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Markets look up as quarter ends

Most futures are looking up for the final day in what has been a volatile first quarter, which has seen global equities markets enter bear territory.
Markets look up as quarter ends Markets look up as quarter ends Markets look up as quarter ends Markets look up as quarter ends Markets look up as quarter ends

The Barrick Gold-operated Nevada Gold Mines complex in the US

Staff reporter

It follows a positive day on markets yesterday as more economic stimulus measures were announced around the globe.

The S&P/ASX 200 gained 7% in what has been described as its best day in 40 years, the S&P 500 closed up 3.35% and the FTSE 100 ended almost 1% higher.

Optimism has also been fuelled by talk of possible COVID-19 vaccines and a slowdown in the number of new cases.

However the global tally is nearing 700,000 people and the number of deaths has risen above 33,000, according to the World Health Organisation yesterday.

The oil price has slid more than 6% to just above US$20 a barrel, sitting at $20.09 for WTI, as Saudi Arabia appears set to boost output.

Gold is down slightly to $1,617 an ounce on the spot market amid news Russia's central bank has stopped gold purchases.

Metals and mining stocks were up collectively 2.7% in Toronto, where Barrick Gold (TSX: ABX) rose about 1.5%.

On the TSX Venture Exchange, MAS Gold (TSXV: MAS) doubled to C8c yesterday, a week after taking "a large step" towards 1 million ounces at its La Ronge project by announcing a maiden resource for the North Lake deposit.