(Adds details, quote)CAIRO, Feb 26 (Reuters) - Average yields on Egypt's 10-year treasury bonds jumped by nearly 100 basis points on Monday at the first auction of its kind since the central bank began loosening monetary policy. The 10-year bond rose to 14.800 percent from 13.871 percent at the last auction on Feb. 12, central bank data showed on Monday. It had dropped from 14.732 percent on Jan....Read More
* Tech stocks, Berkshire Hathaway push Wall St higher* Bond yields fall ahead of Powell's testimony* Oil gains on strong demand, Saudi comments* Chinese stocks rally as Xi set to stay in power By Herbert LashNEW YORK, Feb 26 (Reuters) - Global equities rose on Monday, with Wall Street surging more than 1 percent, while the dollar was little changed as investors bet the new head of the Federal Res...Read More
TORONTO, Feb 26 (Reuters) - Canada's main stock index rose on Monday as gains in prices of commodities such as gold and silver helped support shares of mining companies. The Toronto Stock Exchange's S&P/TSX composite index closed up 76.21 points, or 0.49 percent, at 15,714.66. Nine of the 10 main sectors on the index were in positive territory. (Reporting by John Tilak; Editing by Sandra Maler...Read More
Miners in northwest Papua New Guinea reported some damage to infrastructure following a powerful magnitude 7.5 earthquake on the weekend, as projects in the resource-rich region assess the impact on their operations.Barrick Gold Corp said a power station that supplies its Porgera gold mine had been damaged, while Ok Tedi Mining Ltd said a landslip had blocked a road and damaged pipelines to its co...Read More
It was a bullish day for the stock market, as equities rallied in the face of a stabilizing 10-year Treasury yield. The Dow jumped nearly 400 points, led by another tech-sector surge. It was smooth sailing for the S&P 500 Index and Nasdaq, too, with the latter moving into positive month-to-date territory. While the economic schedule was rather light today -- aside from a fresh round of housing dat...Read More
Feb 27 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 6,042.20 42.4NZX 50**8,340.53 38.81DJIA**25,709.27399.28NIKKEI**22,153.63260.85Nasdaq**7,421.46484.074FTSE**7,289.58 45.17S&P 500** 2,779.60 32.30 Hang Seng** 31,498.6 231.43SPI 200 Fut 6,04429STI** 3,555.85 22.63SSEC**3,330.2506 41.23 KOSPI** 2,457.65 6.13------------------------------------------------------------...Read More
Feb 26 (Reuters) - Palo Alto Networks Inc reported a smaller quarterly loss as the cyber security company added more customers to its cloud-based security services.The company's net loss narrowed to $34.9 million, or 38 cents per share, in the second quarter ended Jan. 31, from $60.6 million, or 67 cents per share, a year earlier. Revenue rose to $542.4 million from $422.6 million. (Reporting by L...Read More
(Adds further quote, background)WASHINGTON, Feb 26 (Reuters) - There are some upside risks to the U.S. economic outlook but the degree to which it would affect monetary policy depends on whether the potential capacity of the nation's economy is also raised, Federal Reserve Governor Randal Quarles said on Monday."There is a real possibility that some of the factors that have been holding back...Read More
Africa-focused Caledonia Mining Corp. (TSE:CAL) revealed Monday that one person died on February 23, following an accident at its Blanket gold mine in southwestern Zimbabwe.The fatality occurred in the Blanket Quartz Reef area of the mine, where production has been stopped. Management said they will not provide further details about the incident, as it should first be investigated by the Inspector...Read More
Feb 27 (Reuters) - Australian shares are expected to open higher on Tuesday as risk appetite may remain supported by a strong performance on Wall Street overnight.The local share price index futures rose 0.5 percent, or 35 points, to 6,050, a 7.8-point premium to the underlying S&P/ASX 200 index close. The benchmark ended Monday up 0.7 percent.New Zealand's benchmark S&P/NZX 50 index rose...Read More
