CAPITAL MARKETS

Markets buoyed by manufacturing data

S&P 500 closes at fresh high

Staff reporter

This article is 5 years old. Images might not display.

The Caixin data, which gives an independent snapshot of China's manufacturing sector, rose from 52.8 in July to 53.1 in August, indicating the fastest expansion since January 2011 .

"The index has now risen for four months in a row, reflecting that the manufacturing sector continued to recover from the impact of the pandemic, and that the momentum of the recovery remained strong," Caixin Insight Group senior economist Dr Wang Zhe said.

In the US, the Institute for Supply Management's manufacturing PMI was up 1.8 percentage points to 56 in August, the fourth consecutive month of growth.

PMI readings above 50 indicate expansion.

The S&P 500 reached yet another record closing high, up 0.75% to 3,526.65.

The spot gold price rose above US$1,990 an ounce earlier but was back at $1,964/oz at the time of writing.

There were mixed moves among mining equities in Toronto.

South America-focused Orosur Mining (TSX: OMI) gained 35.7% and Brazil-focused Horizonte Minerals (TSX: HZM) gained 20.8%, both on no news.

Meanwhile base metals producer Nexa Resources (TSX: NEXA) lost 11.9% and advanced gold junior Midas Gold (TSX: MAX) fell 7.4%, also on no announcements.

Finally, mining majors were well-supported following a bank holiday in London, with Fresnillo up 4.55%, Glencore up 2.16% and both Anglo American and Antofagasta gaining about 1.3%.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

editions

Investor Sentiment Insights 2026

Discover what investors have planned for mining in 2026 in our industry-leading survey

editions

World Risk Insights 2025 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 120 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Index 2025: Benchmarking the Future of Sustainable Mining

The ESG Index provides an in-depth evaluation of the ESG performance of 60+ of the world’s largest mining companies. It assesses companies across 10 weighted indicators within 6 essential ESG pillars.

editions

Leadership Insights 2025

Leadership Insights reveals key trends in priority mining issues through interviews with 15+ top mining company executives and an industrywide survey.