Gold's Glittering Run Pushes Prices Above -2-

0934 GMT - London's miners are among the FTSE 100 index largest gainers as metal prices continue to climb. Chilean copper miner Antofagasta is the index second highest climber, trading up 6% after backing its 2026 outlook as copper futures reached $13,934 a metric ton. Precious metal miner Endeavour Mining's London-listed shares rise over 5% while peers Fresnillo and Hochschild Mining rise 2.8% and 1%, respectively. Diversified miner's Glencore, Anglo American and Rio Tinto all rise around 4%. The rises come as gold futures in New York climbed above $5,500 a troy ounce. A weaker dollar and expectations that the next Federal Reserve chair will favor additional monetary easing are driving the metals gain.([e-mail])

--

Glencore's Copper Beat Provides Leverage to Rio Tinto Talks -- Market Talk

0852 GMT - Glencore and the copper markets have hit their stride at precisely the right time and will no doubt help the miner's conversations with Rio Tinto, RBC Capital Markets analysts say in a note. Although 4Q copper production fell, it still beat consensus expectations by 3%, which is something of a rarity and a key focus of its results, RBC says. Shares rise 3.4% at 523 pence and are up 51% over the past 12 months. ([e-mail])

--

Oil Gains on U.S.-Iran Escalation Risks

0843 GMT - Oil prices rise to their highest level since late September, driven by concerns that the U.S. could carry out military action against Iran. Brent crude is up 1.3% to $68.28 a barrel, while WTI gains 1.1% to $63 a barrel. Iran pumps around 3.3 million barrels a day and exports roughly 1.5 million barrels a day. "This will be the most immediate supply concern," ING analysts say. Investors are also watching the Strait of Hormuz-a critical chokepoint where around 20 million barrels a day of crude flow-as any disruption could have far-reaching consequences. However, "in the absence of an escalation, bearish fundamentals should once again take center stage, leading the market to trend lower," the analysts say. Meanwhile, the latest EIA data showed U.S. crude inventories fell by 2.3 million barrels over the last week. ([e-mail])

--

Brent Crude's Rise Has Gathered Considerable Momentum, Chart Shows

0733 GMT - Brent crude oil's rapid rise has gathered considerable momentum, based on the daily chart, says Quek Ser Leang of UOB's Global Economics & Markets Research in a research report. Brent crude oil has soared after a clear break above $66.80/bbl, the markets strategist notes. If Brent breaks above last September's high of $70.75/bbl, focus will shift to the July high of $73.63/bbl, the strategist says. For Brent to extend gains further, it must hold above the 55-day exponential moving average, which is now at $63.80/bbl, the strategist adds. Front-month Brent crude oil futures are 1.4% higher at $69.38/bbl. ([e-mail])

--

Iron Ore Higher on Restocking Demand Hopes -- Market Talk

0245 GMT - Iron ore is higher in early Asian trade. Steel mills are expected to accelerate restocking following recent price drops, providing a support floor for iron ore prices, according to Nanhua Futures analysts in a research note. Investors are also closely watching disruptions to shipments and production caused by the monsoon and rainy season in the Southern Hemisphere, they say. The most-traded iron-ore contract on the Dalian Commodity Exchange is 0.7% higher at CNY789.5 a ton. ([e-mail])

Write to Barcelona Editors at [e-mail]

(END) Dow Jones Newswires

01-29-26 0920ET