Foreign loans that use minerals as collateral may complicate Zimbabwe's future negotiations with foreign creditors to restructure its $8.8 billion debt, an International Monetary Fund official said on Monday.Unable to get funding from lenders like the IMF since defaulting on its debt in 1999, Zimbabwe has over the last five years relied on the African Export and Import Bank (Afreximbank) for miner...Read More
Jersey-based Royal Road Minerals (TSXV: RYR) announced the closing of the acquisition of Northern Colombia Holdings from Compa???-a Kedahda, an affiliate of AngloGold Ashanti (JSE: ANG) (NYSE: AU).In a press release, Royal Road explained that NC Holdings, through its subsidiaries, owns Exploraciones Northern Colombia, which holds or has rights to a title package comprised of mining concession agre...Read More
The reasons for the better scenario are discussed in a ROTH Capital Partners report. In a May 29 research note, ROTH Capital Partners analyst Jake Sekelsky reported that recent additional metallurgical test results from Vista Gold Corp.'s (VGZ:NYSE.MKT; VGZ:TSX) Mt. Todd project "indicate the potential to increase recoveries" there."Given Mt. Todd's scale, we believe an increase in overall recove...Read More
* Global economy could face recession * Data deteriorated before latest flare up on trade * Weak economy may spark c. bank "race to the downside" onrates (Adds U.S. data; changes dateline, previous LONDON/HONG KONG)By Trevor Hunnicutt, Jonathan Cable and Marius ZahariaNEW YORK/LONDON/HONG KONG, June 3 (Reuters) - Factoryactivity slowed in the United States, Europe and Asia last monthas a...Read More
Our research team believes Silver could be the Sleeper Rally setup of a lifetime for investors if the global economic cards continue to get scattered and crumpled over the next 10+ years. The recent rally in Gold got a lot of attention last Friday (the end of May 2019). We had been warning about this move for the past 8+ months and generated an incredible research post in early October...Read More
A 50:50 joint venture between Luxembourg-based trader/steel producer Duferco and United States steelmaker Nucor Corp has announced plans to build a ?,?150 million steel beam rolling mill in Brescia, Northern Italy.The Duferdofin-Nucor mill is expected to be fully operational by mid-2022 and will have an annual production of more than 1 million tonnes of...Read More
Gold's $30 run-up over the last two sessions is the sharpest we've seen in a while. Was it just a knee-jerk reaction to continuing weakness in U.S. stocks? Probably. But we'll keep a close eye on it nevertheless, since gold sentiment is so negative, sometimes verging on despair. Many investors who have followed bullion's bear market closely since prices peaked eight years ago just above $1900 se...Read More
By: Ira EpsteinGold came alive as the markets brought rates down. Gold still very much sideways on long-term view. It has been a long time!Read More
Demand for flat steel in Turkey improved in May especially in the export market, after the United States halved its import tariffs for Turkish steel to 25%, market participants told Fastmarkets. And local producers have now filled their order books until August, they said on Friday May 31. Turkish steel prices also began to increase from May 17, when the US duties wer...Read More
German turnaround investor Mutares has completed the acquisition of TrefilUnion, the French wire products subsidiary of steelmaker ArcelorMittal, it said on Monday June 3.The value of the acquisition was not disclosed.TrefilUnion is comprised of two plants in Commercy and Sainte-Colombe-sur-Seine, both in Eastern France. It was a part of ArcelorMittal's WireSolutions business, which has three othe...Read More
It's beginning to look a lot like a steel market downturn. Fastmarkets examines whether that trend is confined to steel - or whether the broader global economy is in trouble.Hot-rolled coil prices have begun reflecting trends not seen since the 2008 global financial crisis and its aftermath - the Great Recession. Fastmarkets has taken the pulse of markets in the United States, Europe, China a...Read More
FAANG stocks were under pressure amid antitrust probesThe Dow traded on both sides of the aisle throughout the day, but ultimately eked out a win. On the other hand, the tech-heavy Nasdaq suffered a second straight triple-digit loss and its lowest close since mid-February, falling into correction territory amid concerns about FAANG stocks. More specifically, reports emerged that the Justice Depart...Read More
How you can transform lagging indicators into leading indicators.No one ever said trading was going to be easy.Sometimes, do-it-yourself investing can feel about as scientific as throwing darts... and many traders give up, unable to figure out how they can break through the endless cycles of mediocre - or even straight up abysmal! - results.And when even the supposed "market gurus" or "experts" do...Read More
FB is heading toward its worst day since late DecemberAlphabet (GOOGL) sent the broader tech sector reeling out of the gate on news the Department of Justice (DoJ) is considering an antitrust probe into the search engine giant. Losses have only accelerated for fellow FAANG stock Facebook, Inc. (NASDAQ:FB), after a Wall Street Journal report indicated the Federal Trade Commission (FTC) secured the...Read More
J.P. Morgan Securities removed Salesforce.com from its Analyst Focus listSalesforce.com, Inc. (NYSE:CRM) was just taken off J.P. Morgan Securities' Analyst Focus list, right before the cloud concern unveils its first-quarter earnings after the close tomorrow, June 4. The analyst maintained its "outperform" rating and $180 price target, but warned software valuations were nearing a 15-year peak. Th...Read More
TIF has been trending lower since a recent rejection at its 320-day moving averageHigh-end jeweler Tiffany & Co. (NYSE:TIF) is moving up the charts this afternoon, as traders climb on ahead of the company's first-quarter earnings report, slated for release before the market opens tomorrow, June 4. Below, we will take a look at how TIF has been performing on the charts, as well as what the options...Read More
Zinc's three-month price on the London Metal Exchange continued to move downward at the close of trading on Monday June 3, with market participants indicating a corrective price move.At the same time, commodity investment remained subdued on the threat of new tariffs to be imposed on Mexico by the United States.Volumes traded in the galvanizing metal reached their highest level since April 16, wit...Read More
Morgan Stanley gave 3 things it's considering in its coverage of the government services spaceAnalysts at Morgan Stanley today began coverage on government services stocks with a balanced outlook. The firm sees steady growth in the U.S. defensive space, full valuations in the sector, and increased competition. Still, two names the firm gave bullish attention were Booz Allen Hamilton Holding Corpor...Read More
The stock is higher after Amgen announced positive results for its cancer drugWhile the Dow is currently trading around breakeven, the tech-rich Nasdaq is down triple digits on regulation concerns for FAANG stocks. Two stocks that have also captured Wall Street's attention today are biopharmaceutical concern Mirati Therapeutics Inc (NASDAQ:MRTX) and car-pricing database name TrueCar Inc (NASDAQ:T...Read More
Weekly options are popular as AAPL's WWDC kicks offDow component Apple Inc. (NASDAQ:AAPL) unsurprisingly showed up on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that have seen the most option volume in the past 10 days, and today near-term contracts are popular again. Another name on the list, newly added since last week's study (as indicated by the yellow highlight), is...Read More