DUBAI, Jan 8 (Reuters) - An affiliate of Qatari conglomerate Aamal Co plans to build three factories to produce copper wires, aluminium bars and drums for cables, projects that could make the country more self-reliant in the face of an embargo by other Arab states.The factories will be established by Senyar Industries Qatar Holding, owned 50 percent by Aamal and 50 percent by Egyptian cable maker...Read More
* Caterpillar at record high after brokerage upgrade* Nasdaq biotech index on track for its worst day since Oct. 26* GoPro plunges to new lows after Q4 sales warning* Dow down 0.13 pct, S&P flat, Nasdaq up 0.17 pct (Updates to early afternoon)By Sruthi ShankarJan 8 (Reuters) - The S&P 500 and the Dow struggled to edge higher on Monday, stalling the strong rally that marked the start of 201...Read More
The latest metal markets news and price moves to start the North American day on Monday January 8.Lead and zinc began the week slightly higher while the rest of the base metals on the London Metal Exchange came under pressure this morning. Zinc was Monday morning's best performer, up $13 to $3,365 per tonne. Aluminium, meanwhile, continued to slip marginally lower, down $12 to $2,193.50 per tonne....Read More
An independent study of the tax rate paid by the Australian minerals industry shows mining paid an effective tax rate of 51 per cent in 2015-16 in company tax and royalties - the second-highest tax ratio recorded since the survey began nine years ago.Deloitte Access Economics' Minerals Industry Tax Survey 2017, based on a survey of 25 Australian mining companies, provides an independent and robust...Read More
CAIRO, Jan 8 (Reuters) - Average yields on Egypt's three-year and seven-year treasury bonds rose at an auction on Monday, central bank data showed.The average yield on three-year bonds was 15.897 percent, compared with 15.542 percent at the last auction on Dec. 25. The average seven-year bond yield rose to 15.785 percent, from 15.554 percent.Egypt has raised its key interest rates by 700 basis poi...Read More
SHANGHAI, Jan 8 (SMM)? 1/4 ?Nonferrous metals traded lower today except for the slight rise in zinc price. While lead was stable, aluminium and copper dropped close to 1%. Nickel and tin also edged down. Ferrous metals saw a rather strong movement today. Iron ore and coking coal rose almost 3%, while coke, hot-rolled coil and rebar rose nearly 1%.Copper: We see room for SHFE copper prices to...Read More
Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Monday January 8.Base metals prices on the Shanghai Futures Exchange were weaker across the board during Asian morning trading on Monday, with the complex coming under pressure from news that researchers at China's central bank have agreed that the time may be right to raise interest rates...Read More
By Bruno FederowskiSAO PAULO, Jan 8 (Reuters) - Brazilian stocks held near all-time highs on Monday, underpinned by optimism over the nation's fiscal outlook.The benchmark Bovespa stock index was nearly flat following a seven-day string of gains. Blue chips, such as miner Vale SA and state-controlled oil company Petr??leo Brasileiro SA , led the gains.The rally in Brazilian stocks has been support...Read More
(Adds details, quote, share price)LAGOS, Jan 8 (Reuters) - Nigeria's Union Bank has raised 49.7 billion naira ($163 mln)through a rights issued which it said was 120 percent subscribed.The mid-sized lender launched the share sale last September at a ratio of five new shares for every seven held at 4.10 naira each.Union Bank, set up 100-years ago, had said it planned to spend 80 percent of the fun...Read More
SHANGHAI, Jan 8 (SMM)? 1/4 ?Copper: LME copper fell below the 10-day moving average and is expected to stay soft at $7,090-7,140/mt today with support at $7,000/mt. The SHFE 1803 copper is expected to trade at 54,300-54,800 yuan/mt. Spot prices are expected at 20 yuan/mt discount to 30 yuan/mt premiums today.Aluminium: The support of the 10-day moving averages became weaker for LME aluminium...Read More
A tractor-trailer carrying uranium concentrate or yellowcake to Cameco's Blind River refinery was involved in a minor traffic accident on Sunday. The incident took place on the Trans-Canada Highway (Highway 17) between Wawa and Sault Ste. Marie, Ontario.Although Cameco says the contracted transportation company is investigating to determine the cause of the accident, local newspaper Sault Star rep...Read More
(Adds detail, quotes, background)By Marc JonesLONDON, Jan 8 (Reuters) - Foreign investors poured $235 billion into emerging markets as they rallied strongly last year, allowing developing countries to add more than $130 billion to their hard-currency reserves, the Institute of International Finance said on Monday.The $235 billion "portfolio flow" figure was the best in three years and r...Read More
(Adds hopes to list in early February in paragraph 5)MADRID, Jan 8 (Reuters) - Spanish residential developer Metrovacesa, which was taken over by creditors during the country's property crash, said it plans to list on the stock market, highlighting renewed investor faith in Spanish real estate.Residential construction in Spain is now thriving with foreign investment pouring into developments in c...Read More
LAGOS, Jan 8 (Reuters) - Nigeria's Union Bank has raised 49.7 billion naira through a rights issued which it said was 120 percent subscribed.The mid-sized lender launched the share sale last September at a ratio of five new shares for every seven held. (Reporting by Chijioke Ohuocha, editing by David Evans) Disclaimer: The views expressed in this article are those of the author and may not reflec...Read More
Italy's Treasury said on Monday it would offer up to 6.0 billion euros over two bonds at auction on Jan. 11.BOND TYPE 3-year BTP7-year BTPMATURITYOct. 15, 2020 Nov. 15, 2024TRANCHE5th 7thCOUPON 0.20 pct1.45 pctAMOUNT OFFERED 2.5-3.0 2.5-3.0(bln euros)SETTLEMENT DATEJan. 15, 2018(Reporting by Milan Newsroom)Keywords: ITALY BONDS/AUCTION ANNOUNCEMENT Disclaimer: The views expressed in this article...Read More
The U.S. used to be the world's number one uranium producer, and most of it came from Wyoming. But since the 1980s, production has dropped precipitously. These days, prices are too low for most U.S. uranium operations to make any money. But that may be about to change - uranium's biggest customer is the nuclear energy industry.Continue reading...Read More
MADRID, Jan 8 (Reuters) - Spanish real estate company Metrovacesa on Monday announced its intention to float in a move it said was aimed at widening its shareholder base, making it easier to access capital markets to get financing for projects.The residential developer will look to sell existing shares owned by Spanish banks Banco Santander and BBVA in the offering, it said in a statement. The com...Read More
* Steinhoff drops off ECB's holdings list* ECB set for loss of up to 55 pct on investment (Writes through)By Francesco CanepaFRANKFURT, Jan 8 (Reuters) - The European Central Bank sold its bonds of scandal-hit South African retailer Steinhoff last week, data showed on Monday, potentially losing more than half the amount it had invested.Steinhoff, the owner of brands such as Conforama and Poundland...Read More
RAPAPORT PRESS RELEASE, January 8, 2018, Las Vegas... RapNet, theworld's leading diamond trading network, will launch a new, upgraded platformtomorrow, January 9, 2018. The upgrade will provide members with a moresecure, intuitive and smarter trading environment. It is the first step in a $5million Rapaport and RapNet development project that will revolutionize theelectronic market for diamonds.&n...Read More