* NSE index down 0.01 pct, BSE index flat* Indian rupee touches record low* Materials, energy leadBy Abinaya VijayaraghavanAug 29 (Reuters) - Indian stock indexes were muted on Wednesday, following record-setting gains in the previous two sessions, as losses in IT stocks offset an advance in energy and materials shares.The NSE index .NSEI was down 0.01 percent at 11,737.05, while the benchmark BSE...Read More
MUMBAI, Aug 29 (Reuters) - Indians returned almost the entire amount of currency withdrawn in the government's note ban of November 2016, raising fresh questions over the purpose of a shock move that triggered a sharp slowdown in the economy.In its annual report, the Reserve Bank of India said the total value of notes returned by the public was 15.3 trillion rupees ($216.7 billion) or 99.3 percent...Read More
* U.S. crude stocks fall more than expected - EIA* Iran oil loadings set to drop below 70 mln bbls in Aug - data* Oil buyers already scaling back orders from Iran (Updates prices, adds comment)By Ayenat MersieNEW YORK, Aug 29 (Reuters) - Oil prices rose more than 1 percent on Wednesday, with Brent at its highest in seven weeks and U.S. crude touching a three-week peak, supported by a drawdown in U...Read More
* FTSE 100 down 0.7 pct at close* Sterling rallies after EU's Barnier offers close ties* Shares in oil producers, consumer stocks weigh* Aston Martin plans IPO (Recasts, adds quote and detail, updates prices at close)By Kit ReesLONDON, Aug 29 (Reuters) - The UK's top share index slid on Wednesday, under pressure from a bounce in the pound on the back of remarks from the European Union's chief nego...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.4 pct* Shares in oil producers, miners weigh* Aston Martin plans IPOBy Kit ReesLONDON, Aug 29 (Reuters) - The UK's top share index dipped on Wednesday, weighed down by commodities-related stocks as optimism over progress in global trade relationships has largely fizzled out.The blue chip FTSE 100 .FTSE index...Read More
(Bloomberg Opinion) -- What’s wrong with the dollar? Barely two weeks ago the Bloomberg Dollar Spot Index reached its highest since June 2017. President Donald Trump tied the strength to confidence in the U.S., boasting in a tweet on Aug. 16 that “money is pouring into our cherished DOLLAR like rarely before.” But since then the greenback dropped as much as 2.2 percent, reaching...Read More
Hudbay to take part of Doubleview's HatM&ASolGold set to shineSPONSOREDsolgold"Never say never," EMR's executive chairman Hegarty told the Africa Downunder conference, but "we think copper is the right way" to "play the whole complex".He also noted the PE firm wa...Read More
Orla hits 147.7m at 1.25% copperResource definitionPolarX points to upsideSPONSOREDpolarx ltdChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftBlack Rock polishes MahengeSPONSOREDblack rock miningSince late January 2016, the S&P/ASX 100 resources index, which includes the 11 largest ASX-listed miners, has risen 109%. The index has rec...Read More
China, India, Brazil, Mexico, Russia, Indonesia, and Turkey will be leading the world's mineral demand in the coming decades, Owen Hegarty, Executive Chairman of Australian private equity manager EMR Capital, predicts.Speaking at the Paydirt 2018 Africa Down Under mining conference taking place in Perth, Hegarty said that the new top seven economies will lead the expected doubling of the global ec...Read More
Australia's most densely populated state, Victoria, has just released a Mineral Resources Strategy 2018-2023 in which the government presents its ideas to give the mining sector a boost.According to the document, the provincial administration wants to grow investment and jobs in the mineral sector by spending $220 million on exploration and drilling one million metres by 2023, as well as by making...Read More
Aug 29 (Reuters) - Striking workers at state-owned Codelco's Andina copper mine have rejected their employers' latest contract offer, the company and union said on Wednesday.The 83 workers of the Plantas de Andina union began a strike on Aug. 20 after contract negotiations over salaries and bonuses failed.On Wednesday, the union rejected the company's latest offer, a $15,900 package of bonuses and...Read More
LONDON, Aug 29 (Reuters) - Phoenix Global Mining, which is reopening a U.S. copper mine abandoned during World War II when its workforce left to fight, plans to list in New York in September after a disappointing launch on London's AIM market.The London market is dominated by institutional investors and junior miners trading on the AIM market for smaller companies have often struggled.After the co...Read More
SANTIAGO, Aug 29 (Reuters) - Antofagasta Plc expects its board to approve a $1.3 billion expansion of its Los Pelambres copper mine before the end of the year with construction starting in January, the Chilean miner's chief executive officer said on Wednesday.The London-listed company said in February it had received environmental approval for the three-stage infrastructure upgrade, unveiled in 20...Read More
Canada's largest diversified miner Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK) is looking for a business partner before moving ahead with its Phase 2 at Quebrada Blanca copper mine in northern Chile.The Vancouver-based company, which earlier this month received regulatory approval for a $4.8-billion mine extension, said that before kicking off work, it would have to secure a development part...Read More
* NSE index up 0.31 pct, BSE index up 0.3 pct* Infosys , Tata Consultancy hit record highs* BSE, NSE register new highsBy Abinaya VijayaraghavanAug 28 (Reuters) - Indian stock indexes hit record highs on Tuesday, buoyed by energy and IT shares and positive cues from global markets after the United States and Mexico agreed to overhaul the North American Free Trade Agreement.Infosys INFY.NS and T...Read More
* U.S.-Mexico trade agreement boosts market sentiment* Unite suspends planned strike on Total North Sea oil platforms* OPEC output edges up but remains below target* U.S. crude oil stocks rise 38,000 bbls unexpectedly -API(Adds API data in sixth paragraph)By Stephanie KellyNEW YORK, Aug 28 (Reuters) - Oil prices fell on Tuesday as some investors took profits on recent strong gains, but losses we...Read More
(For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in an Eikon news window)* U.S. and Mexico reach trade deal on Monday* Nasdaq, S&P open at all-time highs* Indexes: Dow up 0.07 pct, S&P flat, Nasdaq up 0.10 pct* Best Buy slides on weak online sales, Q3 profit forecast* Cosmetics firm Coty, chipmaker Xilinx up on broker upgrades (Updates to early afternoon, adds comments)...Read More
* Europe's STOXX 600 hits 2-week high* U.S., Mexico reach NAFTA deal* Autos, basic resources lead gains* Sydbank sinks 11 pct(Updates prices, adds quotes, details)By Kit Rees and Helen ReidLONDON, Aug 28 (Reuters) - European shares hit a two-week high after the United States and Mexico reached a trade agreement, though they gave back gains during the day to end flat, while autos stocks enjoyed a...Read More
Investing.com - Gold prices were lower on Tuesday, despite a weaker dollar, as trade tensions between the U.S. and China lingered.Comex gold futures for December delivery fell 0.16% to $1,214.10 a troy ounce as of 10:33 AM ET (14:33 GMT).The U.S. and Mexico reached a trade deal on Monday that would replace the North American Free Trade Agreement (NAFTA). U.S. Treasury Secretary Steve Mnuchin said...Read More
(Bloomberg) -- The earliest indicators for China’s economy show that the pace of expansion slowed for a fourth month in August, highlighting the pressure for the government to push through pro-growth policies.The data suggest the economy weakened further as demand from trading partners lost steam, with the decline in stock prices reflecting worsening sentiment. That’s according to a Bl...Read More