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Mixed results for miners, markets

Key North American and Asian market indices closed higher yesterday but European indices including the FTSE100 were lower as the Brexit headache continues.
Mixed results for miners, markets Mixed results for miners, markets Mixed results for miners, markets Mixed results for miners, markets Mixed results for miners, markets

Newmont’s Boddington operations. Image: Newmont Mining

Staff reporter

A US-style government shutdown has reportedly been threatened by some British MPs concerned about leaving the EU without a deal.

Meanwhile US and China officials are holding trade talks, while the US dollar is lower amid indications from the Federal Reserve of "flexibility", or the possibility of fewer rate hikes in 2019.

The gold price is about US$7 an ounce lower than this time yesterday, around $1,282/oz on the spot market.

Miners appeared broadly out of favour in North America yesterday, with Toronto's metals and mining stocks closing down 0.29% and gold major Newmont Mining (NYSE: NEM) down about 1%.

It was a similar case in Australia this afternoon, with mining stocks representing the top five declines on the S&P/ASX200.

Gold producers Resolute Mining (ASX: RSG), St Barbara (ASX: SBM) and Evolution Mining (ASX: EVN) had all lost more than 4% at the time of writing.

In London, copper producer Antofagasta (LSE: ANTO) and precious metals miner Fresnillo (LSE: FRES) provided some relief yesterday with gains of more than 3% and 4.6% respectively.