LONDON - Canadian copper producer Imperial Metals has hired Bank of Montreal (BMO) to speed up a restructuring process that could include the sale of the company for up to $1 billion, two sources familiar with the matter said.Imperial Metals, backed by Canadian billionaire Murray Edwards, earlier this year set up a special committee to identify strategic alternatives including joint ventures and a...Read More
Getty ImagesA worker installs parts in a Mercedes-Benz C-Class frame as they move down the production line at a factory in Alabama. The numbers: Industrial production rose 0.6% in November, the strongest gain in three months, the Federal Reserve reported Friday, on the back of strong mining and utility output. The increase in November output was above Wall Street expectations of a 0.4% increase....Read More
It's been a whirlwind week for the shipping expertIt's been a volatile week for XPO Logistics Inc (NYSE:XPO), which plunged nearly 10% on Wednesday after the company cut its 2019 adjusted EBITDA forecast, and dropped more than 26% yesterday -- hitting a two-year low of $41.05 along the way -- in the wake of a "strong sell" rating and scathing note from Spruce Capital. Today, XPO stock is up 5.8% a...Read More
REGN is on track for its third straight weekly winThe shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN) are up 0.9% to trade at $381.87, after Goldman Sachs upgraded its rating on the stock to "buy" from "neutral," adding it to its Conviction Buy list in the process. The covering analyst is bullish on the company's pipeline of products. The upbeat price action today could help Regeneron stock...Read More
Some options traders are betting on a huge TLRY declineWeed stock Tilray Inc (NASDAQ:TLRY) has been relatively quiet recently, at least compared to the noise it created back in September when it traded in a 150-point range in a single session, eventually topping out at an even $300. Since then, the shares have been sliding lower, yesterday notching their lowest close since August. It's been over t...Read More
Billionaire hedge fund manager John Paulson's success in ousting the bulk of Detour Gold Corp's board could serve as a "template" for an expected increase in shareholder activism in the gold sector, institutional investors said on Thursday.The Canadian mining company's shareholders voted for five board nominees backed by Paulson & Co at a special meeting on Thursday, and Detour's interim chief exe...Read More
Core retail sales in the U.S. soared in November, but data from Beijing was soberingFear is spiking this morning, as a dismal batch of economic data out of China sparks concerns over the impact of trade tensions on the global economy. This is offsetting news Beijing agreed to suspend auto tariffs for 90 days beginning Jan. 1, as well as a much stronger-than-expected 0.9% surge in core U.S. retail...Read More
iStockphotoRow of quaint A-Frame homes in a Pacific Northwestern suburban neighborhood. Rates for home loans tumbled for a third week, offering a glimmer of hope for would-be buyers. The 30-year fixed-rate mortgage averaged 4.63% in the Dec. 13 week, down 12 basis points and touching its lowest since September, mortgage liquidity provider Freddie Mac said Thursday. The 15-year fixed-rate mortg...Read More
U.S. production of lithium is set to increase 1,300% in the next 2 years.Who wouldn't be happy with 614% gains in a very short amount of time?Well that's what one lithium mining stock did in just under 12 months. But only Australians could reap the rewards of that slam-dunk.Until now that is. The very same "secret sauce" that led to that stock's meteoric rise is now being implemented here in Ameri...Read More
Canada's Barrick Gold (TSX, NYSE:ABX), the world's top bullion producer by volume, is acquiring 12,600,000 common shares of fellow junior miner Reunion Gold Corporation (TSX-V:RGD), which has interests in four different projects on South America's North Atlantic coast.The Toronto-based company, which already owns 15% of Reunion, said the fresh $2.27-million investment leaves its stake in the Q...Read More
Fred Imbert | Sam Meredith | Yen Nee LeePublished 18 Hours AgoUpdated2 Hours AgoCNBC.com show chapters Markets slump on fears of a global slowdown — Four experts on what to watch next 5 Hours Ago |03:17 Stocks fell sharply on Friday after weaker-than-expected data in China and Europe exacerbated concerns of a global economic slowdown.The Dow Jones Industrial Average fell...Read More
Published 20 Hours AgoUpdated6 Hours AgoReuters Gold fell to its lowest in more than a week on Friday and was on track to mark its biggest weekly decline in more than a month, as the dollar climbed on robust U.S. economic data ahead of a U.S. Federal Reserve meeting next week.Spot gold eased 0.3 percent to $1,238.86 per ounce as of 11:14 a.m. EST (1614 GMT). Earlier in the session, prices hit thei...Read More
China on Friday reported industrial output and retail sales growth for the month of November that missed expectations, according to data from the National Bureau of Statistics.The world's second-largest economy has begun to show signs of slowing down amid a bitter trade dispute with the U.S.Huileng Tan| @huileng_tanPublished 23 Hours AgoUpdated9 Hours AgoCNBC.com show chapters China to suspend...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rose Thursday as Wall Street expressed optimism over U.S. and China trade talks. General Electric Co. (GE) jumped 7% after JPMorgan analyst Stephen Tusa lifted his rating on the stock to "neutral" from "underweight." -Apple Inc. (AAPL) said Thursday it would invest $1 billion to build a ne...Read More
Gold prices have declined so far this year. But 2019 and 2020 should be positive again because analysts at ABN AMRO expect a lower dollar, lower US Treasury yields, a recovery of the Chinese yuan and higher jewellery demand. Speculators are expected to cut their substantial short positions and gold prices should rise to above the 200-day moving average. We keep our year-end tar...Read More
Silver prices have declined by 14% and speculators hold extreme short positions. Silver prices have seen the worst and ABN AMRO analysts are positive on silver outlook, because of lower dollar, lower US Treasury yields and recovery in the Chinese yuan.So far year-to-date silver prices have been the weakest among precious metal prices. They have declined by more than 14%. Silver prices ha...Read More
In this video Dave Lerman, Director of Education at CME Group, discusses the benefits of trading gold futures vs. ETFs or the OTC market. Learn more: https://institute.cmegroup.com/ Follow us: Twitter: https://twitter.com/CMEActiveTraderFacebook: http://www.facebook.com/CMEGroup CME Group is the world's leading and most diverse derivatives marketplace, offering the widest range of global ben...Read More
While a rate hike is likely to happen at the next Federal Reserve Meeting next week, a more dovish tone is expected in 2019, said Peter Hug, global trading director of Kitco Metals. We think the Fed is going to back off in 2019 and it appears that a lot of analysts are indicating that the Fed is going to be much more dovish coming into 2019, "We think the Fed is going to back off in 2019 and it...Read More
CloseGain/LossOn WeekGold $1238.30-$4.60-0.81%Silver$14.58-$0.19-0.34%XAU67.59-1.69%-0.52%HUI152.66-2.56%-0.83%GDM560.45-1.47%+0.07%JSE Gold1302.25+3.60+8.42%USD97.46+0.39+0.89%Euro113.05-0.59-0.92%Yen88.23+0.20-0.64%Oil$51.20-$1.38-2.68%10-Year2.893%-0.016+1.30%Bond143.4375+0.40625-0.33%Dow24100.51-2.02%-1.18%Nasdaq6910.66-2.26%-0.84%S&P2599.95-1.91%-1.26% The Metals: Go...Read More
Despite all the ominous press being devoted to the soon-to-be-inverted yield curve, it's not always clear why such a thing matters. In other words, how, exactly does a line on a graph slipping below zero translate into a recession and equities bear market, with all the turmoil that those things imply? The answer (which is both simple and really easy to illustrate with charts) is that banks - the...Read More