In case you missed it, here is this week’s resource big news roundup.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) hit a new all-time high on Friday, reflecting positive movement on Wall Street as trade optimism regarding the ongoing talks between China and the United States carried the market. According to Reuters, White House economic advisor Larry Kudlow said on Thursday that the two major world powers were close to an agreement based on positive trade talks during the week. “We are definitely headed in the right direction with regard to trade,” said Keith Buchanan, portfolio manager at GlobAlt in Atlanta. “Although there was some skittishness … the equity market hasn’t shown much of a pull back and we are still making those highs.”
The S&P/TSX Venture Composite Index (INDEXTSI:JX) dropped 0.53 points to open Friday at 526.62, with all but three Toronto subgroups in positive territory. Most notably, energy jumped 1.1 percent while consumer staples moved forward 0.4 percent and information technology gained 0.1 percent. The Canadian cannabis sector took a significant hit on Thursday after major licensed producer Canopy Growth (NYSE:CGC,TSX:WEED) announced C$374.6 million in losses, causing the company’s stock to hit an intra-day low of $20.15 on the TSX. According to interim CEO Mark Zekulin, it is “increasingly unlikely,’ that the company hits its fourth-quarter revenue projections ending in March.
In case you missed it, here is this week’s resource big news roundup:
- American Manganese Inc. Reports 99.98 Percent Purity from Recycled Lithium-Ion Battery Material
- E3 Metals to Scale Up Testing with Large Lithium-Enriched Brine Sample
- ALX Uranium Corp. Samples up to 3.13 Percent Nickel at Falcon Nickel Project, Saskatchewan
- Azarga Sells Non-Core Kyzyl Ompul Project
- Golden Predator Announces Successful Environmentally Friendly Gold Recovery Leach Tests
- Silver Spruce Verifies High Grade Polymetallic Zinc-Copper-Silver at Melchett Lake