Rio Tinto's Share Price Increases 10% in a Week: How to Play It?
RIORio Tinto(RIO) ZACKS·2024-10-01 01:55

Rio Tinto Group (RIO) shares have gained 10.3% in the past week, outperforming the industry's 9.7% rise and the Basic Materials sector's 4.9% return. The S&P 500 has moved up 0.4% in the same timeframe. The recent jump in the RIO stock is attributed to China's announcement of the largest stimulus package since the pandemic in an attempt to revive its economic growth to its 5% target for 2024. This has led to a muchawaited recovery in iron ore prices, which so far have been weighed down by weak demand in Chi ...