CAPITAL MARKETS

Base metals settle after volatile week

Base metals posted marginal price gains on Friday morning after a topsy turvy week, lifting the share prices of UK listed miners.

Staff reporter
Base metals settle after volatile week

LME copper was up 0.58% to US$9,377/t by mid-morning UK time on Friday, with nickel up 1.51% to US$18,610. Shares in BHP were up 1.61%, with Rio Tinto up 1.98% and Anglo American the biggest winner at 2.16%.

The slight uptick came after US equities finished down on Thursday, with the S&P 500 and Nasdaq moving lower after hitting yet more all-time highs on Wednesday.

Headlines in the US were dominated by the Delta variant, which has become the dominant strain in the country, accounting for more than 50% of new cases.

Gold was down slightly from Thursday at US$1,805/oz, with related equities falling in the US and then in Australia overnight.

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