Currently viewing Global edition

Futures down, Fortune rising

Market futures are down following another tech-led slump on Wall Street, fresh Brexit concerns, a vaccine hiccup and increased US-China tensions.
Futures down, Fortune rising Futures down, Fortune rising Futures down, Fortune rising Futures down, Fortune rising Futures down, Fortune rising

Earlier test mining at Fortune Minerals’ NICO project in Canada’s Northwest Territories

Staff reporter

Tesla closed down 21% in New York as investors reacted to news, which had been released just before the US long weekend, that the company had not been included in the S&P 500.

Iron ore was the bright spot among commodities, back up to US$130 per tonne for 62% Australian iron ore fines, according to MySteel.

Gold has dipped further and was headed towards $1,929 an ounce on the spot market at the time of writing, more than $100/oz below last month's record high.

In Toronto, Fortune Minerals (TSX: FT) rose 20%.

It had last week started a geophysical programme at its NICO gold-cobalt-bismuth-copper deposit in Canada's Northwest Territories.

Glencore-backed PolyMet Mining eased 12.8% from Friday's spike, which had followed a court finding there were no procedural irregularities in the issuing of the water permit for its proposed NorthMet mine in Minnesota.

Among the majors, Newmont was up 0.64% in New York, Rio Tinto rose 0.42% in London and BHP was down 1.8% in morning Australian trade.