December 11, 2017 / 8:11 AM / 10 months ago

BUZZ-EU Metals & Mining: Down but not out -GS

** European miners have underperformed quite a bit on rising China fears around the pace of reforms and deleveraging being adopted by policymakers, says Goldman Sachs

** However, GS remains confident on 2018 growth (both global and China)

** Says growth coupled with muted dollar means commodities remains an attractive asset class

** GS remains “neutral” on the European Metals & Mining sector - positive on base metal exposure (copper/zinc/aluminium) and neutral to bearish on bulks (iron ore/coal)

** Upgrades First Quantum Minerals and Kaz Minerals to “buy” from “neutral” on significant volume uplift which is expected to translate into positive earnings momentum

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