Materials Shares Rise as Dollar Weakens -- Materials Roundup

FeaturesDow 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.

--By Rob Curran, rob.curran@dowjones.com

Continue Reading Below

(END) Dow Jones Newswires

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