Stock Market News
Sector movers: Tariffs trigger profit-taking in commodity-related shares
According to Oxford Economics, Washington's 25% tariffs on $50bn-worth of Chinese goods and an identical response from Beijing will only lower the two countries' rate of growth by between one and two tenths of a percentage point in 2018 and 2019.
Assuming there is no further escalation, that is.
Be that as it may, traders were in an unforgiving mood, likely even more so given the recent sharp run-up in both miners' shares and in commodity prices.
Against that backdrop, iron ore miners Ferrexpo was near the bottom of the pile on Friday.
As of Wednesday evening, commodities were the best performing asset class in the world, having climbed by roughly 9%.
Most base metals futures contracts finished in the red, with three-month LME copper slipping from $7,144 per metric tonne at the Friday open to $7,020.
Risk aversion extended to the oil patch ahead of the 22-23 June meeting of OPEC countries' oil ministers, following reports that Moscow is pushing for a 1.5m barrel a day hike in output.
Front month Brent crude oil futures were trading down by 3.475% to $73.39 a barrel on the ICE.
Top performing sectors so far today
Automobiles & Parts +4.35%
Aerospace and Defence +1.33%
Food & Drug Retailers +0.59%
Personal Goods +0.59%
Beverages +0.42%
Bottom performing sectors so far today
Industrial Metals & Mining -4.58%
Mining -4.24%
Oil Equipment, Services & Distribution -3.62%
Oil & Gas Producers -3.34%
Life Insurance -2.42%
Assuming there is no further escalation, that is.
Be that as it may, traders were in an unforgiving mood, likely even more so given the recent sharp run-up in both miners' shares and in commodity prices.
Against that backdrop, iron ore miners Ferrexpo was near the bottom of the pile on Friday.
As of Wednesday evening, commodities were the best performing asset class in the world, having climbed by roughly 9%.
Most base metals futures contracts finished in the red, with three-month LME copper slipping from $7,144 per metric tonne at the Friday open to $7,020.
Risk aversion extended to the oil patch ahead of the 22-23 June meeting of OPEC countries' oil ministers, following reports that Moscow is pushing for a 1.5m barrel a day hike in output.
Front month Brent crude oil futures were trading down by 3.475% to $73.39 a barrel on the ICE.
Top performing sectors so far today
Automobiles & Parts +4.35%
Aerospace and Defence +1.33%
Food & Drug Retailers +0.59%
Personal Goods +0.59%
Beverages +0.42%
Bottom performing sectors so far today
Industrial Metals & Mining -4.58%
Mining -4.24%
Oil Equipment, Services & Distribution -3.62%
Oil & Gas Producers -3.34%
Life Insurance -2.42%
Related share prices |
---|
Ferrexpo (FXPO) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price