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Materials Up After Bank of England Intervention -- Materials Roundup

09/28/2022 | 04:34pm EST

Producers of metals and other raw materials rose sharply as the dollar gave back some of its gains in the wake of action from the British central bank.

The British pound sterling rallied after the Bank of England said it would buy gilt bonds at whatever level necessary to stabilize markets.

Gold futures, which are particularly sensitive to moves in the dollar, rose by 2.1% for their biggest gain since March. A crash in sterling earlier this week had sent global markets reeling, amid fears of a full.

Miner Anglo American started commercial copper operations at its Quellaveco project in Peru.

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

(END) Dow Jones Newswires

09-28-22 1633ET

Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLC -3.32% 3190 Delayed Quote.9.40%
AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) 0.00% 0.55357 Delayed Quote.2.68%
BRITISH POUND / US DOLLAR (GBP/USD) 0.18% 1.22566 Delayed Quote.-9.76%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) -0.52% 0.597947 Delayed Quote.2.56%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.35% 0.73266 Delayed Quote.-7.41%
EURO / BRITISH POUND (EUR/GBP) -0.40% 0.85923 Delayed Quote.2.46%
EURO / US DOLLAR (EUR/USD) -0.22% 1.05327 Delayed Quote.-7.55%
GOLD 0.44% 1797.07 Delayed Quote.-2.33%
INDIAN RUPEE / BRITISH POUND (INR/GBP) -0.39% 0.009893 Delayed Quote.0.40%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.21% 0.012127 Delayed Quote.-9.45%
MSCI PERU (GDTR) 1.18% 5893.17 Real-time Quote.14.06%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.57% 0.64139 Delayed Quote.-7.09%
UK 10Y CASH -0.04% 3.1778 Delayed Quote.237.40%
US DOLLAR / BRITISH POUND (USD/GBP) -0.18% 0.815967 Delayed Quote.10.81%
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