CAT and UTX are just two Dow components trading higher after earningsA round of well-received corporate earnings reports has the U.S. stock market signaling a positive start. Pre-market gains for blue chips Caterpillar (CAT), Verizon Communications (VZ), and United Technologies (UTX) have Dow Jones Industrial Average (DJI) futures trading well above fair value, while the S&P 500 Index (SPX) and Na...Read More
SANTIAGO, April 23 (Reuters) - Chilean industrial conglomerate Empresas Copec SA said on Monday it had reached an agreement with Peru's Minsur S.A. to buy a 40 percent stake in a holding company that owns a Peruvian copper mine project for $168.5 million.Minsur will retain 60 percent ownership in Cumbres Andinas S.A., the company that controls the Mina Justa project, Santiago-based Copec said in a...Read More
A steep decline in the The S&P 500 Tuesday is giving new life into gold Continue...Read More
WINDHOEK, April 24 (Reuters) - Diamond and uranium producer Namibia may scrap requirements for black ownership in the mining sector as it seeks to woo investors to an industry that is rebounding with the commodities cycle, its new mines minister said on Tuesday.Regional peers such as Angola and Zimbabwe are also trying to kickstart their mining sectors by easing investment rules at a time when oth...Read More
Prices for domestic steel rebar in the United Arab Emirates and Saudi Arabia were stable this week, although demand was not strong, sources told Metal Bulletin on Tuesday April 24.And demand for imported rebar in both countries remained almost non-existent.Domestic rebarThe major rebar producers in the UAE announced their current prices on March 26.The biggest steel producer, Emirates Steel, is of...Read More
The broad-market tracker is staring up at a $25 trillion market cap, among other key technical levelsIt's been a lengthy sideways chop for the S&P 500 Index (SPX) since the Jan. 26 all-time closing high of 2,872.87 -- with emphasis resting on the "chop" more so than the "sideways," given the high-volatility gaps and swings that have characterized the last few months of broad-market equity action....Read More
LONDON (Reuters) - The euro nursed losses at a two-month low on Tuesday on growing concerns that firmer U.S. Treasury yields would reduce incremental demand for the region’s bonds and stocks at a time when hedge funds have amassed record long bets in the single currency.The U.S. 10-year Treasury yield hit its highest in more than four years at 2.998 percent US10YT=RR on Monday before backing...Read More
DAKAR, April 24 (Reuters) - Congo's state miner Gecamines is starting legal proceedings to dissolve its Kamoto copper and cobalt joint venture with a subsidiary of Glencore, blaming the commodities giant for high debts that have weighed on the mine for more than 10 years.Gecamines said on Tuesday that debts owed by Kamoto to Glencore and its subsidiaries at the end of 2017 topped $9 billion. It sa...Read More
Investing.com - Gold was higher on Tuesday, as the U.S. dollar fell and U.S. Treasury yields rose.Comex gold futures for June delivery were up 0.54% to $1,331.10 a troy ounce as of 10:18 AM ET (14:18 GMT).The price of bouillon was supported by a slightly weaker greenback. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.10% to 90...Read More
Caterpillar (NYSE:CAT), the world's No.1 heavy machinery maker, boosted Tuesday its 2018 profits forecast after beating estimates for first-quarter earnings on strong global demand for its equipment.For the three months ended on March 31, the Deerfield, Illinois-based firm, which is considered a reliable bellwether of global economic activity, reported a net profit of $2.74 per share, above most...Read More
China's domestic rebar prices edged up further on Tuesday April 24 on rising futures, but trading activity has thinned. Domestic Eastern China (Shanghai): 3,880-3,920 yuan ($615-621) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,740-3,770 yuan per tonne, narrowed upward by 10 yuan per tonne Rebar futures continued to strengthen during the day, albeit at a less rapid pace as Monday, w...Read More
SANTIAGO, April 24 (Reuters) - The union of workers at BHP's Escondida copper mine in Chile, the world's largest, told Reuters on Tuesday it had made little progress on an early contract deal with management, making it "highly likely" that no agreement would be struck before official talks begin in June.The union accepted an offer to begin early negotiations with the Anglo-Australian miner in Marc...Read More
TORONTO (Reuters) - A driver deliberately plowed his white Ryder rental van into a lunch-hour crowd in Toronto on Monday, killing 10 people and injuring 15 along a roughly mile-long (1.6-km) stretch of sidewalk thronged with pedestrians, police said.Although the attack had the hallmarks of recent deadly vehicle assaults by Islamic State supporters in the United States and Europe, federal officials...Read More
WINDHOEK, April 24 (Reuters) - Diamond and uranium producer Namibia may scrap requirements for black ownership in the mining sector as it seeks to woo investors to an industry that is rebounding with the commodities cycle, its new mines minister said on Tuesday.Regional peers such as Angola and Zimbabwe are also trying to kickstart their mining sectors by easing investment rules at a time when oth...Read More
Import prices for billet in Southeast Asia picked up some strength over the past week amid higher offers from China as a result of a recovery in its domestic market, while those for slab were flat again on thin trading.BilletMetal Bulletin's assessment of import prices for billet in Southeast Asia was $540-545 per tonne cfr for the week ended Monday April 23, narrowing upward by $5 per tonne from...Read More
RAPAPORT... Petra Diamonds saw a jump in revenue in the third fiscal quarter amid a stronger rough market.Revenue surged 44% year on year to $172 million for the three months ending March 31, while salesvolume increased 28% to 1.4 million carats, the miner reported Monday. The average selling price rose 12% to $125 per carat. Rough prices increased 5% on a like-for-like basis at the two tende...Read More
The proposed acquisition would give Chaarat 50% ownership in Kumtor, including its common equity and management and operation of the mine, while Kyrgyzaltyn would own the mine's preferred equity and be entitled to 50% of its economic benefits.Read More
Caterpillar (NYSE:CAT), the world's No.1 heavy machinery maker, boosted Tuesday its 2018 profits forecast after beating estimates for first-quarter earnings on strong global demand for its equipment.For the three months ended on March 31, the Deerfield, Illinois-based firm, which is considered a reliable bellwether of global economic activity, reported a net profit of $2.74 per share, above most...Read More
Canada Cobalt Works Inc. (TSXV:CCW) is quickly advancing its cobalt-silver property in Ontario with a proprietary separation technologyAngela Harmantas | April 24, 2018 | SmallCapPower: With a new name to start off 2018, Canada Cobalt Works Inc. (TSXV:CCW), formerly Castle Silver Resources, is putting plans in motion at their Castle Cobalt Silver Project in northeastern Ontario. Frank Basa, CEO o...Read More
Investing.com - Gold prices pulled away from two-week lows on Tuesday, but struggled to make headway as a stronger dollar continued to weigh on demand for bullion.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were up $3.80 or 0.29% to $1,328.00 a troy ounce by 04:34 AM ET (08:34 AM GMT).Gold plumbed a two-week low of $1,323.80 on Monday and ended the day...Read More