Polyus PJSC is selling shares worth at least $700 million as Russia's largest gold producer seeks to meet Moscow's stock-listing rules and raise cash.At least 7 percent of the company will be offered through a combination of new and existing shares owned by billionaire Suleiman Kerimov's family, according to a statement on Monday. Some of the shares will be traded as global depository receipts on...Read More
Many gold investors have been confused this year by the divergence between the solid performance of gold itself and the shaky performance of gold miner stocks.The answer can be found in the much lower volatility of the gold price in 2017 compared to 2016.Gold miner stocks offer excellent leverage to a rapidly rising gold price, but not so much for a slowly rising gold price.The disappointing perfo...Read More
LJUBLJANA, June 6 (Reuters) - Slovenia will probably not go ahead with plans to sell a stake in the country's largest bank, state-owned Nova Ljubljanska Banka (NLB), at present, Deputy Prime Minister Karl Erjavec said on Tuesday.Slovenia had committed to sell 50 percent of NLB this year and another 25 percent in 2018 in exchange for the European Commission's approval of state aid for the bank in 2...Read More
* Two market transactions worth combined 2 bln euros* Bayer to shift 530 mln in Covestro shares into pension fund* Bayer says to keep majority of voting rights for now* Still aims to reduce stake to zero over medium term (Adds details, new percentage to be disclosed at later stage, voting rights)By Ludwig BurgerFRANKFURT, June 6 (Reuters) - Bayer AG set out on Tuesday to reduce its stake in plasti...Read More
(Kitco News) - Gold pricesended the U.S. day session solidly higher and hit a seven-week high Tuesday.Prices are within easy striking distance of the key $1,300.00 mark. Bullishcharts, a weak U.S. dollar and safe-haven demand are all working in favor ofthe gold market bulls, at present. Meantime, silver prices notched a five-weekhigh and are in a near-term uptrend. August Comex gold was last up $1...Read More
On Tuesday, the return of the safe haven buyer and a weaker US dollar combined to lift the metal to its highest level since the election of Donald Trump on November 8.Gold futures in New York for delivery in August, the most active contract, touched a high of $1,298.80, up more than 1% in heavy volume of more than 24m ounces, before pairing some gains in afternoon trade. Gold is up 12.8% so far i...Read More
BUENOS AIRES, June 6 (Reuters) - Argentina's 12-month inflation rate will be below 25 percent in May and fall to 21 percent or 22 percent by July, central bank President Federico Sturzenegger said on Tuesday. Government statistics agency Indec is expected to publish May inflation data on Thursday. Twelve-month inflation in April was 27.5 percent. The central bank is targeting inflation of 12-17 pe...Read More
* Former FBI director to testify before Congress on Thursday* UK election outcome, ECB meeting also on same day* Wal-Mart hit as Amazon discounts some Prime subscriptions* Indexes down: Dow 0.10 pct, S&P 0.13 pct, Nasdaq 0.06 pct (Updates to early afternoon)By Tanya AgrawalJune 6 (Reuters) - U.S. stocks were slightly lower in early afternoon trading on Tuesday as investors shunned riskier assets a...Read More
WASHINGTON, June 6 (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Tuesday that the Trump administration's approach to improving its economic relationship with China prioritizes specific issues rather than a bilateral investment agreement."I think what we're looking for is, opposed to just negotiating a large agreement, we're looking to negotiate very specific issues that deal with mark...Read More
By Bruno FederowskiSAO PAULO, June 6 (Reuters) - Yields on Brazilian interest rate futures contracts fell on Tuesday after the minutes from the central bank's latest policy meeting reaffirmed its intention of slowing down the pace of rate cuts next month.According to the meeting minutes released on Tuesday, the bank's growing uncertainty over President Michel Temer's reform agenda prompted policym...Read More
ALMATY, June 6 (Reuters) - Uzbekistan's upper chamber of parliament said on Tuesday it has appointed Mamarizo Nurmuratov new central bank chairman.Nurmuratov, who has until now chaired the Senate's budget and economic reforms committee, replaces Faizulla Mullajanov who died last month after serving as the central bank's head for 26 years. (Reporting by Olzhas Auyezov; Editing by Andrey Ostroukh)...Read More
Gold is breaking out of a six-year slump as investors search for safe havens during a period of global upheaval and bets that historically low U.S. interest rates will endure. After breaching a six-year downtrend line, gold is at the highest level since Nov. 4, and has advanced 12.7 percent this year. An uptick in bullion imports in China, as a hedge against currency risk, and a tepid pace of U.S....Read More
(Adds detail on capital outflows in last paragraph)By Dion RabouinNEW YORK, June 6 (Reuters) - Non-resident capital inflows to emerging markets should reach $970 billion this year, a 35 percent increase from 2016, the Institute of International Finance said in a report released on Tuesday.The projection follows a strong first quarter for emerging market investment that saw the strongest portfolio...Read More
* STOXX 600 down 0.7 pct* Roche falls as Aphinity study results disappoint* Vestas Wind jumps on new wind turbine launch* Stronger euro to weigh on European equities - MS (Adds closing prices)By Helen ReidLONDON, June 6 (Reuters) - European shares extended their fall on Tuesday, with healthcare stocks particularly weak, as a diplomatic spat in the Middle East weakened appetite for risky assets acr...Read More
By Marja NovakLJUBLJANA, June 6 (Reuters) - The Slovenian Fiscal Council, a body that advises the government on public finances, said the government should increase efforts to reduce public debt while the country enjoys strong economic growth.The Slovenian economy expanded rapidly after the country joined the European Union in 2004 and adopted the euro in 2007, but it was badly hit by the global f...Read More
BOGOTA, June 6 (Reuters) - Davivienda , Colombia's third-largest bank, will issue up to 700 billion pesos ($241.7 million) in bonds on the local market, the company said on Tuesday.The bank will first offer paper worth 500 billion pesos and then an additional 200 billion if there is sufficient demand, Davivienda said in a filing to the financial regulator.The bonds will come due in 3, 7 and 10 yea...Read More
BOGOTA, June 6 (Reuters) - Colombia's lower-than-expected May inflation figure opens the door for the central bank board to back a 50-basis-point rate cut at this month's meeting, analysts said on Tuesday.The government statistics agency said on Monday consumer prices were up 0.23 percent last month, taking twelve-month inflation to 4.37 percent, closer to the central bank's long-term target of 2...Read More
(Kitco News)- Renewedsafe-haven demand has helped generate strong momentum for gold as the markethas pushed through key levels, but more work needs to be done to confirm thelong-term uptrend, analysts say.Thelatest move in gold, which has pushed prices within striking distance of $1,300an ounce, started Friday following weaker-than-expected U.S. employment data.The report caused investors to shift...Read More
* Average German bond bought in May is loss making* To see a chart:* (Writes through)By Francesco Canepa and Balazs KoranyiFRANKFURT, June 6 (Reuters) - The European Central Bank bought a record proportion of loss-making German government bonds last month, data showed on Tuesday, in a sign it may be running out of positive-yielding paper to buy for its massive stimulus programme.The threat of loss...Read More
FRANKFURT, June 6 (Reuters) - Bayer AG said it was further reducing its stake in plastics and chemicals subsidiary Covestro from 53.3 percent, part of a plan to sever ownership ties completely over the medium term.As part of three separate transactions, the German drugmaker said on Tuesday it had started placing 1 billion euros ($1.1 billion) in Covestro shares on the open market in an accelerated...Read More