BRUSSELS (Reuters) - Walt Disney (DIS.N) has offered concessions in an attempt to allay EU antitrust concerns over its $71.3 billion bid for Twenty-First Century Fox Inc’s (FOXA.O) entertainment assets, the European Commission said on Monday.Disney submitted its proposal on Friday, according to a filing on the EU competition enforcer’s website which however did not provide details.The...Read More
TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe on Monday pledged to go ahead with an increase in the national sales tax next October.Abe said the government will consider tax breaks for durable goods purchases, such as cars and homes, and come up with a scheme to ease the burden on small companies and small retailers once the sales tax is raised to 10 percent from 8 percent.The government wi...Read More
ROME (Reuters) - Italy’s cabinet was due to meet later on Monday but the approval of the 2019 budget, which envisages a jump in the deficit that has upset financial markets and drawn criticism from the European Commission, slipped to Tuesday.The government, backed by the right-wing League and the anti-establishment 5-Star Movement, has already issued the financial framework for the budget, r...Read More
One brokerage firm upgraded the stock to "buy"The shares of AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) surged almost 37% last week -- their biggest one-week gain since September 2017 -- after a Food and Drug Administration (FDA) panel deemed the company's opioid treatment safe. ACRX stock is up another 10.5% today to trade at $4.40, earlier hitting an annual high of $5.03, after seeing an onslaught...Read More
* Lead rebounds to Sept. 10 high* GRAPHIC-2018 asset returns: tmsnrt.rs/2jvdmXl (Adds closing prices)By Zandi ShabalalaLONDON, Oct 15 (Reuters) - Lead jumped to its highest in six weeks on Monday, helped by a weaker dollar and falling inventories, but U.S-China trade tensions kept pressure on most metals.Benchmark lead ended 1.6 percent higher at $2,085 per tonne, after touching its highest sinc...Read More
(Kitco News)- Gold prices are holding moderate gains in early-afternoon U.S. trading Monday. Early on,prices hit a 10-week high. Some more safe-haven demand, technical buying andshort covering are boosting the yellow metal again today. The bulls havetechnical strength and momentum to suggest more gains are coming in the nearterm. December gold futures were last up $8.00 an ounce at $1,230.40. Dece...Read More
Anglo Asian Mining's gold output rose 47 percent in the third quarter, the London-listed company said on Monday, adding that full-year production would be at the top end of its current guidance.Azerbaijan's leading gold mining firm said it produced 21,318 ounces of the metal in the last quarter, against 14,468 ounces in the same period of last year.Its total production of gold-equivalent ounces (G...Read More
Mine photos courtesy of Agnico Eagle Mines,(Kitco News)- It's only a matter of time before investors come back to the mining sector, but they need to see viable business and growth potential, according to Sean Boyd, CEO of Agnico Eagle (NYSE: AEM, TSX: AEM).It's with that focus that Agnico Eagle prepares to launch its two new mines in Nunavut, Canada's eastern Arctic. The company's Meliadine prope...Read More
The annual "In Gold We Trust" report by Liechtenstein-based investment firm Incrementum is a must-read account of the gold market, and its just-released chartbook for the 2018 edition is no exception.The strengthening U.S. dollar has lately dented the price of gold, and rising interest rates are making some yield-bearing financial assets more attractive as a safe haven. But as Incrementum shows,...Read More
Tech stocks are dragging the Nasdaq lower The Dow Jones Industrial Average (DJI) has explored a roughly 185-point trading range on both sides of breakeven, last seen higher on a boost from Walgreens Boots Alliance (WBA). On the other hand, the tech-rich Nasdaq Composite (IXIC) is firmly in the red, as a big drop in Apple (AAPL) weighs on technology stocks. Traders are also digesting this morning's...Read More
Australia's chronic shortage of Greenfields mineral discoveries can only be overcome by changing the sector's exploration, financing and training models, according to a keynote speaker at a major international geoscience forum in Adelaide today.Dr Hronsky urged the sector and geoscientists to "front-end load" the area selection process to target new search spaces and to better understand and explo...Read More
(Kitco News)- Sentiment appears to be shiftingin the gold market and analysts are dismissing a new record in speculativebearish positioning shown in the latest data from the Commodity Futures TradingCommission (CFTC). The CFTC's disaggregatedCommitments of Traders report (COT), for the week ending Oct. 9, showed moneymanagers dropped their speculative gross long positions in Comex gold futuresby 1...Read More
For a measure of how much last week's surge in gold prices may have caught the market by surprise, consider that hedge funds had just made their biggest-ever bearish wager on the metal days before.Speculators boosted their net-short position in bullion futures and options to the largest since at least 2006 in the week ended Tuesday, according to government data released three days later. By Thursd...Read More
A free tool can help traders bank big this earnings season.Financial stocks (JPM, C, and WFC) kicked off earnings season on Friday, and traders need to position themselves now in order to ensure maximum profit from it.One company can help any investor do just that.They've developed a tool that predicts volatility based on earnings announcements.The tool works on select stocks with a 77.6% accuracy...Read More
The bull market could be nearing its end, and a new panic is approaching.The U.S. Mint just issued a troubling report.It appears that sales of physical gold and silver are in full collapse.At the Mint, U.S. Gold Eagle coins sold through August have dropped 18% compared to last year.And sales of U.S. Silver Eagle coins fell a whopping 32.6% in August 2018 compared to August 2017.What exactly is go...Read More
Trump may be facing an uphill battle he can't win in 2020.He's a successful businessman who never held public office before winning the Presidency...He's coming into power after an electoral college landslide...And he did it by beating an out-of-touch New Yorker opponent.Once in office, he launches a vast trade war, promising to stand up for America's heartland, with 890 increased tariffs in total...Read More
JNJ has had a volatile run on the charts over the past yearShares of Johnson & Johnson (NYSE:JNJ) are modestly higher in mid-morning trading, the Dow name seeing a slight lift from an early morning price-target hike to $154 from $150 at BMO. Plus, traders are gearing up for the drug giant's third-quarter report, which is scheduled to surface before the market opens, tomorrow, Oct. 16. At last che...Read More
NEW YORK (Reuters) - A sharp pullback in stocks last week, including the S&P 500's .SPX biggest single-day drop since a market correction in February, has left investors questioning whether this could signal danger for the longest-ever bull run for U.S. equities.The following are five arguments on either side of the debate:REASONS TO BE BULLISHPROFITS, PROFITS, PROFITS: Strong growth in U.S....Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Monday reiterated that he made no deal with Turkey to lift U.S. sanctions in exchange for the release of an American pastor who had been detained there and who returned to the United States over the weekend.“We had no deal with Turkey,” Trump told reporters at the White House. “I feel much differently about Turkey today than I...Read More
The shares are lower today, howeverActivision Blizzard, Inc. (NASDAQ:ATVI) was already on our radar coming into today due to where the stock was trading on the charts, and now Barclays is jumping on the bullish bandwagon. The brokerage firm just upgraded ATVI to "overweight" from "equal weight" and hiked its price target to $86 from $79. The analyst note called out positive early engagement metric...Read More