Metal and mining firms are among today's top gainers on China's plans to spend $156B on...


Metal and mining firms are among today's top gainers on China's plans to spend $156B on infrastructure and Glencore's raised buyout offer for Xstrata. Coal is enjoying a big day, with Alpha Natural (ANR +14%) the S&P's biggest advancer. Other coal (KOL +5.2%) names: CLF +11%, BTU +9.6%. Steel (SLX +5%) names: X +7.1%, AKS +9.1%. Also: FCX +6.9%, JOY +6.8%.
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  • Whitehawk
    , contributor
    Comments (3121) | Send Message
     
    China has quite an inventory to work through. This move was also based on QE expectations and a weakening of the dollar. The operative term is "expectations" and that metals and miners can still trade in a range (and do).
    7 Sep 2012, 05:03 PM Reply Like
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