Oreninc Index Falls to Four-Month Low
The Oreninc Index fell to a four-month low for the holiday shortened week ending January 7, 2016. Total dollars announced jumped to $60.8m, a two-week high. No brokered financings were announced, a six-week low. No bought deal financings were announced for the sixth time in seven weeks.
Gold had a fantastic week, hitting a seven-week high on the back of geopolitical tensions in the Middle East and North Korea. Copper and Oil, on the other hand, both had horrendous weeks on the back of concerns over the Chinese economy.
While it is never great to see the index as low as it is this week, the first week of the year is historically a slow week in the financing markets. With falling commodity prices, however, it would not be surprising if we had a slow start to the new year.
