BUENOS AIRES, Feb 9 (Reuters) - Peru's economy likely grew between 2.4 and 2.5 percent in 2017, Jorge Estrella, the manager of the central bank's economic studies, told journalists in a conference call on Friday.The central bank had previously estimated growth of 2.7 percent for last year.(Reporting by Teresa Cespedes and Marco Aquino; Writing by Caroline Stauffer Editing by Chizu Nomiyama) Discl...Read More
JOHANNESBURG, Feb 9 (Reuters) - African miner Thor Explorations will most likely choose London's junior AIM market to list its shares this year in its bid to raise up to $35 million, its chief executive said on Friday.Thor, which is already listed in Toronto's TSX Venture Exchange (TSX-V), will use the proceeds of the new listing mainly to fund its Segilola Gold Project in Nigeria. The company als...Read More
* SWFs anchor a record 26 IPOs in 2017-SWF Institute* Way for SWFs to take chunky stakes in EM stocks* Companies benefit from long-term, stable investors By Claire MilhenchLONDON, Feb 9 (Reuters) - A Mexican tequila maker, a Vietnamese mall operator and Indian life insurers were just some of the stockmarket debuts that enticed sovereign investors to take chunky stakes in record numbers last year,...Read More
Feb 9 (Reuters) - U.S. stock indexes slipped into correction territory again with a drop of more than more than 1 percent on Friday, as soaring volatility continued to spook investors.The Dow Jones Industrial Average was down 284.41 points, or 1.19 percent, at 23,576.05, the S&P 500 was down 25.03 points, or 0.969779 percent, at 2,555.97 and the Nasdaq Composite was down 82.50 points, or 1.22...Read More
The unnaturally-tranquil stock markets suddenly plunged over this past week. Volatility skyrocketed out of the blue and shattered years of artificial calm conjured by extreme central-bank distortions. This was a huge shock to the legions of hyper-complacent traders, who are realizing stocks don't rally forever. With stock selling unleashed again, herd psychology will start shifting back to b...Read More
* Fresh sell-off on stock markets hurts cyclical assets* GRAPHIC-2018 asset returns: * LME/ShFE arb: (Adds closing prices)By Jan HarveyLONDON, Feb 9 (Reuters) - Copper fell on Friday and other metals broadly retreated as stock markets extended this week's sharp slide, with the prospect of rising U.S. interest rates denting hopes that surging economic growth would drive up demand. Consequent sellin...Read More
Yamana Gold Inc. Inc. (TSX: YRI)(NYSE: AUY)announces that the company has filed an “early warning report” under NationalInstrument 62-103 in connection with Leagold Mining Corp.’s previouslyannounced intention to make an offer to acquire all outstanding common sharesof Brio Gold Inc. In the event Leagold makes an offer, Yamana says it hasagreed to tender its 63 million Brio share...Read More
MAPUTO, Feb 9 (Reuters) - Mozambique's economic growth slowed to 3.7 percent in 2017, official data showed on Friday, compared with a revised 3.8 percent expansion a year earlier. The growth was boosted by the southeastern African country's mining sector, which grew by nearly a third, data from the National Statistics Institute showed. (Reporting by Manuel Mucari; Editing by Kevin Liffey) Disclai...Read More
(Adds analyst's comment)By Alexis Akwagyiram and Chijioke OhuochaLAGOS, Feb 9 (Reuters) - Britain's export finance agency will add the naira to its list of "pre-approved currencies", allowing it to provide financing for transactions with Nigerian businesses denominated in the local currency.The naira will become one of three West African currencies that UK Export Finance has pre-approve...Read More
Gold is still stymied by dollar strength and other factors.Gold mining stock weakness has been a major obstacle for gold.Gold's relative strength (vs. equities) is encouraging, however. In what has been a choppy week of trading, the gold price finally benefited from some safety buying on Thursday. April gold futures rose 0.3 percent to $1,322 on Feb. 8 as global equity markets continued to sho...Read More
