* Fees estimated at less than 0.2 pct of listing* Financial reward smaller than other big IPOs* Bankers jostling for mandates for league table credit, prestige* Also hoping for piece of larger Vision 2030 pie By Dasha Afanasieva and Clara Denina LONDON, Jan 17 (Reuters) - The banks that will advise and execute Saudi Aramco's stock market listing are expected to share a tiny proportion of the $100...Read More
* ECB officials raise concerns about surging common currency* Dollar finds respite but outlook remains grim* Cryptocurrency rout accelerates on clampdown worries* Canadian dollar weakens as BOC rings cautious tone (Updates market action, changes dateline, previous LONDON)By Richard LeongNEW YORK, Jan 17 (Reuters) - The euro slipped on Wednesday, pulling back from a three-year high above $1.23 as s...Read More
(Kitco News)- While gold faces a lot of headwinds at the start of a new year, analystsat Scotiabank said that this could be the market’s biggest strength.In a recent report, the analysts explained that gold remains anattractive diversifier as global equity markets continue to hit record levels.“Perhaps it is because of the strength in other markets and theapparent complacency regarding...Read More
(Kitco News) - While gold faces a lot of headwinds at the start of a new year, analysts at Scotiabank said that this could be the market’s biggest strength.In a recent report, the analysts explained that gold remains an attractive diversifier as global equity markets continue to hit record levels.“Perhaps it is because of the strength in other markets and the apparent complacency regar...Read More
U.S. stocks have been on fire in 2018 so far, with the Dow rallying more than 1,000 points in under 10 sessions, and the Nasdaq and S&P 500 Index (SPX) carving out record highs of their own. However, the stock market rally may have gotten ahead of itself, if a recent overbought indicator is any tell. Last week, 208 of the 500 SPX stocks notched new 52-week highs, according to Schaeffer's Quantitat...Read More
OSLO, Jan 17 (Reuters) - Some of Europe's richest deposits of valuable materials are in the trash, ranging from gold in smartphones to cobalt in electric car batteries, according to a survey of urban mining published on Wednesday.Scrap vehicles, batteries, computers, fridges and other electronic and electrical waste total about 18 million tonnes a year and contain materials worth billions of dolla...Read More
OSLO, Jan 17 (Reuters) - Some of Europe's richest deposits of valuable materials are in the trash, ranging from gold in smartphones to cobalt in electric car batteries, according to a survey of urban mining published on Wednesday.Scrap vehicles, batteries, computers, fridges and other electronic and electrical waste total about 18 million tonnes a year and contain materials worth billions of dolla...Read More
OSLO, Jan 17 (Reuters) - Some of Europe's richest deposits of valuable materials are in the trash, ranging from gold in smartphones to cobalt in electric car batteries, according to a survey of urban mining published on Wednesday.Scrap vehicles, batteries, computers, fridges and other electronic and electrical waste total about 18 million tonnes a year and contain materials worth billions of dolla...Read More
Mick Billing, chief executive of Thor Mining PLC (LON:THR) tells Proactive's Andrew Scott a mineral resource estimate for the Kapunda copper project in Australia is just around the corner.Billing also updates on developments at Thor's other projects as well as touching on the news this week that US Lithium - in which Thor holds a 25% stake - is looking to list on the Australian Securities Exchange...Read More
(Kitco News) - Despitereaching all-time highs this week, one famed investor says that any long-termrallies in the market won’t hold. Robert Kiyosaki,best-selling author of “Rich Dad Poor Dad” and his latest book “Why The RichAre Getting Richer,” said that a market crash is imminent within the next twoto three years. The S&P 500Index has sustained its second-longes...Read More
(Kitco News) - Despite reaching all-time highs this week, one famed investor says that any long-term rallies in the market won’t hold. Robert Kiyosaki, best-selling author of “Rich Dad Poor Dad” and his latest book “Why The Rich Are Getting Richer,” said that a market crash is imminent within the next two to three years. The S&P 500 Index has sustained its second-...Read More
TRIPOLI, Jan 17 (Reuters) - Libya's currency has gained sharply on the informal market, rising to around six dinars to the dollar on Wednesday compared with around nine dinars to the dollar at the start of the year.The dinar's gains came as the central bank launched this year's programme for selling limited quantities of dollars to citizens at the official exchange rate of 1.3 dinars. One black ma...Read More
(Adds aid worker comment)RIYADH, Jan 17 (Reuters) - Saudi Arabia's King Salman ordered a deposit of $2 billion to be paid into Yemen's central bank on Wednesday to shore up the weak Yemeni currency, the Saudi government said.The move was made a day after the Yemeni prime minister issued a public plea for funds to prop up the rial and help stave off hunger in the war-torn country."It's not a...Read More
Discount retailers Dollar Tree, Inc. (NASDAQ:DLTR) and Dollar General Corp. (NYSE:DG) earned some analyst love today, after Oppenheimer initiated coverage with "outperform" ratings. The brokerage attributed the bullish notes to attractive growth prospects for the retailers over the long term, initiating price targets of $130 and $112, respectively, for DLTR and DG stocks -- in uncharted territory....Read More
Apple Inc. (NASDAQ:AAPL) has put in a strong technical performance over the long term, with the stock boasting a 46.8% year-over-year lead -- and fresh off yesterday's record high of $179.39. And while the bulk of the 29 analysts covering shares maintain a "buy" or better rating, Longbow Research issued a rare Apple downgrade this morning.Specifically, the brokerage firm cut its rating on AAPL sto...Read More
(Kitco News) - Those heady Bitcoin-U.S. dollar traders who climbed onboard the bullish bandwagon after prices pushed above $10,000 a few weeks agoare now under water--after many had doubled their money in just a short time.Bitcoin-U.S. Dollar prices have careened lower in late-morning tradingWednesday and hit a six-week low. The weak-handed longs are bailing out oftheir big losing positions, and t...Read More
(Kitco News) - Those heady Bitcoin-U.S. dollar traders who climbed on board the bullish bandwagon after prices pushed above $10,000 a few weeks ago are now under water--after many had doubled their money in just a short time. Bitcoin-U.S. Dollar prices have careened lower in late-morning trading Wednesday and hit a six-week low. The weak-handed longs are bailing out of their big losing positions,...Read More
By Emmanuel Tumanjong Special to Dow Jones Newswires YAOUNDE, Cameroon--Glencore Exploration Cameroon Ltd. has sold 50% of its stake in the Bolongo block in the Rio del Rey basin to Perenco Cameroon SA, Cameroon's national oil-and-gas company has said. Under the deal, private company Perenco will own the rights to develop and produce oil in the block's Oak well, the state-run National Hydrocarbon...Read More
(Adds new quote, adds BoE speech details, updates prices)* Graphic: sterling and gilt yields * Graphic: World FX rates in 2017 * Graphic: Trade-weighted sterling since Brexit vote By Tommy Wilkes and Jemima KellyLONDON, Jan 17 (Reuters) - Sterling steadied close to its highest levels against the dollar since Britain's vote to leave the European Union in 2016 on Wednesday, as traders took profits...Read More
(Kitco News) - The Bank of Canada raised its key interest rate to 1.25% on Wednesday, hiking rates for the third time since last summer. Gold priced in Canadian dollars jumped up on the news, last trading at C$1,668.18 an ounce, up 0.24% on the day, according to Kitco’s Gold-Currency charts. The decision was widely expected, as market odds projecting a rate hike were close to 90% prior to th...Read More