NEW YORK, NY / ACCESSWIRE / December 7, 2018 / U.S. equities finished modestly lower on Thursday as trade concerns were reignited after the arrest of a Huawei senior executive. The Dow Jones Industrial Average fell 0.32 percent to close at 24,947.67, while the S&P 500 Index decreased 0.15 percent to close at 2,695.95. The Nasdaq Composite Index gained 0.42 percent to close at 7,188.26.
Head of Research at LCG, Jasper Lawler said, “The timing of the arrest is key here. Markets are already incredibly nervous over slowing economic growth thanks to the inverted U.S. yield curve. Relations between the U.S. and China were supposed to be on the mend after a productive G-20. However, the arrest has the potential to shatter very fragile U.S.-Sino relations which will weigh further on global trade and growth concerns.”
The Market Edge Initiates Coverage on:
Agnico Eagle Mines Ltd.
AngloGold Ashanti Ltd.
Agnico Eagle Mines’ stock jumped 4.52% Thursday, to close the day at $38.35. The stock recorded a trading volume of 2,562,390 shares, which was above its three months average volume of 1,704,120 shares. In the last year, Agnico Eagle Mines’ shares have traded in a range of 32.18 - 49.80. The share price has gained 19.17% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $35.80 is below its 200-day moving average of $39.08. Shares of the company are trading at a Price to Earnings ratio of 83.37. Shares of Agnico Eagle Mines have gained roughly 6.56 percent in the past month and are down 16.96 percent year-to-date.
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On Thursday, shares of AngloGold Ashanti recorded a trading volume of 4,524,604 shares, which was above the three months average volume of 3,144,088 shares. The stock ended the day 3.33% higher at $10.85. The share price has fallen 9.58% from its 52 week high with a 52 week trading range of 7.08 - 12.00. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $9.85 is above its 200-day moving average of $8.74. Shares of the company are trading at a Price to Earnings ratio of 252.33. Shares of AngloGold Ashanti have gained roughly 9.82 percent in the past month and are up 6.48 percent year-to-date.
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SOURCE: The Market Edge