High-profile US investor Warren Buffett said "never bet against America" at Berkshire Hathaway's annual meeting on the weekend, and also revealed the company had sold all its airline holdings.
He sent a warning to financial markets that this crisis is different to the GFC as consumer behaviour would be changed for a long time to come, Marex Spectron's Anna Stablum noted.
Australia's treasurer Josh Frydenberg has reportedly estimated the country's economy will take an A$50 billion hit in the June quarter and believes the COVID-19 economic shock confronting the world dwarfs the GFC.
Meanwhile SouthGobi Resources (TSX: SGQ), which owns the Ovoot Tolgoi coal mine in Mongolia, was one of the bigger risers in Toronto yesterday with a gain of 53.8% or C3.5c - despite warning investors last week to exercise caution when dealing in the company's securities until it lodged its 2019 annual filings.
The company has said it stopped coal mining in February but was able to resume limited exports to China from March 28, after the Ceke port on the border between the two countries was re-opened on a trial basis.
Wallbridge Mining (TSX: WM) has notched up another double-digit rise, up circa 17% after its takeover target Balmoral Resources announced a high-grade gold discovery on its neighbouring property in Quebec last week.
Finally, Newmont (NYSE: NEM) rose 2.8% in New York despite the gold price easing and dropping to just below US$1,700 an ounce on the spot market earlier.
