Implied vols are higher in G10 and emerging markets and should remainunderpinned with plenty of event risk coming up, including ongoing trade woesand many elections, including U.S mid-term. CNH flows mixed as spot stagnates,but vol dip buyers expected . Brexit the main catalyst for GBPoptions, with one-month cable vol posting a new cycle high at 8.6 and riskreversals keeping a strong downside bias...Read More
(Repeats from Friday, no changes to text. Updates chart) ** S&P 500 finishes the week up 0.9 pct even asinvestors mull trade uncertainties** Still, SPX charts suggest keeping seatbelts fastened. This with the DJI also showingsputtering thrust** And although Nasdaq has been on a run, it may beoverheating . This as the market's titans have beenmore like speedboats than supertankers , the NYSEFAN...Read More
** Shares of cloud communications provider Twilio Inc up 2.8 pct at $82.90 premarket ** KeyBanc upgrades stock to "overweight" saying TWLO couldapproach $2 bln in revenue by 2022 ** Brokerage says the key drivers to get to the $2 bln markwould be increasing customer diversification, accelerating ARPUgrowth, consistent usage-based API revenue drivers and large TAM ** TWLO's usage-based pr...Read More
The Fed is expected to raise interest rates later this monthDespite a constant barrage of negative headlines regarding U.S. trade topics, the flattening yield curve, negative seasonality, and the Turkey crisis during the past month, the market seems to have grown numb to the macro news cycle. Instead, market participants have focused on the positive earnings season and upbeat economic data, like t...Read More
(Repeats for wider distribution, no change to headline or text)By Hugh Bronstein and Maximilian HeathBUENOS AIRES, Sept 3 (Reuters) - Argentine farmers may delaywheat sales and plant less corn this year after the governmentannounced a roughly 10 percent export tax on the grains onMonday as part of an austerity program designed to halt a run onthe peso currency, growers and consultants said.The mea...Read More
By Joshua FranklinSept 4 (Reuters) - Chinese online pharmacy JiankePharmaceutical said on Tuesday it raised $130 million in aprivate fundraising round ahead of a planned initial publicoffering (IPO) in the United States next year.The latest fundraising values the company at between $500million and $600 million, a source familiar with the mattersaid, asking not to be identified because the exact te...Read More
** Drug developer's shares surge 66.36 pct to $1.83in premarket trading ** Co announces agreement with United Therapeutics to develop and sell dry powder treprostinil, an experimentaldrug for Pulmonary Arterial Hypertension (PAH) ** PAH is a chronic condition causing abnormally highpressure in the blood vessels running between the heart andlungs** Under the pact, MNKD will receive $45 mln upfront...Read More
SHANGHAI, Sept 4 (Reuters) - Chinese retailer JD.com Inc's stock fell nearly 3 percent in premarket trading onTuesday after the firm's CEO was arrested in the United Stateson suspicion of criminal sexual conduct and later released.Richard Liu, who founded the firm in 1998, was arrested bypolice in the U.S. city of Minneapolis on Friday and releasedthe next day before returning to China. U.S. marke...Read More
LONDON, Sept 4 (Reuters) - British companies' spending ontakeovers of foreign businesses fell to its lowest in nearlyfive years during the three months to June, as Brexit worriesappeared to weigh on firms' appetite to make big investments,official figures showed on Tuesday.British-based businesses spent 1.92 billion pounds ($2.46billion) on acquiring foreign companies, the smallest amountsince the...Read More
The pace of declines for both weak and fundamentally sound emerging-marketcurrencies accelerated this week, partly because of positioning before a U.S.jobs report that's likely to encourage the Fed to raise rates another 25 bps atthe end of the month. It's clear that unlike their counterparts in developedmarkets, emerging-market traders are not as well-prepared for higher rates and tighter liquidi...Read More
