MILAN, Feb 5 (Reuters) - Credito Fondiario, an Italian bad loan specialist that in late 2017 backed a vital capital raising at Banca Carige , has liquidated its 5.4 percent stake in the lender, a regulatory filing showed.Market regulator Consob said on Monday Panfilo Tarantelli, founder and CEO of Tages Group, a London-based investment firmwhich controls Credito Fondario, had sold his entire stake...Read More
(Kitco News)- Momentum continuesto shift in the gold market as hedge funds kept their exposure to gold andsilver materially unchanged last week, according to the latest trade data fromthe Commodities Futures Trading Commission.”Many analysts havewarned that the gold’s overstretched market is on the cusp of a much-neededconsolidation period, and speculative interest in the yellow metal...Read More
(Updates prices)* Biggest 2-day drop in more than six months* Graphic: Trade-weighted sterling since Brexit vote By Saikat ChatterjeeLONDON, Feb 5 (Reuters) - Sterling fell 0.7 percent on Monday as surveys showing a slowing British economy and negative news around Brexit negotiations sapped investor confidence in a busy week for the central bank.Financial data firm IHS Markit said on Monday growt...Read More
(Writes through)FRANKFURT, Feb 5 (Reuters) - The European Central Bank raised its purchases of company debt in January while slashing its buying of government bonds, ECB data showed on Monday, in a sign that the focus of its huge stimulus programme may be shifting.Aimed at lowering borrowing costs for companies, the ECB's purchases of corporate bonds have been criticised by some European lawmaker...Read More
(In Feb 2 item, corrects figure in paragraph 11 to "$1.5 trillion" from "$1.5 billion".)* Nonfarm payrolls increase by 200,000 in January* Unemployment rate unchanged at 4.1 percent* Average hourly earnings rise 0.3 percent* Average hourly earnings increase 2.9 percent year-on-year By Lucia MutikaniWASHINGTON, Feb 2 (Reuters) - U.S. job growth surged in January and wages incr...Read More
* GRAPHIC-2018 asset returns: * LME/ShFE arb: (Adds official midday prices)By Maytaal AngelLONDON, Feb 5 (Reuters) - Copper hit a three-week high on Monday as the dollar rally paused and the balance of supply and demand looked to stay relatively tight, while nickel climbed after posting its largest daily loss in two months on Friday.The dollar remained mired near three-year lows as resurgent U.S....Read More
MONTEVIDEO, Feb 5 (Reuters) - Consumer prices in Uruguay rose 2.71 percent in January, bringing the 12-month inflation rate to 6.67 percent, the government's National Statistics Institute said on Monday.The central bank targets annual inflation of between 3-7 percent. Consumer prices rose a total of 6.55 percent in full-year 2017. (Reporting by Eloisa Capurro; Writing by Luc Cohen) Disclaimer: Th...Read More
* Gecamines wants renegotiations to start in second quarter* Congo is Africa's biggest miner of cobalt, copper* Foreign investors raise concern about new mining law (Updates with comments from interview, Ivanhoe reaction)By Barbara LewisCAPE TOWN, Feb 5 (Reuters) - Democratic Republic of Congo's state mining company Gecamines said on Monday it wanted to start renegotiating contracts with its inter...Read More
WASHINGTON, Feb 5 (Reuters) - The White House said on Monday it respected Larry Lindsey's decision to withdraw from consideration as vice chair of the Federal Reserve Board."We respect Dr. Lindsey's decision to withdraw his name from consideration at this time. As one of the nation's leading economic policy experts, Dr. Lindsey has been a valuable resource to the Administration. We wish him t...Read More
U.S. stocks are extending theirworst sell-off in years. The Dow Jones Industrial Average (DJI) istrading in the red, down triple digits, despite blue-chip Apple's (AAPL) attempt to climb out of correction territory. While the Dow is off its session lows, energy stocks are keeping up the pressure, and financial stocks are following Wells Fargo (WFC) lower. The S&P 500 Index (SPX) is also lower at...Read More
SOFIA, Feb 5 (Reuters) - The Bulgarian Stock Exchange BSE , majority controlled by the state, has finalised a 5.2 million levs ($3.3 million) deal to acquire the Balkan country's energy exchange IBEX after receiving all regulatory approvals, it said on Monday.State-owned energy holding BEH pledged to transfer the control of the day-ahead power exchange, setup in early 2016, as part of a settlement...Read More
Bank of America Corp (NYSE:BAC) is trading down a modest 0.2% today at $31.90, despite sharp losses for fellow financial stock Wells Fargo (WFC). Plus, the shares are holding near their nine-year peak of $32.67 -- hit during last Friday's broad-market bloodbath -- and are up 37% on a year-over-year basis. And if history is any guide, BAC stock could be headed for even higher highs in the near term...Read More
JOHANNESBURG, Feb 5 (Reuters) - South Africa's Sibanye-Stillwater's full year platinum production rose compared with the year-ago period, while gold production fell after the firm mothballed its Cooke operations, the diversified miner said on Monday.Platinum group metals production in South Africa rose 4 percent above the firm's guidance, to stand at to 1.19 million ounces.Gold production was high...Read More
(Fixes typo in headline)* Wells Fargo falls after Fed's unprecedented action* Qualcomm falls on report of Apple dumping co in favor of Intel* Apple top boost on all three major indexes* Dow off 0.06 pct, S&P flat, Nasdaq up 0.31 pct By Tanya AgrawalFeb 5 (Reuters) - U.S. stocks pared losses to trade little changed in late morning trading on Monday as a rise in bond yields paused and technolo...Read More
NEW YORK, Feb 5 (Reuters) - The euro pared some losses against the dollar on Monday after European Central Bank President Mario Draghi said the euro zone economy has strengthened enough to lift regional inflation towards the ECB's 2-percent goal. At 11:18 a.m. (1618 GMT), the single currency was down 0.40 percent at $1.2410, which was below a three-year peak of $1.2536 set on Jan. 25, Reuters data...Read More
By Bruno FederowskiSAO PAULO, Feb 5 (Reuters) - Latin American stocks fell on Monday as fears of resurgent inflation in the United States weighed on demand for emerging market assets.The move came on the heels of sharp losses on Friday, after data showed the largest U.S. wage growth since 2009 fueling expectations of faster interest rate hikes this year. The report drove profit-taking on high-yiel...Read More
WASHINGTON, Feb 5 (Reuters) - For details of the U.S. Treasury's auction of 4-week bills on Tuesday, see: (Washington economics newsroom) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee s...Read More
GOLD Spot Gold is consolidating on Monday after Friday’s sharp fall on upbeat US jobs data which boosted hopes for Fed’s more aggressive approach to US monetary policy this year.The yellow metal fell by 1.3% on Friday in the biggest one-day fall in nearly two months, generating bearish signal on completion of H&S pattern on daily chart as well as strong bearish weekly close.Improv...Read More
By Renita D. YoungNEW YORK, Feb 5 (Reuters) - With the price of palladium spiking to a record high last month, the effects could be felt in the automotive industry as manufacturers of catalytic converters consider raising their prices and may change the mix of metals in their products.Increased automotive industry demand and a supply shortage boosted the price of palladium, the principal metal use...Read More
Apple (AAPL) supplier Broadcom Ltd (NASDAQ:AVGO) is in focus today after the semiconductor concern raised its bid to buy Qualcomm (QCOM) to $121 billion, or $82 per share. The cash-and-stock deal -- which includes a $10 billion termination fee, according to CNBC -- represents Broadcom's "best and final offer." While QCOM is trading down 2.6% today, AVGO shares were last seen trading up 1.6% at $2...Read More