(Reuters) - U.S. stocks opened sharply lower on Tuesday as poor forecasts from retailers for the holiday quarter fed into a market driven lower this week by concerns about demand for iPhones.The Dow Jones Industrial Average .DJI fell 398.76 points, or 1.59 percent, at the open to 24,618.68.The S&P 500 .SPX opened lower by 36.13 points, or 1.34 percent, at 2,654.60. The Nasdaq Composite .I...Read More
Representatives from Chinese manganese alloy smelters will meet this week to discuss silico-manganese tender prices, market sources told Fastmarkets.The meeting is understood to be aimed at keeping the manganese market stable, market sources added. "We want to keep our prices stable so that the market is sustainable for everyone," a silico-manganese producer told Fastmarkets.Others noted that sili...Read More
FRANKFURT (Reuters) - The European Central Bank will take ‘several’ years to normalize policy and wrapping up a 2.6 trillion asset purchase scheme next month is only the first step, Bundesbank President Jens Weidmann said on Tuesday.The ECB plans to end its purchases at the close of the year but said it would keep rates steady at record lows at least through next summer, suggesting tha...Read More
The Tuesday Market Minute Global stocks slide, with tech shares leading the declines, as investors retreat from risk markets amid questions over the fate of U.S. China trade talks and persistent signals of slowing economic growth.Apple shares continue to slump, with German-listed units falling to the lowest level since July, amid multiple reports of tepid iPhone demand, dragging supply-chain sto...Read More
(Reuters) - U.S. stock futures dropped by up to 1 percent on Tuesday as a technology rout in the previous session sparked by concerns over iPhone sales sapped investors’ appetite for high-growth companies.Shares of Apple Inc (AAPL.O) lost 1.4 percent in premarket trading, putting it on course for its seventh decline in the past nine sessions, and around 20 percent down from a peak earlier th...Read More
Turkish steel mills have continued to hold back from making deep-sea scrap purchases due to fear of product outflow from China, sources said on Tuesday November 20.Chinese rebar is widely expected by market participants to be offered in increasing amounts in the near term while its domestic market softens. This will soon affect prices all over the world, including Turkish scrap import prices,...Read More
NEW YORK (Reuters) - The Federal Reserve is pushing ahead with gradual rate-hike plans next month as it marches toward a more normal policy stance that would keep the economy expanding, one of its most influential members said on Monday in the face of growing doubts in financial markets.New York Fed President John Williams, a close ally of Fed Chair Jerome Powell and a permanent voter on monetary...Read More
LONDON (Reuters) - Euro zone money markets no longer fully price in a 10 basis point rate hike from the European Central Bank in 2019, indicating growing investor concern about the economic outlook in the single currency bloc.Money market futures dated to the ECB's December 2019 meeting now price only a 95 percent chance of a rate hike, from a 100 percent chance on Monday. ECBWATCHThis is a substa...Read More
Examining diamond drill core from one of Osprey Gold's projects in Nova Scotia. Source Osprey Gold Development Inc.Osprey Gold Development Inc. [OS-TSXV] was an active trader Tuesday November 20 after the company released assay results from previously unsampled core from its Caribou Gold Project in Nova Scotia.Results released Tuesday include assays form seven holes sampled from four key areas. A...Read More
LONDON (Reuters) - Bitcoin tumbled as much as 10 percent on Tuesday to below $4,500 BTC=BTSP, bringing the world's best-known cryptocurrency's losses to 30 percent within a week as a selloff in digital currencies intensified across the board.Other cryptocurrencies also skidded sharply, with Ethereum's ether losing 10 percent ETH=BTSP and Ripple's XRP XRP=BTSP down 13 percent in a largely sent...Read More
Drilling the Tatogga property in B.C.'s Golden Triangle. Source: GT Gold Corp.GT Gold Corp. [GTT-TSXV; GTGDF-OTC] released assay results from the latest two holes from the Saddle North discovery at its wholly-owned Tatogga property in northwest British Columbia's Golden Triangle area.The shares sank on the news, falling 34.16% or $0.55 to $1.06 on volume of 3.15 million.The company said results fr...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
* China-U.S. trade tension rises ahead of G20 meeting * SPDR Gold Trust holdings rose on Monday (Updates prices)By Sumita LayekBENGALURU, Nov 20 (Reuters) - Gold firmed near a two-weekpeak on Tuesday, as a slide in stock markets offset an uptick inthe dollar, with the metal holding a tight range in light tradeahead of the U.S. Thanksgiving holiday.Spot gold rose 0.1 percent to $1,225.56 per ounce...Read More
LONDON (Reuters) - Bank of England Governor Mark Carney gave his backing to a Brexit deal struck by British Prime Minister Theresa May, saying the alternative of leaving the European Union with no transition could be akin to the 1970s oil shock.“We have emphasized from the start the importance of having some transition between the current arrangements and the ultimate arrangements,” Ca...Read More
BOGOTA (Reuters) - Colombia’s main mining industry group said on Monday it was optimistic a new tax bill that includes a cut to corporate taxes will help attract more foreign investment, allowing companies to boost exploration and output in the coming years.The bill, known as the financing law, proposes a gradual reduction in taxes on businesses to 30 percent by 2022 from the current 35 perc...Read More
Jittery stock markets and ongoing disappointment over United States/China trade developments continued to put either a cap on the base metals - the exception being tin that broke higher at the start of this week - or keep them under pressure, in the likes of nickel and aluminium.The three-month base metals prices on the London Metal Exchange were on divergent paths this morning, Tuesday November 2...Read More
* Euro falls as risk sentiment sours * Yen, Swiss franc both gain on safe-haven bids * Tech share slide, Fed caution had earlier hobbled dollar * Graphic: World FX rates in 2018 (Adds quotes, details, updates prices)By Tommy WilkesLONDON, Nov 20 (Reuters) - The euro fell from a two-weekhigh on Tuesday as a selloff in world stock markets andnervousness about Italian banks fed through to the currenc...Read More
LONDON, Nov 20 (Reuters) - Global primary aluminium output rose to 5.414 million tonnes in October from 5.301 million tonnes in September, data from the International Aluminium Institute (IAI) showed on Tuesday.Estimated Chinese production rose to 3.05 million tonnes in October from 3.01 million tonnes in September, it added.Keywords: IAI PRODUCTION Disclaimer: The views expressed in this article...Read More
MONTREAL (Reuters) - Canada’s Bombardier Inc (BBDb.TO) is the front-runner to win a New Jersey Transit (NJT) rail car contract, two sources familiar with the matter said, in a boost for the plane-and-train-maker’s North American business which has wrestled with delivery delays and has lost orders to rivals.The order for up to 999 multilevel passenger cars, including options, would be o...Read More
Yesterday every sector was down, including most commodities. One sector that bucked the trend was orange juice.As I write this, my wife is home sick with a brutal cold, or maybe it's the flu - who knows? But one thing I had to pick up from Giant along with tomato soup (Campbell's, NYSE: CPB) and Theraflu (GlaxoSmithKline plc, NYSE: GSK) was their fresh-squeezed OJ, which sells for over 10 bucks a...Read More