Metal and mining stocks up after new China stimulus, German debt brake deal

Voestalpine AG

05/03/2025 09:26

** Shares in European metal and mining stocks gain along with most base metals prices, driven by new China stimulus and as the parties hoping to form the next German government agreed on a historic debt overhaul

** Steel groups ArcelorMittal MT.AS, Aperam APAM.AS and Acerinox ACX.MC, voestalpine VOES.VI and miner Eramet ERMT.PA gain 5-9%, boosting Europe's basic resources index .SXPP, which rises 2.5%

** Metal miners Antofagasta ANTO.L, Anglo American AAL.L, Norsk Hydro NHY.OL, Aurubis NAFG.DE are up 3-7%

** For steel, Jefferies analyst Tommaso Castello notes positive factors such as demand driven by defence spending, potential restrictions on imported volumes to Europe, and rebound after Tuesday's negative close

   ** Inderes analyst Petri Gostowski points out that Germany is likely to increase public spending and drive an economical growth, which is also positive for the sector

 (Reporting by Anna Chaberska, Alban Kacher)

 ((Anna.chaberska@thomsonreuters.com;))