* Qatar Islamic Bank sinks; dependence on Gulf deposits* Buying opportunity for some cheap Qatari shares* Abu Dhabi's Dana Gas jumps on receipt of Egypt payments* Saudi trading volumes rise as MSCI decision nears* Ezz Steel surges as Egypt imposes import tariff By Celine AswadDUBAI, June 7 (Reuters) - Qatar's stock market fell for a third straight day on Wednesday, hit by the breaking of diplomat...Read More
(Kitco News) - Yields on U.S. Treasury notes (USTs) are likely to be the biggest influence on gold going forward, say analyst with Standard Chartered.In the meantime, the precious metal could get a lift from political and geopolitical turmoil, but this type of a safe-haven bid tends to be temporary, the bank pointed out.Spot gold on Tuesday hit its highest level of 2017, peaking just above $1,296...Read More
NEW YORK, June 7 (Reuters) - The U.S. Securities and Exchange Commission will take up to another 60 days to decide whether to allow the sale of the Chicago Stock Exchange to a group of investors led by China-based Chongqing Casin Enterprise Group.The SEC, which reviews proposed mergers involving exchanges to ensure they comply with federal regulations and appropriately self-police their brokerage...Read More
WARSAW, June 7 (Reuters) - Poland's zloty currencyhas strongly appreciated recently but the central bank is not concerned about these gains given robust growth in the domestic economy, the bank's Governor Adam Glapinski said on Wednesday."We are carefully watching (the zloty exchange rate)," Glapinski said after the bank decided earlier on Wednesday to keep rates at a record-low. "One can see that...Read More
* Tightening polls add urgency to staffing plans* Dealers keep Brexit, Trump surprises in mind* Traders, analysts to stay late, start early, use Asia* Pizzas ordered to fuel all-nighter (Adds extended Tradeweb operating hours)By Helen ReidLONDON, June 7 (Reuters) - Bankers, brokers and money managers are pulling in extra staff to handle any big market moves on Thursday night as tightening polls ma...Read More
WARSAW, June 7 (Reuters) - Poland's inflation will likely remain at a "moderate" level in the coming quarters, the central bank reiterated on Wednesday, explaining its decision to keep interest rates at an all-time low.The bank also said that the current level of rates, with the benchmark rate at 1.50 percent since March 2015, has helped keep Poland on a path of balanced economic growth.The bank s...Read More
From safety deposit boxes in leafy west London to high-security facilities housing gold and silver in Frankfurt, companies that store valuables are expanding to meet demand.A rush into haven assets that began during the financial crisis is getting a new lease on life from an upsurge in populist politics and a quickening of inflation. Two firms say they plan to open vaults in Europe capable of hold...Read More
* Former FBI director to testify before Congress on Thursday* UK election in focus* Navistar dips after posting quarterly loss* Indexes up: Dow 0.11 pct, S&P 0.10 pct, Nasdaq 0.26 pct (Updates to open)By Tanya AgrawalJune 7 (Reuters) - U.S. stocks opened slightly higher on Wednesday but gains were limited as investors stayed on the sidelines ahead of Thursday's major political and economic events....Read More
(Kitco News) - It's always prudent for traders of any market and anytrading timeframe-even the short-term intra-day traders-to examine longer-termprice charts, such as weekly and monthly charts. History proves thatsignificant, trending moves in markets tend to see their prices gravitatetoward historical highs (in an uptrend) or lows (in a downtrend), which aredepicted on those longer-term charts....Read More
* Congolese clamour to vote, fear further election delays* President Kabila coopts opposition to ease pressure for vote* Economy worsens, corruption spreads* Officials reject comparisons with slide to war in 1990s By Aaron RossKINSHASA, June 7 (Reuters) - Arnaud Kalala had queued for hours in Kinshasa's rainy season heat to register to vote in an overdue election to replace Congolese President Jo...Read More
* Current chairman to step down on Oct. 31* Anglo's recovery stalling after commodities market rally in 2016* Chambers involved in two big takeover deals last year (Adds comments from analysts, industry source)By Rahul B and Barbara LewisJune 7 (Reuters) - Anglo American has appointed Stuart Chambers, the former chairman of British chip designer ARM Holdings and packaging group Rexam, to succeed J...Read More
(Corrects size of Algebris fund in paragraph 5)* Sterling fell 3 percent in less than four weeks* Hedge funds take view that pound will fall further* Exit from EU chief among British concerns for hedge funds By Maiya Keidan and Patrick GrahamLONDON, June 6 (Reuters) - Whatever the outcome of Britain's election on Thursday, some hedge funds are still betting sterling will fall anew -- anticipatin...Read More
(Updates with more share gains)* Banking shares rise after Santander rescues rival Popular* Euro hit by report ECB may cut inflation outlook* All eyes on "Triple Threat Thursday"* Graphic: World FX rates in 2017 By Patrick Graham and Danilo MasoniLONDON, June 7 (Reuters) - A smoothly executed rescue of Spain's struggling Banco Popular drove European banking stocks higher on Wednesday in financial...Read More
Jun 07, 2017 (Marketwired via COMTEX) -- SAN FRANCISCO, CA--(Marketwired - June 07, 2017) - With primary targets still not accessible due to weather, secondary targets are the focus, and analysts Ryan Walker of Echelon Wealth Partners and Adam Melnyk of PI Financial weigh in on the latest results. Company included in article: Victoria Gold Corp. In a June 5 press release, Victoria Gold Corp. (VI...Read More
Stock futures were in a holding pattern again on Wednesday as investors cautiosuly waited for direction from a number of market-churning events on Thursday. S&P 500 futures were up 0.04%, Dow Jones Industrial Average futures were flat, and Nasdaq futures rose 0.14%. Top of the list, the investigation into the Trump campaign's alleged ties with Russia will come back into the spotlight as fo...Read More
Gold futures are among the "few bright spots for commodity bulls," with prices poised to test their 2017 high, says Mike Zarembski, senior commodities analyst with optionsXpress. Comex August gold on Tuesday threatened the $1,300-an-ounce level for the first time since mid-April, with investors moving some assets to so-called "safe havens" like gold and U.S. Treasury notes, he says. Factors cited...Read More
(Kitco News) - Gold prices aremodestly lower on a normal downside technical correction after hitting a seven-weekhigh Tuesday. Prices are still within striking distance of the key $1,300.00mark. Major news events lie just ahead that are likely to move the preciousmetals markets. August Comex gold was last down $5.40 an ounce at $1,292.10.JulyComex silver was last down $0.10 at $17.61 an ounce. Ter...Read More
TMAC Resources (TSX: TMR) has officially kicked off commercial production at its Doris gold mine and mill at the Hope Bay project in Canada's far north, which has now become Nunavut's second operating gold mine and the first one ever in the western area of the Territory.The explorer, which poured its first gold bar at the mine in February, is celebrating the ramp up toward full production by flyi...Read More
Anglo American (LON:AAL), the world's fifth largest diversified miner, has appointed Stuart Chambers to succeed Sir John Parker as chairman of the group.Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November.Stuart Chambers is known for his active participation in the sale of several UK companies, includi...Read More
Allegations made against Trump Administration representatives and the firing of Jim Comey have raised risk to the U.S. dollar and securities.Thus, the SPDR Gold Trust should continue to enjoy strong support this week at least into the key testimony of Comey.What happens immediately after the testimony depends greatly on the testimony itself, and a sell-the-news event is very possible for the GLD l...Read More