Materials Up As Thermal-Coal Unit Move Gives Anglo American A Lift -- Materials Roundup

04/08/2021 | 04:34pm

Producers of metals and other raw materials rose amid deal activity.

Shares of miner Anglo American rose sharply after it unveiled plans to spin off its thermal coal business in South Africa to new holding company -- Thungela Resources. The move will improve Ango American's environmental profile while also sidelining a business that struggled with profitability, said analysts at brokerage Berenberg.

Gold futures recouped some of their recent losses, rising almost 1% to $1756 an ounce as the dollar weakened substantially against rivals in the wake of comments from Federal Reserve Chairman Jerome Powell.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

04-08-21 1633ET

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