Investing.com - Gold prices traded lower on Tuesday as traders returned to their desks after the U.S. holiday weekend and trade tensions coupled with market turmoil in Argentina and Turkey underpinned demand for the dollar.At 10:55 AM ET (14:55 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange fell $8.70, or 0.72%, to $1,198.00 a troy ounce.Meanwhil...Read More
* Dollar rise sends euro, yen and emerging market currencies lower* South Africa's rand slumps towards two-year low* Chinese stocks snap five-day losing streak but Europe slips back* Italian bond markets cling to budget optimism* Metals hit by strong dollar but oil climbsBy Marc JonesLONDON, Sept 4 (Reuters) - A rebound in Chinese shares and a rally in Italian bonds failed to keep Europe's spirits...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100, mid caps flat* Miners weigh; WPP slides after H1 results* Oil, financials, weak pound supportiveBy Kit ReesLONDON, Sept 4 (Reuters) - The UK's top shares index came under pressure on Tuesday as a drop among mining stocks and WPP shares weighed, though a weaker pound and boost from big oil kept losses limited.The bl...Read More
EMR snaps up third copper mine, this time in ChileCopper NewsLook beyond market approach to project valuations: van ZylLeadershipDe-risking progress propels Namdini SPONSOREDcardinal resourcesA rising force in the 'Ring of Fire'SPONSOREDasiamet resourcesThe company reached agreement with Guyana Goldfields to buy 103.1 million shares.BHP paid 26.592 pence per SolGold share, representing a 2...Read More
Source: LME, Comex via BloombergBears ripped into mining and metals stocks on the first post-summer trading day in Europe and North America on Tuesday on worries about the robustness of the Chinese economy and the impact of the top commodity importer's widening trade war with the US.Copper touched a low of $2.58 a pound ($5,688 a tonne) on the Comex market in New York, down more than 3% on the day...Read More
MOSCOW, Sept 4 (Reuters) - A company owned by Russian billionaire Alisher Usmanov's holding company said on Tuesday it had started construction of a massive mining and metallurgical plant at the Udokan copper deposit in a remote region in eastern Siberia.With total reserves of around 26.7 million tonnes of copper, Udokan is the largest undeveloped copper deposit in Russia and one of the biggest in...Read More
* U.S. sanctions to target Iran's oil exports from November* OPEC output hit 2018-high in August -survey* U.S. rig count climbs, pointing to more production* U.S. oil drilling, output & storage: https://tmsnrt.rs/2wc5wpr (Updates with U.S. trading activity, updates prices.)By Jessica Resnick-AultNEW YORK, Sept 3 (Reuters) - Oil prices rose on Monday, supported by concerns that falling Iranian...Read More
By Abhirup Roy and Suvashree ChoudhuryMUMBAI, Sept 3 (Reuters) - Indian markets fell sharply on Monday after a set of fund managers raised fresh concerns over an April circular from the market regulator related to tighter rules on foreign funds ownership by entities of Indian origin, which they said could lead to massive dollar outflows from the economy.The Securities and Exchange Board of India (...Read More
* Volcan gets valid acceptance for 92.31 pct of Vedanta's shares* Vedanta's new CEO takes over* Vedanta waits to hear if Indian copper smelter can be reopened (Adds Anglo American deal speculation, details on new CEO, background)By Noor Zainab HussainSept 3 (Reuters) - Vedanta Resources' VED.L Chairman Anil Agarwal will take the London-listed miner private on Oct. 1, his family trust said on Mon...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.8 pct, mid caps up 0.2 pct* Energy stocks, miners rise; pound weak* Dechra Pharma says to implement hard Brexit plan, shares slumpBy Kit ReesLONDON, Sept 3 (Reuters) - The UK's top share index rose on Monday, starting September on a stronger note as a weaker pound and a bounce across commodity stocks helped B...Read More
Gold, base metals downCapital marketsSouth32, the BHP spin-off which declined an opportunity to acquire Nickel West three years ago, must be taking a fresh look at the 50-year-old operation that is rapidly reinventing itself as a s...Read More
Environmentalists interviewed by AFP said they believe Chile's 24,114 glaciers are in danger from mining activity.Climatologist Fabrice Lambert told the news agency that glaciers that are close to mining sites get covered by dust and such particles absorb solar energy in a way that could increase the rate at which the white ice mountains are melting. According to the expert, particularly those in...Read More
Vedanta Resources' Chairman Anil Agarwal will take the London-listed miner private on Oct. 1, his family trust said on Monday, a step seen by some in the industry as a prelude to a potentially broader deal with bigger miner Anglo American.The Volcan Investments trust, which held about two thirds of Vedanta's London-listed arm before it announced a roughly $1 billion buyout offer in July, said hold...Read More
Investing.com - Gold prices look likely to remain under pressure this week with the prospect of higher U.S. interest rates to the front of metal traders’ minds ahead of Friday’s U.S. jobs report.The non-farm payrolls report for August is due out on Friday and is expected to show that the economy added 190,000 jobs while the unemployment rate ticked lower. U.S. financial markets will be...Read More
NEW DELHI, Sept 2 (Reuters) - Indian software services exporter Wipro Ltd WIPR.NS won its biggest-ever contract worth more than $1.5 billion with U.S.-based Alight Solutions LLC for digital services, the company said in a statement on Sunday.Wipro, one of India's top IT firms, said it would earn $1.5-1.6 billion in revenues over the tenure of the deal, which will include services in health, huma...Read More
Investing.com - Oil traders are likely to stay focused on potential disruptions to global crude supplies in the upcoming week, as looming U.S. sanctions on Iran are widely expected to lead to a tighter market.The sanctions, which from November will include Tehran's oil exports, are being reinstated after U.S. President Donald Trump pulled out of the Iran nuclear deal earlier this year.Iran is the...Read More
If you don't work in the field, you probably don't know that once they collect information, geologists have to input data manually into data management software.But some mining companies don't want their experts to do that anymore and developers are hearing them loud and clear.Down Under, students at the University of Western Australia have engaged in a 12-week challenge to come up with a solution...Read More
By Aditya KalraNEW DELHI, Sept 1 (Reuters) - Indian Prime Minister Narendra Modi launched a payments bank on Saturday to turn postmen into bankers so they can offer financial services to the poor in rural areas and boost digital transactions.Modi has since 2014 sought to end what he has called "financial untouchability" by giving millions of people access to banking services in India, wh...Read More
SINGAPORE, Sept 1 (Reuters) - Singapore's trade minister said on Saturday that broad agreement on the world's biggest trade deal should be reached at a summit of leaders from participating nations in the city-state in November, six years since talks began.Called the Regional Comprehensive Economic Partnership (RCEP), the trade accord includes the 10 members of the Association of Southeast Asian Na...Read More
Sept 1 (Reuters) - Tata Motors Ltd TAMO.NS :* Sales in domestic market in August 2018 grew by 27 percent to 58,262 units, compared to 45,906 units over the previous year* August commercial vehicles domestic sales at 39,859 units, up 26 percent* Commercial passenger carrier segment sales at 4,458 units in August 2018, up 9 percent* Sales from exports in August 2018 was at 5,478 units compared to...Read More