(Recasts with Italo statement, details)By Paola ArosioMILAN, Feb 5 (Reuters) - Global Infrastructure Partners III funds (GIP) has presented an offer to buy railway group Italo, the Italian firm said on Monday.The infrastructure fund, the owner of London's Gatwick airport, was ready to pay 1.9 billion euros ($2.4 billion) for the whole railway firm, excluding debt, the railway group said after Reu...Read More
NEW YORK (Reuters) - The Dow briefly fell more than 10 percent from its Jan. 26 record high on Monday before paring losses to trade above its lows of the day.Both the Dow and S&P 500 were last down more than 3 percent, while the Cboe Volatility index .VIX jumped more than 100 percent on the day and hit its highest since August 2015.The Dow Jones Industrial Average .DJI fell 938.27 points, or 3...Read More
Latest employment report provides excuse for gold profit-taking.That same report contains seeds of gold's future demand, however.Two-year gold price recovery remains intact despite recent weakness.There's an old saying on Wall Street to the effect that when the stock market is stricken with panic, everything suffers in the ensuing decline. This includes even commodities and other non-equity as...Read More
(Kitco News) - Gold prices pushed to session highs late Monday afternoon, as U.S. stocks continued their massive selloff, with both the S&P 500 and the Dow plunging in a matter of minutes.Analysts pointed to a more hawkish Federal Reserve as the catalyst for the move down in equities.“What we are seeing in the market is a reaction to last week — with the Fed changing hands, and a m...Read More
* U.S. bond market stabilizes after 10-year yield hits 4-year peak* U.S. services sector strongest in over 12 years -ISM* ECB's Draghi sees risks from currency market volatility* Data show traders build bearish dollar bets in futures market (Updates market action, adds quote)By Richard LeongNEW YORK, Feb 5 (Reuters) - The dollar rose against a basket of currencies on Monday as U.S. bond yields ral...Read More
ReutersFederal Reserve Chairman Jerome Powell takes the oath of office. Jerome Powell officially took the helm of the Federal Reserve Board on Monday, replacing Janet Yellen in a carefully choreographed transition. Powell was sworn in Monday morning in a private ceremony. In a brief video statement posted on the Fed's website, Powell introduced himself to the country. "Hello, this is Jay Powell,...Read More
Agricultural issue Archer Daniels Midland Company (NYSE:ADM) is set to report earnings tomorrow morning, and the company could reach an agreement to buy Bunge (BG) as early as this week, according to reports. Below we will take a closer look at how the stock has been faring on the charts, and what the options market is pricing in for its post-earnings action.Archer Daniels Midland stock rallied on...Read More
CARACAS, Feb 5 (Reuters) - Venezuela's central bank on Monday said its new DICOM exchange rate would be at 30,987.5 bolivars per euro in its first auction.DICOM is now the country's only official exchange rate, though on the black market a dollar fetches 228,000 bolivars.Last week, the central bank removed the stronger DIPRO exchange rate of 10 bolivars per dollar.(Reporting by Caracas newsroom; W...Read More
NEW YORK (Reuters) - U.S. stocks’ losses accelerated in afternoon trading on Monday, pushing the S&P 500 down more than 5 percent from its Jan. 26 record high and the Dow below 25,000 for the first time since Jan. 4.The Dow and S&P 500 also fell below their 50-day moving averages, while the Cboe Volatility index .VIX was on pace for its largest one-day jump since August 2015.The S&am...Read More
NEW YORK, Feb 5 (Reuters) - The Dow briefly fell more than 10 percent from its Jan. 26 record high on Monday before paring losses to trade above its lows of the day.Both the Dow and S&P 500 were last down more than 3 percent, while the Cboe Volatility index jumped more than 100 percent on the day and hit its highest since August 2015.The Dow Jones Industrial Average fell 938.27 points, or 3.68...Read More
Gertrude Chavez-DreyfussNEW YORK (Reuters) - Digital currency bitcoin fell more than 15 percent on Monday to a nearly three-month low amid a slew of concerns ranging from a global regulatory clampdown to a ban on using credit cards to buy bitcoin by British and U.S. banks.On the Luxembourg-based Bitstamp exchange, bitcoin fell as low as $6,853.53 in early afternoon trading in New York. That marked...Read More
MOSCOW, Feb 5 (Reuters) - Russia's Vozrozhdenie Bank :* Bank publishes list of candidates for its board of directors without names of majority owners Dmitry and Alexei Ananyev* List also includes name of Yury Novozhilov, executive director of pension fund Blagosostoyanie* Bank says list was published by mistake and will be retracted on Tuesday morning* The Ananyev brothers held a majority stake in...Read More
(Adds quotes, data; Updates prices)* Ten-year yields highest since Jan 2014* Fed seen more aggressive on rate hikes* Treasury to sell $66 billion notes, bonds this week By Karen BrettellNEW YORK, Feb 5 (Reuters) - U.S. Treasury yields pulled back from almost four-year highs reached overnight on Monday as investors weighed whether a dramatic week-long selloff had run its course, after improving ec...Read More
NEW YORK, Feb 5 (Reuters) - U.S. stocks' losses accelerated in afternoon trading on Monday, pushing the S&P 500 down more than 5 percent from its Jan. 26 record high and the Dow below 25,000 for the first time since Jan. 4.The Dow and S&P 500 also fell below their 50-day moving averages, while the Cboe Volatility index was on pace for its largest one-day jump since August 2015.The S&P...Read More
U.S. stocks continue to sink, mired in their worst sell-off in over a year. Among the stocks making notable moves today are chip stock Intel Corporation (NASDAQ:INTC), as well as biotech stocks Prothena Corporation (NASDAQ:PRTA) and Corcept Therapeutics Incorporated (NASDAQ:CORT). Here's a closer look at what's moving shares of INTC, PRTA, and CORT today.Apple Hopes Bolster INTC StockIntel stock...Read More
General Motors Company (NYSE:GM) is scheduled to report fourth-quarter earnings tomorrow morning. GM stock has a mixed history of post-earnings price action, but options traders are lining up on the bullish side of the fence ahead of the results, with nearly 67,000 calls traded so far today -- two times what's typically seen, and volume pacing in the 94th annual percentile.The March 50 call is mos...Read More
By Huw JonesLONDON, Feb 5 (Reuters) - British and European Union watchdogs could sign a pact to avoid Brexit disrupting trillions of pounds in cross-border financial contracts and undermine market stability, a top UK regulator said on Monday.Britain and the EU are negotiating the detail of a transition agreement to bridge the UK's departure from the bloc in March next year and start of new trading...Read More
* Stock markets extend recent selloff* Silver firms after biggest 1-day drop since Dec 2016* GRAPHIC-2018 asset returns: (Recasts throughout; updates prices, headline; adds comment, NEW YORK to dateline)By Renita D. Young and Jan HarveyNEW YORK/LONDON, Feb 5 (Reuters) - Gold prices steadied on Monday as a slide in stock markets helped the precious metal claw back some lost ground after logging its...Read More
(Adds comments on tax cuts, yield curve, inflation, background)By Ann SaphirFeb 5 (Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari, who voted against the Fed's interest-rate hikes last year, said on Monday he needs more convincing that wages and prices are on the rise before he would support further monetary policy tightening.Wages rose faster last year in more states than in...Read More
Gold futures ended lower Monday, failing to rebound from last week's losses, as recent data showing stronger U.S. hiring and wages boosted the prospects for a more aggressive Federal Reserve approach to interest rates and continued to lift the dollar. U.S. stocks traded sharply lower Monday, part of a broader global equity selloff, but didn't fuel any haven-related investment demand to the yellow...Read More