Canada's Eldorado Gold (TSX:ELD)(NYSE:EGO) is strengthening its footprint outside Greece, where it has faced ongoing hurdles to advance two major gold projects, by investing $520 million in a mill at its K????lada?? gold mine in Turkey.The project would make of K????lada?? a nine-year, 270,000-ounce-per-annum mine. Currently, it's a heap leach operation, but Eldorado ran into major recovery troub...Read More
LONDON, Oct 26 (Reuters) - Euro zone money markets have pushed back rate hike expectations, and are now only fully pricing in a 10 basis point rate hike from the European Central Bank for December 2019.They had been fully pricing in a hike for October 2019 on Monday.In addition, money market pricing suggests that investors are now only pricing in a 50 percent chance of a 10 basis point rate hike i...Read More
LONDON (Reuters) - Oil prices dropped more than 1 percent on Friday, heading for a third weekly loss after Saudi Arabia warned of oversupply, while a slump in stock markets and concerns about trade clouded the outlook for fuel demand.Brent crude oil LCOc1 fell $1.12 to a low of $75.77 per barrel and was trading around $78.84, down $1.05, by 0950 GMT. The contract is on course for a weekly loss of...Read More
"It will be helpful if they (the Russians) stop interfering in our election...get out of Crimea and the Donbass in Ukraine...stop using illegal Continue...Read More
The US$ index is breaking higher. Its trading at 96.41 as we pen this. A daily close above 96.61 marks a new 52-week high and puts the dollar Continue...Read More
Peter Schiff is an internationally recognized ecoanomist specializing in the foreign equity, currency and gold markets. Mr. made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWeek, Tim...Read More
(Reuters) - U.S. quarterly earnings reports this month were supposed to give investors clarity about the health of Wall Street’s rally this year.Instead, profit reports and forecasts following the most recent three months are giving investors indigestion as companies send unclear messages about the rising cost of goods and labor.“I don’t understand why people are so hesitant to a...Read More
Indian domestic prices for secondary steel billet fell by at least 400 rupees ($5) per tonne this week, in line with a bigger dip in prices for finished products such as rebar, Fastmarkets heard on Friday October 26.The price for secondary billet, mainly produced in induction furnaces, was 33,600-33,800 rupees ($459-462) per tonne ex-mill on Friday. This was down by 400 rupees per tonne from last...Read More
* Bund yields edge lower as stock markets tank again* Money markets push back rate hike expectations to Dec 19* Italian short-dated yields higher ahead of S&P review* Euro zone inflation expectations nearly lowest in a year* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates pricing)By Abhinav RamnarayanLONDON, Oct 26 (Reuters) - German borrowing costs hit a six-week low as pess...Read More
* Nikkei, Topix post biggest weekly drop since early February* Canon falls to lowest level since Feb 2017 on forecast cut* Mazda Motor drops after media report on new NAFTA rulesBy Hideyuki Sano and Ayai TomisawaTOKYO, Oct 26 (Reuters) - Japanese shares posted their biggest weekly loss in more than eight months on growing worries over earnings of domestic firms, with camera maker Canon disappointi...Read More
(Adds detail)FRANKFURT, Oct 26 (Reuters) - Euro zone prices are expectedto continue growing at 1.7 percent per year until 2020 despiteweaker underlying inflation and economic growth, a EuropeanCentral Bank survey showed on Friday.The ECB confirmed a day earlier plans to wind down its 2.6trillion euro ($2.96 trillion) stimulus programme at the end ofthis year and raise interest rates sometime after...Read More
Brazilian slab export prices went up on Friday October 26, amid a stronger focus on trade to the United States and with no deals being made to other destinations.Fastmarkets' assessment of the weekly price of Brazilian slab exports reached $505-515 per tonne fob on Friday, up from $500-510 per tonne fob in the previous week.At least three different cargoes were sold to the US market for December s...Read More
* Japan life insurers' preference for foreign bonds intact * But higher FX hedging costs suppress interest towardsTreasuries * Demand for JGBs still low, but bump up in yields stirsinterest * For individual reports on each insurer, click* Table of the insurers' investment plansBy Shinichi SaoshiroTOKYO, Oct 26 (Reuters) - Japanese life insurers are poisedto buy more foreign bonds in the second hal...Read More
Usiminas, Brazil's largest flat steel producer, focused on the domestic market during the third quarter and achieved its highest steel sales volume since the fourth quarter of 2015, its earnings report shows.Steel shipments rose by 8.96% to 1.11 million tonnes from 1.02 million tonnes a year before, the company reported on Friday October 26. The steelmaker sold 992,000 tonnes to Brazilian customer...Read More
TRONDHEIM, Norway, Oct 26 (Reuters) - Norway's central bankwill maintain its policy of gradual monetary policy tightening,it said on Friday."The outlook and balance of risks imply a gradual increasein the key policy rate," Governor Oeystein Olsen told a businessconference.On Thursday the board of Norges Bank kept rates unchanged at0.75 percent and said a hike would likely take place in t...Read More
Meet the innovative company crushing the competition.Nothing's hotter than this stock right now.Professional sports franchises and celebrities across the globe are pumped about it. Even Justin Bieber and his group are excited. The next wave of giant sportswear companies is going to be based on this new "tech" apparel industry and its potential to reshape both the apparel and technological landscap...Read More
European transaction prices for grade-304 cold-rolled (CR) sheets fell dramatically this week because domestic mills are fighting for market share with imported material, sources said.Fastmarkets' weekly assessment for grade-304 CR sheets was ?,?2,200-2,300 ($2,506-2,620) per tonne delivered on Friday October 26, down by ?,?100 per tonne. https://www.metalbulletin.com/My-price-book.html?price=4361...Read More
The Dow and S&P also racked up big weekly lossesIt was a sharply lower session on Wall Street, with the Dow off more than 500 points at its intraday low. Negative FAANG earnings reactions from Amazon (AMZN) and Alphabet (GOOGL) sparked the heavy selling, and had the S&P 500 flirting with correction territory. While the major benchmarks came off their earlier lows by the close, they all ended the w...Read More
SHANGHAI, Oct 26 (Reuters) - China's yuan hit a fresh22-month low against the dollar on Friday, as aweaker-than-expected central bank fixing ramped up market viewsthat authorities would allow larger declines in the currency.The move lower follows broad dollar strength as the eurofell after the European Central Bank failed to convince marketsthat its rates would rise, while expectations of gradual...Read More
The semiconductor name will report earnings on MondayThe shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) are getting hit by broad-market headwinds today, as chip stocks sell off on a rare revenue miss for Western Digital Corp (NASDAQ:WDC). After bottoming at a 22-month low of $17.45 earlier, TSEM stock was last seen down 0.3% at $18.06.Despite this technical weakness, TSEM options traders are tar...Read More