WASHINGTON (Reuters) - U.S. President Donald Trump will request a package of $15 billion in spending cuts from Congress on Tuesday, including some $7 billion from the Children’s Health Insurance Program championed by Democrats, senior administration officials said on Monday.The proposal comes as the White House and conservative Republicans in the U.S. Congress were edging away from a threat...Read More
(Reuters) - U.S. cable operator Comcast Corp is asking investment banks to increase a bridge financing facility by as much as $60 billion so it can make an all-cash offer for the media assets that Twenty-First Century Fox Inc has agreed to sell to Walt Disney Co for $52 billion, three people familiar with the matter said on Monday.Comcast Chief Executive Brian Roberts only plans to proceed with th...Read More
Teranga GoldCorp. (TSX: TGZ) announces the first drawdown, under the secured developmentfinance facility with Taurus Funds Management Pty Ltd., for construction of itssecond mine - the Wahgnion gold project. The facility totals $165 million, andthe first drawdown was for $70 million, $15 million of which was used to closeout a revolving credit facility with Soci?(C)t?(C) G?(C)n?(C)rale, Teranga sa...Read More
May 8 (Reuters) - Futures for Canada's main stock exchange were little changed on Tuesday, as investors awaited an announcement by U.S. President Donald Trump later in the day on whether the United States will reimpose sanctions on Iran.Trump will announce whether he will pull out of the Iran nuclear deal or stay in and work with European allies who have struggled to persuade him that it has succe...Read More
* Italian yields jump 8 bps with early election possible* Other South European yields higher 5 bps* Strong German data pushes up euro zone yields* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds quotes, additional detail)By Abhinav RamnarayanLONDON, May 8 (Reuters) - Italian government bond yield rose sharply on Tuesday, lifting southern European peers, as the possibility of an earl...Read More
(Reuters) - Oil and gas company Energen Corp (EGN.N) reported higher-than-expected first-quarter profit on Tuesday and raised its production guidance for the year as it seeks to reap the benefits of $70-a-barrel crude.For the year, the company said it now expects annual production in the range of 92,000-99,000 barrels of oil equivalent per day (boe/d) up from the 91,500-98,500 it forecast along wi...Read More
(Reuters) - Valeant Pharmaceuticals International Inc (VRX.TO) (VRX.N) on Tuesday decided to take the name of its best performing optical products unit as part of a turnaround plan and raised its 2018 revenue forecast.Valeant will become Bausch Health Companies Inc from July as Chief Executive Officer Joseph Papa works to restore investor confidence after several investigations into the company&rs...Read More
BERLIN (Reuters) - A stronger-than-expected rebound in German industrial output in March, and a jump in exports in the same month, helped ease concerns on Tuesday that growth in Europe’s biggest economy could have come to a standstill at the start of the year.The Federal Statistics Office said industrial production rose 1.0 percent on the month, the strongest increase since November and abov...Read More
TXT has found support atop two key technical levels Shares of aerospace and security concern Textron Inc. (NYSE:TXT) have been on a tear over the past two years. More recently, the stock gapped almost 7% higher the day after the company's first-quarter earnings beat late last month, and soared to a nearly 10-year high of $65.99 by April 20. And while the shares have pulled back from here, they fou...Read More
(Kitco News)- Gold bounced off the $1,307 support level but the marketsentiment remains on the weak side. The dollar remains bid but traders may beunlikely to be aggressively short gold ahead of President Trump's announcementat 2 p.m. EDT on whether the U.S. will stayin the Iran nuclear deal. The higher oil price is also suggesting thatinflation may be creeping back into the economy, which may ind...Read More
(Kitco News) - Gold pricesare once again weaker in early U.S. trading Tuesday. The yellow metal atpresent is caught in a strangle-hold from an appreciating U.S. dollar indexthat hit a 4.5-month high overnight. June Comex gold futures were last down $3.50an ounce at $1,310.30. July Comex silver was last down $0.01 at $16.485 anounce. Itis critical for the gold market bulls to keep their precious me...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
What would be the impact on gold ifthe U.S. pulls out of the Iran deal? The simple answer is nothing, as gold hasnot benefitted from the talks, threats and possibilities. Today at 2 p.m. EDT, PresidentTrump will announce to the world his decision, which should be that we arepulling out of the deal with Iran.Throughout the talks, oil hasbeen spiking higher while gold has struggled and sold off. Mos...Read More
(Kitco News) - Iamgold Corp. (TSX: IMG; NYSE: IAG) late Mondayreported that its first-quarter profit rose, helped by higher output and goldprices combined with lower costs per ounce.Net earnings were $42.3million, or 9 cents per share, a turnaround from a net loss of $18 million, or4 cents, in the same period a year ago.Excluding special items, adjustedearnings came in at $40.4 million, also 9 cen...Read More
LONDON (Reuters) - The World Gold Council, owner of the world’s largest gold-backed exchange traded fund (ETF), is launching a new fund with a cut-price management fee to fend off rivals with lower charges, a source familiar with the matter told Reuters.The move is a sign that cost competition among gold ETFs is heating up after a price war in the much larger equities ETF sector slashed mana...Read More
The precious metal has been resting heavily on support at $42,000 per kilogramGold prices have been drifting steadily lower in recent months, as traders have lost some of their appetite for "safe haven" investments amid an increasing shift toward diplomacy on major geopolitical issues, including North Korea's denuclearization and the ongoing U.S.-China trade discussions. The COMEX June futures con...Read More
Mr. Joe Campbell reportsTERRAX EXTENDS CRESTAURUM ZONE TO 300 METERS VERTICAL DEPTH, DOUBLING SIZE OF KNOWN MINERALIZED STRUCTURETerrax Minerals Inc. has released assay results from the remaining 11 holes drilled at the Yellowknife City gold project this winter.Four of these holes (1,170 metres) were drilled on the high-grade Crestaurum gold-bearing structure to test whether gold mineralization co...Read More
Shares in base metals producer Nevsun Resources (TSX, NYSEMKT:NSU) skyrocketed on Tuesday after the company's board unanimously rejected a Cdn$1.5-billion (about $1.2bn) unsolicited bid from fellow Canadian miners Lundin Mining and Euro Sun Mining.The suitors had disclosed late on Monday the takeover offer for Vancouver-based Nevsun, noting their disappointment for not having been able to reach a...Read More
On CNBC's "Fast Money Final Trade", Tim Seymour said Amgen, Inc. AMGN, +0.68% is very cheap. He's a buyer of the stock. Brian Kelly wants to buy SPDR Gold Shares GLD, -0.21% Dan Nathan thinks NVIDIA Corporation NVDA, +2.15% is going down. He would take a short position in Market Vectors Semiconductor ETF SMH, +1.42% Guy Adami is a buyer of Halliburton Company HAL, +1.60% (C) 2018 Benzin...Read More
* Market awaits Trump decision on Iran nuclear deal * Spot gold may revisit May 1 low of $1,301.51/oz -technicals (Updates prices, headline; adds comment, second byline, NEWYORK to dateline)By Renita D. Young and Maytaal AngelNEW YORK/LONDON, May 8 (Reuters) - Gold prices were flatfollowing a brief increase on Tuesday after the U.S. dollarbacked down from a new 2018 high as worries hovered that th...Read More