CAPITAL MARKETS

Markets hit fresh highs on talk of US-China talks

Reports of the US and China agreeing to continue phase-one trade talks has boosted markets and base metals.

Staff reporter
 Fresnillo’s Saucito silver operation in Mexico

Fresnillo’s Saucito silver operation in Mexico

The S&P/TSX Composite Index and the three key US indices edged up to finish at new record closing highs.

The TSX had hit an all-time high of 17,048.47 intraday on Monday before closing at 17,032.86 then closed 0.017% higher yesterday at 17,036.

The S&P500 gained 0.22% to finish at 3,140.52 points.

Australasian and European markets were mixed yesterday.

Mexico-focused precious metals producer Fresnillo (LSE: FRES) was the standout performer on the London Stock Exchange's FTSE100, gaining 6.78% yesterday as it climbs off 52-week lows.

On the other side of the pond, Silvercorp Metals  (TSX: SVM) hit a 52-week high, rising 7% on no news since announcing mid-month exploration had expanded the mineralised zones at its GC silver-lead-zinc mine in China's Guangdong province.

Silver remains above US$17 an ounce on the spot market, while gold is about $6/oz higher than yesterday at $1,461/oz.

Base metals, bar tin, all settled in the black on the London Metal Exchange, with Marex Spectron's Dee Perera noting it was the first time this had occurred since November 1.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.