ACCRA, Feb 9 (Reuters) - The Bank of Ghana said the yield on its weekly 91-day bill rose to 13.36 percent at an auction on Friday from 13.32 percent at the last such sale, on Feb. 2.The bank said it had accepted all 415.4 million cedis ($93.5 million) worth of bids tendered for the paper, which will be issued on Monday.Ghana's treasury bill yields have fallen to around 13 percent in the past six m...Read More
FRANKFURT, Feb 9 (Reuters) - BMW is close to signing a 10-year supply contract for lithium and cobalt, the company's procurement chief told Germany's Frankfurter Allgemeine Zeitung, amid an industry-wide scramble for raw materials needed for electric car batteries."The aim is to secure the supply all the way down to the level of the mine, for 10 years. The contracts are ready to be signed,&qu...Read More
It's another wild day of trading for U.S. stocks, as recent volatility persists. The Dow Jones Industrial Average (DJI) has traded in a range of more than 500 points on both sides of breakeven, but was last seen modestly lower. After plunging into correction territory yesterday, the index is now pacing for its worst week since October 2008, during the heart of the financial crisis. The S&P 500 Ind...Read More
(Kitco News)- The gold market is ending its secondconsecutive week in negative territory and many investors are asking: Whathappened?Gold’s losses come as equitymarkets fell sharply into corrective territory, with the past week seeing the Dow Jones Industrial Average shedding more than 1,000 points in two sessions.In total, the Dow, last trading at 23,784 points is down more than 6% sincelas...Read More
* Stocks selloff lends some support to bonds* But sentiment still weak on central bank worries* Euro zone periphery govt bond yields (Updates prices, adds in Greece and BOJ)By Dhara Ranasinghe and Sujata RaoLONDON, Feb 9 (Reuters) - Core euro zone bond yields edged down on Friday as renewed selling in world stocks lent some support to safe-haven debt markets, which themselves have been bruised as...Read More
LONDON, Feb 9 (Reuters) - Curbing the ability of asset managers located in Britain to run funds based in the European Union after Brexit would go against global norms and could fragment markets, Bank of England Deputy Governor Jon Cunliffe said on Friday.The bloc has published guidance on how UK-based asset managers could continue to run funds in the bloc after Britain leaves the EU in March 2019....Read More
* Euro on course for worst week since November 2016* Dollar backs off four-month lows vs yen as safe-haven bids fade* Strategists expect dollar weakness to resume despite rally* Currency market volatility rises less than stocks, bonds (Updates market action, changes dateline, previous LONDON)By Richard Leong and Kate DuguidNEW YORK, Feb 9 (Reuters) - The dollar rose on Friday, putting it on track...Read More
* Nvidia jumps after upbeat results, forecast* Expedia slips on disappointing 2018 guidance* Yields on 10-yr U.S. notes end week little changed* Dow down 0.14 pct, S&P and Nasdaq up less than 0.1 pct (Changes comment, updates prices, adds details)By Sruthi ShankarFeb 9 (Reuters) - U.S. stocks indexes were little changed in volatile trading on Friday, after jumping more than 1 percent at the op...Read More
By Kristen HaunssNEW YORK, Feb 9 (Reuters) - A US court ruled on Friday that Collateralised Loan Obligation (CLO) funds should be exempt from the Dodd-Frank financial reform legislation requirement that managers hold some of their fund.The ruling will allow CLOs to save money as they will no longer have to buy some of their fund in order to meet regulators' 'skin in the game' requirements. The US...Read More
(Kitco News) - WallStreet and Main Street continue to have opposing viewpoints on the short-termprice direction of gold, although the difference has narrowed, based on theweekly Kitco News gold survey. Wall Street Bullish Bearish Neutral VSMain Street Bullish Bearish Neutral Forthe second Friday in a row, the largest Wall Street bloc of voters called forgold to fall over the n...Read More