Southern Copper Corp was declared the winner on Tuesday of the Peruvian government's first auction of the Michiquillay copper project, the first tender in nearly a decade.According to a statement by Southern Copper, controlled by conglomerate Grupo Mexico won the tender with a proposal to transfer $400 million to the government and pay 3% royalties.Southern Copper affirmed Peruvian investmen...Read More
Southern Copper Corp was declared the winner on Tuesday of the Peruvian government's first auction of the Michiquillay copper project, the first tender in nearly a decade.According to a statement by Southern Copper, controlled by conglomerate Grupo Mexico won the tender with a proposal to transfer $400 million to the government and pay 3% royalties.Southern Copper affirmed Peruvian investmen...Read More
By Bruno FederowskiSAO PAULO, Feb 21 (Reuters) - Latin American currencies seesawed on Wednesday as traders awaited the release of the minutes of the Federal Reserve's last policy meeting that could offer clues on the pace of future U.S. interest rate hikes.Currencies from Brazil , Mexico and Chile treaded water, while the Colombian peso weakened 0.8 percent.Traders have been anxiously awaiting ne...Read More
MILAN, Feb 21 (Reuters) - Italy's biggest insurer Assicurazioni Generali said on Wednesday it would increase its investments in the green economy and divest 2 billion euros ($2.5 billion) from coal-related activities.Generali said in a statement that, as part of its climate change strategy, its investments in "green" sectors would be raised by 3.5 billion euros by 2020.It said it would s...Read More
By Kate DuguidNEW YORK, Feb 21 (Reuters) - The U.S. Treasury Department sold $15 billion of two-year floating rate notes on Wednesday, part of a bumper week of sales as the government ramps up issuance to help fund President Donald Trump's major tax overhaul and a two-year budget deal. The 2.75 bid-to-cover ratio was the lowest on record since the issue was introduced in January 2014, according to...Read More
Keith Allaun, chairman at the waste-to-Energy specialist PowerHouse Energy Group Plc (LON:PHE), talks Proactive's Andrew Scott through their deal with Wrightbus Ltd, a company that builds innovative hydrogen powered buses.The memorandum of understanding is expected to lead to a definitive deal for a venture with Powerhouse supplying its Distributed Modular Gasification (DMG) system and Wrightbus s...Read More
Feb 21 (Reuters) - As signs of faster U.S. inflation boost financial market expectations for three or even more interest rate hikes this year, some U.S. central bankers are sticking to their view that aggressive policy tightening is unnecessary."I believe the Federal Reserve should be gradually and patiently raising the federal funds rate during 2018," Dallas Federal Reserve Bank Preside...Read More
Markku Jalkanen, chief executive at Faron Pharmaceuticals Oy (LON:FARN), caught up with Proactive following their ?15mln funding aimed at accelerating the development of its two lead products.Jalkanen says the funds will allow them to prepare the way to market for Traumakine, a treatment for Acute Respiratory Distress Syndrome (ARDS).Results from a phase III trial (INTEREST) are expected early in...Read More
Tech stocks have been on fire this week, surging in part by Qualcomm's (QCOM) boosted buyout bid for NXP Semiconductors (NXPI). One name benefiting from sector tailwinds is Zendesk, Inc. (NYSE:ZEN), with shares of the software developer up 1.9% week-to-date to trade at $43.35, fresh off yesterday's record high of $43.65. If past is precedent, ZEN stock could be headed even higher -- and it looks t...Read More
The numbers are getting uglier for potential homebuyers and homeowners looking to save some money. Mortgage interest rates jumped again last week, causing mortgage application volume to fall 6.6 percent from the previous week. Volume was just 3.5 percent higher than the same week one year ago, according to the Mortgage Bankers Association. Diana Olick| @DianaOlick Published 13 Hours AgoUpdated12...Read More
