BUZZ-Vale, BHP, Rio Tinto, Teck: China rate cut could boost commodity prices

Fri Nov 21, 2014 11:15am EST
 
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** Shares of mining companies up as China's surprise interest rate cut could lead to higher demand for commodities

** U.S.-listed shares of Vale SA up 8.5 pct, Rio Tinto Plc up 5.7 pct

** BHP Billiton Ltd up 4.6 pct and Teck Resources Ltd up 9 pct

** China's first rate cut in more than two years comes as factory growth stalls and the property market is weak, dragging on broader activity and curbing demand for everything from furniture to cement and steel

** "Commodity prices have risen across the board," says Carsten Fritsch, senior oil and commodities analyst at Commerzbank. "There is hope that this step (lower Chinese interest rates) will lift commodities demand."