CAPITAL MARKETS

Diversified majors gain

Glencore up more than 5.6%

Staff reporter
Glencore rose more than 5.6%

Glencore rose more than 5.6%

"What we are seeing right now is positive earnings news on the back of fairly positive tax cuts and that is encouraging momentum in terms of economic growth," Oxford Economics head of US macro economics GreG Daco told Bloomberg TV.

"But we have to be wary that these tariffs have only gradually started to be implemented."

The S&P500 closed higher in New York yesterday with the metals and mining sector rising 1.57%.

In London, the metals and mining sector surged more than 5% yesterday with strong gains by the diversified majors.

Glencore (LSE: GLEN) rose more than 5.6% and Rio Tinto (LSE: RIO) closed 4.75% higher.

Toronto's gold-weighted metals and mining sector showed a more muted gain of 0.88% as the gold price remains subdued.

Torex Gold Resources (TSX: TXG) lost the most ground in the S&P/TSX Composite Index's gold subset yesterday, closing down 9.52%.

Australia's metals and mining sector was notching up another positive day, up more than 1.6% in afternoon trade with BHP (ASX: BHP) up 2.39% at the time of writing.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.