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Trade optimism buoys markets

Key market futures are positive around the globe today as the first step in a US-China trade deal appears closer.
Trade optimism buoys markets Trade optimism buoys markets Trade optimism buoys markets Trade optimism buoys markets Trade optimism buoys markets

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Staff reporter

Negotiators have agreed to properly resolve their concerns, Bloomberg reported, with presidents Donald Trump and Xi Jinping aiming to sign a pact in Chile next month.

The S&P500 closed up 0.4% on Friday to 3,022.55, near a record high.

Meanwhile the gold price remains above US$1,500 an ounce, about $1,504/oz on the spot market, ahead of a US Federal Reserve meeting this week where another rate cut is assumed likely.

In Toronto, Yamana Gold (TSX: YRI) enjoyed a 7.4% jump on Friday.

The miner had announced on Thursday it would double its dividend thanks to a strong September quarter.
 
Metals and mining stocks were up 1.6% in Toronto.

Precious metals producer Fresnillo (LSE: FRES) was one of the bigger risers in London on Friday, gaining 3.9%.

Lithium miners were rising in Australian midday trade, with Orocobre (ASX: ORE) up 5.6%, Pilbara Minerals (ASX: PLS) up 5.4% and Galaxy Resources (ASX: GXY) gaining 4.2%.

The gains followed last week's dents amid news of further production cutbacks due to price weakness.