Producers of metals and other raw materials climbed amid optimism that moves to rescue troubled banks will help avert a contagion.
Gold prices retreated from a six-week high as global banking jitters abated on news that a group of some of the biggest U.S. banks were putting together a deal for troubled First Republic Bank and after the Swiss National Bank provided liquidity to Credit Suisse.
BHP Group, the world's biggest miner by market value, said roughly 500,000 new claimants have been added to a class action in the U.K. over a catastrophic dam failure in Brazil in 2015 that killed 19 people and polluted hundreds of miles of rivers in Brazil. The Melbourne, Australia-based mining company said it would continue to defend the U.K. class action, which it said it believes is unnecessary because it duplicates legal proceedings in Brazil and work being undertaken by the Renova Foundation, established in 2016 to manage repairs and compensation following the sudden collapse of the Fundão Dam.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
03-16-23 1715ET
