(Adds Codemig comments)SAO PAULO, Jan 29 (Reuters) - The development agency owned by Brazilian state of Minas Gerais, known as Codemig, is planning an initial public offering and has invited investment banks to a hiring process, the company said in a statement on Monday. Codemig did not confirm the amount of the offer or when it would take place. Codemig's assets include a niobium mine, among oth...Read More
WASHINGTON, Jan 29 (Reuters) - U.S. banking regulators said Monday that "living wills" submitted by 19 foreign banks are largely satisfactory, and are likely to ease expectations for future submissions from those firms.After the 2008 financial crisis, regulators have been demanding so-called living wills to be drawn up by some banks and financial institutions to provide a contingency pla...Read More
U.S. stocks ended the day lower, retreating from last Friday's record highs. The Dow closed near its intraday low, as Apple (AAPL) slid on reports the tech giant had halved its iPhone X production target, and Caterpillar (CAT) sank after analysts expressed concern over margins and slow progress in North America Free Trade Agreement (NAFTA) negotiations. The Nasdaq and S&P ended the day lower, as w...Read More
The following is a reprint of the market commentary from the February 2018 edition of The Option Advisor, published on January 26. For more information, or to subscribe to The Option Advisor -- featuring 10 new option trades each month -- visit our online store.It was not quite a year ago in this space when we discussed the groundswell of inflows into the iShares Core S&P 500 ETF (IVV), an exch...Read More
(Adds U.S. market close)* U.S. Treasury yields rise above 2.70 percent* German 5-year bond turns positive, first time since 2015* Dollar set for biggest monthly fall in nearly two years* Oil dips but set for biggest January rise in five years By Herbert LashNEW YORK, Jan 29 (Reuters) - Global equity markets slid on Monday and U.S. Treasury yields rose to more than three-year highs after remarks...Read More
Jan 30 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 6,075.40 25.40 NZX 50**8,327.59 -0.20DJIA**26,439.48-177.23 NIKKEI**23,629.34-2.54Nasdaq**7,466.505-39.267 FTSE**7,671.53 5.99S&P 500** 2,853.53 -19.34Hang Seng** 32,966.89-187.23SPI 200 Fut 5,983.0-27.0 STI** 3,577.07 9.93SSEC**3,523.5009 -34.63KOSPI** 2,598.19 23.43-------------------------------------------------...Read More
(Adds central bank board chief, finance minister comments, context)BOGOTA, Jan 29 (Reuters) - Colombia's central bank unexpectedly lowered the lending rate on Monday, the last cut in its current cycle, as policymakers try to boost a still-sluggish economy even as inflation remains above target.The seven-member board voted four-to-three to reduce the lending rate by 25 basis points to 4.50 percent...Read More
Jan 29 (Reuters) - Canada's main stock index slumped on Monday, touching a six-week low as energy and other resource shares tumbled alongside commodity prices.The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 144.5 points, or 0.89 percent, at 16,094.72. (Reporting by Leah Schnurr; Editing by James Dalgleish) Disclaimer: The views expressed in this article are those...Read More
Jan 30 (Reuters) - Australian shares are set to slide on Tuesday, taking their cue from a lower finish on Wall Street, while a fall in commodities prices could lead to a weakness in materials stocks.The three main U.S. indexes retreated sharply on Monday from record levels last week, with the Dow falling more than 100 points, weighed down by Apple after a media report added to concerns about deman...Read More
NEW YORK, Jan 29 (Reuters) - Wall Street pulled back from record highs on Monday with the S&P 500 marking its biggest one-day percentage decline in about five months, weighed down by a slide in Apple shares.The Dow Jones Industrial Average fell 177.23 points, or 0.67 percent, to 26,439.48, the S&P 500 lost 19.34 points, or 0.67 percent, to 2,853.53 and the Nasdaq Composite dropped 39.27 po...Read More
SEOUL, Jan 30 (Reuters) - South Korean manufacturers' business confidence edged down for February, a central bank survey showed on Tuesday, as companiesgrew more pessimistic because of local economic uncertainties and appreciation of the won.The Bank of Korea's manufacturing business survey index (BSI) for February came in at 80 on a seasonally adjusted basis, nudging down from 83 in January. A re...Read More
* Dollar rises but set to decline 3 pct for the month* Euro, pound down* Eyes on Fed meeting, jobs report later in week (New throughout, updates prices, market activity and comments)By Stephanie KellyNEW YORK, Jan 29 (Reuters) - The dollar rose on Monday against a basket of currencies as U.S. bond yields climbed and traders waited for a Federal Reserve meeting and a U.S. jobs report later in the w...Read More
(Corrects fifth paragraph to show an increase in the number of settlements overall, not just those that did not involve challenges to mergers)By Jonathan StempelJan 29 (Reuters) - The number of class action lawsuits in the United States accusing companies of fraud and other securities law violations soared in 2017, topping one a day even as the value of settlements plunged, a study released on Mo...Read More
David Lawder, Anthony EspositoMONTREAL (Reuters) - U.S. President Donald Trump’s trade chief on Monday dismissed Canadian proposals for unblocking NAFTA modernization talks but pledged to stay at the table, easing concerns about a potentially imminent U.S. withdrawal from the trilateral pact.Trump, who described the 1994 pact as a disaster that has drained manufacturing jobs to Mexico, has f...Read More
The U.S. stock market is pulling back from record highs, as shares of Apple (NASDAQ:AAPL) retreat on reports the tech titan has halved its first-quarter iPhone X production target. The speculation has shares of Apple suppliers selling off, too, with Broadcom Ltd (NASDAQ:AVGO), Cirrus Logic, Inc. (NASDAQ:CRUS), and Micron Technology, Inc. (NASDAQ:MU) among those trading lower today. Here's a closer...Read More
(Retops with budget measures, adds details from news conference)By Marcela Ayres and Mateus MaiaBRASILIA, Jan 29 (Reuters) - Brazil's government will tap the nation's sovereign fund and recent surpluses to cut debt and avoid breaking budget rules this year, officials said on Monday, after easily meeting the 2017 fiscal target.The government is 208.6 billion reais ($65.9 billion) short of meeting...Read More
(Adds more quotes and background)WARSAW, Jan 29 (Reuters) - Polish central bank governor Adam Glapinski was quoted as saying on Monday that he would not be surprised if interest rates, presently at 1.5 percent, were raised in the first half of 2019 or if they stay unchanged.This month Glapinski said after a Monetary Policy Council sitting that rates in Poland may stay unchanged until the end of 2...Read More
BOGOTA, Jan 29 (Reuters) - Colombia central bank said that with Monday's quarter-point cut in the benchmark interest rate, the cycle of reductions has ended.The seven-member board reduced borrowing costs to 4.50 percent to help bolster the economy. (Reporting by Helen Murphy) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The...Read More
BOGOTA, Jan 29 (Reuters) - The decision by Colombia's central bank to cut the benchmark interest rate to 4.50 percent was backed by four of seven members, the central bank said on Monday.The bank said the economy is likely to grow 2.7 percent in 2018. (Reporting by Helen Murphy) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc....Read More
BOGOTA, Jan 29 (Reuters) - Colombia's central bank lowered the benchmark interest rate to 4.5 percent on Monday, as policymakers seek a boost to still sluggish economic growth.The board reduced the lending rate by 25 basis points, contrary to the hold expected by the majority of analysts in a Reuters survey. (Reporting by Helen Murphy) Disclaimer: The views expressed in this article are those of...Read More