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Futures down, talk of BHP/Tesla talks

Key market futures were lower after US president Donald Trump put a stop to stimulus negotiations and a no-deal Brexit looks increasingly likely.
Futures down, talk of BHP/Tesla talks Futures down, talk of BHP/Tesla talks Futures down, talk of BHP/Tesla talks Futures down, talk of BHP/Tesla talks Futures down, talk of BHP/Tesla talks

Image: Unsplash/John Cameron

Staff reporter

Meanwhile Tesla is in talks with BHP over nickel supply, Bloomberg reported, as the electric car manufacturer seeks to shore up supply.

It follows news of similar talks with Vale after Tesla CEO Elon Musk last month outlined plans for new cells with a high nickel content. 

Elsewhere, Centerra Gold (TSX:CG) tumbled 15.3% despite saying its remote Kumtor mine was continuing uninterrupted following political unrest in the Kyrgyz Republic.

Kaz Minerals (LSE: KAZ) lost just 1.7% after telling Reuters it had suspended its Bozymchak copper and gold mine in the Central Asian country.

Gold equities were the big market risers in Australia yesterday, following news of Northern Star Resources and Saracen Mineral Holdings merging to create a global top 10 gold producer. 

Saracen (ASX: SAR) closed up 9.58% and Northern Star (ASX: NST) gained 10.64%.

Fellow gold producers Silver Lake Resources (ASX: SLR) and Perseus Mining (ASX: PRU) rose more than 6% and 5% respectively.

The gold price however has tumbled below US$1,877 an ounce on the spot market.

Copper was little changed on the London Metal Exchange yesterday and Marex Spectron's Anna Stablum pointed to thin trading with China remaining on holidays until Friday.