* 10-year yields hit highest since July 2014 before stabilizing* U.S. government shutdown begins third day By Kate DuguidNEW YORK, Jan 22 (Reuters) - Benchmark Treasury yields hit their highest in more than three years on Monday, as investors largely shrugged off a U.S. government shutdown, anticipating it will not have a significant long-term impact on the world's largest economy.Both Republican...Read More
WASHINGTON, Jan 22 (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...Read More
Juno Therapeutics Inc (NASDAQ:JUNO) agreed to be bought out by Celgene Corporation (NASDAQ:CELG), confirming last week's reports in the Wall Street Journal. CELG already owns a 9.7% stake in JUNO, but will purchase the remainder of the company in an all-cash deal valued at roughly $9 billion, or $87 per JUNO share -- allowing it access to the Seattle-based firm's CAR-T cancer drug pipeline.At last...Read More
(Adds stocks, updates levels)JOHANNESBURG, Jan 22 (Reuters) - South African markets strengthened on Monday, driven by optimism about the prospects for change under the new leader of the ruling African National Congress (ANC).At 1513 GMT, the rand traded at 12.1100 per dollar, 0.49 percent firmer than its New York close on Friday.The ruling ANC discussed last week removing President Jacob Zuma as...Read More
A measure of national economic activity calculated at the Chicago Federal Reserve gained in December with a particular push from factories. Housing and other components in the index softened. The Chicago Fed's index of national economic activity rose to a positive 0.15 last month from a downwardly revised positive 0.11 in November, the central bank branch reported Monday. October's reading of posi...Read More
(Kitco News)- For the fifth consecutive week,hedge funds continue to buy gold in a weak U.S. dollar environment.However, while there issubstantial bullish sentiment within the gold market, analysts are warning thatmomentum could be fading as bearish positions start to build.“There is underlying demand inthe gold market that is visible but the speed at which speculative longpositions have bui...Read More
(Adds details from letter)By Svea Herbst-BaylissBOSTON, Jan 22 (Reuters) - Billionaire investor Daniel Loeb praised food group Nestle's chief, but is keeping up the pressure with demands that the company move faster to overhaul its strategy."We hope now that Dr. Schneider has completed his first year and there is new blood on the board, the company is able to move with greater alacrity,"...Read More
By Tuomas ForsellHELSINKI, Jan 22 (Reuters) - Europe's next financial crisis may be averted with the help of a new "safe asset" aimed at breaking a vicious circle of lending by banks to their national governments, the man in charge of creating it said on Monday. Philip Lane, the head of a taskforce working on a synthetic bond backed by the sovereign debt of all EU countries, said Safe Bo...Read More
Array Biopharma Inc (NASDAQ:ARRY) is up 13.7% to trade at $14.93, and earlier touched a 16-year high of $15.66, after Leerink upgraded the cancer treatment specialist to "outperform" from "market perform," while issuing a price-target hike to $19 from $12. The upgrade comes after the biotech stock reported strong clinical results over the weekend from its BEACON cancer treatment trials, with Leeri...Read More
MOSCOW, Jan 22 (Reuters) - International Bank of Azerbaijan has applied to a local district court for a 180-day extension to its restructuring proceeding, D.F. King, an agent to the lender on the restructuring, said in a statement.IBA, which is Azerbaijan's biggest lender and is controlled by the state, is undertaking a $3.3 billion debt restructuring. (Reporting by Maria Kiselyova; Writing by Chr...Read More
* Juno Therapeutics jumps after Celgene's $9 bln deal* AIG to buy reinsurer Validus for $5.6 bln* Senate to vote on extending U.S. funding at noon* Indexes: Dow flat, S&P up 0.2 pct, Nasdaq up 0.26 pct (Updates to open)By Sruthi ShankarJan 22 (Reuters) - The S&P and the Nasdaq were marginally higher on Monday, while losses in industrial stocks such as General Electric and Boeing as well as...Read More
HONG KONG, Jan 22 (Reuters) - Beijing Electric Vehicle Co (BJEV) will gain a stock market listing through a share issue and asset swap deal valuing the state-backed electric car manufacturer at 28.8 billion yuan ($4.5 billion), according to a Shanghai stock exchange filing.ChengDu QianFeng Electronics Co , one of the listed arms of Beijing Automotive Group (BAIC Group), will buy BJEV in an asset s...Read More
Cybersecurity stock Palo Alto Networks Inc (NYSE:PANW) touched an annual high last week after an upgrade from Evercore ISI, who said the company has "room to flourish." It's a different story today, however, with PANW stock sliding 3.1% to trade at $152.29 following bearish attention from Goldman Sachs. The firm downgraded the shares to "neutral" from "buy" and trimmed its price target to $168 fro...Read More
Despite a stellar year on the charts, tech titan Apple Inc (NASDAQ:AAPL) is trading 0.7% lower at $177.49 today, after the FAANG stock received its second downgrade in as many weeks. This time, the bearish note came from Atlantic Equities, which cut its AAPL rating to "neutral" from "overweight, " citing softening iPhone demand. The brokerage firm also reduced its current-quarter revenue estimate...Read More
* Signs deal with Sobeys; shares up more than 20 pct* Hedge funds had bet on share price fall* Ten funds had short positions over 0.5 pct - filings By Simon JessopLONDON, Jan 22 (Reuters) - Hedge funds which have bet on a fall in the share price of Ocado will have taken a hit after the online retailer unveiled a new international technology deal which sent its stock up by more than a fifth.Canadi...Read More
(Adds background, more commissioner comments)BRUSSELS, Jan 22 (Reuters) - Euro zone finance ministers will decide on Monday whether Greece is eligible for the next tranche of bailout loans after listening to an expert review of reforms recently adopted by Athens, top euro zone officials said.To pay out 6.7 billion euros ($8.2 billion) of new loans, probably in more than one tranche, international...Read More
Jan 22 (Reuters) - The Baltic Exchange's main sea freight index rose for the first time in nearly two weeks on Monday as rates of panamax segment firmed up, but gains were capped by a slide in capesize rates.* The overall index, which tracks rates for ships carrying dry bulk commodities, rose 4 points, or 0.36 percent, to 1,129 points, after falling for the previous eight consecutive sessions.* Ba...Read More
TORONTO, Jan 22 (Reuters) - Canada's main stock index fell on Monday as declines for the materials and industrial groups offset gains for financial shares.The Toronto Stock Exchange's S&P/TSX composite index fell 38.41 points, or 0.23 percent, to 16,315.05, shortly after the open. Seven of the index's 10 main groups were lower. (Reporting by Fergal Smith Editing by Chizu Nomiyama) Disclaimer:...Read More
(Corrects spelling of company name in 7th paragraph to "OppenheimerFunds" instead of "OpperheimerFunds")* Republicans scramble for funding deal before midnight deadline* Some see modest market effect from a U.S. government shutdown* Euro near 3-year high, yen close to 4-month high vs dollar* Rising U.S. yields fail to lift greenback By Richard LeongNEW YORK, Jan 19 (Reuters) -...Read More
By Andrew TorchiaDUBAI, Jan 22 (Reuters) - Iran's central bank chief on Monday warned investors speculating on the fall of the rial that they were heading for losses because his bank could control the foreign exchange market and the currency was likely to rebound in the next couple of months.Goveror Valiollah Seif was quoted by Iran's Tasnim news agency as the rial sank to record lows versus the d...Read More