(adds quotes from Rieder, market action)By Trevor HunnicuttNEW YORK, Feb 27 (Reuters) - The Federal Reserve is in no rush to hike rates, creating an opportunity for risk assets but posing a threat to long-term bonds, top BlackRock Inc portfolio manager Rick Rieder said on Tuesday.Fed Chairman Jerome Powell on Tuesday vowed to prevent the economy overheating while sticking with a plan to gradually...Read More
Tungsten miner W Resources has agreed offtakes for tungsten concentrate produced at its La Parrilla mine in Spain. From early 2019, W Resources will supply 66% WO3 tungsten concentrate to Wolfram Bergbau und H? 1/4 tten and a "leading supplier to the USA tungsten markets," W Resources said. The offtake agreements will account for around 80% of output from the T2 production phase at La Parrilla, an...Read More
(Repeats to add story link with no change to text)By Fergal SmithOTTAWA, Feb 27 (Reuters) - Canada is cutting down issuance of bonds in the 2018-19 fiscal year by 17 percent as the government runs a smaller budget deficit and market participants demand greater supply of more liquid T-bills.Bond issuance had increased by as much as 48 percent since 2015-16 as the Liberal government under Prime Min...Read More
RAPAPORT... Revenue from the retail division of Warren Buffett's Berkshire Hathaway slipped0.2% to $15.06 billion last year, the company reported Saturday.The decline in the segment, which includes jewelry chains Borsheims, Helzberg Diamonds and Ben Bridge Jeweler, stemmed primarily from the automotive sector. Excluding the car business, retail sales - including at those jewelers - increased 1.7%....Read More
MEXICO CITY, Feb 27 (Reuters) - Mexican bottler and retailer Fomento Economico Mexicano (Femsa) on Tuesday said net profit fell more than 70 percent in the fourth quarter, hit by the revaluation of assets in its Venezuelan Coca-Cola bottling operation.Net profit in the October to December period was more than 1.83 billion pesos ($93 million), down from nearly 6.7 billion pesos in the same period o...Read More
The import markets for flat steel products in South American countries were very muted this month because of the Chinese new year holiday, which took place February 15-21.The lack of trading has prevented import values from showing any major changes in the past few weeks, but prices are expected to rise in late February/early March with the arrival of fresh China-origin offers in the market.The la...Read More
In his first testimony to the Congress, Jerome Powell, the newly appointed chairman of the Federal Reserve, said that the economy was in fact normalizing. As such, he made it clear that in next month’s FOMC meeting each member will reevaluate the current monetary policy as it reflects upon the number of interest rate hikes this year.In other words, now that our economy is becoming more robus...Read More
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Feb 28 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 6,056.90014.723NZX 50**8,356.37 -4.01DJIA**25,410.03-299.24 NIKKEI**22,389.86236.23Nasdaq**7,330.354-91.11FTSE**7,282.45 -7.13S&P 500** 2,744.28 -35.32Hang Seng** 31,268.66-229.94SPI 200 Fut 6,001-35.00STI** 3,540.39 -15.46SSEC**3,291.5253 -38.05KOSPI** 2,456.14 -1.51-------------------------------------------------...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Turkish scrap import prices continued to climb on Tuesday February 27 with news of another Baltic Sea cargo sold at the end of last week.Market participants, however, expected prices to go up even further, while suppliers have already increased their offers, Metal Bulletin was told.A steel mill in the Izmir region booked the Baltic Sea cargo late on February 23, comprising 28,000 tonnes of HMS 1&2...Read More
Stocks, dollar trumped Section 232 last...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue a...Read More
SHANGHAI, Feb 28 (SMM) - China’s official manufacturing purchasing managers’ index (PMI) stood at 50.3 in February, down from 51.3 in January, according to data released by the National Bureau of Statistics on Wednesday February 28. The country’s non-manufacturing PMI this month stood at 54.4, down from 55.3 in January. For editorial queries, please contact Daisy Tseng...Read More
(Kitco News) - Upbeat comments on the U.S. economy from new Fed Chair Jerome Powell is dragging gold prices down to a two-week low.While markets saw little reaction to Powell’s opening remarks, which some economists deemed hawkish, they are reacting to comments during the question and answer portion of the hearing. Both gold and equities have lost ground following Powell’s optimistic o...Read More
Stephen Van Deventer, chairman and CEO of PreveCeutical Medical Inc (CSE: PREV, OTCQB: PRVCF) and chief research officer Dr Harry Parekh discuss with Proactive the health sciences specialist's four exciting programmes.Their most advanced is centred around Cannabidiol (CBD) - a non-psychoactive compound found in the cannabis plant and is now widely used to treat chronic pain, multiple sclerosis and...Read More
SHANGHAI, Feb 28 (SMM) - China’s official manufacturing purchasing managers’ index (PMI) stood at 50.3 in February, down from 51.3 in January, according to data released by the National Bureau of Statistics on Wednesday February 28. The country’s non-manufacturing PMI this month stood at 54.4, down from 55.3 in January. For editorial queries, please contact Daisy Tseng...Read More
Feb 28 (Reuters) - Australian shares are seen opening lower on Wednesday following a weak lead from Wall Street overnight, and as material and energy stocks may face some pressure from falling iron ore and oil prices.The local share price index futures fell 0.6 percent, or 35 points to 6,001, a 55.9-point discount to the underlying S&P/ASX 200 index close. The benchmark closed 0.2 percent lowe...Read More
SHANGHAI, Feb 28 (SMM) - China’s official manufacturing purchasing managers’ index (PMI) stood at 50.3 in February, down from 51.3 in January, according to data released by the National Bureau of Statistics on Wednesday February 28. The country’s non-manufacturing PMI this month stood at 54.4, down from 55.3 in January. For editorial queries, please contact Daisy Tseng...Read More
Aluminium Aluminium has been on the defensive after support from...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus do...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening comments. Investors are awaiting Federal Reserve Chairman Jerome Powell's testimony on monetary policy to be made at 10:00 AM EST.Index futures moved lower following release of economic news released at 8:30 AM EST. Chairman Powell's initial comments were released. In addition, the January Dura...Read More