* Citigroup, UnitedHealth jump after Q4 results* GE slides after saying it would take $6.2 bln charge in Q4* Merck gains on positive Keytruda lung cancer data* Indexes up: Dow 0.59 pct, S&P 0.23 pct, Nasdaq 0.25 pct (Updates to early afternoon)By Sruthi ShankarJan 16 (Reuters) - The Dow Jones Industrial Average raced past the 26,000 mark for the first time on Tuesday as fourth-quarter earnings...Read More
VANCOUVER (Reuters) - Participants at a 20-nation meeting on North Korea said on Tuesday that sanctions pressure must be maintained on Pyongyang to force it to abandon its nuclear weapons program.“We must increase the costs of the regime’s behavior to the point that North Korea must come to the table for credible negotiations,” U.S. Secretary of State Rex Tillerson told the one-d...Read More
Chip stocks are trading higher with the broader stock market today, boosted by a fresh round of bullish brokerage notes for Nvidia (NVDA). Among those rallying with its sector peers is Advanced Micro Devices, Inc. (NASDAQ:AMD), last seen trading up 0.7% at $12.10. However, the shares remain stuck below two key technical levels, and if history is any guide, AMD stock could underperform this year. S...Read More
By Girish GuptaCARACAS, Jan 16 (Reuters) - Advisers to the Venezuelan government are recommending it sell $2.3 billion of its new cryptocurrency, the petro, in a private offering at a discount of up to 60 percent, according to a document reviewed by Reuters.President Nicolas Maduro is pressing ahead with an attempt to capitalize on the success of cryptocurrencies like bitcoin by creating one for V...Read More
ZURICH, Jan 16 (Reuters) - Swiss National Bank Chairman Thomas Jordan said negative interest rates were still needed to tame the Swiss franc, which he said remained "highly valued.""Switzerland has had a strong franc for a long time and it remains highly valued," Jordan told an event in Zurich on Tuesday. (Reporting by John Revill and Angelika Gruber) Disclaimer: The views exp...Read More
NEW YORK, Jan 16 (Reuters) - Hudson River Trading LLC said on Tuesday it agreed to buy Sun Trading parent Sun Holdings LLC in the latest example of consolidation in the high frequency trading industry, which has been in a years-long decline amid low market volatility and rising costs. Terms of the deal between the two closely-held companies were withheld. (Reporting by John McCrank) Disclaimer: T...Read More
(Adds details)ABUJA, Jan 16 (Reuters) - Nigeria expects to raise $700 million from international sources as part of a $3.5 billion in borrowing earmarked in the 2017 spending plan, the Debt Management Office (DMO) said on Tuesday.The DMO gave no details of which sources the government could tap but director general Patience Oniha told Reuters in October the country is talking to the World Bank ab...Read More
(Kitco News)- After animpressive run in 2017, the World Gold Council sees four factors that will continue topush gold prices higher in the new year.In a reportreleased Tuesday, the WGC said that increased market volatility, a rotationinto defensive assets, a growing global middle class and growing markettransparency are all bullish factors that will help drive gold prices higher,after ending 2017...Read More
U.S. stocks have been on a tear in January, with the tech-rich Nasdaq touching yet another all-time high out of the gate today. What's more, we just identified three high-flying tech stocks with options at a bargain: Cognizant Technology Solutions Corp (NASDAQ:CTSH), Seagate Technology PLC (NASDAQ:STX), and Cypress Semiconductor Corporation (NASDAQ:CY). Below, we take a look at how CTSH, STX, and...Read More
Bank earnings are back in focus this week, and financial institution Bank of America Corp (NYSE:BAC) is expected to report its fourth-quarter earnings before the market open tomorrow,Jan. 17. Below, we take a look at how BAC stock has been faring ahead of its highly anticipated report, and how options traders expect the bank shares to react.Bank of America stock has had a decent year, picking up...Read More
