Stock market

Miners weigh on European stocks after best day in four months

Stock Markets (Mar 09, 2021 04:25AM ET) Miners weigh on European stocks after best day in four months

© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) – European shares slipped on Tuesday after posting their best session in four months, as a retreat in commodity prices pressured miners.

The pan-European STOXX 600 was down 0.1% in early deals, with miners falling 1.9% and automakers dropping 1%.

Dalian iron ore futures fell by the 10% daily limit after anti-pollution restrictions in China’s top steelmaking city of Tangshan, while metal prices were also hit by a firm dollar.[IRONORE/] [MET/L]

UK-listed miners Rio Tinto (NYSE:RIO), BHP Group (NYSE:BHP) and Anglo American (LON:AAL) fell more than 2%, weighing on UK’s commodity-heavy FTSE 100.

The German DAX eased 0.3% after hitting an all-time high in the previous session.

German automotive parts maker Continental AG (OTC:CTTAY) fell 5.1% after it reported a 12.7% drop in group sales, thanks in part to falling revenue in the automotive, rubber and powertrain divisions.Miners weigh on European stocks after best day in four months Add a Comment

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