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Glencore, GoWest among market risers

Trade tensions subsided slightly and various economic stimulus plans mooted in Germany and China helped contribute to a positive period on equity markets.
Glencore, GoWest among market risers Glencore, GoWest among market risers Glencore, GoWest among market risers Glencore, GoWest among market risers Glencore, GoWest among market risers

Higher prices helped boost BHP’s results, with the company announcing a record dividend today

Staff reporter

North American market futures were looking positive but European futures were pointing to a negative start at the time of writing.

Economic bellwether copper closed up 0.45% on the London Metal Exchange yesterday.

Mining equities gained in London yesterday, led by Glencore's (LSE: GLEN) rise of 3.81%.

In Toronto, junior GoWest Gold (TSXV: GWA) had a good day out, gaining 80.77% as it reported reaching a settlement enabling it to seek a refinancing solution. However its shares remain down 41.25% so far this year.

Turquoise Hill Resources (TSX: TRQ) closed down 4.76% yesterday to C60c, just 2c above a one-year low reached a week earlier.

Its share price has plunged 73% year-to-date as delays and a cost blowout loom at the underground expansion of its flagship asset, a stake in the Oyu Tolgoi copper-gold mine in Mongolia.

The metals and mining sector was one of the few in the red in lunchtime trade on the ASX.

BHP (ASX: BHP) was down 0.5% after announcing a record dividend but flat total revenue and profit after tax up by 124%.

The gold stocks on the S&P/ASX200 were off 2% collectively, with Saracen Mineral Holdings (ASX: SAR) down a further 4.58% after yesterday's record results.

The gold price has slid below US$1,500 an ounce to $1,494.45/oz on the spot market and markets are awaiting interest rate clues from US Federal Reserve minutes out this week and a central bank conference at Jackson Hole on Friday.

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