In case you missed it, here is this week’s resource big news roundup.
On Wednesday, the S&P/TSX Composite Index (INDEXTSI:OSPTX) plunged as fears of a global recession rise on the backs of disappointing economic data in China, German economy contraction and in June, Europe’s factory production fell the most in three years. Adding to the angst, yields for two-year and 10-year bonds inverted for the first time since the Great Recession. On Friday, the index rose as central banks across the globe make plans for added stimulus, easing concerns of an economic slowdown. Technology stocks also did their best to offset the loss for the week.
As for the S&P/TSX Venture Composite Index (INDEXTSI:JX), it fell for most of the week but recovered 1.91 points to 570.69 on Friday. All but two of 12 Toronto subgroups gained ground, with health-care sprouting two percent, financials up 0.8 percent and energy up 0.7 percent. The two groups that were down are gold and materials.
In case you missed it, here is this week’s resource big news roundup:
- A.I.S. Resources Signs a Contract for 26,000 Tonnes Manganese Fines Per Year
- E3 Metals Awarded a Technology Development Project Under GreenCentre Canada’s RISE Program
- Wealth Receives Key Document from Chilean Environmental Agency Regarding Work at the Atacama Project
- Progressive Planet Receives Largest Order to Date for Rock Dust
- Giyani Announces Positive PEA Results for its K.Hill Manganese Project in Botswana with an After-Tax Net Present Value of C$379 Million (US$285 Million)
- Angkor Receives Approval for Cambodian Oil and Gas Concession
- Latin Metals and Patagonia Gold Agree on Terms for Acquisition of Mina Angela Project, Chubut Province, Argentina
- Red Pine Samples 33.6 g/t Gold Over 1.4 Metres at the Cooper Structure at its Wawa Gold Project