(Reuters) -United Parcel Service Inc reported better-than-expected quarterly earnings and revenue on Tuesday, bolstered by strong e-commerce demand that has allowed the delivery giant to raise shipping prices and cherry-pick more profitable customers.The Atlanta-based firm also raised its full-year adjusted operating margin outlook to about 13% from about 12.7%, a month after rival FedEx Corp cut...Read More
(Kitco News) Gold was trading down 1% on the day as the U.S. new home sales beat expectations in September with an advance of 14%. The prior month's number was revised down. New home sales were at a seasonally adjusted annualized rate of 800,000 homes in September, the U.S. Commerce Department said on Tuesday. August's sales were revised down to a rate of 702,000 units.The market consensus calle...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 prices continue to struggle to find new bullish momentum, falling further below $1,800 an ounce as optimism among U.S. consumers rises higher than expected in October.Tuesday, the U.S. Conference B...Read More
ATHENS, Oct 26 (Reuters) - Macquarie Asset Management is in for the long haul with its planned investment in Greek power grid operator HEDNO, a senior executive at the investment manager told Reuters, pointing to the opportunity presented by the electrification of the Greek economy.Public Power Corp (PPC), Greece's biggest power utility, said last week it had agreed to sell 49% of fully-owned powe...Read More
BOGOTA, Oct 26 (Reuters) - AngloGold Ashanti Ltd's Quebradona copper project in Colombia will be delayed by theshelving of an environmental permissioning process, a companyspokesperson said on Tuesday.Colombia's environmental licensing authority announced thedecision to shelve the request - rather than accept or reject it- on Monday. The company needs to be officially notified of a decision soit c...Read More
Oct 26 (Reuters) - With oil and gas prices at multi-year highs, U.S. shale producers are poised to deliver the strongest earnings since the onset of the coronavirus pandemic, so long as they didn't lock in sales tied to much lower prices.Sky-high oil and gas prices will fill energy companies' bottom line, rewarding investors who hung on through the pandemic. U.S. crude averaged roughly $71 a barre...Read More
BEIJING, Oct 26 (Reuters) - Debt-laden real estate developer China Evergrande Group (3333.HK) has resumed construction on 40 projects in the Pearl River Delta region and expects to deliver 32 of them on time by the end of 2021, local media reported on Tuesday.Evergrande did not immediately respond to a request for comment on the reports in various media, including the Southern Metropolis Daily n...Read More
Mr. Eric Fier reportsSILVERCREST LAS CHISPAS PROJECT CONSTRUCTION REMAINS ON SCHEDULE AND BUDGETSilvercrest Metals Inc. has provided an update on construction activities at the company's Las Chispas project, located in Sonora, Mexico. All currency amounts herein are presented in United States Dollars, unless otherwise stated. Highlights Construction Remains on Schedule {ౢ –} At...Read More
Monday wasa solid day of gains for gold, silver, and platinum; however, none reachedtheir key resistance levels. The patterns are setting up nicely and we wouldconsider step one completed. For therally to continue, we must reach the levels of resistance, which are $25 forsilver, $1,820 for gold based on December futures. For January platinum,resistance is at $1080. Obviously, that means they are h...Read More
By Mark JohnLONDON, Oct 26 (Reuters) - Australian mining billionaireAndrew Forrest called ahead of next week's COP26 climate talksfor governments to ensure massive existing subsidies for fossilfuels did not undermine the drive for clean alternatives such asgreen hydrogen.Forrest, whose Fortescue Metals Group aims tobecome carbon-neutral by 2030, has been travelling the world topromote green hydrog...Read More
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