First Quantum Minerals Ltd.
FQVLF22.6682.50% ( -0.582 )
Delay Closed: Nov 13, 16:00:00 (EDT)News
A Mega-Mine Pause Fails to Lift Copper As the AI Trade Cracks
benzinga_article·- Rio Tinto paused underground operations at its Oyu Tolgoi copper mine in Mongolia following seismic activity, joining other major supply disruptions at operations like Freeport-McMoRan's Grasberg and the shuttered Cobre Panama mine. - EY's survey ranks operational complexity as the mining industry's top risk for 2027, driven by aging mines, reserve depletion, and mounting financing and supply chain challenges. - Three-month copper on the London Metal Exchange fell to $14,356.50 as supply constraints were offset by investor doubts regarding near-term demand from the AI sector.Another Day of Positives for TSX
Baystreet·- The TSX gained 93.6 points to close at 36,265.09 amid broader market activity, while the Bank of Canada raised its overnight rate target by 25 basis points to 2.5%. - Wall Street indexes also rose as the Federal Reserve kept interest rates steady between 3.75% and 4% and investors awaited major tech earnings. - Canada and the United Arab Emirates signed a comprehensive trade deal to deepen economic ties and boost investment.Futures Dip as Oil Rises Ahead of BoC Word
Baystreet·- Canadian equity futures dipped on Wednesday as investors awaited central bank decisions and upcoming corporate earnings. - The Bank of Canada is expected to raise its benchmark interest rate by 25 basis points to combat energy-led inflation, while the U.S. Federal Reserve is widely predicted to keep rates steady between 3.75% and 4%. - Global markets experienced mixed movements as oil prices rose to $101.54 a barrel and major Asian indices climbed.TSX Stumbles Home on Resource Weakness
Baystreet·- The Toronto Stock Exchange fell 81.11 points to close at 35,154.76 on Thursday, weighed down primarily by losses in resource stocks. - Most subgroups on the TSX declined, while information technology, energy, and utilities posted modest gains. - Meanwhile, Wall Street stocks rose on the first trading day of October as Treasury yields pulled back from multi-decade highs.