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Copper Industry April Update (Part 10 of 10) (Continued from Part 9) European economic data
Previously in this series, we discussed Chinese indicators, the US economy, and how each of these variables affects copper. In this part, we’ll analyze the latest European economic data.
Investors in Vale (VALE), Stillwater Mining (SWC), and BHP Billiton (BHP) should keep an eye on the European markets. Europe (VGK) accounts for almost one-fifth of global copper consumption. The iShares MSCI EAFE ETF (EFA) seeks to invest in developed markets equities excluding North America. It has invested in several major European companies.
Vehicle registrations
March vehicle registration in the EU (European Union) increased by 10.3% on a year-over-year basis, as you can see in the chart above. Apparently this is the highest growth rate in the last year.
The automobile sector is a major consumer of copper products. Higher vehicle sales in Europe are positive for the copper industry.
Manufacturing PMI
PMI figures are released on a monthly basis by Markit. Readings above 50 generally indicate economic expansion, while a reading below 50 indicates a contraction. European PMI was 52.2 in March, the highest it’s been since May last year. Manufacturing PMI in Europe has held above 50 for several months. A PMI above 50 augurs well for future economic growth in Europe.
For more on the latest developments in Europe, read How Europe’s QE Could Be a Stimulus for US-based Investors.
The latest economic data point to a recovery in the European economy. However, there are still several sectors, such as housing, where demand is weak. The EU construction confidence index has been negative for several months now. The contagion effect of the Greek situation is another potential risk for the Eurozone.
You can learn more about the copper industry by visiting our Copper page.
Browse this series on Market Realist:
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Stillwater Mining Co
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PRODUCTEUR |
CODE : SWC |
ISIN : US86074Q1022 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Stillwater Mining est une société de production minière de cuivre et de nickel basée aux Etats-Unis D'Amerique. Stillwater Mining est productrice de cuivre, de nickel, de palladium, de pgm et de platine en USA, et détient divers projets d'exploration au Canada. Ses principaux projets en production sont EAST BOULDER MINE, STILLWATER MINE et EAST BOULDER en USA et son principal projet en exploration est SIM LAKE au Canada. Stillwater Mining est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 2,2 milliards US$ (2,0 milliards €). La valeur de son action a atteint son plus bas niveau récent le 21 novembre 2008 à 1,76 US$, et son plus haut niveau récent le 03 mai 2017 à 18,00 US$. Stillwater Mining possède 121 080 187 actions en circulation. |