European Mining Stocks Decline Amid Weak Copper Prices

Deep News
5 hours ago

European mining stocks led the decline in the benchmark Stoxx 600 index, as copper prices fell following the latest Federal Reserve meeting minutes, which dampened expectations for further interest rate cuts. Rio Tinto's flat earnings also pressured the sector. The Stoxx 600 Basic Resources index dropped as much as 2.6%, becoming the worst-performing sector in European equity markets. Rio Tinto fell 3.9%, making it the weakest performer in the sector. This came after the mining company reported unchanged annual profits. Antofagasta declined 3.7%, Voestalpine dropped 2.5%, Glencore decreased 2.3%, and Anglo American slipped 2.0%. At 8:55 local time, copper prices on the London Metal Exchange edged down 0.2% to $12,880 per tonne. Iron ore and aluminum prices also declined in tandem.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10