CAPITAL MARKETS

Improved period for miners

It has been a better 24 hours for most mining stocks, with bullion and base metal prices on the rise and optimism in the air ahead of US-China trade talks slated for later this week.

Staff reporter
Anglo American’s Mogalakwena platinum mine

Anglo American’s Mogalakwena platinum mine

Base metals futures, bar tin, were higher in Asian trade this afternoon and gold was higher than this time yesterday, up about US$10 to more than $1,195 an ounce on the spot market earlier.

The S&P500 is close to a record high and metals and mining stocks on the index were in positive territory yesterday, thanks to Freeport-McMoRan's gain of 1.07%.

Miners were similarly on the rise in London yesterday, up 0.61% overall on the FTSE100.

Anglo American (LSE: AAL) was the best performer with a gain of 1.3% on no news.

In Toronto, metals and mining stocks managed a rise of 0.17% yesterday thanks to strength in the gold sector.

B2Gold (TSX: BTO) led the way higher, closing up more than 7.7%. So far this month it has reported strong June quarter results and that the Malian government will acquire an additional 10% in the Fekola mine. 

However metals and mining stocks were lower on the benchmark S&P/ASX200 in mid-afternoon trade.

BHP (ASX: BHP) was down about 1.7% at the time of writing after its full-year results fell short of expectations. 

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