Morning Market Breakdown, March 5: Canadian Markets Gain Momentum

- March 5th, 2018

While the American markets spent Monday morning struggling to get out of the red, the TSX and TSXV were busy making their way into the green.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) closed in the red on Friday (March 2) at 15,384.59, a 9.36-point drop, but it picked up speed on Monday (March 5) morning when it hit 15,406.11, a 21.52-point gain.

Meanwhile, the S&P/TSX Venture Composite Index (INDEXTSI:JX) fell into the red on Friday when it closed at 826.06, a 3.26-point loss. The index landed in the green on Monday morning when it gained 8.96 points, reaching a total of 835.02 points.

Ending a tough week was the Dow Jones Industrial Average (INDEXDJX:.DJI), which dropped 70.92 points to 24,538.06 on Friday. It continued to slip on Monday as it hit 24,452.20 by 10:00 a.m. EST.

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The S&P 500 (INDEXSP:.INX) picked up some gains on Friday when it finished in the green at 2,691.25, a 13.58-point boost. However, it took a small tumble on Monday morning as it fell to 2,681.97 points.

Note: All numbers shown above were accurate as of 10:00 a.m. EST.

Daily metals

Gold closed at US$1,324.50 an ounce on Friday, but had a small fall on Monday morning as it reached US$1,320.61 by 10:00 a.m. EST. Silver closed at US$16.52 an ounce on Friday, but also took a hit on Monday morning as it fell to US$16.40 by 10:00 a.m. EST.

Copper closed at US$3.12 per pound on Friday, but slipped to US$3.10 by 10:00 a.m. EST on Monday.

Major miner news

  • Goldcorp (TSX:G,NYSE:GG): The company announced on Monday that Acoustic Zoom was the winner of #DisruptMining 2018. The geophysics company won for its ultra-high-frequency 3D drill hole seismic imaging, which earned it the chance at a contract or investment of up to $1 million with Goldcorp.
  • Americas Silver (TSX:USA): Americas Silver has released its Q4 and annual financial results for 2017. Highlights include a year-end production total of 2.1 million silver ounces and 4.7 million silver equivalent ounces.
  • Atlantic Gold (TSXV:AGB): Atlantic Gold has officially declared commercial production out of its Moose River Consolidated gold mine in Nova Scotia. The company started the production process in late 2017, but began commercial production effective March 1, 2018.

Don’t forget to follow us @INN_Resource for real-time updates!

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

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