In case you missed it, here is this week’s resource big news roundup.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) remained mostly flat this week. The index did gain traction late in the day on Thursday following the announcement that the US Federal Reserve will cut interest rates for the third time this year. Stocks slid in the US yesterday as Chinese officials doubted whether a trade deal would be signed. According to Bloomberg, Chinese officials have reportedly suggested that they are unwilling to make concessions on some of the significant economic reforms the Trump administration has called for. Gains from yesterday spilled over to Friday as energy stocks pushed the TSX to a one-month high. Sentiment around global growth is also up on the back of upbeat US job numbers and robust manufacturing data out of China.
As for the S&P/TSX Venture Composite Index (INDEXTSI:JX), it slid on Monday and remained flat for the rest of the week. On Friday, 10 out of the 12 Toronto subgroups were up within the first hour. Energy led the charge with a 1.9 percent gain, followed by information technology up 1.4 percent and industrials up 0.9 percent. Gold and materials dragged the index down, losing 0.6 percent and 0.2 percent, respectively.
In case you missed it, here is this week’s resource big news roundup:
- Field Reconnaissance at Puma’s Portage Lake (Cu-Ni-Co) Lead to the Discovery of a Mineralized Breccia Grading 1.03 Percent Co and 0.63 g/t Au
- American Battery Metals Corporation Wins Coveted Greentown Labs/BASF Circularity Challenge for Battery Recycling
- Definitive Agreement Signed For Acquisition & Secured Off-take For VanadiumCorp’s Iron-T Vanadium Project
- A.I.S. Resources Arranges a Monthly Manganese Supply of 1,500 Tonnes and Sells Initial Shipment of 454 Wet Metric Tonnes Manganese
- Silver Spruce Announces MOU with China University of Mining and Technology for Joint Geological Research
- GoldSpot Signs 4-year Deal with MERC, Collaborating on a $104 Million MERC-led R&D Program