(Adds stocks, details, updates prices to close)Feb 28 (Reuters) - Canada's main stock index slumped on Wednesday, pulled lower by energy shares that fell alongside the price of oil and as Valeant Pharmaceuticals tumbled after the company gave a weaker-than-expected revenue forecast.* The sell-off on the Toronto market accelerated into the closing bell, following Wall Street lower and making for i...Read More
March 1 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 6,016-40.9 NZX 50**8,353.090-20.730DJIA**25,029.20-380.83 NIKKEI**22,068.24-321.62Nasdaq**7,273.009-57.345 FTSE**7,231.91 -50.54S&P 500** 2,713.83 -30.45Hang Seng** 30,844.72-423.94SPI 200 Fut 5,962-39.00STI** 3,517.94 -22.45SSEC**3,259.4959 -32.57KOSPI** 2,427.36 -28.78---------------------------------------------...Read More
The stock market experienced another late-day decline, dragging the major indexes into negative territory. The Dow, S&P 500 Index, and Nasdaq got off to strong starts fueled by tech and retail stocks, while investors also reacted to this morning's fourth-quarter GDP update. But a sharp drop in oil prices resulted in major weakness from the energy sector, and the selling pressure only intensified i...Read More
BUENOS AIRES, Feb 28 (Reuters) - Argentina sold 58.3 billion pesos ($2.9 billion) in local law bonds, split between 30 billion pesos in bonds maturing in 2020 and 28.3 billion pesos in bonds maturing in 2023, the finance ministry said in a statement on Wednesday.The government received 68 billion pesos in orders for the 2020 bonds and 29 billion pesos in orders for the 2023 bonds, the ministry sai...Read More
Sweden's billionaire Lundin family is looking to spend as much as $3 billion on a new industrial-metal asset as prices rally, before turning its attention to scouring for a new gold project.Lundin Mining Corp. is on the prowl for a long-life zinc, nickel or copper asset and would shell out $1 billion to $3 billion, Lukas Lundin said in an interview Wednesday from the BMO Global Metals & Mining Con...Read More
Gold undermined by a higher US dollar index. Powell optimism about higher US inflation may be positive for Gold. Gold is now trading around $1318 in the New York session, almost unchanged (-0.05%) on a higher USD, amid concerns of higher US inflation and raising interest rates. After Tuesday’s Powell optimism, the USD drifted lower on early Wednesday Asian sessio...Read More
March 1 (Reuters) - Australian shares are expected to extend losses and open lower on Thursday following a decline in energy prices that hit U.S. stocks.The local share price index futures fell 45 points, or 0.8 percent, to 5,956, a 60-point discount to the underlying S&P/ASX 200 index close. The benchmark finished the previous session down 0.7 percent.New Zealand's benchmark S&P/NZX 50 in...Read More
(Adds central bank governor's comments)By Sheky EspejoMEXICO CITY, Feb 28 (Reuters) - Mexico's central bank kept its economic growth projections for this year and next unchanged in a report released on Wednesday, but flagged risks to the inflation outlook and vowed to act in an "opportune and firm" way to keep price expectations anchored.In its quarterly report, the Banco de Mexico said...Read More
* Fed chair's testimony read as striking hawkish tone* Weaker-than-expected U.S. data fails to tarnish dollar* Euro zone inflation slows, clipping euro bulls* Yen edges higher after BoJ trims super-long JGB buying (Adds comment, updates prices in text, table)By Gertrude Chavez-DreyfussNEW YORK, Feb 28 (Reuters) - The dollar rose to five-week highs on Wednesday, bolstered by an upbeat assessment of...Read More
Ann Saphir(Reuters) - A day after Federal Reserve Chair Jerome Powell told Congress a strengthening economy boosts his confidence that inflation and wages are on the rise, one of his colleagues argued for waiting on interest-rate hikes until those increases are obvious.“I want wage growth to continue to build, I want to see inflation move toward our 2-percent target, I want to see more evide...Read More
