Rio Tinto

Rio Tinto, along with the FTSE350 mining index as a whole, has had a roller coaster year.

Things were going quite well, then Trump tweeted.

Measured iron ore exposure and modest valuation are key

Stocks are buying the White House’s latest blast of trade optimism, though bond markets are reserving judgement

Its latest multi-billion dollar pay-out isn’t entirely welcome

The US government struck a blow to the ever rising shares of the major US tech companies after it said that it was investigating Google parent Alphabet, Amazon, Apple and Facebook for anticompetitive practices. Much of the rally on US indices has been fueled by the FANG stocks and a prolonged legal affair could erode some of that.

European gauges are being helped this morning by a surprise increase in Chinese manufacturing in March which returned to growth after four months of contraction.

There has been a flurry of earnings and company news this morning but their mixed nature turned out to be overall negative for the FTSE.

Asian stocks closed lower and European gauges started the week on the back foot following Chinese data showing a 4.4% decline in the country’s exports in December.

The markets are having a respite from being battered by negative trade war news and top global indices are moving almost uniformly higher.

The FTSE opened up 0.03% at 5,642.08 as some early profit taking, particularly on mining companies, dampened the boost from a strong closure on Wall Street.

The FTSE 100 gradually recovered after its initial plunge on the first day of trading after Easter but still finished trading in the red, down 0.42% on the day.

Blockbuster earnings have not proved to be much of a buy signal

Metals have been surging ahead in recent weeks, the steel price has risen more than 15% since June, while copper is at its highest level since the end of 2014.

The previous session was a mixed bag for equities across the globe. The Dow Jones and the Nasdaq both hit record highs in early trading […]