Mining stocks rise after reports of Glencore, Rio Tinto merger talks; European markets resume rally

Published On Jan 17, 2025, 2:11 AM

European markets opened positively, driven by mining stocks, which rose after reports of potential merger talks between Glencore and Rio Tinto. The Stoxx 600 index climbed by 0.6%. Avolta shares surged by 7.7% following its announced share buyback. UK economic indicators showed mixed results, with a slight GDP growth but disappointing retail sales, leading to speculation about possible interest rate cuts by the Bank of England. In a broader context, investors reacted positively to the cooler-than-expected US inflation data earlier this week.