Mining rose on Thursday, gaining growth as copper futures rallied as broader European stock markets struggled for direction.
Rio Tinto RIO,
shares increased by 4% as other miners, including KGHM Polska Miedz KGH,
BHP Group BHP,
and Antofagasta ANTO,
earned, with HG00 copper futures,
increasing by almost 4%. The copper contract on the London Metal Exchange reached its highest level since April 2012.
Stoxx Europe 600 SXXP wider,
it faltered between gains and losses, losing 0.1% in mid-morning transactions after two days of decline. Shares are starting to fight, and the yield on the US Treasury of 10 years of reference is growing on the hope that the global economy will be redefined.
“The momentum has begun to fade as US stocks have slowed in the technology sector and the 10-year Treasury is producing TMUBMUSD10Y,
and the DXY dollar,
it is driven by positive U.S. retail sales, ”said Rony Nehme, chief market analyst at Squared Financial.
US ES00 futures,
were weaker at Thursday’s session, which will feature Walmart retailer’s WMT,
earnings, a crowded list of economic versions and a congressional hearing on GameStop GME video game retailer,
European traders have digested a list of earnings.
Airbus AIR,
shares fell by 4% as the European aircraft manufacturer forecasts the delivery of the same number of aircraft and a free cash flow. It targets an adjusted pre-interest and tax gain of EUR 2 billion, after earning EUR 1.7 billion for the same measure in 2020 and EUR 6.95 billion in 2019.
Smith & Nephew SN,
the medical equipment manufacturer fell by 5% as the company said its profit margins for 2021 will be lower than in 2019 due to lower production volumes, increased investment in research and development, acquisitions and foreign exchange movements.
Varta VAR1,
the car battery company, fell by 10% amid a 145% increase in adjusted operating profit with a 140% increase in revenue for 2020 and decided to pay a special dividend of EUR 2.50 per share. However, the stock of Varta has increased by 67% in the last 12 months.
We have TEMN,
shares have risen by 14%, as the Swiss enterprise software maker forecasts a 10% to 15% increase in revenue by 2025, before its capital markets day.