Trump tweeted about "productive conversations" with BeijingFollowing Monday's volatile session, Dow Jones Industrial Average (DJIA) futures are trading more than 375 points above fair value this morning on news of fresh trade talks between Washington and Beijing. In addition to an overnight phone call between Treasury Secretary Steven Mnuchin, U.S. Trade Representative Robert Lighthizer, and Chine...Read More
Getty ImagesMorning Glory Diner in Philadelphia, Pennsylvania. The numbers: The National Federation of Independent Business small-business optimism index fell 2.6 points in November to a seasonally adjusted level of 104.8, the lowest in seven months. Most of the decline coming from expectations about future sales and business conditions. What happened: No components of the index gained during...Read More
GABORONE - Mowana Mine, Botswana's only operating copper mine, has suspended operations due to working capital constraints which has seen the company fail to pay salaries and suppliers, it said on Tuesday.Mowana had a conditional $4 million working capital facility from Fujax Minerals and Energy Limited, from which it had drawn down $1 million.Copper prices on the international market have been re...Read More
GABORONE - Mowana Mine, Botswana's only operating copper mine, has suspended operations due to working capital constraints which has seen the company fail to pay salaries and suppliers, it said on Tuesday.Mowana had a conditional $4 million working capital facility from Fujax Minerals and Energy Limited, from which it had drawn down $1 million.Copper prices on the international market have been re...Read More
Fred Imbert| @foimbertPublished 16 Hours AgoUpdated2 Hours AgoCNBC.com show chapters Citi's top strategist says this is why he's betting on the bulls into the end of the year and beyond 2 Hours Ago |04:31 The Dow Jones Industrial Average closed lower on Tuesday after alternating between gains and losses throughout the session in the latest bout of market volatility.Th...Read More
The 64-week moving average for AAPL just switched roles to act as resistanceIt wasn't that long ago that Wall Street was celebrating Apple's (AAPL) record-setting incursion into trillion-dollar market cap territory -- and so the spate of recent headlines (perhaps colored with the faintest tint of Schadenfreude?) crowing that Microsoft (MSFT) had now surpassed its cooler, upscale rival in terms of...Read More
Lithium Australia (ASX: LIT) announced today that it has expanded its holdings in Western Australia by completing the formalities on an option over the Youanmi lithium project, located in the Archean Yilgarn Block, 450 kilometres north-east of Perth.In a media statement, Lithium Australia said that the project consists of three exploration licences that were secured through completion of a binding...Read More
Antipa Minerals (ASX:AZY), the company conducting exploration at a Western Australia-based copper project with partner Rio Tinto (ASX, LON, NYSE:RIO), said Tuesday it had so far failed to find any economically viable veins of ore at the asset.In an update Tuesday, the junior miner noted "weak mineralization" in the Folly target area that is part of the Citadel project, located in the Paterson pro...Read More
Global miner Anglo American (LON:AAL) is ending 2018 on a high note, the company reported Tuesday. Anglo expects total production for the year to be 2% above of previous guidance, with costs decreasing by 5%."We are also confident about the outlook, with production expected to increase by 3% in 2019, with cost inflation fully absorbed by our productivity and cost improvements," chief executive M...Read More
Global miner Anglo American (LON:AAL) is ending 2018 on a high note, the company reported Tuesday. Anglo expects total production for the year to be 2% above of previous guidance, with costs decreasing by 5%."We are also confident about the outlook, with production expected to increase by 3% in 2019, with cost inflation fully absorbed by our productivity and cost improvements," chief executive M...Read More
Published 22 Hours AgoUpdated6 Hours AgoReuters Gold held steady near a five-month peak on Tuesday as fading expectations of further interest rate hikes in the United States burnished the appeal of non-interest-bearing bullion.Meanwhile, palladium was trading at a premium to gold, with prices of the autocatalyst metal rising more than 2 percent after President Donald Trump said on Twitter that Chi...Read More
Published 22 Hours AgoUpdated6 Hours AgoReuters Gold held steady near a five-month peak on Tuesday as fading expectations of further interest rate hikes in the United States burnished the appeal of non-interest-bearing bullion.Meanwhile, palladium was trading at a premium to gold, with prices of the autocatalyst metal rising more than 2 percent after President Donald Trump said on Twitter that Chi...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rose slightly after recovering from a 500-point drop on Monday following last week's 4.5% tumble. Apple Inc. (AAPL) rose in spite of a court in China granting an injunction that would limit the sale of iPhones into the world's biggest smartphone market.Gilead Sciences Inc. (GILD) named industry vete...Read More
The U.K. pound plunged past an 20-month low Monday after Prime Minister Theresa May moved to delay a key parliamentary vote on her Brexit deal that looked certain to be rejected by lawmakers, throwing both her government and the broader plans to leave the European Union in chaos. The Prime Minister said she would delay the vote, which was slated to begin late Tuesday, as she seeks to find suppor...Read More
Base metal prices started the trading week on the back foot on the London Metal Exchange, with all bar nickel falling from Friday's closing prices on Monday December 10.The three-month lead price was the biggest loser, dropping 2.2% to close $1,950.50 per tonne. Three-month aluminium also took a hit - it closed 0.9% lower at $1,955 per tonne.Far from rallying after a thawing in US-China trade rela...Read More
Aurubis Executive Board chairman J? 1/4 rgen Schachler will leave the company on June 30 next year, the company said in a release today.The company has begun looking for a successor but has yet to find one.Aurubis is Europe's largest copper smelting company, producing over 1.1 million tonnes per year of refined copper at...Read More
McClellan Financial Publications, IncPosted Dec 10, 2018December 06, 2018Housing sector stocks have been among the worst performers in 2018, and analysts are pointing to lots of different reasons including the newly imposed U.S. tariffs on Canadian softwood lumber.But an easier explanation arises when we look at interest rates.Mortgage rates are not yet empirically “high”.I bought my f...Read More
Comex copper prices softened on Monday morning in the United States amid weak Chinese data and continued equity market weakness.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 2.25 cents to $2.7370 per lb."We expect copper prices to strengthen in the coming days," Fastmarkets analyst Boris Mikanikrezai said. "Although there is plenty of uncert...Read More
The Chinese ferro-silicon market climbed further on renewed demand in the week ended Friday December 7, while European prices have been hemmed in while suppliers and consumers negotiate long-term delivery settlements. China market gets boost from demand Tight supply underpins market strength European prices stabilize losses US ferro-silicon prices flat amid inactivityThe recent increase in domesti...Read More
Steel mills in China have lowered their bids for alloys, while ores resisted some downward pressure and some buyers secured deals at lower prices in the week ending Friday December 7. Lower and higher grade ore prices rangebound in cif market Low grade fob index increases on falling freight rate Alloy price in China falls Ferro-manganese into Europe soars US alloys unmoved in quiet spot marketThe...Read More