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
(Adds details, background)By Marja NovakLJUBLJANA, Jan 16 (Reuters) - The Slovenian government will have to resist pressure to increase spending if it is to reach its planned budget surplus of 0.4 percent of GDP in 2018, the central bank said on Tuesday.The bank said in a report that even though positive economic forecasts point to a rise in revenues, the government would have to "actively s...Read More
* Citigroup, UnitedHealth jump after Q4 results* GE slides after saying it would take $6.2 bln charge in Q4* General Motors sees profit pickup in 2019* Indexes up: Dow 0.57 pct, S&P 0.28 pct, Nasdaq 0.54 pct (Changes comment, adds details, updates prices)By Sruthi ShankarJan 16 (Reuters) - The Dow eased slightly after hitting the 26,000 mark for the first time on Tuesday, as earnings season go...Read More
By Alasdair ReillyLONDON, Jan 16 (Reuters) - UK manufacturing investment company Melrose is lining up a multi-billion pound loan to back its proposed ?7bn (US$9.63bn) offer for engineering firm GKN , banking sources said.The loan for the enlarged group, which is being arranged by Lloyds and RBC, will finance the cash consideration of around ?1.4bn of the proposed offer and refinance existing deb...Read More
(Kitco News) - Gold will be going higher in 2018, even with the Federal Reserve continuing to tighten its monetary policy, TD Securities said in a report.“Softening USD, inflation and geopolitical risks drive gold into $1,340s territory, lift precious complex— correction in gold not in the cards even as Fed tightens,” said Bart Melek, head of commodity strategy at TD Securities.M...Read More
LONDON (Reuters) - Investors have raised their stock allocations to two-year highs and cut cash positions to five-year lows, with a majority expecting the equity bull run to continue into 2019, a survey by Bank of America Merrill Lynch (BAML) showed on Tuesday.The global survey, which covers 183 participants with $526 billion under management, was conducted from Jan. 5 to 11, when world stocks rec...Read More
* ECB seen sticking to its policy message next week - Reuters* Signs of Merkel's struggle to govern puts euro on back foot* Bitcoin, other cryptocurrencies plunge on crackdown fears (Updates market action, changes dateline, previous LONDON)By Richard LeongNEW YORK, Jan 16 (Reuters) - The euro retreated from a three-year high on Tuesday as investors sold the currency on doubts that the European Cen...Read More
(Adds details)BRUSSELS/MADRID, Jan 16 (Reuters) - More central banks in Europe revealed plans on Tuesday to hold yuan as part of their foreign currency reserves, highlighting the Chinese currency's rise into an elite league of the world's major reserve currencies. Responding to Reuters inquiries placed with central banks across the region, Bank of Spain said it was considering an investment in th...Read More
(Kitco News)- FirstMajestic Silver (NYSE: AG,TSX: FR) reported a drop in silver and silverequivalent production for 2017 as the company saw mostly lower ore grades.Tuesday,the company said that production last year totaled 16.2 million equivalentsilver ounces, down 13% from 2016 production levels. The company added thattotal production was in line with its guidance.The reportsaid that total produ...Read More
Graphic chipmaker Nvidia Corporation (NASDAQ:NVDA) has had an impressive year, racing higher since bottoming out at $95.17 last March. In fact, the stock has managed to pick up more than 118% in the past 12 months, thanks to steady support from its 50-day moving average. The tech stock is surging higher again today, with the shares up 1.5% at $226.32 in early trading -- fresh off a new record high...Read More
The U.S. stock market is continuing its run into uncharted territory today -- with the Dow toppling 26,000 for the first time ever -- following a round of positive earnings reactions. However, it's not only earnings that are lifting stocks today, with e-commerce giant Amazon.com, Inc. (NASDAQ:AMZN) and streaming name Netflix, Inc. (NASDAQ:NFLX) popping on upbeat analyst attention. Here's a close l...Read More
Analysts at Deutsche Bank are calling for higher steel and metal prices over the next year or two, with 2018 in particular likely benefiting from strong demand. The brokerage firm also cited the Trump administration's $1 trillion infrastructure proposal and a potential drop in steel imports as two other bullish drivers. Two names that could benefit, according to Deutsche, are United States Steel C...Read More
* Palladium at record highs after 2017's 56 pct surge* NYMEX palladium net longs also at record levels* GRAPHIC-2018 asset returns: By Jan HarveyLONDON, Jan 16 (Reuters) - Palladium, the hottest property in the precious metals deck last year, is tipped for a record performance in 2018 even among bearish forecasters, but the metal could become a victim of its own success.The prospect of sharply hig...Read More
(Kitco News)- Mining companies struggling to attract investor capitalneed to start thinking outside the box and pay more attention to theirenvironmental footprint, according to one tech mining executive.Kurtis Vanwallegham, CEO of Bio-Mine at #DisruptMining 2017In an interview with Kitco News, Kurtis Vanwallegham, CEOof Bio-Mine, said that mining companies are starting to really focus on theimport...Read More
(Adds Kolomoisky comment, quote from central bank deputy governor, background)By Natalia ZinetsKIEV, Jan 16 (Reuters) - Ukraine's central bank said on Tuesday an investigation into the country's largest lender, PrivatBank, which was taken into state control in 2016, showed it had been used for money-laundering and shady deals over the course of at least a decade.One of the bank's former main shar...Read More
Futures on the Dow Jones Industrial Average (DJI) are well above fair value, putting the blue-chip index within reach of the 26,000 level-- just seven trading days after it toppled 25,000. Boosting the Dow is a positive earnings reaction for UnitedHealth (UNH) -- which is helping to overshadow a pre-market slump for General Electric (GE), with the stock down 3% on news the company will take a $6.2...Read More
JOHANNESBURG, Jan 16 (Reuters) - South Africa's central bank said on Tuesday it had appointed Fundi Tshazibana as the seventh member of its monetary policy committee, and that the former IMF staffer will also act as advisor to the current governors.In a statement, the Reserve Bank said Tshazibana had 17 years of experience in public policy analysis and formulation. She has previously worked at the...Read More
DOHA (Reuters) - Qatar’s central bank will consider the topic of virtual currencies and there may be an opportunity in the future to introduce them in Qatar, central bank governor Sheikh Abdullah bin Saud al-Thani said on Tuesday.Sheikh Abdullah made the remark as he delivered a speech on Qatar’s plans to build a hub for financial technology.Asked about his stance towards bitcoin, Shei...Read More