U.S. stock market indexes opened higher on Monday. Futures for the Dow Jones Industrial Average rose more than 200 points to 22,012. On the other hand, the Standard & Poor’s 500 index futures gained 20 points to 2,482 and futures for the Nasdaq 100 index rose 57 points to 6,417. The dollar index was up by 0.3%.
Tahoe Resources Inc. (TAHO, Financial)Ă‚ shares were up more than 40% in morning trading after the Guatemalan Supreme Court reinstated the Escobal mining license of Tahoe's Guatemalan subsidiary, Minera San Rafael. This reverses a preliminary ruling issued by the same court in late August.
In other news, shares of Richmont Mines Inc. (RIC, Financial) rose after the company announced that it was acquired by Alamos Gold(AGI, Financial) for a total equity value of $770 million and enterprise value of $683 million. The shares will be exchanged at the rate of 1.385 Alamos shares for each Richmont share. The exchange ratio contains more than 20% premium from Richmont's last closing price.
Gainers
- XL Group Ltd. (XL, Financial).
- Everest Re Group Ltd. (RE, Financial).
- Digital Realty Trust Inc. (DLR, Financial)”‹.
- Assurant Inc. (AIZ, Financial).
- Albemarle Corp. (ALB, Financial).
- Navient Corp. (NAVI, Financial).
- American Airlines Group Inc. (AAL, Financial).
- KLA-Tencor Corp. (KLAC, Financial).
- Royal Caribbean Cruises Ltd. (RCL, Financial).
Losers
- Regeneron Pharmaceuticals Inc. (REGN).
- Equifax Inc. (EFX).
- Nordstrom Inc. (JWN).
- Seagate Technology PLC (STX).
- Martin Marietta Materials Inc. (MLM).
- Extra Space Storage Inc. (EXR).
- Public Storage (PSA).
- Vulcan Materials Co. ”‹(VMC).
- URI United Rentals Inc. (URI).”‹
Global markets
The main European stock markets traded higher. The FTSE 100, the French CAC 40, the German DAX and the IBEX 35 advanced more than 1%
In Asia, markets closed also in the green, Japan’s Nikkei Index, China’s Shanghai Composite, Hong Kong’s Hang Seng and India´s Sensex rose by 1%.
Disclosure: The author holds no positions in any stocks mentioned.
