* US stocks sink; key indexes drop about 2 percent* Bond yields add to rate worries* BOE's hawkish message lifts sterling, gilt yields* Sentiment in stock markets remains frail* Oil falls as US output soars, N Sea supply restarts (Updates with European shares' close, adds quote)By Caroline ValetkevitchNEW YORK, Feb 8 (Reuters) - Stocks in world markets remained on shaky ground on Thursday, with ma...Read More
Feb 9 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 5,890.70 13.90 NZX 50**8,177.14 -17.59DJIA24,313.85-579.50 NIKKEI**21,890.86245.49Nasdaq6,898.682-153.30 FTSE**7,170.69 -108.73S&P 500 2,627.57 -54.09Hang Seng** 30,451.27128.07SPI 200 Fut 5,726.00 -86.00STI** 3,415.932.13SSEC**3,262.15 -47.11KOSPI** 2,407.62 11.06-----------------------------------------------------...Read More
(Adds details, quotes)WASHINGTON, Feb 8 (Reuters) - New York Federal Reserve President William Dudley said on Thursday that as long as the U.S. economy continue to grow at an above trend pace, he would be in favor of another interest rate rise at the U.S. central bank's upcoming meeting in March."We have above-trend growth, we have buoyant financial conditions, we still have an easy monetary...Read More
(Kitco News) - Gold prices wereending the U.S. day session with moderate gains Thursday. Another big sell offin the U.S. stock market prompted safe-haven demand in both gold and silvermarkets. Bargain hunters also stepped into both markets after they had droppedto multi-week lows early on today. April Comex gold futures were last up $4.80an ounce at $1,319.40. March Comex silver was last up $0.092...Read More
(Kitco News)- Gold prices have bounced off a five-week low, finding newtechnical momentum because of safe-haven demand according to some analyst.April gold futures have pushed to session highs Thursday afternoon-- last trading at $1,319.90 an ounce, up 0.40% on the day -- as equity marketsacross the board push lower. At one point the Dow Jones Industrial Average wasdown more than 600 points intrad...Read More
(Adds details from speech, quote, background, byline)By Andrea HopkinsMONTEBELLO, Quebec, Feb 8 (Reuters) - Technological advances will raise global economic growth, but policymakers will need to take steps to keep firms' market concentration in check and ensure workers are not left behind, a senior Bank of Canada official said on Thursday.In a speech that did not discuss monetary policy, Bank of...Read More
(In paragraph 12, corrects year to 2017 intead of 2016)* KKR management, board evaluating whether to convert to C-Corp* Change would expand possible shareholder base* But firm would lose certain tax advantages* KKR Q4 earnings miss analyst expectations By Joshua FranklinNEW YORK, Feb 8 (Reuters) - KKR & Co LP said on Thursday its top executives were evaluating whether to structure the compan...Read More
* BoE: rates might rise "somewhat" earlier and more than thought* BoE: returning to "more conventional" timing for inflation fight* Growth forecast edges up for next three years, inflation weaker* Sterling jumps a cent against U.S dollar, gilt prices fall (Adds economists, weakening of sterling)By William Schomberg and David MillikenLONDON, Feb 8 (Reuters) - The Bank of England...Read More
NEW YORK, Feb 8 (Reuters) - The U.S. Treasury Department on Thursday sold $16 billion of 30-year government bonds at a yield of 3.121 percent, which was the highest yield at a 30-year auction in 11 months, Treasury data showed.The ratio of bids to the amount of 30-year issue offered was 2.26, marking its weakest reading since November. This gauge of overall auction demand was 2.74 at the prior 30-...Read More
Shares of Facebook Inc (NASDAQ:FB) fell 2.8% on Wednesday, after Snap (NYSE:SNAP) -- which owns Instagram rival Snapchat -- reported impressive earnings. The FAANG stock has sold off alongside the broader stock market in recent weeks, but is now trading near a trendline that historically has had bullish implications. If past is precedent, FB shares could be headed back near record-high territory i...Read More
