• A goodish USD rebound prompts some profit-taking. • Risk-on mood adds to the downward pressure. • US economic data eyed for some fresh trading impetus. Gold surrendered a major part of its early gains to 3-week tops and has now retreated to $1355 level ahead of the US economic data. A goodish US Dollar rebound from...Read More
Steel stocks are skyrocketing this afternoon, after the Commerce Department recommended the Trump administration impose steep tariffs and quotas on imports of steel and aluminum.Against this backdrop, options volume is skyrocketing on a handful of domestic steel producers, including Steel Dynamics, Inc. (NASDAQ:STLD) and United States Steel Corporation (NYSE:X).STLD Attracts Eleventh-Hour Option B...Read More
* German 10-year bond yields drops to 0.699 percent* Euro zone bond yields still set to end week higher* U.S. 2-year yields set for biggest weekly rise in almost a year* Euro zone periphery govt bond yields - (Adds in German 10-year Bund yield low)By Dhara Ranasinghe and Fanny PotkinLONDON, Feb 16 (Reuters) - Euro area borrowing costs fell on Friday, with Germany's 10-year yield dropping to a one-...Read More
By Michelle SierraNEW YORK, Feb 16 (LPC) - Broadcom's US$100m loan package backing its proposed US$121bn acquisition of Qualcomm, is set to become the biggest-ever syndicated loan globally if the hostile deal goes ahead.US bankers are eagerly anticipating the mega financing, which breaches psychological barriers as the loan market moves to the next level, as well as potentially setting more record...Read More
LONDON, Feb 16 (Reuters) - Gold miner Acacia Mining confirmed on Friday it had begun to value its Tanzanian operations for a potential sale after expressions of interest from Chinese buyers."The Company is engaging with a small number of potential investors, the process remains at a very early stage and there can be no certainty that an agreement will be reached," the London-listed miner...Read More
* Graphic: World FX rates in 2018 * Graphic: Trade-weighted sterling since Brexit vote (Adds details, updates prices)LONDON, Feb 16 (Reuters) - The pound fell on Friday against a stronger dollar but rose versus the euro, with traders watching for any positive signs from a visit to Berlin by Prime Minister Theresa May.May is visiting German leader Angela Merkel, hoping to make progress on overcomin...Read More
* Merkel says Nord Stream 2 no threat to diversification* Says wants Ukraine to still have gas transit traffic* Poland fears increased dependence on Russian gas* Polish PM: Nord Stream 2 menaces Ukraine's existence (Adds quotes from Polish PM)By Joseph Nasr and Noah Barkin BERLIN, Feb 16 (Reuters) - The planned Nord Stream 2 gas pipeline connecting Germany and Russia poses no threat to Europe's en...Read More
* Liberal billionaire strongly backs EU, eurozone* Meeting with ECB's Coeure rattles some lawmakers* Germany opposed to common budget (Adds comment from Soros spokesman)By Francesco CanepaFRANKFURT, Feb 16 (Reuters) - Billionaire investor and activist George Soros has met a European Central Bank director to argue for closer euro zone integration, prompting criticism from some EU lawmakers who fear...Read More
* Jan. homebuilding data jumps to more than 1-year high* Indexes up: Dow 0.36 pct, S&P 0.29 pct, Nasdaq 0.19 pct* S&P, Nasdaq set for best week since December 2011* Healthcare stocks lead gainers on S&P, Dow (Changes comment, adds details, updates prices)By Sruthi ShankarFeb 16 (Reuters) - U.S. stocks rose on Friday, led by gains in technology and healthcare stocks, putting the main in...Read More
Stocks have been showing wild swings and volatility.Increased volatility is great for precious metals.The real key is preserving the wealth during times of crises.A real gold discovery can take a junior trading for pennies into a major producer.Don't forget forty year cycle for gold rushes we may be on the verge of the next one!Is gold finally about to breakout from a 5 year base and hit new h...Read More
It's another positive trading day, with the Dow Jones Industrial Average (DJI) eyeing a sixth straight win -- its longest daily win streak since early November. In addition to strong Coca-Cola earnings, upbeat economic data is also helping to lift investor sentiment. Namely, housing starts hit their highest point in more than a year, building permits climbed to a 10-year peak, and consumer sentime...Read More
Fast food stock Jack in the Box Inc. (NASDAQ:JACK) is rallying today, after Jana Partners disclosed a 7.3% stake in the company. According to an SEC filing, the hedge fund believes JACK shares are undervalued, and has held discussions with management regarding its capital structure and allocations, margins, operations, and franchise mix. Going forward, Jana may "take other steps to increase shareh...Read More
ACCRA, Feb 16 (Reuters) - The Bank of Ghana said the yield on its weekly 91-day bill dipped to 13.34 percent at an auction on Friday from 13.36 percent at the last such sale, on Feb. 9.The bank said it had accepted all 447.14 million cedis ($100 million) worth of bids tendered for the paper, which will be issued on Monday.Ghana's treasury bill yields have stayed around 13 percent since August afte...Read More
The S&P 500 Index (SPX) last week suffered its worst week since 2016. However, U.S. stocks have been on a tear since then, with the major market indexes pacing for their sixth straight gain, and the SPX on track for its best week since December 2011, up 4.7% so far. Should these gains hold, it would send up a stock market signal not seen since 2001.S&P Pacing for 10th Signal EverSpecifically, the...Read More
(Kitco News) - WallStreet analysts have once again joined Main Street with a bullish short-termoutlook on gold, based on the weekly Kitco News gold survey. Wall Street Bullish Bearish Neutral VSMain Street Bullish Bearish Neutral Twentymarket professionals took part in the Wall Street survey, with twelve, or 60%,calling for gold to rise in the next week. Previously, Wall Stree...Read More
* Stocks shrug off inflation fears: * The long view: stocks vs. bonds: * Bond yield rise cuts equity risk premium: By Ritvik CarvalhoLONDON, Feb 16 (Reuters) - Global stocks seem to have finally stopped worrying about their bond market cousins.The last few weeks' turbulence on world equity markets was triggered largely by a slide in U.S. Treasuries that saw 10-year borrowing costs surge towards 3...Read More
Shares in Rio Tinto-controlled Turquoise Hill Resources opened 3% lower on Friday after the Mongolian government reinstated a decade-old agreement ordering the Vancouver-based company to source power for its Oyu Tolgoi mine domestically.Rio Tinto, down 1.8% in New York, could face higher costs on its $5.3 billion underground expansion of the giant copper-gold mine in the South Gobi desert near t...Read More
Offshore drilling contractor Transocean Ltd. (NYSE:RIG) is slated to report fourth-quarter earnings after the market closes next Tuesday, Feb. 20, with consensus estimates calling for a loss of 27 cents per share. RIG has managed to trade higher the day after earnings following six of its last eight quarterly reports -- but ahead of next week's reports, traders on Wall Street appear to be bracing...Read More
The gold miners' stocks weathered the recent stock-market plunge really well. As evident in their leading GDX ETF, they were already beaten down before stock markets started falling. The resulting explosion of fear bled into GDX, forcing it even lower. Nevertheless, no major technical damage was done. GDX remained well within its consolidation trend channel and is still within striking dis...Read More
* Sales process to begin quickly, but no time frame given* Condition of sale that company retain its "green" profile* Boards, shareholders both satisfied with arbitration (Updates with details, background)By Toby SterlingAMSTERDAM, Feb 16 (Reuters) - Dutch energy company Eneco, valued at up to 4 billion euros ($5 billion), will be privatised after its municipal shareholders and managemen...Read More