* President Zuma under pressure to resign* ANC officials to decide Zuma's fate on Wednesday* Stocks tumble to a four-month low (Updates rand, bonds, stocks levels)JOHANNESBURG, Feb 6 (Reuters) - South Africa's rand firmed against the dollar on Tuesday as the market positioned for the possible removal from office of President Jacob Zuma, while share prices hit a four-month low as the global stocks...Read More
MILAN, Feb 6 (Reuters) - Initial interest from investors for Italian railway group Italo suggests an IPO valuation below the 1.9 billion euros offered by Global Infrastructure Partners III (GIP), two sources close to the matter said on Tuesday. GIP has presented an offer to buy 100 percent of Italo, which aimed to sell up to 40 percent of its shares in an IPO later this month. The amount offered b...Read More
* Dollar index increases for third straight session* Greenback brushes off worsening U.S. trade gap* Yen, Swiss franc retreat as Wall Street pares early losses (New throughout, updates exchange rates, market activity, comments; new byline, changes dateline, previous LONDON)By Richard LeongNEW YORK, Feb 6 (Reuters) - The dollar rose on Tuesday to its highest level in more than a week against a bask...Read More
HELSINKI, Feb 6 (Reuters) - Finland sold 3 billion euros ($3.7 billion) in an over-subscribed 2034 benchmark bond on Tuesday as it took advantage of investor demand for high-quality assets in a turbulent market.The bond attracted an order book of about 11.4 billion euros from more than 120 investors, the state treasury said.The debt was priced at 22 basis points below the euro swap curve. It has a...Read More
Feb 6 (Reuters) - The growth of purchasing activity in Canada slowed in January as supplier deliveries slipped, while inventories climbed, according to Ivey Purchasing Managers Index data released on Tuesday.The seasonally adjusted index fell to 55.2 from 60.4 in December, short of analysts' expectations for 61.0. A reading above 50 indicates an increase in activity.The gauge of supplier deliverie...Read More
TUNIS, Feb 6 (Reuters) - Tunisia's annual inflation rate rose to 6.9 percent in January, the highest level in 20 years, up from 6.4 percent in December, the statistics office said on Tuesday.The government raised prices for some goods and imposed new taxes on Jan. 1 as part of austerity measures aimed at reducing the budget deficit. The measures triggered violent protests that lasted for several d...Read More
South32's South African coal assets will be spun off within six months, its president and chief operating officer Mike Fraser said.Fraser said that South32, which was spun out from BHP Billiton in 2015, had received a number of offers for the assets which it up for sale in November last year as part of a shift away from coal."After we made the announcement there was significant interest already fr...Read More
Dow name and tech powerhouse Apple Inc. (NASDAQ:AAPL) has pulled back with the broader market in recent days, but Cowen analyst David Seaburg said yesterday that you shouldn't count Apple out just yet, telling CNBC the stock is a "no-brainer." Of course, this comes after the company last week reported fiscal first-quarter earnings. Meanwhile, AAPL shares are bouncing back today, last seen up 2.1%...Read More
Mr. Quinton Hennigh reportsNOVO SECURES TEST PLANT FOR PROCESSING BULK SAMPLES Novo Resources Corp. has entered into a commercial arrangement with SGS Minerals of Perth, Western Australia, to secure access to a test plant for the processing of five-tonne bulk samples from its Karratha gold project. SGS is a leading service provider to the global mining and minerals industry. The company's previous...Read More
TORONTO, Feb 6 (Reuters) - Canada's main stock index fell to a five-month low on Tuesday, pressured by a drop in financial and materials stocks as a selloff in global markets weighed on investor sentiment, while domestic data showed a wider-than-expected trade deficit.At 9:51am EST (1451 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 87.35 points, or 0.57 percent, at 15,24...Read More
Gold demand rallied in the closing months of 2017, gaining 6% year-on-year in Q4 to reach 1,095.8 tonnes (t). However, overall demand for the full year fell by 7% to 4,071.7t, compared with 2016, according to the World Gold Council's latest Gold Demand Trends report.Inflows into exchange-traded funds (ETFs) continued steadily throughout the year, totalling 202.8t, but lagged behind the exceptional...Read More
(Adds details)MEXICO CITY, Feb 6 (Reuters) - Mexico's consumer confidence index dipped to 85.9 in January when adjusted for seasonal factors, falling 3.1 percent from the previous month, the national statistics agency said on Tuesday.Despite the month-on-month drop, consumer confidence was up 23 percent from January 2017, when the inauguration of U.S. President Donald Trump sparked widespread conc...Read More
* Apple surge fuels gains for Nasdaq* Volatility index VIX falls back after hitting highest since 2015* Selloff had knocked more than $1.5 trillion off S&P (Updates to open)By Tanya AgrawalFeb 6 (Reuters) - U.S. stock markets bounced after a torrid opening on Tuesday, bargain-hunters and gains for Apple pushing the tech-heavy Nasdaq and the Dow Jones Industrial Average into positive territory...Read More
Monday's broad-market sell-off sent the CBOE Volatility Index (VIX) up more than 115% -- its biggest one-day gain ever. As such, the VelocityShares Daily Inverse VIX Short-Term ETN (XIV) -- an exchange-traded note issued by Credit Suisse Group AG (NYSE:CS) that mirrors the inverse performance of VIX -- was down 14.3% at 99 when the stock market closed, and plunged more than 80% in after-hours trad...Read More
(Kitco News)- The cryptocurrency marketcontinues to get hammered with selling pressure, with the bitcoin -- the mostpopular digital currency -- falling to fresh multi-month lows as moreregulators call for more oversight.Overnight, Agust?-n Carstens,general manager for the Bank of International Settlements, warned thatcryptocurrencies are becoming a “threat to financial stability.”&ldqu...Read More
(Kitco News) - Goldprices have dropped to modestly weaker levels inlate-morning action Tuesday. The U.S. stock indexes opened the day session downbut have just turned higher on the day. This, along with a rally in the U.S. dollar index today, are working to pressure the gold and silver markets a bit.However, if the stock market selling pressure intensifies today, which isentirely possible, then sa...Read More
TORONTO, Feb 6 (Reuters) - Canada's main stock index fell to a five-month low on Tuesday, as a selloff in global markets weighed on investor sentiment, while domestic data showed a wider-than-expected trade deficit.The Toronto Stock Exchange's S&P/TSX composite index fell 161.22 points, or 1.05 percent, to 15,173.59. (Reporting by Matt Scuffham) Disclaimer: The views expressed in this article...Read More
Feb 6 (Reuters) - The Baltic Exchange's main sea freight index , tracking rates for ships carrying dry bulk commodities, rose for the first time in seven sessions on Tuesday, following a rebound in capesize rates.* The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, edged up 13 points, or 1.2 percent, to 1,095 points.* The capesize index snappe...Read More
Feb 6 (Reuters) - The Dow Jones Industrial Average opened almost another 2 percent lower on Tuesday after two days of heavy losses that have undermined faith in the U.S. stock market's almost decade-long rally.The Dow Jones Industrial Average fell 536.97 points, or 2.21 percent, to 23,808.78. The S&P 500 lost 49.06 points, or 1.85 percent, to 2,599.88 and the tech-heavy Nasdaq Composite droppe...Read More
Even afterwatching markets for 38 years, you always have to ask the question: “what’swrong with this picture.” The equity markets are under extreme pressure and outof nowhere volatility is through the roof. The VIX rallied 100% on Monday andis up 400% from its lows. Interest rates are at 5-year highs and yet gold hasdone nothingFrom the movieTrading Places when the Duke Brothers...Read More