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Markets mixed ahead of US break

Markets were mixed over the past 24 hours with Australia’s S&P/ASX200 closing down slightly but the Shanghai Composite Index tumbling, whereas Britain’s FTSE 100 had closed in positive territory.
Markets mixed ahead of US break Markets mixed ahead of US break Markets mixed ahead of US break Markets mixed ahead of US break Markets mixed ahead of US break

The US markets are closed for Thanksgiving today

Staff reporter

Both the S&P/TSX Composite Index and the S&P500 closed lower ahead of today's Thanksgiving break in the US.

The latest minutes from the US Federal Reserve's Federal Open Market Committee meeting have indicated the likelihood of a rate rise next month and the gold price rose as the US dollar weakened.

It was a positive period for the majors, BHP (AU:BHP) was up 1.3%, Rio Tinto (LN:RIO) had closed up almost 1.7% and, in Toronto, Barrick Gold (CN:ABX) rose almost 1.6%.

One of the bigger movers in Australia today was St George Mining (AU:SGQ).

The explorer was up almost 49% on news it would escalate drilling to a 24/7 programme until Christmas at its Mt Alexander nickel-copper project in Western Australia, following recent "outstanding success".

Meanwhile on the TSX Venture Exchange, Noble Metal Group (CN:NMG) rose 300% to C$0.02 (US$0.02) for no discernible reason, having last provided an update on its exploration efforts in August, when it said work had been hampered by fires, snow melts and mud slides.

Among commodities, iron ore reached its best close in two months at just over US$65 a tonne, copper reached $6,923/t and the beleaguered uranium spot price managed a slight gain of five cents to $20.20 per pound.