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TDUX
Jul 08 - 10:55 PM

Copper - Australian Mining Stocks Slip As Copper Prices Drop On Mideast Tensions

By Nikita Maria Jino  —  Jul 08 - 09:04 PM

• Australian mining stocks fall as much as 2% to their lowest point since April 2, adding to the broader benchmark's 0.7% loss

• Sub-index on track for fourth consecutive day of losses

• Copper prices slipped overnight after fresh hostilities in the Middle East threatened an interim ceasefire, reviving worries about weaker economic growth and metals demand [MET/L]

• BHP and Rio Tinto down as much as 2.1% and 4.8%, respectively

• Rio hits lowest level since March 30

• Including the day's moves, AXMM down 5.5% YTD, outperforming a marginal 0.1% gain on the AXJO


(Reporting by Nikita Maria Jino in Bengaluru)

Source:
London Stock Exchange Group | Thomson Reuters

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