London, January 19, 2026, 10:08 GMT — Regular session
- Antofagasta shares edged higher by 0.5%, trading at 3,578 pence in early London session
- Broader European stocks dipped following new U.S. tariff warnings, sparking a risk-off mood
- Investors turn their attention to Antofagasta’s production report due Jan. 29 and earnings set for Feb. 17
Antofagasta (ANTO.L) shares edged up 0.5% to 3,578 pence at 1008 GMT, finding some footing after last week’s volatility, despite broader declines across European markets.
This shift is significant since the Chile-focused copper miner stands right where two volatile trades collide: a copper market tight on supply and driven by headlines, and a European equity scene jolted by trade-war jitters.
European shares slid on Monday following U.S. President Donald Trump’s threat of new tariffs targeting multiple European nations, rattling investors and fueling caution. Kyle Rodda, senior financial market analyst at Capital.com, noted, “After a low-volatility start to the year, equities may experience some downside pressure.” Reuters
Antofagasta relies heavily on copper. The metal, essential for power cables and data centres, has seen prices pushed up by supply worries and rising demand linked to electrification and AI. Copper even touched record highs earlier this month, according to Reuters.
The risk-off tone took a curious turn for metals: the dollar slipped versus haven currencies amid tariff fears rattling markets. That dynamic often props up dollar-priced commodities, even as stocks falter.
Company-specific headlines were scarce on Monday. No new regulatory news service (RNS) updates from Antofagasta appeared on the LSE feed as of this writing.
All eyes now turn to Antofagasta’s upcoming releases. The miner plans to report its Q4 2025 production figures on Jan. 29, with full-year 2025 results set for Feb. 17, per its financial calendar.
Investors are set to zero in on copper output, unit costs, and any updates on capex and project timelines. This comes as peers across the sector balance expansion plans amid volatile prices and rising political risks.
The downside is clear. Should tariff threats escalate into real measures that dent growth forecasts, industrial metals could see rapid repricing — and miners typically fall even harder than the metals themselves.
Aside from Antofagasta’s updates, traders are eyeing the World Economic Forum in Davos for clues on tariffs and potential ripple effects in base metals throughout the week.
