(Adds background, details)By Alana WiseJan 24 (Reuters) - Shares of United Continental Holdings Inc plummeted in Wednesday morning trading, triggering a drop in shares across the sector, after it promised to increase capacity and compete head-to-head with budget carriers, stirring fears of a deepening industry price war.United shares fell 12.65 percent to $68.15 in midday trading as investors rea...Read More
LONDON, Jan 24 (Reuters) - The Presidents Club, a British charity, said on Wednesday it would shut down and hold no further fundraising events after the Financial Times reported female hostesses were groped and harassed at a men-only gala it organised last week."The trustees have decided that the Presidents Club will not host any further fundraising events. Remaining funds will be distributed...Read More
Another strong round of corporate earnings helped lift the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) to record highs this morning. While the latter two have since erased these earlier gains, the Dow is holding higher thanks to a rally in financial stocks -- with Goldman Sachs (GS) and JPMorgan Chase (JPM) some of the best performing blue chips so far. Gol...Read More
* Indexes up: Dow 0.25 pct, S&P flat, Nasdaq off 0.46 pct (Updates to early afternoon)By Sruthi ShankarJan 24 (Reuters) - U.S. stocks pared gains on Wednesday after Commerce Secretary Wilbur Ross called China's 2025 technology strategy a "direct threat" and hinted at action against Beijing, stirring fears of a tit-for-tat trade war. Speaking at the World Economic Forum in Davos, Ross...Read More
• Heavy USD selling remains supportive of the up-move. • Reviving safe-haven demand provides an additional boost. Gold continued gained bullish traction through the mid-European session and rose to its strongest level in more than 4-months. A broadly weaker US Dollar, which extended its downward spiral after the US Treasury Secretary Steven Mnuc...Read More
PARIS, Jan 24 (Reuters) - France's jobless total dipped in December by 2,700 to the lowest level in more than three years, Labour Ministry data showed on Wednesday in further evidence of a job market recovery.The number of people registered as out of work in mainland France fell to 3.451 million, down 0.1 percent over one month and 0.5 percent over one year. The decrease brought the total to its l...Read More
(Bloomberg) - For South African gold miners, it's both the best and worst of times.The metal started the year with a bang, rising 4 percent so far and trading near the highest since August 2016. But an equally impressive rally in the rand means that South Africa-focused producers are likely to miss out on the party.Because mining companies pay most of their expenses in local currency, a stronger...Read More
The numbers: Existing-home sales hit a 5.57 million seasonally adjusted annual rate in December, the National Association of Realtors said Wednesday. The consensus forecast among economists surveyed by MarketWatch was for a 5.73 million annual rate. What happened: Sales of previously owned homes tumbled in December as an ongoing inventory crunch worsened. Existing-home sales were down 3.6% for...Read More
(corrects figure to 'billion', from 'million', paragraph 2)By Loucoumane CoulibalyABIDJAN, Jan 24 (Reuters) - Ivory Coast's mining sector turnover rose by 11.5 percent in 2017, an increase achieved mainly via exports of gold, manganese and nickel, the government spokesman said on Wednesday."The mining sector announced a sales revenue of 539 billion CFA francs($1.02 billion) in 2017, compared...Read More
MILAN, Jan 24 (Reuters) - Italy's Treasury said on Wednesday it would offer 6.5 billion euros in 6-month bills at auction on January 29.6-mth BOT billsAUCTION DATE Jan. 29SETTLEMENT DATEJan. 31MATURITYJuly 31, 2018AMOUNT OFFERED 6.5 blnEXPIRING AMOUNT6.5 bln(Reporting by Milan Newsroom) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Meta...Read More
VANCOUVER, Jan 23 (Reuters) - Small, opportunistic deals will dominate the global gold mining sector again this year, analysts said on Tuesday, after Leagold Mining Corp unveiled a $264 million bid for fellow Canadian gold miner Brio Gold Inc.Six years after the last mining boom ended with billions of dollars in writedowns following over-priced mega-acquisitions, miners remain wary of big purchase...Read More
It's officially earnings season, with a handful of blue chips and big-cap stocks reporting this week. What's more, there are still hundreds of notable companies still on deck to report soon. Against this backdrop, we decided to take a look at some stocks that could make big moves on the charts, if past is prologue -- including Nucor Corporation (NYSE:NUE) and Nvidia Corporation (NASDAQ:NVDA) -- an...Read More
Gold continues to hit new highs for the year. At a good $1350 per troy ounce, the precious metal is trading at its best level since 8th September 2017. This was the day when gold formed its high at $1357 last year, before dropping $120 or 8.8% to $1237 by 12th December 2017. But fast forward a month and a bit, and gold is now threatening to break above last year’s high. Will it be able to do...Read More
MILAN, Jan 24 (Reuters) - A special purpose acquisition company (SPAC) promoted by Italian merchant bank Mediobanca and other investors will be listed on the Milan bourse in early February, two market sources said on Wednesday.The SPAC has already drawn 100 million euros in contributions and aims to use proceeds of its initial public offering to acquire a stake in one or more industrial companies,...Read More
* Bank stocks lead gains for main indexes* Airline stocks down after United Continental's report* Mnuchin's remarks spark declines in dollar* Indexes up: Dow 0.41 pct, S&P 0.26 pct, Nasdaq 0.16 pct (Changes comment, updates prices, adds details)By Sruthi ShankarJan 24 (Reuters) - U.S. stocks rose on Wednesday, driven by gains in bank stocks, while shares in General Electric fell after the comp...Read More
(Bloomberg) - Gold is going digital.Blockchain technology may help keep track of the roughly $200 billion of the precious metal dug from remote mines, traded by middlemen and melted down by recyclers that's sold each year to buyers scattered around the world.The London Bullion Market Association, which oversees the world's biggest spot gold market, will seek proposals including the use of blockch...Read More
By Gertrude Chavez-DreyfussNEW YORK, Jan 24 (Reuters) - U.S. Treasury debt prices slumped on Wednesday, after Treasury Secretary Steven Mnuchin backed a weaker dollar to help boost America's global trade, breaking from the traditional strong currency policy of past administrations.U.S. 30-year bond yields, which move inversely to prices, rose to their highest in more than three months, while those...Read More
Shares of SAGE Therapeutics Inc (NASDAQ:SAGE) gapped 70% higher on Dec. 7, after the biotech reported well-received data for one of its depression drugs. The shares have yet to slow down, topping out at a record high of $183.05 earlier. Though SAGE stock was trading down 0.4% at $179.85 at last check, if history is any guide, the drug name could still be headed deeper into uncharted territory.Spec...Read More
SAO PAULO, Jan 24 (Reuters) - Caixa Econ??mica Federal has unveiled plans to shore up its balance sheet and replace a dozen vice presidents as the Brazilian state bank deals with a string of graft investigations.In a statement late on Tuesday, Caixa said it would meet Basel III capital requirements this year and next by issuing perpetual debt in global markets, selling part of its loan portfolio a...Read More
MILAN, Jan 24 (Reuters) - Kepler Cheuvreux sees the enterprise value of IPO candidate Italo at around 2.15 billion euros ($2.7 billion), a copy of a presentation to investors showed. The broker sees the equity value of the Italian high speed railway group, which is offering up to 40 percent of its shares in an initial public offering expected in February, at around 1.7 billion euros. The company,...Read More