David LjunggrenVANCOUVER (Reuters) - Foreign ministers from around 20 nations gather on Tuesday to discuss how to curb North Korea’s nuclear ambitions through diplomatic and financial pressure, but China, seen as a key player in any long-term solution, will be absent.The Vancouver meeting, co-hosted by Canada and the United States, comes amid signs that tensions on the peninsula have eased,...Read More
The rebound in the precious metals sector continues. Friday, Gold pushed to another new high, near $1340/oz. Gold stocks led by the HUI Gold Bugs Index and GDX also made a new high with juniors and Silver right behind. The greatest traders say the move comes first and then the reason later. When it comes to Gold we are always analyzing the reason behind the moves so we can distinguish between reac...Read More
PARIS, Jan 15 (Reuters) - The Bank of France said on Monday it already held some currency reserves in yuan, hours after the German central bank said it was looking to move some of its reserves into the Chinese currency."Currency reserves remain in their vast majority invested in U.S. dollar, with a diversification towards a limited number of international currencies such as the Chinese renmin...Read More
LONDON, Jan 15 (Reuters) - The Bank of England probably has "ample time" before it needs to consider raising interest rates again after its first rate hike in more than a decade in November, BoE policymaker Silvana Tenreyro said on Monday.Tenreyro said in a speech that she felt comfortable at last month's rate-setting meeting to keep on monitoring the impact of the 25 basis-point increas...Read More
(Bloomberg) - Copper jumped by the most in two months and zinc hit a fresh decade-high as base metals rallied on a potent combination of a softer dollar, dwindling inventories and continued robust outlook for demand. Palladium rallied to a new record as all precious metals climbed.Copper surged as much as 2.1 percent, the most since Nov. 13, to $7,262 a metric ton on the London Metal Exchange. Al...Read More
BUENOS AIRES, Jan 15 (Reuters) - Argentina will allow short-selling in its capital markets, according to a resolution published by the securities regulator in the country's official gazette on Monday, part of PresidentMauricio Macri's efforts to open the country to investment."Short-selling, in normal market conditions, plays an important role in ensuring financial markets function correctly,...Read More
SAO PAULO, Jan 15 (Reuters) - Brazilian digital bank Intermedium SA has hired banks for an initial public offering that should take place in the second quarter of the year, one source with knowledge of the matter said on Monday.Intermedium, known as Inter, hired the investment banking units of Banco Bradesco SA SA>, Morgan Stanley , Citigroup Inc and Banco do Brasil SA as advisers in the transa...Read More
LAGOS, Jan 15 (Reuters) - Nigeria's central bank said on Monday that it had injected $210 million into the interbank foreign exchange market as part of its attempt to boost liquidity and alleviate dollar shortages.The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses, and $55 million for certain dollar expenses such as school...Read More
(Kitco News) - The U.S. Dollar Index plunged to three-year lows Monday, giving a boost to the precious metals sector, but some analysts warn that the weakness could be short-lived.The Dollar Index was last at 90.43, down 0.52% on the day, marking the weakest level since January 2015, according to Kitco.com.Analysts are keeping a close eye on the possibility of the U.S. government shutdown this wee...Read More
JOHANNESBURG, Jan 15 (Reuters) - Acacia Mining said on Monday said fourth-quarter production fell by a third on the previous year due to a ban on exports of gold and copper concentrates in Tanzania.The London-listed miner said production in the three months to December fell 30 percent to 148,477 ounces compared with a year ago and 22 percent from the previous quarter. This brought 2017 gold to 767...Read More
(Adds data, comments, table)JERUSALEM, Jan 15 (Reuters) - Israel's year-on-year inflation rate rose for the fourth straight month in December, to 0.4 percent, data from the Central Bureau of Statistics showed on Monday.The consumer price index had risen 0.3 percent increase in November. Analysts polled by Reuters had predicted the same rise for December.Inflation for 2017 as a whole was also 0.4 p...Read More
HARARE, Jan 15 (Reuters) - Zimbabwe's consumer price inflation quickened to 3.46 percent year-on-year in December from 2.97 percent in November, data from the national statistics agency showed on Monday.On a month-on-month basis, prices rose by 0.53 percent in December after rising 0.74 percent previously, Zimstats said. (Reporting by MacDonald Dzirutwe; Editing by Alison Williams) Disclaimer: Th...Read More
KHARTOUM, Jan 15 (Reuters) - The Sudanese pound weakened on the black market on Monday amid a foreign currency shortage that has crippled the economy as Khartoum pursues reforms aimed at boosting growth. The pound traded at 34 to the U.S. dollar on Monday, down from about 30 last week, traders said. Sudan devalued its currency to 18 pounds per U.S. dollar from 6.7 previously earlier this month, ho...Read More
JERUSALEM, Jan 15 (Reuters) - Israel's year-on-year inflation rate rose for the fourth straight month in December, data from the Central Bureau of Statistics showed on Monday.The consumer price index showed prices gained 0.4 percent from a year earlier versus a 0.3 percent increase in November. Analysts polled by Reuters had predicted a 0.3 percent rise.Inflation for 2017 as a whole was also 0.4 p...Read More
By Emma Rumney, Ben Martin and Alasdair PalLONDON, Jan 15 (Reuters) - Leading British lenders including Barclays , the Royal Bank of Scotland and Lloyds Banking Group face the prospect of hundreds of millions of pounds in outstanding loans going unpaid from Carillion's collapse on Monday. Along with 10 other banks, they arranged a 790 million pound($1.1 billion) revolving credit facility for Caril...Read More
(Kitco News)- The gold market is taking full advantage of a quietholiday Monday by pushing to key resistance levels as the U.S. Dollar indexdrops to its lowest level in three years.While American equity markets are closed for MartinLuther King Jr. Day, futures continue to trade through electronic platforms.February gold futures were last at $1.341.30 an ounce, up 0.48% on the day, whichis slightly...Read More
LONDON, Jan 15 (Reuters) - The euro briefly extended gains and German benchmark bond yields hit the day's high after European Central Bank rate-setter Ardo Hansson said the central bank could end its bond purchase scheme in one go after September if the economy and inflation develop as expected.Minutes of the ECB's December meeting published on Thursday suggested growing appetite for revising the...Read More
* To raise about 100 mln euros in fresh capital* Owner to sell some shares* Targets free float of 25 pct* To be valued at 1.5-1.75 bln euros after IPO (Adds details on full IPO pipeline expected this year)FRANKFURT, Jan 15 (Reuters) - German drugmaker Dermapharm is preparing for an initial public offering (IPO), probably stealing a march on much larger Siemens' healthcare unit Healthineers as the...Read More
(Adds details on specific stocks, updates prices)* TSX up 47.11 points, or 0.29 percent, at 16,355.29* Eight of the TSX's 10 main groups move higher TORONTO, Jan 15 (Reuters) - Canada's main stock index rose in morning trade on Monday, boosted by a bounce-back in shares of cannabis producers and sharp gains for gold miners as bullion prices hit a four-month high.* At 10:20 a.m. EST (1520 GMT), t...Read More
VIENNA, Jan 15 (Reuters) - Czech-based lottery and gaming group Sazka Group, which is considering a stock market listing in London, has increased its stake in Casinos Austria, it said on Monday.Sazka, owned by Czech investors Karel Komarek's KKCG group and Jiri Smejc's EMMA Capital, got approval from Casinos Austria's shareholders to increase its stake to 34 percent from 11.3 percent after buying...Read More