Middle East Conflict to Hit European Mining and Steel Stocks -- Market Talk

Dow Jones
Mar 09

1118 GMT - European mining and steel companies could suffer as escalating conflict in the Middle East damps Europe's growth outlook and threatens to push interest rates higher, analysts at J.P. Morgan say. The conflict will cause similar consequences to those which followed Russia's full-scale invasion of Ukraine in 2022--a conflict that triggered a fall of around 40%--the analysts say. Metal prices are disproportionately hurt by knocks to global growth, a risk that isn't properly reflected in the sectors' stock prices, they add. Steelmaker ArcelorMittal falls 6.45%, while copper and iron ore miner Anglo American drops 6.3%. Austrian steel company Voestalpine tumbles 9%.(josephmichael.stonor@wsj.com)

 

(END) Dow Jones Newswires

March 09, 2026 07:19 ET (11:19 GMT)

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