Markets

Anglo American earnings point back to South Africa tailwinds

Anglo American handily beats estimates. This points to the fact that gold miners in South Africa have substantially underperformed their peers elsewhere in the sector.

And with the South African rand (quote) looking weaker than it should be lately, these stocks could catch a tailwind as the currency situation recovers.

Names here are AAUKY (quote) of course, but also GFI (quote), HMY (quote).

Watch the rand ETF SZR (quote) for insight into what the rand is up to.

Actually, if you are bullish on the rand, this fund is an interesting way to get retail exposure to the South African currency in its moment of weakness.

As for gold , South African miners' weakness has actually weighed on the mining ETF GDX (quote):

ArcelorMittal really is at a 9-month high

The mothership of steel is actually trading back at the levels it was at in May, when hopes for a global construction boom ahead were only barely giving way to fears that rising iron and coal prices would wreck steel mills’ profits

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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