(corrects figure to 'billion', from 'million', paragraph 2)By Loucoumane CoulibalyABIDJAN, Jan 24 (Reuters) - Ivory Coast's mining sector turnover rose by 11.5 percent in 2017, an increase achieved mainly via exports of gold, manganese and nickel, the government spokesman said on Wednesday."The mining sector announced a sales revenue of 539 billion CFA francs($1.02 billion) in 2017, compared...Read More
MILAN, Jan 24 (Reuters) - Italy's Treasury said on Wednesday it would offer 6.5 billion euros in 6-month bills at auction on January 29.6-mth BOT billsAUCTION DATE Jan. 29SETTLEMENT DATEJan. 31MATURITYJuly 31, 2018AMOUNT OFFERED 6.5 blnEXPIRING AMOUNT6.5 bln(Reporting by Milan Newsroom) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Meta...Read More
VANCOUVER, Jan 23 (Reuters) - Small, opportunistic deals will dominate the global gold mining sector again this year, analysts said on Tuesday, after Leagold Mining Corp unveiled a $264 million bid for fellow Canadian gold miner Brio Gold Inc.Six years after the last mining boom ended with billions of dollars in writedowns following over-priced mega-acquisitions, miners remain wary of big purchase...Read More
It's officially earnings season, with a handful of blue chips and big-cap stocks reporting this week. What's more, there are still hundreds of notable companies still on deck to report soon. Against this backdrop, we decided to take a look at some stocks that could make big moves on the charts, if past is prologue -- including Nucor Corporation (NYSE:NUE) and Nvidia Corporation (NASDAQ:NVDA) -- an...Read More
Gold continues to hit new highs for the year. At a good $1350 per troy ounce, the precious metal is trading at its best level since 8th September 2017. This was the day when gold formed its high at $1357 last year, before dropping $120 or 8.8% to $1237 by 12th December 2017. But fast forward a month and a bit, and gold is now threatening to break above last year’s high. Will it be able to do...Read More
MILAN, Jan 24 (Reuters) - A special purpose acquisition company (SPAC) promoted by Italian merchant bank Mediobanca and other investors will be listed on the Milan bourse in early February, two market sources said on Wednesday.The SPAC has already drawn 100 million euros in contributions and aims to use proceeds of its initial public offering to acquire a stake in one or more industrial companies,...Read More
* Bank stocks lead gains for main indexes* Airline stocks down after United Continental's report* Mnuchin's remarks spark declines in dollar* Indexes up: Dow 0.41 pct, S&P 0.26 pct, Nasdaq 0.16 pct (Changes comment, updates prices, adds details)By Sruthi ShankarJan 24 (Reuters) - U.S. stocks rose on Wednesday, driven by gains in bank stocks, while shares in General Electric fell after the comp...Read More
(Bloomberg) - Gold is going digital.Blockchain technology may help keep track of the roughly $200 billion of the precious metal dug from remote mines, traded by middlemen and melted down by recyclers that's sold each year to buyers scattered around the world.The London Bullion Market Association, which oversees the world's biggest spot gold market, will seek proposals including the use of blockch...Read More
By Gertrude Chavez-DreyfussNEW YORK, Jan 24 (Reuters) - U.S. Treasury debt prices slumped on Wednesday, after Treasury Secretary Steven Mnuchin backed a weaker dollar to help boost America's global trade, breaking from the traditional strong currency policy of past administrations.U.S. 30-year bond yields, which move inversely to prices, rose to their highest in more than three months, while those...Read More
Shares of SAGE Therapeutics Inc (NASDAQ:SAGE) gapped 70% higher on Dec. 7, after the biotech reported well-received data for one of its depression drugs. The shares have yet to slow down, topping out at a record high of $183.05 earlier. Though SAGE stock was trading down 0.4% at $179.85 at last check, if history is any guide, the drug name could still be headed deeper into uncharted territory.Spec...Read More
SAO PAULO, Jan 24 (Reuters) - Caixa Econ??mica Federal has unveiled plans to shore up its balance sheet and replace a dozen vice presidents as the Brazilian state bank deals with a string of graft investigations.In a statement late on Tuesday, Caixa said it would meet Basel III capital requirements this year and next by issuing perpetual debt in global markets, selling part of its loan portfolio a...Read More
MILAN, Jan 24 (Reuters) - Kepler Cheuvreux sees the enterprise value of IPO candidate Italo at around 2.15 billion euros ($2.7 billion), a copy of a presentation to investors showed. The broker sees the equity value of the Italian high speed railway group, which is offering up to 40 percent of its shares in an initial public offering expected in February, at around 1.7 billion euros. The company,...Read More
(Adds details throughout on sectors and stocks; updates prices)* TSX falls 8.9 points, or 0.05 percent, to 16,348.65* Six of the index's 10 main groups fall* Valeant declines 7.7 percent* The materials group adds 1.6 percent TORONTO, Jan 24 (Reuters) - Canada's main stock index edged lower on Wednesday, weighed by declines for Valeant Pharmaceuticals International Inc and Canadian National Railw...Read More
BERLIN, Jan 24 (Reuters) - Germany defended its arms export policy on Wednesday in response to accusations of "moral depravity" after sales increased last year to countries beyond its European Union and NATO allies.Germany is the world's third-biggest arms exporter, but weapons sales remain a domestically sensitive issue given the country's World War Two history.The debate has been furth...Read More
(Adds stocks, updates levels)JOHANNESBURG, Jan 24 (Reuters) - South Africa's rand firmed against the dollar on Wednesday, breaking through 12 per dollar for the first time since mid-2015, supported by a weaker greenback and expectations the new leader of the ruling ANC would rejuvenate the economy.At 1518 GMT, the rand traded at 11.9450 per dollar, up 0.75 percent from its New York close on Tuesd...Read More
MILAN, Jan 24 (Reuters) - Italy's Edizione Holding, the investment vehicle of the Benetton family, plans to double its stake in the country's biggest insurer Generali to around 2 percent, a banking source said on Wednesday.Edizione Holding declined to comment on the issue.The holding firm, which currently owns a stake of 0.94 percent in the insurer, is cash-rich after having sold a majority stake...Read More
By Steve SlaterLONDON, Jan 24 (IFR) - Just whisper it among European bank executives, but US bank chiefs reckon changes to US taxes are going to make them stronger and able to more aggressively hire from rivals and invest in technology.The tax changes cost the big five US banks a combined US$32.9bn in their recent fourth-quarter results, but that did little to dampen their enthusiasm for the new r...Read More
BUDAPEST, Jan 24 (Reuters) - The National Bank of Hungary (NBH) will make its monetary policy interest rate swap (IRS) facility for commercial banks fixed-rate instead of variable-rate, the bank said in a statement on Wednesday.Access to the IRS will be proportional to the size of the assets of bidders according to new rules which take effect on Jan. 29. The bank reiterated that it planned to offe...Read More
* Existing home sales fall 3.6 percent in December* Housing inventory tumbles 11.4 percent* Median house price rises 5.8 percent year-on-year By Lucia MutikaniWASHINGTON, Jan 24 (Reuters) - U.S. home sales fell more than expected in December as the supply of houses on the market dropped to a record low, pushing up prices and likely sidelining some potential buyers. The National Association of Rea...Read More
* Mnuchin says weak dollar is good for U.S. trade* Dollar index hits fresh 3-year low* Trump expected to push "America First" message in Davos speech (Updates prices and market activity to U.S. market open, changes dateline; previous LONDON)By Saqib Iqbal AhmedNEW YORK, Jan 24 (Reuters) - The dollar fell to a fresh three-year low against a basket of major currencies on Wednesday after th...Read More