* C.bank head sees reasons to hold or raise rates * Key rate now at 7.25 pct * Rate-setting meeting due on Sept. 14 (Adds detail, quotes)By Andrey Ostroukh and Elena FabrichnayaMOSCOW, Sept 4 (Reuters) - Russian central bank GovernorElvira Nabiullina said on Tuesday there were reasons for holdingthe key interest rate or even raising it as soon as next week inthe wake of increased volatility on fin...Read More
By Sandrine BradleyLONDON, Sept 4 (LPC) - Saudi Arabia's sovereign wealth fund,Public Investment Fund (PIF), is set to sign a US$11bnsyndicated loan next week, according to bankers close to thedeal, which will help to fund the kingdom's economictransformation plans.The deal will be the first commercial loan for PIF, which istasked with helping to deliver Saudi Arabia's Vision 2030 reformplan, as t...Read More
Sept 4 (Reuters) - Israel's consumer confidence index rose0.6 points in August after a decline last month that followed arecord high in June, Bank Hapoalim and TNS Teleseker said onTuesday. Aug '18July '18June '18Sept '17 Consumer confidence 142.0 141.4 143.3 137.5 index Present situation index 193.5 192.4 193.5 186.6 Expectations index107.7 107.4 109.9 104.8 * "We believe the rise in the i...Read More
** Barclays downgrades the U.S. wireless carrier to"equal weight" from "overweight", cuts PT to $50 from $56 ** Also cuts AT&T Inc's PT to $31 From $40,maintaining an "equal weight" rating ** Says Verizon's valuation to cap upside potential frompresent levels ** "While we are optimistic about VZ's near term growthtrajectory, we believe this is already reflect...Read More
* Nickel down for five straight sessions * GRAPHIC-2018 asset returns: (Adds closing prices, Siberia copper)By Zandi ShabalalaLONDON, Sept 4 (Reuters) - Nickel hit its weakest sinceJanuary on Tuesday, leading London metals lower as concerns overrising trade tensions between China and the United Statesbenefited the dollar.Benchmark nickel ended down 2.5 percent at $12,470per tonne, having touched i...Read More
* Markets await possible new U.S. tariffs on China this week * Silver hits 2-1/2 year low (Updates prices, headline; adds comment, second byline, NEWYORK to dateline)By Renita D. Young and Maytaal AngelNEW YORK/LONDON, Sept 4 (Reuters) - Gold slipped on Tuesdayas concerns over an escalating trade warbetween the UnitedStates and China battered emerging market currencies andprompted investors to see...Read More
Chaarat Gold Holdings (LON:CGH), the company trying to buy Centerra's Kumtor mine in the Kyrgyz Republic, has increased the mineral resource for the Tulkubash oxide gold deposit at its Chaarat gold project by 46%, based on a new and simplified geologic model.The Central Asia-focused explorer and developer, which has been carrying out an intensive drill campaign at the project this year, said Tul...Read More
* Dollar rise sends euro, yen and emerging market currencieslower * South Africa's rand slumps towards two-year low * Chinese stocks snap five-day losing streak but Europeslips back * Italian bond markets cling to budget optimism * Metals hit by strong dollar but oil climbsBy Marc JonesLONDON, Sept 4 (Reuters) - A rebound in Chinese shares and arally in Italian bonds failed to keep Europe's spirit...Read More
Precious metals miner Tahoe Resources' (TSX:THO) (NYSE:TAHO) troubles with the communities in the countries in which operates seem far from over, especially after Guatemala's highest court confirmed Monday the suspension of the company's mining licence for its Escobal silver mine.The Constitutional Court's ruling ordered the Ministry of Energy and Mines (MEM) to carry out an immediate consultati...Read More
JOHANNESBURG, Sept 4 (Reuters) - South African preciousmetals producer Sibanye-Stillwater said on Tuesday thatit was launching a tender offer worth up to $400 million to buyback some of its bonds.Sibanye, which plans to buy platinum producer Lonminin a deal scheduled to close in the second half of theyear, said the tender offer would allow it to retire around 31percent of its long-term debt. Up to...Read More