The media company reported first-quarter earnings and revenue that beat analysts' expectations Shares of entertainment giant Fox Corp (NASDAQ:FOXA) are up in early trading, after the firm announced a first-quarter earnings beat, as well as year-over-year revenue growth that came in higher than analysts' estimates. The media concern's earnings report marks its first as a standalone company, after T...Read More
When the London Metal Exchange amended its policies related to its physical delivery network a few years ago, it overlooked one key thing. The issue centers on LME's linked load-in/load-out (LILO) rule, which operates by linking the amount of metal a warehouse loads in to the amount it is obligated to load out for warehouses that have queues of over 50 days.The rule changes were part of package of...Read More
INTC is staring at its fourth straight loss Intel Corporation (NASDAQ:INTC) had an analyst day to forget yesterday, after the chip name forecast modest profit growth over the next three years. The gloomy forecast comes less than two weeks after INTC gapped lower after the company cut its 2019 revenue forecast to $69 billion from $71 billion.This has been followed by a downgrade to "market perf...Read More
Mauricio Carrillo12 hours ago (May 09, 2019 12:30 PM GMT)Gold Recovers After Rejecting 1,290, Palladium Down to 4-Month LowsGold is trading positive on Thursday as the pair found support at the 1,280 area following a rejection at 1,290 resistance on Wednesday. Risk aversion is still dominating the market amid the trade conflict between China and the United States.Palladium is trading negative for...Read More
Berenberg is targeting a nearly 20% slide for one retailerWedbush downgraded Abercrombie & Fitch Co. (NYSE:ANF) to "underperform" from "neutral," saying the retail stock is priced to "perfection." The brokerage firm also said it expects "measured guidance" when the clothing retailer reports earnings ahead of the open on Wednesday, May 29, as "data shows a sharp increase in discounting as the drive...Read More
Most analysts are already bullish on HOME stockAt Home Group Inc (NYSE:HOME) received new coverage from Berenberg this morning, with the brokerage firm issuing a "buy" recommendation and $30 price target. HOME shares were last seen trading at $22.81 after gaining ground from their year-to-date low a month ago, helped by reports that the home furnishing company is exploring a possible sale. On a y...Read More
The S&P and Nasdaq are on track for a fourth straight loss Despite eking out a win yesterday, Dow Jones Industrial Average (DJI) futures are pointed lower, withtrade tensions reignited following President Donald Trump's comments at a Florida rally Wednesday evening. Specifically, he said China "broke the deal," and "they can't do that, so they'll be paying." This, as Chinese Vice Premier Liu He he...Read More
Published 23 Hours AgoUpdated6 Hours AgoReuters ReutersAn amphora filled with ancient gold Roman coins found in the Cressoni theatre complex is seen in Como Italy, September 5, 2018. Gold prices rose on Thursday, supported by a weaker dollar and as investors sought safe-haven assets after U.S. President Donald Trump warned a trade deal with China was in danger, sending global stocks lower....Read More
Aluminium traders in Europe have been switching business to the Italian port of Trieste in the past month, due to high stock levels leading to opportunistic trading. Market sources told Fastmarkets that the port is ideal for sending material into neighboring Central and Eastern Europe, with trucking costs relatively low. Stock levels in Italy have been rising since the start of the year, with most...Read More
Investing.com - Gold prices edged up on Thursday in Asia as traders nervously await the start of two-day trade talks in Washington later in the day to see if Chinese negotiators could convince the White House to back down on a possible tariff hike on Chinese imports.Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, were up 0.1% at $1,282.65.Gold's ri...Read More
The Chinese steel market is likely to be caught between the poles of production cuts in Tangshan and bearish sentiment arising from a threat of higher import tariffs in the United States in May.As such, market participants are expecting steel prices to experience some short-term fluctuation, albeit in a narrow range."Spot prices in the coming weeks will depend on whether Tangshan strictly implemen...Read More
Lead's three-month price on the London Metal Exchange had tumbled by 2.5% by the close of trading on Thursday May 9, reaching its lowest level since August 2016 at an intraday low of $1,830.50 per tonne.Three-month lead prices were down by just under 10% since late-February, when prices last exceeded $2,000 per tonne. The price of lead spent most of 2018 above that threshold level, and while LME s...Read More
Comex copper prices failed to recover on Thursday May 9 morning in the United States amid persistent worries over the Sino-US trade talks.The copper price for July settlement on the Comex division of the New York Mercantile Exchange tumbled 3.70 cents to $2.7375 per lb"The intense selling pressure in the copper market since the start of May is...Read More
Iron ore prices were generally little changed on Thursday May 9, while the low-alumina Yandi fines traded actively at stronger prices.MB 62% Fe Iron Ore Index: $95.38 per tonne cfr Qingdao, down $0.19 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.06 per tonne cfr Qingdao, down $0.19 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $98.23 per tonne cfr Qingdao, down $0.06 per tonne. MB 58% Fe...Read More
Canada's ZEN Graphene Solutions (TSXV: ZEN) this week received a $1 million grant aimed at accelerating its graphene-enhanced concrete research and development project.In a press release, the company said the grant will potentially help its experts achieve the goal of providing cement-based composite products to the Ontario market by early 2020.ZEN management says the goal is to provide significan...Read More
Turkish long steel export prices have fallen further on the back of sluggish demand in the country's major markets, sources said on Thursday May 9.Turkish steel producers reduced their rebar offer prices by another $5 per tonne to $470-480 per tonne fob on an actual-weight basis, while bids came in at $460 per tonne or lower, according to market participants.Fastmarkets' weekly price...Read More
Domestic rebar and wire rod prices in Turkey have continued to increase in response to the weakening of the country's lira, while demand for the products was still very sluggish, sources said on Thursday May 9.Fastmarkets' weekly price assessment on Thursday for domestic rebar in Turkey was TRY3,330-3,420 ($539-553) per tonne ex-works, including 18% VAT. This was up from the TRY3,300-3,350 per ton...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday May 9 that are worth another look.Aluminium traders in Europe have been switching business to the Italian port of Trieste in the past month, due to high stock levels leading to opportunistic trading. Market sources told Fastmarkets that the port is ideal for sending material into neighboring Central and Eastern Europe, with tru...Read More
Brazilian copper products manufacturer Termomecanica has decided to invest most of its budget for 2019-21 in the expansion of its aluminium division, after an increase in sales of the newly processed metal, according to a press statement on Friday May 3.Capital expenditures were expected to be 80 million Reais ($20 million) over the three years, with the aluminium sector receiving 69% of the total...Read More
Vancouver- based junior Forum Energy Metals' (CVE:FMC) stock exploded 75% Thursday morning, after it was announced the company had signed an option agreement with Rio Tinto Exploration Canada (RTEC) to earn an interest in the Janice Lake property in north-central Saskatchewan.Janice Lake is about 55km southeast of Key Lake Saskatchewan, and has geologic features that are analogous to the gian...Read More