Indexes and Commodities Keep Things Green

The S&P/TSX Composite Index (INDEXTSI:OSPTX) picked up 48.69 points by Thursday’s (May 10) close, ending the day at 15,959.5. Friday (May 11) morning saw the index continue forward with gains of 32.99 points to hit 15,992.49.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) made small steps forward to gain 0.64 points, wrapping Thursday up at 774.69. The index continued to inch ahead on Friday morning as it grabbed 2.42 points to hit 777.11.

Gains from Enbridge (TSX:ENB), whose shares grew 1.9 percent yesterday, helped boost the TSX ahead as the pipeline operator beat analyst expectations with its first-quarter profits. Yesterday’s biggest gainer on the TSX was Great Canadian Gaming Corp. (TSX:GC), which saw boosts of 26.7 percent after the company announced a 62 percent rise in its Q1 revenue on Wednesday.

The Dow Jones Industrial Average (INDEXDJX:.DJI) blossomed 196.99 points on Thursday, reaching 24,739.53 by close. It continued to push forward on Friday morning as it picked up 103.74 points to reach 24,843.27.

The S&P 500 (INDEXSP:.INX) grew 25.28 points on Thursday, closing the day at 2,723.07. The index gained 6.33 points on Friday morning to reach 2,728.4.

Apple (NASDAQ:AAPL) and Facebook (NASDAQ:FB) helped push Wall Street further on Thursday as the tech giants picked up 1.4 percent and 1.6 percent, respectively. Meanwhile, stocks of CenturyLink (NYSE:CTL) boosted 7.5 percent after a successful first-quarter report, helping push the S&P’s telecom sector 1.9 percent.

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

Daily metals

Gold ended Thursday on a high as it closed at US$1,322.3 per ounce. It continued ahead on Friday morning as it grew to US$1,323.9. Silver stayed strong on Thursday as it closed at US$16.76 per ounce. The precious metal made further progress on Friday morning as it reached US$16.85.

Copper rested easy with its gains by Thursday’s close as it capped the day at US$3.11 per pound. The commodity maintained its balance on Friday morning as it moved forward to US$3.12.

Major miner news

• Wheaton Precious Metals (TSX:WPM): The company announced its operational and financial results for Q1 2018. Highlights include a quarterly dividend of US$0.09 per common share, up 29 percent from the same period in 2017, and the production of 7.4 million ounces of silver and 79,700 ounces of gold.

• SSR Mining (TSX:SSRM): SSR announced its first-quarter results for 2018. This included highlights such as the production of 78,483 gold equivalent ounces and record quarterly throughput at its Seabee gold operation in Saskatchewan, Canada, of 1,036 tonnes per day on average.

• Wheaton Precious Metals (TSX:WPM): The company has closed its new precious metals purchase agreement with First Majestic Silver (TSX:FR) on its San Dimas mine in Mexico. First Majestic opted to acquire all issued and outstanding common shares of Primero Mining in January, who previously owned and operated the San Dimas mine.

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