Gold prices finished Monday with a modest gain after settling at a two-week low in the previous session, with the dollar showing some weakness and U.S. stocks on the decline. June gold GCM19, +0.04% on Comex added $1.60, or 0.1%, to settle at $1,277.30 an ounce. It ended Friday at $1,275.70, the lowest most-active contract finish since May 2, according to FactSet data. Gold futures logged a weekl...Read More
Gold prices finished Monday with a modest gain after settling at a two-week low in the previous session, with the dollar showing some weakness and U.S. stocks on the decline. June gold GCM19, +0.03% on Comex added $1.60, or 0.1%, to settle at $1,277.30 an ounce. It ended Friday at $1,275.70, the lowest most-active contract finish since May 2, according to FactSet data. Gold futures logged a weekl...Read More
The London Metal Exchange (LME) nickel market was last week gripped by the most acute tightness in a decade.Time-spreads flexed into backwardation as a long-running downtrend in exchange stocks squeezed short position holders.Falling inventory and tighter spreads are normally strong bull signals in a commodity market.And in nickel's case they seem to tally nicely with the International Nickel Stud...Read More
Norwegian metals maker Norsk Hydro has been given the go ahead by a Brazilian federal court to resume full output from the company's Alunorte alumina refinery, it said on Monday.The plant, a key supplier to the aluminium industry, currently operates at half of its capacity after a spill in February 2018 that prompted regulators and courts to restrict output.A restart of Alunorte will bring a signi...Read More
Investors don't realize that gold is one of the world's most liquid currencies and assets, trading with volumes equivalent to those of the euro or U.S. Treasury bond benchmarks.Although similar in philosophy, gold blows Bitcoin away on any measure by which the two can be compared.Now is the time for investors to benefit from a "life preserver" while others enjoy the card game on the...Read More
VF Corp will report earnings on Wednesday, May 22, before the openThis morning, Morgan Stanley weighed in on the airline sector, and its reviews weren't exactly glowing. The brokerage firm sees inconsistencies in cost approaches for "legacy" airliners, and thinks expectations should be reset. More specifically, American Airlines Group Inc (NASDAQ:AAL) saw its rating cut to "underweight" from "equa...Read More
Zambia has started looking for a new investor in Vedanta-controlled Konkola Copper Mines (KCM), Zambia's President Edgar Lungu said on state radio on Monday."We are not shaken in our resolve to divorce, starting with KCM, and we have filed that notification," Lungu said on Zambia National Broadcasting Corporation radio, adding that he would brief the cabinet on the decision later on Monday.London-...Read More
SolGold is in talks with financiers keen to invest in its Ecuadorian copper-gold prospects and mining major BHP could increase its stake in the company, SolGold's chief executive said on Monday.In a preliminary economic assessment of the Alpala copper-silver-gold deposit in northern Ecuador released earlier, London-listed SolGold said annual copper output should be 207,000 tonnes for the first 25...Read More
SolGold is in talks with financiers keen to invest in its Ecuadorian copper-gold prospects and mining major BHP could increase its stake in the company, SolGold's chief executive said on Monday.In a preliminary economic assessment of the Alpala copper-silver-gold deposit in northern Ecuador released earlier, London-listed SolGold said annual copper output should be 207,000 tonnes for the first 25...Read More
SolGold is in talks with financiers keen to invest in its Ecuadorian copper-gold prospects and mining major BHP could increase its stake in the company, SolGold's chief executive said on Monday.In a preliminary economic assessment of the Alpala copper-silver-gold deposit in northern Ecuador released earlier, London-listed SolGold said annual copper output should be 207,000 tonnes for the first 25...Read More
Meanwhile, an options trader seems to be betting on a huge pullback for one blue chipU.S. stocks are trading in the red today, as the tech sector swoons on Huawei headwinds. Semiconductor shares continue to see some of the sharpest losses, sending the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) lower with the Dow Jones Industrial Average (DJI). Meanwhile, oil prices are on the rise after the O...Read More
A bullish signal just flashed for BKNG, amid the travel sector's sell-off Travel stocks have taken a hit, after Morgan Stanley downgraded several airline stocks earlier today, with American Airlines (AAL) getting the brunt of the analyst's drubbing. Booking Holdings Inc (NASDAQ:BKNG) hasn't been immune to the sector dip, down 1.6% at $1,758.17 a share, at last glance. However, the stock just pulle...Read More
Analysts spent the weekend weighing EV stockBofA-Merrill Lynch double-downgraded Eaton Vance Corp (NYSE:EV) to "underperform" from "buy," and slashed its price target to $37 from $45. The analyst in coverage said the lowered outlook comes amid slowing flow trends and expectations for margin pressures for the investment firm.Jefferies also chimed in on EV stock over the weekend, cutting its price t...Read More
Narendra Modi is leading in exit pollsThe iShares MSCI India ETF (INDA) has rocketed higher today, with the exchange-traded fund (ETF) pacing for its best session since March 2016. Specifically, INDA shares were last seen 4.5% higher at $35.22, as exit polls suggest a win for Indian Prime Minister Narendra Modi. Votes will be counted on Thursday, May 23, after a seven-week election. Against this b...Read More
"Will 2019 see the continued surge in base #metal interest? Head of Commodity Research at @LGIM , Nick Stansbury will take to the stage at Mining Journal Select this June to discuss the rise in interest for #commodities such as #copper. #MJS #MJSelect"Read full newsRead More
LITE joins a myriad of chip stocks in the red todayLumentum Holdings Inc (NYSE:LITE) is one of manytech stocks in the red this morning, as headwinds from Huawei Technologies take over mere days after President Donald Trump banned U.S. companies from supplying components to the China telecom concern. Specifically, Lumentum announced that it's halting shipments to Huawei, which accounted for 18% o...Read More
ZM stock began trading on the Nasdaq on April 18William Blair initiated coverage on Zoom Video Communications Inc (NASDAQ:ZM) with an "outperform" rating, citing "compelling growth drivers," including "industry-leading revenue growth rates." The brokerage firm joined four others in its bullish outlook on the new Wall Street stock, while six others currently maintain tepid "hold" ratings.The San Jo...Read More
A New York Times report accused the bank of not reporting suspicious activity from the U.S. President and his son-in-lawThe German financial concern Deutsche Bank AG (NYSE:DB) is pacing for its fourth day in the red today after a New York Times report accusing the bank of failing to report suspicious transactions between U.S. President Donald Trump and his son-in-law Jared Kushner. Mr. Trump and D...Read More
Target will report earnings on Wednesday, May 22, before the openSeveral retail names step into the earnings confessional this week, including Target Corporation (NYSE:TGT), set to report on Wednesday, May 22, before the open. Ahead of the event, Morgan Stanley upped its rating on Target to "equal-weight" from "underweight," the analyst seeing the company's margin risk as already priced into its v...Read More
Tanzania's mining minister said on Monday Acacia Mining had been fined 5.6 billion Tanzanian shillings ($2.4 million) for alleged pollution at its North Mara mine.Acacia, majority-owned by Barrick Gold, is embroiled in a long-running tax dispute with Tanzania.It was forced to cut output by a third after the government banned the export of mineral concentrates from its two other mines, Bulyanhulu a...Read More