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Morning Market Breakdown, February 26: Green Across the Board
Feb. 26, 2018 11:15AM PST
Resource Investing News 
Hot on the heels of a successful Friday, Monday morning showed signs of prosperity across several different markets in both Canada and the US.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) saw nothing but gains on Friday (February 23), ending the afternoon at 15,638.45, a 130.28-point jump.
The streak continued Monday (February 26), with the index starting the morning at 15,701.13, a rise of 62.68 points.
Friday was less kind to the S&P/TSX Venture Composite Index (INDEXTSI:JX), which dipped 3.1 points and ended the day at 826.09. Monday morning brought a head start, however, with the index opening at 833.5.
Continuing a strong week was the Dow Jones Industrial Average (INDEXDJX:.DJI), which had a massive 347.51-point boost on Friday to cap the week at 25,309.99 points. Monday morning was no exception for Dow, as the day kicked off at 25,403.35, a 93.36-point boost from Friday’s close.
The S&P 500 (INDEXSP:.INX) saw a rise of 43.34 points by the end of Friday, ending the week at 2,747.3. Monday morning started off in the green with an open of 2,757.37, a small gain of 10.07 points.
Daily metals
Gold prices closed at US$1,330.70 an ounce on Friday, $2 lower than Thursday’s close. Monday morning saw a boost as the price jumped to US$1,334.29 as of 10:00 a.m. EST. Silver sat at US$16.63 an ounce as of 10:00 a.m. EST Monday, a small rise from Friday’s close of US$16.61.
Copper was stagnant on Monday morning, maintaining its $3.22 per pound price from Friday’s close.
Major miner news
- Newcrest Mining (ASX:NCM): The Australia-based company announced Monday that it has entered a “strategic partnership” with Lundin Gold (TSX:LUG) under which it will make a $250-million investment to gain a 27.1-percent stake in the company. This comes as part of a US$400-million equity raising to fund the development of Lundin Gold’s Fruta del Norte gold mine in Ecuador.
- Coeur Mining (NYSE:CDE): Coeur Mining released a redeveloped mine plan and preliminary economic assessment (PEA) for its Rochester silver-gold mine in Nevada. The PEA improves upon a 2017 technical report, with highlights including a 122-percent increase in pre-tax life-of-mine cashflow for a new total of $955 million.
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Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.