Mr.Peter Grosskopf reports SPROTT COMPLETES ACQUISITION OF CENTRAL FUND OF CANADA Sprott Inc. has successfully completed its previously announced acquisition of the common shares of Central Fund of Canada Ltd. (CFCL) and the right to administer and manage CFCL's assets.CFCL's Class A shareholders are now unitholders of the newly created Sprott Physical Gold and Silver Trust. The new trust will beg...Read More
By Ben MartinLONDON, Jan 16 (Reuters) - Collapsed British firm Carillion, which has come under political fire for paying dividends while racking up big debts and a pension deficit, has handed more than $1 billion to shareholders since it was created 19 years ago, a Reuters analysis shows.The construction company raised its payout to shareholders every year, taking its dividends from 4 pence-a-shar...Read More
(Updates prices, adds comment)By Jemima Kelly and Gertrude Chavez-DreyfussLONDON/NEW YORK, Jan 16 (Reuters) - Bitcoin slid as much as 18 percent on Tuesday to a four-week low, as worries about a regulatory crackdown on the market spread after reports suggested it was still possible that South Korea could ban trading in cryptocurrencies.Bitcoin's slide triggered a selloff across the broader crypto...Read More
The Dow Jones Industrial Average (DJI) burst through the 26,000 level for the first time ever earlier to trade at fresh record highs -- and if the index closes above this mark tonight, it will be the fastest jump between 1,000-point milestones in history. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) have hit record highs, as well, thanks to a strong start to fourth-quarter earnings season a...Read More
* Results cement Merck's lead in first-line lung cancer market* Data increases chances of European approval -analysts* Merck shares jump 6 percent* Roche, Bristol-Myers, AstraZeneca fall (Adds background, updates share price)By Tamara Mathias and Michael ErmanJan 16 (Reuters) - Positive lung cancer results for Merck & Co Inc's blockbuster drug Keytruda assuaged investor concerns aboutdelays in...Read More
FRANKFURT, Jan 16 (Reuters) - It would be "appropriate" for the European Central Bank to stop its bond purchases, due to run at least until September, this year, Germany's representative on the bank's policymaking body said in an interview to be published on Wednesday."I would hold that for appropriate from today's point of view," Bundesbank's head Jens Weidmann told the Frankf...Read More
Mr. Walter Coles reportsSKEENA WELCOMES NEW VICE PRESIDENT OF EXPLORATIONSkeena Resources Ltd. has appointed Paul Geddes as Skeena's new vice-president of exploration, effective March 1, 2018. Mr. Geddes has more than 20 years of exploration and resource development experience in precious metals and base metals with a focus on economic geology. His career ranges from greenfield to brownfield explo...Read More
ABUJA, Jan 16 (Reuters) - Nigeria expects to raise $700 million from multilateral sources, part of a $3.5 billion in borrowing earmarked in the 2017 spending plan, the Debt Management Office (DMO) said on Tuesday.The government raised $2.8 billion in the international market last year, selling $2.5 billion in Eurobonds in November and another $300 million via Diaspora bonds earlier. (Reporting by...Read More
* Wall Street advances to push Dow over 26,000* Dollar steadies after 4-day slump* ECB signals pull euro from 3-year high (Updates with U.S. market open, changes dateline; previous LONDON)By Chuck MikolajczakNEW YORK, Jan 16 (Reuters) - World stock markets advanced on Tuesday, with investors on Wall Street pushing the Dow index past the 26,000 threshold, while the U.S. dollar strengthened after fo...Read More
By Ben MartinLONDON, Jan 16 (Reuters) - City Developments Limited (CDL) said on Tuesday that it would not extend the offer period for its bid for Millennium & Copthorne Hotels (M&C) beyond 1300 GMT on Jan. 26.The Singaporean company is M&C's majority shareholder and has offered to buy out minority investors for 620 pence a share.CDL said in a statement that it was not extending its off...Read More