* European stocks halt three-day worldwide equities rally* Markets focussed on Trump-Juncker trade meeting* Commodities bolstered by prospect of increased China demand* China yuan, Turkish lira steady in FX markets* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, July 25 (Reuters) - A three-day worldwide stocks rally was threatening to stall on Wednesday, as investors...Read More
Although precious metals have not rebounded too strongly yet, the long awaited summer rally could be underway (at least in Gold). Gold is oversold and its sentiment is overly bearish. But it is holding important support in the low $1200s. Silver has begun to rally after breaking down from a triangle consolidation. The gold stocks held up well during recent carnage in the metals but are struggling...Read More
July 25 (Reuters) - Canada's Lundin Mining Corp said Chief Executive Officer Paul Conibear is retiring and also reported a 3 percent rise in second-quarter profit on Wednesday.The base metal producer said Chief Financial Officer Marie Inkster will take up the role of CEO.The company's net income rose to $87.5 million, or 11 cents per share, in the quarter ended June 30, from $85 million, or 10 cen...Read More
Barrick reported a net loss of US$94 million or 8 cents per share, and adjusted net earnings of $81 million or seven cents per share for the second quarter of 2018.Barrick (NYSE:ABX) traded down -1.18% to US$11.68 as of 5:42 p.m. EDT.Barrick said earnings and cash flow impacted by planned maintenance activities at Barrick Nevada and Pueblo Viejo. The company says it remains on track to meet full-...Read More
WILLIAMS LAKE, BC, July 25, 2018 /CNW/ - Some 200 members of the United Steelworkers (USW) at Mount Polley mine near Williams Lake, B.C., are set to vote on a tentative agreement next week, following an eight-week strike in response to a company lockout and attempts to extract concessions."Our members have stood strong and stood together in their desire to see a fair agreement," says USW Staff Rep...Read More
TORONTO, July 25 (Reuters) - Freeport-McMoRan Inc, the world's biggest publicly listed copper miner, reported bigger-than-expected earnings on Wednesday, as production and prices soared above last year, but flagged market jitters from global trade disputes.Uncertainty around the economic impact of a U.S.-China trade war has pushed copper prices lower in recent weeks, but Phoenix-based Freeport has...Read More
Unionized workers at Chile's Escondida copper mine, the world's largest, are discussing the final wage offer presented Wednesday by majority owner and operator BHP (ASX, NYSE:BHP) (LON:BLT), which looks shy of what employees wanted.The company has offer workers a signing on bonus of $27,000, up from an earlier offer of $23,000, plus a 1.5% salary increase, but still well under the bonus up to $4...Read More
Goldcorp reported a net loss of $131 million or 15 cents per share in its second quarter.Goldcorp attributed the loss to non-cash foreign exchange losses primarily arising on deferred tax balances. The company reconfirmed 2018 guidance for gold production of 2.5 million ounces, plus or minus 5 per cent, and a all-in-sustaining-cost of $800 per ounce, plus or minus 5 per cent. Gold production was...Read More
Chilean miner Antofagasta Plc. (LON:ANTO) said Wednesday that copper production in the second-quarter of the year jumped 6.1% to 163,200 tonnes, while costs fell by 7.5% to $1.85 per pound.Higher output at its Centinela and Antucoya mines mitigated declines at Los Pelambres and Zald?-var.The company, majority-owned by Chile's Luksic family, one of the country's wealthiest, said it expected the hig...Read More
Vale announced an adjusted EBITDA of US$3.9 billion in Q2 with iron ore production of 96.8 tonnes and sales of 86.5 tonnes.Iron ore production was 4.9 tonnes higher than the same period a year ago. Vale's net operating revenues were US$8.616 billion.Vale said capital expenditures have reached the lowest level for a second quarter since 2005, totaling US$705 million with US$205 million in project...Read More
* Google parent jumps to record as results impress* Beijing pledges vigorous fiscal steps (Updates to U.S. stock market close)By Trevor HunnicuttNEW YORK, July 24 (Reuters) - Stocks on major world markets hit their highest in more than a month on Tuesday, on good earnings reports from U.S. companies and after China promised fiscal action to support the world's second-largest economy.MSCI's global...Read More
* FTSE 100 up 0.7 pct as miners, banks rise* Spectris down on cost saving disappointment* Britvic , Close Brothers gain after updates (Recasts, adds detail and updates prices at close)By Danilo Masoni and Kit ReesMILAN, July 24 (Reuters) - Britain's top share index rose on Tuesday as banks and mining companies rallied, joining in with a broader rise across European stocks as sectors bruised by...Read More
Investing.com - Gold prices edged forward on Tuesday, as a weaker dollar helped to support demand for the precious metal.At 10:59 AM ET (14:59 GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained $3.00, or 0.24%, to $1,228.60 a troy ounce.Meanwhile, the U.S. dollar index, which measures the greenback’s strength against a trade-weighted baske...Read More
* Google parent jumps to record as results impress* Talk U.S. GDP report on Friday could beat forecasts* Metals prices jump* Beijing pledges vigorous fiscal steps (Updates to U.S. stock market open; changes dateline, previous LONDON)By Trevor HunnicuttNEW YORK, July 24 (Reuters) - Global equity markets hit their highest in a month on Tuesday, as stellar results from Google parent Alphabet underpin...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.4 pct as miners, banks rise* Spectris down on cost saving disappointment* Britvic , Close Brothers gain after updatesMILAN, July 24 (Reuters) - Britain's top share index rose on Tuesday as gains in banks and mining companies offset weakness in energy stocks.Trading activity was lackluster with the FTSE 100...Read More
(Adds company news items and futures)July 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 25 points higher at 7,681 on Tuesday, according to financial bookmakers, with futures FFIc1 up 0.38 percent ahead of the cash market open.* BT GROUP: Britain's BT Group BT.L said on Tuesday it would encourage telecom operators to move residential and business customers onto faster broadband by o...Read More
July 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 25 points higher at 7,681 on Tuesday, according to financial bookmakers.* BHP: The management at Chile's Escondida copper mine, the world's largest, said on Monday it would deliver its final labor contract offer to the labor union on Tuesday amid tense contract negotiations ahead of a possible strike. BRITAIN-NORTHSEA: The British...Read More
The ongoing trade war between the United States and China has forced the Chilean Copper Commission (Cochilco) to revise downwards its average copper price prediction by $0.06 per pound to $3.The state agency also said it expected the metal's price to climb back upwards next year, reaching $3.10 per pound.In terms of output in Chile, the world's largest copper producing country, Cochilco expects...Read More
Canadian gold junior Lumina Gold (TSX-V:LUM) (OTC:LUMAF) said Tuesday that recent changes introduced by Ecuador to mining regulations will allow the company to boost exploration at its Cangrejos gold-copper project.The reforms, enacted by the country's Ministry of Energy and Non-Renewable Natural Resources, let companies perform non-systematic drilling during the early exploration phase of their...Read More
Mining investors are losing confidence in the mineral exploration permit process in most Canadian provinces with applications taking longer to be approved and a lack of transparency, a new study released Tuesday shows.According to the Fraser Institute, an independent, non-partisan Canadian policy think-tank, British Columbia, Ontario and Quebec are the three main provinces where exploration reques...Read More