Materials Shares Rise as Dollar Weakens -- Materials Roundup

Features Dow Jones Newswires

Shares of mining firms and other commodities producers rose as the dollar weakened. Glencore raised its cash offer for Rio Tinto's Australian coal assets to $2.68 billion, days after its previous attempt to scotch an acquisition by a Chinese suitor was rejected. Rio Tinto previously opted for a $2.45 billion deal with Yancoal over Glencore's $2.5 billion offer, saying the Yancoal deal would likely close sooner. Anglo American Chairman John Parker said increased usage of electric cars and wind turbines will drive demand for copper.

Continue Reading Below

--By Rob Curran,

(END) Dow Jones Newswires

June 23, 2017 16:16 ET (20:16 GMT)