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) - Chile-focused copper miningcompany Antofagasta (ANTO:LSE) reported today that the group's copperproduction for the first nine months of the year (9M 2021) was 542,600 tonnes,0.2% higher than in the sam...Read More
On a higher timeframe basis: We held exhaustion below at$29,075-6,905 with a $28,800 low and bounced $36,100. I warned that holding theexhaustion area and settling back above the $30,205 low was an early warningthe macro move down from the high was likely over. The decenttrade back above $30,810 (-5 per/hour) has brought in $34,090 of the strengthwarned about above so far. The decent trade above $...Read More
* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates prices)MILAN, Oct 20 (Reuters) - German government bond yields edged lower on Wednesday, reversing direction after rising in early trade amid some concerns about potential monetary tightening by the European Central Bank.Market expectations for future interest rates do not square with the European Central Bank's guidance for no hi...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) - Russia's Nornickel, theworld's largest producer of palladium and high-grade nickel and a majorproducer of platinum and copper, announced today that in 9M 2021, its totalnickel output decreased 23% y-o-...Read More
(Reuters) - Shares of Novavax Inc fell 20% after a report from Politico said the company faces significant hurdles in proving it can manufacture its experimental COVID-19 vaccine that meets regulators' quality standards, resulting in production delays.The methods Novavax used to test the purity of its vaccine have fallen short of U.S. regulators' standards, according to the Politico report, citing...Read More
Oct 20 (Reuters) - The U.S. Forest Service on Wednesdayproposed banning mining in Minnesota's Boundary Waters regionfor 20 years, a step that would block Antofagasta Plc's Twin Metals copper and nickel mine project.The announcement, which reverses a decision by formerPresident Donald Trump, sets off a review process for how miningcould affect the region, a popular outdoor recreation area.While tha...Read More
Oct 20 (Reuters) - U.S. logistics technology firm Flock Freight said on Wednesday it had reached a valuation of more than $1 billion, after raising $215 million in a funding round led by SoftBank Vision Fund 2.New and existing investors including Susquehanna Private Equity Investments, Eden Global Partners, SignalFire and Alphabet Inc's (GOOGL.O) GV also participated in the funding round, the co...Read More
NEW YORK, Oct 20 (Reuters) - Oil prices edged higher on Wednesday, rebounding from early losses after U.S. crude stockpiles unexpectedly fell and inventories at the nation's largest storage site hit their lowest level in three years.Brent crude futures rose 26 cents, or 0.3%, to $85.35 a barrel as of 10:48 a.m. EDT (1448 GMT), lingering close to multi-year highs.November U.S. West Texas Intermedia...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 aresolidly higher near midday Wednesday. Concerns about rising inflation areprompting buying interest in the hard asset metals. Also, the technicalpostures for both precious me...Read More
HONG KONG (Reuters) -China Evergrande Group said on Wednesday a deal to sell a 50.1% stake in its property services unit has fallen through, delivering a blow to embattled developer's hopes of avoiding a potentially disruptive default.If it had gone through, the deal with a unit of Hopson Development to sell half of Evergrande Property Services would have been worth HK$20.04 billion ($2.58 billion...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 prices have pushed to new all-time highs tradingwell above $65,000 an ounce. According to some analysts, the rally in thedigital currency was spurred by the launch of the first Bitcoin ETF in t...Read More
LONDON (Reuters) - Bitcoin hovered just below its record highs on Wednesday and the first U.S. bitcoin futures-based exchange-traded fund (ETF) looked set to open firmer after surging on its debut on Tuesday.The world's leading cryptocurrency was at $64,257 at 1236 GMT, modestly higher on the day and within a short jump of the all-time high of $64,895.22 it hit on April 14 this year.It reached as...Read More
BEIJING (Reuters) - China's commodities markets tumbled on Wednesday, led by sharp falls in thermal coal prices, after the state planner said it was considering intervention to cool record prices of the fuel that is vital to power the world's second biggest economy.The slide in China had a knock-on effect in global markets, where prices of base metals used in manufacturing and construction, such a...Read More
Mr. David TerryreportsGENESIS METALS COMMENCES EXPLORATION WORK AT OCTOBER GOLD PROJECT, ONTARIOGenesis Metals Corp. has launched a multifaceted exploration program at its 100-per-cent-owned 26,430-hectare (264.3-square-kilometre) road-accessible October gold project in the Swayze greenstone belt, western Abitibi, Ontario.In order to advance exploration of the large, prospective and strategically...Read More
ROME (Reuters) -Italy's UniCredit, Intesa Sanpaolo and smaller Banca Ifis said on Wednesday they had joined the U.N. Net-Zero Banking Alliance (NZBA), a group of banks committed to reducing their carbon financing and investment portfolio by 2050.The alliance, launched in April, has almost 80 members from 35 countries, including Bank of America, Citigroup Morgan Stanley and JPMorgan. It has $54 tri...Read More
(Reuters) - U.S. online holiday spending is expected to grow at its slowest pace in at least eight years, as product shortages, higher prices and lingering pandemic-related uncertainties threaten to put a strain on the shopping season.Adobe Analytics forecast an average 10% growth or $207 billion in online sales in November and December, compared with a record 33% jump in 2020 when people chose to...Read More
WASHINGTON (Reuters) - U.S. Vice President Kamala Harris and Labor Secretary Marty Walsh on Wednesday will announce measures aimed at making it easier for unions to organize the country's more than 2 million federal workers.The moves will include directing federal agencies to inform job applicants and new employees about unions during the hiring and onboarding process. Unions will also be allowed...Read More
MILAN (Reuters) - Italy's Falck family of industrial magnates will receive 1.5 billion euros ($1.8 billion) from the sale of its controlling stake in Falck Renewables to a JPMorgan-owned infrastructure fund, the company said on Wednesday.The Falcks, who built their fortune in steel over the last century before switching to renewables in the late 1990s, are selling due to the investments and know-h...Read More
OTTAWA, Oct 20 (Reuters) - Canada's annual inflation rate accelerated to an 18-year-high in September, driven by rising transportation, shelter and food prices, data showed on Wednesday, putting the focus on the Bank of Canada ahead of a rate decision next week.Inflation increased to 4.4% in September, beating the average analyst estimate of 4.3%, to reach its fastest clip since February 2003, Sta...Read More
(Reuters) - Nasdaq Inc on Wednesday reported a third-quarter profit that topped Wall Street estimates, helped by strong demand for its investment-related products and a jump in the number of initial public offerings.While the transatlantic exchange operator is best known for its bourses, Nasdaq has tried to push into the anti-money laundering software sector and reposition itself as a leading fina...Read More