by Tara Cunningham & Peter Spence
Market Report: Miners suffer sharp sell-off on bearish UBS note
Commodity-related stocks came under renewed pressure after UBS cautioned that iron ore prices could trade lower in the second half of this year.
The latest mining sell-off occurred after a bearish note from UBS questioned whether or not we’d seen the 2016 peak for miners.
Although the bank’s China construction index, a function of land sales, housing starts, completions and starts in the world’s second largest economy, rose significantly in April, UBS analysts highlighted that developers in China still “sound sound cautious”.