NEW YORK, Feb 8 (Reuters) - The U.S. Treasury Department on Thursday sold $16 billion of 30-year government bonds at a yield of 3.121 percent, which was the highest yield at a 30-year auction in 11 months, Treasury data showed.The ratio of bids to the amount of 30-year issue offered was 2.26, marking its weakest reading since November. This gauge of overall auction demand was 2.74 at the prior 30-...Read More
Shares of Facebook Inc (NASDAQ:FB) fell 2.8% on Wednesday, after Snap (NYSE:SNAP) -- which owns Instagram rival Snapchat -- reported impressive earnings. The FAANG stock has sold off alongside the broader stock market in recent weeks, but is now trading near a trendline that historically has had bullish implications. If past is precedent, FB shares could be headed back near record-high territory i...Read More
MUMBAI, Feb 8 (Reuters) - India has imposed a limit on the amount of sugar that mills can sell in the market during February and March, according to a government order late on Thursday, as the world's second biggest producer tries to prop up prices of the sweetener.At the end of February mills need to be holding as inventory at least 83 percent of the opening stock from January and February's prod...Read More
CAPE TOWN, Feb 8 (Reuters) - Mining is a long-term game, but in southern Africa dramatic political changes have transformed the investment mood for the better in the space of a year.Angola's Jose Eduardo dos Santos and Zimbabwe's Robert Mugabe stepped down in 2017 after a combined 75 years in office, while the election of Cyril Ramaphosa as head of South Africa's ruling ANC heralds the looming end...Read More
* Dow sinks another 500 points* 10-year bond yields creep up to near four-year highs* Weekly jobless claims fall to lowest level in nearly 45 years* Volatility measure VIX eases but remains elevated at 29.82* Dow -2.01 pct, S&P -1.65 pct, Nasdaq -1.83 pct (Updates to early afternoon)By Tanya AgrawalFeb 8 (Reuters) - The Dow Jones Industrial Average sank another 500 points on Thursday as a rene...Read More
(Bloomberg) - Endeavour Mining Corp. one of the fastest-growing gold producers in Africa, says bigger isn't always better."One of the reasons the majors have failed over the years is they've built such large corporate teams that the decision-making processes within those organizations is so slow," Chief Executive Officer Sebastien De Montessus said in an interview in Cape Town. "Being able to rem...Read More
WASHINGTON, Feb 8 (Reuters) - New York Federal Reserve President William Dudley said on Thursday that as long as the U.S. economy continues to grow above trend this year, he would be in favor of another interest rate rise at the U.S. central bank's upcoming meeting in March."As long as I am comfortable the economy continues to grow at an above-trend pace at a time that I think monetary policy...Read More
CAIRO, Feb 8 (Reuters) - Average yields on Egypt's six-month and one-year treasury bills fell on Thursday, data from the central bank showed, extending a decline that has taken yields to their lowest levels since the country floated its currency in late 2016.The yield on the 182-day bill fell to 17.358 percent from 17.611 percent at the last similar auction, and the yield on the 357-day bill fell...Read More
Feb 8 (Reuters) - Russian gold miner Petropavlovsk named Roman Deniskin as its chief executive on Thursday, following the resignation last year of its long-time CEO and co-founder.The appointment comes less than a month after Kazakh businessman Kenges Rakishev, who owns a 22 percent stake in Petropavlovsk, told Reuters that he wanted to bring back co-founder Pavel Maslovskiy as CEO.Maslovskiy resi...Read More
* Aluminium touches lowest in six weeks* GRAPHIC-2018 asset returns: * LME/ShFE arb: (Updates with closing prices)By Eric OnstadLONDON, Feb 8 (Reuters) - Copper extended its downtrend on Thursday, touching its lowest in nearly eight weeks, after another big rise of inventories highlighted that the market currently has healthy supplies.On-warrant copper inventories in warehouses certified by the Lo...Read More
Gold's short-term prospects have diminished, but all is not lost.Even as the dollar strengthens, gold's 2-year recovery remains intact.CRB raw industrials index holds the key to gold's longer-term future.After an impressive upside run over the last several weeks, the price of gold is showing weakness once again. This has caused participants to wonder how much lower the gold price must...Read More
* Higher U.S. Treasury yields underpin dollar* Dollar rebound likely unsustainable this year - poll* Dollar likely in bear market correction-analysts* Graphic: World FX rates in 2018 (Recasts, updates prices, adds comment, FX table, changes byline, dateline; previous LONDON)By Gertrude Chavez-DreyfussNEW YORK, Feb 8 (Reuters) - The dollar hit two-week highs against a basket of currencies in choppy...Read More
U.S. stocks have shed early gains, with the Dow Jones Industrial Average (DJI) down nearly 400 points at midday. Rising Treasury yields are once again in focus, with Caterpillar (CAT) and Intel (INTC) stocks weighing the most on the Dow, and Apple (AAPL) the only blue chip in the black. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also sharply lower, in yet another volatile day of trad...Read More
Exchange operator Cboe Global Markets Inc (NASDAQ:CBOE) was one of the biggest losers in the recent market pullback, with J.P. Morgan Securities yesterday suggesting the historic drop in leveraged volatility ETNs will hurt trading volumes going forward. The brokerage firm cited a similar development in 2011 when volatility spiked and VIX trading volumes declined substantially afterward. As such, t...Read More
(Kitco News) - Gold and silver prices are holding modest gains inlate-morning action Thursday. The metals are seeing a bit of benefit from U.S.stock indexes that are trading solidly lower on the day, in still-volatileconditions. Still, gains in the metals are being limited by a stableU.S. dollar index after its good gains scored earlier this week. April gold waslast up $2.80 at $1,317.40. March si...Read More
DENVER, /CSRwire/ - Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) has been recognized for top performance in the mining sector in The Sustainability Yearbook 2018. The Yearbook is published by RobecoSAM, a sustainability investment firm that manages one of the most comprehensive databases of financially material sustainability information in the world. RobecoSAM's assessment...Read More
* ECB calls for broad regulation of virtual currencies* Initial Coin Offerings also need to be controlled* Momentum for global coordination building ahead of G20 (Adds detail, quotes, background)By Marc Jones and Alasdair PalLONDON, Feb 8 (Reuters) - Cryptocurrencies like bitcoin and the banks and financial firms that trade them need to be more closely regulated, one of the ECB's top policymakers...Read More
JOHANNESBURG, Feb 8 (Reuters) - South Africa's Gold Fields said on Thursday it expects full-year profit to fall as much as 12 percent due to impairments and increased amortisation cost at its mines.The bullion miner flagged headline earnings per share - the main gauge of profit in South Africa - of $0.23 to $0.26 per share for the year ended Dec. 31, 2017, or between unchanged and up to 12 percent...Read More
SAO PAULO, Feb 8 (Reuters) - Latin American equities fell on Thursday, as local markets continued to mirror global caution following a sell-off in North America and Europe, while fears of more restrictive regional monetary policy also took a toll.Mexico's IPC was the region's biggest loser, falling 0.84 percent, while Chile's blue-chip IPSA index and Colombia's IGBC both fell 0.4 percent. Brazil's...Read More
Trade data from the Australian Bureau of Statistics released this week has again confirmed the importance of the mining industry to the Australian economy and the continuing benefits of the mining boom.In 2017 Australia's resources exports, including minerals, metals and petroleum, posted a new record high value of $207 billion and accounted for 53 per cent of Australia's total goods and services...Read More