In case you missed it, here is this week’s resource big news roundup.
Stocks were on the rise Thursday only to come to a halt as US-China trade woes sparked caution in the hearts of investors. According to a Reuters article, a meeting between US President Donald Trump and Chinese President Xi Jinping to sign the long-awaited trade deal could be delayed until December as deal terms and venues are discussed. Those concerns were laid to rest the next day when China announced that it had agreed with the US to remove existing tariffs in stages as part of a working deal.
Building on the momentum from earlier in the week, the S&P/TSX Composite Index (INDEXTSI:OSPTX) extended its gains to its sixth straight session on Friday. A rally in the technology and healthcare sectors led the upswing, but a lower oil price, weak Canadian jobs and an update to housing permits data eventually slowed gains. According to Statistics Canada, the economy lost 1,800 jobs in October, surprising economists who were calling for an increase of 38,000 jobs last month.
As for the S&P/TSX Venture Composite Index (INDEXTSI:JX), it steadily fell for most of the week. On Friday, half of the 12 Toronto subgroups were up on the day. Leading the way for gains was information technology, which was up by 1.2 percent, followed by healthcare and industrials, gaining one percent and 0.5 percent, respectively. Gold and materials were dragging the index down, each losing 0.6 percent, followed by energy stocks which were lagging by 0.5 percent.
In case you missed it, here is this week’s resource big news roundup:
- Fireweed Drills 100 m of 7.94 Percent Zinc from Surface at Boundary including 6.4 m of 42.49 Percent Zinc Within 230 m of 4.14 Percent Zinc
- Deep-South Resources Achieves 90 Percent Cu Recovery in Column Bioleach Amenability Tests Performed on Haib Copper Mineralized Material from Namibia
- Surge Acquires Additional Claims Nearby the Recently Optioned Caledonia Project in British Columbia, Canada
- Primary Energy Metals Enters into Definitive Agreement to Acquire Colombian Licensed Producer
- Pancon Intersects 1.3 Percent Nickel, 0.47 Percent Copper and 5.6 Percent Sulphur over 4.2 Metres, Demonstrating Ni-Cu Sulphide Potential at the St. Laurent Project
- VanadiumCorp Forms Subsidiary and Acquires Facility for VRFB Production in Germany
- 21C Metals and Grid Metals Form Exploration Information Alliance to Optimize Exploration of Palladium Mineralization in East Bull Intrusion
- Northern Lights Completes Cash Payments for 100 Percent Acquisition of the Secret Pass Gold Project
- Golden Predator Intercepts 6.1 m of 9.33 g/t Gold at Brewery Creek’s Lucky Deposit
- Newrange Gold Sells Yarumalito Project in Colombia