14th Aug 2014 16:20
LONDON (Alliance News) - Blackrock World Mining Trust PLC said Thursday that it underperformed its benchmark in the half-year to June 30.
The trust posted a total return on net asset value per share of 0.8%, under performing its benchmark, the Euromoney Global Mining Index which saw a return of 3.0%.
It proposed an interim dividend of 7.00 pence, maintained from the previous year.
The company said that following a challenging 2013, the mining sector had seen positive returns so far in 2014, as the market environment was more stable. Commodity price moves have been mixed, it said, with base and precious metals generally outperforming bulk commodities.
"As sentiment towards the sector has improved and tightness has returned to specific areas of the commodities markets, such as in nickel, we have seen the positive performance become increasingly widespread across the market cap spectrum," the company said in a statement.
The trust closed up 0.2% at 500.10 pence Thursday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
BlackRock World Mining Trust plc