Wij gebruiken een aantal cookies om u de best mogelijke browserervaring te bieden. Door deze website te blijven gebruiken, gaat u akkoord met ons gebruik van cookies. U kunt hier meer lezen over ons cookiebeleid of op de link klikken onderaan iedere pagina van onze website.
Rio Tinto (Q1 update 17 April)
Rio Tinto's focus on iron ore will remain the chief story here, as the solid improvement in prices results in further divestments of some projects. Improved Chinese demand will also help support earnings, while cash returns should remain strong as the firm looks to continue asset sales in other metals such as aluminium and copper. A chunky dividend of 5.7% remains a key attraction for the shares.
Rio Tinto shares have fallen below the rising trendline that has held since June 2016. Worryingly for the bulls, the price has then rebounded and tested the trendline from below, but what was previously support has become resistance, with a push to £37.40 being repulsed. The next levels to watch on the downside are £34.85 and then £33.98. A daily close above £37.60 is needed to help restore the bullish outlook.