Gold stocks Articles

Brazil's Petrobras to issue up to 5 bln reais in local bonds -filing

Wednesday July 26, 2017 17:04 / Kitco News

SAO PAULO, July 26 (Reuters) - Brazil's state-controlled oil company Petrleo Brasileiro SA said on Wednesday its board approved the issuance of up to 5 billion reais ($1.59 billion) of a type of local bond, according to a securities filing. Part of the proceeds from the debentures will be used to develop oil areas acquired by Petrobras from the Brazilian government in a so-called transfer of right...Read More

Brazilian judge allows fuel tax hike, overturns suspension

Wednesday July 26, 2017 4:50 PM / Kitco News

BRASILIA, July 26 (Reuters) - A Brazilian court allowed the government to raise taxes on fuels to reduce a budget deficit, the government's lawyer's office said on Wednesday. The increase in the federal PIS/Cofins social contribution tax on gasoline, diesel and ethanol is expected to raise an estimated 10.4 billion reais in additional revenues this year. (Reporting by Silvio Cascione; Editing by D...Read More

CANADA FX DEBT-C$ surges to two-year high as U.S. dollar slides after Fed

Wednesday July 26, 2017 4:48 PM / Kitco News

* Canadian dollar at C$1.2453 or 80.30 U.S. cents* Touches C$1.2415, or 80.55 U.S. cents, strongest since June 2015* Bond prices higher across the maturity curve By Solarina HoTORONTO, July 26 (Reuters) - The Canadian dollar hit its strongest level in more than two years against the greenback on Wednesday after language from the Federal Reserve's policy statement, which was seen as slightly more...Read More

TREASURIES-Prices gain after slightly dovish Fed statement

Wednesday July 26, 2017 4:38 PM / Kitco News

(Updates one-month bill yields, paragraphs 2, 11)* Fed dovish on inflation, hints at balance sheet reduction* Treasury sells $34 bln five-year notes to strong demand* Three-month T-bill yields elevated on debt ceiling concerns By Karen BrettellNEW YORK, July 26 (Reuters) - U.S. Treasury prices gained on Wednesday after the Federal Reserve indicated that it is likely to begin paring its balance sh...Read More

DIARY - Today in Washington - July 27

Wednesday July 26, 2017 4:30 PM / Kitco News

ALL TIMES IN EDT/GMT -------------------------------------------------No set time: The Commerce Dept. issues Building Permit Revisions for June.0830/1230: The Labor Dept. issues weekly Jobless Claims report.0830/1230: The Commerce Dept. issues Durable Goods for June, Advance Economic Indicators for June.0830/1230: The USDA releases weekly Export Sales.1000/1400: Freddie Mac issues weekly U.S. mort...Read More

UPDATE 1-Vertex Pharma's quarterly profit beats estimates

Wednesday July 26, 2017 16:28 / Kitco News

(Adds forecast, estimates and Q2 details)July 26 (Reuters) - Vertex Pharmaceuticals Inc reported a better-than-expected profit for the third straight quarter, helped by improved sales of its cystic fibrosis (CF) drugs.Net profit attributable to Vertex was $18 million, or 7 cents per share, in the second quarter ended June 30, compared with a loss of $64.5 million, or 26 cents per share, a year ea...Read More

FTSE Russell to exclude Snap from stock indexes

Wednesday July 26, 2017 4:22 PM / Kitco News

NEW YORK, July 26 (Reuters) - FTSE Russell CEO Mark Makepeace said on Wednesday the index provider plans to exclude Snap Inc from its widely followed stock indexes because of the Snapchat owner's unusual share structure that denies voting rights to investors. Russell said it plans to require constituents of its indexes to have more than 5 percent of the company's voting rights in the hands of unre...Read More

Peru's La Oroya smelter faces liquidation after failed auctions

Wednesday July 26, 2017 16:13 / Kitco News

By Teresa CespedesLIMA, July 26 (Reuters) - Peru's nearly 100-year-old polymetallic smelter La Oroya failed to draw any offers on Wednesday in the last of six scheduled auctions, delivering a blow to President Pedro Pablo Kuczynski's plans to expand the Andean country's metals refining capacity.Kuczynski had extended the liquidation deadline for La Oroya a year ago and vowed to do his best to revi...Read More

Klondex drills 1.1 m of 198.1 g/t Au at True North

2017-07-26 16:11 / Mr. Brian Morris reports

Mr. Brian Morris reportsKLONDEX ANNOUNCES HIGH GRADE EXPLORATION RESULTS AT TRUE NORTH; INTERCEPTS 5.78 OPT AU OVER 3.7 FT (198.1 G/T OVER 1.1 M)Klondex Mines Ltd.has provided an update on underground drilling at its True North gold mine in Manitoba, Canada. A portion of these drill results are included in the mineral reserve and mineral resource estimates released on May 12, 2017, and March 29, 2...Read More

CANADA STOCKS-TSX ends lower as banks fall after Fed

Wednesday July 26, 2017 4:09 PM / Kitco News

TORONTO, July 26 (Reuters) - Canada's main stock index closed lower on Wednesday, as financial stocks fell in late trade after the Federal Reserve was seen as striking a more dovish tone, while gold miners rallied as the precious metal hit a six-week high.The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 30.98 points, or 0.20 percent, at 15,171.39. (Reporting by Alastai...Read More

