* Graphic: Sterling and gilt yields * Graphic: World FX rates in 2017 * Graphic: Trade-weighted sterling since Brexit vote (re-leads, updates prices)By Ritvik Carvalho and Jemima KellyLONDON, June 5 (Reuters) - Sterling rose to its highest in ten days against the dollar on Monday, with investors taking comfort from a opinion poll that gave Britain's ruling Conservative Party a comfortable lead ahe...Read More
MOSCOW -- Polyus PJSC, Russia's largest gold producer, announced a return Monday to the London Stock Exchange following a two-year hiatus. The company said the offering would comprise at least 7% of its issued share capital. Polyus has a market capitalization of $9.9 billion on the Moscow Exchange. The company delisted in 2015 to ensure its eligibility to bid for the Sukhoi Log deposit, one of the...Read More
The Dow Jones, S&P 500 and Nasdaq closed at record highs on Friday despite signs that US jobs growth is slowing down and that expansion of the world's largest economy remains stuck around the 1% level."Following the notion of mean reversion, we should be seeing attractive investment opportunities"In contrast the S&P GSCI All Commodities index is flat so far in 2017 although prices for energy, m...Read More
The Dow Jones, S&P 500 and Nasdaq closed at record highs on Friday despite signs that US jobs growth is slowing down and that expansion of the world's largest economy remains stuck around the 1% level."Following the notion of mean reversion, we should be seeing attractive investment opportunities"In contrast the S&P GSCI All Commodities index is flat so far in 2017 although prices for energy, m...Read More
* Herbalife falls after cutting current-quarter forecast* Apple slips after rating cut; top drag on all three indexes* Oil prices fall after Arab states cut ties with Qatar* Indexes down: Dow 0.02 pct, S&P 0.07 pct, Nasdaq 0.13 pct (Updates to early afternoon)By Tanya AgrawalJune 5 (Reuters) - Wall Street edged lower in early afternoon trading on Monday as Apple weighed on all the three major inde...Read More
(Kitco News) - Gold prices were ending the U.S. day session modestly higher and hit a six-week high Monday. Geopolitical developments in the Middle East and an increasingly bullish near-term technical posture are prompting trader and investor buying interest. Gold prices are now within striking distance of the key $1,300.00 mark. August Comex gold was last up $1.70 an ounce at $1,281.90. July Come...Read More
BERLIN, June 5 (Reuters) - International Monetary Fund Managing Director Christine Lagarde has offered Greece's European creditors a way out of their impasse over Athens' debts that would allow the euro zone to release a tranche of aid later this month.The IMF believes Greece needs a debt haircut, which Germany rejects. Lagarde suggested agreeing a deal whereby the IMF would stay on board in the b...Read More
CAIRO, June 5 (Reuters) - The Central Bank of Egypt said on Monday that it had issued no instructions to halt the buying or selling of the Qatari riyal.There would be no restrictions on exchanging the Qatari currency to Egyptian pounds or any foreign currencies, the bank said in a statement.Egypt was one of four Arab nations to cut diplomatic ties with Qatar on Monday, along with Saudi Arabia, Uni...Read More
Decline, Deterioration, and Bear WarningsBy Dennis SlothowerWritten Saturday, June 3, 2017Trump Rejects Climate PactThe stock market responded favorably to the President's announcement that the United States will be pulling out of the Paris Climate Pact that benefits countries like China and India at the expense of the U.S.Whether you agree or disagree with the President's decision, the financial...Read More
* LME/ShFE arb: (Adds closing prices)By Maytaal AngelLONDON, June 5 (Reuters) - Copper fell on Monday, extending last month's losses, as the dollar recovered and investors eyed an increase in Shanghai inventories, while zinc tracked renewed weakness in steel markets.Data on Friday showed copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 4.9 percent on the week, marki...Read More
Where Will The Big Money Be Made? There are some conclusions here we do not agree with. But SRSrocco does fine work, and since we are in data intake mode ourselves, all ideas must be noted, and many of the ones here are good. Notably the energy costs for mining these crpyto's and how that affects their scalability. One other thing, the author is on board identifying that these are not 'safety...Read More
(Rewrites after share price jump, adds context)By Nicole MordantJune 5 (Reuters) - Canada's Osisko Gold Royalties Ltd said on Monday it had agreed to buy a precious metals portfolio from U.S. private equity firm Orion Mine Finance Group for C$1.13 billion ($839.40 million), sending its shares up 10 percent. The transaction is "transformative" for Quebec-based Osisko as it increases its portfolio...Read More
(Corrects to clarify 20 million pounds will be the proceeds from new shares issued)June 5 (Reuters) - * DP Eurasia intention to float on London Stock Exchange* DP Eurasia says expects to have free float of not less than 50 percent* DP Eurasia says to raise proceeds of around 20 million pounds from the issue of new shares, on top of selling some of the shares held by existing shareholdersSource te...Read More
Last week index score: 73.35This week: 37.34Prospero Silver (TSXV: PSL) provided an update on planned drilling of the Matorral, Petate and Pachuca SE projects in Mexico.Zinc One Resources (TSXV: Z) completed the acquisition of Forrester Metals.The Oreninc Index plummeted in the week ending June 1st, 2017 to 37.34 from 73.35 in what was another volatile week for gold.Total raises announced fell to...Read More
(Recasts, new throughout with further estimates, comments)SANTIAGO, June 5 (Reuters) - Chile's central bank cut its 2017 growth forecast to between 1 and 1.75 percent from its previous view of 1 percent to 2 percent as the mining and construction sectors continue to lag, the bank said Monday.The bank also said it was "most probable" that, following rate cuts of 100 basis points this year, further...Read More
Both long-maturity bonds and gold have performed exceptionally well this year, but gold is generally viewed as an inflation hedge while bonds are viewed as a deflation hedge.As such, there appears to be a disconnect between gold, bonds, and the overall economy. Either the strength in gold or bonds could be on weak support.Economic statistics suggest that, between gold and long-maturity bonds, gold...Read More
* Oil falls as Qatar rift threatens output cuts* Sterling recovers as investors focus on election* Wall Street stocks dip after falls in oil, European market* Thursday's ECB meeting keeps lid on euro zone bond yields* Gold hits six-week high after Friday's U.S. jobs report* Graphic: World FX rates in 2017 (Changes dateline to New York; adds Wall Street open; updates throughout)By Hilary RussNEW YO...Read More
Muddy Waters is using outdated information and "dubious drone technology" as the basis for its decision to short Asanko Gold Inc.'s stock, with the sole goal of trying to make the shares worthless, the Canadian miner's chief executive officer said.The activist short-seller Muddy Waters, founded by Carson Block, issued a report last week saying it was shorting Asanko, which it believes is "highly l...Read More
(Adds Fairfax to also sell shares in IPO)June 5 (Reuters) - India's ICICI Bank Ltd and Canada's Fairfax Financial Holdings Ltd will pare their stakes in joint venture insurer ICICI Lombard General Insurance Co Ltd's planned initial public offering (IPO) of shares, the insurer said on Monday.While the size and other details of the IPO will be decided at a future date, ICICI Lombard said the two sh...Read More
* Herbalife falls after cutting current-quarter forecast* Apple slips after rating cut; top drag on all three indexes* Oil prices fall after Arab states cut ties with Qatar* Indexes down: Dow 0.01 pct, S&P 0.05 pct, Nasdaq 0.07 pct (Adds details, changes comment, updates prices)By Tanya AgrawalJune 5 (Reuters) - Wall Street was slightly lower in late morning trading on Monday as Apple dragged down...Read More