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Markets upbeat following fresh highs

Market futures were mostly pointing to a positive start to the week amid fresh hopes of US-China trade talk progress, while the S&P500 closed at a new record high on Friday.
Markets upbeat following fresh highs Markets upbeat following fresh highs Markets upbeat following fresh highs Markets upbeat following fresh highs Markets upbeat following fresh highs

The Super Pit at Kalgoorlie, Western Australia

Staff reporter

The index finished at 3,120.46 points, meanwhile Toronto's Composite Index, Australia's All Ordinaries, Germany's DAX, France's CAC40 and Japan's Nikkei 225 are all close to 52-week highs.

There was no market reaction to today's big news in Australia's gold space, of Saracen Mineral Holdings buying Barrick Gold's 50% stake in the Super Pit at Kalgoorlie for US$750 million, with Saracen in a trading halt pending an associated institutional placement and entitlement offer.

The gold price has dropped below $1,467 an ounce on the spot market.

Dual-listed Resolute Mining (ASX, LSE: RSG) was off 4% in afternoon Australian trade, despite maintaining its FY19 production guidance as its sulphide roaster at Syama in Mali remains offline.

The roaster is expected to be repaired and fully operational in early to mid-December, Resolute said.

Copper had closed up about 0.65% on the London Metal Exchange on Friday while other base metals except aluminium finished the week lower.

In Toronto, metals and mining equities were up a collective 1.8% on Friday and Teck Resources (TSX: TECK.B) closed up 3%.