MO short sellers have been cashing outThe shares of Altria Group Inc (NYSE:MO) aredown 2.4% in electronic trading, after Morgan Stanley downgraded the tobacco name to "underweight" from "equal-weight," while trimming its price target to $45 from $54. The analyst in coverage lowered their earnings growth forecast, and warned that Altria's business algorithm is at risk from changing demographic tr...Read More
What to expect as the rebound rally carries the S&P 500 Index toward overbought status "...the fact that the S&P 500 Index (SPX) took out its 2018 lows gives more credence to a V-rally...After moving above the February 2018 daily closing low of 2,581 on Wednesday, the SPX didn't make much headway. Profit-taking may have slowed the momentum, as the SPX climbed to the 2,586 area, a round 10% above t...Read More
(Adds details on Huawei extradition, graphic, U.S. futures) * European shares follow Asia lower, UBS results disappoint * U.S. futures down after Wall Street was closed on Monday * Brexit plans remain uncertain but UK employment datastrong * IMF downgrades world growth forecasts again * Asian stock markets: By Marc JonesLONDON, Jan 22 (Reuters) - Pessimism about global growthdrove down world share...Read More
* China aluminium smelters losing $145/T -Commerzbank * China zinc production 'very weak' -Deutsche Bank * Stocks slump on IMF growth forecasts, China data (Adds closing prices, detail)By Maytaal AngelLONDON, Jan 22 (Reuters) - Aluminium prices hit theirhighest in nearly a month on Tuesday as investors brushed offweaker economic growth in China to focus on signs of fallingproduction.Trading volume...Read More
* European shares in the red* Platinum recovers from lowest in nearly three weeks * Palladium slips 1.4 pct (Updates prices, adds comment)By Eileen SorengJan 22 (Reuters) - Gold bounced back on Tuesday frommulti-week lows touched in the previous session as mountingconcerns of an economic slowdown exacerbated by a cut in theInternational Monetary Fund's global growth forecast droveinvestors to the...Read More
Shares of Pan American Silver (TSX, NASDAQ:PAAS), the miner that recently acquired precious metal miner Tahoe Resources, (TSX:THO) (NYSE:TAHO) creating one of the world's largest silver producers, fell in pre-market trading after it reported full year production was marginally below guidance.The Canadian miner said it had churned out 24.8 million ounces of silver last year, just shy of the 25-2...Read More
Shares of Pan American Silver (TSX, NASDAQ:PAAS), the miner that recently acquired precious metal miner Tahoe Resources, (TSX:THO) (NYSE:TAHO) creating one of the world's largest silver producers, fell in pre-market trading after it reported full year production was marginally below guidance.The Canadian miner said it had churned out 24.8 million ounces of silver last year, just shy of the 25-2...Read More
Early investors stand to reap the rewards as a new technology looks to change everything.One research firm - which recommended Google and Amazon before they became household names - has built a worldwide reputation of identifying profitable tech trends well before Wall Street and the talking heads on T.V.And just recently, they've uncovered a technology that's already being labeled "humanity's las...Read More
* FTSE 100 down 1 pct; FTSE 250 down 0.4 pct * UBS results weighs on financials * Oil majors, miners among major blue-chip drags * easyJet climbs to outperform main index * Mid-cap IG Group sinks after trading update * Pets at Home posts best day ever (Adds company news items, analyst comment, updates to closingprices)By Shashwat AwasthiJan 22 (Reuters) - Britain's FTSE 100 posted its worst dayin...Read More
Canada's Eldorado Gold (TSX:ELD)(NYSE:EGO) is getting close to opening its first mine in Canada - the Lamaque project in Val d'Or, Quebec, which it grabbed after acquiring Integra Gold in 2017 and is expected to come online during the first quarter of the year.Delivering full year and last quarter of 2018 results, the Vancouver-based company said pre-commercial production from the operation had...Read More
Canada's Eldorado Gold (TSX:ELD)(NYSE:EGO) is getting close to opening its first mine in Canada - the Lamaque project in Val d'Or, Quebec, which it grabbed after acquiring Integra Gold in 2017 and is expected to come online during the first quarter of the year.Delivering full year and last quarter of 2018 results, the Vancouver-based company said pre-commercial production from the operation had...Read More
Canada's Eldorado Gold (TSX:ELD)(NYSE:EGO) is getting close to opening its first mine in Canada - the Lamaque project in Val d'Or, Quebec, which it grabbed after acquiring Integra Gold in 2017 and is expected to come online during the first quarter of the year.Delivering full year and last quarter of 2018 results, the Vancouver-based company said pre-commercial production from the operation had...Read More
World's No.1 miner BHP (ASX:BHP) revealed Tuesday the hefty financial burden caused by three separate incidents that affected its iron ore and copper operations in the October-December 2018 quarter.The Perth-based mining giant said the forced derailment of a fully-laden iron ore train in the Pilbara and unplanned production outages at Olympic Dam and Spence copper mines would cost it $600 million....Read More
In the mid-January short report released by IIROC Monday, it caught our eye how little attention the shorts give to Rai Sahi's TWC Enterprises (Sunny; TWC). A minuscule 0.016% of the gold course operator's share float is shorted. Meanwhile, insider commitment is strong with insiders holding over 70% of the shares outstanding. The bulk of those insider shares are held by Mr. Sahi, who is also the...Read More
Gold is under pressure in Asia, having witnessed range breakdown on Jan. 18. The International Monetary Fund (IMF) trimmed global growth forecasts on Monday. Sino-US trade talks are making little progress on key issues. The S&P 500 futures are reporting losses at press time. Even so, the yellow metal is struggling to find bids. Gold is currently trading at $1,278; down 0.37 percent on the da...Read More
Stocks Analysis by Nicholas Santiago covering: Newmont Mining Corporation, Goldcorp Inc. Read Nicholas Santiago's latest article on Investing.comRead full newsRead More
Spot gold was up 0.3 percent at $1,283.40 an ounce at 12:48 p.m. ET.Dollar stands near 2-week highs.Palladium below record highs touched last week.Published 23 Hours AgoUpdated6 Hours AgoReuters Getty ImagesGold held firm on Tuesday, propped by interest from investors seeking refuge from concerns over slowing global growth, while gains for the metal were limited as the dollar held near a multi-we...Read More
While catalysts are in place for gold to rally in 2019, silver will be the outperforming asset next year, said Todd "Bubba" Horwitz of bubbatrading.com. "I think silver will be up near $18 to $20 [an ounce] and I think silver is going significantly higher too and I expect it, in the next couple of years, to close the ratio between gold and silver. I expect silver to be stronger than gold when it...Read More
Nobody would disagree that the economy is currently in good shape, and nobody would disagree that it's in the best shape it's been in for a long time. But there's one reason it is particularly susceptible to a shock that could trigger a recession. The economy has grown to close to 5% GDP growth this year, but achieving that growth rate has taken the U.S. a very long time during this painful...Read More
Global stocks retreated Monday as investors reacted the weakest growth data from China in nearly thirty years and a downgrade to the world's economic forecast from the IMF. China's National Bureau of Statistics said fourth quarter GDP slowed to 6.4%, taking the full-year advance to 6.4%, down from 6.8% in 2017 and the slowest since 1990. Domestic demand and export growth have both suffered this...Read More