(Adds company news items and futures)July 26 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 6 points higher at 7,664 on Thursday, according to financial bookmakers, with futures FFIc1 up 0.21 percent ahead of the cash market open.* SKY: Sky SKYB.L , the pay-TV group at the centre of a bidding war between Rupert Murdoch's Fox and Comcast, reported a 9 percent rise in full-year core earn...Read More
July 26 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 6 points higher at 7,664 on Thursday, according to financial bookmakers.* GSK: A U.S. Food and Drug Administration expert panel on Wednesday did not support approval of GlaxoSmithKline Plc's GSK.L drug Nucala in treating a disease that limits airflow to the lungs. ANGLO AMERICAN: Peru's President Martin Vizcarra will announce the s...Read More
(Bloomberg) -- For many of the world’s richest people, losing $16.8 billion in a day would be a wipeout.For Mark Zuckerberg, it’s just about a fifth of his net worth.The Facebook Inc (NASDAQ:FB). co-founder, chairman and chief executive officer is set to see his wealth slide to sixth place from third on the Bloomberg Billionaires Index after the company’s shares lost of 20 pe...Read More
Teck Resources Ltd boosted its production forecasts for copper, zinc and oil on Thursday as the diversified miner reported market-beating profits on the back of higher prices for a range of commodities.Flush with C$2.9 billion ($2.22 billion) in cash and C$7 billion in liquidity, Teck is in "great shape" to fund growth, said Chief Executive Don Lindsay, including big Chilean developments like the...Read More
The president of Peru's National Society of Mining, Petroleum, and Energy, Pablo de la Flor, issued a statement today saying that Anglo American (LON:AAL) and Mitsubishi's joint venture to develop the Quelleveco project marks a new era for the country's mining industry.According to de la Flor, the project located in the southern Moquegua region will create 9,000 jobs during its construction phase...Read More
(Bloomberg) - Anglo American Plc's chief executive officer was being a little cryptic with investors on Thursday, but the message was clear: the company might have found an exciting copper deposit in Brazil.CEO Mark Cutifani briefly flagged a 19,000-square kilometer piece of land (an area about the size of Israel) that the miner has pegged in Brazil, where it's looking for copper. When pushed by a...Read More
Newmont Mining acquired a 50 per cent interest in the Galore Creek Partnership from NOVAGOLD Resources for $275 million.Teck Resources owns the remaining stake.The agreement encompasses several staged payments. There will a contingent investment of $275 million, with an initial payment of $100 million; a payment of $75 million on the earlier of prefeasibility study completion or three years from c...Read More
TORONTO, July 26 (Reuters) - Lundin Mining Corp launched a hostile C$1.4 billion ($1.1 billion) takeover bid for fellow Canadian base metals miner Nevsun Resources Ltd on Thursday, saying it had failed to convince Nevsun's board to agree to a friendly deal over the past nine months.Cash-rich Lundin, looking to grow its production, has made five proposals to acquire Nevsun's large, high-grade Timok...Read More
An end to an eight-week long strike at the Mount Polley copper mine may be in sight, following a tentative agreement reached between the union and Imperial Metals (TSX:III).Roughly 200 members of the United Steelworkers (USW) union have been on strike since May. A collective agreement expired on December 31, 2017.After reaching an "impasse" in renegotiation the contract, Imperial Metals locked wor...Read More
Unlike the other two gold majors Newmont had a quarter to trumpet with a second quarter coming in at $144 million or 26 cents per diluted share.Newmont Mining (NYSE:NEM) was up 2.14% to $38.27 per share. Analysts expected 24 cents a share.Yesterday Barrick reported a net loss of US$94 million or 8 cents per share in its 2Q, and Goldcorp also reported a net loss of $131 million or 15 cents per sha...Read More
(Bloomberg) -- The Beijing “put” is back.China’s bid to boost policy stimulus to barricade its domestic economy from the brewing trade war is breathing life into risk assets battered by liquidity and geopolitical angst.Among the winners: Asian junk bonds, the besieged industrial-metals complex and emerging-market stocks.Bulls can thank the State Council meeting this week that out...Read More
* FTSE 100 down 0.7 pct* Miners cool after strong previous session* ITV rises after decent update, but Informa slides* Indivior plunges on warning of bigger hit from copycat drug (Adds closing prices)By Kit ReesLONDON, July 25 (Reuters) - The UK's top share index fell on Wednesday as mining stocks lost ground, with earnings in focus as ITV and Informa issued updates.The blue-chip FTSE 100 .FTS...Read More
Investing.com - Gold prices trader higher for a second-consecutive session on Wednesday, as a weak dollar continued to support the precious metal and investors looked ahead to trade talks between the U.S. and the European Union.At 11:11 AM ET (15:11 GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained $3.60, or 0.29%, to $1,229.10 a troy ounce, pu...Read More
* European stocks halt three-day worldwide equities rally* Markets focussed on Trump-Juncker trade meeting* Commodities bolstered by prospect of increased China demand* China yuan, Turkish lira steady in FX markets* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, July 25 (Reuters) - A three-day worldwide stocks rally was threatening to stall on Wednesday, as investors...Read More
Although precious metals have not rebounded too strongly yet, the long awaited summer rally could be underway (at least in Gold). Gold is oversold and its sentiment is overly bearish. But it is holding important support in the low $1200s. Silver has begun to rally after breaking down from a triangle consolidation. The gold stocks held up well during recent carnage in the metals but are struggling...Read More
July 25 (Reuters) - Canada's Lundin Mining Corp said Chief Executive Officer Paul Conibear is retiring and also reported a 3 percent rise in second-quarter profit on Wednesday.The base metal producer said Chief Financial Officer Marie Inkster will take up the role of CEO.The company's net income rose to $87.5 million, or 11 cents per share, in the quarter ended June 30, from $85 million, or 10 cen...Read More
Barrick reported a net loss of US$94 million or 8 cents per share, and adjusted net earnings of $81 million or seven cents per share for the second quarter of 2018.Barrick (NYSE:ABX) traded down -1.18% to US$11.68 as of 5:42 p.m. EDT.Barrick said earnings and cash flow impacted by planned maintenance activities at Barrick Nevada and Pueblo Viejo. The company says it remains on track to meet full-...Read More
WILLIAMS LAKE, BC, July 25, 2018 /CNW/ - Some 200 members of the United Steelworkers (USW) at Mount Polley mine near Williams Lake, B.C., are set to vote on a tentative agreement next week, following an eight-week strike in response to a company lockout and attempts to extract concessions."Our members have stood strong and stood together in their desire to see a fair agreement," says USW Staff Rep...Read More
TORONTO, July 25 (Reuters) - Freeport-McMoRan Inc, the world's biggest publicly listed copper miner, reported bigger-than-expected earnings on Wednesday, as production and prices soared above last year, but flagged market jitters from global trade disputes.Uncertainty around the economic impact of a U.S.-China trade war has pushed copper prices lower in recent weeks, but Phoenix-based Freeport has...Read More
Unionized workers at Chile's Escondida copper mine, the world's largest, are discussing the final wage offer presented Wednesday by majority owner and operator BHP (ASX, NYSE:BHP) (LON:BLT), which looks shy of what employees wanted.The company has offer workers a signing on bonus of $27,000, up from an earlier offer of $23,000, plus a 1.5% salary increase, but still well under the bonus up to $4...Read More