(Kitco News)- Although the silver market has struggled to find momentumsince the start of 2018, one investment firm is not giving up on the whitemetal.In a recent report, Maxwell Gold, director of investmentstrategy and research at ETF Securities, said that he still expects silver tooutperform gold this years, as investors adjust to growing industrial demanddue to renewed global economic growth.Th...Read More
BRASILIA, Feb 19 (Reuters) - Eunicio Oliveira, the head of Brazil's Senate, said on Monday that the federal government's military intervention in Rio de Janeiro would, by the rules of the country's constitution, block any vote on pension reform or any other measure requiring a constitutional amendment. President Michel Temer last week ordered Brazil's army to take command of all security forces in...Read More
By Bruno FederowskiSAO PAULO, Feb 19 (Reuters) - Brazilian stocks rose on Monday on thin trading volumes following a heavy batch of corporate updates.The benchmark Bovespa stock index rose 0.3 percent, supported by shares of state-controlled oil company Petr??leo Brasileiro SA on the heels of rising crude prices.Shares in electronics and appliance retailer Via Varejo SA rose 1.1 percent following...Read More
BRUSSELS, Feb 19 (Reuters) - Spanish Economy Minister Luis de Guindos said he would defend the independence of the European Central Bank after being chosen as its new Vice President from June by euro zone ministers."I have been a minister, but to be a minister is something that does not limit the defence that I make on the independence of the European Central Bank. I will defend the independe...Read More
RIGA, Feb 19 (Reuters) - Latvia's anti-corruption agency released central bank Governor Ilmars Rimsevics from custody on Monday after accusing him of soliciting a bribe.Video footage from Latvian news portal Delfi showed Rimsevics rejecting the allegations as he was released. "I disagree with it categorically," Rimsevics told reporters. (Reporting by Gederts Gelzis; Editing by Catherine...Read More
While the United Nations' International Seabed Authority (ISA) in charge of issuing mineral exploration licences has granted 26 so far, Papua New Guinea remains the only country to have granted an operating permit for ocean floor mining.Canada's Nautilus is on track to start operations at its Solwara gold, copper and silver project in the Bismarck sea off PNG in early 2019, making it the first und...Read More
Bleeding U.S. dollar.Two sides of a reserve currency's international appeal.Europe's triumphant comeback. The U.S. dollar has been bleeding recently, despite all the Fed's tightening efforts and the passage of Trump's tax cuts. An accelerating economy, rising interest rates and pro-growth reforms should logically drive the value of the American currency. But they didn't. Given the strong negative...Read More
By Elizabeth Piper and Paul SandleLONDON, Feb 19 (Reuters) - British universities must offer students value for money, Prime Minister Theresa May said on Monday, launching a review that could reduce fees and restore grants in a bid to entice younger voters who helped punish her party at an election last year.In a speech designed to show her programme for Britain is more than just its departure fro...Read More
BRUSSELS, Feb 19 (Reuters) - Euro zone ministers on Monday chose Spanish Economy Minister Luis de Guindos to succeed European Central Bank Vice President Vitor Constancio at the end of May, they said in a statement."The Eurogroup today gave its support to the candidacy of Luis de Guindos for the position of Vice President of the European Central Bank," the ministers said.The nomination w...Read More
LONDON, Feb 19 (Reuters) - The value of global mining and metals deals hit a four-year high in 2017, according to accountancy firm EY, as financial distress abated and companies sold off non-core assets.Mining and metals deals totalled $51 billion last year, up 15 percent from 2016 and dominated by coal and steel transactions, although the volume of transactions fell 6 percent."The focus for...Read More
* U.S. dollar enjoys bounce after recent falls* Euro slips below $1.24; yen down slightly* Trading lighter than normal with U.S., Asian holidays* Graphic: World FX rates in 2018 By Tommy WilkesLONDON, Feb 19 (Reuters) - The dollar enjoyed a small rebound on Monday as investors bought back the greenback after its plunge to three-year lows, although analysts said any recovery looked set to be brief...Read More
By Anshuman Daga and Jacob Gronholt-PedersenSINGAPORE/COPENHAGEN, Feb 19 (Reuters) - Private equity firm EQT has put Denmark-based Nordic Aviation Capital (NAC), the world's largest regional aircraft lessor, up for sale just 2-1/2 years after buying a majority stake in the company, two sources familiar with the matter said. Swedish private equity firm EQT acquired a 54 percent stake in NAC in Augu...Read More
The value of global mining and metals deals hit a four-year high in 2017, according to accountancy firm EY, boosted by a jump in money raised on stock exchanges to a six-year high.Mining and metals deals totalled $51 billion last year, up 15% from 2016. Activity was dominated by coal and steel transactions. However, the volume of deals fell 6% as M&A focus in the sector started shifting from dives...Read More
* Rand weakens along with emerging markets* Markets await budget speech on Wednesday* Stocks down amid low trading volumes (Adds latest figures, analyst quotes)JOHANNESBURG, Feb 19 (Reuters) - South Africa's rand weakened along with other emerging currencies on Monday as the dollar regained ground it lost last week and investors awaited details of new president Cyril Ramaphosa's plans to revive th...Read More
(Adds comments, background)By Polina Nikolskaya and Zlata GarasyutaMOSCOW, Feb 19 (Reuters) - Real wages in Russia rose more than expected in January but real disposable incomes could be lower than official statistics show ahead of a presidential election on March 18, analysts said on Monday. The oil-dependent economy grew 1.5 percent last year after two years of recession, missing an official for...Read More
BRATISLAVA, Feb 19 (Reuters) - Slovakia began trading of state bonds on the MTS trading platform on Monday, in an effort to increase liquidity in its secondary market and lower its risk premium, the country's debt management agency said.The central European country, a member of the euro zone since 2009, has enjoyed a comfortable borrowing position with declining budget deficits and an economy outp...Read More
(Adds CEO comments)By Carolina MandlSAO PAULO, Feb 19 (Reuters) - Shares in Brazilian insurance holding company BB Seguridade fell on Monday after management said raising profit will continue to be a challenge this year as interest rates reach their lowest level ever in the country.Shares were down 3.2 percent in mid-morning trading in Sao Paulo at 30.72 reais after BB Seguridade missed fourth-qu...Read More
Major gold-backed exchange traded products, such as the SPDR Gold Shares GLD, -0.33% and the iShares Gold Trust IAU, -0.31% are sporting solid year-to-date showings. Some market observers, however, are voicing concerns about the yellow metal after it declined during the volatility spike earlier this month. Gold's lack of positive response to the surge in the CBOE Volatility Index, also known as th...Read More
RIGA, Feb 19 (Reuters) - Latvia's ABLV Bank said on Monday it had never violated sanctions, rejecting an assertion by the US Treasury Department's Financial Crimes Enforcement Network (FCEN)."We don't participate in any illegal activities," Deputy CEO Vadims Reinfelds told a news conference. "There are no violations of sanctions."The bank said depositors had withdrawn around 60...Read More
(Adds background)KHOBAR, Saudi Arabia, Feb 19 (Reuters) - Saudi Arabia increased its crude oil exports slightly in December to 7.045 million barrels per day (bpd), official data showed on Monday.OPEC's biggest producer, which has cut output since last year under an agreement between OPEC and other producers to ease a supply glut, pumped 9.980 million bpd of oil in December, according to the data...Read More