LONDON, Feb 7 (Reuters) - Britain's markets watchdog warned banks on Wednesday it would intervene if they use concerns over customer account security as an excuse to stifle competition on the high street.The European Union introduced rules in January that would allow licensed start-ups or retailers to take payments directly from a bank account, or tap transaction history from an account in order t...Read More
The price of no asset can move up or down in a straight line, so why should mining stocks be any different? They have been declining relentlessly for almost 2 weeks, erasing more than 10% of their value. Sharp? Definitely. Unsustainable? Perhaps. When will the turnaround take place? It depends.It depends on the bullish signs and confirmations that we get. The correct question to be asking now is:...Read More
(Bloomberg) - China's growing throng of affluent consumers is driving a rebound in demand for gold rings, bracelets and necklaces as a property boom and high stock market valuations boost wealth in the largest bullion market."Things are much more positive than they were this time last year," and the jewelry market has bottomed out after three years of declines, said Nikos Kavalis, London-based di...Read More
* Central bank keeps key rate at 1.5 pct, as expected* Governor say stable rates are good for economy* Says zloty strength has not hurt exports so far (Adds quotes, details)By Pawel Florkiewicz and Marcin GoettigWARSAW, Feb 7 (Reuters) - Interest rates in Poland probably won't change until the end of 2018, central bank Governor Adam Glapinski said on Wednesday, adding that the strength of the zlot...Read More
As the U.S. stock market recovers from its worst sell-off in years, many traders have an eye out for bargain trading opportunities. According to data from Schaeffer's Senior Quantitative Analyst Rocky White, freight specialist C.H. Robinson Worldwide Inc (NASDAQ:CHRW) has been one of the best stocks to buy after a massive S&P 500 Index (SPX) pullback. And if past is precedent, CHRW stock could be...Read More
Total mortgage application volume barely moved as interest rates rose. Mortgage applications rose 0.7 percent last week from the previous week, the Mortgage Bankers Association says. Application volume was 5 percent higher than one year ago. Diana Olick| @DianaOlick Published 13 Hours AgoUpdated8 Hours AgoCNBC.com show chapters Mortgage volume barely budges ahead of busy spring season &nb...Read More
Stocks have once again erased early losses, with all major indexes trading higher at midday. Specifically, the Dow Jones Industrial Average (DJI) was up more than 300 points at its intraday peak, with all but four of the Dow's 30 stocks higher at last check. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have also managed toturn higher, as traders eye the latest round of corporate earning...Read More
By Benet KolekaTIRANA, Feb 7 (Reuters) - Albania's central bank held its benchmark interest rate at the record low of 1.25 percent on Wednesday, and its governor promised to pursue a stimulative monetary policy until October.The bank also held rates for one-day deposits at 0.25 percent and one day-lending at 2.25 percent."First, we reconfirm the intensity of monetary stimulus will not diminis...Read More
* Dollar index up as Wall Street trades higher* Euro slips on disappointment over finance minister reports* Greenback up half a percent vs Swiss franc (New throughout; updates market activity; changes byline, dateline, previously LONDON)By Stephanie KellyNEW YORK, Feb 7 (Reuters) - The U.S. dollar rose on Wednesday against most major currencies, even as gains on Wall Street dimmed the greenback's...Read More
(Kitco News)- Equity markets continue torecover from Monday’s flash crash and while volatility is back, it would take amuch bigger correction to boost gold and precious-metals prices on a safe-haventrade, according to one commodity analyst.In a telephone interview withKitco News, Martin Murenbeeld, president of Murenbeeld & Co., said thatwhile the drop in equity markets was shocking -- t...Read More
SAO PAULO, Feb 7 (Reuters) - Latin American equities markets were steady or in the black across the region on Wednesday, as traders showed cautious optimism after an equities rout on Wall Street appeared to putter out.Brazil's benchmark Bovespa index showed little change, down 0.03 percent in afternoon trade, while Chile's benchmark IPSA jumped 0.44 percent. Among major regional equities markets,...Read More
Gold and the gold ETF break key levels as the safety bid reverses.Dollar strength and lifting of the financial market panic are the culprits.The longer-term gold recovery remains intact despite short-term pressures.Almost as quickly as it began, gold's safe-haven bid was reversed on Tuesday as the broad U.S. equity market retraced an earlier decline and closed sharply higher to snap a 6-day losing...Read More
(Updates headline to clarify JV targets growth in platinum group metals mining)MOSCOW, Feb 7 (Reuters) - Russia's Norilsk Nickel , the world's leading palladium producer, said in a statement on Wednesday it is planning a joint venture with Russian Platinum, to expand mining of metals belonging to the platinum group. Nornickel's co-owner, billionaire Vladimir Potanin, was cited by RIA news agency...Read More
Biotech stocks Array Biopharma Inc (NASDAQ:ARRY) and Myriad Genetics, Inc. (NASDAQ:MYGN) received some bullish analyst attention this morning, although only one stock is higher at last check. Below, we'll take a closer look at the brokerage notes, and how ARRY and MYGN stocks are reacting.Analysts Chime In On ARRY's Upbeat Melanoma TrialArray Biopharma stock is up 5% to trade at $17.10, and jus...Read More
The brutal broad-market pullback this month has impacted most stocks, presenting buying opportunities for speculators who believe the long-term rally will resume. Among some of the best stocks to buy after big dips, historically, include cloud concerns Citrix Systems, Inc. (NASDAQ:CTXS) and Salesforce.com, Inc. (NYSE:CRM). Below, we take a look at CTXS and CRM stocks, which could be on sale right...Read More
(Kitco News) - Gold would face somecross-currents from rising inflation expectations, benefitting as an inflationhedge but also facing potential selling as Treasury yields rise, saysMitsubishi in a weekly report on precious metals.Meanwhile, strategist JonathanButler points out that palladium’s premium over platinum is slowlydisappearing.Global equities sold off sharplyat the start of the we...Read More
Shares of resort and casino company Wynn Resorts, Ltd. (NASDAQ:WYNN) are soaring after CEO Steve Wynn stepped down amid recent sexual misconduct claims. Wynn appointed the company's president, Matt Maddox, as his successor, and in response, the casino stock has received a handful of mixed analyst reactions. Specifically, WYNN was upgraded by J.P. Morgan Securities to "overweight" from "neutral,"...Read More
Options traders are cheering well-received earnings from Akamai Technologies, Inc. (NASDAQ:AKAM), with shares of the cloud stock up 7.2% this morning at $68.25. Call buying was extremely popular leading up to the event, evidenced by a 10-day call/put volume ratio of 4.63 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), a reading tha...Read More
Shares of Snap Inc (NYSE:SNAP) have surged 22.5% out of the gate to trade at $17.24, lifting fellow social media stock Twitter (TWTR) along with it. The Snapchat parent reported better-than-expected fiscal third-quarter revenue of $285.7 million, and said its daily active users jumped 18% year-over-year to 187 million -- more than analysts were expecting. The company's adjusted quarterly loss of 1...Read More
Exchange-traded-fund holdings of gold and palladium have fallen,says Commerzbank. Gold prices slid Tuesday as the Dow JonesIndustrial Averagegained nearly 5% from its low to its high. “The price slide was accompanied byhigh outflows from the gold ETFs. Holdings in the gold ETFs tracked byBloomberg were reduced by 7.4 tonnes in all, while the SPDR Gold Trust in theU.S. even lost a good 12 ton...Read More