(Adds details on sector moves, most traded stocks; updates prices)TORONTO, Feb 26 (Reuters) - Canada's main stock index rose on Monday and reached a three-week high, as gains in prices of commodities such as gold and silver boosted share prices of mining companies. * At 10:01 AM ET (15:01 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 23.69 points, or 0.15 percent, to 15,662....Read More
FRANKFURT, Feb 26 (Reuters) - Euro zone growth is robust but slack in the economy may be bigger than estimated, slowing the rise of inflation, European Central Bank President Mario Draghi said on Monday."Given the uncertainty surrounding the measurement of economic slack, the true amount may be larger than estimated, which could slow down the emergence of price pressures," Draghi told th...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.Updati...Read More
General Electric Company (NYSE:GE) is in the spotlight today, after the company said it has nominated three new candidates to its board of directors and a Securities and Exchange Commission (SEC) filing on Friday revealed the industrial conglomerate will restate earnings. Warren Buffett also chimed in on GE in his annual letter to shareholders, and against this busy backdrop, the shares have swung...Read More
TORONTO, Feb 26 (Reuters) - Canada's main stock index climbed to a three-week high on Monday as financial and materials companies led broad-based gains.The Toronto Stock Exchange's S&P/TSX composite index rose 42.63 points, or 0.27 percent, to 15,681.08, shortly after the open. All of the index's 10 main groups were higher. (Reporting by Fergal Smith Editing by Chizu Nomiyama) Disclaimer: The...Read More
(Adds background, inflation details)MEXICO CITY, Feb 26 (Reuters) - Mexican retail sales fell for the second month in a row in December, dropping 0.5 percent from November, the national statistics agency said on Monday.Sales slid 2.0 percent in December from the same month a year earlier, the fifth such decline in five months. It was the biggest annualized drop in sales for any month since March 2...Read More
DUBAI, Feb 26 (Reuters) - Bank Muscat , Oman's largest lender, has picked banks including HSBC, Bank ABC and First Abu Dhabi Bank to arrange a dollar-denominated bond issue, sources familiar with the matter said on Monday.The bank last year raised a $525 million syndicated loan, which was coordinated by Bank ABC and National Bank of Abu Dhabi, the lender recently merged to create First Abu Dhabi B...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Analysts at Citigroup, in its latest note to clients, upped the forecasts for gold prices for this year, citing rising inflationary pressures and weaker US dollar among other key factors behind the upward revision. Key Points: 2018 gold forecast raised by 7% to $1,355/oz; while noting that their 6-12 months price target is $1,385, with risks skewed to the upside. "Higher inflation, solid hedg...Read More
The following is a reprint of the market commentary from the March 2018 edition of The Option Advisor, published on February 23. For more information, or to subscribe to The Option Advisor -- featuring 10 new option trades each month -- visit our online store.Ask the average trader to find the culprit behind the recent stomach-churning sell-offs in the stock market, and they're quite likely to...Read More
Shares in Condor Gold (LON:CNR) (TSX:COG) jumped more than 5% in London on Monday after the Nicaragua-focused miner submitted an amended Environmental and Social Impact Assessment (ESIA) for a processing plant at its India gold project, which eliminates the need to resettle about 1,100 people.The new evaluation, part of the company's application for an environmental permit, includes a redesigne...Read More
Shares in Condor Gold (LON:CNR) (TSX:COG) jumped more than 5% in London on Monday after the Nicaragua-focused miner submitted an amended Environmental and Social Impact Assessment (ESIA) for a processing plant at its India gold project, which eliminates the need to resettle about 1,100 people.The new evaluation, part of the company's application for an environmental permit, includes a redesigne...Read More
Stock futures are pointed comfortably higher this morning, after a strong close last Friday from the major indexes translated into weekly wins. The Dow Jones Industrial Average (DJI) is signaling a triple-digit gain, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also higher as bond yields continue to cool off. The Fed will stay in focus this week, with two central bankers tak...Read More
Semiconductor stocks last week found renewed strength thanks to major M&A buzz. One name in particular that remained hot was Dow component Intel Corporation (NASDAQ:INTC), with the shares rallying 4.2% on Friday alone. INTC stock is pointed another 0.9% higher this morning, following a bigprice-target hike. Analysts are hardly alone in their optimism, considering options traders have been upping t...Read More
HOLLYWOOD, Florida, Feb 26 (Reuters) - Several parties are interested in buying Freeport-McMoRan Inc's cobalt project in the Democratic Republic of Congo but the purchase price would not be very impactful for the miner, Freeport's chief executive said.As a result, it is looking at other options for the asset, including possibly a joint venture to develop the large cobalt project, CEO Richard Adker...Read More
Hecla Mining Co. (NYSE: HL) says it entered into an agreementwith Excellon Resources Inc. (TSX: EXN) in which sulphide ore from SanSebastian in Mexico would be trucked 26 miles to Excellon’s Miguel Auzaflotation mill facility for processing. Under the deal, Excellon will provide440 tons per day of milling capacity to Hecla, with the mill to eventually beupgraded to include a copper flotation...Read More
By Huw JonesLONDON, Feb 26 (Reuters) - The European Union stands ready to regulate crypto-currencies if risks from the sector are not tackled at the global level, the bloc's financial services chief said on Monday.A global investment craze over bitcoin and other virtual currencies in the last year has seen wild gyrations in their valuations, making fortunes for some investors while others have los...Read More
"... whereas the SPX was coming off long-term support from its 200-day moving average and the VIX was situated just below potential resistance from half its 2018 high and double last year's peak, these two indexes now come into this week nearer potential resistance and support, respectively."For instance, the SPX high last week was around the half-century mark of 2,750, which coincides with its 20...Read More
LONDON, Feb 26 (Reuters) - Goldman Sachs-backed payments company Circle has acquired U.S. cryptocurrency exchange Poloniex, Circle said on Monday, in an effort to cement its position as one of the leading companies in the world of blockchain technology. "We're proud to announce that Circle has extended its commitment to a new vision for global finance by acquiring Poloniex, a leading token ex...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More