* World share markets climb for 4th day, Wall Street at record* ECB to detail plans to extend stimulus* China trade beats forecasts, commodity imports jump* Euro unfazed as Moody's turns negative on Italy rating* Oil prices steady after slip, steel surge lifts iron ore* Graphic: World FX rates in 2016 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, Dec 8 (Reuters) - World shares climbed to a three-mo...Read More
* World share markets climb for 4th day, Wall Street at record* ECB to detail plans to extend stimulus* China trade beats forecasts, commodity imports jump* Euro unfazed as Moody's turns negative on Italy rating* Oil prices steady after slip, steel surge lifts iron ore* Graphic: World FX rates in 2016 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, Dec 8 (Reuters) - World shares climbed to a near thr...Read More
(Adds company news items, futures)Dec 8 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening between 16 and 25 points higher, or up as much as 0.4 percent on Thursday, according to financial bookmakers, with futures FFIc1 up 0.3 percent ahead of the cash market open.* The UK blue chip index was up 1.8 percent to 6,902.23 at its close on Wednesday, as investors snapped up bank and mining stoc...Read More
Dec 8 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening between 16 and 25 points higher, or up as much as 0.4 percent on Thursday, according to financial bookmakers.* The UK blue chip index was up 1.8 percent to 6,902.23 at its close on Wednesday, as investors snapped up bank and mining stocks and rotated out of more "defensive" parts of the market. GLENCORE: Russia said on Wednesday it s...Read More
The copper price hit an 18-month high on an intraday basis last week as global manufacturing activity continues to pick up and hopes about US president-elect Trump's $500 billion infrastructure plans lift sentiment.While it's pulled back from those levels since, official customs data from China, responsible for some 45% of the seaborne trade in the red metal, released on Thursday is seeing the met...Read More
Nevsun Resources (TSE:NSU NYSEMKT:NSU) Timok copper project continues to boost the stock of the Vancouver-based company with a 5% jump on Wednesday following the latest set of drilling results from the Serbian property.By the close in New York, Nevsun shares changed hands at $3.30, up 4.8% on the day, and in after hours trade investors continued to chase the counter higher affording it a market ca...Read More
Plans by Barrick Gold (TSX, NYSE:ABX) to revive its Pascua Lama project straddling the border between Argentina and Chile received a boost on Wednesday after Chilean authorities rejected an attempt by local communities to block changes to environmental monitoring at the site.The ministerial resolution can be appealed within 30 days and Reuters reports the Huasco Valley community which brought the...Read More
Capital allocation will be the top priority for Canada's large mining companies going into 2017, as they'll have to focus on directing money to the right projects and advancing them with the necessary funding in place, a new report released by PwC Wednesday shows.The mine of the future will embrace innovation and non-traditional ideas to overcome challenges and achieve success, the document says,...Read More
Rio Tinto chief executive Jean-Sebastian Jacques said Wednesday an ongoing border dispute with China over copper exports from Mongolia, which directly affects its massive Oyu Tolgoi mine, will be resolved quickly.Referring to his previous dealings with the Mongolian government Jacques told The Telegraph he had become used to "such bumps in the road"."Each time we would work with the authorities...Read More
Canada's Barrick Gold (TSX, NYSE:ABX) has decided to strengthen its position in Latin America, a market where it has experienced a series of challenges in the past three years, by hiring a new director with decades of mining experience in the region.The world's largest producer of the precious metal by output said the appointment of Pablo Marcet, who worked for 15 years for BHP Billiton and was pr...Read More
Dec 7 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening between 31 and 35 points higher, or up as much as 0.52 percent on Wednesday, according to financial bookmakers.* The UK blue chip index closed up 0.5 pct at close at 6,779.84, supported by a rally in bank stocks. RIO TINTO: The copper market will go into deficit by 2020, just when Rio Tinto 's RIO.L RIO.AX extension to the Oyu Tolgo...Read More
Ahead of the US presidential election great hopes were pinned on the performance of the gold price should Donald Trump prevail. A few analysts saw a Trump victory sending gold to $1,500 or well beyond.After a brief surge to $1338 an ounce on election night, gold's nearly $180 an ounce collapse has unnerved the entire sector - even those companies enjoying the bounce in base metals that started wa...Read More
Chile contains half of the world's most "economically extractable" reserves of lithium. (Image courtesy of University of Chile)Chinese and Korean investors are said to be in advanced talks with the Chilean government to open up a $2 billion mega-lithium batteries plant in the country's north, known for its vast salt flats under which experts say there is enough of the commodity to supply the worl...Read More
On Tuesday, December 6, 2016, the nation will pay tribute to the American miner, both past and present, on National Miners Day. This day was proclaimed in 1907 by the Mine Safety and Health Administration (MSHA) and Congress in 2009 to commemorate a 1907 explosion at the No. 6 and No. 8 mines in Monongah, West Virginia, killing 362 miners. This incident still stands over a century later as the wor...Read More
I'm sure most of you have, like me, spent too much time reading and thinking about this issue in recent weeks. The first half of the year was so fun, so rewarding, with all the arguments for gold proving true. It is much less fun now seeing gains erode, seeing gold break down through technical barriers, seeing the US dollar rise and rise, and seeing US equities maintain a seemingly endless bull ru...Read More
LONDON, Dec 6 (Reuters) - European shares edged lower in early trading on Tuesday, with commodities-related stocks coming under pressure following a drop in prices of crude oil and industrial metals.The pan-European STOXX Europe index .STOXX was down 0.2 percent. Italy's FTSE MIB .FTMIB was trading flat after finishing down 0.2 percent on Monday following political jitters in Italy.The STOXX Europ...Read More
(Adds compay items)Dec 6 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening between 4 and 14 points lower on Tuesday, according to financial bookmakers, with futures FFIc1 down 0.1 percent ahead of the cash market open.* The UK blue chip index closed up 0.2 percent on Monday at 6,746.83 points, with basic resources stocks leading the market higher as prices of industrial metals such as cop...Read More
Dec 6 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening between 4 and 14 points lower on Tuesday, according to financial bookmakers.* The UK blue chip index closed up 0.2 percent on Monday at 6,746.83 points, with basic resources stocks leading the market higher as prices of industrial metals such as copper rose. BARCLAYS: British bank Barclays Plc BARC.L has joined the list of top bank...Read More
While precious metals (with the exception of palladium) have suffered a deep sell-off since the surprise outcome of the US presidential elections, the rally in industrial metals appear intact.In a new report BMI Research, a unit of Fitch, says the gains in metal prices this year is set to continue in 2017 thanks to infrastructure spending in China and to some extent in the US and the UK, but at a...Read More
Credit ratings agency Moody's warned at the beginning of the year that the downturn in raw materials was like no other and that the global mining sector was undergoing structural change.As a result, Moody's embarked on a sector-wide review of the 87 global mining majors that it covers and in the process dropped big names like Freeport-McMoRan, Anglo American and Vale into junk territory and axed r...Read More