Major U.S. indexes rally

Southern markets quickly regained their composure after falling back somewhat at the start of the new month. The Dow Jones Industrial Average surged ahead 294.56 points over the report period to finish at 8,602.61, while the S&P 500 jumped 31.56 points to 909.58.

Overseas gold producers jumped with their product, but homegrown titan Newmont Mining, the world’s largest producer of the yellow metal, tumbled US61 to $28.46. Harmony Gold led the American Depository Receipts, rising US$1.49 to $16.09, followed by Gold Fields, which climbed US81 to US$13.20.

Coeur D’Alene Mines slipped US30 to US$1.80 despite silver’s appreciation in London. On Sept. 3, the Securities and Exchange Commission recognized the conversion rights of US$21.5 million worth of senior subordinated notes that the company issued earlier in the summer. The other two American silver miners, Hecla Mining and Apex Silver, had a mixed showing: the former eased back a penny to US$4.03 and the latter climbed US50 to $15.20.

Also mixed were copper miners Phelps Dodge, up US9 at US$30.15, and Freeport-McMoRan Copper & Gold, down US36 at US$14.34. The diversified titans fared better: Rio Tinto soared US$2.50 to US$71.60; Anglo American climbed US89 to US$12.74; and BHP Billiton rose US33 to US$10.28.