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Markets in celebratory mood

It was a positive period on the markets around the globe and futures were likewise looking up, with more records set as M&A and US-China trade truce optimism boosted sentiment.
Markets in celebratory mood Markets in celebratory mood Markets in celebratory mood Markets in celebratory mood Markets in celebratory mood

Moet & Chandon. Image: Unsplash/Deleece Cook

Staff reporter

The three key US market indices closed at further record highs yesterday -  the fourth closing record for the Dow, S&P 500 and Nasdaq in the past seven sessions, Reuters noted.

Mergers and acquisitions were making news, from Kirkland Lake's bid for Detour Gold, Newmont Goldcorp selling Red Lake to ASX-listed Evolution Mining and in the luxury space, jewellery company Tiffany & Co agreeing to a deal from France's LVMH, the company behind brands including Moet & Chandon.

Kirkland Lake Gold (TSX: KL) plunged to close 17% lower on news of its all-scrip bid for Detour which implied a value of C$4.9 billion.

Detour (TSX: DGC) meanwhile finished 1.8% higher.

Newmont Goldcorp (NYSE: NEM) closed about 0.9% lower and the gold price has drifted to US$1,455 an ounce on the spot market.

Evolution (ASX: EVN) for its part was up about 2% in morning trade.

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