Stock Movers European Miners Fall, UBS Gains, MJ Gleeson Slump
Jun 3, 2025
European miners are feeling the pressure as base metals drop, fueled by dismal news about China's manufacturing sector. In contrast, UBS is surging, boosted by an upgrade that hints at a turnaround in its fortunes. Meanwhile, MJ Gleeson is facing tough times after cutting its guidance due to a sluggish housing market and planning delays. It's a tale of two sectors—mining woes and banking gains—unfolding in real-time.
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Miners Hurt by China's Contraction
- European miners are falling around 3% due to China's manufacturing contraction. - Despite this, analysts remain positive with many recommending buying these stocks.
UBS Capital Concerns Overdone
- UBS shares rose as Jefferies upgraded the stock to buy from hold. - Market concerns about UBS's capital needs post-Credit Suisse merger are seen as overdone.
MJ Gleeson Hit by Slow Housing Market
- MJ Gleeson cut guidance due to slow housing market recovery in northern England and Midlands. - Mortgage approvals are declining, indicating rates remain too high for buyers.