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Markets upbeat as US polls close

Market futures were broadly positive as polling booths began to close in the US presidential election, although it may take time to determine the winner.
Markets upbeat as US polls close Markets upbeat as US polls close Markets upbeat as US polls close Markets upbeat as US polls close Markets upbeat as US polls close

Rio Tinto yesterday celebrated the final day of mining at its Argyle diamond mine in Western Australia, having exhausted its economic reserves

Staff reporter

"Given results there could take a few days, markets might be positioning for some uncertainty here," IG Australia-based market analyst Kyle Rodda said this morning.

Key markets had closed higher yesterday, as did base metals on the London Metal Exchange following upbeat manufacturing data from both China and the US.

The gold price was a little lower but remained above US$1,900 an ounce on the spot market at the time of writing.

Copper producer Sandfire Resources (ASX: SFR) was up 2.6% in morning trade, recovering some of the ground lost yesterday on media reports China might prohibit imports of copper ore and concentrates from Australia

Rio Tinto, which yesterday finished mining at its Argyle diamond mine in Western Australia, closed up 1.6% in London.

Newmont gained 3% in New York.

Finally, BHP was down about 1.7% in morning Australian trade.