Business
Here’s why the Rio Tinto (ASX:RIO) share price jumped 9% to a record high today
It certainly was a stunning day of trade for the Rio Tinto Limited (ASX: RIO) share price on Thursday.
The mining giant’s shares stormed as much as 9% higher to hit a record high of $126.18 before ending the day 8.5% higher at $125.66.
Also hitting new highs today were its rivals BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG).
Why did the Rio Tinto share price rocket higher?
Investors were fighting to buy the company’s shares on Thursday after the iron ore price continued its ascent following positive news out of the US.
The steel making ingredient and other commodities climbed higher after the Democrats won the Georgia Senate run-off. This effectively hands control of the Senate to the Democrats, paving…
-
Noosa News17 hours agoJaye Lee Walton, charged with manslaughter over death of baby boy, has matter heard in court
-
Noosa News23 hours agoAustralia’s red wine glut set to worsen after increase in national grape crush
-
General22 hours agoEconomists point to tariffs as US prices edge up
-
Business24 hours agoHow I’d invest $250,000 in Australian dividend stocks to never worry about money again