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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 +1.37% shares rose 4%, as other miners including KGHM Polska Miedz PL:KGH +2.42% , BHP Group /zigman2/quotes/203323256/delayed UK:BHP +1.30% , and Antofagasta /zigman2/quotes/200173667/delayed UK:ANTO +1.41% gained, with copper futures /zigman2/quotes/210054311/delayed HG00 +2.71% 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 +1.09% 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 -0.28% , and the dollar /zigman2/quotes/210598269/delayed DXY +0.09% 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 +0.91% were weaker heading into Thursday’s session, which will feature retailer Walmart’s /zigman2/quotes/207374728/composite WMT +0.82% earnings, a busy slate of economic releases, and a congressional hearing on videogames retailer GameStop /zigman2/quotes/203755179/composite GME +0.84% .

Traders in Europe digested a busy slate of earnings.

Airbus /zigman2/quotes/208224336/delayed FR:AIR +1.81% 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 +0.45% , 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 +1.85% , 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 -2.18% 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
5,926.00 p
+80.00 +1.37%
Volume: 1.49M
July 23, 2021 4:35p
P/E Ratio
12.74
Dividend Yield
6.89%
Market Cap
£98.26 billion
Rev. per Employee
£732,787
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PL : Poland: Warsaw
190.20
+4.50 +2.42%
Volume: 356,814
July 23, 2021 12:00a
P/E Ratio
14.98
Dividend Yield
0.79%
Market Cap
zł37.14 billion
Rev. per Employee
N/A
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/zigman2/quotes/203323256/delayed
UK : U.K.: London
2,258.00 p
+29.00 +1.30%
Volume: 2.07M
July 23, 2021 4:35p
P/E Ratio
21.11
Dividend Yield
5.10%
Market Cap
£128.42 billion
Rev. per Employee
N/A
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/zigman2/quotes/200173667/delayed
UK : U.K.: London
1,437.00 p
+20.00 +1.41%
Volume: 1.07M
July 23, 2021 4:35p
P/E Ratio
36.70
Dividend Yield
2.77%
Market Cap
£13.97 billion
Rev. per Employee
£172,054
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/zigman2/quotes/210054311/delayed
US : U.S.: Nymex
$ 4.46
+0.12 +2.71%
Volume: 87,070
July 23, 2021 4:59p
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/zigman2/quotes/210599654/delayed
XX : STOXX
461.51
+4.98 +1.09%
Volume: 0.00
July 23, 2021 11:03p
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/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
1.28
-0.0036 -0.28%
Volume: 0.00
July 23, 2021 4:57p
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/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
92.91
+0.08 +0.09%
Volume: 0.00
July 23, 2021 4:59p
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,399.25
+39.75 +0.91%
Volume: 1.11M
July 23, 2021 4:00p
loading...
/zigman2/quotes/207374728/composite
US : U.S.: NYSE
$ 142.43
+1.16 +0.82%
Volume: 5.32M
July 23, 2021 4:00p
P/E Ratio
33.11
Dividend Yield
1.54%
Market Cap
$395.86 billion
Rev. per Employee
$243,109
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/zigman2/quotes/203755179/composite
US : U.S.: NYSE
$ 180.36
+1.51 +0.84%
Volume: 1.32M
July 23, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$13.74 billion
Rev. per Employee
$424,150
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/zigman2/quotes/208224336/delayed
FR : France: Euronext Paris
111.50
+1.98 +1.81%
Volume: 2.05M
July 23, 2021 5:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€86.04 billion
Rev. per Employee
€379,995
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/zigman2/quotes/207176500/delayed
UK : U.K.: London
£ 1,554.50
+7.00 +0.45%
Volume: 1.07M
July 23, 2021 4:35p
P/E Ratio
39.41
Dividend Yield
0.02%
Market Cap
£13.59 billion
Rev. per Employee
£198,502
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/zigman2/quotes/207924135/delayed
XE : Germany: Xetra
142.90
+2.60 +1.85%
Volume: 168,310
July 23, 2021 6:30p
P/E Ratio
60.66
Dividend Yield
1.74%
Market Cap
€5.67 billion
Rev. per Employee
€189,700
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/zigman2/quotes/207982992/delayed
CH : Switzerland: SWX
CHF 139.40
-3.10 -2.18%
Volume: 351,972
July 23, 2021 5:30p
P/E Ratio
57.40
Dividend Yield
0.65%
Market Cap
CHF10.32 billion
Rev. per Employee
CHF106,398
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