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…
-
General10 hours agoMildura man given 28 years to pay $73,000 in unpaid fines and tolls
-
Noosa News23 hours agoSunshine Coast Airport receives green light for major upgrade opening doors to growth jobs and tourism across the region
-
General12 hours agoAustralia’s race to rewire the country amid a global transmission boom is not unique
-
Noosa News24 hours agoTivoli Drive-In closes amid rising operating expenses and low attendance numbers