In case you missed it, here is this week’s resource big news roundup.
After a turbulent week, the S&P/TSX Composite index (INDEXTSI:OSPTX) opened lower as material shares weighed down the market on Friday, but gains in the energy sector offset the losses. Recent employment data in Canada also made an impact on Friday based as the country shed 24,200 jobs in July due to losses in the wholesale and retail trade. This came as a surprise to economists as they were predicting that 15,000 jobs were going to be added to the market. At the beginning of the week, the index experienced substantial losses on Monday and Tuesday due to global trade woes and losses in the energy sector. The index rose on Wednesday as the Canadian dollar regained ground after it briefly dipped below US$0.75. It also outperformed its US counterpoints as the price of gold surpassed US$1,500 for the first time in six years.
As for the S&P/TSX Venture Composite Index (INDEXTSI:JX), the index fell 0.23 points to 596.10 on Friday. Eight of the 12 subgroups stumbled this morning as consumer discretionary stocks lost 1.2 percent, materials were down one percent and healthcare stocks dropped 0.8 percent. Of the four gainers, energy was up by 0.7 percent, and the real estate and communications subgroups were up 0.1 percent each.
In case you missed it, here is this week’s resource big news roundup:
- Emerita and Aldesa Intersect 4.0 Meters Grading 9.02 Percent Zinc at Plaza Norte Joint Venture, Spain
- VVC Board of Directors Approves the Gloria Pilot Mine at its Northern Mexico Copper Property
- Standard Lithium Files Preliminary Economic Assessment and Updated Mineral Resource Technical Report for Its Southern Arkansas Lithium Brine Project
- VanadiumCorp Receives Mining Tax Credits
- Manganese X: Mountain Spring Oil and Gas Limited – Elcano Project
- Lions Bay Capital to Become Major Shareholder in Parkway Minerals and Davenport Resources
- NV Gold Assays up to 8.02 g/t Gold and 1,495 g/t Silver from Its Root Spring Gold-Silver Project in Nevada
- Searchlight Resources Options Flin Flon North Claims
- White Gold Corp. Extends High-Grade Mineralization at Golden Saddle 205m from Previous Mineralization and also within the Conceptual Pit Boundary including 3.59 g/t Gold over 68.0m and Identifies Multiple Continuous High-Grade Structures at Vertigo including 11.64 g/t Gold over 5.34m