Category: Canada

Global stock markets surge as U.S. and China reach 90-day trade truce

Stocks are surging on Wall Street after China and the United States announced a 90-day truce in their trade war.

They agreed to take down most of their tariffs that economists warned could start a recession and create shortages on U.S. store shelves.

The S&P 500 was 2.7 per cent higher in early trading Monday. The Dow Jones Industrial Average jumped 981 points, or 2.4 per cent, and the Nasdaq composite was 3.7 per cent higher.

Crude oil prices jumped because a global economy less weakened by tariffs would be hungrier for fuel. The value of the dollar climbed against other currencies and Treasury yields rose.

The Toronto Stock Exchange also started the Monday trading day on positive ground gaining almost one per cent at the open, while the loonie dipped about a quarter of a cent compared to the stronger U.S. dollar.

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A joint statement on Monday said that for a 90-day period, the U.S. will cut tariffs on Chinese goods to 30 per cent from as high as 145 per cent. China said its tariffs on U.S. goods will fall to 10 per cent from 125 per cent.

The agreement to allow time for more talks followed weekend negotiations in Geneva, Switzerland, that the U.S. side said had made “ substantial progress.”


Click to play video: 'India and Pakistan ceasefire aided by ‘very proactive’ negotiators including U.S.'


India and Pakistan ceasefire aided by ‘very proactive’ negotiators including U.S.


Wall Street cheered the development with futures for the S&P 500 jumping 3.1 per cent, while futures for the Dow Jones Industrial Average rose 2.5 per cent. Futures for the Nasdaq, home to the biggest U.S. technology companies, soared 3.9 per cent.

American microchip companies, which source much of the material needed for their semiconductors from China, were among the biggest gainers early Monday. ON Semiconductor, Micron and Broadcom all soared between six per cent and eight per cent. Nvidia rose 4.8 per cent.

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Travel companies also enjoyed big gains, with American, Delta and United Airlines all up around seven per cent. Major cruise lines rose similarly.

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Retailers, who get much of their inventory from China, also benefited from the announced tariff pause. Amazon was up 7.8 per cent and Best Buy jumped 10.4 per cent early.

Pharmaceutical companies were among the few losers Monday after Trump said he planned to signed an executive order Monday that if implemented, could bring down the costs of some medications. The order Trump is promising will direct the Department of Health and Human Services to tie what Medicare pays for medications administered in a doctor’s office to the lowest price paid by other countries.


Click to play video: 'U.S., China begin negotiation on easing trade war'


U.S., China begin negotiation on easing trade war


A big pharma trade group criticized the plan and Johnson & Johnson, Merck and Pfizer all tumbled around three per cent.

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Can the trade truce last?

The full impact on the complicated tariffs and other trade penalties enacted by Washington and Beijing remains unclear.

Much depends on whether they will find ways to bridge long-standing differences during the 90-day suspension.

But as trade envoys from the world’s two biggest economies blinked, finding ways to pull back from potentially massive disruptions to world trade and their own markets, investors rejoiced.

Oil prices also rallied, with U.S. benchmark crude oil gaining $2.48, more than four per cent to $63.50 per barrel. Brent crude, the international standard, added $2.39 to $66.30 per barrel.

The U.S. dollar surged against the Japanese yen, trading at 148.06 Japanese yen, up from 146.17 yen. The euro fell to $1.1103 from $1.1209.

In other stock trading, Tokyo’s market closed before the joint statement was issued, gaining less than 0.1 per cent to 37,644.26. But Hong Kong’s, which closes later, jumped three per cent to 23,558.11.

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In Europe at midday, Germany’s DAX gained 0.3 per cent and the CAC 40 in Paris added 1.3 per cent. Britain’s FTSE 100 was 0.5 per cent higher.


Click to play video: 'Canada’s jobless rate ticks up as Trump’s tariffs cause cracks in labour market'


Canada’s jobless rate ticks up as Trump’s tariffs cause cracks in labour market


What else is fuelling the rally?

Investors were also watching for developments in other flashpoints including clashes between India and Pakistan, the war in Ukraine and conflict in the Middle East.

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The Sensex in Mumbai shot up 3.2 per cent after India and Pakistan agreed to a truce after talks to defuse their most serious military confrontation in decades. The two armies have exchanged gunfire, artillery strikes, missiles and drones that killed dozens of people.

Pakistan’s KSE 100 surged more than nine per cent and trading was halted for one hour following a spike driven by the ceasefire and an International Monetary Fund decision Friday to disburse about $1 billion of a bailout package for its battered economy.

The Shanghai Composite Index picked up 0.8 per cent to 3,369.24.

Chinese EV battery maker CATL, or Contemporary Amperex Technology Co., Ltd., said in a prospectus filed with the Hong Kong Stock Exchange that it plans to raise nearly $4 billion in a share listing.

Elsewhere in Asia, the Kospi in Seoul gained 1.2 per cent to 2,607.33, Australia’s S&P/ASX 200 climbed less than 0.1 per cent to 8,233.50, and Taiwan’s Taiex gained one per cent.

