The S&P 500 Index (SPX) last week suffered its worst week since 2016. However, U.S. stocks have been on a tear since then, with the major market indexes pacing for their sixth straight gain, and the SPX on track for its best week since December 2011, up 4.7% so far. Should these gains hold, it would send up a stock market signal not seen since 2001.S&P Pacing for 10th Signal EverSpecifically, the...Read More
ACCRA, Feb 16 (Reuters) - The Bank of Ghana said the yield on its weekly 91-day bill dipped to 13.34 percent at an auction on Friday from 13.36 percent at the last such sale, on Feb. 9.The bank said it had accepted all 447.14 million cedis ($100 million) worth of bids tendered for the paper, which will be issued on Monday.Ghana's treasury bill yields have stayed around 13 percent since August afte...Read More
(Bloomberg) - Sweden will step up efforts to find precious minerals such as cobalt and lithium, key battery components that are increasingly in demand among makers of electric vehicles.The government will invest 10 million kronor ($1.26 million) over the next two years to map the existence of minerals deemed important for future growth. While Sweden has a history of mining for base metals, the Ge...Read More
(Bloomberg) - A deal that kept the peace at Russia's biggest mining company for more than five years is starting to fray, leaving three billionaires fighting over the next move.Attorneys for Oleg Deripaska, Vladimir Potanin and Roman Abramovich faced off in London court on Friday in a conflict triggered by Abramovich's desire to sell his stake in MMC Norilsk Nickel PJSC, which could shift the sha...Read More
(Kitco News) - WallStreet analysts have once again joined Main Street with a bullish short-termoutlook on gold, based on the weekly Kitco News gold survey. Wall Street Bullish Bearish Neutral VSMain Street Bullish Bearish Neutral Twentymarket professionals took part in the Wall Street survey, with twelve, or 60%,calling for gold to rise in the next week. Previously, Wall Stree...Read More
(Kitco News) - Wall Street analysts have once again joined Main Street with a bullish short-term outlook on gold, based on the weekly Kitco News gold survey. Wall Street Bullish Bearish Neutral VS Main Street Bullish Bearish Neutral Twenty market professionals took part in the Wall Street survey, with twelve, or 60%, calling for gold to rise in the next week. Previ...Read More
* Stocks shrug off inflation fears: * The long view: stocks vs. bonds: * Bond yield rise cuts equity risk premium: By Ritvik CarvalhoLONDON, Feb 16 (Reuters) - Global stocks seem to have finally stopped worrying about their bond market cousins.The last few weeks' turbulence on world equity markets was triggered largely by a slide in U.S. Treasuries that saw 10-year borrowing costs surge towards 3...Read More
Shares in Rio Tinto-controlled Turquoise Hill Resources opened 3% lower on Friday after the Mongolian government reinstated a decade-old agreement ordering the Vancouver-based company to source power for its Oyu Tolgoi mine domestically.Rio Tinto, down 1.8% in New York, could face higher costs on its $5.3 billion underground expansion of the giant copper-gold mine in the South Gobi desert near t...Read More
Shares in Rio Tinto-controlled Turquoise Hill Resources opened 3% lower on Friday after the Mongolian government reinstated a decade-old agreement ordering the Vancouver-based company to source power for its Oyu Tolgoi mine domestically.Rio Tinto, down 1.8% in New York, could face higher costs on its $5.3 billion underground expansion of the giant copper-gold mine in the South Gobi desert near t...Read More
Offshore drilling contractor Transocean Ltd. (NYSE:RIG) is slated to report fourth-quarter earnings after the market closes next Tuesday, Feb. 20, with consensus estimates calling for a loss of 27 cents per share. RIG has managed to trade higher the day after earnings following six of its last eight quarterly reports -- but ahead of next week's reports, traders on Wall Street appear to be bracing...Read More
The gold miners' stocks weathered the recent stock-market plunge really well. As evident in their leading GDX ETF, they were already beaten down before stock markets started falling. The resulting explosion of fear bled into GDX, forcing it even lower. Nevertheless, no major technical damage was done. GDX remained well within its consolidation trend channel and is still within striking dis...Read More
The gold miners' stocks weathered the recent stock-market plunge really well. As evident in their leading GDX ETF, they were already beaten down before stock markets started falling. The resulting explosion of fear bled into GDX, forcing it even lower. Nevertheless, no major technical damage was done. GDX remained well within its consolidation trend channel and is still within striking dis...Read More
Larry Johnson, chief executive of Kennedy Ventures PLC (LON:KENV), tells Proactive a fourth shipment has now been made from the Namibian tantalum mine to their customer with purity of the shipment a high grade 51%.He adds that a change of strategy is also planned now that the initial ramp-up of the mine has been carried out, with the board to look for new projects in Africa. Meet Medusa Mini...Read More
* Sales process to begin quickly, but no time frame given* Condition of sale that company retain its "green" profile* Boards, shareholders both satisfied with arbitration (Updates with details, background)By Toby SterlingAMSTERDAM, Feb 16 (Reuters) - Dutch energy company Eneco, valued at up to 4 billion euros ($5 billion), will be privatised after its municipal shareholders and managemen...Read More
CENTENNIAL, Colo., Feb. 16, 2018 (GLOBE NEWSWIRE) - NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX:NB) (OTCQX:NIOBF) (FSE:BR3) today praised the Trump Administration for proposing that NioCorp's entire planned product suite of three superalloy metals - niobium, scandium, and titanium - be considered as "Critical Minerals" under President Trump's December 20, 2017 Executive Order a...Read More
(Adds share price)MEXICO CITY, Feb 16 (Reuters) - Shares of Mexican broadcaster Televisa surged on Friday after the company announced it had reached an agreement to sell its 19 percent stake in Imagina, a Spanish media group, for 284 million euros (6.558 billion pesos).Televisa, the biggest producer of content in Spanish, said it plans to sell certain operations that are no longer strategic to fo...Read More
* Rand eases slightly on profit-taking ahead of speech* Stocks fall amid profit taking (Adds latest prices)JOHANNESBURG, Feb 16 (Reuters) - South Africa's rand surrendered some gains on Friday but remained near its three-year best ahead of Cyril Ramaphosa's maiden state of the nation address after he was sworn in as the country's president. Stocks fell on Friday amid profit-taking after the main i...Read More
EURUSD An downtrend will start as soon, as the market drops below support level 1.2490, which will be followed by a move down to support level 1.2450 and 1.2378.An uptrend will start as soon as the market rises above resistance level 1.2550, which will be followed by a move up to resistance level 1.2640. GOLD The market is trading along an uptrend with target on 1365, that may be expected to cont...Read More
Nike Inc (NYSE:NKE) stock is up 0.9% to trade at $68.88, and earlier tagged a new record high of $68.98, after the shoe giant received a price-target hike to $80 from $74 at Stifel -- a roughly 16% premium to its current perch. Nike shares are now up 4.9% week-to-date, and on track for their best weekly performance since Dec. 15. This positive price action is just more of the same for NKE stock,...Read More
(Recasts, adds analyst comment, table, byline, updates prices in text)By Gertrude Chavez-DreyfussNEW YORK, Feb 16 (Reuters) - U.S. Treasury prices rose on Friday, as investors bought back bonds after a selloff earlier in the week spurred by robust U.S. inflation data that raised the possibility the Federal Reserve may hike interest rates at a faster pace than expected.U.S. benchmark 10-year yields...Read More