* 133,769 clients have direct holdings in suspended fund * Number hits 291,520 when indirect stakes added * Combined value of stake in 3.7 bln stg fund is 1.6 bln(Adds detail from Hargreaves letter, separate letter fromGuernsey stock exchange, Woodford response, updates shares)By Simon Jessop, Muvija M and Carolyn CohnLONDON, June 19 (Reuters) - British investment platformHargreaves Lansdown said...Read More
There's a little bit more uncertainty around the Fed's decision this time than what's normally seenFutures on the Dow Jones Industrial Average (DJI) are pointing to a positive open this morning, trading cautiously above fair value. The trading action likely won't pick up in a major way until after the Fed's policy decision this afternoon, while investors will also be tuning in for the post-meeting...Read More
Options traders need to target stocks making fast, aggressive moves in the right directionHere at Schaeffer's Investment Research, we specialize in options trading. Even though an option contract's value is based off the stock price, a successful stock picker is not certain to be a profitable options trader. The main difference is that options have expiration dates. An options trader, therefore, n...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 19.Please click...Read More
- Dave Kranzler"The latest University of Michigan consumer confidence report noted that its index tracking those who think it's a good time to buy a home has fallen by a hefty eight points in the past two months even as mortgage rates have dropped." - Danielle DiMartino Booth, "The Fed Can't Help Housing Or Autos At This Point"I'm not the only analyst who has concluded that lower rates likely w...Read More
Last week was a strong one for gold, which managed to eke out its fourth straight week of positive gains. The price of the yellow metal broke above $1,350 an ounce last Friday, while gold miners, as measured by the NYSE Arca Gold Miners Index, tested their 52-week high.Investors sought safe haven investments on a number of geopolitical risks, including protests in Hong Kong over the now-delayed...Read More
- Stefan GleasonUncle Sam is going broke. That's not exactly news - at least not to anyone who has been paying attention to the sorry state of federal finances.Yet to most Americans, the ballooning national debt ($22.3 trillion and counting) isn't a problem that impacts their daily lives. They won't directly perceive the cost of another trillion dollars in borrowing in the government's next fi...Read More
By Avi GilburtThe amount of discussion I am seeing on television, as well as in print, regarding what the Fed is going to do just amazes me. Are people this oblivious to the realities around them?I really have a hard time understanding this. So, maybe you good people can help me. The Fed was clearly going to continue raising rates this past winter. No one even questioned that. Well, almost no on...Read More
By: Robert LambourneThe statement of account for May 2019 of the Bank for International Settlements, published this week, indicates that the bank is still trading gold swaps, which the bank uses to gain access to gold held by commercial banks. But the statement indicates that bank's recent activity in the gold market is much reduced from its activity during the second half of 2018.There is not e...Read More
- Stewart Thomson, Graceland Updates 1. It's my firm belief that most Americans are living in a fantasy world where a superhero named President Trump is going to negotiate fabulous "America-first" trade deals with cowering governments around the world... and Americans will then magically relive the 1950s with massive GDP growth, even while QE to infinity becomes as American as apple p...Read More
By: Ira EpsteinGold in an overbought market challenging the high...Read More
Fastmarkets MB will launch a weekly assessment of the South America Galvalume steel coil import price, reported on a US-dollar-per-tonne cfr South America basis.Following the original consultation period for this proposed launch, which ended on May 31 before it was extended by two weeks to June 7, Fastmarkets has decided to launch its Galvalume steel coil import, cfr main ports South America, $ pe...Read More
The United States Secretary of Commerce has joined the growing chorus of voices questioning the current method of setting the US Midwest aluminium premium. Wilbur Ross said the US Midwest aluminium premium is at inflated levels that do not justify the cost of transportation and logistical handling costs that it was originally designed to reflect. His view is being echoed by a number of...Read More
Prices paid for rebar produced and delivered in Southern Europe were unchanged this week amid heavily subdued activity while buyers await an expected influx of imports in July, sources told Fastmarkets on Wednesday June 19.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?495-515 ($555-577) per tonne delivered on Wednesday, unchanged week on week."It's completely ca...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday June 19 that are worth another look.The United States Secretary of Commerce has joined the growing chorus of voices questioning the current method of setting the US Midwest aluminium premium. Chinese nickel premiums jumped to record highs, creating expectations that global premiums will follow them higher while metal is d...Read More
The United States Secretary of Commerce has joined the growing chorus of voices questioning the current method of setting the US Midwest aluminium premium. Wilbur Ross said the US Midwest aluminium premium is at inflated levels that do not justify the cost of transportation and logistical handling costs that it was originally designed to reflect. His view is being echoed by a number of...Read More
A decade ago, the Shanghai Futures Exchange launched its steel rebar futures contract. In the years that followed it has become the gold standard for steel derivatives, achieving a success that other exchanges aspire to emulate. And they are definitely trying, with a total of 11 steel derivatives contracts launched by the main trading exchanges since. SHFE, which launched a wire rod futures contra...Read More
Largo Resources has appointed Paul Vollant as its director of sales and trading, the vanadium producer said on Wednesday June 19.Starting from September 2019, Vollant will lead the development of Largo's sales and trading business, the Toronto-based producer said.Vollant's experience includes the position of general manager of sales and marketing at TNG Limited, Shanghai, where his responsibilitie...Read More
My perspective on the direction of the broader stock markets for the rest of 2019 and 2020 can be summed up as "volatile and unpredictable", a short-term trader's market.The potential news catalysts for the stock market are equally volatile and unpredictable, from Fed rate cut decisions to the twists and turns in the US-China trade dispute.For my money, gold is not only a better but...Read More
The European Commission (EC) imposed definitive safeguard measures on 28 imported steel products in February, replacing the provisional measures that had been in place since July 2018.The EC opened the safeguard case in an attempt to prevent steel shipments being redirected to the EU after the United States imposed import tariffs as part of its Section 232 investigation. Almost one year after the...Read More