The People's Bank of China has allowed the yuan to depreciate to a 10-year low against the dollar. A cheaper renminbi helps Chinese products mitigate the losses Continue...Read More
LONDON (Reuters) - European shares ended a choppy session lower on Tuesday, failing to benefit from a positive open on Wall Street as they buckled under the weight of disappointing earnings and data showing the euro zone economy grew less than expected in the third quarter.The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 18, 2018. REUTERS/St...Read More
Chaarat Gold Holdings (LON:CGH), the company that tried buying Centerra's Kumtor mine in the Kyrgyz Republic, has agreed to acquire Kapan gold mine in Armenia from Polymetal, one of Russia's largest gold and silver producers.The $55 million deal is part of Chaarat's intention of becoming a major regional player in Central Asia, with an annual production of 1 million ounces, which it aims to rea...Read More
Volcker openly criticizes his Fed successors over inflation targeting. He is correct yet he did not go far enough.Continue...Read More
The Turkish deep-sea scrap market was quiet on Tuesday October 30 with the country's steel mills staying out of the market due to the firm prices on offer, sources said.The mills have booked a number of cargoes over the past week, pushing prices upward.The latest deals put the price for HMS 1&2 (80:20) from the Baltic Sea region at $335 per tonne cfr.But...Read More
Prospect generator Silver Range Resources (TSX-V:SNG) announced today that it has completed a fall reconnaissance program in Nevada and staked two new high-grade gold prospects.The first site is the century-old Loner Property located in Pershing County, 35 kms south of Winnemucca in the Grass Valley. "Claims cover high grade low sulphidation epithermal veins first discovered in 1906 and mined on a...Read More
MEXICO CITY (Reuters) - Mexico’s economy rebounded in the third quarter, official data showed on Tuesday, helped by stronger industrial output and a jump in services that reflected a surge in consumer confidence in the wake of elections.The economy grew 0.9 percent in seasonally adjusted terms in the third quarter, bouncing back from a 0.2 percent contraction in the previous three-month peri...Read More
Steve Palmer, founding partner, President and Chief Investment Officer of AlphaNorth Asset Management, talks with Streetwise Reports about several small-cap companies from three sectors that he has been following. Streetwise Reports: Steve, thanks for joining us today. Let's start with some of the trends that you see in the market that would be useful for our investors to know about.Steve Palmer:...Read More
Turkish domestic scrap prices have increased over the past week due to tight supply and increasing costs for imported scrap, sources said on Tuesday October 30.Fastmarkets' weekly price assessment for auto bundle (DKP grade) ferrous scrap was TRY1,830-1,940 ($329-348) per tonne delivered on Tuesday, narrowing upward from last week's TRY1,770-1,940 per tonne.Long steel mill ID?? increased...Read More
Prices for some Australian fines continued to strengthen on Tuesday October 30, especially at Chinese ports, amid supply tightness.MB 62% Fe Iron Ore Index: $76.71 per tonne cfr Qingdao, up $0.23 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.74 per tonne cfr Qingdao, up $0.23 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $80.17 per tonne cfr Qingdao, down $0.06 per tonne.MB 58% Fe Premium I...Read More
MILAN/AMSTERDAM (Reuters) - Dutch bank ING Groep NV (INGA.AS) plans to sell its remaining Italian real estate leasing portfolio to Goldman Sachs (GS.N) as it continues to cut leasing activities outside its home markets, a document reviewed by Reuters showed.A letter ING sent to unions in Italy said the group expected to sign the deal by early December and close it in the first quarter of next year...Read More
(Reuters) - Apple Inc (AAPL.O) refreshed some of its lower-profile products at a New York event on Tuesday, adding iPhone features like facial recognition to the iPad Pro and faster processors and better displays to some Mac computers that have not had a major update in years.The Cupertino, California, company introduced new versions of the iPad Pro, its higher-end tablet that competes with Micros...Read More
CIS export slab prices continued to trend downward in the week ended Monday October 29, because there was no support in most of the customers' markets.Recent offers from Russsia's major slab producer were heard at $465 per tonne fob Black Sea.Customers in Turkey were ready to pay around $470 per tonne cfr for CIS-origin slab, which would be equivalent to $450-455 per tonne fob Black Sea.Meanwhile,...Read More
(Reuters) - Under Armour Inc’s (UA.N) (UAA.N) shares surged 25 percent on Tuesday after the sportswear maker beat quarterly earnings estimates and raised its full-year profit forecast as it kept costs lower and offered fewer discounts.Under Armour has been striving to regain momentum after a tough couple of years when it lost out to bigger rivals Nike Inc (NKE.N) and Adidas AG (ADSGn.DE). Sw...Read More
OSLO (Reuters) - British citizens already living in Norway and Norwegian citizens living in Britain will have the right to remain residents, even in case of a no-deal Brexit, the prime ministers of Britain and Norway said on Tuesday.“Prime Minister May and I agreed that Norway and UK will put in place a comprehensive citizens rights’ agreement,” said Erna Solberg, prime minister...Read More
Prices for rebar imported into the United Arab Emirates decreased in the week to Tuesday October 30 with demand remaining weak.The billet import market was also slow because the mills in the UAE have enough billet in stock to last for more than two months, sources told Fastmarkets.Domestic rebarLocal producers were still offering rebar at 2,016 dirhams ($549) per tonne ex-works this week.And Fastm...Read More
BERLIN (Reuters) - German Chancellor Angela Merkel hosted African leaders on Tuesday, pledging a new development fund to tackle underdevelopment on the continent that has helped to spur mass migration, shaping the later years of her long premiership.Merkel announced on Monday she would retire from politics by 2021, sending shockwaves across Europe and starting a race to succeed her.She needs the C...Read More
ROME (Reuters) - Italy’s economy stagnated in the third quarter, and Prime Minister Giuseppe Conte said the zero growth justified Rome’s expansionary 2019 budget which the European Commission has rejected because it breaks EU rules.Gross domestic product was unchanged between July and September, following a 0.2 percent rise in the second quarter, and was up just 0.8 percent on an annua...Read More
China's domestic rebar prices strengthened on Tuesday October 30 on positive sentiment generated by rising futures.Domestic Eastern China (Shanghai): 4,670-4,700 yuan ($671-675) per tonne, up 20 yuan per tonneNorthern China (Beijing): 4,450-4,480 yuan per tonne, up 30-40 yuan per tonneThe January rebar contract rose to a high of 4,206 yuan per tonne in the afternoon before retreating afterward, wh...Read More
(Reuters) - Coca-Cola Co’s quarterly revenue and profit beat analysts’ estimates on Tuesday, as investments to cater to changing consumer tastes paid off with higher sales of its sugar-free sodas and premium waters.The world’s biggest beverage maker, like rival PepsiCo Inc, has been building up a portfolio of non-carbonated drinks and also doubling down on its investments in enha...Read More