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Markets looking positive as uncertainties continue

US and UK market futures were shaping up for a positive start to the week after a lower finish on Friday.
Markets looking positive as uncertainties continue Markets looking positive as uncertainties continue Markets looking positive as uncertainties continue Markets looking positive as uncertainties continue Markets looking positive as uncertainties continue

Vale’s Carajás mine in Brazil

Staff reporter

US-China trade war - and Brexit - uncertainties continue and markets await a slew of US data this week that may offer clues on the robustness of the economic expansion, Bloomberg noted.

Meanwhile, the MySteel 62% iron ore price hit US$100.35 per tonne on Friday, its highest point in about five years, as supply concerns continue.

Brazil major Vale SA had warned last week it had identified movement on the slope of the Gongo Soco pit in Minas Gerais and was evaluating the potential impacts on its Sul Superior dam 1.5km away.

Australian gold stocks were mixed today and diversified miners were lower overall in afternoon trade.

BHP (ASX: BHP) was down about 0.5% at the time of writing.

The benchmark S&P/ASX200 was higher in the first day of trade since the weekend's federal election, with the Liberal-National Party coalition set to return to power.

Newmont Goldcorp (NYSE: NEM) closed up 1.2% on Friday despite the gold price starting to slide.

It is worth about $1,276 an ounce on the spot market, having briefly risen above the $1,300/oz mark a week ago.

Moves by Toronto's gold equities on Friday were bookended by Turkey-focused producer Alacer Gold's (TSX: ASR) rise of 4.4% and New Gold's (TSX: NGD) drop of 6.5%.

Canada's markets are closed today for a public holiday.