(Refiles to make headline read "Stocks" instead of "Stock")* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* Trade worries weigh on MSCI AC World Index* Yuan steadies after Chinese central bank moves* Copper hits 9-month low* Dollar index unchanged, euro edges lower* European chipmaker stocks hitBy Ritvik CarvalhoLONDON, July 4 (Reuters) - World stocks treaded water on Wednesday amid gro...Read More
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* MSCI AC World Index falls on trade worries* Yuan steadies after Chinese central bank moves* Copper hits 9-month low* Dollar index unchanged, euro edges lower* European chipmaker stocks hitBy Ritvik CarvalhoLONDON, July 4 (Reuters) - World stocks were dragged lower on Wednesday by growing anxiety ahead of Washington's end of week deadline...Read More
(Adds company news items and futures)July 4 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 15 points lower at 7,578 on Wednesday, according to financial bookmakers, with futures FFIc1 down 0.10 percent ahead of the cash market open.* SAINSBURY'S: Sainsbury 's SBRY.L , Britain's second biggest supermarket group which agreed a 7.3 billion pound ($9.7 billion) takeover of rival Asda WMT....Read More
July 4 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 15 points lower at 7,578 on Wednesday, according to financial bookmakers.* BP: BP BP.L and ConocoPhillips (NYSE:COP) COP.N announced on Tuesday a swap deal that will see the British oil giant increase its stake in a major North Sea development while its U.S. peer will grow in Alaska. GLENCORE: U.S. authorities have demanded Glenc...Read More
* Asian shares near 9-month low, Nikkei down 0.7 pct* Falls in U.S. tech shares heighten worries* Yuan bounces back after PBOC's movesBy Hideyuki SanoTOKYO, July 4 (Reuters) - Asian stocks slipped on Wednesday on the spectre of a Sino-U.S. trade war ahead of an end-of-week deadline for U.S. tariffs on $34 billion worth of Chinese imports while the yuan stabilised after China's central bank moved t...Read More
SHANGHAI, Jul 5 (SMM) – Both nonferrous and ferrous metals fell across the board, except for rebar, on Thursday July 5 as the imminent US tariffs on Chinese imports weighed on market sentiment.SHFE zinc led the decreases with a slump over 4%. Copper tumbled close 3% and nickel dropped over 2%. Lead and tin lost close to 2% with aluminium fell close to 1%.Coke, iron ore and cok...Read More
SHANGHAI, Jul 5 (SMM) – Spot copper was mostly offered at a discount of 20 yuan/mt to a premium of 30 yuan/mt over the SHFE 1807 contract in Shanghai on Thursday July 5. This compared with a discount of 60-0 yuan/mt on Wednesday amid falling futures prices. Transactions cooled from Wednesday as the market grew cautious on declining copper prices. Offers from sellers fell as a...Read More
SHANGHAI, Jul 5 (SMM) – Copper: LME copper tumbled further after it broke support at $6,500/mt, touching a low of $6,344/mt as SHFE base metals dipped across the board amid intensified worries over a trade war. The SHFE 1808 contract also slumped all the way after opening, to a low at 49,180 yuan/mt before closing at 49,680 yuan/mt. We expect LME copper to trade at $6,360-6,420/mt, and...Read More
PolarX points to upsideSPONSOREDpolarx ltdChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftFurther de-risking as Danakali debuts on bigger stageSPONSOREDdanakaliKing River's 'overnight' success story stretches back to 1970SPONSOREDking river copperThe ICA's Washington-based director of technology development and transfer, Hal...Read More
The consultancy PWC called 2017 a "remarkable year" in its annual look back at the health of the mining sector.After the forced financial reckoning, mining companies are now profitable with metal prices on the rise. "Thanks in large measure to the continuing recovery in commodity prices, fuelled by general economic growth, revenues rose dramatically by 23 per cent," writes the reports authors of M...Read More
Shares in Canada's Nautilus Minerals (TSX:NUS), one of the world's first seafloor miners, were hit hard on Wednesday after the owner of the shipyard where the company's support vessel is being made said it had cancelled the contract with the supplier chosen by Nautilus to build its ships.Fujian Mawei Shipbuilding's decision came as the supplier chosen by Nautilus to build its ships failed to pay t...Read More
The U.S. corruption and money-laundering probe into Glencore Plc represents the sum of all fears for the world's largest commodity trader and its billionaire chief executive officer, Ivan Glasenberg.The possibility that the Justice Department would add to the dizzying array of regulatory and legal headaches the Swiss company is facing around the globe - from Russia to Africa and South America - ha...Read More
Indonesia has extended a short-term operating permit for Freeport McMoRan's (NYSE:FCX) vast Grasberg copper-gold mine until the end of July, while discussions over granting the government a majority ownership in the operation are finalized.Coal and Minerals Director General Bambang Gatot Ariyono told The Jakarta Post that the extension had been given based on four key issues that still needed fine...Read More
SHANGHAI, Jul 4 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar inched down to close at 94.58 on a stronger euro before the US Independence Day holiday. Base metals mostly went down, however, due to worries over global trade conflicts and weak Chinese manufacturing data released earlier this week. LME zinc le...Read More
By Sudarshan VaradhanCHENNAI, July 3 (Reuters) - Vedanta Ltd VDAN.NS has sought a permanent injunction against the Tamil Nadu (NS:TNNP) state government from interfering with the operations of its copper smelter, according to a petition filed with the country's environmental court.The Indian company, subsidiary of billionaire Anil Agarwal-controlled Vedanta Resources VED.L , also asked the court...Read More
By Ben MartinLONDON, July 3 (Reuters) - Billionaire Anil Agarwal faces investor resistance to his $1 billion bid to buy out minority shareholders in Vedanta Resources VED.L and take the London-listed Indian miner private.Vedanta, chaired by its 64-year-old founder Agarwal, on Monday announced that its independent board directors were prepared to back an 825 pence-a-share bid from Agarwal's famil...Read More
* FTSE 100 up 0.6 pct at close* Glencore drops after U.S. subpoena* IAG rises after price target increase (Adds detail, updates prices at close)By Kit ReesLONDON, July 3 (Reuters) - Britain's top share index climbed on Tuesday following a shaky start to the month, although mining giant Glencore GLEN.L fell after one of its subsidiaries received a U.S. subpoena.The blue-chip FTSE 100 .FTSE index...Read More
Investing.com - Gold prices were higher on Tuesday as the greenback fell and trade tensions lingered.Comex gold futures for August delivery surged 1.12% to $1,255.70 a troy ounce as of 11:01 AM ET (15:01 GMT).Trading is expected to be thin ahead of the U.S. independence day holiday, with the U.S. stock market closing early at 1:00 P.M. ET (17:00 GMT).Gold was bolstered by a weaker U.S. dollar. Gol...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.3 pct* Glencore drops after U.S. subpoena* IAG rises after price target increaseBy Kit ReesLONDON, July 3 (Reuters) - The UK's top share index climbed on Tuesday following a shaky start to the month, although mining giant Glencore GLEN.L fell after one of its subsidiaries received a U.S. subpoena.The blue-chi...Read More