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

04/08/2021 | 04:34pm EDT

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

Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLC -0.15% 3059 Delayed Quote.26.56%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.45% 0.7719 Delayed Quote.0.36%
BRITISH POUND / US DOLLAR (GBP/USD) -0.63% 1.38438 Delayed Quote.1.93%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.04% 0.79908 Delayed Quote.0.93%
DOW JONES AFRICA TITANS 50 INDEX -0.24% 539.85 Delayed Quote.2.13%
DOW JONES SOUTH AFRICA(ZAR) -0.43% 1964.39 Delayed Quote.11.86%
EURO / US DOLLAR (EUR/USD) -0.07% 1.20268 Delayed Quote.-1.50%
GOLD -0.36% 1786.906 Delayed Quote.-6.38%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.46% 0.01332 Delayed Quote.-3.12%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.51% 0.71666 Delayed Quote.-0.20%
S&P AFRICA 40 INDEX -0.60% 175.95 Delayed Quote.2.34%
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