CAPITAL MARKETS

Markets positive but miners mixed

Market futures are pointing to a positive start to the week for key global indices, while last week’s recession fears have helped keep the gold price above US$1,500 an ounce on the spot market.

Staff reporter
 Avesoro has suspended its Youga gold mine in Burkina Faso after a security breach

Avesoro has suspended its Youga gold mine in Burkina Faso after a security breach

The benchmark S&P/ASX200 has improved after Friday's slump and BHP (ASX: BHP) was up 0.58% at the time of writing.

However Australian gold miner Saracen Mineral Holdings (ASX: SAR) was down 4.3% after today announcing a record profit, with production increasing and costs dropping and an inaugural dividend policy applying from FY2020.

Mining stocks in Toronto were unchanged overall on Friday, as was Avesoro Resources (TSX: ASO) which has suspended its Youga gold mine in Burkina Faso and evacuated staff after reporting an armed group of artisanal miners "temporarily overran" the camp earlier this month and tried to steal ore.

It said government security forces were on site to protect the company's assets and it would provide a further update in due course.

British and North American market indices closed higher on Friday.

Newmont Goldcorp (NYSE: NEM) was up slightly by 0.16% in New York, while in London Rio Tinto (LSE: RIO) finished Friday down 0.52%.

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