Howard Schneider, Lindsay DunsmuirWASHINGTON (Reuters) - Financial markets barely batted an eye on Tuesday when Jerome Powell’s first public statement as Federal Reserve chief saw daylight, interpreting it as a steady-handed commitment to the U.S. central bank’s policy of gradual interest rate increases.The calm evaporated about a couple of hours later, at 10:42 a.m. EST (1542 GMT), wh...Read More
U.S. stocks have traded on both sides of the aisle today, with markets last seen lower as oil prices slump. Not all the day's action is to the downside, though, with Dow stock United Technologies Corporation (NYSE:UTX), global nutrition company Herbalife Ltd. (NYSE:HLF), and Taser parent Axon Enterprise Inc (NASDAQ:AAXN) all trading higher. Here's a closer look at what shares of UTX, HLF, and AAX...Read More
Source: Streetwise Reports 02/27/2018With the price of gold staying firmly above $1,300/oz, Brien Lundin, editor of Gold Newsletter, discusses the state of the market and several top picks in an unlikely location.Tuvatu Project MapBrien Lundin, the well-respected editor of Gold Newsletter, is an industry veteran with over 30 years of experience. He began his career working with the visionary J...Read More
Gold pour at Porcupine mine. Image: GoldcorpAccording to the World Gold Council primary gold production hit another record in 2017 after nine years of growth in output, albeit at a much slower pace.Global gold production totalled roughly 105m troy ounces in 2017. Output is up 525 tonnes or nearly 17m ounces since the start of the decade.The top 10 listed, non-state owned gold miners are responsibl...Read More
(Adds oil, gold settlement prices, European market close)* Dollar touches five-week high on U.S. rate outlook* Global shares slide, Tencent, Celgene lead decline* Oil falls on surprise U.S. gasoline stock build By Herbert LashNEW YORK, Feb 28 (Reuters) - The dollar rose to five-week highs on Wednesday on the prospect of tighter monetary policy and an upbeat U.S. economic outlook from the Federal...Read More
The housing recovery appears to be making a U-turn as mortgage rates rise amid a critically low supply of homes for sale. Pending home sales, which measure signed contracts, not closings, fell 4.7 percent in January compared with December, according to the National Association of Realtors. The weakness was nationwide, and December's reading was also revised lower. Diana Olick| @DianaOlick Publish...Read More
It's been a wild ride for the U.S. stock market, with the Dow and S&P 500 Index (SPX) set to snap its longest monthly win streaks in decades -- and the Cboe Volatility Index (VIX) on track for its best monthly gain since August 2015. Amid this volatile trading environment, the VIX premium moved to a discount for the first time since October 2016 last week, and has since swung to a more extreme rea...Read More
(Kitco News)- In its continued attempted to promote innovation in themining Sector, Goldcorp is giving four companies the opportunity to presenttheir ideas to #disruptmining and win $1 million in potential investmentcapital.Luis Canepari, vice-president of technology at Goldcorp(NYSE: GG, TSX: G,) said the company went through hundreds of submissions tofind the best of the best in innovation. He a...Read More
SAO PAULO, Feb 28 (Reuters) - Mexican equities fell sharply again on Wednesday, posting their biggest monthly loss since September 2011, as a mediocre corporate results season wrapped up and uneasy negotiations continued for the North American Free Trade Agreement.Markets also continued to be spooked following a relatively hawkish speech by the newly appointed head of the Federal Reserve Jerome Po...Read More
* Spot gold may fall to $1,303/oz - technicals* Dollar index rises to highest since Feb. 9 * Fed's Powell strikes hawkish tone(Recasts, updates prices; adds comment, NEW YORK to dateline)By Renita D. Young and Maytaal AngelNEW YORK/LONDON, Feb 28 (Reuters) - Gold prices steadied on Wednesday after the previous session's more than 1 percent fall following comments by the Federal Reserve's new chair...Read More