SAO PAULO, Feb 26 (Reuters) - Brazilian healthcare insurer Notre Dame Interm?(C)dica Participa???ues SA filed on Monday for an initial public offering on the Sao Paulo stock exchange, according to documents filed with the Brazil's securities regulator CVM.The offering will have a primary portion, in which the company will issue new shares, and a secondary portion, in which controlling shareholder...Read More
NEW YORK, Feb 26 (Reuters) - U.S. stocks rose to more than three-week highs on Monday, with major indexes rising over 1 percent, as a decline in Treasury debt yields assuaged investors' concerns about rising interest rates and refocused attention on economic growth.The Dow Jones Industrial Average rose 399.01 points, or 1.58 percent, to 25,709, the S&P 500 gained 32.3 points, or 1.18 percent,...Read More
* Traders await clues from Fed's Powell testimony before Congress* U.S. 10-year yield holds below 4-year peak* Fed's Bullard worry about further U.S. rate increases* U.S. new home sales hit 5-month lows (Updates market action, adds quote)By Richard LeongNEW YORK, Feb 26 (Reuters) - U.S. Treasury yields fell on Monday as traders reduced their bearish bond positions in advance of new Federal Reserve...Read More
WASHINGTON, Feb 26 (Reuters) - The White House said on Monday it was up to China to decide whether to do away with presidential term limits after the country's ruling Communist Party made a proposal on Sunday that would allow President Xi Jinping to stay in office indefinitely."That's a decision for China to make about what's best for their country," White House spokeswoman Sarah Sanders...Read More
* Powell testimony, central banker speeches keep markets edgy* Traders brace for German, Italian political developments (Adds comment, updates table, prices in text)By Gertrude Chavez-DreyfussNEW YORK, Feb 26 (Reuters) - The dollar rose against most currencies, except the euro, in choppy trading on Monday ahead of a slew of U.S. economic data and events this week, including Federal Reserve Chairma...Read More
Gold is also supported by weakness in the US Dollar. The US Federal Reserve is likely to remain upbeat on the outlook for both the economy and inflation. Gold is now trading around $1,335 in New York session, edging up by 0.35% on renewed concern about the US inflation and a weaker US dollar on Monday. Gold rose to1,341earlier on Monday but was sold after the optimistic comments by St. Lou...Read More
STOCKHOLM, Feb 26 (Reuters) - The owners of Latvia's ABLV Bank, accused by U.S. authorities of large-scale money laundering, have decided to liquidate the lender after the European Central Bank said on Saturday it would be wound up, ABLV told Reuters on Monday. Main owners Ernests Bernis and Olegs Fins, who each hold stakes of 43.5 percent, believe liquidation is the best way ensure the protection...Read More
Mobile payment device concern Square Inc (NYSE:SQ) is set to report fourth-quarter earnings after the close on tomorrow. SQ stock has had a stellar year on the charts, picking up over 160%. At last check, shares of the payment concern were trading up 4% at $46.48 -- a mere stone's throw from a fresh record high. What's more, Square stock has ended higher the day after earnings in five of the past...Read More
U.S. stocks have steadily climbed today, as the Dow heads for another huge gain. Among the equities making noise, biotech MiMedx Group Inc (NASDAQ:MDXG) and laser maker Iridex Corporation (NASDAQ:IRIX) stocks are sinking, while airline name JetBlue Airways Corporation (NASDAQ:JBLU) is higher. Here's a closer look at what shares of MDXG, IRIX, and JBLU are reacting to today.Federal Probe Guts MiM...Read More
Steel stocks have been enjoying tailwinds as the Trump administration mulls placing tariffs on imported steel, with Bloomberg reporting the president is considering the stiffest tax possible. This has meant big gains for Steel Dynamics, Inc. (NASDAQ:STLD) and United States Steel Corporation (NYSE:X), and the price action has not been missed on options traders, as volume has stayed very hot in re...Read More