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    RIO   GB0007188757

RIO TINTO PLC

(RIO)
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FTSE 100 records worst week since mid-August as recovery slows

09/10/2021 | 04:01am EDT
FILE PHOTO: A man shelters under an umbrella as he walks past the London Stock Exchange

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* COVID-19 Delta spread slows UK economic recovery in July

* FTSE 100, FTSE 250 down 1.5% and 1.9%, respectively, for week

* British Airways owner IAG slips on CS's price target cut

* FTSE 100 up 0.1%, FTSE 250 off 0.3%

Sept 10 (Reuters) - The FTSE 100 ended higher on Friday, but posted its worst weekly performance since mid-August as data showed the pace of domestic economic recovery stalled in July against the backdrop of a surge in COVID-19 cases and supply chain disruptions.

The blue-chip index ended 0.1% up with miners leading the gains, while the domestically focused mid-cap FTSE 250 index dropped 0.3% weighed by real estate and financial stocks.

Wider mining index added 1.5% and was the best performing sub-sector index with stocks including Rio Tinto , Glencore and Anglo American up between 1.2% and 1.8%.

Economic output rose just 0.1% in July, the Office for National Statistics said, the smallest monthly increase since January when Britain went into a new national lockdown. .

"Isolation rules have been relaxed...The vaccination roll out has continued apace and Delta appears to have been kept at bay, at least for now. August's figures will be colored by the bright palate of summer, but September seems to have brought a new term full of old normals," said Danni Hewson, financial analyst at AJ Bell.

A resurgence in COVID-19 cases globally has sparked fresh worries about whether the vaccine-backed economic recovery can be sustained, with the FTSE 100 and the FTSE 250 down about 1.5% and 1.9%, respectively, for the week.

Meanwhile, a Reuters poll found the Bank of England will raise borrowing costs by end-2022, earlier than previously thought, with a chance it may come even sooner as a solid pandemic recovery and high inflation may tip the bank's hand.

All eyes will be on Britain's job data for July as those figures will show the extent of labor shortage in the nation amid employers struggling to find job candidates.

British airways owner IAG slipped 4.1% after Credit Suisse cut its price target on the stock.

French luxury group LVMH gained 0.8% after HSBC upgraded the stock to "buy" from "hold." Rival Burberry Group added 0.5%. (Reporting by Devik Jain and Amal S in Bengaluru; Editing by Shounak Dasgupta and Devika Syamnath)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BURBERRY GROUP PLC -1.89% 1872.5 Delayed Quote.4.64%
GLENCORE PLC 1.49% 390 Delayed Quote.67.62%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. 3.25% 182.92 Delayed Quote.14.47%
LVMH MOËT HENNESSY LOUIS VUITTON SE -0.36% 664.8 Real-time Quote.30.12%
RIO TINTO PLC -1.43% 5038 Delayed Quote.-7.90%
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More news
Analyst Recommendations on RIO TINTO PLC
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Financials (USD)
Sales 2021 63 250 M - -
Net income 2021 22 373 M - -
Net cash 2021 2 163 M - -
P/E ratio 2021 4,94x
Yield 2021 15,5%
Capitalization 114 B 114 B -
EV / Sales 2021 1,76x
EV / Sales 2022 2,21x
Nbr of Employees 47 500
Free-Float 65,3%
Chart RIO TINTO PLC
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Rio Tinto plc Technical Analysis Chart | RIO | GB0007188757 | MarketScreener
Technical analysis trends RIO TINTO PLC
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 69,27 $
Average target price 75,82 $
Spread / Average Target 9,46%
EPS Revisions
Managers and Directors
Jakob Stausholm Chief Executive Officer & Executive Director
Peter Lloyd Cunningham Chief Financial Officer & Executive Director
Simon Robert Thompson Chairman
Arnaud Soirat Chief Operating Officer
Megan Clark Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
RIO TINTO PLC-7.90%113 888
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GLENCORE PLC67.62%70 763
ANGLO AMERICAN PLC20.11%49 163
GRUPO MÉXICO, S.A.B. DE C.V.11.45%35 695
SAUDI ARABIAN MINING COMPANY (MA'ADEN)119.26%29 133