By Miguel GutierrezMEXICO CITY, April 9 (Reuters) - Mexico's central bank isseen keeping its benchmark interest rate steady later this weeksince the pace of inflation has started trending slower, aReuters poll published on Monday shows.Of the 21 analysts surveyed, 18 expected the Banco de Mexicoto hold the rate steady at 7.50 percent, anine-year high touched in the last monetary policy meeting inF...Read More
** Revenue growth reported by U.S. companies for Q1 shouldbenefit from a weaker trade-weighted U.S. dollar ,according to Goldman Sachs analysts ** The dollar in last qtr was 8 pct below its avg in Q1 of2017, they wrote in a note ** "Historically, a weaker U.S. dollar has resulted inabove-average sales beats," they wrote ** Also say, "strong top-line growth is consistent withsolid ec...Read More
** Monsanto shares jump as much as 7.6 pct in heavyvols on WSJ report that U.S. DoJ clears merger with Bayer ; Bayer ADRs also spike higher in volume ** The Justice Department has decided to allow Bayer to buyMonsanto after the companies pledged to sell off additionalassets to secure government antitrust approval, WSJ reports** DoJ declined comment, a Bayer spokesman was notimmediately available f...Read More
MOSCOW (Reuters) - An escalation in U.S. sanctions against Moscow risks derailing a fragile recovery in Russia’s economy, which had just begun to take hold after the Kremlin’s last confrontation with the West in 2014, analysts and investors said on Monday.The United States imposed major new sanctions against Russia on Friday, striking at senior Russian officials and some of the country...Read More
April 9 (Reuters) - German drug and crop chemicals makerBayer's $62.5 billion bid to acquire U.S. seedscompany Monsanto Co has won approval from the U.S.Justice Department, the Wall Street Journal reported on Monday, citing people familiar with the matter.The Department of Justice declined to comment. A spokesmanfor Bayer was not immediately available for comment.Monstanto's shares jumped 7 percen...Read More
VIENNA (Reuters) - Austrian property investor Rene Benko has raised his stake in real estate group S Immo (SIAG.VI) to 29.1 percent of voting rights, just shy of the 30 percent threshold that requires a mandatory takeover offer, S Immo said on Monday.Benko bought a 7.3 percent stake from insurance company VIG (VIGR.VI), S Immo said, without disclosing a purchase price.Benko’s move comes week...Read More
The recent pullback in BIDU shares looks like an opportunity to go longThe recent global trade tensions have weighed on China-based Baidu Inc (NASDAQ:BIDU), with the shares falling from around $270 to their current perch of $226.56 in less than a month. This pullback could be a buying opportunity, however, based on technical data -- and past BIDU performances. Take a look at the chart below.As you...Read More
MILAN, April 9 (Reuters) - Telecom Italia said adecision by statutory auditors to include a vote on boardcandidates proposed by activist fund Elliott in a shareholdermeeting in April was unlawful, adding the company would takelegal action to protect its rights.TIM said auditors can only intervene when the board does notrespond to a shareholder request to amend the agenda, but notwhen the auditors...Read More
WASHINGTON (Reuters) - The U.S. budget deficit will balloon over the next few years mainly because of deep tax cuts approved in December by Republicans in the U.S. Congress and President Donald Trump, the nonpartisan Congressional Budget Office said on Monday.Despite stronger-than-predicted economic growth ahead, the CBO said the deficit will grow to $804 billion in fiscal 2018, which ends on Sept...Read More
WASHINGTON (Reuters) - The U.S. consumer watchdog is seeking a record fine against Wells Fargo & Co for auto insurance and mortgage lending abuses that could exceed several hundred million dollars, according to three sources with knowledge of the plans.The penalty would be the first issued by Mick Mulvaney, who U.S. President Donald Trump tapped in November to head the Consumer Financial Prote...Read More
WASHINGTON/AMMAN (Reuters) - U.S. President Donald Trump on Monday condemned a suspected chemical weapons attack on a rebel-held town in Syria that killed dozens of people and said he would decide on a response probably by the end of the day.Speaking at a Cabinet meeting, Trump said he was talking to military leaders and would decide who was responsible for what he called a “heinous attack&r...Read More
(Kitco News) - Corporate-friendlygovernment policies will lead to an upside surprise in first quarter earningsthat will blow investors away, this according to Shark Tank star, KevinO’Leary.The U.S. earningsseason kicks off this Friday with three major banks, JPMorgan (NYSE: JPM), Citi Group (NYSE: C), and Wells Fargo(NYSE: WFC), on tapto release their corporate numbers. The biggest factor th...Read More
SummaryGovernments of mining countries are vulnerable to investors using double tax agreements (DTAs) as a means of avoiding paying taxes. DTAs are bilateral, or multilateral agreements between countries that set out which country has the right to collect tax on different types of income. Interest expense on foreign loans is one such source of income. The DTA will specify how much tax the source c...Read More
WASHINGTON (Reuters) - The Trump administration is announcing Monday a new effort to speed environmental reviews for major infrastructure projects, a White House official said.U.S. President Donald Trump has made shortening the often lengthy timetable to get approvals for new highways, runways and other projects a key focus of his infrastructure reform plans.A White House official said Trump will...Read More
NEW YORK (Reuters) - Wall Street led global stocks higher on Monday as the beaten down tech sector rallied, also lifting oil prices, while investors kept an eye on a U.S.-China trade spat.Large-cap U.S. tech companies rose 2.6 percent but are still down more than 7 percent from a record high hit four weeks ago.The United States and China have threatened each other with tens of billions of dollars...Read More
Inverse correlation between U.S. equities and gold remains intact.As long as financial market is internally weak, gold should stay strong.Volatility Index (VIX) is a worthwhile reflection of this relationship.Gold prices rose on Friday and U.S. equities sold off on trade-related concerns. Meanwhile the dollar was lower while Treasury prices were higher as safe-haven buying was in evidence. Gold co...Read More
Source: Streetwise Reports 04/09/2018Eric Zaunscherb, an analyst with Canaccord Genuity, reviewed and interpreted this company's recent drill results.In the field.In an April 4 research note, Canaccord Genuity analyst Eric Zaunscherb reported that Marathon Gold Corp. (MOZ:TSX; MGDPF:OTC.MKTS) released the stepout drill results from the Marathon gold deposit and Sprite zone bog area, which "pro...Read More
Facebook CEO Mark Zuckerberg is in Washington, D.C., this weekSocial media giant Facebook, Inc. (NASDAQ:FB) and airline concern Boeing Co (NYSE:BA) both experienced pullbacks over the past few weeks, which sparked interest from options traders. What's more, FB and BA made Schaeffer's Senior Quantitative Analyst Rocky White's list of 20 stocks that saw the heaviest weekly options volume during the...Read More
(Kitco News) - Gold and silver prices were slightly higher in midday trading Monday. The preciousmetals saw modest support from a weaker U.S. dollar index on this day. Buyersof the safe-haven metals were squelched by a solid rally in the U.S. stockmarket today. June Comex gold futures were last up $0.70 an ounce at $1,336.80.May Comex silver was last up $0.078 at $16.344 an ounce.Therewas better i...Read More
OLED stock is testing round-number supportiPhone supplier Universal Display Corporation (NASDAQ;OLED) has had a disastrous start to 2018, due to the broader stock market correction and an earnings miss in February, not to mentionreports last month that Apple Inc. (NASDAQ:AAPL) is developing its own LED screens. Despite OLED stock's struggles, there is some indication that the chip stock may hav...Read More