– With copy from Global News’ Ari Rabinovitch


&copy 2025 The Canadian Press

TSX gains on US-China tariff agreement

Canada’s main stock index rose on Monday as the United States and China reached a deal to reduce tariffs, boosting investor optimism and easing fears of an all-out trade war disrupting global markets.

The Toronto Stock Exchange’s S&P/TSX composite index rose 0.7% at 25,531.01 points, tracking gains in U.S. peers. The index hit over a three-month high earlier in the session.

The two biggest economies announced on Monday that the U.S. will cut the extra tariffs it imposed on Chinese imports in April to 30% from 145%, while Chinese duties on U.S. imports will reduce to 10% from 125%. The new measures will be effective for 90 days.

“Canadian markets can benefit from the big easing in trade tensions (as) it shows that the tariff war may be able to get resolved more quickly than people had previously thought”, said Colin Cieszynski, chief market strategist at SIA Wealth Management.

The U.S.-Sino deal comes days after a U.S.-UK limited trade agreement, easing fears that U.S. President Donald Trump’s reciprocal tariffs announced on April 2 would roil global trade and spark a worldwide recession.

Back home, Canadian Prime Minister Mark Carney’s new cabinet will be sworn in on Tuesday.

On TSX, energy stocks gained 3.1%, tracking a jump in oil prices, while information and technology stocks advanced 4.1%.

On the flip side, mining stocks fell nearly 4% after safe-haven gold fell more than 2%.

Pan American Silver fell 14.1% after the miner plans to acquire MAG Silver Corp in a transaction that values the silver mining company at about $2.1 billion. Conversely, MAG Silver rose 7.2%.

Hudbay Minerals jumped 8.8% after the miner beat first-quarter profit and revenue estimates. Shares also rose on the back of higher copper prices.

Pan American Silver buying MAG Silver for US$2.1B in stock and cash

VANCOUVER — Pan American Silver Corp. has signed a deal to acquire MAG Silver Corp. in a stock-and-cash offer valued at US$2.1 billion.

MAG holds a 44 per cent joint venture interest in the Juanicipio mine, operated by Fresnillo plc, which holds the remaining stake.

MAG chief executive George Paspalas says the deal represents a compelling opportunity for shareholders, providing an immediate premium and meaningful exposure to Pan American’s world-class assets and growth strategy.

Under the terms of the deal, MAG shareholders will be able to choose to receive payment in the form of US$20.54 in cash per share, 0.755 common shares of Pan American per share, or a combination of the two, subject to proration with the total amount of cash available under the offer capped at US$500 million.

MAG Silver shares were up C$1.93 or eight per cent at C$25.51 in trading on the Toronto Stock Exchange on Monday morning.

Following completion of the deal, existing MAG shareholders will own a roughly 14 per cent stake in Pan American on a fully diluted basis.

This report by The Canadian Press was first published May 12, 2025.

Companies in this story: (TSX:PAAS, TSX:MAG)

The Canadian Press

Pieridae Energy Changes Name to Cavvy Energy


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Nuvau Minerals Completes High Resolution Drone MAG Survey

(MENAFN– Newsfile Corp)
Toronto, Ontario–(Newsfile Corp. – May 12, 2025) – Nuvau Minerals Inc. (TSXV: NMC) has just completed a key step on its journey to unlocking the gold potential of the Matagami Property in the Abitibi region of Québec. It has flown a detailed high resolution drone magnetic (“MAG”) survey over an area north of where a 2023 sonic drilling program discovered a significant gold grain anomaly . Hole PD-23-030s had more than 2,000 gold grains per 10 kg of material, supported by a near-contiguous sample with 295 gold grains.

The MAG survey included areas where two other gold anomalies have been previously identified in Québec’s SIGEOM/EXAMINE database (see Figure 1):

  • Daniel-1, which includes a gold value of 6.18 grams per tonne over 1 metre associated with massive sulphide from a diamond drill hole.

  • McIvor-SE, which is sourced from a grab sample in a volcanic shear zone, grading at 37.71 grams per tonne.

“These showings add to our thesis that the Matagami camp has the potential to produce gold,” said Peter Van Alphen, Nuvau’s President and CEO. “The data from this MAG survey will help us develop our eventual diamond drill program related to the gold grain anomaly we recently identified, which is scheduled to start in the second half of 2025. We have just begun to uncover the gold potential of this 1,300 square kilometre land package, where exploration to date has been limited to base metals even though it is in a region known for hosting gold mineralization, including the Detour Gold and Casa Berardi gold mines.”

The detailed high resolution drone MAG survey was flown over the area surrounding PD-23-030s, extending north and northeast of the anomaly (see Figure 1). The western limit of the survey is approximately 3 kilometres away from the Caber Complex and the Renaissance discovery, the undeveloped massive sulfide cluster with near-term production potential. This high resolution MAG survey will provide valuable geophysical data to support Nuvau’s continuing base metal exploration of the underexplored northern part of the property.

