FTSE100 Miners Rise, Support Growth in PICK ETF

Shares in mining companies representing six of the top-10 holdings of exchange-traded fund PICK grew as much as 6% on Friday on the back of rising commodity prices, a trend that pushed the fund's share price up.

--PICK, which focuses on steel and integrated mining companies, counts shares in the London listings for Anglo American PLC (AAL.LN), Glencore PLC (GLEN.LN), Rio Tinto PLC (RIO.LN) and BHP Billiton PLC (BLT.LN) among its holdings. It also holds Australian-listed shares of Rio Tinto Ltd. (RIO.AU) and BHP Billiton Ltd. (BHP.AU).

-- Glencore led the pack, rising 6% to 340.85 pence a share in early trade, from the closing price on Thursday of 321.70 pence. Bringing up the rear was Rio Tinto Ltd., which closed up 1.8% in Australia at A$79.49.

--According to issuer BlackRock, the fund, iShares MSCI Global Metals & Mining Producers (PICK), has net assets of $390.3 million. The six holdings account for 34.5% of the fund's total holdings. PICK's shares rose 1% in early trade.

--Glencore and Rio Tinto's London-listed shares currently lead the rising stocks of the week on the Stoxx Europe 50.

Write to Oliver Griffin at ([e-mail]; @OliGGriffin)

(END) Dow Jones Newswires

September 21, 2018 10:11 ET (14:11 GMT)

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