Resource News

European stocks traded low on Friday in anticipation of the US jobs report, but West African Minerals and Thor Mining still saw gains.

Today, the Alternative Investment Market (AIM) in London was down 5.48 points, at 763.08 points, with the market hitting a low of 761.86 points and a high of 768.74.

European stocks traded low today in anticipation of the US jobs report, according to Investing.com. London’s commodity markets traded low due to losses in the mining sector. Inflation in the Eurozone has slowed to 0.4 percent, and data shows the US has rebounded better than investors were expecting.

That performance is leading some to suspect that the US central bank will raise its interest rates. If interest rates go up, investors may change their portfolios to better align with investments that do well during times of higher interest, and that would likely impact the commodities market.

West African Minerals (LSE:WAFM), a company that mines iron ore in Cameroon, West Africa, gained GBP1.14, or 19.32 percent, to reach GBP7.01 per share, while Thor Mining (LSE:THR), a mineral and development company that mines for tungsten and molybdenum in Northern Australia, rose by GBP0.02, or 10.86 percent, to reach GBP0.12.

On the downside, Clontarf Energy (LSE:CLON), which drills for oil in Africa and South America, fell by GBP0.26, or 19.27 percent, to reach GBP1.11 per share. Kazakhstan-focused copper miner Frontier Mining (LSE:FML) also fell by GBP0.13, or 14.44 percent, finishing at GBP0.77 per share.

MARKETS

Markets
TSX18861.36-217.28
TSXV617.26-9.08
DOW31097.26+321.83
S&P 5003825.33+39.95
NASD11127.85+99.11
ASX6539.90-28.20

COMMODITIES

Commodities
Gold1809.91-0.13
Silver19.89+0.03
Copper3.61-0.10
Palladium1965.07+9.98
Platinum891.26+2.98
Oil108.46+2.70
Heating Oil3.96+0.13
Natural Gas5.620.00

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