The stock market tailspin of late has triggered the fastest exodus of bulls in decades. However, the recent correction could present buying opportunities for speculators who believe past is prologue. In fact, Dollar Tree, Inc. (NASDAQ:DLTR) stock tends to be among the best to buy after sharp S&P 500 Index (SPX) drops from record highs. Below, we take a look at why the discount retailer could be a...Read More
(Recasts headline and updates story throughout)By Kristen HaunssNEW YORK, Feb 9 (Reuters) -A US court ruled on Friday that a key lender to some of the largest companies should be exempt from a Dodd-Frank financial reform legislation requirement that investment firms hold some of their funds' risk.The US Court of Appeals for the District of Columbia Circuit ruled in favor of the Loan Syndications...Read More
* Says 2017 fee and interest income 4 pct below plan's forecast* Working on 500 mln euro sale after 2.2 bln euro sales in 2017* Italian banks stepping up targets for bad loan sales (Adds comment on business plan)MILAN, Feb 9 (Reuters) - Banca Carige pledged on Friday to sell up to an extra 1 billion euros ($1.2 billion) in bad debts this year, joining the ranks of Italian banks that have bowed to...Read More
* Main indices all now in correction territory* Down more than 10 percent from Jan. 26 peaks* Bond yields steady, but volatility blips higher again* Indexes down: Dow 1.45 pct, S&P 1.25 pct, Nasdaq 1.7 pct (Updates with afternoon fall)By Sruthi ShankarFeb 9 (Reuters) - Wall Street's main indexes fell more than 1 percent in early afternoon trading on Friday, deepening losses in the past week th...Read More
BENGALURU/MUMBAI, Feb 9 (Reuters) - Physical gold demand in Asia picked up towards the end of the week, as a pullback in prices spurred purchases ahead of the Lunar New Year in China and the wedding season in India.Spot gold has declined about 1 percent so far this week and was headed for a second straight weekly drop due to a recovery in the dollar."Retail buyers are comfortable with the current...Read More
(Kitco News)- In less than a month, BMO Capital Markets has lost its topleadership in the precious metals mining spaces as Egizio Bianchini gets readyto leave the bank to take an executive role at Ivanhoe Mines (TSX: IVN).After 29-years years at BMO, the bank announced Thursdaythat Bianchini’s has retired as vice-chair and co-head of its Global Metals& Mining Group. As of March 12, Bianc...Read More
* Cunliffe joins critics of EU Brexit guidance for funds* Cunliffe says Brexit won't lead to big risks for funds (Adds more detail)By Huw JonesLONDON, Feb 9 (Reuters) - Curbing the ability of asset managers located in Britain to run funds based in the European Union after Brexit would be costly and inefficient and could fragment markets, Bank of England Deputy Governor Jon Cunliffe said on Friday....Read More
ABUJA, Feb 9 (Reuters) - Nigeria's central bank said on Friday it had injected $325.64 million into the interbank foreign exchange market as part of efforts to boost liquidity and reduce dollar shortages.Nigeria, an OPEC member which has Africa's largest economy, fell into recession in 2016 largely due to low crude oil prices. Lower oil receipts led to dollar shortages since crude sales are the co...Read More
It has certainly been a chaotic trading week for the global equity markets, amid fears of mounting inflationary pressures and higher interest rates. Asian shares suffered heavy losses during early trading on Friday following Wall Street’s steep declines overnight. Wall Street experienced severe losses on Thursday with the Dow Jones Industrial Average plunging more than 1000 points. Now US st...Read More
* GRAPHIC-Firms struggle to find workers: * GRAPHIC-wage pressures building: * GRAPHIC-French unemployment tops 9 pct: By Leigh ThomasPARIS, Feb 9 (Reuters) - Business is booming for Sylvie Guinard, who runs French machine manufacturer Thimonnier. The problem is, she can't find the enough staff - even in a country where millions of people are out of work. Guinard, who has a workforce of about 80,...Read More
