Editor's Note: View Kitco News' full 2018 outlook coverage(Kitco News) - SPDR Gold Shares (NYSE Arca: GLD), the world’s largestgold-backed exchange-traded fund, posted a modest inflow of roughly 15 metrictons during 2017.The figure might look better than it is since the inflow camefrom a low level of overall holdings, pointed out Ryan McKay, commoditystrategist with TD Securities. However, h...Read More
* Oil trades near strongest levels since mid-2015* Casino stocks hit by downbeat Dec. gambling revenue* Walt Disney, Netflix gain after upgrade* Indexes up: Dow 0.25 pct, S&P 0.63 pct, Nasdaq 1.16 pct (Changes comment, updates prices, adds details)By Sruthi ShankarJan 2 (Reuters) - Wall Street's major indexes were higher on the first trading session of the year on Tuesday, driven by technology...Read More
Shares of Ross Stores, Inc. (NASDAQ:ROST) closed out 2017 with a bang, surging 22.3% year-over-year and hitting a record high of $81.48 on Friday, Dec. 29. The retail stock is continuing this momentum into the new year -- last seen trading up 0.7% at $80.80, after Citigroup raised its price target to $85 from $72 and Nomura said the company will be one of the biggest beneficiaries of the GOP tax o...Read More
* Dollar pressured by doubts about Fed rate hike outlook* Euro rises as ECB seen normalizing rate policy* MiFID II introduction weighs on volumes (New throughout, updates prices, market activity, comments and table; new byline, changes dateline; previous LONDON)By Gertrude Chavez-DreyfussNEW YORK, Jan 2 (Reuters) - The dollar sank on Tuesday to its lowest in more than three months, weighed down on...Read More
By Bruno FederowskiSAO PAULO, Jan 2 (Reuters) - Latin American markets started 2018 on Tuesday on a strong footing as solid global economic growth data drove investors to unwind year-end hedges.China's Caixin index of Chinese industry rose to a four-month high of 51.5 in December, confounding forecasts for a decline.The reading pointed to resilience for the world's largest consumer of commodities...Read More
* Ireland first euro zone country to mandate banks in 2018* Dublin planning 14-18 billion euro bond sales this year (Adds details)DUBLIN, Jan 2 (Reuters) - Ireland's debt agency hired a syndicate of banks and brokers on Tuesday to sell a new 10-year bond that a market source said was likely to raise between 3 and 4 billion euros, around a quarter of the country's 2018 funding needs. Ireland has ki...Read More
* ECB's Coeure sees chance bond buys will not be extend* Wall Street gains add upward pressure on bond yields* U.S. to sell $160 bln in T-bills later Tuesday* U.S. Treasuries gained 2.3 pct in 2017 vs 19.5 pct for S&P 500 By Richard LeongNEW YORK, Jan 2 (Reuters) - U.S. Treasury yields rose on Tuesday in line with European government yields after comments from a European Central Bank official...Read More
MUMBAI, Jan 2 (Reuters) - India's gold imports surged 67 percent in 2017 from the previous year to 855 tonnes as jewellers replenished inventory amid a rebound in retail demand, provisional data from precious metals consultancy GFMS showed.The rebound in purchases by India, the world's second-biggest consumer of gold after China, could support global prices, which are already near their highest le...Read More
(Kitco News) - Gold prices continued to trade firmly above the $1,300 level after the release of December’s final manufacturing PMI for the U.S., which was reported to be at the highest level since March 2015.The U.S. manufacturing Purchasing Managers Index for December rose to a reading of 55.1 from November’s 53.9, marking the quickest pace in over two years, research firm IHS Markit...Read More
LONDON, Jan 2 (Reuters) - The following FTSE 100 companies will go ex-dividend on Thursday, after which investors will no longer qualify for the latest dividend payout. According to Reuters calculations at current market prices, the effect ofthe resulting adjustment to prices by market-makers would take 0.84 points offthe index.COMPANY(RIC)DIVIDENDSTOCK OPTION IMPACT (pence)BR LAND 6.02 0.23CO EXP...Read More
