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Markets reach fresh highs, gold M&A continues

Markets have continued to surge following news of the US-China phase one trade deal just days ago.
Markets reach fresh highs, gold M&A continues Markets reach fresh highs, gold M&A continues Markets reach fresh highs, gold M&A continues Markets reach fresh highs, gold M&A continues Markets reach fresh highs, gold M&A continues

Northern Star Resources to pick up Newmont’s half of the Super Pit in Kalgoorlie

Staff reporter

In the US, the S&P 500, Nasdaq and Dow Jones Industrial Average hit further record highs yesterday.

London's FTSE100 rose 2.25% and the pan-European STOXX 600 index reached a new closing high of 417.75.

Germany's DAX remains close to its record high, as does Australia's S&P/ASX200 and Canada's S&P/TSX Composite Index.

Key market futures are pointing to another day of gains.

Meanwhile M&A activity in the gold sector continues to heat up.

Northern Star Resources (ASX: NST) remains in a trading halt after announcing it will acquire Newmont's (NYSE: NEM) half of Kalgoorlie's Super Pit and associated assets for US$800 million.

It follows fellow ASX-listed Saracen Mineral Holdings acquiring Barrick Gold's half of the iconic mine for $750 million last month.  

In the Americas, Equinox Gold (TSX: EQX) and Leagold Mining (TSX: LMC) have announced a C$1.3 billion merger, with Equinox closing 0.25% higher and Leagold unchanged.
 
Meanwhile Centamin (TSX: CEE) closed down 1.8% in Toronto after agreeing to entertain the possibility of a merger with Endeavour Mining (TSX: EDV), which lost 4.7% yesterday.