Rio Tinto (LON:RIO) trails FTSE as iron ore prices hit lithium push
London stocks were open for their usual weekday session with the clock on. Rio Tinto plc traded at 7,140p ask, off 26p or 0.36%. That put shares a bit below the FTSE 100, which slipped 0.19% to 10,488.30 as of 09:46 BST. That slight lag is an issue since Rio is still mainly priced as an iron ore stock. AJ Bell calls iron ore Rio’s top commodity, with copper and aluminium bringing in less. AJ Bell puts Rio’s market cap at £116.16 billion, shows a 4% dividend yield and a price/earnings ratio of 16.31 for its London shares.