Zijin Mining (2899 HK) is to buy Canada's Allied Gold for USD 4bln
Zijin Mining's acquisition of Allied Gold for USD 4 billion signals significant confidence in the gold sector, particularly amidst ongoing market volatility.
Chinese Industrial Profits YoY (Dec) Y/Y 5.3% (Prev. -13.1%)
Chinese Industrial Profits (YTD) YoY (Dec) Y/Y 0.6% (Prev. 0.1%)
Zijin Mining (2899 HK) is to buy Canada's Allied Gold for USD 4bln
PBoC injects CNY 402bln via 7-day reverse repos with the rate at 1.40%
PRE-MARKET CHINESE STOCKS NEWS: ANTA Sports Products (2020 HK) is to acquire a 29.1% stake in Puma (PUM GY) for EUR 1.5bln
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This deal could provide Zijin with strategic assets, potentially enhancing their competitive positioning in the commodities space. Keep an eye on how this affects gold prices and related equities, as well as the broader implications for M&A activity in the mining sector.
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