LONDON, Feb 9 (Reuters) - Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.1/INFLATION GYRATIONS Whether world markets settle down now or suffer a fresh volatility shockwave may be determined by next week's consumer and producer price inflation readings in the United States.They are expected to show U.S. c...Read More
* Posts 381 mln euro 2017 loss after 417 mln euro loan writedowns* Working on 500 mln euro sale after 2.2 bln euro sales in 2017* Italian banks stepping up targets for bad loan sales MILAN, Feb 9 (Reuters) - Banca Carige pledged on Friday to sell up to an extra 1 billion euros ($1.2 billion) in bad debts this year, joining the ranks of Italian banks that have bowed to regulatory pressure to clean...Read More
BUENOS AIRES, Feb 9 (Reuters) - Peru's economy likely grew between 2.4 and 2.5 percent in 2017, Jorge Estrella, the manager of the central bank's economic studies, told journalists in a conference call on Friday.The central bank had previously estimated growth of 2.7 percent for last year.(Reporting by Teresa Cespedes and Marco Aquino; Writing by Caroline Stauffer Editing by Chizu Nomiyama) Discl...Read More
JOHANNESBURG, Feb 9 (Reuters) - African miner Thor Explorations will most likely choose London's junior AIM market to list its shares this year in its bid to raise up to $35 million, its chief executive said on Friday.Thor, which is already listed in Toronto's TSX Venture Exchange (TSX-V), will use the proceeds of the new listing mainly to fund its Segilola Gold Project in Nigeria. The company als...Read More
* SWFs anchor a record 26 IPOs in 2017-SWF Institute* Way for SWFs to take chunky stakes in EM stocks* Companies benefit from long-term, stable investors By Claire MilhenchLONDON, Feb 9 (Reuters) - A Mexican tequila maker, a Vietnamese mall operator and Indian life insurers were just some of the stockmarket debuts that enticed sovereign investors to take chunky stakes in record numbers last year,...Read More
Feb 9 (Reuters) - U.S. stock indexes slipped into correction territory again with a drop of more than more than 1 percent on Friday, as soaring volatility continued to spook investors.The Dow Jones Industrial Average was down 284.41 points, or 1.19 percent, at 23,576.05, the S&P 500 was down 25.03 points, or 0.969779 percent, at 2,555.97 and the Nasdaq Composite was down 82.50 points, or 1.22...Read More
The unnaturally-tranquil stock markets suddenly plunged over this past week. Volatility skyrocketed out of the blue and shattered years of artificial calm conjured by extreme central-bank distortions. This was a huge shock to the legions of hyper-complacent traders, who are realizing stocks don't rally forever. With stock selling unleashed again, herd psychology will start shifting back to b...Read More
* Fresh sell-off on stock markets hurts cyclical assets* GRAPHIC-2018 asset returns: * LME/ShFE arb: (Adds closing prices)By Jan HarveyLONDON, Feb 9 (Reuters) - Copper fell on Friday and other metals broadly retreated as stock markets extended this week's sharp slide, with the prospect of rising U.S. interest rates denting hopes that surging economic growth would drive up demand. Consequent sellin...Read More
Yamana Gold Inc. Inc. (TSX: YRI)(NYSE: AUY)announces that the company has filed an “early warning report” under NationalInstrument 62-103 in connection with Leagold Mining Corp.’s previouslyannounced intention to make an offer to acquire all outstanding common sharesof Brio Gold Inc. In the event Leagold makes an offer, Yamana says it hasagreed to tender its 63 million Brio share...Read More
MAPUTO, Feb 9 (Reuters) - Mozambique's economic growth slowed to 3.7 percent in 2017, official data showed on Friday, compared with a revised 3.8 percent expansion a year earlier. The growth was boosted by the southeastern African country's mining sector, which grew by nearly a third, data from the National Statistics Institute showed. (Reporting by Manuel Mucari; Editing by Kevin Liffey) Disclai...Read More