Silver and gold continue to rally.Odd trading occurred on Friday.The EU has been cut loose by Trump and will not likely stand.The anti-dollar rally will likely continue this week.Silver (NYSEARCA:SLV) is on a tear. It has retraced more than half of a brutal sell-off that began in mid-April which saw more than $2.60 shaved off the price. That sell-off cut short a rally that looked strong enough to...Read More
* Former FBI director to testify before Congress on Thursday* UK election outcome, ECB meeting also on same day* Oil falls further below $50 as Mideast rift weighs* Indexes down: Dow 0.22 pct, S&P 0.24 pct, Nasdaq 0.20 pct (Updates to open)By Tanya AgrawalJune 6 (Reuters) - U.S. stocks opened lower on Tuesday as investors shunned riskier assets ahead of what is expected to be a busy Thursday, when...Read More
TORONTO, June 6 (Reuters) - Canada's main stock index fell on Tuesday, tracking global market sentiment, with financials and energy stocks leading the index lower.The Toronto Stock Exchange's S&P/TSX composite index fell 36.69 points, or 0.24 percent, to 15,373.09 shortly after the open.Seven of the index's 10 key sectors were in the red, with materials, which rallied on surging gold prices, among...Read More
By Huw JonesLONDON, June 6 (Reuters) - The collapse of Deutsche Boerse and London Stock Exchange's attempt to create a superbourse has left exchanges focusing on low key, incremental acquisitions, top bourse officials said on Tuesday.The third attempt to link up London and Frankfurt ended in March after it faced opposition from European Union competition regulators, and from German officials who o...Read More
Stock futures moved lower on Tuesday morning as investors awaited clarity on a number of market-moving events later in the week. S&P 500 futures were down 0.3%, Dow Jones Industrial Average futures slid 0.24%, and Nasdaq futures declined 0.22%. Wall Street wasn't able to extend a record-breaking streak into a third session on Monday as a terror attack in London and lower oil prices teamed...Read More
Citi Researchsees precious metals peaking in the current quarter. "Reluctant to pick upslack in the market, investor anxiety suggests further headwinds persist into3Q 17," the bank says. "Multi-year low price volatility for both gold andsilver reinforce limited opportunity for investor participation and suggestslittle deviation from the current trend." The bank says the bid for gold hasremained in...Read More
* Exploration budgets under strain, harder to find new reserves* Commodity needs of China are changing as economy matures (Adds detail, context)LONDON, June 6 (Reuters) - Rio Tintoand China Minmetals Corp on Tuesday signed an outline deal on collaboration in mineral exploration, saying the partnership would position it to find the reserves needed for today's economy.Major miners have been seeking...Read More
(Kitco News) - Gold prices aresolidly higher and hit a six-week high in early U.S. trading Tuesday. Pricesare now within easy striking distance of the key $1,300.00 mark. Silver pricesare at a five-week high and are in a near-term uptrend. August Comex gold waslast up $10.70 an ounce at $1,293.30. JulyComex silver was last up $0.084 at$17.665 an ounce. There is a bitof risk aversion in the marketp...Read More
(Kitco News) -Iamgold Corp. (NYSE: IAG;TSX: IMG) and Japan's Sumitomo Metal Mining Co., Ltd. have entered into a jointventure to develop the C??t?(C) gold project in Ontario, the companies reported late Monday.Iamgold also announcedwhat it termed "positive results" from a prefeasibility study for the project,which clears the way to initiate a feasibility study and to support thepermitting proc...Read More
MUMBAI, June 6 (Reuters) - Three Indian farmers were shot dead on Tuesday at a protest in the central state of Madhya Pradesh, according to news reports, marking an escalation of violence as a rural strike demanding debt relief spread.The farmers died after being shot during a protest in Mandsaur, according to reports that quoted witnesses as saying they had been shot by police.A state police spok...Read More
LONDON, June 6 (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 11.7 points offthe index.COMPANY (RIC) DIVIDEND STOCK IMPACT (pence)OPTIONAssociated British Fo...Read More
(Corrects links)June 6 (Reuters) - South Korean and Hong Kong stocks led the Asia-Pacific region in May with gains of 6.44 percent and 4.25 percent, respectively. Buoyed by Moon Jae-in's presidential election win in May and inflows of near $8 billion this year, South Korean equities surged 26.35 percent year-to-date in dollar terms, followed by Indian equities which rose 24.81 percent in the same...Read More
By Chris ThomasJune 6 (Reuters) - Philippine shares fell on Tuesday, dragged down by losses in index heavyweights SM Investments Corp and SM Prime Holdings , while Malaysian shares extended gains into a third session to close at a two-year high.Broader Asian markets were subdued as escalating tensions in the Middle East, the impending testimony of the former FBI director, British elections and a E...Read More
DUBLIN, June 6 (Reuters) - Ireland will seek to raise 1 billion euros in a dual bond auction on Thursday that, if successful, will have covered its minimum funding needs for the year in less than six months. Ireland will raise the debt through the sale of nine- and 28-year bonds, the country's debt agency said on Tuesday, further replenishing the scarce pool of Irish debt eligible for the European...Read More
HONG KONG, June 6 (Reuters) - Trading in shares of AAC Technologies will resume on Wednesday, nearly three weeks after the Apple Inc supplier sought a suspension when its stock fell following a short-seller report that accused it of dubious accounting. Shenzhen-based AAC Technologies, a maker of miniaturised acoustic components including speaker boxes, speakers, receivers and microphones, reiterat...Read More
MILAN, June 6 (Reuters) - Standard & Poor's rating on Italian troubled lender Veneto Banca's debt would be in the "CCC" region rather than the actual "B" level if it did not take into account the potential for state aid, S&P analyst Mirko Sanna said on Tuesday."Veneto Banca has a negative outlook and a 'B' rating that takes into account potential state support. Without that support the rating toda...Read More
LONDON, June 6 (Reuters) - Royal Bank of Scotland has reached an out-of-court deal to settle a costly and embarrassing lawsuit alleging it misled investors during a 12 billion pound ($16 billion) cash call launched just before its near collapse in 2008, sources said.Sources familiar with the situation said a majority of shareholders in the group look set to accept an offer after days of intense ta...Read More
(Adds dealer's comment, details)ZAGREB, June 6 (Reuters) - Croatia's central bank said on Tuesday it had bought 188 million euros ($211 million) from commercial banks, intervening to ease firming pressures on the kuna currency.It bought the euros in an auction at an average rate of 7.4163 kuna per euro.The kuna was quoted at 7.4110 at 0950 GMT, down from 7.3810 before the intervention.It is the fi...Read More
JOHANNESBURG, June 6 (Reuters) - South Africa's new mining charter, which sets industry targets for black ownership and participation in the sector, will be gazetted and become law next week, Mineral Resources Minister Mosebenzi Zwane said on Tuesday.The mining industry has complained that it has not been consulted enough about the revisions and that South Africa's mining industry is losing invest...Read More
(Adds more details, quotes, rand)PRETORIA, June 6 (Reuters) - South Africa has entered recession for the first time in eight years, data from Statistics South Africa showed on Tuesday, after the economy contracted in the first quarter, led by weak manufacturing and trade.The economy contracted by 0.7 percent in the first three months of the year after shrinking by 0.3 percent in the fourth quarte...Read More