(Adds latest prices)JOHANNESBURG, Jan 2 (Reuters) - South Africa's rand was little changed on the first trading day of 2018, giving up earlier gains in late trade after it was buoyed by improved sentiment for emerging currencies and a sluggish dollar. At 1500 GMT, the rand was 0.26 percent softer at 12.4125 per dollar, still within easy striking distance of its 2-1/2-year high of 12.2400.The curr...Read More
Riot Blockchain Inc (NASDAQ:RIOT) is down 3.9% at $27.28, even as bitcoin trades higher. Today's downside comes after CEO John O'Rourke revealed in an SEC filing that he sold 19,583 RIOT shares for $28.45 apiece, and 10,800 shares for $28.90 each. The transaction occurred last Friday, Dec. 29, when RIOT stock closed at $28.40.In the last three months, the shares have nearly quadrupled in value --...Read More
DUBLIN, Jan 2 (Reuters) - Ireland's debt agency mandated dealers on Tuesday to issue a new 10-year bond in a syndicated sale a market source said would likely raise between 3 and 4 billion euros, around a quarter of this year's funding needs. The National Treasury Management Agency (NTMA) said last month it would issue between 14 and 18 billion euros of long-term debt in 2018, including at least o...Read More
* Oil trades near strongest levels since mid-2015* Casino stocks hit by downbeat Dec. gambling revenue* Walt Disney, Netflix gain after upgrade* Indexes up: Dow 0.45 pct, S&P 0.35 pct, Nasdaq 0.31 pct (Updates to open)By Sruthi ShankarJan 2 (Reuters) - Wall Street's main indexes were higher on Tuesday, the first trading day of the year, buoyed by gains in technology and consumer discretionary...Read More
International diamond trading network Rapaport Group released a report that states that, following a better-than-expected holiday season, polished diamond prices stabilized in December 2017.Even though the company's RapNet Diamond Index, known as RAPI, slid 1.7% for 3-carat diamonds in the last month of the year, it edged up 0.3% for 1-carat diamonds, 1.2% for 0.30-carat diamonds, and 0.6% for 0.5...Read More
Online streaming subscription service Netflix, Inc. (NASDAQ:NFLX) is soaring this morning after the stock received an upgrade to "outperform" from "neutral" at Macquarie, along with a price-target raise to $220 from $200. In a note to clients, the brokerage firm also stated that the FAANG stock is "miles ahead" of its streaming competition in terms of original content, and asserted, "Netflix has w...Read More
Pharmaceutical company Johnson & Johnson (NYSE:JNJ) has kicked off the new year in lackluster fashion. The Dow stock was downgraded this morning to "neutral" from "overweight" at J.P. Morgan Securities. The brokerage firm noted that it is still fundamentally bullish on Johnson & Johnson -- evidenced by the fact it kept its price target at $150 -- but said there are more compelling large-cap play...Read More
* Reviewing discretionary spending across all segments* News comes less than two weeks after CEO left* No need for additional equity measures (Recasts, adds context on capex, details)FRANKFURT, Jan 2 (Reuters) - German energy group Innogy is examining potential cost cuts across all parts of its business after its chief executive left in a dispute over the company's strategy.Innogy, which was carve...Read More
TORONTO, Jan 2 (Reuters) - Canada's main stock index opened little changed on Tuesday, helped by gold miners and marijuana companies while financial stocks and energy companies weighed.The Toronto Stock Exchange's S&P/TSX composite index was down 4.51 points, or 0.03 percent, at 16,204.62 shortly after opening in positive territory. (Reporting by Alastair Sharp Editing by Chizu Nomiyama) Disc...Read More
Jan 2 (Reuters) - Wall Street's main indexes opened higher on Tuesday, the first trading day of 2018, signaling stocks were set to extend last year's strong run.The Dow Jones Industrial Average rose 112.93 points, or 0.46 percent, to 24,832.15.The S&P 500 gained 11.3 points, or 0.42265 percent, to 2,684.91.The Nasdaq Composite added 28.66 points, or 0.42 percent, to 6,932.04. (Reporting by Sr...Read More