By Reuters Staff
(Adds details; updates prices)
Jan 11 (Reuters) - Canada’s main stock index fell on Monday, dragged down by weakness in energy stocks, while a surge in coronavirus cases in China and rising restrictions across the globe triggered concerns around an economic recovery. The energy sector dropped 1.4% as U.S. crude prices were down 1.2% a barrel, while Brent crude lost 1.6%. Germany reported an increase in coronavirus cases even as most of Europe was under the strictest restrictions, while China saw its biggest daily increase in infections in more than five months. At 9:39 a.m. ET (14:39 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 63.94 points, or 0.35%, at 17,978.13.
The Globe and Mail Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer
Inside the Market’s roundup of some of today’s key analyst actions
The outlook for commodities has “significantly improved” in recent months, according to Scotia Capital analyst Orest Wowkodaw, who thinks the “risk-reward proposition for the equities remains attractive despite the impressive performance post the COVID-19 pandemic collapse in early 2020.”
“Although most of the world continues to battle the COVID-19 pandemic, the recent development of several vaccines and clarity on the governing U.S. administration has significantly improved the outlook (and sentiment) for commodities,” he said. “There is little doubt that the remarkable Chinese economic recovery beginning in Q2/20 rescued most com
Glencore is close to selling troubled Zambian copper mine
Thomas Biesheuvel and Taonga Clifford Mitimingi, Bloomberg News Glencore , Bloomberg
Glencore Plc said itâs in the final stages of agreeing to sell its stake in Mopani Copper Mines Plc to the Zambian government, ending months of uncertainty over the future of the troubled asset.
Glencore has been in talks with the state about Mopani since last year after the two clashed on the future of the mine, which has been unprofitable for years. Despite the challenges, the operations are a vital employer for Zambia.
Glencore said Friday it is in final-stage negotiations to sell the 90 per cent holding it owns with Vancouver-based First Quantum Minerals Ltd. to state-owned ZCCM Investments Holdings Plc, which already owns the other 10 per cent. Glencore did not provide details on the value of the sale.
Copper production in Africa is expected to maintain a compound annual growth rate of 4.5% by 2024.
Jan 6,2021 15:30
CST
Source:SMM
[copper production in Africa is expected to maintain a compound annual growth rate of 4.5 per cent by 2024] the growth rate of copper production in Africa is expected to pick up in 2022 with the resumption of (Mutanda) and the start of a number of projects. Copper production in the region is expected to reach 2.9 million tons by 2024, maintaining a compound annual growth rate of 4.5 per cent.
The content below was translated by Tencent automatically for reference.
Despite the impact of COVID-19 s epidemic, copper production in Africa is expected to grow slightly in 2020, S & P global market Caizhi reported on December 18. As a result of the blockade measures, most of the operations of the major copper producers in Africa were not affected by the epidemic. In addition, the number of new cases in the Democratic Republic of the Congo and Zambia is low
Orca, Routemaster, Salazar at 52-Week Highs on News marketwatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketwatch.com Daily Mail and Mail on Sunday newspapers.