London — Tuesday saw mixed trading on European markets as mining stocks rose on expectations of a rate decrease. At 11:24 a.m. London time, the pan-European Stoxx 600 was down 0.02%, reversing earlier gains, while the main regional indexes were mixed.
Automobiles and mining stocks both increased by 0.88% and 0.76%, respectively, while retail stocks and other sectors were trading lower.
The price of copper reached a nearly six-week high on Tuesday. As of 11:21 a.m., the three-month contract on the London Metal Exchange was up 0.78% at $9,359.50 per metric tonne.
This comes after Federal Reserve Chair Jerome Powell on Friday provided the clearest signal to date that the bank would lower interest rates during its meeting on September 18. The demand for commodities like metals usually increases as rates decline.
Source (CNBC)
