LONDON, Oct 26 (Reuters) - Sterling touched a new 20-month high against the euro on Tuesday, driven by diverging interest rate expectations for Britain and the euro zone, though concerns over economic growth and EU ties kept the currency broadly flat on the day.Money markets are pricing in a rate hike by the Bank of England at its Nov. 4 meeting, helping the pound rally around 2% versus the euro a...Read More
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* STOXX 600 hits 7-week high* Reckitt soars on forecast lift* Logitech slides after results (Adds comment, updates prices)Oct 26 (Reuters) - European stocks hit seven-week highs on Tuesday, as strong results from UBS, Reckitt Benckiser and others added to overall optimism about the third-qua...Read More
BEIJING, Oct 26 (Reuters) - China's state planner and foreign exchange regulator met with companies in key sectors on Tuesday over their foreign debt holdings, the National Development and Reform Commission (NDRC) said amid ongoing investor concerns over the debt of property developers including China Evergrande Group.The regulators asked the unnamed companies to optimise their foreign debt struct...Read More
(Reuters) -Credit reporting agency TransUnion said on Tuesday it will sell its unit TransUnion Healthcare to private equity firm Clearlake Capital Group-backed nThrive Inc in a $1.74 billion all-cash deal.The deal, which is expected to close in the fourth quarter this year, will let TransUnion focus on its core businesses of credit, marketing and fraud mitigation solutions, the company said.Chicag...Read More
BENGALURU, Oct 26 (Reuters) - Indian shares rose on Tuesday in a volatile session, led by gains in metal and auto stocks, with investors focusing on commentaries from companies over the impact of higher input costs on margins in an earnings-heavy week.The blue-chip NSE Nifty 50 index (.NSEI) ended up 0.8% at 18,268.40, while the benchmark S&P BSE Sensex (.BSESN) rose 0.63% to 61,350.26.The...Read More
(Adds details and background)LONDON, Oct 26 (Reuters) - The British public's expectations for inflation over the next year jumped to the highest since 2008 this month, bank Citi said on Tuesday, something the Bank of England will note as it meets to decide whether to raise interest rates next week.Expectations for inflation over the next 12 months rose to 4.4% in October from 4.1% in September, Ci...Read More
(Reuters) - THG announced changes to its board on Tuesday and published growth figures for its Ingenuity technology unit, as it sought to repair its image among investors concerned about transparency at the British e-commerce group.THG named an executive from backer SoftBank to its board and said it had begun seeking an independent chair to prepare for a planned premium listing on the London Stock...Read More
NEW DELHI (Reuters) - An Indian court on Tuesday temporarily restrained Zee Entertainment Enterprises' top investor Invesco from calling a shareholder meeting, in a win for the TV network that sent its shares higher.U.S. investment firm Invesco, which owns nearly 18% of Zee via two funds, wanted an extraordinary general meeting (EGM) of shareholders in a bid to oust the Indian company's CEO Punit...Read More
LONDON, Oct 26 (Reuters) - British retailers reported a stronger-than-expected sales rise in October after a September slowdown but global supply chain problems reduced their stocks to the lowest level since records began in 1985, the Confederation of British Industry said.The CBI's monthly distributive trade survey showed the headline sales balance for retailers picked up to +30 in October from +...Read More
FRANKFURT, Oct 26 (Reuters) - Euro zone banks tightened access to mortgages in the three months to September and expect to continue doing so in the final quarter of the year, a European Central Bank survey showed on Tuesday.ECB policymakers are set to take stock of the economic situation at a meeting on Thursday, paving the way for a decision in December on the future of the central bank's bond-bu...Read More
LONDON, Oct 26 (Reuters) - Full-time earnings in Britain rose by the most since 2008 in April, up by 4.3% from a year earlier, although the government's furlough scheme and other distortions related to COVID-19 probably pushed up growth, official data showed on Tuesday.The Office for National Statistics' annual earnings survey is normally the gold standard of British labour market data, covering m...Read More
BERLIN (Reuters) - The German government has cut its economic growth forecast for this year to 2.6%, but lifted its estimate for next year to 4.1% as supply problems are delaying the recovery in Europe's largest economy, two sources familiar with the decision said on Tuesday.The revised government forecast for gross domestic product growth compares with an April prediction for the economy to grow...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) - Gold and silver prices area bit weaker in early U.S. trading Tuesday, on some normal backing and fillingon the charts following recent gains. Both metals' bulls are comfortable atpresent, as near-term...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) - Bitcoin-U.S. dollar are abit weaker in early U.S. trading Tuesday. The market is now seeing some routine"backing and filling" in an existing uptrend. The Bitcoin bulls still have the solidoverall near-...Read More
SINGAPORE/LISBON (Reuters) -Energias de Portugal is in advanced talks to buy a majority stake in Sunseap Group in a deal that will value the Southeast Asian renewables company at around S$1 billion ($742 million) and involve substantial investments in the business, three sources with knowledge of the matter said on Tuesday.EDP Renovaveis (EDPR), 75% owned by EDP, Portugal's biggest utility, is in...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) - Investment bank Citi says it is still sticking with the 'shortgold' as appropriate pain trade over medium-term. Analysts at the banknote, that being short gold is the appropriate 'pain trade' despite"t...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) - Now that we had some kind of decent recovery in the silver priceit will be important to look at retracement levels and potential resistancezones. The support levels look important because the price loo...Read More
Mr. Carl Lofberg reportsFIREFOX GOLD IDENTIFIES NEW DRILL TARGETS AT UTSAMO AREA, JEESIO GOLD PROJECT, FINLANDFirefox Gold Corp. has provided the results of its recently completed base-of-till (BOT) sampling program at the Utsamo prospect in the northeast part of the company's 100-per-cent-owned Jeesio gold project. The data include strong gold and multielement anomalies associated with multiple i...Read More
Oct 26 (Reuters) - South Africa's Sibanye Stillwater said on Tuesday it would buy Santa Rita nickel mine andSerrote copper mine in Brazil for $1 billion, in what will beits biggest investment in the battery metals sector.The precious metals miner said it had signed agreements withaffiliates of funds advised by Appian Capital Advisory to buyboth the mines for a cash consideration and a 5% net smelt...Read More
Bob Moriarty ArchivesOct 26, 2021I have been pounding the table for the best part of three weeks about us having hit at least a tradeable low in gold and silver at the end of September. Relative to the S&P or the commodities index the price of gold or gold shares is at the lowest it has been in many years. You are at the point where risk is the least. So while this article is about one specifi...Read More