Nov 30 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening about 2 points lower, or almost flat in percentage terms on Wednesday, according to financial bookmakers.* The UK blue chip index closed down 0.4 percent on Tuesday at 6,772, underperforming other European markets as energy and mining stocks were hit by weaker oil and metals prices. BP: Mexico hopes to award at least four of the 10...Read More
After hitting an 18-month high on an intraday basis on Monday, the copper price has come under pressure as the bullishness about the impact of Trump's $500 billion infrastructure plans on demand for the bellwether metal begins to cool.In Asian trade on Wednesday copper for delivery in March, the most active contract, exchanged hands for $2.5570 per pound ($5,637 a tonne) on the Comex market in New...Read More
The Australian Stock Exchange has shut the door on one of its most controversy-plagued companies, Moly Mines, after ruling the firm was not allowed to resume trading due to concerns about Chinese majority shareholder Hanlong Group.The rarely used move, which effectively blocks Hanlong and leaves roughly 4,000 Moly shareholders in limbo, comes despite Moly promising it would have the Chinese firm's...Read More
* Taliban behind much of the violence over the last 15 years* Fight targets foreign forces, not Afghans, militants say* Taliban directs fighters to aid in security of projects (Adds presidential spokesman's comment)KABUL, Nov 29 (Reuters) - The Afghan Taliban on Tuesday offered to protect major government projects, such as the mining of a big copper deposit and an international natural gas pipelin...Read More
KABUL, Nov 29 (Reuters) - The Afghan Taliban on Tuesday offered to protect major government projects, such as the mining of a big copper deposit and an international natural gas pipeline project, to allow them to get off the ground after years of delay.The Taliban have been behind much of the violence over the last 15 years that has frightened off investors, leaving Afghanistan unable to tap natur...Read More
TOKYO, Nov 29 (Reuters) - Benchmark Tokyo rubber futures dipped from 1-1/2 year highs on Tuesday, as investors took profit after Shanghai futures pared earlier gains and as weaker metals prices weighed on market sentiment, dealers said."The market took a breather after the recent rally and as prices of base metals retreated from the recent highs," said Toshitaka Tazawa, analyst at Fujitomi Co.The...Read More
* Inflation trades reverse: Treasury yields fall* Stocks fall on Wall Street weighed by consumer, banks* Crude volatile, pares gains late (Updates to U.S. market close, changes comments)By Rodrigo CamposNEW YORK, Nov 28 (Reuters) - Crude futures rose in choppy trading on Monday ahead of an OPEC meeting later in the week that could reap production cuts, while the dollar pared losses and U.S. stocks...Read More
* Inflation trades reverse: Treasury yields fall* Stocks fall on Wall Street weighed by consumer, banks* Crude volatile, pares gains late (Updates prices, changes comment)By Rodrigo CamposNEW YORK, Nov 28 (Reuters) - Crude futures rallied in choppy trading on Monday ahead of an OPEC meeting later in the week that could reap production cuts, while the U.S. dollar recovered from earlier losses but w...Read More
During his campaign Donald Trump promised to push through a $500 billion spending program to build bridges, roads, railways, schools and hospitals early next year. The president elect also has aspirations of $1 trillion in infrastructure build-out in the US over the next decade."Well targeted public spending initiatives could catalyse private economic activity and help to get the global economy ou...Read More
Anglo American (LON:AAL) has decided to keep all activity at its Los Bronces copper mine in Chile halted following a fresh attack by hooded protesters who seized installations over the weekend.The group "violently and illegally" entered the mine site early Saturday morning, the company said in a statement (in Spanish), just hours after unions representing staff of contractor firms employed at Los...Read More
Despite increased demand for nickel, low profitability owing to the combination of persistently low prices and higher costs may result in project closures over the next five years, according to research and consulting firm GlobalData.The company's latest report states that operating nickel mines scheduled for closure during the forecast period include the Savannah and Mount Keith mines in Australi...Read More
* Inflation trades reverse: Treasury yields fall* Stocks fall on Wall Street weighed by consumer, banks* Crude volatile ahead of OPEC meeting (Updates prices)By Rodrigo CamposNEW YORK, Nov 28 (Reuters) - Crude futures rallied in choppy trading on Monday ahead of an OPEC meeting later in the week that could reap production cuts, while the U.S. dollar recovered from earlier losses but was still slig...Read More
Investing.com - Gold prices rose more than 1% on Monday, rebounding from nine-and-a-half month lows as the dollar reversed some of its post U.S. election gains after surging to almost 14-year highs last week.Gold for December delivery was trading at $1,192.5 a troy ounce by 0934 GMT, after earlier rising as high as $1,197.00.The precious metal touched a low of $1,171.21 per ounce on Friday, a leve...Read More
(Adds company news item, updates futures)Nov 28 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 5 points at 6,836 on Monday, according to financial bookmakers, with futures FFIc1 down 0.25 percent ahead of the cash market open.* The UK blue chip index closed 0.2 percent higher on Friday at 6,840.75, making its third straight week of gains as weakness in banking and mining stocks wa...Read More
Nov 28 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 5 points at 6,836 on Monday, according to financial bookmakers.* The UK blue chip index closed 0.2 percent higher on Friday at 6,840.75, making its third straight week of gains as weakness in banking and mining stocks was offset by strength in pharma shares. BP: BP BP.L has agreed to buy 10 percent of Eni's ENI.MI Shorouk con...Read More
While precious metals (with the exception of palladium) have suffered a deep sell-off since the surprise outcome of the US presidential elections, the rally in industrial metals seems only to be gaining momentum.The copper price added 7.7% last week, while nickel rose more than 6% and tin continued its good run. Both zinc and lead enjoyed double digit gains with the former reaching a near nine-y...Read More
It appears the Turkish government is attempting to suppress criticism of a mine disaster last weekend that killed 12 miners and left four still missing.The Guardian reports that Turkish authorities detained a journalist working for the BBC's Turkish-language service in southeastern Turkey. The female reporter was apparently attempting to speak with relatives of the miners who died at the mine. No...Read More
Investing.com - Gold prices closed at the lowest level in nine months on Friday as expectations for higher U.S. interest rates continued to cloud the demand outlook for the precious metal.Gold for December delivery settled down 0.53% at $1,183.00 on the Comex division of the New York Mercantile Exchange, the lowest close since February 5.Safe haven demand for gold has been hit since the U.S. presi...Read More
By Melanie BurtonMELBOURNE, Nov 25 (Reuters) - A plan by Zambia to put a duty on copper concentrates imports could put a kink in the global supply chain for the metal, industry sources said, by forcing neighbouring Democratic Republic of Congo (DRC) to send surplus mine output elsewhere.The 7.5 percent duty announced earlier this month and due to come into force at the start of 2017, is likely to...Read More
By Manolo Serapio JrMANILA, Nov 25 (Reuters) - Surging volatility in China's iron ore futures is sending global prices on a roller-coaster ride, spelling risks for traders and steel mills, some of whom are losing faith in a market swayed by speculative Chinese money.Amid wild swings in futures, spot iron ore prices .IO62-CNO=MB surged by a record 23 percent in the second week of November, only to...Read More