Oct 29 (Reuters) - UK shares tracked global markets lower on Friday, with anxiety over potential interest rate hikes and a slide in state-backed bank NatWest dragging the blue-chip FTSE 100 index.NatWest (NWG.L) fell 4.5% even though its profit tripled in the third quarter, as its margin contracted in a sign of how rock-bottom central bank rates have squeezed the income it can make from lending....Read More
ROME, Oct 29 (Reuters) - Finance and health ministers from the world's 20 biggest economies (G20) said on Friday they would take steps to ensure 70% of the world's population is vaccinated against COVID-19 by mid-2022 and created a task force to fight future pandemics.They could not reach agreement on a separate financing facility proposed by the United States and Indonesia, but said the task forc...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) -Yesterday, African Gold Group(TSX-V: AGG) announced that the Ministry of Environmental and SustainableDevelopment of the Republic of Mali has approved the Environmental and SocialImpact Assessment ("ESI...Read More
LONDON/LE HAVRE, France, Oct 29 (Reuters) - British Prime Minister Boris Johnson will meet French President Emmanuel Macron this weekend amid a row over post-Brexit fishing rights in which France has seized a British boat and London has threatened to board French trawlers.The flare-up is part of a wider dispute over post-Brexit trade arrangements between Britain and the European Union that could s...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) -Impala Platinum (JSE: IMP,Implats), a leading producer of platinum group metals, announced today that inSeptember quarter 2021, its total 6E PGM concentrate volumes decreased 6% to809,000 ounces, with a...Read More
Oct 29 (Reuters) - Shares of Meta Platforms Inc (FB.O) rose marginally in premarket trading on Friday after social media giant Facebook rebranded itself to build the "metaverse", a shared virtual environment.Chief Executive Officer Mark Zuckerberg said on Thursday the new name reflects the company's work invested in the metaverse, rather than its namesake social media service, which will continu...Read More
With themining complex attempting to create a sustainable bottom since the beginning ofQ4, the M&A space also began to perk up recently. Once the high-profile Agnico-Eagle/Kirkland Lake Gold"merger of equals" deal was announced at the tail-end of Q3, I suggested the possibility ofthese issues being related in my October 1stcolumn, along withsparking more M&A activity in the near-term.Into the endo...Read More
WASHINGTON (Reuters) - Federal Reserve Chair Jerome Powell, in a high-profile speech in August, outlined the arguments for why the current bout of high U.S. inflation will be "transitory," and moderate on its own over time.New data released on Friday show the jury is still out, with the personal consumption expenditures price index rising in September at a 4.4% annual rate versus 4.2% in August, c...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - According to data releasedtoday by Statistics Canada (StatCan), Canada's real gross domestic product(GDP) rose 0.4% in August, led by increases in accommodation and food services,retail trade and trans...Read More
Mr. Quentin Yarie reportsRED PINE ANNOUNCES UPSIZE TO PREVIOUSLY ANNOUNCED A BOUGHT DEALAPRIVATE PLACEMENT OF FLOW-THROUGH SHARES TO C$7.3 MILLIONRed Pine Exploration Inc. has amended the terms of its previously announced bought deal private placement to increase the size of the offering to $7.3-million.Under the terms of the upsized offering, Haywood Securities Inc., as sole underwriter and bookr...Read More
(Reuters) -Alibaba-backed Best Inc said on Friday it would sell its express delivery business in China to J&T Express Co. Ltd in a deal valued at about 6.8 billion yuan ($1.06 billion), including debt, sending its shares up 22% before the bell.Shares of New York-listed Best were set to open at $2.58, their highest level since February. They have risen 3.4% this year.Best said the sale does not inc...Read More
WASHINGTON, Oct 29 (Reuters) - U.S. labor costs increased by the most since 2001 as companies boosted wages and benefits amid a severe worker shortage, suggesting inflation could remain high for sometime.The Employment Cost Index, the broadest measure of labor costs, surged 1.3% last quarter after rising 0.7% in the April-June period, the Labor Department said on Friday. The largest gain since 200...Read More
Oct 29 (Reuters) - Exxon Mobil (XOM.N) on Friday pledged to revive a share repurchase program next year as its earnings outlook improved on quarterly results that topped analysts' estimates.The largest U.S. oil producer posted an adjusted profit of $1.58 a share, beating the Refinitiv estimate by two cents, with results lifted by oil and gas prices that have more than doubled in the past year.Th...Read More
OSLO, Oct 29 (Reuters) - Equinor plans to invest 25-35 billion Norwegian crowns ($3-$4.2 billion) to develop the so-called NOAKA oil and gas fields with partners in the North Sea, it said on Friday.The NOAKA (North of Alvheim Krafla Askja) project is set to come on stream in 2027 and would become the largest oil and gas development off the coast of Norway since 2019, when Equinor's giant Johan Sve...Read More
OTTAWA, Oct 29 (Reuters) - The Canadian economy most likely underperformed in the third quarter, official data suggested on Friday, prompting analysts to forecast the Bank of Canada might raise interest rates more slowly than expected.The economy expanded by 0.4% in August and looked set to show no growth in September, when supply chain issues hit auto exports, Statistics Canada said.Third quarter...Read More
OUAGADOUGOU, Oct 29 (Reuters) - Several people are missingafter a convoy belonging to Canadian mining company Iamgold was attacked in northern Burkina Faso on Friday, twosecurity sources said.The vehicles carrying Iamgold employees came under attack onthe road between Dori and Essakane, where the company has itsbiggest operating mine. Another Iamgold convoy was attacked onits way to Essakane in Se...Read More
An anonymous director reportsGOLDMINING COMPLETES US$20 MILLION NON-DILUTIVE FACILITY WITH BANK OF MONTREAL Further to its news release dated Oct. 21, 2021, Goldmining Inc. has entered into and closed an agreement for a $20-million (U.S.) loan facility with Bank of Montreal. The facility is available for general corporate purposes, acquisitions and to continue to advance company projects, includin...Read More
Oct 29 (Reuters) - Real estate services company Cushman & Wakefield said on Friday it had invested $150 million in newly listed office sharing firm WeWork Inc. (Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta) 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 accura...Read More
WASHINGTON (Reuters) - U.S. consumer spending increased solidly in September, but was partly flattered by higher prices as inflation remained hot amid shortages of motor vehicles and other goods in the face of global supply constraints.The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.6% last month. Data for Aug...Read More
Markets are always achallenge and never make it easy. Day traders get tortured by price action likewe have seen the past few days in Gold, Silver, and Platinum. For the fifth dayin a row, the metals looked poised to run and failed miserably.This type of trade toyswith emotions, and too many traders are too emotional. Anytime money isinvolved, emotions run high on both sides but especially when los...Read More