With OPEC agreeing to roll over production for nine more months, our 2017 oil price forecast of US$55/bbl for Brent is largely unaffected. But as fundamentals tighten in the second half of 2017, we believe a firmer oil price will further support the US tight oil industry."Today's decision in Vienna sends a signal of continued support for oil prices from OPEC, which helps US onshore drillers make p...Read More
With OPEC agreeing to roll over production for nine more months, our 2017 oil price forecast of US$55/bbl for Brent is largely unaffected. But as fundamentals tighten in the second half of 2017, we believe a firmer oil price will further support the US tight oil industry."Today's decision in Vienna sends a signal of continued support for oil prices from OPEC, which helps US onshore drillers make p...Read More
Lately I have read dozens of pieces speculating on the timing of a transition of automobiles from human-driven oil based combustion engine-powered to computer-controlled battery-powered machines. We know it will happen and the guesses as to timing are getting closer and closer. What should be obvious is that one of the most important technological advances in history is taking place right under...Read More
Tom Beck, senior editor of Portfolio Wealth Global, says in times of rate hikes, industrial metals rise fastest, and in today's world, the type of metals in highest demand by China are going to rise the most.For close to 35 years, we've seen a tremendous amount of changes in our world: mobile phones, now turning into smartphones, the Internet, which brought entire industries down and birthed new o...Read More
Tanzanian President John Magufuli has fired his mining minister after results of an audit of containers carrying ore published Wednesday showed exports had been understated.Minister Sospeter Muhongo was not the only casualty of the investigation, as the President also show Dominic Rwekaza, chief executive of Tanzania Minerals Audit Agency, the door and asked authorities to investigate those respon...Read More
* STOXX 600 up 0.1 pct* Banco BPM rise on talk of bad loans sale* But Deutsche Bank drops after U.S. request* Fiat falls on emission bill worries* Dixons, Britvic rise after results (Adds details, closing prices)By Kit ReesLONDON, May 24 (Reuters) - European shares, stuck just below 21-month highs for more than a week, struggled to gain momentum on Wednesday, with strength in banks and big o...Read More
By Gul YusufzaiQUETTA, Pakistan, May 24 (Reuters) - Pakistan has arrested a Taliban militant leader authorities describe as the "mastermind" behind three major attacks in Baluchistan, a spokesman for the government of the restive southwestern province said on Wednesday.Militant and separatist violence has long riven Baluchistan, which has rich reserves of natural gas, copper and gold, and is at th...Read More
* STOXX 600 up 0.2 pct* Oil stocks, banks lend support* Fiat falls after U.S. lawsuit* Glencore dips, makes approach to Bunge (Adds quotes and detail, updates prices)By Kit ReesLONDON, May 24 (Reuters) - European shares, stuck just below 21-month highs for more than a week, struggled to gain momentum on Wednesday, with strength in oil producers was offset by weakness in mining and autos stocks...Read More
LONDON, May 24 (Reuters) - European shares, stuck just below 21-month highs for more than a week, fought for direction in early deals on Wednesday as weakness in mining and autos sectors were offset by strength in oil producers.The pan-European STOXX 600 .STOXX index edged up 0.1 percent, underpinned by a rise in European oil & gas stocks .SXEP . Britain's FTSE 100 .FTSE rose 0.1 percent while Ger...Read More
(Adds details, comments, share movement)May 24 (Reuters) - Mining and energy group Vedanta Resources Plc VED.L on Wednesday posted a 36.6 percent rise in its full-year core profit, driven by firmer commodity prices, but failed to meet analyst expectations.The company said earnings before interest, tax, depreciation and amortisation rose to $3.19 billion for the year ended March 31, missing analy...Read More
Investing.com - Gold prices were lower in European trade on Wednesday, as investors looked ahead to minutes of the Federal Reserve's latest policy meeting due later in the global day for further hints on the timing of the next U.S. rate hike.Comex gold futures shed $6.20, or around 0.5%, to $1,249.21 a troy ounce by 3:25AM ET (07:25GMT). Meanwhile, spot gold was at $1,249.52.Prices of the yellow m...Read More
May 24 (Reuters) - Mining and energy group Vedanta Resources Plc VED.L said its full-year core profit surged 36.6 percent, driven by firmer commodity prices.The company said earnings before interest, tax, depreciation and amortisation rose to $3.19 billion for the year ended March 31 from $2.34 billion last year. which produces iron ore, copper, aluminium, zinc and oil, said revenue rose 7.3 per...Read More
COURTESY OF SITE SKILLS TRAINING-CLARK.Mothers will do everything to ensure a bright future for their children.For Ofelia Magastino, in her middle age, she took a job unusual to women in her village in the Philippines where they take care of the personal needs of their children at home and accompany the husband when he is engaged on certain gardening tasks, which women in other villages do not do....Read More
Zijin Mining Group paid Canada's Ivanhoe Mines (TSX:IVN) Tuesday the fifth and final instalment of a $412 million deal that gives the Chinese mining giant a 49.5% stake in the Kamoa-Kakula copper project in D.R. Congo, thought to be Africa's most significant deposit of the red metal ever found.The Kamoa-Kakula project is thought to be Africa's most significant copper deposit ever found.State-ow...Read More
Chile's Codelco, the world's top copper producer, plans to introduce key changes to one of its flagship projects - the much-needed underground expansion of its century-old Chuquicamata mine - as lower metal prices call for higher efficiencies.The modifications, filed last week, aim mostly at simplifying some aspects of the project - originally approved in 2010 - to optimize mineral handling, loc...Read More
* STOXX 600 up 0.2 pct* Nokia jumps after settles dispute with Apple* Upgrade boosts Banco BPM* Spanish banks recover (Recasts, adds quotes and detail, updates prices)By Kit ReesLONDON, May 23 (Reuters) - Nokia shares jumped more than 6 percent on Tuesday to their highest levels in more than a year, joined by a rise in banking stocks which helped European stock markets edge higher.The pan-European...Read More
(Adds dropped word in headline)LONDON, May 23 (Reuters) - Nokia shares jumped more than 6 percent to their highest levels in more than a year and were a standout in an otherwise sluggish open on European stock markets on Tuesday.The pan-European STOXX 600 .STOXX index was little changed in early deals with mining stocks weaker as metals prices slipped. Germany's DAX .GDAXI rose 0.2 percent while e...Read More
Investing.com - Gold prices held near their strongest level in around three weeks in European trade on Tuesday, as investor sentiment skewed toward safe-haven assets after a suspected terrorist attack at a concert in Britain's city of Manchester.Comex gold futures firmed at $1,261.43 a troy ounce by 3:10AM ET (07:10GMT). Meanwhile, spot gold was at $1,261.60. Prices of the yellow metal rose to an...Read More
* Rapid electric vehicle rollout could double copper use* Glencore has low oil exposure, dominant in copper, cobalt* IEA to review oil demand due to India, China EV policy* Glencore copper production to rise to 1.8 mln tonnes/yearBy Barbara LewisZUG, Switzerland, May 22 (Reuters) - OPEC nations that deliver some of the lowest cost production will be relatively insulated from an early peak in oil...Read More
* World FX rates in 2017 http://tmsnrt.rs/2egbfVh* Dollar slips to 6-month low* Oil lifted by expectations of continued supply cut* Defense stocks lift Wall Street on U.S.-Saudi arms deal* Gold, copper, zinc and nickel rise (Recasts with dollar falling; adds oil settlement, updates throughout)By Hilary RussNEW YORK, May 22 (Reuters) - The dollar slipped to a more than six-month low on Monday, weig...Read More