A summary of Glencore's production results for the third quarter of 2021, released on Friday October 29In brief?EUR?Compared with the third quarter of 2020, Glencore's production of copper, nickel, zinc and lead from its own assets fell over 10% in the three months to September 2021. ?EUR?Year-to-date, nickel and lead production is also down over 10% from the same period in 2020, but copper is onl...Read More
Share this article CALGARY - Alpha Exploration Ltd.(TSXV: ALEX) reported that further to notice received from the TSX Venture Exchange, its ordinary shares will begin trading on the TSX-V under the symbol 'ALEX ' at market open on November 1, 2021.In addition, holders of Alpha's ordinary shares and preferred shares have each approved a special resolution to amend Alpha's memorandum and articles o...Read More
WASHINGTON, Oct 29 (Reuters) - U.S. labor costs increased by the most since 2001 as companies boosted wages and benefits amid a severe worker shortage, suggesting inflation could remain high for sometime.The Employment Cost Index, the broadest measure of labor costs, surged 1.3% last quarter after rising 0.7% in the April-June period, the Labor Department said on Friday. The largest gain since 200...Read More
OTTAWA, Oct 29 (Reuters) - The Canadian economy most likely underperformed in the third quarter, official data suggested on Friday, prompting analysts to forecast the Bank of Canada might raise interest rates more slowly than expected.The economy expanded by 0.4% in August and looked set to show no growth in September, when supply chain issues hit auto exports, Statistics Canada said.Third quarter...Read More
WASHINGTON (Reuters) - U.S. consumer spending increased solidly in September, but was partly flattered by higher prices as inflation remained hot amid shortages of motor vehicles and other goods in the face of global supply constraints.The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.6% last month. Data for Aug...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Gold and silver prices are moderatelylower in early U.S. trading Friday, weighed down by rising U.S. Treasury yieldsand a rebound in the U.S. dollar index on this day. December gold was last down$10.1...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 29.Susan Zou, Yingchi Yang and...Read More
Oct 29 (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday said that the global minimum tax agreement will ensure that all countries can collect more from corporations, and high earners pay their fair share."This is an important agreement because countries around the globe have decided that in order to finance the public infrastructure, investments... all countries in a fair way collect mor...Read More
China's nickel sulfate price was unchanged in the week to Friday October 29, with minimal spot trading activity reported during the pricing period due to the weaker demand in the downstream precursor ternary market, Fastmarkets heard.Fastmarkets assessed the price of nickel sulfate, min 21%, max 22.5%; cobalt 10ppm max, exw China, at 35,500-36,000 yuan ($5,552-5,630) per tonne on Friday, unchanged...Read More
One of Warren Buffett's most famous investment sayings is "Be fearful when others are greedy. Be greedy when others are fearful."And the proof is in the pudding. Based on this simple idea, the Oracle of Omaha has amassed a net worth of over $105 billion.You don't have to like him. And you may think the near-mythical stories of him still driving a beat-up Volvo, ordering McDonald's every morning,...Read More
(Reuters) - The S&P 500 and the Nasdaq indexes looked set to drop from record highs on Friday, as results from mega-cap firms Apple and Amazon.com reignited concerns of labor and supply shortages that have been at the forefront of this quarterly earnings season.Market participants have been closely watching how corporate America navigates through these challenges along with concerns about rising i...Read More
Battery-grade lithium prices in Asia nudged higher over the week to Thursday October 28 on lingering tightness in supply, costlier feedstock and monthly restocking among buyers. ?EUR? Chinese suppliers of seaborne battery-grade lithium hydroxide price succeed in translating higher offers into transactions in the Asian spot market.?EUR? Lithium prices in China's domestic market rise on month-end re...Read More
FRANKFURT/BRUSSELS, Oct 29 (Reuters) - The euro zone economy continued to boom over the summer as activity rebounded after coronavirus lockdowns but inflation is also blowing past expectations, leaving the European Central Bank with a growing policy headache.Growth has soared as consumers return to stores and venues but many businesses have been unable to keep up with demand, putting further press...Read More
LONDON, Oct 29 (Reuters) - French President Emmanuel Macron warned Prime Minister Boris Johnson on Friday that Britain's credibility was on the line in the row over post-Brexit fishing rights and Northern Ireland, with other countries watching closely.Macron told the Financial Times in an interview that the fishing rights issue was important."Make no mistake, it is not just for the Europeans but a...Read More
The European market for hot-rolled coil remained calm on Friday October 29 with both producers and buyers holding back from trading, sources told Fastmarkets.European steelmakers have been focused on settlement of long-term agreements with big buyers, such as the automotive and white goods sectors. As a result, they have not been active in the spot market.Buyers, in the meantime, have been taking...Read More
LONDON, Oct 29 (Reuters) - The readout from this week's brutal selloff in government bond markets seems clear: rising inflation will hustle central banks into panicky interest rate rises, quashing economic growth.Yet stocks, currencies and corporate bonds are sending a different picture: keep calm. Maybe even buy more.Time will tell who has it right. What's for sure is many bond investors were cau...Read More
A summary of production figures and financial results from Brazilian steelmaker Usiminas for the third quarter of 2021, as shown in its earnings report published on Friday October 29.In brief?EUR?Usiminas' strategy of buying third-party steel slab to be rolled at the Cubat??o mill was maintained, with a significant increase in purchases year-on-year in the third quarter to 502,000 tonnes, from 240...Read More
MEXICO CITY, Oct 29 (Reuters) - Mexico’s first economic contraction since a recovery began from the coronavirus pandemic poses a challenge to the central bank’s monetary policy tightening cycle, but stubbornly high inflation appears likely to take precedence, analysts said on Friday.The Mexican economy shrank 0.2% here in the July-September period compared with the previous quarter a...Read More
ROME, Oct 29 (Reuters) - President Joe Biden on Friday called U.S. government actions "clumsy" during his first meeting with French President Emmanuel Macron since a diplomatic crisis erupted last month over a U.S. security pact with Britain and Australia.Biden used the meeting at the G20 summit in Rome, Italy to try to turn the page on a relationship that came under strain over the U.S.-Australia...Read More
PARIS (Reuters) -A group of bondholders including asset manager BlackRock and an affiliate of private equity firm Carlyle has become the top shareholder in French fashion company SMCP, taking on a 29% equity stake it now wants to sell.The ownership of SMCP, whose brands include Sandro and Maje, has been the subject of speculation after a unit of its Chinese majority owner Shandong Ruyi defaulted o...Read More