Metals Stocks Outlook For The Week - 24 To 28.12.2018
Stocks of metal and mining companies will continue to take cues from global developments next
week. Any progress in trade talks between the US and China will remain on the radar, as it will positively impact prices of base metals. Vedanta will be in focus next week on reports that the Madras High Court has directed agencies to maintain 'status quo' on the National Green Tribunal's order earlier this week that gave the company permission to restart its smelter. Following this, shares of Vedanta will remain under pressure. The stock was the only laggard in the metal space this week, weighed down by news that US is planning to lift sanctions on United Co Rusal Plc. Rusal is the second largest producer of aluminium in the world, and prospects of supply from its mines weighed on prices of aluminium globally. Overall movement in stocks of metal companies could be subdued as the week ahead is truncated on account of a holiday on Tuesday for Christmas.
Source : Cogencis Information Services Ltd.
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Stocks of metal and mining companies will continue to take cues from global developments next
week. Any progress in trade talks between the US and China will remain on the radar, as it will positively impact prices of base metals. Vedanta will be in focus next week on reports that the Madras High Court has directed agencies to maintain 'status quo' on the National Green Tribunal's order earlier this week that gave the company permission to restart its smelter. Following this, shares of Vedanta will remain under pressure. The stock was the only laggard in the metal space this week, weighed down by news that US is planning to lift sanctions on United Co Rusal Plc. Rusal is the second largest producer of aluminium in the world, and prospects of supply from its mines weighed on prices of aluminium globally. Overall movement in stocks of metal companies could be subdued as the week ahead is truncated on account of a holiday on Tuesday for Christmas.
Source : Cogencis Information Services Ltd.
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