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
NEW DELHI, Aug 15 (Reuters) - India's foreign exchange reserves are comfortable by global standards and sufficient to mitigate any undue volatility in the foreign exchange market, the finance minister said on Wednesday, a day after the rupee currency sank to an all-time low.The rupee INR=D2 hit the record low of 70.1 per dollar on Tuesday, as concerns about Turkey's economic woes spreading to othe...Read More
* India aims to launch first manned space mission by 2022* To roll out medical insurance scheme for the poor* Modi lists achievements ahead of 2019 general elections (Adds details, quotes; paragraphs 4 to 13)By Krishna N. Das and Promit MukherjeeNEW DELHI, Aug 15 (Reuters) - India will launch its first manned space mission by 2022 and roll out a health insurance scheme from September, Prime Minist...Read More
* Dollar index fades after hitting 13-month high* Turkish lira, euro helped by Qatar pledge* Commodities, copper, gold, oil slide* World stock index down 1.1 pct, EM stocks slump 1.8 percent (Updates to U.S. close, adds commentary)By Sin?(C)ad CarewNEW YORK, Aug 15 (Reuters) - Equities around the world took a dive led by emerging market stocks on Wednesday and commodities tumbled as investors look...Read More
(Bloomberg) -- Copper plunged into a bear market as concerns mount that Turkey’s financial crisis and the U.S.-China trade spat will stymie global economic growth.The red metal for delivery in three months fell 4 percent to settle at $5,801 a metric ton at 5:52 p.m. Wednesday on the London Metal Exchange. That’s a more-than 20 percent drop from its high of $7,332 a ton in June, meeting...Read More
* Dollar index hits 13-month high, commodities tumble* Turkish lira extends bounce but many early gains fizzle* Stronger dollar pressures commodities, copper, gold, oil slide* World stock index down 1.3 pct, EM stocks slump 2 percent (Updates to U.S. mid-afternoon, adds commentary)By Sin?(C)ad CarewNEW YORK, Aug 15 (Reuters) - Equities around the world took a dive on Wednesday, with emerging marke...Read More