Nov 06, 2024 (The Australian - ABIX via COMTEX) --
Analysts expect global sharemarkets to rally in the wake of Donald Trump's presidential election win. Ord Minnett CEO Karl Morris notes that stocks that could benefit from a second Trump administration have already posted solid gains. Bitcoin has also rallied, given Trump's strong support for the cryptocurrency, and Digital Wealth Group founder Sydel Sierra expects it to reach $220,000 within a year. Meanwhile, Trump may clear the way for BHP and Rio Tinto to proceed with their Resolution copper project in Arizona, which has stalled under the Biden administration. However, there are fears that Australian exports of commodities such as iron ore, coal and LNG could be hit if Trump's proposed tariff regime sparks a US-China trade war..
Publication Date: 7 November 2024
ORD MINNETT GROUP LIMITED
BHP GROUP LIMITED - ASX BHP
RIO TINTO LIMITED - ASX RIO
COMTEX_459538434/2229/2024-11-06T18:11:12
By Glenda Korporaal
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