Vertex Pharma reports quarterly profit

Wednesday July 26, 2017 4:08 PM / Kitco News

July 26 (Reuters) - Vertex Pharmaceuticals Inc reported a quarterly profit, compared with a year-ago loss, helped by higher sales of its cystic fibrosis (CF) drugs.The company's net profit was $18 million, or 7 cents per share, in the second-quarter ended June 30, compared with a loss of $64.5 million, or 24 cents per share, a year earlier. Excluding items, the company earned 39 cents per share.Th...Read More

US STOCKS SNAPSHOT-Wall St at records after Fed, strong earnings

Wednesday July 26, 2017 4:00 PM / Kitco News

NEW YORK, July 26 (Reuters) - The Dow industrials, S&P 500 and the Nasdaq Composite notched record closing highs on Wednesday after the Federal Reserve kept interest rates unchanged and on strong earnings reports from Boeing and AT&T.The Dow Jones Industrial Average rose 97.58 points, or 0.45 percent, to 21,711.01, the S&P 500 gained 0.7 points, or 0.03 percent, to 2,477.83 and the Nasdaq Composit...Read More

Randgold CEO hopeful on resolution to Mali tax dispute

Wednesday July 26, 2017 3:50 PM / Kitco News

BAMAKO, July 26 (Reuters) - Randgold Resources' chief executive said on Wednesday he was hopeful of resolving an 42 billion CFA Francs ($74 million) tax dispute with Mali's government and that the company continued to invest in its two mines in the West African country.The gold miner has already agreed to pay more than a third of the total fine to help resolve the dispute, which at one point promp...Read More

"Stop Trading Gold Now" - 30 Year Metals Trader

2017-07-26T15:43:05+00:00 / Soren K.Group

Ruminations on Gold by Soren K.Enda Glynn's original headline and analysis is below. Feel free to skip to it if you are looking for technicals. We had to change the headline for fear the post would look like click bait. For we are jaded Gold people. Bitter Gold TradersBut Enda's enthusiasm is genuine. And that pisses us off. As veterans of so many failed formations in Gold we are a bit cynical...Read More

UPDATE 1-ECB could reduce but not stop asset buys from Jan: Nowotny

Wednesday July 26, 2017 3:15 PM / Kitco News

* Asset buys should not end at start of 2018* Inflation still far below target* Growth accelerating, threat of deflation gone* Decision due in the autumn (Adds detail)By Shadia NasrallaLINZ, Austria, July 26 (Reuters) - The European Central Bank could reduce asset purchases from the start of next year but should not completely stop bond buys, Austrian central bank governor Ewald Nowotny said on We...Read More

CANADA FX-C$ touches two-year high as U.S. dollar retreats after Fed

Wednesday July 26, 2017 15:07 / Kitco News

TORONTO, July 26 (Reuters) - The Canadian dollar hit its strongest level in two years against the greenback on Wednesday after language from the U.S. Federal Reserve's policy statement, which was seen as dovish, sent the U.S. dollar lower.The Canadian dollar pushed through an April 2016 support level and touched C$1.2415 to the greenback, or 80.55 U.S. cents, its strongest level since July 2015. (...Read More

Millrock Resources closes Stellar project sale

2017-07-26 15:07 / Mr. Gregory Beischer reports

Mr. Gregory Beischer reportsMILLROCK TAKES EQUITY STAKE IN COVENTRY RESOURCES THROUGH SALE OF STELLAR COPPER-GOLD PROJECT (ALASKA) AND BEGINS DRILL PROGRAMMillrock Resources Inc. has closed the sale of the Stellar copper-gold project to Vista Minerals Pty. Ltd. Upon completion of the deal, as previously announced, Vista successfully merged with Coventry Resources, which owns an option on the adjac...Read More

UPDATE 5-Ford results foreshadow tougher times for Detroit automakers

Wednesday July 26, 2017 3:03 PM / Kitco News

(Adds CFO comments)By Nick Carey and Paul LienertDETROIT, July 26 (Reuters) - Ford Motor Co on Wednesday joined rival General Motors Co in reporting higher-than-expected second-quarter profits, and in the next breath warning of a rougher ride for the rest of the year.Ford said full-year pre-tax profit, automotive operating margins and cash flow would be lower than 2016 results, sending the compan...Read More

UPDATE 2-London daily FX volume rose in April, N America turnover fell -surveys

Wednesday July 26, 2017 3:01 PM / Kitco News

(Adds North American volume, dateline, byline)By Saikat Chatterjee and Gertrude Chavez-DreyfussLONDON/NEW YORK July 26 (Reuters) - Daily foreign exchange trading volume out of London reached $2.44 trillion in April, up 10 percent from the same month last year, thanks to increased turnover in sterling and the euro against the dollar, a semiannual survey by the Bank of England showed on Wednesday.I...Read More

UPDATE 1-Deutsche Bank asset management listing seen in H1 2018 at earliest - sources

Wednesday July 26, 2017 2:48 PM / Kitco News

(Updates with Deutsche Bank comment)By Arno Schuetze and Simon JessopFRANKFURT/LONDON, July 26 (Reuters) - Deutsche Bank's planned listing of its asset management arm is unlikely before the first half of next year and could be later, as it wants more time to refine and sell the business's strategy to potential investors, people close to the matter said. Germany's largest lender announced plans to...Read More