(Adds close of U.S. markets)* S&P, Nasdaq hit record highs after Powell remarks* Oil surges on China demand, signs that Iran supply curbed* Dollar dips as Powell reaffirms Fed rate-hike policyBy Herbert LashNEW YORK, Aug 24 (Reuters) - Global equity markets rose on Friday after Federal Reserve Chairman Jerome Powell said the U.S. central bank's policies are best to keep the economy humming, sp...Read More
* Both benchmarks set for weekly rise, ending weeks of declines* China's Unipec will resume purchases of U.S. crude - sources* Dollar falls after Fed chair signals further rate hikes* North Sea strike to affect three oil, gas platforms* U.S. drillers cut most oil rigs in over 2 years- Baker Hughes (Updates with settlement prices, CFTC data, recasts lead)By Jessica Resnick-AultNEW YORK, Aug 24 (Reu...Read More
* Both indexes close 0.22 pct lower* Both post 5th straight weekly gainAug 24 (Reuters) - Indian shares closed lower on Friday after four straight sessions of gains, as investors took a breather following a record-setting spree.Financial and consumer stocks were among the top losers with ICICI Bank ICBK.NS shedding 2.1 percent and Yes Bank YESB.NS down 3.7 percent.The benchmark BSE index .BSESN...Read More
Investing.com - Bitcoin and other cryptocurrencies were higher on Friday after the U.S. Securities and Exchange Commission (SEC) said it would review a decision to reject the applications of Bitcoin exchange traded funds.The SEC rejected the applications from nine companies to list their Bitcoin ETF funds on Wednesday, citing concerns about fraud and manipulation of bitcoin markets. The proposals...Read More
* FTSE 100 up 0.2 pct at close* Weak dollar boosts miners, energy stocks* Norway sovereign wealth fund ruling boosts oil majors* Shire leads FTSE 100 on FDA drug approval(Adds detail and closing prices)By Helen ReidLONDON, Aug 24 (Reuters) - Britain's major stock index rose on Friday, propped up by Shire and commodity sectors as investors digested a speech by the U.S. Fed chief and the lack of a...Read More
Investing.com - Gold prices traded higher on Friday as Federal Reserve chairman Jerome Powell emphasized the central bank’s plans for gradual interest rate hikes would be conditioned on the continued strength of the U.S. economy and labor market.At 11:06 AM ET (15:06 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange gained $20.00, or 1.68%, to...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 flat* Norway sovereign wealth fund ruling boosts oil majors* Shire leads FTSE 100 on FDA drug approvalBy Helen ReidLONDON, Aug 24 (Reuters) - Britain's major stock index faltered on Friday, propped up by Shire and oil stocks, while investors awaited a speech by the U.S. Fed Chair and digested U.S.-China trade talk...Read More
The cobalt bluesSince hitting near decade highs in March, battery raw material cobalt is down by more than a third as new supply from the Congo, responsible for the bulk of cobalt mining, enter the market.Cobalt sulphate prices, the refined form commonly used in the battery supply chain, has also succumbed and is trading at its lowest level since November 2017.Cobalt is by far the priciest compone...Read More
Ford has issued a recall for more than 50,000 120-volt so-called "convenience" charging cables sold to customers of its battery-powered and plug-in hybrid vehicles in North America.According to a report in Collision Repair Magazine Ford said using the charging cord in an outlet that is not on a dedicated circuit, is damaged, worn or corroded could result in fires:We already expect US EV penetratio...Read More
MELBOURNE, Aug 24 (Reuters) - As Australia's big miners gear up for a new round of expansion after years of belt tightening, prices for everything from labour to fuel to equipment have begun to rise, driving up costs and eating into margins. Manage inflation pretty aggressively over the next 18 months otherwise it will erode margins.Having repaired their balance sheets after a harrowing shake-out...Read More
China's Sichuan Road & Bridge Mining Investment Development Corp. is gearing up to kick off copper, zinc, gold and silver production in Eritrea next year, following the country's recent end to its 20-year border war with neighbour Ethiopia.Asmara will be the third operating mine in the northeast African country, home until now to Nevsun Resources' Bisha gold-copper-zinc mine and Shanghai SFECO's...Read More
MUMBAI, Aug 23 (Reuters) - India's debt mutual fund managers need to be vigilant and appropriately value their investments in corporate papers, even as a bulk of the money comes from institutional investors, the chief of the country's market regulator said on Thursday."It is for the mutual fund industry which bears the credit risk," said Ajay Tyagi, Chairman, Securities and Exchange Board of India...Read More
* U.S.-China trade fight dampens global growth outlook* $16 billion trade tariffs imposed from Thursday* U.S. crude output rises back to 11 million bpd (Updates with settlement prices)By Jessica Resnick-AultNEW YORK, Aug 23 (Reuters) - Oil prices steadied on Thursday as the escalating trade war between the United States and China weighed on demand expectations a day after prices jumped on a big dr...Read More
(Adds U.S. market open, byline, dateline; previous LONDON)* Fresh round of U.S.-China trade tariffs take effect* Dollar snaps losing streak after Fed signals Sept rate hikeBy Herbert LashNEW YORK, Aug 23 (Reuters) - Oil and copper prices slipped on Thursday as the U.S.-China trade dispute escalated while global equity markets traded slightly lower as gains in U.S. technology shares offset declines...Read More
(Adds close of U.S. markets)* More U.S.-China trade tariffs take effect* Oil prices stabilize, weighed down by trade war* Dollar snaps losing streak after Fed signals Sept rate hikeBy Herbert LashNEW YORK, Aug 23 (Reuters) - Oil and copper prices edged lower on Thursday as the U.S.-China trade dispute escalated while global equity markets fell as gains in U.S. technology shares failed to offset de...Read More
* FTSE 100 down 0.15 pct* A number of shares trading ex-dividend* CRH rises after H1 report (Adds closing prices)By Julien PonthusLONDON, Aug 23 (Reuters) - UK shares gradually slid into negative territory on Thursday as trade tensions between China and the United States kept investors on their toes and a change of sentiment after the open on Wall Street weighed on shares.The blue-chip FTSE 100...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.2 pct* A number of shares trading ex-dividend* CRH rises after H1 reportBy Julien PonthusLONDON, Aug 23 (Reuters) - UK shares were slightly up on Thursday with energy stocks lifting the blue-chip FTSE 100 .FTSE following a rally in crude oil, while ongoing trade war tensions between China and the United State...Read More
* World stocks edge lower, European shares edge up* Fresh round of U.S.-China trade tariffs take effect* Trump threatened by legal woes of two former advisers* Dollar snaps losing streak after Fed signal Sept rate hikeBy Kit ReesLONDON, Aug 23 (Reuters) - World stocks came under pressure on Thursday as new tariffs took effect in the U.S./China trade war and markets speculated about U.S. President...Read More
The junior gold miners' stocks have been thrashed in August, plummeting to brutal multi-year lows. Such carnage naturally left sentiment far more bearish than usual in this forsaken contrarian sector. But these extremely-battered gold-stock prices certainly aren't justified fundamentally. Junior gold miners' collective results from their just-completed Q2'18 earnings season prove their stock price...Read More
MELBOURNE, Aug 24 (Reuters) - The risk of blackouts in Australia's upcoming summer has grown from last year as ageing coal-fired power plants have become less reliable, the nation's energy market operator said on Friday, calling for more power investment in the next few years.The Australian Energy Market Operator's (AEMO) latest outlook underscores worries about the country's grid just days after...Read More