BUSINESS DAY TV: Mining shares are up this year and confidence should continue
John Meyer from SP Angel Corporate Finance discusses whether recent gains in the oil price are likely to be sustained and gives his outlook for gold and platinum
John Meyer is a partner at SP Angel Corporate Finance. BUSINESS DAY TV: Global commodity markets have seen the upside of Chinese domestic policies, a Trump triumph in the US, and Organisation of the Petroleum Exporting Countries (Opec) and non-Opec members are now seemingly singing off the same hymn sheet and curbing production. But, with a whole lot of uncertainty still dominating the global economy, is the momentum sustainable? John Meyer of SP Angel joins us now on the line with a look in the rear-view mirror and at the road ahead. John, to what extent are we looking at commodity markets rebalancing here, with most commodities ending 2016 in positive territory and, according to Citi Research, yielding tangible investor returns for the first time in six years? JOHN MEYER: We have seen a good recovery in the major mining shares. They’re up about 106% on this year and we would expect those companies to continue to regain confidence within the major investor base, and they’re also dr...
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