Rising Copper Price Pushes ETF COPX Shares Upward
September 21 2018 - 11:16AM
Dow Jones News
Shares in exchange-traded fund Global X Copper Miners, which
trades under COPX, rose Friday as copper prices hit an eight-week
intraday high on the London Metal Exchange, sending the fund's
holding stocks upward.
--According to FactSet, LME 3-month copper prices rose 3.9% to
$6,352 a ton at 1426 GMT, an eight-week intraday high.
--As copper prices rose, so did shares in COPX holdings
Antofagasta PLC (ANTO.LN), KAZ Minerals PLC (KAZ.LN) and Glencore
PLC (GLEN.LN), among others.
--Chile-based miner Antofagasta, which counts for 4.99% of COPX
holdings, saw shares rise as much as 5.2% in the session. KAZ
Minerals, a FTSE 250-listed copper miner, saw shares rise as much
as 9%.
--Shares in COPX, which has net assets of $74.3 million and is
issued by Mirae Asset Global Investments, rose 2.2% to $22.80 in
early trade.
Write to Oliver Griffin at (oliver.griffin@dowjones.com;
@OliGGriffin)
(END) Dow Jones Newswires
September 21, 2018 11:01 ET (15:01 GMT)
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