Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Mining Shares Strike It Rich Again As Markets Await NFP

Published 05/02/2016, 09:40
Updated 03/08/2021, 16:15

It’s been a quiet but positive start for European markets with large swathes of Asia headed for Lunar New Year celebrations ahead of the latest US unemployment report for January.

The lead up to the non-farm payrolls report has seen the dollar nosedive in what could be its worst weekly decline since 2011. With the dollar having already made its big move for the week, traders who are short the buck may take any positives from non-farm payrolls as a reason to book profits. Expectations are for 190k jobs created with unemployment at 5.0% and average earnings growth of 0.3%.

Mining shares have picked up where they left of, topping the FTSE 100 by a wide margin for a second day. After rising as much as 18% on Thursday, Anglo American (L:AAL) is higher by over 8% on Friday with Antofagasta (L:ANTO) and BHP Billiton (L:BLT) also top risers.

Shares of BG Group (L:BG) rose modestly after the energy company’s fourth quarter earnings beat expectations. The company returned to full-year pre-tax profit in 2015, earning $2.97bn compared with a loss of -$2.3bn in 2014.

Stocks in the US look set for a slightly higher start as toymakers Hasbro and Mattel (O:MAT) announced talks of a possible merger while shares of LinkedIn (N:LNKD) are expected to lose a quarter of their value after issuing weak full-year guidance.

USA pre-opening levels
S&P 500: 3 points higher at 1,918
Dow Jones: 33 points higher at 16,449
Nasdaq 100: 5 points higher at 4,172

"DISCLAIMER: CMC Markets is an execution only provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed.

No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. "

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.