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'Worst month' almost over

What is “shaping up as the worst month for global stocks in more than six years”, as Bloomberg puts it, is almost over.
'Worst month' almost over 'Worst month' almost over 'Worst month' almost over 'Worst month' almost over 'Worst month' almost over

Copper majors gain, Guyana Goldfields drops

Staff reporter

Base metal futures were lower in Asian trade this afternoon as disappointing manufacturing data was released in China today.

The US dollar has edged higher and the gold price has fallen about US$10 an ounce since this time yesterday, to less than $1,218/oz on the spot market.

Metals and mining stocks on the benchmark S&P/ASX200 were lower at time of writing, with BHP (ASX: BHP) down 0.03%.

Mining equities had closed lower in London yesterday, where Glencore (LSE: GLEN) closed down 1.22%.

In New York however, the select few miners on the S&P500 closed a collective 1.84% higher, with copper major Freeport-McMoRan up 2.89%.

Copper producer First Quantum Minerals closed up 5.68% in Toronto after it increased its full-year copper guidance but lowered its gold outlook.

Metals and mining stocks finished in positive territory on the S&P/TSX Composite Index, up 1.13%, despite Guyana Goldfields' (TSX: GUY) drop of more than 47% as investors shared the company's "disappointment surrounding the revised production guidance".