The MAG survey was flown along 25-metre spaced lines oriented at N020° for total line kilometers of 5,066 kilometres. The data was captured at low altitude, approximately 20 metres above ground and will provide a global image of the extended area. Overall, a total area of 128 square kilometres was covered.

The quality and resolution of the survey will enable interpretation of the contrasting geological units as well as structural interpretation, which is key to both the future exploration of region for both gold and base metals. Although this area was previously covered by a mosaic of lower resolution surveys, the data was of much lower definition than what current technology can deliver.



Figure 1 – High resolution Drone Mag survey outline on Matagami Camp property with detail MAG data (Source SIGEOM) and gold showing (Source EXAMINE, GM 60332 and GM 44892).

To view an enhanced version of this graphic, please visit:



Figure 2 – Matagami Property Location relative to the gold producers and explorers in the region. Results from adjacent property(ies) are not necessarily indicative of the mineralization on Nuvau’s property.

To view an enhanced version of this graphic, please visit:

Qualified Person and Quality Assurance
Gilles Roy, P. Geo. (Qc), Director of Exploration of Nuvau and a Qualified Person as defined by National Instrument 43-101, has verified the scientific and technical data disclosed in this news release, and otherwise reviewed and approved the scientific and technical information in this news release.

For further information, please contact:
Peter van Alphen
President and CEO
Telephone: 416-525-6063
Email: …

About Nuvau Minerals Inc.
Nuvau is a Canadian mining company focused on the Abitibi Region of mine-friendly Québec. Nuvau’s principal asset is the Matagami Property, which is host to existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.

Cautionary Statements
Readers are cautioned that geophysical surveys are not definitive; the results contained in this news release are still at an early stage of interpretation, with no guarantee of a mineral discovery.

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends” “expects” and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning drill results relating to the Matagami Property, the results of the PEA, the potential of the Matagami Property, the timing and commencement of any production, the restart of the Bracemac-McLeod Mine, the completion of the earn-in of the Matagami Property and the timing and completion of any technical studies, feasibility studies or economic analyses.

Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Matagami Property. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

To view the source version of this press release, please visit

SOURCE: Nuvau Minerals Inc.

MENAFN12052025004218003983ID1109536864

Hudbay Delivers Strong First Quarter 2025 Results Driven by Gold Production and Record Cost Performance

TORONTO, May 12, 2025 (GLOBE NEWSWIRE) — Hudbay Minerals Inc. (“Hudbay” or the “Company”) (TSX, NYSE: HBM) today released its first quarter 2025 financial results. All amounts are in U.S. dollars, unless otherwise noted.

“Our strong results in the first quarter reflect stable copper production and complementary gold production from our enhanced operating platform, which continued to deliver significant free cash flows and industry-leading margins,” said Peter Kukielski, President and Chief Executive Officer. “We are well-positioned to deliver our full year 2025 consolidated production and cost guidance with the operations delivering in line copper production, better-than-expected gold production and effective cost control in the first quarter. We continue to benefit from steady mill throughput in Peru, higher grades and mill throughput in Manitoba and ongoing optimization efforts in British Columbia. This resulted in record adjusted EBITDA and record low cash cost performance in the quarter. We made significant progress in advancing our growth strategy as we consolidated ownership at Copper Mountain to increase our exposure to a high-quality asset in a tier-1 jurisdiction. We are also now fully permitted at Copper World to increase our long-term copper production by more than 50%. We will continue to reinvest in our attractive portfolio of high-return brownfield and greenfield growth opportunities to further enhance our copper and gold exposure and unlock significant value for all our stakeholders.”

ARTICLE CONTINUES BELOW

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ISC Releases Investor Presentation Highlighting A Proven Model for Value Creation


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Barrick debuts single-letter ticker ‘B’ on NYSE

Dual-listed Barrick Mining is officially trading under the single-letter ticker symbol ‘B’ on the New York Stock Exchange.

To mark the milestone, Barrick president and CEO Mark Bristow rang the opening bell at the NYSE on Friday.

“Barrick’s vision is to be the world’s most valued gold and copper exploration, development and mining company,” said Bristow. 

“Along with our world-class portfolio of six Tier 1 gold mines, we are building a substantial copper business which will be a meaningful contributor to organically growing our production volumes in the coming years and beyond.”

Bristow said the new ticker better reflects Barrick’s evolving identity and strategy, as it seeks to expand its copper exposure alongside its core gold operations.

“Our new stock symbol ‘B’ better reflects Barrick’s current business and our mission to achieve sustainable and profitable gold and copper growth,” he said. “Together, gold and copper give Barrick the stability of a precious metal and the growth potential of a strategic one – anchoring our portfolio in resilience and aligning us with rising global electrification and infrastructure demand.”

Bristow pointed to key projects driving the miner’s gold and copper growth strategy, including the expansion of Pueblo Viejo in the Dominican Republic, the Fourmile project in Nevada, and the copper/gold Reko Diq project in Pakistan.

“Gold is core to our business and we continue to explore for and develop new gold mines,” he said.

Barrick’s shares will continue to trade on the TSX under the symbol ‘ABX’. The new CUSIP number for the NYSE-listed common shares is 06849F108.

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