(Reuters) - CVS Health Corp (CVS.N) said on Tuesday that it expects to close its $69 billion purchase of health insurer Aetna Inc (AET.N) after the Thanksgiving holiday.The pharmacy chain and benefits manager had previously expected the transaction to close by Nov. 22.CVS said in a filing bit.ly/2Kk8PSf it had received approval from 26 of the 28 state departments of insurance and was in the fina...Read More
(Reuters) - Lowe’s Cos Inc said on Tuesday it was looking to shed its retail operations in Mexico and certain non-core U.S. businesses as the country’s second-biggest home improvement chain strives to compete with rivals including Home Depot.Shares of the Mooresville, North Carolina-based company fell 5.3 percent to $86.50 in premarket trading after Lowe’s also reported a smaller...Read More
MELBOURNE (Reuters) - Australia’s unemployment could ease further from the current 6-1/2 year low without putting too much upward pressure on wages, the head of the country’s central bank said on Tuesday.Reserve Bank of Australia (RBA) Governor Philip Lowe noted the jobless rate in the country’s two biggest states - New South Wales and Victoria - was between 4.4 percent and 4.6 p...Read More
BRUSSELS (Reuters) - Greece is likely to beat its fiscal targets, including the primary surplus, for the third year in a row, but needs to continue the reforms it promised as part of the last bailout program, the chairman of euro zone finance ministers said.Speaking at a hearing in the European Parliament’s economic committee, Mario Centeno said the outlook for the Greek economy was positive...Read More
TOKYO (Reuters) - Japan’s Nikkei fell to a three-week low on Tuesday as a drop in Nasdaq shares dragged down Japanese tech names, while Nissan Motor tumbled on news of Chairman Carlos Ghosn’s arrest and dismissal.The Nikkei share average ended 1.1 percent lower to 21,583.12, the lowest closing level since October 31.Nissan Motor Co was the most-traded stock by turnover and tumbled 5.5...Read More
Robert Morris, Vale's sales and marketing director for the base metals business, is retiring from the company at the end of 2018, according to an internal note from the miner to its managers. Brent Rochon, who is vice president for marketing and sales of copper and intermediates, and nickel for Europe and Americas regions, will take on Morris' duties in the interim. Morris has worked for Vale sinc...Read More
Peter KrauthMy recent position on silver was that it had become massively oversold.That was a week ago, when the price of silver dropped from $14.65 to $13.97.We've since learned that money managers almost doubled their net short silver futures position in the previous week. That strongly suggests that speculative shorting of silver from its latest high near $14.80 helped push the metal below $14....Read More
At least nine major copper smelters globally are planning plant maintenance in the first half of 2019, leading to an increase in the availability of copper concentrates in an already well-supplied market.Like most major industrial plants, copper smelters shut for maintenance every two to three years to complete essential repairs on facilities such as furnaces, which are otherwise ar...Read More
Steel traders in Asia have been feverishly short-selling their cargoes in recent weeks due to the bearish sentiment in the Asian market, with back-to-back offers for steel products often accompanied by short-selling offers at a wide discount to mill cargoes.These discounts can reach up to $15 per tonne, which indicate the additional price falls that traders expect when short-selling cargoes. Buyer...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday November 20, with broad risk-off sentiment emerging across global commodity markets amid continued trade tensions and a fresh one-year low in oil futures.Both zinc and lead futures were the worst affected, falling by around 2% over the afternoon, to below their respective support levels at $2,600 p...Read More
The London Metal Exchange is planning to launch a lithium contract in the second quarter of 2019 to meet growing demand from the electric vehicle industry, Fastmarkets learned during Asia Copper Week in Shanghai. The contract, announced as part of the exchange's Strategic Pathway in September 2017, will be settled against an index price, with Fastmarkets MB's lithium spot price index one of those...Read More
Canada's Nevsun Resources (TSX, NYSEMKT:NSU) said Tuesday that Zijin Mining had received approval from Chinese and Canadian authorities for its proposed friendly $1.41 billion-takeover bid of the Vancouver-based miner.Both the go-ahead granted by China's State Administration of Foreign Exchange (SAFE) and the support by the Canadian Investment Canada Act (ICA), said Nevsun, were the final regulat...Read More
The Comex copper price continued lower in in the US morning on Tuesday November 20, with the rising dollar pressuring the entire commodities sector.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 3.25 cents to $2.7665 per lb."We continue to expect a strong rebound in copper prices by the end of 2018 principally because investors are likely to...Read More
* Stock markets fall amid gloomy trade outlook* Investors have pulled large investments out of oil* IEA boss warns oil markets face "unprecedented uncertainty"* U.S. crude stocks likely up for 9th week -poll* U.S. crude oil stocks unexpectedly fall 1.5 mln bbls-API (Adds API data)By Devika Krishna KumarNEW YORK, Nov 20 (Reuters) - Oil prices tumbled more than 6 percent on Tuesday in heav...Read More
* Apple leads global tech stock shakeout* European auto stocks hit on Ghosn arrest* Weak U.S. home builder sentiment hits dollar* Oil falls half a percent on global economic worries* Markets no longer pricing in ECB rate hike in 2019* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Abhinav RamnarayanLONDON, Nov 20 (Reuters) - World stock markets fell on Tuesday as worries over softening...Read More
MUMBAI, Nov 20 (Reuters) - The Reserve Bank of India's decision to allow lenders more time to adhere to additional capital buffer norms under Basel 3 is credit negative for the country's state-run banks, Moody's Investors Service said in a release on Tuesday.The RBI after a nine-hour marathon board meeting announced late Monday that it has extended the timeline for Indian banks to set aside an add...Read More
In the late part of the economic cycle, it is wise to have portfolio exposure to gold.There are various ways to get exposure to gold. The question is, what kind of exposure best fits your portfolio. Also, how much exposure is appropriate?Risk averse investors should look for physical gold investing options, while those who seek volatility can look at miners. Perhaps a combination of both is best.G...Read More
Investing.com - Gold prices were on track for a sixth-straight session of gains on Tuesday as a string of dovish remarks from Federal Reserve policymakers and an equity selloff supported the precious metal.At 9:13 AM ET (14:13 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange edged forward $1.10, or 0.09%, to $1,226.40 a troy ounce.The recent winnin...Read More
In 2016, traders bought all beaten-down gold miner stocks without distinction. Industry investors were giving almost every company a chance. Financing came from every which way.2019 will be different: Knowledgeable gold mining industry investors have learned a lot about various junior gold miner companies since 2016.In the next leg of the rally, industry investors will be more selective. Not all c...Read More
Vancouver-based Canarc Resource (TSX: CCM) just bought the Corral Canyon gold exploration project in northwestern Nevada through the staking of 92 mining claims. The Vancouver-based miner now owns 100% of the project with no underlying royalties.According to Canarc, the 742-hectare project lies along a regionally productive gold trend that includes the past producing high-grade Sleeper gold mine,...Read More