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Markets up, miners mixed

Major market indices closed higher in the wake of US mid-term election results, which set the scene for an era of checks and balances with a split Congress.
Markets up, miners mixed Markets up, miners mixed Markets up, miners mixed Markets up, miners mixed Markets up, miners mixed

Junior Yellowhead Mining gained on no news

Staff reporter

Meanwhile the latest trade data out of China has showed a surge in exports and imports for October, Bloomberg reported, months before the next round of tariff hikes in the trade war with the US is set to kick in.

Base metal futures were mixed however in Asian trade this afternoon, with nickel more than 1% lower.

Market attention will now turning to the looming interest rate decision by the US Federal Reserve's policy committee.

The spot gold price is about US$7 an ounce lower than this point yesterday, around $1,223/oz.

The metals and mining sectors closed higher on the S&P500 and the FTSE100 yesterday, both up around 1.5%.

However the sector closed down 0.57% in Toronto, where IAMGOLD (TSX: IMG) lost 8.19% after reporting a weak third quarter and plans to double its credit facility. 

At the junior end of town, copper hopeful Yellowhead Mining (TSXV: YMI) gained more than 53% yesterday to close at C20c on no news.

It has had little to say since British Columbian officials denied its request in July for an extension on its environmental assessment application, with Yellowhead saying at the time it was "considering its alternatives in light  of this development".

Finally, in Australia, BHP (ASX: BHP) closed down about 0.3% after its AGM in Adelaide, where chairman Ken MacKenzie said the company had a good year and was "on course to make further progress in 2019".

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