Rio Tinto extended its six-day winning streak after adding 1.13% and closing at $79.88 yesterday

Published: January 26 2023, 07:21 GMT+0

Rio Tinto extended its six-day winning streak after adding 1.13% and closing at $79.88 yesterday

A quick look at yesterday: the global mining and metals juggernaut went up to $79.88, gaining 1.13%.

  • The day's trading volume totalled 2.16 million shares — slightly below the 21-day average of 2.38 million.

With around 7 hours until market open on the New York Stock Exchange, yesterday's session was notable in that S&P 500 performed relatively strongly, finishing the day at 4,016.22. Rio Tinto went up yesterday and similar gains were seen throughout the Basic Materials sector (up 0.873%).

This year has been a bright one for the global mining and metals juggernaut after trading as low as $51.22 and going on to appreciate by 11.16% year to date. The S&P has been doing worse in 2022, it has been passing it by 6.38%. The company's market cap currently stands at $129.47 billion with an average daily volume of 2.38 million shares.

A look at other materials stocks also showed bullish price action as BHP Billiton traded at $70.76 after closing yesterday's trading day at $69.76 (up 1.43%).

Rio Tinto went up yesterday, yet these materials stocks did not follow — Linde went down to $326.36, losing 0.69% after it closed at $328.63 yesterday.

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