Asia’s latest Covid outbreak rocks the mining stocks | Business
In general, rising commodities prices are good news for the world’s listed miners, with their shares rising hand-in-hand with the prices of copper, iron ore and the like. Not yesterday, though. Although the global rally in commodities prices continued, the miners were in retreat, falling back amid fears about the latest spread of Covid-19 in Asia and the effect that could have on a region — we’re talking China — that is the world’s biggest consumer of raw materials.
As the miners’ share prices went down, so, too, did the FTSE 100. London’s leading index was dragged into the red after enjoying a decent rally at the start of the week, dropping 34.37 points, or 0.5 per cent, to 7,034.06 by the end of the