LONDON, April 20 (Reuters) - German shipping group Oldendorff Carriers is stopping its business in Guyana, the company said on Friday, after the United States blacklisted Russian aluminium producer Rusal, which has a plant in the South American country.The United States on April 6 imposed sanctions against Russian entities and individuals to punish Moscow for its alleged meddling in the 2016 U.S....Read More
There's heavy put open interest at out-of-the-money AAPL putsAfter falling nearly 3% on Thursday, Apple Inc. (NASDAQ:AAPL) stock is down another 3.1% today to trade at $167.40. The latest pullback was sparked by a round of bearish analyst attention, with one firm calling for the end of the iPhone X. Morgan Stanley, meanwhile, trimmed its price target to $200 from $203, saying it expects iPhone shi...Read More
(Bloomberg) - South Africa's Eskom Holdings SOC Ltd. has permission to circumvent some purchasing rules in order to boost critically low coal stocks at several of its power stations and avoid a return to rolling power cuts.The state-owned utility is seeking coal for seven of its plants that are facing shortages after supply disruptions from Gupta family-controlled mines that are under business re...Read More
Ontario is supporting expanded transportation infrastructure that will help move people and freight into and across the North while creating 46 new jobs.Glenn Thibeault, MPP for Sudbury, made the announcement today on behalf of Michael Gravelle, Minister of Northern Development and Mines at the Greater Sudbury Airport. Through funding from Ontario's Northern Ontario Heritage Fund Corporation (NOHF...Read More
BEIJING (Reuters) - China has long pushed the development of top-end semiconductors as a key strategic objective.Now, as a trade war with the United States looms, a government decision to accelerate the development of the domestic chip industry underlines how far those goals have fallen short.Senior Chinese officials are increasingly concerned about stalling efforts to improve domestic chip design...Read More
COPENHAGEN, April 20 (Reuters) - With melting ice expanding access to the Arctic, investors from China to Canada are watching Greenland's election next week for signs of the political will to get a flagging mining programme on the island back on track.Greenland is hoping rising commodity prices can help attract foreign investment and get its fragile economy up to speed to realise a long-term goal...Read More
The fear trade that drove capital short term into precious metal relative securities is over.Momentum energy on technical and fundamental noise is tiring.Longer-term drivers of capital to risky assets remain in place and are a drag against gold.Time to take profits and remove excess hedges in gold and silver and relative securities.Bad case scenarios did not play out relative to the strike on Syri...Read More
LONDON/CHICAGO (Reuters) - Procter & Gamble’s $4.2 billion deal for Merck’s vitamin and supplements business demonstrates that major consumer companies remain hungry for health-related products.The fragmented nature of the sector and its appeal to younger consumers makes further M&A activity a likely prospect even after a spate of recent acquisitions.The U.S.-based maker of Tid...Read More
(Reuters) - Wells Fargo & Co has agreed to pay $1 billion in penalties to federal regulators to settle a probe into abuses at its auto and mortgage businesses, the bank and regulators said on Friday, confirming an earlier Reuters report.The settlement is the most aggressive move by regulators during the Trump administration to punish a major bank and follows revelations that the United States'...Read More
Nickel Call – BUY Nickel at cmp 964.50 for Target 972 – 978 with Small SL below price 959. RISK taker trade 2 lotsAFTER POST CONTENT Read More
(Bloomberg) - Two years ago, a commodity trading house started stockpiling thousands of tons of aluminum near a bend in the Mississippi River outside New Orleans.Now Castleton Commodities International LLC, the trader backed by hedge fund luminaries including Paul Tudor Jones, is sitting on a veritable gold mine as a scramble for aluminum unfolds in the wake of U.S. sanctions against United Co. R...Read More
Twitter is set to report its quarterly earnings this WednesdayShares of Twitter Inc (NYSE:TWTR) are higher in today's trading, after MKM Partners upgraded the stock to "buy" from "neutral," and initiated a $40 price target -- a roughly 27% premium to last night's close, and territory not charted since April 2015. Analyst Rob Sanderson said it thinks the company is removed from Facebook's (FB) data...Read More
P&G shares are just off their worst day in nearly five yearsProcter & Gamble Co (NYSE:PG) stock is down 1% to trade at $74.21, and just touched a two-year low of $74.16, as analysts continue to react to the company's subpar earnings report yesterday. Deutsche Bank and BofA-Merrill Lynch both downgraded the blue-chip stock to "hold" from "buy," while issuing price-target cuts to $80 and $82, respec...Read More
Wedbush cut its rating and slashed its price target for SKX stockSkechers USA Inc (NYSE:SKX) reported better-than-expected first-quarter profit of 75 cents per share on in-line revenue of $1.25 billion. However, the shoemaker gave a weak forecast for the current quarter, sending SKX stock down 26.1% to trade at $31.09 -- its lowest point since November.A round of bearish brokerage notes is only ad...Read More
MAZOWE, Zimbabwe, April 20 (Reuters) - A farm owned by Robert Mugabe's wife Grace is at the centre of a legal dispute after hundreds of illegal gold miners invaded parts of the property and started mining gold.A Reuters photographer saw hundreds of illegal miners digging for gold at the Smithfield citrus farm using picks and shovels, the tools of choice for most illegal miners in Zimbabwe.Once gua...Read More
(Reuters) - General Electric Co (GE.N) posted quarterly results that topped expectations on Friday, as earnings from aviation, healthcare and transportation offset weak power and oil-and-gas profits, sending shares sharply higher in premarket trading.GE also affirmed its forecast for 2018 earnings and cash flow, and said it expects to book as much as $10 billion in proceeds from divesting industri...Read More
(Reuters) - U.S. stock futures were little changed on Friday as strong earnings from industrials General Electric and Honeywell were offset by a dip in oil prices after President Donald Trump criticized OPEC for artificially high prices.GE (GE.N) posted quarterly results that topped estimates and affirmed its 2018 forecasts sending its shares up 6.7 percent in premarket trading in what one analyst...Read More
(Kitco News) - Gold have dropped to their session lows in morning tradingFriday. The down-move in the yellow metal came as the U.S. dollarindex pushed to its daily high. Some profit-taking from the shorter-termfutures traders is also featured heading into the weekend. Sell stop orderswere also triggered in the futures market, when chart support levels werebreached on the move lower. June gold wa...Read More
SANTIAGO, April 20 (Reuters) - Chilean copper commission Cochilco forecast on Friday that Chile would produce 5.76 million tonnes of the red metal in 2018, up 4.3 percent from 2017, while estimating copper prices at $3.06 per pound this year.The projections follow a difficult year for the world's top copper producer in 2017, after workers at BHP's Escondida copper mine, the world's largest, walked...Read More
(Kitco News) - Gold have dropped to their session lows in morning trading Friday. The down-move in the yellow metal came as the U.S. dollar index pushed to its daily high. Some profit-taking from the shorter-term futures traders is also featured heading into the weekend. Sell stop orders were also triggered in the futures market, when chart support levels were breached on the move lower. June go...Read More