LONDON, Jan 5 (Reuters) - Barclays has appointed Kunal Gandhi as head of corporate broking and Rob Mayhew as his deputy, according to an internal memo seen by Reuters on Friday.Gandhi helped build Barclays' corporate broking business by advising clients including insurer Legal & General and the London Stock Exchange , the memo said.Corporate broking is a banking business common in Britain but...Read More
LONDON, Jan 5 (Reuters) - U.S. stock futures and the dollar trimmed gains on Friday after U.S. job growth slowed more than expected in December, although a pick-up in wage gains suggested further labour market strength that could pave the way for interest rate rises.The dollar index - the dollar measured against six other top world currencies - was flat after trading marginally higher before the j...Read More
By Andy BruceLONDON, Jan 5 (Reuters) - Britain's economy looks set for a subdued run-up to Brexit, according to a range of indicators that paint a mixed picture at the start of the country's last full year in the European Union.Forecasters generally think the world's sixth-largest economy will continue to expand at a slow but steady pace during 2018, a better prospect than the gloomy predictions m...Read More
FRANKFURT, Jan 5 (Reuters) - Tens of thousands of workers in the German metals and engineering industries will stage walkouts at companies across the country from next week as part of a campaign for higher pay, powerful union IG Metall said.The country's biggest union is demanding a 6 percent wage rise this year for about 3.9 million workers in the sector."We will build pressure with our firs...Read More
By Alasdair PalLONDON, Jan 5 (Reuters) - Hedge funds are circling British car dealers, betting on their increasing vulnerability as a five-year sales boom hits the skids in the face of waning consumer confidence and an accompanying drop in resale values.UK new car sales registered the biggest annual drop since 2009 last year, data showed on Friday, with the Society of Motor Manufacturers and Trade...Read More
(Adds details of release, background)OTTAWA, Jan 5 (Reuters) - Canada's trade deficit grew to C$2.54 billion ($2.03 billion) in November from C$1.55 billion in October as imports posted their biggest surge in more than eight years and far outpaced the growth of exports, Statistics Canada said on Friday.The deficit far exceeded the C$1.20 billion shortfall estimated by analysts in a Reuters poll.E...Read More
(Kitco News) - Gold prices are slightly higher in early U.S. trading Friday, and erased moderateovernight losses in the wake of a U.S. jobs report that was weaker thanexpected.February Comex gold was last up $1.20 an ounce at $1,322.80. March Comex silver was last up $0.021 at $17.295 an ounce.Fridaymorning's December U.S. employment report from the Labor Department showed anon-farm payrolls rise...Read More
(Adds details of release, background)OTTAWA, Jan 5 (Reuters) - The Canadian economy added almost 80,000 jobs for the second month in a row in December on a surge in part-time employment, and the jobless rate dipped to a 41-year low of 5.7 percent, Statistics Canada said on Friday.The gain of 78,600 positions far exceeded the expectations of analysts, who in a Reuters poll had forecast a modest ga...Read More
(Kitco News)- The gold market has pushed higher following a drop in momentum in the labor market in the final month of 2017.Friday, The Bureau of Labor Statistics said 148,000 jobs were created in December. Economists were expecting to seejob gains of 190,000.At the same time, the unemployment rate held steady at 4.1%, which was in line with expectations.Not only was the headline data disappointin...Read More
Jan 5 (Reuters) - U.S. stock futures trimmed gains on Friday after December payrolls data showed that U.S. job growth slowed more than expected amid a decline in retail employment. At 8:30 a.m. ET, Dow e-minis were up 76 points, or 0.3 percent, with 18,620 contracts changing hands. S&P 500 e-minis were up 7 points, or 0.26 percent, with 114,397 contracts traded. Nasdaq 100 e-minis were up 25.5...Read More
NEW YORK, Jan 5 (Reuters) - The dollar trimmed gains against the yen and turned negative versus the euro on Friday after data showed the U.S. economy created fewer jobs than expected in December.U.S. nonfarm payrolls increased by just 148,000 jobs last month, the Labor Department said on Friday. Economists were forecasting a jobs gain of 190,000. Employment data for October and November data were...Read More
Jan 5 (Reuters) - U.S. short-term interest-rate futures rose slightly on Friday after a U.S. government report showed U.S. employers added fewer jobs than expected last month, but traders overall stuck to their conviction the Federal Reserve will raise rates two times this year. Traders continued to heavily price in a March rate hike, giving it about a 76 percent chance based on a Reuters analysis...Read More
Mr. Adam Travis reportsCOLORADO ANNOUNCES RESULTS OF THE 2017 FIELD PROGRAM ON THE KINASKAN-CASTLE PROPERTY Colorado Resources Ltd. has provided the results of its fall 2017 rock, soil and geophysical programs completed at the Castle target on its 100-per-cent-owned 17,839-hectare Kinaskan-Castle (K-C) property. The Castle portion of the property was acquired by Colorado in February, 2017 (see new...Read More
Gold has been underpinned by buying that has occurred onpullbacks, while some caution may in order on palladium as this metal remainsat historically high prices, says Alex Thorndike, senior precious-metals dealerwith MKS (Switzerland) S.A. ComexFebruary gold topped $1,300 on the final day of 2017 and hasremained above this so far in 2018. “The support for the gold continues to eme...Read More
SAO PAULO, Jan 5 (Reuters) - Auto production in Brazil tumbled 14.2 percent in December from the previous month, though new car sales rose 4.1 percent in monthly terms, industry group Anfavea said on Friday, as Brazil's automaking recovery proved volatile.Auto production rose 6.9 percent in December from the same month the year before. Production in 2017 overall jumped 25.2 percent from the previo...Read More
Something tells me thereare some underlying problems in the equity markets based on the way that goldis trading. Gold and silver, which had major breakdowns three weeks ago, havegone up almost every day since. We had turned short-term bearish whilemaintaining our long-term bullish posture. That positioning has not worked outwell and has been rather painful, with gold rallying about $90 from the bo...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
* Dollar struggles despite strong ISM, ADP data* Graphic: World FX rates in 2017 By Saikat ChatterjeeLONDON, Jan 5 (Reuters) - The euro held near four-month highs on Friday as euro zone inflation data printed modestly, in line with forecasts.Sentiment remained bullish, however, with some investors betting the ECB may have to start withdrawing its stimulus policies earlier than expected as the bloc...Read More
By Marc JonesLONDON, Jan 5 (Reuters) - The powerful rally in global stocks and other markets is likely to persist until higher borrowing costs and a stronger dollar force investors to back off, Bank of America Merrill-Lynch's analysts said on Friday.The U.S. investment bank's weekly round-up of financial market flow tracking data showed $10.1 billion had exited U.S. stocks in the biggest move in m...Read More
* Futures up: Dow 84 pts, S&P 8 pts, Nasdaq 24.5 pts By Sruthi ShankarJan 5 (Reuters) - Futures pointed to a higher open on Wall Street on Friday as U.S. stocks looked set to extend a new year rally that has pushed indexes to record levels on signs of robust growth across major economies.Investors are awaiting the December U.S. payrolls numbers later on Friday. The data is expected to show em...Read More