CAPITAL MARKETS

Trade optimism buoys markets

Miners on the move

Staff reporter

This article is 5 years old. Images might not display.

Negotiators have agreed to properly resolve their concerns, Bloomberg reported, with presidents Donald Trump and Xi Jinping aiming to sign a pact in Chile next month.

The S&P500 closed up 0.4% on Friday to 3,022.55, near a record high.

Meanwhile the gold price remains above US$1,500 an ounce, about $1,504/oz on the spot market, ahead of a US Federal Reserve meeting this week where another rate cut is assumed likely.

In Toronto, Yamana Gold (TSX: YRI) enjoyed a 7.4% jump on Friday.

The miner had announced on Thursday it would double its dividend thanks to a strong September quarter.
 
Metals and mining stocks were up 1.6% in Toronto.

Precious metals producer Fresnillo (LSE: FRES) was one of the bigger risers in London on Friday, gaining 3.9%.

Lithium miners were rising in Australian midday trade, with Orocobre (ASX: ORE) up 5.6%, Pilbara Minerals (ASX: PLS) up 5.4% and Galaxy Resources (ASX: GXY) gaining 4.2%.

The gains followed last week's dents amid news of further production cutbacks due to price weakness.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.