• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Australian miners rally on new China stimulus cheer; Fortescue leads gains

by December 10, 2024
written by December 10, 2024

Investing.com– Australian miners rallied on Tuesday after the country’s top trading partner China pledged more stimulus measures to boost its sluggish economy.

China has committed to implementing more proactive fiscal stimulus measures and adopting moderately looser monetary policies in 2025, the government signaled during a Politburo meeting on Monday.

Australia’s heavyweight mining sub-index, the S&P/ASX 300 Metals & Mining jumped nearly 4% on Tuesday after China’s announcement.

Gains were led by iron ore giant Fortescue (ASX:FMG) climbing nearly 7% to its highest level in two months.

World’s largest iron ore producer Rio Tinto Ltd (ASX:RIO) rose more than 5%, while mining behemoth BHP Group (ASX:BHP) jumped nearly 4%.

Lithium miner Pilbara Minerals Ltd (ASX:PLS) surged 7.2%, while Liontown Resources Ltd (ASX:LTR) and IGO Ltd (ASX:IGO) gained 3.5% and 5.8%, respectively.

China’s construction, manufacturing, and energy sectors are major consumers of Australian minerals. Policies aimed at stimulating China’s economy, such as infrastructure investments or easing monetary policies, can lead to higher imports of raw materials, supporting mining stock prices.

However, the broader Australian benchmark index S&P/ASX 200 was 0.4% lower on Tuesday, ahead of a Reserve Bank of Australia’s interest rate decision, due later in the day.

Investors will now focus on China’s annual Central Economic Work Conference, which is set to take place later this week.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Australian fund manager Perpetual tumbles on $340 mln tax bill for KKR deal
next post
China stocks rally, CSI 300 up over 2% on Poliburo stimulus promises

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Israel stocks higher at close of trade; TA 35 up 0.02%
    • US Supreme Court to hear challenge to Mexico’s suit against American gun companies

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy