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Market volatility over trade talk tensions

Volatility is on the cards as markets await the outcome of this week’s trade talks between the US and China.
Market volatility over trade talk tensions Market volatility over trade talk tensions Market volatility over trade talk tensions Market volatility over trade talk tensions Market volatility over trade talk tensions

Clouds gather over Hudbay regarding Peru project

Staff reporter

"The two largest economic powerhouses, the US and China, either will be at a trade war or a trade peace and in reality there's only a couple of people who know the answer to that and it isn't those of us on Wall Street," Glenview Capital Management CEO Larry Robbins told Bloomberg TV.

"It's going to be expected that there's some volatility into this critical week."

European and Toronto market futures were set for a lower start today while US futures were pointing positively at the time of writing.

Base metal futures were mainly higher in Asian trade and the gold price was worth a little more than this time yesterday, close to US$1,287 an ounce on the spot market.

Australian gold miners were on the rise, with Northern Star Resources (ASX: NST) up 3.87% in afternoon trade.

BHP (ASX: BHP) was down 1.1% as it faces a $5 billion UK lawsuit, relating to the 2015 Samarco dam failure in Brazil, which it intends to defend.

Finally in Toronto, Hudbay Minerals (TSX: HBM) slid after reporting a $22.3 million loss for the March quarter and further consultation requirements for its planned Pampacancha project at Constancia in Peru.

Its shares closed down 11.4% or C$1, to $7.76, a midpoint in its 52-week range.