- Write by:
-
Friday, December 28, 2018 - 12:05:43 AM
-
968 Visit
-
Print
Mining News Pro - All three major US equity indexes gained at least 4% on Wednesday, with the S&P 500 and Dow Jones closing just short of a 5% surge. It’s the first time that has happened since 2011, according to Bloomberg.
According to Mining News Pro - Major mining companies were caught up in the market frenzy on Wednesday with lithium producers and potash miners enjoying some of the heaviest buying.
Among fertilizer producers, Israel Chemical led the charge with a 7.3% vault in the value of its shares trading in New York. North American potash giant Nutrien gained 5.1%, Mosaic surged 6% and Germany`s K+S was also up on the day.
Lithium producer Livent Corp, recently spun out of chemical company FMC, was the best in its segment trading 6.2% higher, followed by Chile`s SQM up 5.7% and US-based Albemarle with more modest gains of 4%.
Top listed copper producer Freeport-McMoRan was the best performer among the big caps, jumping 6.3% in New York. The sector`s diversified heavyweights led by BHP with a 4.5% advance, all made strong gains on the day.
Canada`s largest mining firm, Teck Resources, traded 5.5% higher while fellow Vancouver-based firm Ivanhoe Mines bounced 8.9% in value on Wednesday. Cameco, the world`s largest uranium mining company, traded 5.3% higher.
With a pullback in the gold price from a six month high hit yesterday, investors in gold mining companies preferred to take profits with Barrick Gold trading flat and Royal Gold, Goldcorp and Franco Nevada losing more than 1% on the day.
Wednesday was the first time ever, according to data compiled by Bloomberg that stretches back to 1990, in which more than 500 stocks in the S&P 500 finished positive (there are actually 505 stocks in the S&P 500).
The only counter preventing a perfect performance for the index was number two gold producer Newmont Mining, the only stock in the S&P 500 to end Wednesday in the red.
Short Link:
https://www.miningnews.ir/En/News/320161
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
London-based Savannah Resources will if necessary ask Portugal’s government to authorize compulsory land acquisitions ...
Nutrien, the world’s biggest fertilizer producer, beat first-quarter profit estimates on Wednesday, on strong demand for ...
India is considering offering incentives to encourage private companies to set up lithium processing facilities, as New ...
London-based Savannah Resources will if necessary ask Portugal’s government to authorize compulsory land acquisitions ...
Nutrien, the world’s biggest fertilizer producer, beat first-quarter profit estimates on Wednesday, on strong demand for ...
Australia will spend A$566 million ($373 million) over the coming decade to map out resource deposits with a focus on ...
Equinor on Wednesday said it has entered an agreement with Standard Lithium to acquire a 45% stake in lithium projects ...
China issued draft rules on Wednesday to regulate its lithium battery market, after rapid expansion in the sector hit ...
No comments have been posted yet ...