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Markets move, Iluka lower

News of face-to-face trade talks between the US and China next Monday was buoying markets in Asian trade today, while UK futures were pointing lower with Boris Johnson set to replace Theresa May as prime minister tomorrow.
Markets move, Iluka lower Markets move, Iluka lower Markets move, Iluka lower Markets move, Iluka lower Markets move, Iluka lower

Boris Johnson is set to become the UK’s new prime minister tomorrow

Staff reporter

Copper major Freeport-McMoRan (NYSE: FCX) closed about 1.4% higher yesterday ahead of its quarterly financial results due out later today.

The gold price was trading close to US$1,421 an ounce on the spot market earlier.

Gold stocks were lower in Toronto yesterday, while diversified Teck Resources (TSX: TECK.B) gained 2.3%.

Diversified majors also had a positive day in London, led by Glencore (LSE: GLEN) gaining about 1.2%.

Metals and mining stocks were off 0.2% in afternoon Australian trade.

Mineral sands producer Iluka Resources (ASX: ILU) was down more than 9% after saying its zircon sales might be lower than production in 2019.

It said zircon sales had been affected by trade and geopolitical tensions impacting sentiment in key markets, along with strict environmental regulations in China maintaining pressure on the manufacturing sector, affecting production and costs.