Recent News

Japan Q1 GDP revised down to 1.0 pct annualised expansion

June 07, 2017 / www.kitco.com

TOKYO, June 8 (Reuters) - Japan's economy expanded at an annualised rate of 1.0 percent in the January-March period, revised down from a preliminary estimate of a 2.2 percent growth, Cabinet Office data showed on Thursday.The revised gross domestic product (GDP) data compared with the median forecast of a 2.4 percent expansion in a Reuters poll of economists.The figure translates into a quarter-on...Read More

North Korea Fires What Appeared To Be Land-To-Ship Missiles: South Korea

June 07, 2017 / www.kitco.com

North Korea fired what appeared to be multiple land-to-ship missiles off its east coast on Thursday, South Korea's military said, the latest in a fast-paced series of missile tests defying world pressure and threats of more sanctions.The launches comes less than a week after the United Nations Security Council passed fresh sanctions on the reclusive state, which said it would continued to pursue i...Read More

ECB to keep taps open as economic outlook uncertain

June 07, 2017 / www.kitco.com

* ECB seen leaving policy unchanged* Likely to trim inflation forecasts* Seen dropping reference to downside risks By Balazs Koranyi and Francesco CanepaFRANKFURT, June 8 (Reuters) - The European Central Bank is likely to keep the money taps fully open at its meeting on Thursday as inflation remains below its target despite stronger economic growth in the euro zone.The currency bloc's economy has...Read More

Mexico's Banco de Bajio IPO about 4 times oversubscribed -sources

June 07, 2017 / www.kitco.com

MEXICO CITY, June 7 (Reuters) - Mexican lender Banco del Bajio, due to debut on the local stock exchange on Thursday, will place its shares at the upper end of the planned price range, and demand for the stock is around four times oversubscribed, four market sources said on Wednesday. Banco del Bajio, which is based in the central city of Leon, said last month it hoped to raise around $490 million...Read More

Initial Reaction To Comey Transcript Takes Gold Prices Lower

June 07, 2017 / www.kitco.com

Today, the former director of the FBI, James Comey, released a written transcript of the prepared opening statement he will make tomorrow in his testimony to the Senate Committee on Intelligence. This seven-page document details the former director's contact with President Trump, going over his interactions meeting by meeting, phone call by phone call.His opening statement contains a detailed acco...Read More

Australia shares to open lower; NZ down

June 07, 2017 / www.kitco.com

June 8 (Reuters) - Australian shares are set to open slightly lower on Thursday, as commodities come under pressure from falling oil and gold pricesGold prices fell from near seven-month highs on a stronger dollar, while an unexpected increase in U.S. inventories of crude and gasoline contributed to an existing global glut, pushing down prices.The local share price index futures fell 0.2 percent,...Read More

EMERGING MARKETS-Brazil stocks, currency edge up as labor reform advances

June 07, 2017 / www.kitco.com

(Updates with final prices, details from Mexico)By Bruno FederowskiSAO PAULO, June 7 (Reuters) - Brazil's stock index and currency on Wednesday advanced after a planned reform of labor regulations cleared a hurdle in Congress, but uncertainty over the outcome of an electoral court trial that could oust President Michel Temer limited gains.Temer's proposal to loosen labor laws won approval from the...Read More

CANADA STOCKS-TSX falls as energy shares slump with oil prices

June 07, 2017 / www.kitco.com

(Adds strategist quotes, background details on energy and updates prices)* TSX closes down 92.42 points, or 0.6 percent, at 15,372.14* Eight of the index's 10 main groups end lower* Energy falls to an 11-month low, down 3.4 percent By Fergal SmithTORONTO, June 7 (Reuters) - Canada's main stock index fell on Wednesday as a sharp drop in oil prices put pressure on energy shares, which slumped to a...Read More

SAFT ON WEALTH-Nice portfolio, shame about the human running it: James Saft

June 07, 2017 / www.kitco.com

(James Saft is a Reuters columnist. The opinions expressed are his own)By James SaftJune 7 (Reuters) - The problem with Modern Portfolio Theory, the basis for most diversified investment approaches, is that the often irrational human investor in charge is a major point of failure.In other words, nice theory but shame about the monkey who is running it.Modern Portfolio Theory, originated by Harry...Read More

Osisko Gold boosts Falco shareholdings to 13.3%

June 07, 2017 / www.stockwatch.com

Mr. Vincent Metcalfe reportsEARLY WARNING NEWS RELEASE Osisko Gold Royalties Ltd. has subscribed for and received from Falco Resources Ltd. 3,101,000 units at a price of $1.29 per unit. Each unit comprises one common share in the share capital of Falco and one-half of one common share purchase warrant of Falco. Each warrant entitles the holder to acquire one common share at a purchase price of $1...Read More

Opinion: Four big events that are prompting investors to sell stocks and buy bonds and gold

