Rio Tinto Slips After China Move Rattles Miners
Rio Tinto shares fell 1.4% to 7,655 pence in early London trading Monday, underperforming the FTSE 100 after weak Chinese industrial and retail data hit mining stocks. BHP and Fortescue also dropped in Australia as resource shares sold off. China’s April industrial output and retail sales missed forecasts, raising concerns over metals demand. Asian markets declined amid rising oil prices and regional tensions.