Morning Market Breakdown, February 23: TSX Bounces Back

The S&P/TSX Composite Index (INDEXTSI:OSPTX) started off strong on Thursday (February 22), but the end of day brought a small drop of 15.84 points, and the index ended the afternoon at 15,508.17.

Friday (February 23) morning the index opened at 15,560.15, kicking off the day with a 51.98-point boost.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) had a small victory by end of day Thursday with a 1.12-point gain over Wednesday’s close, ending the day at 829.19. Friday morning it opened at 831.61, lending a minor boost to the start of the day.

Thursday was kind to the Dow Jones Industrial Average (INDEXDJX:.DJI) as it was able to stay in the positives for the majority of the day, eventually closing at 24,962.48, a 164.7-point gain from Wednesday’s close. Friday morning saw the market open at 25,050.51, an immediate 88.03-point boost.

The S&P 500 (INDEXSP:.INX) claimed a small victory on Thursday with a close of 2,703.96, 2.63 points higher than Wednesday’s close. Friday morning brought an open of 2,715.8 points.

Daily metals

Gold prices closed at US$1,332.70 an ounce on Thursday, but dropped to US$1329.50 by 10:00 a.m. EST Friday morning. In silver, Thursday closed at US$16.63 an ounce, but fell slightly to US$16.56 by 10:00 a.m. EST on Friday.

Copper finished strong on Thursday at $3.26 per pound, but fell to $3.22 by 10:00 a.m. EST Friday.

Major miner news

• Detour Gold (TSX:DGC): Detour Gold announced its 2017 year-end mineral reserves and resources, noting that they stand at 15.8 million ounces of gold. The company estimates that the remaining mineral reserve life of its Detour Lake mine is 22 years.

• Centerra Gold (TSX:CG): Centerra Gold has released its Q4 and full-year achievements from 2017, which include the company’s November acquisition of AuRico Metals.

• Great Panther Silver (TSX:GPR,NYSEAMERICAN:GPL): Great Panther Silver has put out its financial results for 2017, including a 3-percent increase in revenue to $63.7 million.

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Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.