Materials Shares Down As Copper Run-up Pauses - Materials Roundup

Features Dow Jones Newswires

Shares of commodities producers fell as a runup in the price of copper and other raw materials paused. Copper futures ticked up 0.13% to $6,328.50 a metric ton in midmorning trade in London, up 5.4% since the same point last week and about 14% higher on the year. Katanga Mining shares declined after The Wall Street Journal reported the miner was under investigation by Canadian regulators for failing to disclose more than $100 million payments to an Israeli businessman in the Democratic Republic of Congo. Analysts at RBC said investors have ceased to fret about geopolitical risks, noting that, despite North Korean missile tests, duelling sanctions between Russia and the U.S. and other tensions, safe-haven materials such as gold and oil remain under pressure this year.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

July 28, 2017 16:31 ET (20:31 GMT)