Metals prices have surged with the broad European Stoxx 600 seeing its Basic Resources (miners) sector rise more than 1% each of the last four days; that’s with DBB up 5% and strong performances for iron ore and copper. Steel Producers, South Africa, and Brazil have benefited. A weaker dollar has helped support gold, as well as broad swathes of EM. Over the last week, however, Mexico remains one of the worst performing ETFs while oil producers are down significantly over five sessions despite an oil rally in the last two. Pharma has also underperformed.
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