Mining Seen as Undervalued as AI-Linked Investment Opportunity
Dow Jones
Sep 22
1036 GMT - European mining companies' potential to benefit from the build out in artificial-intelligence capacity is underappreciated, UBS strategists Gerry Fowler and Sutanya Chedda write. Basic materials companies that supply the equipment and metals needed to build AI capacity are showing strong buy signals when analyzing market trends, earnings, valuation and sentiment, the strategists say. Copper and iron ore miner Anglo American is an especially clear example of mining's importance for industrial capacity expansion, they say. The strategists upgrade mining to a favored sector. A basket of European basic resources stocks rises 1.4%.
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