(Removes Aug. 13 story on esure talks with Bain Capital)Aug 14 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 20 points at 7,662 on Tuesday, according to financial bookmakers, with futures FFIc1 up 0.3 percent ahead of the cash market open.* ROYAL MAIL: Britain's Royal Mail RMG.L has been fined 50 million pounds ($64 million) for discriminating against Whistl, its only major compe...Read More
Fatality at Serabi mine: NMBCapital markets"We have had some really positive surprises out of this process"LeadershipKing River's 'overnight' success story stretches back to 1970SPONSOREDking river copperPolarX points to upsideSPONSOREDpolarx ltdAustralians are annoying gits, as any Englishman will attest. We are crass, opinionated, disrespectful of authority, well-tanne...Read More
Source: BloombergCopper continued to decline on Tuesday to touch its lowest in 13 months after disappointing economic numbers from top consumer China and the possibility of an averted strike at the world's biggest mine conspired to push the price of the orange metal lower.Copper fell 2% to $2.6770 a pound or $5,902 a tonne on the Comex market in New York bringing its losses over just two months of...Read More
LONDON, Aug 14 (Reuters) - Chilean copper producer Antofagasta said first-half core earnings fell 16.2 percent from a year earlier, citing weaker ore quality, and said trade tensions clouded the broader market outlook in the short term.Its share price was down by 5.4 percent by 0913 GMT, while the broader sector was 0.8 percent lower.Antofagasta maintained full-year guidance for its own output of...Read More
The giant rocky outcrop known by locals as La Cobaltera offers a glimpse into northern Chile's mining past, and a hint of its future.Slag from an ancient furnace is piled at the entrance of a mine shaft that hasn't seen commercial activity since World War II. Inside, eucalyptus posts still support narrow tunnels, placed there by German engineers as a kind of alarm system: when they creaked it was...Read More
NEW DELHI, Aug 13 (Reuters) - India's retail inflation rate eased to 4.17 percent in July after touching a five-month high of 5.0 percent in the previous month, government data showed on Monday, helped by smaller increases in food prices.Analysts polled by Reuters had forecast July's annual increase in the consumer price index INCPI=ECI at 4.51 percent, compared with June's 5.00 percent.Read More
* Indian rupee touches record low of 69.62/dlr on Turkey contagion* India cenbank likely intervened to curb INR fall - dealers* Rupee unlikely to breach 69.80/dlr during the day - dealer (Add details, quotes, cenbank intervention)By Suvashree ChoudhuryMUMBAI, Aug 13 (Reuters) - The Indian rupee INR=D2 on Monday touched an all-time low of 69.62 per dollar in early trade, tracking broader weakness i...Read More
MUMBAI, Aug 13 (Reuters) - India's core annual consumer price inflation was seen around 6.2 percent in July, easing slightly from 6.3 percent in the previous month, according to two analysts.India's retail inflation rate eased to 4.17 percent in July after touching a five-month high of 5.0 percent in the previous month, government data showed on Monday, helped by smaller increases in food prices....Read More
Investing.com - Gold prices were lower on Monday, as economic turmoil in Turkey left markets uncertain about direction.Comex gold futures for August delivery fell 1.21% to $1,204.40 a troy ounce as of 10:46 AM ET (14:46 GMT).Tensions between the U.S. and Turkey continued on Monday, with Turkey’s central bank pledging to provide liquidity and cut reserve requirements for Turkish banks.The cen...Read More
* World stocks down half a percent to one-month low* Turkish Lira down 7 pct, Turkey CDS highest since 2008* Worries grow on euro zone bank exposure to Turkey* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Abhinav RamnarayanLONDON, Aug 13 (Reuters) - World markets shuddered on Monday, as Turkey's worsening currency crisis persuaded investors to dump equities and emerging markets and f...Read More
Investing.com - Gold prices traded lower on Monday, with spot prices hitting a 17-month low, as concerns over the crisis in Turkey sent investors flocking to the dollar, dampening demand for the precious metal.At 4:19 AM ET (8:19 GMT), spot gold fell $6.60, or 0.54%, to $1,204.81, just off an intraday low of $1,203.83, its lowest level since March 2017.Meanwhile, gold futures for December delivery...Read More
Orla hits 147.7m at 1.25% copperResource definitionSolGold set to shineSPONSOREDsolgoldFollowing a similar report on gold in May, S&P's research found that copper exploration expenditure over the past decade was US$26.6 billion - peaking in 2012 at a record $4.7 billion....Read More
In line with the company's policy, the dividend was equal to 35% of net earnings from continuing operations, which slipped 33.3% on the year to 19.6c/share.Analysts at Bernstein noted e...Read More
Aug 13 (Reuters) - The main union at Chile's Caserones copper mine said on Monday that both sides had agreed to extend government mediation of labor talks until Thursday.The agreement means a strike approved by 98.5 percent of workers in a vote on Sunday will be postponed, said Jos?(C) Zambra, a spokesman for the union at Caserones. The mine is majority owned by Pan Pacific Copper Co Ltd, a partne...Read More
Courtesy of: Visual Capitalist Canada is a mining nation.From the Rockies to the Canadian Shield, and from the Plains and to the North, the variety of geology that exists in the country is immense - and this has created a large and unique opportunity for ground-breaking mineral discoveries.As a result, Canada is one of the world's largest exporters of minerals and metals, supplying approximately...Read More
What causes empires to fall?According to one influential view, it's ultimately a question of investment. Great powers are the nations that best harness their economic potential to build up military strength. When they become over-extended, the splurge of spending to sustain a strategic edge leaves more productive parts of the economy starved of capital, leading to inevitable decline.That shoul...Read More
Aug 13 (Reuters) - Chile's copper industry on Monday braced for the announcement of a potential strike at the world's biggest copper mine, Escondida, as government-led mediation is expected to close by day's end.Escondida's union and the mine's owner, Anglo-Australian firm BHP, have until Monday evening to agree to a contract deal in tense negotiations that have been closely watched by other miner...Read More
Investing.com - Investors will stay focused on Turkey's deepening currency crisis and the fallout across global markets in week ahead to see if any more news materializes after Washington's latest sanctions on Ankara battered the lira and triggered a move out of riskier assets.In addition, market focus will stay attuned to the next potential steps in the tit-for-tat trade dispute between the U.S....Read More
Investing.com - Oil traders will stay focused on a plethora of bearish factors currently weighing on the market in the week ahead, after U.S. crude prices suffered their sixth straight weekly loss last week - their worst losing streak since August 2015.Brent, meanwhile suffered its fifth week of declines in six, as investors worried that global trade disputes, most notably between the U.S. and Chi...Read More
MUMBAI, Aug 12 (Reuters) - Indian Prime Minister Narendra Modi said he would be re-elected with an even bigger majority in parliament in 2019, dismissing opposition attempts to rouse opinion against his government for failing to deliver on promises of swift economic development and more jobs for young people.Modi told the Times of India in an interview published on Sunday that his Bharatiya Janata...Read More