Share Prices & Company Research

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09 Mar 2021 | 08:53

Europe open: Shares flat as miners fall on softer commodities

(Sharecast News) - European shares were flat at the opening on Tuesday as mining stocks fell on weaker commodity prices.

The pan-European STOXX 600 was unmoved in early trade, with regional bourses mixed. US futures indicated a positive opening on Wall Street.

"It's not a surprise that the markets have paused this Tuesday, catching their breath after sprinting to the close on Monday," said Spreadex analyst Connor Campbell.

"Looking to inject the markets with a bit of energy later on, the Dow Jones is set to counter Europe's sluggish start with a 180 point rise when the bell rings on Wall Street. Still celebrating Joe Biden's stimulus package, that'd leave the Dow within touching distance of 32,000, and back in the running for an record peak of its own."

Heavyweight miners Rio Tinto and BHP Group were down by more than 2%.

Shares in UK insurer and asset manager M&G rose more than 5% as the company reported a better-than-expected 31% fall in 2020 operating profit to £788m pounds in its first full year as a standalone company.

German automotive parts maker Continental AG fell 5.1% after it reported a 12.7% drop in group sales, thanks in part to falling revenue in the automotive, rubber and powertrain divisions.

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