The Tuesday Market Minute Global stocks steady as trade war goes quiet during overnight session.Mixed messages on trade from the White House keep dollar assets on the back foot.Asia shares mixed, but gains only modest as investors wait for next round of tit-for-tat tariffs.China's Shanghai Composite slumps into bear market territory as stocks hit a two-year low.Oil markets little changed as...Read More
FRANKFURT, June 26 (Reuters) - The euro zone remains on track for solid and broad based growth, raising confidence that inflation will continue to rise, European Central Bank Vice President Luis de Guindos said on Tuesday in his first speech since taking office on June 1.“Downside risks to the outlook stem from the threat of increased protectionism, rising oil prices and its impact on inflat...Read More
The Colomac Project exploration camp in the Northwest Territories. Photo courtesy Nighthawk Gold Corp.Nighthawk Gold Corp. [NHK-TSXV, OTC-MIMZF] on Tuesday June 26 announced drilling results from the North Inca gold deposit in the Northwest Territories.North Inca is one of four gold deposits located within the company's Leta Arm gold project. It straddles a well-mineralized deformation zone that i...Read More
DUBLIN (Reuters) - The recent imposition of import duties by the U.S. and counter-measures by other countries have come at a “frustrating moment” when policymakers should be working on longer term issues, the head of the International Monetary Fund said on Tuesday.The IMF warned earlier this month that U.S. President Donald Trump’s protectionist trade policies, including the impo...Read More
BEIJING (Reuters) - China will remove import tariffs on animal feed ingredients including soybeans, soymeal and rapeseed from five Asian countries, the Ministry of Finance said on Tuesday, a sign Beijing is seeking alternative supplies of the commodities as a trade dispute escalates with the United States.China will drop tariffs on soybeans, soymeal, soybean cake, rapeseed and fishmeal originating...Read More
(Reuters) - U.S. stock index futures were largely flat on Tuesday, a day after the S&P 500 posted its steepest one-day loss since early April on fears of a spiraling trade spat between the United States and other major economies.Traders kept a close eye on General Electric (GE.N), which on Tuesday announced plans to spin off its healthcare business and divest its stake in oil-services company...Read More
Nevsun's Timok copper-gold project in Serbia. Source: Nevsun Resources Ltd.Nevsun Resources Ltd. [NSU-TSX; NYSE American], the target of a takeover proposal by Euro Sun Mining Inc. [ESM-TSX, CPNFF-OTC] and Lundin Mining Corp. [LUN-TSX; LUMI-Sweden], on Tuesday June 26 announced the initial resource for the Lower Zone deposit at its Timok copper-gold project in Serbia.With this news now out in the...Read More
NEW YORK, June 25 (Reuters) - Gold-backed exchange-traded funds (ETF) tracked by Thomson Reuters were headed for their weakest month since July 2017, as investors covered losses in equities, commodities and other markets caused by tariff disputes.Gold, typically seen as a safe store of value during times of geopolitical and economic uncertainty, has failed to profit from recent trade disputes betw...Read More
LONDON, June 26 (Reuters) - Fixed income managers globally expect benchmark U.S. Treasury yields to rise faster than had been anticipated a few months ago, accompanied by rate hikes from the U.S. Federal Reserve, a Russell Investments survey on Tuesday showed.Ten-year U.S. Treasury yields are forecast to rise to 3.28 percent over the next 12 months, a Q2 survey from the asset management firm showe...Read More
Comex copper prices traded at the lowest point since March 2018 on Tuesday June 26 with threats of a growing trade war weighing on the metals complex. Copper for July settlement on the Comex division of the New York Mercantile Exchange inched down 0.40 cents or 0.1% to $2.9830 per lb. Earlier, the contract touched $2.9795, the lowest since March 26. "Copper has slipped since mid-June due to growin...Read More
Global markets stabilized on the morning of Tuesday June 26 amid easing trade tensions, while three-month base metals prices on the London Metal Exchange consolidated after their weakness on Monday.Copper, nickel and zinc were all up by 0.2%, lead was unchanged, while aluminium and lead were the stragglers - down by 0.1% and 0.3% respectively. On an average basis, the base metals were unchanged th...Read More
Some of the most active companies traded Tuesday on the Toronto Stock Exchange:Toronto Stock Exchange (16,280.09, up 96.13 points)Aurora Cannabis Inc. (TSX:ACB). Health care. Down 26 cents, or 2.68 per cent, to $9.43 on 9.9 million shares. The medical marijuana producer has signed a loan deal with the Bank of Montreal (TSX:BMO). Bank. Down 16 cents, or 0.16 per cent, to $101.91 on 1.7 million sh...Read More
(Reuters) - Facebook Inc on Tuesday decided to allow certain ads promoting cryptocurrency and related content from pre-approved advertisers, but would continue its ban on those tied to binary options and initial coin offerings.Facebook had in January banned ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices."We will li...Read More
Cobalt prices drifted lower again last week in thin trading conditions, with buyers continuing to secure their minimum required volumes, or postponing purchases in a falling market. Low-grade cobalt and high-grade cobalt prices were assessed at $40.35-41.25 per lb, in-warehouse on Friday June 22, down 0.6% and 0.9% respectively over the course of the week. Spot activity has been limited since May...Read More
Oil Surges: WTI at $68, Brent Hits $74.52The Wall Street Journal is reporting an OPEC oil production boost:OPEC ministers tentatively agreed to a deal to join other big producers in adding around 600,000 barrels a day of oil to global markets, according to people familiar with the matter.The agreement is in principle only and involves so-called effective barrels-or "real" barrels that will actuall...Read More
NEW YORK (Reuters) - U.S. stocks rose on Tuesday as gains in the technology and energy sectors helped Wall Street recover from a sharp sell-off a day earlier on spiraling global trade tensions.Technology stocks .SPLRCT added the most gains to the S&P 500 after having slid on Monday upon conflicting statements from Trump administration officials on restrictions on foreign investment in U.S. tec...Read More
Rise Gold Corp. (CSE: RISE, OTCQB: RYES) owns 100% of the major past-producing, high-grade Idaho-Maryland gold mine, located in Nevada County, California, USA. The Idaho-Maryland Gold Mine is one of the United States' greatest past producing gold mines, with total past production of 2,414,000 oz. of gold at an average mill head grade of 17 gpt gold from 1866-1955. We learned from Ben Mossman,Presi...Read More
NEW YORK (Reuters) - The U.S. government on Tuesday criminally charged a Standard & Poor's credit ratings analyst and two friends, all from Manhattan, with insider trading related to Sherwin-Williams Co's $9.3 billion purchase of Valspar Corp.According to prosecutors, the analyst Sebastian Pinto-Thomaz, 32, tipped Abell Oujaddou and Jeremy Millul in early March 2016 about the impending transac...Read More
SAN FRANCISCO (Reuters) - The San Francisco Federal Reserve Bank is aiming to have a list of 10 candidates for its new president by the end of summer and a pick in place by fall, the search committee’s chair told community activists in a private meeting on Monday.A San Francisco Fed spokesman confirmed the timeline to Reuters.The meeting was one of several the bank’s search committee h...Read More
WASHINGTON (Reuters) - The Republican-controlled U.S. Congress, riddled by factional infighting, looks unlikely to act decisively this week on the immigration crisis at the U.S.-Mexico border, providing few answers on what comes next for separated parents and children.President Donald Trump’s abrupt order last week to end his policy of breaking up families at the border failed to explain how...Read More