Base Metals

Company News

In case you missed it, here is this week’s resource investing big news roundup.

The economic fallout of the coronavirus continued to dominate headlines this week, with stocks fading amid fears over the spread of the virus including conferences and public events taking measures to reduce the risks. While the full economic fallout of the virus remains to be fully understood, a growing number of analysts are warning that a correction could be next. “A recession is imminent, and it’s OK,” said Hercules Investment CEO James McDonald on Yahoo Finance’s The First Trade. “A 30% correction sounds scary right, but the Dow, S&P 500 and the Nasdaq rallied to nearly 30% in just one year last year. If you look at a 35% to 45% trim from here, it sounds bad but it just takes us back first quarter 2016. Understand that the numbers are relative, it is a good time to anticipate a major pullback and then get back in the market.”

The TSX Composite Index dropped by 2.3 percent to open Friday’s session, opening the day at 16,171.50. All 12 TSX subgroups struggled to open Friday’s session, with information technology down 3.3 percent, healthcare down 3 percent and communications down 2.7 percent. In Toronto, the TSX Venture Exchange dropped 1 percent to hit 515.85 on Friday.

In case you missed it, here is this week’s big news roundup:

Precious

Base

Battery

To see our previous resource investing big news roundup, click here.

MARKETS

Markets
TSX18444.22+2.38
TSXV594.13+11.54
DOW28725.51-500.10
S&P 5003585.62-54.85
NASD10575.62-161.89
ASX6474.20-80.80

COMMODITIES

Commodities
Gold1660.60+1.00
Silver19.03+0.01
Copper3.39-0.03
Palladium2167.88+6.38
Platinum864.79+4.79
Oil79.74-1.49
Heating Oil3.23-0.07
Natural Gas6.83-0.05

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