The Caixin manufacturing purchasing managers' index (PM) hit 51.5 points in December, setting a new high in four months and beating the expectation at 50.7 points. It was also higher than November’s 50.8 points.A reading above 50 indicates expansion, while a reading below that signals contraction. The article is edited by SMM and is provided for informa...Read More
SHANGHAI, Jan 2 (SMM)? 1/4 ?Copper: LME copper is set to see a correction following 15 consecutive days of increase and bulls taking profits. While it is expected to trade at $7,180-7,320/mt today, the SHFE 1803 copper is expected to trade at 55,200-56,000 yuan/mt. Trading liquidity in the spot market is set to recover and we see discounts at 220-150 yuan/mt today.Aluminium: LME aluminium set a ne...Read More
The EMR Capital private equity firm run by Owen Hegarty has agreed to buy the Golden Grove copper and zinc mine in Western Australia from MMG for $US210 million ($291m), giving Mr Hegarty control of the mine for a second time. Read moreRead More
Investing.com - Gold prices slid on Friday as investors took profits at the end of a year which saw bullion prices rise around 9%, snapping three years of declines.Gold for February delivery settled down 0.53% at $1,152.00 on the Comex division of the New York Mercantile Exchange. Prices were up around 9.8% for the year.Gold prices soared in the first half of 2016 as the Federal Reserve remained c...Read More
Freeport-McMorRan (NYSE:FCX) has divested another portion of its substantial oil and gas assets as the number one publicly-held copper producer continues on a path of debt reduction.The Phoenix-based company announced today that it completed the previously announced sale of its onshore California properties to Sentinel Peak Resources California LLC for $592 million in cash, before closing adjust...Read More
The US stock markets spectacularly defied the odds in 2016, soaring after both the UK's Brexit vote and US presidential election. Both actual outcomes were universally feared as very bearish for stocks before the events. These contrary stock rallies have left traders feeling euphoric, convinced stock markets are impregnable. But with stock valuations hitting bubble levels in an exceedingly-old bul...Read More
Dec 30 (Reuters) - Canadian stock futures edged higher on Friday, the last trading day of the year, helped by gains in metals prices.March futures on the S&P TSX index SXFc1 were up 0.03 percent at 7:15 a.m. ET.No economic data is scheduled for release. ECONCACanada's main stock index rose to its highest level since April 2015 on Thursday, helped by gold mining stocks. Jones Industrial Average e-m...Read More
Investing.com - Gold prices rose to a three-week high amid low-volume holiday trading on Friday, as the U.S. dollar pulled back, boosting the appeal of the yellow metal.Gold for February delivery on the Comex division of the New York Mercantile Exchange rose to a session peak of $1,164.25 a troy ounce, a level not seen since December 9.It was last at $1,160.50 by 3:41AM ET (9:41GMT), up $2.40, or...Read More
* Pan-European STOXX 600 ends 0.4 pct lower* Precious metals miners up as gold rises* Banking stocks feature among top fallers (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets)By Atul Prakash and Kit ReesLONDON, Dec 29 (Reuters) - Britain's top share index posted its highest-ever closing level on T...Read More
One of Russia's largest mining companies has dropped a stash of roubles on copper concentrate that dates back to the Cold War.Reuters reported on Wednesday that Norilsk Nickel (Nornickel) - one of the world's largest producers of nickel and palladium - purchased 67.5 billion (US$1.1 billion) roubles worth of copper concentrate from Russian state holding company Rostec. The amount of concentrate...Read More
Mickey Fulp the Mercenary Geologist sits down with Maurice Jackson of Proven and Probable to discuss his views on the FED, Interest Rates, the economy, oil, copper, uranium, demonetization, and the merits of precious metals. Mickey shares what indicators he uses to guide the health of the economy and what those indicators are conveying. We shall delve into the value proposition of uranium and why...Read More
LUSAKA, Dec 28 (Reuters) - Zambia is withholding 2.4 billion kwacha ($243 million) of the 5 billion kwacha owed to mining companies in tax refunds because the correct documentation has not been provided, the tax authority said on Wednesday.Zambia's government began paying up to 800 million kwacha a month in Value Added Tax refunds to mining companies in June, aiming to put an end to a long running...Read More
* Aussie and kiwi recover from multi-month lows* Oil, copper, iron ore prices all higher* Euro, yen and sterling inch down* Graphic: World FX rates in 2016 http://tmsnrt.rs/2egbfVhBy Patrick GrahamLONDON, Dec 28 (Reuters) - The Australian and New Zealand dollars both recovered against their U.S. counterpart on Wednesday, helped by a broadly robust tone to stock and commodity markets heading into t...Read More
Dec 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of December 27, 2016. COMPANYINSTRUMENTRATINGAMOUNT MOVEMENT(RS.MLN) ------------------------------ --------- SHORT TERM RATINGS: ------------------- Ala Chemicals Pvt LtdST Bk Fac - Non-FB CARE A3 (SO) 300Reaffirmed- LC/BG* *The above ratings are based on the credit enhanceme...Read More
Investing.com - Gold prices edged slightly higher in abbreviated trade ahead of the holiday weekend on Friday, but the precious metal still posted its seventh straight weekly decline as expectations for higher U.S. interest rates in the months ahead weighed.Gold for February delivery on the Comex division of the New York Mercantile Exchange tacked on $2.90, or 0.26%, to end the week at $1,133.60 a...Read More
(Adds futures, company news items)Dec 23 (Reuters) - Britain's FTSE 100 futures FFIc1 were up 0.1 percent on Friday ahead of the cash market open.European markets are expected to have a quiet session as it is only a half-day on the London Stock Exchange , with the British market shutting at 1230 GMT.* The UK blue chip index ended up 0.3 percent on Thursday in thin pre-Christmas volumes, led by g...Read More
Dec 23 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 0.12 percent lower on Friday, according to financial bookmakers.European markets are expected to have a quiet session as it is only a half-day on the London Stock Exchange, with the British market shutting at 1230 GMT.* The UK blue chip index ended up 0.3 percent on Thursday in thin pre-Christmas volumes, led by gains in the energy...Read More
Aurico Metals (TSX:AMI) has added to its royalty portfolio and flagship B.C. asset through the acquisition of Kiska Metals Corporation (TSXV:KSK).Under terms of the agreement announced today, Kiska shareholders will receive about 0.0667 of an AuRico common share plus CAD$0.016 in cash for each Kiska share held.Through the tie-up, Toronto-based AuRico will obtain two copper-gold porphyry deposi...Read More
A small Canadian miner is confident Donald Trump's U.S. presidential win will let it proceed with an application for a copper and gold mine in Alaska that has been stalled almost three years by environmental regulators aiming to protect the world's biggest sockeye salmon fishery.Ronald Thiessen, chief executive officer and president of Northern Dynasty Minerals Ltd, said he expected the U.S. Envir...Read More