(Updates with U.S. mid-afternoon trading)By David RandallNEW YORK, Aug 17 - Another steep decline in the Turkish lira on Friday pushed emerging market equities lower and kept other world markets cautious, overshadowing hopes that an upcoming U.S.-China meeting would resolve concerns over trade tariffs.MSCI's All-Country World index .MIWD00000PUS , which follows shares in 47 countries, rose 0.3 per...Read More
* FTSE 100 has worst week since March* Index hovers near 4-month low* Consumer staples, healthcare stocks rise* Negative broker notes weigh on Kingfisher , Kaz Minerals (Updates prices, adds details)By Kit Rees and Helen ReidLONDON, Aug 17 (Reuters) - Britain's top share index failed to rebound convincingly on Friday at the end of a turbulent week for markets during which an economic crisis in Tu...Read More
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* MSCI ACWI inches higher* Lira falls back nearly 5 pct* Bear markets in emerging stocks, European banks and copperBy Ritvik CarvalhoLONDON, Aug 17 (Reuters) - Caution seeped back into world markets on Friday, with news of U.S.-China trade talks offset by an end-of-week wobble in emerging markets as the Turkish lira's recovery ran out of st...Read More
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* Global stocks up 0.2 percent* Lira falls back nearly 3 pct* Emerging stocks, European banks and copper enter bear marketBy Ritvik CarvalhoLONDON, Aug 17 (Reuters) - World stocks rose on Friday as news of plans for U.S.-China trade talks soothed nerves over their tariff war, while the recovery in Turkey's lira ran out of steam.The MSCI All...Read More
(Bloomberg) -- Commodity markets have gone haywire -- and hedge funds with picture-perfect timing are set to rake in stellar profits.As U.S.-China trade tensions escalated mid-June, fast-money traders flipped to a short position in metals overall, subsequently extending bearish wagers to a record coming into this week’s maelstrom.Hedge funds’ net position stood at a negative 51 percent...Read More
WARSAW, Aug 17 (Reuters) - Poland's KGHM, one of the world's biggest copper and silver producers, will achieve its 2018 copper production plan despite a fall in output in the first half of the year, the company's chief executive said on Friday."Looking at the results planned for 2018 we are optimistic and we assume that they will be achieved," Marcin Chludzinski told a press conference after KGHM...Read More
The main union at Chile's Caserones copper mine, majority-owned by Japan's JX Nippon Mining and Mitsui Mining, has accepted an adjusted contractual offer from management, which marks the end of the negotiation process and removes the threat of a strike."We have reached an agreement on the drafting of the collective contract, and we have signed the collective agreement," the board said in an intern...Read More
Aug 16 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India ( CRISIL (NS:CRSL)) for local debt instruments as of August 14 and August 15, 2018. COMPANYINSTRUMENTRATINGAMOUNT MOVEMENT(RS.MLN) --------------------------- --------- SHORT TERM RATINGS: ------------------- Bhavani Saw Mill - TrichyLOC BillCRISIL D130DowngradedDiscountingfromCRISIL A4+ (ISSUER NOT CO...Read More
* Market focus shifts from tight supply to slowing demand* Prices steady as copper and equities recover from lows* Asian demand shows signs of weakening (New throughout, updates prices, market activity and comments to settlement)By Jessica Resnick-AultNEW YORK, Aug 16 (Reuters) - Oil rose slightly as global markets steadied on Thursday, recovering some of the previous day's 2 percent slide, though...Read More
MUMBAI, Aug 16 (Reuters) - The Indian rupee dropped to a record low in opening deals on Thursday with investor sentiment affected by a widening trade deficit on the domestic front and the broad rise in the U.S. dollar versus other Asian peers.The dollar held near a 13-month peak on Thursday as political turmoil in Turkey and concerns about China's economic health continued to support safe-haven as...Read More
(Updates to U.S. mid-afternoon; adds commentary)* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* Lira rises against dollar as Turkey reassures investors* EM currencies rebound as lira and yuan steadyBy April JoynerNEW YORK, Aug 16 (Reuters) - U.S. stocks and emerging market currencies rebounded on Thursday after China said it will hold trade talks with the United States later in August...Read More
(Updates after U.S. open; adds commentary; changes dateline; previous LONDON)* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* Lira rises past 6 per dollar; Turkish fin. minister holds call* EM FX breathes easier as dollar dipsBy April JoynerNEW YORK, Aug 16 (Reuters) - U.S. stocks and emerging market currencies rebounded on Thursday after China said it will hold trade talks with the Uni...Read More
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* FTSE hits record high to lift Europe* Disappointing Tencent results compound Asia's one-year lows* Lira rallies past 6 per dollar ahead of finance minister call* Rest of EM FX breathes easier as dollar dips* Oil flat after fall, metals tick up as bears claw copperBy Marc JonesLONDON, Aug 16 (Reuters) - Bruised world shares and emerging ma...Read More
Investing.com - U.S. futures pointed to a higher open on Thursday, as investors reacted positively to developments in trade talks between China and the U.S. and positive earnings reports from blue-chip companies, while keeping an eye on blue-chip earnings and waiting for a slew of data to be released before the open.The blue-chip Dow futures gained 200 points, or 0.79%, by 7:10 AM ET (11:10 GMT),...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)LONDON, Aug 16 (Reuters) - European shares bounced back on Thursday after Beijing said it would hold trade talks with the U.S. in Washington later this month, spurring a recovery in investors' risk appetite on hopes of a trade war thaw.Europe's STOXX 600 .STOXX rose 0.2 percent, clawing back some of the previous session's loss...Read More
The major gold miners' stocks plummeted in brutal cascading selling this week as stops were run. That shattered strong multi-year support, devastating sentiment among the handful of contrarians remaining in this forsaken sector. With fear and despair extreme, it's critical to take a deep breath and get grounded in the gold miners' just-reported Q2'18 fundamentals. They reveal if this surpris...Read More
WARSAW, Aug 16 (Reuters) - Poland's KGHM, one of the world's biggest copper producers, reported a 50 percent fall in second quarter net profit as lower sales, rising costs and provisions offset the positive impact of higher copper prices.KGHM said on Thursday that second quarter net profit fell to 171 million zlotys ($45 million), from 341 million a year ago, and missed analysts forecasts of 361 m...Read More
Shares in Kaz Minerals (LON: KAZ) jumped Thursday after the copper miner declared its first dividend since 2012 and said it planned to expand its footprint in Russia, following the acquisition earlier this month of a project from Roman Abramovich, the owner of Chelsea soccer club.The Kazakhstan-focused company said it would pay a dividend of 6 cents per share, the first since began ramping up its...Read More
The US administration is not waiting to hear the results of ongoing legal challenges to President Donald Trump's order to scale back two nationals monuments, as it's moving forward with plans to allow mining and oil extraction in the newly-opened areas.Land that once belonged to the Bears Ears and Grand Staircase-Escalante national monuments, both of them in Utah, will likely be up for grabs onc...Read More
* U.S. crude stocks rose 6.8 mln bbls, surprising market* Inventory build came despite record refinery runs* World trade growth peaked in January -analysts* U.S. sanctions against Iran to cut supply (New throughout, updates prices, market activity and comments to settlement)By Jessica Resnick-AultNEW YORK, Aug 15 (Reuters) - Oil futures slid on Wednesday, with U.S. crude settling 3 percent lower a...Read More