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Feb. 18, 2021, 5:45 a.m. EST

Mining stocks climb as copper trades near decade high

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By Steve Goldstein

Mining shares jumped on Thursday, getting a lift as copper futures rallied while broader European stock markets struggled for direction.

Rio Tinto /zigman2/quotes/208934945/delayed UK:RIO -2.20% shares rose 4%, as other miners including KGHM Polska Miedz PL:KGH -0.88% , BHP Group /zigman2/quotes/203323256/delayed UK:BHP -2.28% , and Antofagasta /zigman2/quotes/200173667/delayed UK:ANTO -1.42% gained, with copper futures /zigman2/quotes/210054311/delayed HG00 +0.18% surging nearly 4%. The copper contract on the London Metal Exchange touched its highest level since April 2012.

The broader Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -1.90% wobbled between gains and losses, losing 0.1% in midmorning trade after two days of declines. Stocks are beginning to struggle, with the yield on the benchmark U.S. 10-year Treasury rising on hopes the global economy will reflate.

“Momentum has started to fade as U.S. equities were slowed by the tech sector and 10 year Treasury yields /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +0.06% , and the dollar /zigman2/quotes/210598269/delayed DXY +0.0066% is being boosted by positive U.S. retail sales figures,” said Rony Nehme, chief market analyst at Squared Financial.

U.S. stock futures /zigman2/quotes/209948968/delayed ES00 -0.21% were weaker heading into Thursday’s session, which will feature retailer Walmart’s /zigman2/quotes/207374728/composite WMT +0.77% earnings, a busy slate of economic releases, and a congressional hearing on videogames retailer GameStop /zigman2/quotes/203755179/composite GME -3.55% .

Traders in Europe digested a busy slate of earnings.

Airbus /zigman2/quotes/208224336/delayed FR:AIR -4.63% shares fell 4%, as the European aircraft maker forecast delivering the same number of aircraft and break-even free cash flow. It is targeting an adjusted earnings before interest and tax of €2 billion, after earning €1.7 billion on the same measure in 2020 and €6.95 billion in 2019.

Smith & Nephew /zigman2/quotes/207176500/delayed UK:SN +0.11% , the medical equipment maker, fell 5% as the company said its profit margins for 2021 will be worse than 2019, due to reduced production volumes, increased research and development investments, acquisitions and foreign-exchange moves.

Varta /zigman2/quotes/207924135/delayed XE:VAR1 -2.22% , the automotive battery company, dropped 10% amid reporting a 145% rise in adjusted operating profit on a 140% rise in revenue for 2020 and deciding to pay a special dividend of €2.50 per share. Varta stock nonetheless has jumped 67% over the last 12 months.

Temenos /zigman2/quotes/207982992/delayed CH:TEMN -1.30% shares jumped 14%, as the Swiss enterprise-software maker forecast revenue growth between 10% and 15% through 2025, ahead of its capital markets day.

/zigman2/quotes/208934945/delayed
UK : U.K.: London
5,955.00 p
-134.00 -2.20%
Volume: 2.03M
April 20, 2021 4:35p
P/E Ratio
12.80
Dividend Yield
6.86%
Market Cap
£99.12 billion
Rev. per Employee
£732,787
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PL : Poland: Warsaw
196.95
-1.75 -0.88%
Volume: 287,375
April 20, 2021 12:00a
P/E Ratio
42.31
Dividend Yield
N/A
Market Cap
zł40.24 billion
Rev. per Employee
N/A
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/zigman2/quotes/203323256/delayed
UK : U.K.: London
2,167.00 p
-50.50 -2.28%
Volume: 3.76M
April 20, 2021 4:35p
P/E Ratio
20.26
Dividend Yield
5.31%
Market Cap
£125.72 billion
Rev. per Employee
N/A
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/zigman2/quotes/200173667/delayed
UK : U.K.: London
1,841.00 p
-26.50 -1.42%
Volume: 1.28M
April 20, 2021 4:35p
P/E Ratio
47.01
Dividend Yield
2.12%
Market Cap
£18.37 billion
Rev. per Employee
£172,054
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/zigman2/quotes/210054311/delayed
US : U.S.: Nymex
$ 4.22
+0.0075 +0.18%
Volume: 13,551
April 21, 2021 1:09a
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/zigman2/quotes/210599654/delayed
XX : STOXX
433.80
-8.38 -1.90%
Volume: 0.00
April 20, 2021 11:03p
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/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
1.56
+0.0010 +0.06%
Volume: 0.00
April 21, 2021 1:18a
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/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
91.25
+0.0060 +0.0066%
Volume: 0.00
April 21, 2021 1:09a
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,117.75
-8.85 -0.21%
Volume: 66,026
April 21, 2021 12:09a
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/zigman2/quotes/207374728/composite
US : U.S.: NYSE
$ 140.79
+1.08 +0.77%
Volume: 8.15M
April 20, 2021 4:00p
P/E Ratio
29.72
Dividend Yield
1.56%
Market Cap
$394.84 billion
Rev. per Employee
$243,109
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/zigman2/quotes/203755179/composite
US : U.S.: NYSE
$ 158.53
-5.84 -3.55%
Volume: 4.66M
April 20, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$10.96 billion
Rev. per Employee
$424,150
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/zigman2/quotes/208224336/delayed
FR : France: Euronext Paris
97.94
-4.76 -4.63%
Volume: 2.03M
April 20, 2021 5:37p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€80.79 billion
Rev. per Employee
€379,995
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/zigman2/quotes/207176500/delayed
UK : U.K.: London
£ 1,414.00
+1.50 +0.11%
Volume: 3.28M
April 20, 2021 4:35p
P/E Ratio
35.85
Dividend Yield
0.02%
Market Cap
£12.60 billion
Rev. per Employee
£198,502
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/zigman2/quotes/207924135/delayed
XE : Germany: Xetra
118.90
-2.70 -2.22%
Volume: 175,869
April 20, 2021 6:30p
P/E Ratio
50.37
Dividend Yield
2.10%
Market Cap
€5.09 billion
Rev. per Employee
€189,700
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/zigman2/quotes/207982992/delayed
CH : Switzerland: SWX
CHF 144.70
-1.90 -1.30%
Volume: 215,507
April 20, 2021 5:31p
P/E Ratio
65.59
Dividend Yield
0.59%
Market Cap
CHF10.51 billion
Rev. per Employee
CHF106,398
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