A trade dispute between China and the United States is the main issue causing volatility in metal prices and market participants are braced for stormy conditions to persist, industry sources said in Hong Kong this week.A swift deterioration in China-U.S. trade talks hit global financial markets this week as investors faced the prospect of an escalation rather than an end to a 10-month-old trade wa...Read More
Noront Resources announced today that Sault Ste. Marie will be the home for a new ferrochrome processing plant. Chromite, one of the resources found in the Ring of Fire, can be processed into ferrochrome, a key ingredient in stainless steel. "This is tremendous news for the city of Sault Ste. Marie," said Ross Romano, Parliamentary Assistant to the Minister of Energy, Northern Development and Mi...Read More
Norwegian pension fund manager KLP has sold 3.2 billion crowns ($366 million) of bond and equity exposure in 46 companies, including leading miners BHP and Anglo American, after a decision to withdraw from thermal coal. Fund managers have become increasingly reluctant to risk investing in companies linked to fossil fuels or other activities regarded as unsustainable as popular pressure mounts for...Read More
eBay outpaced the broader S&P 500 Index in recent monthsOnline retailer eBay Inc (NASDAQ:EBAY) saw its stock bounce from the put-heavy $36 level recently thanks to strong earnings, sending the shares gapping back above the 40-day moving average, a trendline that previously acted as resistance in 2018. Despite a strong run higher in recent months, with EBAY roughly doubling the performance of the b...Read More
The stock is down more than 35% in early tradingCatalyst Pharmaceuticals Inc (NASDAQ:CPRX) stock is suffering steep losses this morning, down 38.8% at $3.74, after rival Jacobus Pharmaceuticalreceived approval from the Food & Drug Administration (FDA) for its Ruzurgi drug to treat children with rare auto-immune disorder Lambert-Eaton Myasthenic Syndrome (LEMS). What's more, CPRX put volume is pac...Read More
Copper production at Chile's top mines dropped sharply in the first quarter of 2019, Chilean copper commission Cochilco said on Tuesday, amid a perfect storm of operational issues, heavy rains and falling ore grades at the largest deposits.Cochilco said world top copper miner Codelco saw output drop 17% from the same period in 2018 to 371,000 tonnes.BHP's Escondida copper mine - the world's larges...Read More
Shares of IAMGOLD (TSX: IMG) (NYSE: IAG) slumped more than 12% at market open on Tuesday following its Q1 results release, bringing its market capitalization down to $1.2 billion. The Toronto-based gold miner reported an adjusted net loss of $2.2 million, or roughly $0 per share, falling short of analysts' expectations of $0.01 per share.According to the company, it had a challenging first quarter...Read More
Shares of IAMGOLD (TSX: IMG) (NYSE: IAG) slumped more than 12% at market open on Tuesday following its Q1 results release, bringing its market capitalization down to $1.2 billion. The Toronto-based gold miner reported an adjusted net loss of $2.2 million, or roughly $0 per share, falling short of analysts' expectations of $0.01 per share.According to the company, it had a challenging first quarter...Read More
Shares of IAMGOLD (TSX: IMG) (NYSE: IAG) slumped more than 12% at market open on Tuesday following its Q1 results release, bringing its market capitalization down to $1.2 billion. The Toronto-based gold miner reported an adjusted net loss of $2.2 million, or roughly $0 per share, falling short of analysts' expectations of $0.01 per share.According to the company, it had a challenging first quarter...Read More
Gold imports by India surged in April amid falling prices and higher demand ahead of the second-biggest gold-buying day in the Hindu calendar.Inbound shipments grew to 121 tons last month from 52.8 tons a year earlier, according to a person familiar with the data, who asked not to be identified as the information isn't public. Shipments were higher than the 73 tons in March as well. Finance Minist...Read More
ROKU could be set for more volatility with earnings around the cornerTwo growth stocks receiving positive analyst attention on Wall Street this morning are streaming technology expert Roku Inc (NASDAQ:ROKU) and low-cost gym operator Planet Fitness Inc (NYSE:PLNT). A brief breakdown of the bull notes on the shares of ROKU and PLNT is below. ROKU was started with an "overweight" designation at Steph...Read More
Norway's proposal to divest billions more from coal, and instead use the world's largest sovereign wealth fund to invest in solar and wind is a sign of things to come - and may just be what catapults the global clean energy market into sky rocketing growth.The proposal is set to pass into law in June and follows supportive policy agreed by the ruling Conservative Party last year. It will see the N...Read More
GWPH short sellers could soon head for the exitsThe shares of GW Pharmaceuticals PLC (NASDAQ:GWPH) are in focus today, aftera double-dose of good news last night. First, the drugmaker's first-quarterlosswas slimmer than expected. But more importantly, its epilepsy drug Epidiolex met the main goals in a late-stage study, while first-quarter sales for the drug were higher than expected. In respon...Read More
ArcelorMittal will reduce output and cut 300 out of 800 jobs at its iron ore mines in Bosnia, the world's largest steelmaker said on Tuesday.Output will be reduced by a third to 1 million tonnes and the job cuts will be carried out from September, it said in a statement.ArcelorMittal operates a steel plant in the central Bosnian town of Zenica which processes iron ore from its Omarska mines in Pri...Read More
The shoe company posted first-quarter earnings and revenue that beat expectationsThe shares of Crocs Inc (NASDAQ:CROX) are popping in early trading, after the firm posted first-quarter earnings of 33 cents per share on $295.9 million in revenue -- both topping analysts' estimates. CROX cited strong e-commerce and wholesale revenue, and said its same-store sales were up 8.7% for the first part of t...Read More
The biotech missed on both the top- and bottom-lineRegeneron Pharmaceuticals Inc (NASDAQ:REGN) stock is trading down 3.7% ahead of the bell, after the biotech reported slimmer-than-expected first-quarter adjusted earnings of $4.45 per share. Regeneron revenue of $1.71 billion also missed the mark. The shares have sold off sharply since their March 4 17-month high of $442. The stock's $330-$335 are...Read More
Indians could buy at least 10 percent more gold during the annual Hindu and Jain holy festival of Akshaya Tritiya than a year ago, industry officials said, as a dip in prices prompted consumers to increase purchases.A rise in consumption by the world's second-biggest gold consumer could help global prices which are currently hovering near a 4-month low, but could widen India's trade deficit and pu...Read More
Robert Lighthizer said tariffs on $200B in Chinese goods will increaseFollowing confirmation by U.S. Trade Representative Robert Lighthizer that tariffs on $200 billion in Chinese goods will increase this Friday, May 10, if no deal is reached, Dow Jones Industrial Average (DJI) futures are once again in the red. Chinese Vice Premier Liu He is expected in the U.S. for trade talks later this week....Read More
Iron ore prices look increasingly caught between the bullish reality of lower supply from Brazil and the bearish possibility of weaker demand if President Donald Trump carries out his threat to ramp up his tariff war against China.The price action in the wake of Trump's Twitter threat on Sunday to ramp up tariffs on $200 billion of imports from China to 25% was indicative of iron ore's dilemma.Tak...Read More
Yamana Gold has announced something huge: a doubling of its dividend. How did it manage that and what does it mean for investors?Read full newsRead More