While the major markets spent Monday getting back into the green, commodities were the one making major gains on Tuesday morning.
Monday (March 5) was a strong day for the S&P/TSX Composite Index (INDEXTSI:OSPTX) as it saw gains of 156.69 points, leading it to close at 15,541.28.
The index experienced some fluctuations on Tuesday (March 6) morning, but it eventually reached 15,541.27 points by 10:00 a.m. EST.
Monday was also a winning day for the S&P/TSX Venture Composite Index (INDEXTSI:JX), as it picked up 13.17 points to close at 839.19. The index continued through the green on Tuesday morning as it reached 849.05 points.
Finally gaining some traction was the Dow Jones Industrial Average (INDEXDJX:.DJI), which jumped 336.7 points into the green on Monday to close at 24,874.76. The Dow took a miniscule fall on Tuesday morning as it hit 24,869.73 points by 10:00 a.m. EST.
Also seeing green on Monday was the S&P 500 (INDEXSP:.INX) when it got a boost of 29.69 points to close at 2,720.94. It continued to pick up speed going into Tuesday morning as it reached 2,722.14.
Note: All numbers shown above were accurate as of 10:00 a.m. EST.
Though gold closed at US$1,320.35 an ounce on Monday, the commodity moved up on Tuesday as it jumped to US$1,332.26 by 10:00 a.m. EST. Silver had a similar experience as it closed at US$16.43 an ounce on Monday, but shot to US$16.71 by 10:00 a.m. EST.
Copper remained steady as it closed at US$3.12 per pound on Monday, but like gold and silver, was boosted to US$3.16 by 10:00 a.m. EST on Monday.
Major miner news
- Hecla Mining Company (NYSE:HL): Hecla Mining Company has received a C$40-million loan investment from Ressources Quebec, a wholly owned subsidiary of Investissement Quebec. The money will be put toward the development and expansion of the company’s Casa Berardi mine in the Abitibi-Témiscamingue region of Quebec.
- Goldcorp (TSX:G,NYSE:GG): Goldcorp announced that it will be rewarding shareholders with a quarterly dividend of $0.02 per share. Any shareholder on record as of March 15 will be eligible for the dividend payout taking place on March 23.
- Santacruz Silver (TSXV:SCZ): The company has released its Q4 and annual production results for 2017, along with an update on 2018 operations. One highlight includes the consolidation of the company’s Rosario operations and its Membrillo prospect, which is currently seeing a rise in mine production.
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Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.