TSX Continues Rise, Dow Jones Dips and Gold Stocks Up
Wednesday was another day in positive territory for the Toronto Stock Exchange, as resource stocks and gold stocks were up. Gold also was up for the day, as the US Dollar continued to remain soft against the Euro. The Dow Jones was flat for most of the day, closing down 74 points.
The S&P/TSX Index was up 350 points to finish off the day at 9,502, while the DJIA was down 74 points to close of the day at 8,991. The Nasdaq Composite was up 7.74 points to finish up at 1,657. Overall, the market was reacting to news that the US Federal Reserve announced another cut to the interest rate by 50 basis points to 1%, in a move to try and keep the US economy from falling to a deep recession.
Gold was up on news of the rate cute, as the US Dollar fell against many key global currencies. Gold was up $11.50 to finish off the day at $755.30 an ounce. The strength in gold was felt by the resource sector on the TSX and NYSE, as key gold stocks got a bump on Wednesday.
| Company | Ticker | Close | $ Change | % Change |
|---|---|---|---|---|
| Barrick Gold | ABX | $22.74 | +$2.36 | +11.6% |
| Agnico Eagle | AEM | $27.06 | +$2.58 | +10.5% |
| Anglogold Ashanti | AU | $17.86 | +$2.82 | +18.8% |
| Yamana Gold | AUY | $4.25 | +$0.66 | +16.1% |
| Eldorado Gold | EGO | $4.42 | +$1.04 | +30.8% |
| European Goldfields | EGU | $1.75 | +$0.39 | +28.7% |
| Freeport McMoran | FCX | $28.24 | +$1.50 | +5.6% |
| Goldcorp | GG | $18.98 | +$2.45 | +14.8% |
| Kinross Gold | KGC | $10.36 | +$1.87 | +22% |
| Randgold | GOLD | $31.31 | +$5.05 | +19.2% |
| Newmont Mining | NEM | $25.90 | -$0.57 | -2.2% |
| Gold Fields | GFI | $6.52 | +$0.67 | +11.5 |
This information is provided on an “as-is” basis with no warranties of any kind. Always conduct your own due diligence before making any investment decisions.
This article is licensed under a Creative Commons Attribution-No Derivative Works 3.0 Unported License. You are free to to copy, distribute and transmit this article as long as you attribute it prominently to MiningStockReport.com and provide a link back to this page.
Latest News
The Next President of the United States is Democrat Barack Obama
Big Jumps for the Dow and TSX as Voters Line Up in US
Markets Flat on Eve of US Presidential Elections
TSX Continues Rise, Dow Jones Dips and Gold Stocks Up
Junior Mining Stocks Feel Squeeze of Credit Crisis
Big Rally on the Dow Jones and TSX, Oil and Gold Stocks Up
TSX Plunges Over 700 Points, Asia and Europe Suffer, Gold Down
Gold Stocks Up while the TSX and Dow Jones Slump