The Dow Jones industrial average posted a modest gain of 35.48 points for the week ended Nov. 9, closing at 10,617.32. Miners were mixed with gold and copper holding steady and silver sliding.
American Stock Exchange-listed Apex Silver Mines dropped a buck to US$11.94 after silver slipped to US$5.08 per oz. on the London fix. The company recently raised US$97 million.
Sunshine Mining & Refining lost 19 cents at US$1.56 on the New York Stock Exchange, while Peruvian silver miner Buenaventura slipped 88 cents to US$15.62.
Gold miner Anglogold gained $1.38 at US$28.69 and Homestake Mining picked up 37 cents at US$8.62. Ashanti Goldfields, which posted third-quarter earnings of US$8 million, lost 75 cents at US$3.81 as it consolidated its hedge position.
Copper-giant Phelps Dodge slid $1.63 to US$55.25 as the red metal held at US80 cents per lb. on the Comex division of the New York Mercantile Exchange, despite high warehouse levels. Asarco rose 12 cents to US$29.62 as it finalized its merger with Grupo Mexico. Southern Peru Copper was up 44 cents at US$16.38. Broken Hill Proprietary added 43 cents to close at US$20.62.
Class A and B shares of Freeport McMoRan Copper & Gold advanced 63 cents and 6 cents, respectively, to close at US$14.88 and US$17.06. Rio Tinto dipped $1.50 to close at US$67.
Stillwater Mining gained $1.19 at US$21.50, while Nasdaq-listed De Beers Consolidated Mines lost $1.50 to finish the week at US$26.19.
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