* U.S. dollar hits one-week high* Euro slips, sterling down on unemployment data* Asian, European, U.S. stocks higher* Two- and 10-year Treasury yields edge lower* Oil down on strong dollar, expected U.S. production increase (Adds Wall Street open; changes dateline to New York; updates throughout)By Hilary RussNEW YORK, Feb 21 (Reuters) - The dollar hit its highest level in a week on Wednesday and...Read More
U.S. stocks are trading higher at midday, with the Dow Jones Industrial Average (DJI) enjoying a triple-digit lead to trade back above the 25,000 mark. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also seeing healthy gains today, as tech and financial stocks outperform. Traders are seemingly shrugging off a steeper-than-expected drop in existing-home sales in January, and are awaiti...Read More
CAPE TOWN, Feb 21 (Reuters) - South Africa expects it could take 18 to 24 months for S&P Global and Fitch to return the country's credit rating to investment grade, Finance Minister Malusi Gigaba told Reuters on Wednesday in an interview.Gigaba said Treasury had "very positive" discussions with ratings agencies on the 2018 budget he earlier presented to parliament, in which the gover...Read More
* Fed minutes on Jan. policy meeting due at 2 pm ET* Broadcom cuts Qualcomm bid to $117 bln* Boeing powers Dow* Indexes up: Dow 0.53 pct, S&P 0.65 pct, Nasdaq 0.85 pct (Changes comment, adds details, updates prices)By Sruthi ShankarFeb 21 (Reuters) - U.S. stocks rose on Wednesday, with technology shares and Amazon driving gains ahead of minutes of the Federal Reserve's most recent policy meeti...Read More
(Updates with closing prices)JOHANNESBURG, Feb 21 (Reuters) - South Africa's rand, bonds and stocks all rallied on Wednesday after Finance Minister Malusi Gigaba unveiled the first value-added tax (VAT) hike in over two decades, part of efforts to cut the deficit and debt under new President Cyril Ramaphosa.Bonds led the charge, with the yield on the benchmark instrument due in 2026 falling 11.5...Read More
Italy's Treasury said on Wednesday it would offer 6 billion euros ($7.4 billion) in 6-month BOT bills at auction on February 26.6-mth BOTAUCTION DATEFebruary 26SETTLEMENT DATE February 28MATURITYAugust 31, 2018AMOUNT OFFERED 6 blnEXPIRING AMOUNT 6 bln ($1 = 0.8127 euros) (Milan newsroom)Keywords: ITALY BILLS/ANNOUNCEMENT Disclaimer: The views expressed in this article are those of the author and...Read More
Chesapeake Energy Corporation (NYSE:CHK) stock has been anything but impressive in the session following the natural gas producer's recent earnings reports. Over the past four quarters, CHK has closed lower the next day each time, averaging a loss of 5.1%. Nevertheless, options traders have been loading up on long calls in recent weeks, ahead of the company's fourth-quarter results -- due out ahea...Read More
* Euro down, PMIs weaker than expected* Traders eye Fed minutes (Updates throughout to U.S. market open, changes dateline; previous LONDON)By Saqib Iqbal AhmedNEW YORK, Feb 21 (Reuters) - The dollar rose on Wednesday, extending its recovery from a three-year low last week, helped by buoyant short-term Treasury yields, and as traders awaited the release of minutes of the Federal Reserve's recent po...Read More
By Huw JonesLONDON, Feb 21 (Reuters) - European Union representatives have sought to reassure the United States that plans to tighten oversight of foreign clearing houses operating in the bloc will not disrupt transatlantic ties on market access that took years to agree.The EU has proposed giving its regulators stronger powers to supervise "systemic" or large foreign clearing houses hand...Read More
RIGA, Feb 21 (Reuters) - Latvian President Raimonds Vejonis said on Wednesday his country must improve its efforts to tackle money-laundering and other forms of corruption, following a series of allegations that have rocked the small Baltic state's financial sector."Several separate events in the last few days show that in the short- and medium-term we have to continue implementing improvemen...Read More