(Adds industrial production data, analyst comments, updates markets)* Producer price index increases 0.4 percent in January* PPI excluding food, energy, trade rises 0.4 percent* Weekly jobless claims increase 7,000 to 230,000* Industrial production falls 0.1 percent in January By Lucia MutikaniWASHINGTON, Feb 15 (Reuters) - U.S. producer prices accelerated in January, boosted by strong gains in...Read More
MUNICH/FRANKFURT, Feb 15 (Reuters) - Major shareholders in online classified-ads firm Scout24 are selling about 340 million euros ($424 million) worth of stock, bookrunner JP Morgan said on Thursday, accounting for 8.6 percent of the group's total stock.As part of the sale of about 9.25 million shares, U.S. investor Hellman & Friedman would fully exit the company after having listed it about t...Read More
(Kitco News)- Ray Dalio has waded deeper into the gold market as his hedgefund, Bridgewater Associates, increased its position in two of the world’slargest gold-backed exchange traded funds in the fourth quarter, according tofiling with the Securities and Exchange Commission.The filings show that the Hedge fund, which manages about$150 billion in global assets, increased its holdings in SPRD...Read More
(Kitco News) - Don’t expect a strong U.S. dollar this year, said Capital Economics, adding that a reversal in greenback’s expectations will work in favor of higher gold prices.“We have recently decided to abandon our forecast of a stronger dollar this year,” Simona Gambarini, commodities economist at Capital Economics, said in a note published on Thursday. “We now exp...Read More
Dr. John-Mark Staude of Riverside reportsRIVERSIDE PROVIDES UPDATE ON EXPLORATION AND DRILLING IN SONORA, MEXICO Riverside Resources Inc. recently completed a partner-financed diamond drilling campaign at the Puerto Alamo target at the 36-square-kilometre Glor gold project. The exploration and drilling work was financed by partner Centerra Gold Inc., as part of its option to earn a 70-per-cent int...Read More
It's been a volatile day of trading on Wall Street following this morning's latest inflation update, with the Dow Jones Industrial Average (DJI) exploring a 311-point range on both sides of breakeven so far. At last check, the blue-chip index was in positive territory, and earlier traded north of 25,000 for the first time since Feb. 7, thanks to a positive earnings reaction for Cisco (CSCO) stock....Read More
* Emerging recovery for segments of global shipping industry* Hedge funds making bets on multiple shipping stocks* Nordic American Tanker and Dryships Inc among popular stocks (Updates with Greywolf background, quote)By Maiya Keidan and Jonathan SaulLONDON, Feb 15 (Reuters) - Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million...Read More
JERUSALEM, Feb 15 (Reuters) - Israel's annual inflation rate rose for the fifth straight month in January, data from the Central Bureau of Statistics showed on Monday.The consumer price index showed prices gained 0.1 percent from a year earlier versus a 0.4 percent increase in December. Analysts polled by Reuters had predicted a 0.1 percent rise.Inflation in 2017 was 0.4 percent, as prices in the...Read More
* Jan. producer prices rise as much as expected* Cisco shares up after upbeat results and forecast* Apple gains after Berkshire Hathaway boosts stake* Indexes up: Dow 0.2 pct, S&P 0.2 pct, Nasdaq 0.5 pct (Changes comment, adds details, updates prices)By Sruthi Shankar and Aparajita SaxenaFeb 15 (Reuters) - Wall Street's main indexes were trading higher on Thursday with gains in technology and...Read More
* "Transatlantic spread" hits 216 bps, highest since April 2017* Inflation triggers fresh U.S. Treasury sell-off* Political risk caps European government bond yields (Updates prices)By Abhinav RamnarayanLONDON, Feb 15 (Reuters) - The gap between German and U.S. 10-year borrowing costs reached its widest point since April on Thursday after higher-than-expected inflation in the United Stat...Read More
STOCKHOLM, Feb 15 (Reuters) - Swedish Central Bank Deputy Governor Martin Floden is set to get a new term when his mandate expires in May, with a formal decision likely on Friday, three sources with knowledge of the matter told Reuters.Considered one of the more hawkish members on the six-person rate-setting board, Floden's vote could tilt the balance towards the Riksbank's beginning to raise inte...Read More
Feb 15 (Reuters) - Australia's top gold miner, Newcrest Mining Ltd, on Thursday reported a 58-percent fall in half-year underlying profit, dragged down by disruptions such as an earthquake hitting one of its key sites earlier in 2017.Underlying profit slid to $116 million in the six months to Dec. 31, down from $273 million the year before and below a forecast of $143 million based on the average...Read More
* Graphic: World FX rates in 2018 * Graphic: Trade-weighted sterling since Brexit vote By Tommy WilkesLONDON, Feb 15 (Reuters) - Sterling gained for the fourth day on the trot against the dollar on Thursday, briefly touching $1.41 on the back of a broadly weakened U.S. currency, with traders eyeing earnings data next week to give the pound fresh momentum.The pound has rallied in 2018 on the back o...Read More
By Bruno FederowskiSAO PAULO, Feb 15 (Reuters) - Latin American markets rose on Thursday as global stocks shrugged off recent losses and traded higher, supporting demand for riskier assets.Currencies and stocks throughout the region rose as global markets recovered from a deep sell-off triggered by figures showing rising U.S. wages. Some investors fear that increased inflationary pressure could dr...Read More
* Output down in Nov-Dec, hitting 2017 GDP* Jan industrial output up 2.9 pct, yr/yr, beating forecasts* Growth may be short-lived, analyst says (Adds details, analysts, background)By Zlata GarasyutaMOSCOW, Feb 15 (Reuters) - Russia's industrial output rose 2.9 percent in January compared with January a year ago, recovering after two months in red, the state statistics service said on Thursday.Anal...Read More
ZAGREB, Feb 15 (Reuters) - Croatia will offer 1.3 billion kuna ($218.13 million) worth of treasury bills at an auction next week, the Finance Ministry said on Thursday.On Feb. 20, the ministry will again offer one-year paper which has been the only paper offered in several recent auctions as well. Occasionally the ministry also offers bills of three-month and six-month maturities as well as those...Read More
(Adds quotes, details)VERONA, Italy, Feb 15 (Reuters) - Italy's largest coffee group Lavazza does not plan to go public for the time being and is still busy integrating the four companies bought in the last three years, its vice president said."Before thinking to new acquisitions we have to consolidate what we have done last year," Marco Lavazza said.Lavazza's acquisition spree has shar...Read More
MOSCOW, Feb 15 (Reuters) - Polyus, Russia's largest gold producer, posted a 7 percent increase in 2017 adjusted net profit to $1.02 billion, the company said on Thursday.The gold producer saw rising sales last year and expects to both invest and produce more in 2018, as it aims to ramp up production at its newly-launched Natalka gold deposit in Russia's far east.In the fourth quarter, Polyus saw a...Read More
It's already been a challenging start to 2018 for Texas-based oil-and-gas stock Newfield Exploration Co. (NYSE:NFX), with the shares down nearly 19% on a year-to-date basis. But if history is any guide, NFX is on the cusp of more heavy losses in the holiday-shortened week ahead.According to data from Schaeffer's Senior Quantitative Analyst Rocky White, NFX stands out as one of the worst-performing...Read More
GOLD (in USD) Bullish momentum. Gold is recovering after its recent strong sell-off. Resistance at 1337 (12/09/2017) is broken, confirming a strong bullish bias. Further resistance at 1358 (08/09/2017) approaches. Supports given at 1306 (04/01/2018 low) and 1290 (16/10/2017) remain. The technical structure suggests further upside moves. In the long-term, the technical structure suggests that...Read More