WASHINGTON, Nov 17 (Reuters) - U.S. President Joe Biden on Wednesday said there was mounting evidence of anti-consumer behavior by oil and gas companies that is keeping fuel prices elevated, asking the Federal Trade Commission to dig deeper into possible "illegal conduct" in the market.The White House is pressing on several fronts to try to lower fuel costs, even as tight global oil supply drives...Read More
LONDON, Nov 17 (Reuters) - British households, businesses and financial markets remain confident that the Bank of England will return inflation to its 2% target, BoE policymaker Catherine Mann said, after official data on Wednesday showed inflation at a 10-year high.BoE Governor Andrew Bailey said on Monday that he had been concerned last month that markets might lose faith in the BoE's commitment...Read More
WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission (SEC) chairman, seeking to improve transparency in the world's biggest bond market, has asked staff for new rules to ensure principal trding firms (PTFs) are properly registered as dealers.Speaking at the New York Federal Reserve, Gary Gensler said the rules would likely mandate PTFs, also known as high-frequency trading firms, to...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 17.Key drivers European ferro-titanium spot prices were unchanged for the fifth week in a row after a tender for annual delivery in 2022 from Korean steel major Posco was settled in the current spot price range, according to sources. There were no reported spot trades over the week to Wednesday November 17. Ferro-titanium s...Read More
PARIS (Reuters) - France's Danone, the world's largest yoghurt maker, plans to switch one of its big French factories to plant-based drinks next year in a bet on fast-growing non-dairy milk alternatives.Danone said in a statement on Wednesday it will invest 43 million euros ($49 million) in 2022 to convert its Villecomtal-sur-Arros dairy plant in southern France into a production site of mainly oa...Read More
Expert analyst Ron Struthers founder and editor of Struthers' Resource Stock Report breaks it all down, in a November 15 report, about what makes Inomin Mines Inc. his latest pick. Not much new to start the week except news on our latest pick, Inomin Mines Inc. (MINE:TSX.V; IMC:FRA) and last week Northern Graphite stock broke out to the upside. Gold is flat, but I have noticed that natural gas...Read More
White Gold encountered two types of mineralization in a newly identified breccia unit at Betty Ford, a Stifel report noted. The first diamond drill results from White Gold Corp.'s (WGO:TSX.V; WHGOF:OTCQX; 29W:FRA) Betty Ford property in the Yukon "hit broad zones of high grade near surface," Stifel analyst Stephen Soock reported in a Nov. 17 research note. Betty is one of the company's several adv...Read More
Nov 17 (Reuters) - Shares of Tesla (TSLA.O) climbed for a second day on Wednesday, gaining 4% after Chief Executive Elon Musk sold more of his shares, while other high-flying electric vehicle makers hit the brakes on a euphoric rally.Luxury electric car maker Lucid Group Inc (LCID.O) tumbled 8%, while Rivian Automotive Inc (RIVN.O) dropped about 15%, down for the first time since its blockbu...Read More
(Adds details)TUNIS, Nov 17 (Reuters) - Tunisia has cut its GDP growth expectation for 2021 to 2.6%, down from a previous forecast of 4%, according a document seen by Reuters.Tunisia faces its the worst economic crisis after its economy contracted 8.8% last year and the fiscal deficit reached a record 11.4%.The fiscal deficit in the latest forecast will reach 8.3% in 2021, up from 6.6% expected ea...Read More
Domestic stainless steel prices in China maintained their downward trend for the week ended Wednesday November 17 due to soft demand.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 18,800-19,000 ($2,942-2,974) per tonne, down by 500 yuan per tonne from a week earlier.Downstream industries performed poorly, leading to lower stainless steel demand.Market sentiment became bear...Read More
According to Bob Moriarty of 321Gold, West Wits Mining Limited is worth a buy ... if you can get your hands on it that is. This is going to be one of the more important pieces I have written in a long time because it offers a giant opportunity and lot of difficulty at the same time. The company is named West Wits Mining Ltd. (WWI:ASX). It is only Australian listed for right now. So you are going t...Read More
"Given this actual and expected strong balance sheet, we expect Teck Resources could announce a one-time capital return to shareholders with its February earnings and guidance release," noted a BMO Capital Markets report. In an Oct. 27 research note, analyst Jackie Przybylowski reported that BMO Capital Markets increased its target price on Teck Resources Ltd. (TECK:TSX; TECK:NYSE) to CA$54 per sh...Read More
"This first stream represents an important milestone in terms of opportunities originated by Nomad Royalty Company since inception," noted a BMO Capital Markets report. In an Oct. 29 research note, BMO Capital Markets analyst Rene Cartier reported that Nomad Royalty Company Ltd. (NSR:TSX; NSRXF:OTCQX) agreed to purchase a gold stream on the metal to be produced from the Greenstone mine in Ontario,...Read More
Nov 17 (Reuters) - The Federal Reserve Bank of Dallas has kicked off a search for a new president to replace Robert Kaplan, the bank's previous top executive who left last month after a scandal over his personal financial transactions.The bank's search is being led by its non-bank directors, it said in a statement on Wednesday. The bank hired the executive search firm Egon Zehnder to assist in rec...Read More
NEW YORK (Reuters) - Global debt dipped in the third quarter though it remained near the record high set in June, while debt in emerging markets hit a fresh record high of $92.5 trillion, a report showed on Wednesday.Total debt, including that owed by governments, households and companies, dipped to $296 trillion at the end of September, after an increase to record highs in the second quarter. It...Read More
ReutersFRANKFURT, Nov 17 (Reuters) - Euro zone inflation will remain higher for longer and the European Central Bank must be ready to rein it in if price growth proves to be more durable than policymakers now anticipate, ECB board member Isabel Schnabel said on Wednesday."This means avoiding the mistake of a premature tightening of monetary policy in response to a temporary and possibly short-live...Read More
ReutersNov 17 (Reuters) - Wall Street's main indexes opened flat on Wednesday as investors fretted over early rate hikes by the Federal Reserve after strong retail earnings and data showed an economic recovery was on track.The Dow Jones Industrial Average (.DJI) rose 17.48 points, or 0.05%, at the open to 36,159.70.The S&P 500 (.SPX) opened higher by 0.60 points, or 0.01%, at 4,701.50, while t...Read More
(Updates prices)LONDON, Nov 17 (Reuters) - Copper prices fell for a thirdday on Wednesday as expectations of U.S. interest rate riseslifted the dollar to 16-month highs, making metals priced in thegreenback costlier for buyers with other currencies.Benchmark copper on the London Metal Exchange (LME)was down 1.6% at $9,404 a tonne at 1723 GMT.Prices of the metal, used in construction and to conduct...Read More
The price of steel hollow sections in Europe moved down on Wednesday November 17 due to ongoing weak demand, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,130- 1,170 ($1,283-1,329)per tonne on Wednesday, compared with ?,?1,150-1,250 per tonne one week previously.Hollow section prices have remained weak due to lower f...Read More
(Updates prices)LONDON, Nov 16 (Reuters) - Prices of industrial metals easedon Tuesday as the dollar firmed on positive sentiment from avirtual meeting between the leaders of the world's largesteconomies.The closely watched conversation between Chinese PresidentXi Jinping and U.S. President Joe Biden yielded no immediateoutcomes but struck a positive tone and was seen as a chance toimprove relatio...Read More