Canadian mining titan Barrick Gold is reportedly considering the addition of nine of the world's top gold mines in the near-term.Continue...Read More
Chaarat Gold Holdings (LON:CGH), the company that tried and failed to buy Centerra Gold's (TSX:CG) Kumtor mine in Kyrgyzstan, revealed Wednesday the Canadian miner turned down an unconventional takeover offer, valued at about C$2 billion (roughly $1.52B), for the entire company.The Central Asia-focused gold miner last month proposed buying the Toronto-based company in an all-cash transaction at...Read More
A BMO Capital Markets report reviewed this multinational company's Q3/18 numbers and Q4/18 outlook. In an Oct. 26, 2018, research note, BMO Capital Markets analyst Edward Sterck reported that due to a "slightly light" Q3/18 for Glencore International Plc (GLEN:LSE), for it to meet the lower end of 2018 guidance will require "a 6% acceleration of output in Q4/18 versus Q3/18, which is certainly po...Read More
A ROTH Capital Partners report explained why this mining stock warranted an uprating. In an Oct. 25 research note, analyst Andrew Kaip reported ROTH Capital Partners upgraded its rating on Goldcorp Inc. (G:TSX; GG:NYSE) to Outperform based on the market's recent "over-reaction," which resulted in an 18.7% drop in its stock price. The company is trading at a "significant" discount to peers, at aro...Read More
Gold and silver moved lower on Wednesday and and have hit three-week and four-week lows, respectivelyContinue...Read More
This Canada-based mining firm relayed its recent exploration efforts. Carol Structure at Palamina's Bendi ProjectPalamina Corp. (PA:TSX.V; PLMNF:OTC.MKTS) announced that it has completed a 3,000 line-kilometer heli-borne geophysical survey over its Coasa, Gaban and Cori gold projects in Peru, and the collected data are currently being processed. The goal is to better understand the geological str...Read More
(Reuters) - Yum Brands Inc (YUM.N) topped Wall Street estimates for third-quarter revenue and profit on Wednesday, as strong sales at its KFC and Taco Bell chains helped counter continued weakness at Pizza Hut.U.S. fast food chains, including Yum Brands and McDonald’s Corp (MCD.N), are fiercely competing to retain and add more customers with cheaper menu items, discounts and new breakfast me...Read More
BRUSSELS/FRANKFURT (Reuters) - Euro zone inflation accelerated last month, providing further rationale for the European Central Bank’s decision to dial back stimulus even as growth is slowing more sharply than most had forecast.Consumer price growth in the 19 countries sharing the euro picked up to 2.2 percent in October from 2.1 percent last month, Eurostat said in a preliminary report, hol...Read More
Prices for hollow steel sections in Northern Europe have fallen this week following a decline in feedstock prices, Fastmarkets heard on Wednesday October 31.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe fell by ?,?10 per tonne to ?,?650-660 ($739-750) per tonne delivered on October 31, from ?,?660-670 per tonne delivered on Oct...Read More
MOSCOW (Reuters) - Russia’s drive to fill state coffers to give itself a $200 billion buffer against threats like new U.S. sanctions is prudent, analysts say, but will come at the expense of economic growth.With oil prices high, Russia has been steadily siphoning revenues from its major export into the National Wealth Fund (NWF). It has also raised oil industry taxes, hiked value-added tax a...Read More
* BOJ maintains policy and cut price forecasts* Advantest, Sony, Honda attract buying after earnings* Chiyoda nosedives after co expects lossBy Ayai TomisawaTOKYO, Oct 31 (Reuters) - Japan’s Nikkei bounced to a one-week high on Thursday as chip-related stocks surged in line with their U.S. counterparts, while first-half earnings from firms such as Sony and Honda supported sentiment.The Bank...Read More
DETROIT, Oct 31 (Reuters) - General Motors Co onWednesday posted far stronger-than-expected quarterly profit andsaid its full-year earnings forecast would come in at the highend of its forecast due to strong demand in North America.The Detroit automaker reported third-quarter net income of$2.53 billion, or $1.75 a share, compared with a loss last yearof $2.98 billion, or $2.03 a share. Last year's...Read More
* Graphic: World FX rates in 2018 By Saikat Chatterjee LONDON, Oct 31 (Reuters) - The dollar rose to its highestlevels in more than a year on Wednesday as dovish comments bythe Bank of Japan and weak data from China reinforced thegreenback's attractiveness as an investment destination.Fuelled by an overnight rally in equities - Japanese stocks are up more than 2 percent - the dollarwas set for a s...Read More
The world's fastest-growing vertically integrated global cannabis company could net investors a huge return in the months to come.The worldwide trend toward marijuana legalization has triggered a wave of growth opportunities for investors around the globe.Beyond the explosive Canadian market - this diversified cannabis operator maintains production, processing, and distribution facilities worldwid...Read More
MOSCOW, Oct 31 (Reuters) - Russia's rouble held steady onWednesday as the impact of the globally stronger dollar wasoffset by rising risk appetite and higher oil prices before thefinance ministry's weekly auction of government bonds.At 0747 GMT, the rouble was little changed at 65.57 againstthe dollar and 74.40 versus the euro.The rouble showed a muted reaction to the U.S. dollar'sadvance to 16-mo...Read More
The VIX just turned in its best month in over three yearsStocks closed out October with a flourish, as the Dow finished up over 240 points to cap off a hectic and volatile month. Despite tacking on more than 670 points over the last two days, the blue-chip index still turned in its worst month since January 2016. The S&P 500 and Nasdaq also finished strong today thanks to an upbeat round of corpor...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
Oct 31 (Reuters) - Finnish mining technology company Outotec cut its margin target for 2018 and said the impact ofproblems at one of its start-up operations is still unknown. "At this point, it is too early to assess the totalfinancial impact of the needed repair" Outotec said in itsthird-quarter report, referring to issues in one of its electricfurnaces, flagged on Friday. Outotec, whic...Read More
The cybersecurity firm posted impressive third-quarter earningsThe shares of FireEye Inc (NASDAQ:FEYE) are up 10.8% to trade at $18.88 -- headed toward their best day since May 2017 -- after the cybersecurity company reported third-quarter adjusted earnings of 6 cents per share on $211.65 million in revenue, more than analysts were expecting. The impressive results came as FireEye shifted to a sub...Read More
CloseGain/LossGold $1216.90-$6.70Silver$14.28-$0.20XAU64.28-1.77%HUI142.82-1.66%GDM525.44-1.36%JSE Gold1163.80-6.70USD97.01+0.02Euro113.25-0.20Yen88.62-0.03Oil$65.31-$0.8710-Year3.147%+0.028T-Bond138.25-0.65625Dow25115.76+0.97%Nasdaq7305.90+2.01%S&P2711.74+1.09% The Metals: Gold fell $11.50 to $1212.10 by midmorning in New York before it bounced back higher at times, but...Read More