* Graphic: World FX rates in 2018* Graphic: Trade-weighted sterling since Brexit voteLONDON, Oct 30 (Reuters) - Sterling languished at a ten-weeklow on Tuesday as concern about Britain's departure from the EUled investors to largely ignore hopes of an end to austerityraised by Britain's finance minister Philip Hammond.The pound has weakened 4 percent since September as tradersfret over lack of pro...Read More
* Underlying profits rise to $3.8 billion * Nine-month production rises thanks to field start-ups * BHP deal to complete on Wednesday(Adds CFO, analyst comment, details)By Ron Bousso and Shadia NasrallaLONDON, Oct 30 (Reuters) - BP's profits thundered toa five-year high, boosted by stronger oil prices with productionset to rise further thanks to the $10.5 billion acquisition ofBHP Billiton's U.S....Read More
VANCOUVER, BRITISH COLUMBIA / October 30, 2018 / MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG / OTCQB: MGXMF / FKT: 1MG) is pleased to report that engineering partner PurLucid Treatment Solutions ("PurLucid") has deployed the first advanced wastewater treatment system in Alberta. The customer will pay C$35 per cubic meter for evaporator blowdown wastewater ("EBD") processing. Delivery of...Read More
TOKYO, Oct 30 (Reuters) - Honda Motor Co reportedon Tuesday a 40.2 percent jump in second-quarter operatingprofit due to higher motorcycle sales in Asia and costreductions, and as the year-ago earnings were hurt by pensionaccounting changes and litigation settlements.Japan's No. 3 automaker posted a 214.4 billion yen ($1.90billion) operating profit for July-September, up from 152.9billion yen a ye...Read More
(Adds comments, detail)MELBOURNE, Oct 30 (Reuters) - The world's biggest miner BHPBillitonhas trimmed its expectations of globalgrowth for next year and 2020 due to a "lose-lose" result fromthe U.S.-China trade conflict, a senior executive said onTuesday.BHP's modelling suggested the trade row would cut bothChinese and U.S. GDP growth by about a half to three quarters ofa percentage poin...Read More
Baowu Steel Group Corp, China's largest steelmaker, reported increases in its net profit and revenue for the first nine months of 2018.Its net profit during the January-September period totaled 15.75 billion yuan ($2.26 billion), up 35% from 11.67 billion yuan a year earlier, according to the mill's latest financial report released late on Monday October 29.Its revenue increased by 1% to 225.32 bi...Read More
Mike Maloney is back with two more installments of his popular video series, Hidden Secrets of Money.In episode 9 of Hidden Secrets of Money, Mike Maloney draws eerie parallels to the misguided leaders and monetary policies that doomed civilizations from Ancient Rome to modern-day America. Can President Trump save America? Will the Federal Reserve Board be able to pull off yet another round of ext...Read More
Vanadium prices in Europe and the United States continued their upward run in the week ended Friday October 26, amid constrained supply, while Chinese export activity fell dormant with prices remaining at a premium to the global markets. Chinese export price stabilizes on weak buying interest amid premium offer prices EU FeV prices firm despite limited activity EU V2O5 prices strengthen on renewed...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
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday October 30, with broad strength in the US dollar index prompting sharp drops in the three-month copper and zinc prices, while aluminium drifts to levels unseen since August 2017.Reaching a low of $1,966 per tonne, the three-month aluminium price has come under increased pressure over the latter hal...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
The latest news and price moves to start the Asian day on Wednesday October 31.Base metal prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday October 30, with broad strength in the US dollar index prompting sharp drops in the three-month copper and zinc contract prices while aluminium drifted to levels not seen since August 2017. Read more in our live futures r...Read More
An updated preliminary economic assessment (PEA) of Marathon Gold's (TSX: MOZ) Valentine Lake project in Newfoundland, which was based on 20,000 metres of additional drilling since February, among other work, demonstrates stronger economics than an earlier PEA completed in May.The new PEA estimates the project will produce 2.72 million ounces of gold, an average of 225,100 ounces per year, over a...Read More
The latest metal markets news and price moves to start the North American day on Tuesday October 30.Base metal prices on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Tuesday October 30 due to a firm dollar index, with nickel the only metal to gain on investor dip-buying.A firm dollar put downward pressure on the SHFE base metals this morning. The dollar index ha...Read More
Gold witnessed only moderate upward pressure despite the recent equity rout.Speculators slightly lifted net long positions in Comex gold in the week to October 23, the CFTC shows.ETF investors bought just a small quantity of gold last week, according to Fastmarkets.For now, investors are not overly worried about the "technical" sell-off in US equities. As such, the dollar acts as the ideal safe-ha...Read More
Good morning from Fastmarkets' offices in Asia, bringing the latest news and pricing stories on Tuesday October 30. Base metal prices on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Tuesday October 30 due to a firm dollar index, with nickel the only metal to gain on...Read More
Gold has been unable to keep up the bid, losing strength to the dollar and US yields as investors look elsewhere for a return on investment. The risk mood has improved as US Treasuries, and the Japanese yen take a hit while US stocks stabilise and consolidate the recent series of daily losses. Technical support has failed at S1 1225 and price trades below the 21/10- 4hr SMA bearish crossove...Read More
I opined in a previous article 2 weeks ago that gold was set to move towards 1,300. In a span of 2 weeks, gold has popped 16 points higher.XAU/USD has benefited from an equity meltdown, with US equity markets erasing most or all of its gains for this year already. More panic-selling should be supportive for gold.A key point: short positioning in US 10- and 30-year Treasuries is at its all-time hig...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
Analysts at TD Securities explain that after spending the majority of the summer in the gutter as the bears piled on record short positions, it took a 10% correction in equities to convince these shorts to finally start covering. Key Quotes “This round of short covering did well to lift the yellow metal off the lows, and even to as high as $1243.48/oz last week, but we are wary of the stayin...Read More