Pummeled by Oil Bets, Freeport and Teck Get Some Crude Reward
- Oil climbed as much as 13 percent Friday to approach $30
- Canada’s biggest diversified miner jumped 20 percent
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Teck Resources Ltd. and Freeport-McMoRan Inc. led a mining stock rally on Friday as surging oil prices provided relief for their foray into energy before prices tumbled.
Shares in Freeport surged 13 percent to $5.52 at 1:34 p.m. in New York, while Teck, Canada’s biggest diversified miner, jumped 20 percent to C$6.19 in Toronto. They were the best performers in the Bloomberg Americas Mining Index.