Non-profit organization Geoscience BC recently published a series of maps and geological data whose main goal is to encourage mineral exploration in the Regional District of Kootenay Boundary in southern British Columbia.Known as the Greenwood area, the site is well established since the 1880s as one of the most prolific areas for the exploitation of gold, silver, copper, lead, and zinc in the wes...Read More
By Sumeet ChatterjeeNUSA DUA, Indonesia, Oct 13 (Reuters) - The U.S. Federal Reserve does consider the impact of interest rate hikes on emerging markets when setting policy, but the increases are the "right course of domestic policy" for the world's largest economy, said a top Fed official on Saturday.The comments by Fed Vice Chair Randal Quarles came as some emerging markets face increa...Read More
Oct 13 (Reuters) -For other diaries, please see:Top Economic EventsM/DIARYEmerging Markets Economic Events EMRG/DIARYGovernment Debt AuctionsD/DIARYPolitical and General NewsPOL/DIARYU.S. Federal ReserveFED/DIARYToday in WashingtonWASH/DIARY ----------------------------------------------------------- This Diary is filed daily. ** Indicates new events -----------------------------------------------...Read More
(Bloomberg Opinion) -- The meltdown in stocks this week that saw the S&P 500 tumble 5.28 percent over the course of two days sparked an outpouring of views on how rising interest rates are bursting a bubble that drove equity prices to unrealistically high levels. Most of this so-called logic is hyperbole. Market corrections, as opposed to bear markets, happen all the time and this one is still...Read More
MUMBAI, Oct 12 (Reuters) - India's core consumer inflation was seen at 5.8 percent in September, compared with around 6 percent in August, four analysts estimated from the inflation numbers released on Friday.India's retail inflation rate INCPIY=ECI slightly picked up to 3.77 percent in September from August's 3.69 percent, government data showed on Friday, lower than the 4.0 percent that analysts...Read More
By Sumeet ChatterjeeNUSA DUA, Indonesia, Oct 12 (Reuters) - State Bank of India SBI.NS , the country's largest lender, sees its provision for bad loans remaining high for at least the next two quarters, after which it will start softening as it steps up efforts to improve asset quality, its chairman said on Friday.The state-run lender is also seeing a slowdown in "accretion" of new bad loans, Ra...Read More
Investing.com - Here are the top five things you need to know in financial markets on Friday, October 12:1. Big Banks Report EarningsResults from three of the four big banks are expected before the opening bell on Friday. Investors are waiting to see whether bank stocks remain a safe haven after the volatile week in the stock market, as JPMorgan (NYSE:JPM), Wells Fargo (NYSE:WFC) and Citigro...Read More
Investing.com - Gold prices were lower on Friday as the greenback recovered from a two-week low as inflation pressures eased.Comex gold futures for December delivery fell 0.39% to $1,222.80 a troy ounce as of 8:58 AM ET (12:58 GMT), after recording its largest daily percentage gain on Thursday since June 2016 amid a selloff in equities.Cooling inflation data and rate hike expectations lead to a ri...Read More
(Adds company news items and futures)Oct 12 - Britain's FTSE 100 .FTSE index is seen opening 27 points higher at 7,034 with FTSE 100 futures .FFIc1 up 0.51 percent ahead of the cash market open on Friday, according to financial bookmakers.* ASHMORE: Emerging markets-focused fund manager Ashmore ASHM.L said assets under management rose 3 percent in its first quarter, boosted by inflows of client...Read More
Oct 12 - Britain's FTSE 100 .FTSE index is seen opening 27 points higher at 7,034 on Friday, according to financial bookmakers.* ATALAYA MINING: Copper producer Atalaya Mining ATYM.L , AYM.TO , which is backed by Swiss trading giant Trafigura, is looking for a buyer, two banking sources said on Thursday. PATISSERIE VALERIE: The owner of Britain's Patisserie Valerie café chain warned on Thur...Read More
LONDON, Oct 12 (Reuters) - Donald Trump didn't make it to LME Week, the annual jamboree of the global metals trading community.But the U.S. president was the hot topic at the myriad seminars, cocktail parties and private meetings across London this week.The industrial metals traded on the London Metal Exchange (LME) have found themselves at the heart of the escalating trade tensions between the U...Read More
BEIJING, Oct 12 (Reuters) - China's unwrought copper imports surged to their highest in 2-1/2 years in September, while copper concentrate imports climbed an all-time high as the world's top copper consumer's crackdown on scrap leaves it needing other forms of the metal.China's imports of copper, which include anode, refined, alloy and semi-finished copper products, rose 24 percent from August to...Read More
Chile's state miner Codelco, the world's No.1 copper producer, has revealed its smelter at Chuquicamata, its second largest operation by size, will be running at reduced rates until at least the end of the year, as it hurries to complete a planned overhaul ahead of stricter emissions standards coming in effect.Chile's Codelco is in the midst of upgrading its smelter at Chuquicamata, its second la...Read More
* Wall Street dips again, pulling crude futures down* U.S. crude stocks up by 6 mln barrels -EIA* Gulf of Mexico oil output cut by 40 pct on Hurricane Michael (Updates with settlement prices; adds commentary, market activity)By Stephanie KellyNEW YORK, Oct 11 (Reuters) - Oil prices slumped to more than two-week lows on Thursday as global stock markets fell, with investor sentiment made more bearis...Read More
(Updates with details, adds stocks move, quote)By Swati BhatMUMBAI, Oct 11 (Reuters) - The Indian rupee plumbed new lows and stock markets fell deeper into the red for the year on Thursday, rocked by sell-offs across global markets spooked by escalating global trade tensions and warnings of a growth slowdown.The Indian rupee fell to 74.4850 per dollar levels in early trade, off 0.4 percent on day....Read More
* NSE, BSE indexes end about 2.2 pct lower* Sharp sell-off across the globe* HPCL rises over 16 pctOct 11 (Reuters) - Indian shares plunged more than 2 pct on Thursday, at their lowest closing levels since April, mirroring the markets rout across the globe amid rising trade concerns and expectation of rate hikes in the United States.The benchmark BSE index .BSESN closed down 2.19 percent at 34,001...Read More
BENGALURU, Oct 11 (Reuters) - Gold prices inched down on Thursday as robust U.S. data potentially bolstered the chances of multiple U.S. interest rate hikes over the next year.The declines came even as Wall Street suffered its worst drubbing in eight months.FUNDAMENTALS* Spot gold XAU= was down 0.2 percent at $1,192.41 an ounce at 0105 GMT.* U.S. gold futures GCv1 were up 0.2 percent at $1,195.70...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resources The move signals a geographic expansion for the company which has made a name for itself as a first mover in Argentina, when economic reforms opened the country for foreign investment in 2003.Under the first of two accords, Golden Arrow has entered a 48-month earn-in period "with minimal costs" in the first year and total payments of U...Read More
LONDON, Oct 11 (Reuters) - Copper producer Atalaya Mining, which is backed by Swiss trading giant Trafigura, is looking for a buyer, two banking sources said on Thursday.The Cyprus-based miner has hired Canadian investment bank Bank of Montreal to help with the sale, the sources said.Atalaya's main copper asset, the Proyecto Riotinto in the Spanish region of Andalucia, was part of a mine complex b...Read More
(Bloomberg) -- “It’s something that happens every five to seven years” is how JPMorgan Chase & Co (NYSE:JPM). CEO Jamie Dimon once defined a financial crisis to his daughter. Queen Elizabeth II asked “why did nobody notice” the seeds of the last one.Stung by their failure to spot the turmoil of 10 years ago and two decades since Asian markets were roiled, policyma...Read More