By Gary TanashianWe began the Amigos theme last year in order to be guided by the goofy riders during the ending stages of a cyclical, risk-on phase that was not going to end until the proper macro signals come about, no matter how many times the bears declared victory along the way. The fact that grown adults see conspiracies around every corner (okay, I see them around every third corner mysel...Read More
Huge recent imbalances in the gold futures market led many to predict that speculators (usually wrong at big turning points) would be Continue...Read More
McDonald's and 21 other fast-food chains received failing grades for not implementing policies to curb antibiotics.Continue...Read More
Crowds on Demand is an American publicity firm that provides clients with hired actors to pose as fans, paparazzi, security guards, unpaid protesters and professional paid protesters.Continue...Read More
The gold miners’ stockshave been largely ignored and neglected for years. Speculators and investors wanted little to dowith them for various reasons. But thatapathetic sentiment is finally starting to shift thanks to last week’sstock-market plunge. Capital is startingto return to this battered sector as traders begin to realize how radicallyundervalued it is. Se...Read More
BENGALURU/NEW DELHI Oct 20 (Reuters) - HDFC Bank Ltd HDBK.NS has reported record profit for the three months ending Sept. 30 broadly in line with expectations, helped by higher interest and fee income.Net profit rose to 50.05 billion rupees ($682.16 million) for the quarter ended Sept 30, from 41.51 billion rupees a year ago, India's biggest lender by market capitalisation said in a statement.Fi...Read More
Oct 20 (Reuters) -For other diaries, please see:Top Economic EventsM/DIARYEmerging Markets Economic Events EMRG/DIARYGovernment Debt AuctionsD/DIARYPolitical and General NewsPOL/DIARYU.S. Federal ReserveFED/DIARYToday in WashingtonWASH/DIARY ----------------------------------------------------------- This Diary is filed daily. ** Indicates new events -----------------------------------------------...Read More
* Italian 10-year debt yield hits 4.5-year high of 3.783 percent* Euro rallies after falling to 10-day low* World stock index posts fourth straight week of losses* Oil up but posts weekly loss on stock build, trade tensions (Updates after U.S. market close)By Rodrigo CamposNEW YORK, Oct 19 (Reuters) - Stocks dipped on Friday, dragging a global index into a fourth consecutive weekly loss, while the...Read More
RAPAPORT... The US jewelry industry contracted again in the thirdquarter as more businesses left the sector than joined it, according to theJewelers Board of Trade (JBT). The number of recorded jewelry businesses fell 4.7% versusthe same period a year ago to 25,268, continuing the trend of the last fewyears, according to data the credit-information provider released Friday. The closure rate slippe...Read More
RAPAPORT... Carat+ has called off its upcoming fair indefinitely, citingwaning interest in the Antwerp diamond show from exhibitors and visitors, itsaid Friday. "We were looking forward to the third edition of the event,"Carat+ directors Filip Van Laere and Dirk Blommaert said in a joint statementFriday. "However, being confronted with declining commitment of buyers andsellers as exhibitor or...Read More
RAPAPORT... Chinese retailer Laelim Jewelry and Belgian manufacturer IGCGroup will collaborate to test the Gemological Institute of America's (GIA) M2Mtraceability program. Laelim is the first Chinese jeweler to participate in the project, it said last week. The two companies are also the first retailer-manufacturer duo touse the program, which tracks diamonds from mine to market, theGIA note...Read More
RAPAPORT... Sales rose sharply at Hong Kong-based jewelers Chow Tai Fook and Luk Fook in the second fiscal quarter, boosted by strong consumer demand,the lower price of gold and higher tourism rates.Retail sales at Chow Tai Fook jumped 25% year on year inHong Kong and Macau in the three months ending September 30, while same-store sales- at branches open for at least year - surged 23%, the jeweler...Read More
RAPAPORT... The UK will temporarily be unable to import and export roughdiamonds if the nation leaves the European Union without an exit deal, thegovernment has warned. The UK is currently a member of the Kimberley Process (KP) byvirtue of its being in the EU, enabling it to trade internationally in roughdiamonds. However, once so-called Brexit goes into effect on March 29, it will need to join th...Read More
RAPAPORT... Three watchmakers have reportedly statedtheir intention to leave Baselworld following Swatch Group's exit from the Swissshow. Zurich-based Maurice Lacroix will not participate in the 2019 event, a Baselworld spokespersonconfirmed to Rapaport News. Corum and Raymond Weil have also chosennot to attend, citing the high cost of exhibiting and claiming the trade showlacked fresh ideas...Read More
RAPAPORT... Sales rose sharply at Chow Tai Fook and Luk Fook in the second fiscal quarter, boosted by strong consumer demand,the lower price of gold, and tourism.Retail sales at Chow Tai Fook jumped 25% year on year inHong Kong and Macau in the three months ending September 30, while same-store sales- at branches open for at least year - surged 23%, the Hong Kong-based jeweler reportedThursda...Read More
China's ferrous futures ended the morning trading session lower on Friday October 19, with the rebar and coke contracts experiencing the steepest drops.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,093 yuan ($590) per tonne, down 30 yuan per tonneJanuary hot rolled coil: 3,865 yuan per tonne, down 2 yuan per tonneDalian Commodity Exchange January iron ore: 516...Read More
Summary of Rio Tinto's production results for the three months ended September 30 (Rio Tinto share unless otherwise indicated, year-on-year change).Iron ore shipments (100% basis) 81.9 million tonnes, -5% Iron...Read More
China's ferrous futures trended upward during morning trading on Tuesday October 16, recovering from a drop during the Monday night session.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,157 yuan ($601) per tonne, up 31 yuan per tonneJanuary hot rolled coil: 3,975 yuan per tonne, up 49 yuan per tonneDalian Commodity Exchange January iron ore: 510.50 yuan per to...Read More
If Brexit - the departure of the United Kingdom from the European Union on March 29, 2019 - isn't on your radar, it should be. With the annual London Metal Exchange Week now in full swing, the exchange, its members and their customers need to have contingency plans in place if they are expecting to be affected in any way by Brexit. And as with anything political, an element of brinkmanship will na...Read More
When the London Metal Exchange finished its 12-step warehouse reform package, it proved once more that you cannot please all of the people all of the time. It faced some inevitable criticism of the rules, in particular that the LME went too far in certain areas and should consider tweaking or rolling back some of its reforms. In particular, the focus of attention was on the load-in, load-out (LILO...Read More