Canadian miners' performance slipped in the three months leading to the end of September, due mostly to weaker gold, nickel, copper and zinc prices, the latest report by consultancy Ernst & Young (EY) reveals.Following a 5% drop between April and June this year, gold prices decreased by another 5% in the third quarter, mainly due to the strong US dollar and the recent Federal Reserve rate hike of...Read More
Image courtesy of Rob Crandall/Shutterstock.com(Kitco News)- American voters are heading to the polls today to casttheir ballot in the much-anticipated midterm elections.Political pundits expect to see a split Congress with theDemocratic Party taking control of the House and the Republican Partymaintaining control of the Senate. While equity market and U.S. dollarinvestors appear to be favoring a...Read More
BELFAST (Reuters) - The United Kingdom is heading toward leaving the European Union without a divorce deal, a senior member of the Northern Irish party which props up Prime Minister Theresa May’s government said on Tuesday.With less than five months until Britain is due to exit the EU, May has yet to clinch a divorce deal, with negotiators stuck on the so-called “backstop” arrang...Read More
Image courtesy of Rob Crandall/Shutterstock.com (Kitco News) - American voters are heading to the polls today to cast their ballot in the much-anticipated midterm elections.Political pundits expect to see a split Congress with the Democratic Party taking control of the House and the Republican Party maintaining control of the Senate. While equity market and U.S. dollar investors appear to be...Read More
SHANGHAI - State-owned metals and mineral trading firm China Minmetals signed a 20 million tonne iron ore purchase agreement with Brazilian mining giant Vale on Tuesday.The agreement was signed during a ceremony at the China International Import Expo in Shanghai.China is the world's biggest consumer of the steelmaking ingredient.Minmetals also signed a 2,400 tonne nickel briquette purchase agreeme...Read More
(Kitco News) - Gold priceshave lost early gains and are trading modestly down inlate-morning action Tuesday. Gold lost altitude when the U.S. dollar index erased its mild early losses and as U.S. stock indexes did the same. Look forsubdued trading in the metals the rest of the day as the world marketplaceawaits the U.S. mid-term election results. December gold was last down $2.40 at$1,229.90. By...Read More
LONDON (Reuters) - Bitcoin has experienced one of its worst annual price performances of its short 10-year-old life but also appears to have become more stable in the process.Volatility of the original and biggest cryptocurrency has sunk to its lowest for nearly two years, with price swings falling lower than increasingly edgy U.S. stocks for more than two weeks in a row.Measured on a weekly basis...Read More
TALLAHASSEE, Fla. (Reuters) - Showdowns in Georgia and Florida pitting black Democratic candidates against white Republicans supported by President Donald Trump headline the three dozen governors’ races being contested in Tuesday’s U.S. elections.In Georgia, Stacey Abrams is vying to become the nation’s first African-American female governor. She and Andrew Gillum in Florida woul...Read More
SYDNEY - Iron ore shipments to China from Australia's Port Hedland terminal fell 12 percent in October from a month earlier, port data released on Tuesday showed.Iron ore shipments to China from the world's biggest iron ore port totalled 32.8 million tonnes in October, compared with September's 37.4 million tonnes, according to the Pilbara Ports Authority.The October figure was also down 7 percent...Read More
JOHANNESBURG - South Africa's Harmony Gold reported a 30-percent jump in quarterly total production, the miner said on Tuesday, boosted by its Hidden Valley and Moab Khotsong mines.Total gold production in the first quarter ended September jumped to 11,773 kg from 9,040 kg in the comparable quarter last year. The total gold production decreased by 2 percent quarter-on-quarter, the company said."We...Read More
JOHANNESBURG - South Africa's Harmony Gold reported a 30-percent jump in quarterly total production, the miner said on Tuesday, boosted by its Hidden Valley and Moab Khotsong mines.Total gold production in the first quarter ended September jumped to 11,773 kg from 9,040 kg in the comparable quarter last year. The total gold production decreased by 2 percent quarter-on-quarter, the company said."We...Read More
Puts have been popular for all three namesMorgan Stanley just doled out price-target hikes to auto parts stocks AutoZone, Inc. (NYSE:AZO), O'Reilly Automotive Inc (NASDAQ:ORLY), and Advance Auto Parts, Inc. (NYSE:AAP). The analyst in coverage sees the shares of AZO, ORLY, and AAPoutperforming in the next year, with tariff-related issues and e-commerce risks "at bay" for now. Morgan Stanley Sets...Read More
The stocks are moving in opposite directions todayAmicus Therapeutics, Inc. (NASDAQ:FOLD) and Mylan N.V. (NASDAQ:MYL) both reported third-quarter earnings yesterday evening, and analysts are reacting to the numbers. Below is a brief breakdown of this morning's trading action around shares of FOLD and MYL. FOLD Stock Down After Earnings Starting with Amicus, investors are picking through the numbe...Read More
NEW YORK - Gold-backed exchange-traded funds (ETFs) registered increased inflows to both North American and European funds during October, as tumultuous equity markets triggered flight-to-quality buying, the World Gold Council said on Tuesday.North American funds had inflows of $561 million while European funds posted inflows of $678 million last month, according to figures provided by the Council...Read More
SAN FRANCISCO (Reuters) - U.S. President Donald Trump has taken credit for the stock market’s gains during his nearly two years in the White House, and those claims are reasonable given the impact of tax cuts and pro-business policies on investor sentiment.The S&P 500 has risen 28 percent since Trump’s election in November 2016 to the eve of congressional midterm elections on Tuesd...Read More
BEIJING (Reuters) - U.S. billionaire philanthropist Bill Gates unveiled on Tuesday in Beijing a futuristic toilet that doesn’t need water or sewers and uses chemicals to turn human waste into fertilizer.The Microsoft Corp (MSFT.O) co-founder, who a day earlier was one of the high profile guests at a major trade event in Shanghai, also lauded the globalized and free trade systems that made th...Read More
• Cautious mood underpins safe-haven demand and helps gain positive traction. • Subdued USD price action, ahead of the US midterm elections, remains supportive. • Fed rate hike expectations might keep a lid ahead of Thursday’s FOMC decision. Gold reversed an early dip to sub-$1230 level and is now holding with modest...Read More
LONDON - European automakers BMW and Volvo plan to experiment with steel contracts to be launched by the London Metal Exchange early next year, a move which could eventually change the way the industry hedges and prices contracts, industry sources said.The LME is launching three hot rolled coil (HRC) steel futures covering Europe, North America and China early next year, and industry sources told...Read More
WASHINGTON (Reuters) - After a divisive campaign marked by fierce clashes over race, immigration and other cultural issues, Americans began casting votes early on Tuesday to determine the balance of power in the U.S. Congress and shape the future of Donald Trump’s presidency.The first national elections since Trump captured the White House in a stunning 2016 upset will be a referendum on the...Read More
LONDON, Nov 6 (Reuters) - Italian government bond yields rose further on Tuesday after Valdis Dombrovskis, vice president of the European Commission, said the Commission was considering sanction procedure against Italy if it does not revise its budget by Nov 13.Italy's 10-year government bond yield rose to a session high at 3.418 percent, up nine basis points on the day, pushing the Italy/Germany...Read More