* Financial stocks lead* HDFC AMC surges in market debutAug 6 (Reuters) - Indian shares edged up on Monday to their highest close, driven by financials such as private sector lenders ICICI Bank Ltd ICBK.NS and Axis Bank Ltd AXBK.NS , while positive global cues also helped boost investor sentiment.The benchmark BSE index .BSESN climbed 0.36 percent to a record close of 37,692.46, while the broa...Read More
(Corrects to European Union from euro zone in the first paragraph)By Karen BrettellNEW YORK, Aug 6 (Reuters) - Concerns about Britain's plan to leave the European Union sent the pound to an 11-month low against the greenback on Monday, while U.S.-China trade tensions helped boost the U.S. currency.Comments by officials about a no-deal Brexit stoked fears Britain would crash out of the union withou...Read More
Investing.com - Gold futures were lower in Asian trade on Monday.On the Comex division of the New York Mercantile Exchange, Gold futures for December delivery traded at USD1215.90 a troy ounce at time of writing falling 0.60%.Earlier, it traded at a session low USD1214.80 a troy ounce. Gold was likely to find support at USD1205.10 and resistance at USD1226.00.US Dollar Index Futures, which tracks...Read More
(Bloomberg) -- Justin Trudeau’s attempts to export his “sunny” progressive ways have hit another roadblock, this time with Saudi Arabia. Yet unlike in recent spats with China and India, Canada’s prime minister may get a slight boost at home for his support of women’s rights.Saudi Arabia suspended diplomatic ties and halted new trade dealings late Sunday following comm...Read More
* FTSE 100 up 0.1 pct; oil stocks, weaker pound support* HSBC falls after mixed results* IWG slumps after ending takeover talks; warning sinks Spire* Credit Suisse (SIX:CSGN) downgrades UK equities (Adds detail, updates prices at close)By Danilo MasoniMILAN, Aug 6 (Reuters) - Britain's top share index ticked higher on Monday as energy stocks tracked rising oil prices, while HSBC fell after its e...Read More
Investing.com - Gold prices traded lower on Monday as a stronger dollar continued to weigh on the precious metal, with investors showing a preference for the greenback as a safe-haven asset.At 10:48 AM ET (10:48 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange traded down $4.50, or 0.37%, to $1,218.70 a troy ounce. That was still higher than last F...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 flat; oil stocks, weaker pound provide support* HSBC falls after mixed results* IWG slumps after ending takeover talks; warning sinks Spire* Credit Suisse (SIX:CSGN) downgrades UK equitiesBy Danilo MasoniMILAN, Aug 6 (Reuters) - The UK's top share index was steady on Monday as gains in energy stocks on higher oil...Read More
(Adds details on India operations, metal output, shares)Aug 6 (Reuters) - Miner Vedanta Resources Plc VED.L , set to be taken private by Chairman Anil Agarwal, reported on Monday a 26.3 percent rise in quarterly core earnings on higher aluminium production and commodity prices, and said it was hopeful of restarting its copper smelter in India.The London-listed company, which operates primarily i...Read More
(Refiles for dropped word in paragraph one)Aug 6 (Reuters) - Miner Vedanta Resources Plc VED.L , which is set to be taken private by Chairman Anil Agarwal, reported on Monday a 26.3 percent rise in first-quarter core earnings on higher commodity prices.The London-listed company's earnings before interest, taxes, depreciation and amortization (EBITDA) rose to $983 million, for the three months en...Read More
Miner BHP said on Monday that it had formally requested a period of government mediation with the union at its Escondida copper mine in Chile, the world's largest, just hours before workers threatened to begin a strike.The union had earlier asked the company to negotiate by 10:00 a.m. local time (1400 GMT), but said in a statement later on Monday that it had begun preparing for a strike.BHP had no...Read More
A battle over the world's second-largest copper mine has dogged Freeport-McMoRan Inc. shareholders for more than a year. Now it may be the turn of the copper market.Production at Grasberg in Indonesia will fall by more than half next year as its giant pits transition to underground operations, cutting some 300,000 metric tons of supply from a market many already believe is headed for deficit.The d...Read More
The union at BHP 's Escondida mine in Chile, the world's biggest copper mine, has told the company it should prove its willingness to negotiate by Monday morning if seeks to strike a deal with workers ahead of a pending strike, according to an internal union communication obtained by Reuters.Workers last week voted to reject the company's final wage offer and approved a strike, but either party ca...Read More
Investing.com - Oil traders will continue to focus on a slew of bearish factors affecting the market in the week ahead, including emerging evidence of oversupply and renewed worries over a slowdown in global demand.Crude prices have been on the backfoot recently, with WTI posting its fifth straight weekly loss on Friday, while Brent suffered its fourth week of declines in five, amid reports of fas...Read More
Investing.com - Gold prices look likely to remain vulnerable to the stronger dollar this week, as expectations for additional U.S. interest rate hikes this year underpin demand for the greenback.There aren’t many major events coming up on the economic calendar, but Friday will see an update on consumer prices for July, which will be the week’s most closely watched U.S. data release.Gol...Read More
Investing.com - Escalating trade rhetoric will keep investors on their toes in the week ahead, as they watch further developments in the ongoing trade war between the United States and China.Trade-war fears have been simmering for months, keeping market gains in check with investors jittery over the prospects of further escalation in tensions between the world's two largest economies having an imp...Read More
Gold, base metals downCapital marketsWhether an oversight or a reflection of the political correctness that seems to have infected every aspect of life, it is ironic in the extreme that the one commodity performing strongly in a pe...Read More
Researchers at the National High Magnetic Field Laboratory in Florida have discovered a behavior in materials called cuprates that suggests they carry current in a way entirely different from conventional metals such as copper.Also known as "strange metals," cuprates are high-temperature superconductors that can carry current without any loss of energy at somewhat warmer temperatures than conventi...Read More
Canada's Pan Global Resources (TSXV: PGZ) is ready to start drilling at its 16,333-hectare ??guilas project, located 100 kilometres north of Cordoba in the territory of Andalucia, southern Spain.According to local media, Pan Global's 70-per-cent-owned subsidiary Minera ??guilas has received the necessary permits to start its exploration campaign in the first two sections of the eight-block site. T...Read More
KOCHI, India, Aug 4 (Reuters) - Myanmar could export as much as 20 tonnes of gold in 2019 after the Southeast Asian country earlier this year permitted exports of the precious metal for the first time in five decades, a senior industry official said on Saturday.A pick-up in legal exports will reduce the smuggling of gold to India, China and Thailand, and allow Myanmar to earn revenue from the mini...Read More
(Adds details, background)NEW DELHI, Aug 4 (Reuters) - India said on Saturday that delayed higher tariffs against some goods imported from the United States will go into force on September 18.New Delhi, incensed by Washington's refusal to exempt it from new tariffs, decided in June to raise import tax from August 4 on some U.S. products, including almonds, walnuts and apples, and later delayed the...Read More