June 07, 2017 / www.marketwatch.com

Associated Press Four events are sending investors out of stocks and into the safety of gold, bonds and the Japanese yen. How do I know this? I am looking at money flows. The market reaction to Brexit and the Trump election is more than ample proof that investors do not come out ahead just by analyzing events and making predictions based on the prevailing wisdom. As an example, the prevailing wi...Read More

Head Of U.S. Missile Defense Says North Korea Missile Advances A 'Great Concern'

June 07, 2017 / www.kitco.com

The head of the U.S. Missile Defense Agency, Vice Admiral James Syring, said on Wednesday that technological advances demonstrated by North Korea in its ballistic missile program in the past six months had caused him "great concern."Syring told a hearing of the U.S. House Armed Services Committee that it was incumbent on his agency to assume that North Korea today could "range" the United States w...Read More

Boko Haram Launches Major Attack On Northeast Nigerian City

June 07, 2017 / www.kitco.com

Suspected Boko Haram fighters attacked the city of Maiduguri in northeast Nigeria on Wednesday, the Islamist militant group's most serious assault on the regional capital in a year and a half.The raid comes six months President Muhammadu Buhari said Boko Haram had "technically" been defeated by a military campaign that had pushed many jihadists deep into the remote Sambisa forest, near the border...Read More

Peru central bank says fiscal stimulus needed to spur credit demand

June 07, 2017 / www.kitco.com

LIMA, June 7 (Reuters) - Fiscal stimulus from Peru's government would do more to spur a much-needed boost in credit demand than would a cut in interest rates, Julio Velarde, head of the country's central bank said.On the eve of a monetary policy meeting on Thursday, Velarde said he is considering several variables as policymakers look toreverse a deceleration of investment and economic growth."It'...Read More

FOREX-Euro shaky ahead of Thursday's ECB announcement, dollar steadies

June 07, 2017 / www.kitco.com

* Dollar index steady, near 7-month low* Sterling up on eve of UK election* Graphic: FX rates in 2017 (Updates prices, market activity and comments to U.S. afternoon trading)By Saqib Iqbal AhmedNEW YORK, June 7 (Reuters) - The euro weakened against the greenback on Wednesday in choppy trading ahead of Thursday's European Central Bank policy announcement and the UK general election.The common curre...Read More

US STOCKS SNAPSHOT-Wall St gains on Comey relief; energy drops

June 07, 2017 / www.kitco.com

NEW YORK, June 7 (Reuters) - U.S. stocks edged up on Wednesday despite a sharp decline in energy shares after written testimony from former FBI director James Comey did not include any big surprise about an investigation into Russian meddling with last year's U.S. presidential election.Investors were concerned that any additional revelation could dampen already flagging momentum for President Dona...Read More

DIARY - Today in Washington - June 8

June 07, 2017 / www.kitco.com

ALL TIMES IN EDT/GMT -------------------------------------------------0830/1230: The Labor Department issues weekly Jobless Claims.0830/1230: The USDA releases weekly Export Sales.1000/1400: Freddie Mac issues weekly U.S. mortgage rates.1000/1400: The Commerce Department issues Quarterly Services Survey for the first quarter of 2017.1030/1430: EIA issues weekly U.S. underground natural gas stocks....Read More

TREASURIES-Prices slide after written testimony of ex-FBI chief Comey

June 07, 2017 / www.kitco.com

* Comey testimony says Trump asked him to downplay Flynn probe* U.S. 10-year yield hits session highs after Comey remarks* Focus on UK election, ECB meeting (Adds Comey remarks, analyst comment, updates prices)By Gertrude Chavez-DreyfussNEW YORK, June 7 (Reuters) - U.S. Treasury debt prices dropped on Wednesday, after comments from former FBI director James Comey on the bureau's investigation into...Read More

UK PM May's Lead Widens To 12 Points: ICM Poll On Eve Of Election

June 07, 2017 / www.kitco.com

By William Schomberg and Georgina Prodhan | LONDONBritish Prime Minister Theresa May's Conservative Party is on course to win Thursday's national election comfortably, an opinion poll suggested on Wednesday, the first of several last-minute surveys ahead of polling day.Polling firm ICM, which has tended to give the Conservatives bigger leads than most other polling firms, said May's lead increased...Read More

U.S. Stocks, Bond Yields Rise After Comey Statement; Oil Plunges

June 07, 2017 / www.kitco.com

By Hilary Russ | NEW YORKU.S. stocks and Treasury yields rose on Wednesday after the release of written testimony from ex-FBI chief James Comey, with investors looking ahead to his U.S. Senate appearance on Thursday, the same day as a British parliamentary vote and a European Central Bank meeting.A smoothly-executed rescue of Spain's Banco Popular lifted bank stocks in Europe, while oil prices suf...Read More

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