MUMBAI, Feb 8 (Reuters) - India has imposed a limit on the amount of sugar that mills can sell in the market during February and March, according to a government order late on Thursday, as the world's second biggest producer tries to prop up prices of the sweetener.At the end of February mills need to be holding as inventory at least 83 percent of the opening stock from January and February's prod...Read More
CAPE TOWN, Feb 8 (Reuters) - Mining is a long-term game, but in southern Africa dramatic political changes have transformed the investment mood for the better in the space of a year.Angola's Jose Eduardo dos Santos and Zimbabwe's Robert Mugabe stepped down in 2017 after a combined 75 years in office, while the election of Cyril Ramaphosa as head of South Africa's ruling ANC heralds the looming end...Read More
* Dow sinks another 500 points* 10-year bond yields creep up to near four-year highs* Weekly jobless claims fall to lowest level in nearly 45 years* Volatility measure VIX eases but remains elevated at 29.82* Dow -2.01 pct, S&P -1.65 pct, Nasdaq -1.83 pct (Updates to early afternoon)By Tanya AgrawalFeb 8 (Reuters) - The Dow Jones Industrial Average sank another 500 points on Thursday as a rene...Read More
(Bloomberg) - Endeavour Mining Corp. one of the fastest-growing gold producers in Africa, says bigger isn't always better."One of the reasons the majors have failed over the years is they've built such large corporate teams that the decision-making processes within those organizations is so slow," Chief Executive Officer Sebastien De Montessus said in an interview in Cape Town. "Being able to rem...Read More
WASHINGTON, Feb 8 (Reuters) - New York Federal Reserve President William Dudley said on Thursday that as long as the U.S. economy continues to grow above trend this year, he would be in favor of another interest rate rise at the U.S. central bank's upcoming meeting in March."As long as I am comfortable the economy continues to grow at an above-trend pace at a time that I think monetary policy...Read More
CAIRO, Feb 8 (Reuters) - Average yields on Egypt's six-month and one-year treasury bills fell on Thursday, data from the central bank showed, extending a decline that has taken yields to their lowest levels since the country floated its currency in late 2016.The yield on the 182-day bill fell to 17.358 percent from 17.611 percent at the last similar auction, and the yield on the 357-day bill fell...Read More
Feb 8 (Reuters) - Russian gold miner Petropavlovsk named Roman Deniskin as its chief executive on Thursday, following the resignation last year of its long-time CEO and co-founder.The appointment comes less than a month after Kazakh businessman Kenges Rakishev, who owns a 22 percent stake in Petropavlovsk, told Reuters that he wanted to bring back co-founder Pavel Maslovskiy as CEO.Maslovskiy resi...Read More
* Aluminium touches lowest in six weeks* GRAPHIC-2018 asset returns: * LME/ShFE arb: (Updates with closing prices)By Eric OnstadLONDON, Feb 8 (Reuters) - Copper extended its downtrend on Thursday, touching its lowest in nearly eight weeks, after another big rise of inventories highlighted that the market currently has healthy supplies.On-warrant copper inventories in warehouses certified by the Lo...Read More
Gold's short-term prospects have diminished, but all is not lost.Even as the dollar strengthens, gold's 2-year recovery remains intact.CRB raw industrials index holds the key to gold's longer-term future.After an impressive upside run over the last several weeks, the price of gold is showing weakness once again. This has caused participants to wonder how much lower the gold price must...Read More
* Higher U.S. Treasury yields underpin dollar* Dollar rebound likely unsustainable this year - poll* Dollar likely in bear market correction-analysts* Graphic: World FX rates in 2018 (Recasts, updates prices, adds comment, FX table, changes byline, dateline; previous LONDON)By Gertrude Chavez-DreyfussNEW YORK, Feb 8 (Reuters) - The dollar hit two-week highs against a basket of currencies in choppy...Read More