London's Miners Fall as Middle East Tensions Escalate
Dow Jones
2 hours ago
1314 GMT - Shares in London mining stocks are down in afternoon trade as Brent crude tops $105 a barrel and hostilities between the U.S. and Iran escalate. Higher oil prices will add costs to energy intensive miners who are some of the worlds largest consumers of diesel. Higher oil prices also raise the prospect of interest rate rises to combat inflation. This would hurt investment and consumer sentiment, and drag on demand for mined minerals and metals. Anglo American falls 5.4% while BHP's London shares are down 4.7%. Rio Tinto's slip 3.25%. Glencore slides 3.4% while copper miner Antofagasta falls 6%.
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