(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.1 pct* China data, trade worries weigh* Downgrade hits Micro Focus * Indivior jumps after co wins preliminary injunctionBy Kit ReesLONDON, July 16 (Reuters) - The UK's top share index retreated on Monday as a stronger pound weighed while soft China data hit miners amid persistent worries over global trade.Br...Read More
(Bloomberg) -- After U.S. moves on global trade policy that have shredded decades of trust, watch out for deals to be struck before the midterm elections in November, Citigroup Inc (NYSE:C). said, flagging a potential rebound in commodity prices toward the year-end that’s aided by still-robust fundamentals.“U.S. trade actions have been brutal and unilateral and have punctured the t...Read More
(Bloomberg) - South Africa's mining industry is heading for the deadliest year since 2012 after six people died in an underground fire at Palabora Mining Co.'s copper operation.Sunday's accident brings the industry's total to at least 54 and is the second-worst incident this year after seven people died at a Sibanye Gold Ltd. mine when an earth tremor cased a rockfall. The incident will be invest...Read More
Investing.com - The strong dollar looks likely to remain a significant headwind for gold this week, with bearish price action in the precious metal looking set to continue despite growing risk aversion.Metals traders will be looking ahead to Federal Reserve Chairman Jerome Powell’s testimony on the economy and monetary policy to a Senate committee on Tuesday.Powell will likely face questions...Read More
The Chilean government asked both workers and management at BHP's (ASX, NYSE:BHP) Escondida copper mine, the world's largest, to put an end to the labour conflict they have been dragging for months now and that needs to be resolved before a 30-month contract expires on July 24.Speaking to local media, Finance Minister Felipe Larra?-n said an agreement must be reached soon to avoid a strike and, th...Read More
On nights lit by a full moon, thieves leap from trucks onto trains as they roll through Chile's Atacama Desert, before throwing 80-kilo (180-pound) slabs of copper to the ground and disappearing into the dark.It's a tactic known as "the cat" and the robbers are "moles" because no one knows where they come from or where they hide their loot. What's worse for the mines that dot the desert, the robbe...Read More
It's been a decade since the Argentinian government last polled its mining sector but this week some results from a census carried out in 2106 were made public.According to the document the National Institute of Statistics and Census made available online, over 1,500 mining companies were operating in the South American country in 2016. Their extractive activities generated $1,329 million while th...Read More
(Adds Siemens (NS:SIEM), Nova Ljubljanska Banka, Boeing (NYSE:BA) Co, Comcast, AT&T, Lazard Ltd, Eversource Energy, Xerox, French oil and gas major Total )July 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2030 GMT on Friday:** French oil and gas major Total TOTF.PA said that it has completed a $1.5 billion deal to acquire Engie's ENGIE upstream Liq...Read More
* Fears Chinese trade surplus could inflame dispute* Dollar rises, gold falls on trade war concerns* U.S., European stocks steady* Oil drops 4 percent this week (Adds Wall Street open; changes dateline from LONDON; recasts with U.S. dollar, updates throughout)By Hilary RussNEW YORK, July 13 (Reuters) - The safe-haven U.S. dollar touched to a two-week high on Friday after data showed a record Chine...Read More
(Bloomberg) -- The brewing trade war between China and the U.S. is claiming commodity markets as one of its first victims.The Bloomberg Commodities Index, a measure of 26 raw materials, lost 3 percent this week, the most since February. The losses stand out in a week when other risk assets, like emerging-market stocks, were in the green.Soybeans have been hardest hit, with pricing falling to the l...Read More
* Fears Chinese trade surplus could inflame dispute* Oil drops four percent this week* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Tom FinnLONDON, July 13 (Reuters) - World stocks rose for a second consecutive week on Friday as investors prepared for an expected run of strong earnings in the United States, although fears about the U.S.-China trade conflict kept gains in check and pu...Read More
(Adds company news, futures)July 13 (Reuters) - Britain's FTSE 100 .FTSE index is seen to open 41 points higher at 7,693 on Friday, according to financial bookmakers, with futures FFIc1 up 0.50 percent ahead of the cash market open.* EXPERIAN: Experian Plc EXPN.L , the world's biggest credit data company, racked up a 10 percent year-on-year rise in revenue in the first quarter at constant exchange...Read More
July 13 (Reuters) - Britain's FTSE 100 .FTSE index is seen to open 41 points higher at 7,693 on Friday, according to financial bookmakers.* BHP: The union for Chile's Escondida copper mine said Thursday a contract offer presented by the company was unacceptable and threatened to strike unless changes were made. BP PLC: Production at BP Plc's BP.L 413,500 barrel-per-day capacity Whiting, Indiana...Read More
South America-focused Miramont Resources Corp. (CSE: MONT) announced that it has entered into an option agreement to acquire the rights to the Milenos 32 concession adjacent to its Cerro Hermoso project in Peru. With this acquisition, the combined area of the project has increased to 1,318 hectares. Cerro Hermoso is located in the southern Puno region, 60 kilometres from the city of Juliaca and 5...Read More
(Bloomberg) - The brewing trade war between China and the U.S. is claiming commodity markets as one of its first victims.The Bloomberg Commodities Index, a measure of 26 raw materials, lost 2.7 percent this week, the most since February. The losses stand out in a week when other risk assets, like emerging-market stocks, were in the green.Soybeans have been hardest hit, with pricing falling to the...Read More
(Bloomberg) - On nights lit by a full moon, thieves leap from trucks onto trains as they roll through Chile's Atacama Desert, before throwing 80-kilo (180-pound) slabs of copper to the ground and disappearing into the dark.It's a tactic known as "the cat" and the robbers are "moles" because no one knows where they come from or where they hide their loot. What's worse for the mines that dot the de...Read More
Ecuador-focused miner SolGold (LON:SOLG) (TSX:SOLG) said Friday it had intersected copper and gold deposits while drilling at Alpala and Aguinaga prospects its 85%-owned Cascabel copper-gold project, in northern Ecuador.Extension drilling at Alpala Central was expected to extend the high-grade mineralization along the lower and northeast margins of the deposit, located about 180 km north of the...Read More
McKinsey tracked 2.8 per cent per annum increase in productivity between 2014 and 2016 mostly due to mines reducing headcounts and limiting spending, says the consultancy in a study published last month.Data is still pending, but McKinsey believes the productivity trend is continuing.McKinsey measures mine productivity using its MineLens Productivity Index, a measure of physical mining output, emp...Read More
Chile-focused copper miner Antofagasta Plc (LON:ANTO) said Friday it had sold its electricity transmission business Centinela Transmisi??n for $117 million.Proceeds from the sale would enable Antofagasta to focus on its core activity of producing copper.The company said the sale of the unit that holds its electricity transmission lines was consistent with its strategy of disposing of its water and...Read More
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* China shares recover 2 percent, European shares up 0.7 pct* Dollar hits 6 month high vs yen, euro holds ground* Bund-Treasury spread growing, ECB signals careful steps* Oil prices stabilise after biggest fall in over 2 years* Traders on high alert for trade war moves* Wall Street seen opening high, Trump cheers NATO dealBy Marc JonesLONDO...Read More