Euro Sun Mining (TSX: ESM) has become the first non-state-owned entity to receive a ratified mining licensce for its Rovina Valley copper-gold project in Romania, signaling that the East European nation is open for business, the company says.The mining company will now embark on an Environmental and Social Impact Assessment (ESIA), and continue its work on a feasibility study on the project, whic...Read More
PALERMO, Italy (Reuters) - Italy said on Monday it was confident the strongman who rules eastern Libya, Khalifa Haftar, would attend a peace summit, as Italian officials prepared to open the conference with no public sign yet whether Haftar would arrive.Libya’s prime minister, who is based in the west, arrived for the conference, but Haftar, the most powerful man in the east, kept the hosts...Read More
SWCH has struggled since its IPO last OctoberShares of Switch Inc (NYSE:SWCH) are slightly lower in afternoon trading, down 0.9% at $9.21, at last glance, as traders gear up for the company's third-quarter earnings. The security's fifth-ever report is slated to surface after the market closes tomorrow, Nov. 13. Below, we will dive into what the options market is expecting for the stock's post-ear...Read More
(Kitco News) - Gold andsilver prices are moderately down and have hit four-week and eight-week lows,respectively, in early-afternoon U.S. trading Monday. The precious metals arepressured by a very strong U.S. dollar on the foreign exchange market. The U.S. dollar index hit a 16-month high today. December gold futures were last down $5.30an ounce at $1,203.30. December Comex silver was last down $...Read More
NEW YORK (Reuters) - A long-reliable warning signal for stock investors that the tide is about to turn against them briefly flashed caution amid last month’s sell-off but does not appear to be calling an end to the bull market just yet.Like stocks, junk bonds - the high-yielding debt issued by the riskiest corporate borrowers - had a rough October, but nothing close to the magnitude of blood...Read More
LONDON (Reuters) - The Bank of France has partnered with U.S. banking group JPMorgan (JPM.N) to expand its range of gold bullion services for central banks, sources familiar with the matter said on Monday.The French central bank’s second deputy governor Sylvie Goulard wrote in the Alchemist, the magazine of the London Bullion Market Association (LBMA), that it had partnered with “a lar...Read More
Tilray will report earnings after tomorrow's closeWeed stocks will have the chance to react to earnings this week, with several marijuana companies set to report. Tilray Inc (NASDAQ:TLRY) is set to release its third-quarter report after the market closes this Tuesday, Nov. 13. Ahead of the event, the stock is down 0.1% today to trade at $107.82, but options traders are anticipating another big po...Read More
PARIS (Reuters) - Facebook (FB.O) will allow French regulators to “embed” inside the company to examine how it combats online hate speech, the first time the wary tech giant has opened its doors in such a way, President Emmanuel Macron said on Monday.From January, Macron’s administration will send a small team of senior civil servants to the company for six months to verify Faceb...Read More
LONDON (Reuters) - The United States is not too concerned by Europe’s idea for a special purpose vehicle (SPV) to circumvent U.S. sanctions with Iran as companies are withdrawing from the country in droves, the senior official for financial intelligence said.“I think the bigger news in Europe is that companies are withdrawing from Iran in droves,” Under Secretary of the Treasury...Read More
Goldman Sachs is the worst Dow stock at midday, thoughThe U.S. stock market is spiraling at midday, with the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) down more than 1% each, and the Nasdaq Composite (IXIC) off nearly 3%. Apple (AAPL) is leading a slide in tech stocks as Lumentum's (LITE) weak forecast sparks concern over iPhone demand, while Goldman Sachs (GS) is pacing a slump i...Read More
NEW YORK (Reuters) - The dollar reached a 16-month high on Monday against a basket of currencies as investors built bets on a Federal Reserve interest rate increase next month, and political risks in Europe which put pressure on the euro and the pound.Fears about a no-deal Brexit and a growing rift in Europe over Italy’s budget have also boosted the dollar.The greenback has rebounded from lo...Read More
FRANKFURT (Reuters) - Volkswagen (VOWG_p.DE) is open to joining a German consortium exploring production of electric car battery cells and will discuss the matter at a supervisory board meeting on Friday, a person familiar with the matter said on Monday.A Volkswagen spokesman declined to comment.Volkswagen has already awarded multibillion-euro battery cell supply contracts to LG Chem and China&rsq...Read More
Even in the wake of impressive year-over-year revenue growth, ACB is strugglingShares of Aurora Cannabis Inc (NYSE:ACB) are down 2.6% at $7.10, erasing early gains, despite the pot company's impressive fiscal first-quarter earnings announcement. ACB said quarterly revenue increased 260% year-over-year, even though the quarter concluded before the Oct. 17 legalization of recreational marijuana use...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Monday urged Florida election officials to abandon recount efforts, declare his fellow Republicans the winners and, without evidence, cast doubt on vote tallies as state officials scrambled to review more than 8 million ballots by a Thursday deadline.Leads by the Republican candidates in two key contested races - one for a seat in the U.S. Sena...Read More
Most analysts are already bullish on the nameStifel raised its rating on Pebblebrook Hotel Trust (NYSE:PEB) to "buy" from "hold," and raised its price target on the real estate investment trust (REIT) to $38 from $37 -- an 11.2% premium to last Friday's close. The brokerage firm pointed to an attractive entry point following recent stock market volatility, and that it expects the shares to outperf...Read More
(Reuters) - General Electric Co (GE.N) Chief Executive Officer Larry Culp said on Monday the company was saddled under too much debt and would urgently sell assets to pay off debt, sending its shares down 8 percent.“We have no higher priority right now than bringing leverage levels down,” Culp said in an interview with CNBC. “We have plenty of opportunity to do that through asset...Read More
Nov 12 (Reuters) - Canada's main stock index fell on Monday, weighed by losses in shares of precious metal miners as gold prices hit its lowest in a month.* Gold fell for a seventh straight session, as the dollar jumped to 16-month highs on the back of political uncertainty in Europe and the U.S. Federal Reserve's hawkish stance on interest rates.* The materials sector, which includes precious and...Read More
KHARTOUM (Reuters) - Many cash machines in the Sudanese capital have run out of banknotes as the government scrambles to prevent economic collapse with a sharp devaluation and emergency austerity measures.Rising demand for cash due to inflation, lack of trust in the banking system and the central bank’s policy of restricting the money supply to protect the Sudanese pound have all contributed...Read More
The beauty stock gapped lower last week after earningsBeauty supply concern Coty Inc (NYSE:COTY) is up 1.8% at $8.65 in early trading, after the company announced the immediate resignation of CEO Camillo Pane, citing family reasons. A number of other corporate-level changes were also revealed, including a new chairman of the board, and the addition of two new and independent board members. Today'...Read More
(Kitco News) -Money managers trimmed theirbearish positioning in gold during the most recent reporting week for datacompiled by the Commodity Futures Trading Commission, although these accountshave likely reversed course since and are accumulating bearish positions again,analysts said.During the week-long period toNov. 6 covered by the report, Comex December gold gained $1 to $1,226.30 anounce, wh...Read More