Mining shares jumped on Thursday, getting a lift as copper futures rallied while broader European stock markets struggled for direction.
Rio Tinto RIO, 2.29% shares rose 4%, as other miners including KGHM Polska Miedz KGH, +1.40%, BHP Group BHP, 2.19%, and Antofagasta ANTO, 7.52%gained, with copper futures HG00, 4.18% surging nearly 4%. The copper contract on the London Metal Exchange touched its highest level since April 2012.
The broader Stoxx Europe 600 SXXP, 0.56% wobbled between gains and losses, losing 0.1% in midmorning trade after two days of declines. Stocks are beginning to struggle, with the yield on the benchmark U.S. 10-year Treasury rising on hopes the global economy will reflate.