CAPITAL MARKETS

S&P 500 sets fresh record high

The S&P 500 has set a new record closing high and China reported strong trade data but market futures are mixed.

Staff reporter
 Activity at the New York Stock Exchange

Activity at the New York Stock Exchange

Led by the tech sector, the benchmark index in New York closed up 0.33% yesterday to 4,141.59.

The gold price has gained from this point yesterday, to US$1,745 an ounce on the spot market.

Talk of rising US inflation could further improve sentiment for gold as a hedge against inflation.

Nevada-focused i-80 Gold (TSX: IAU), a spin-out following Equinox Gold's acquisition of Premier Gold Mines, lost 7.7% on its debut yesterday to close at C$2.40.

Junior NSGold Corp (TSXV: NSX) meanwhile shot up more than 79% in Toronto on no news since last year's resource update for its Mooseland gold property in Nova Scotia.

Greatland Gold (AIM: GGP), which has the Havieron gold development project in Western Australia's Paterson Province with Newcrest Mining, was one of the market risers in London.

The company closed up 18.99% on no news, likely buoyed by Rio Tinto's announcement this week it would bolster the 2021 exploration budget at its nearby Citadel joint venture  from A$13.8 million to $24.5 million. 

Rio Tinto closed almost 1% higher in London.

Copper major Freeport-McMoRan gained 0.18% in New York and BHP was up slightly in morning Australian trade.

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