* FTSE 100 ends down 1.7 pct* Dollar strength batters commodities stocks* Fresh hopes for GSK's HIV business lift shares* Admiral, Hikma results in focus (Recasts, adds quote and detail, updates prices at close)By Kit Rees and Helen ReidLONDON, Aug 15 (Reuters) - Britain's top share index sank on Wednesday as emerging markets stress and a sharp selloff in commodities drove down stocks across Europ...Read More
* Dollar index hits 13-month high* 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 with U.S. open; adds commentary, changes dateline; previous LONDON)By Sin?(C)ad CarewNEW YORK, Aug 15 (Reuters) - Equities around the world took a dive on Wednesday, with emergi...Read More
* Dollar surge resumes; index hits new 13-month high* Turkish lira extends bounce but many early gains fizzle* Stronger dollar pressures commodities, copper, gold, oil slide* Indonesia raises rates for fourth time since May* World stocks down half percent, EM stocks slump 2 percent (Updates throughout)By Sujata RaoLONDON, Aug 15 (Reuters) - The dollar resumed its rise on Wednesday, surging to new...Read More
Investing.com - Gold prices fell to fresh one-and-a-half year lows on Wednesday as the broadly strong dollar continued to weigh on demand for bullion.December gold futures hit a low of $1,190.80, the weakest level since late January 2017, and were down 0.74% at $1,191.80 by 07:34 AM ET (11:34 AM GMT) on the Comex division of the New York Mercantile Exchange.Gold prices remained below the psycholog...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 flat* Fresh hopes for GSK's HIV biz lifts shares* Admiral, Hikma results in focus* Miners fall as copper price declinesBy Kit ReesLONDON, Aug 15 (Reuters) - The UK's top share index steadied on Wednesday as a fall across mining stocks capped results-driven gains, with GlaxoSmithKline a standout riser after the resul...Read More
(Adds company news and futures)Aug 15 (Reuters) - Britain's FTSE 100 index .FTSE is seen opening 17 points higher at 7,629 on Wednesday, according to financial bookmakers with futures FFIc1 up 0.09 percent ahead of the cash market open.* BALFOUR BEATTY: Construction company Balfour Beatty Plc BALF.L reported on Wednesday a 69 percent jump in underlying operating profit as its measures to cut cos...Read More
* MSCI Asia-Pacific index down more than 1 pct* Spreadbetters expect European stocks to open slightly higher* Turkish woes linger; safe-haven dollar rises to 13-month high* Lira trims gains after rallying the previous day* Stronger dollar pressures commodities, gold hits 18-mth lowBy Shinichi SaoshiroTOKYO, Aug 15 (Reuters) - Asian stocks retreated to a one-year low on Wednesday as bearish Chinese...Read More
Aug 15 (Reuters) - Britain's FTSE 100 index .FTSE is seen opening 17 points higher at 7,629 on Wednesday, according to financial bookmakers.* RBS: Royal Bank of Scotland RBS.L will pay $4.9 billion to settle U.S. claims that it misled investors on residential mortgage-backed securities between 2005 and 2008, the U.S. Justice Department said on Tuesday, adding this was the largest penalty imposed o...Read More
PolarX points to upsideSPONSOREDpolarx ltdChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftFurther de-risking as Danakali debuts on bigger stageSPONSOREDdanakaliKing River's 'overnight' success story stretches back to 1970SPONSOREDking river copperThe MIT research team, led by associate professor of metallurgy Antoine Allanor...Read More
Orla hits 147.7m at 1.25% copperResource definitionPolarX points to upsideSPONSOREDpolarx ltdChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftFurther de-risking as Danakali debuts on bigger stageSPONSOREDdanakaliLow national productivity due to historically weak public investment spending needs fixing. Slowly growing but aging population...Read More
The company saw profits climb 49% year-on-year in the first half of 2018 to US$276 million, while basic and diluted earnings per share for the six-month period was 62c, up from 41c/share in the ...Read More
Mining and metals investors dumped the sector's big names on Wednesday after sharp drops in base and precious metal prices over concerns of emerging market contagion from the currency crisis in Turkey, worries about the robustness of the Chinese economy and the impact of widening trade war sparked by US tariffs.Copper touched a low of $2.55 a pound ($5,622 a tonne) in New York and entered a bear m...Read More
Copper managed to eke out small gains in after hours trade on Wednesday after falling by nearly 5% earlier in the day over concerns of an emerging market contagion from the currency crisis in Turkey and worries about the robustness of the Chinese economy.But late-breaking news that a strike had been averted at the world's largest copper mine put a cap on hopes of recovery for the bellwether metal....Read More
(Bloomberg) - U.S. stocks headed for their worst day in almost two months, joining a broad decline in global equities as disappointing earnings from Chinese internet giant Tencent Holdings Ltd. roiled technology shares and copper entered a bear market, weighing on commodities. Crude briefly tumbled to below $65 a barrel after a report that American stockpiles rose the most since March 2017.The S&...Read More
From Turkey's financial crisis to China's trade war, the emerging-market contagion is infecting metal markets.Base metal markets tumbled on Wednesday, with most contracts falling more than 2 percent in London. Copper sank below $6,000 a metric ton and is set to close in a bear market. Not even gold, the usual safe haven, was spared from the selloff. Palladium plunged 5 percent and the FTSE 350 Min...Read More
(Image courtesy of BHP.)The union for Chile's Escondida, the world's largest copper mine, said on Wednesday it will avert its planned strike to consult members about a renewed proposal for a new labor contract from operator BHP ."We have received a new offer that will be presented to members," Patricio Tapia, union's president, told Reuters without providing further details.The new offer came in a...Read More
MUMBAI, Aug 14 (Reuters) - The Indian rupee INR=D2 erased early gains to hit an all-time low of 70.1 per dollar on Tuesday, as concerns about Turkey's economic woes persisted.The rupee was last at 69.99 to the dollar, compared with its previous close of 69.95 per dollar.The 10-year benchmark bond IN071728G=CC yield inched up to 7.82 percent after staying muted in early trade.Read More
* U.S. sales up nearly 8 pct* Q1 total revenue up 16 pct* Stock top gainer on NSE index (Adds details on U.S. and India sales, share movement)Aug 14 (Reuters) - India's largest drugmaker Sun Pharmaceutical Industries Ltd SUN.NS posted a first-quarter profit on Tuesday, beating street estimates, helped by stronger sales in the United States.Net profit came in at 9.83 billion rupees ($140.6 million)...Read More
(Adds details, background, shares)Aug 14 (Reuters) - Indian state-run lender IDBI Bank Ltd IDBI.NS posted a seventh straight quarterly loss on Tuesday, sending its shares lower, as the bank continues to be plagued by the highest bad loan ratio in the sector.Indian banks have seen a surge in non-performing loans that hit a record $150 billion at the end of March, with 21 lenders, including IDBI,...Read More
(Bloomberg) -- The giant rocky outcrop known by locals as La Cobaltera offers a glimpse into northern Chile’s mining past, and a hint of its future.Slag from an ancient furnace is piled at the entrance of a mine shaft that hasn’t seen commercial activity since World War II. Inside, eucalyptus posts still support narrow tunnels, placed there by German engineers as a kind of alarm system...Read More