SPOT is getting drilled after its first earnings report on the Big BoardSpotify Technology SA (NYSE:SPOT) gapped sharply lower at the open today, as traders were quick to pan the music streaming service's quarterly results. In its first earnings report since joining the New York Stock Exchange (NYSE) in April, Spotify reported a narrower first-quarter operating loss, but offered up a lackluster fo...Read More
The price of steel billet imported into Egypt increased slightly this week while local rebar prices were unchanged, sources told Metal Bulletin on Thursday May 3.The country's biggest producer, Ezz Steel, is still offering rebar at E ?12,528 ($707) per tonne ex-works, including 14% VAT, while Beshay Steel, also a major domestic producer, is offering rebar...Read More
SHANGHAI, May 3 (SMM) – Spot copper in the Shanghai market was offered at a discount of 50-10 yuan/mt against the SHFE 1805 contract on the morning of Thursday May 3, SMM learned.This is down from a discount of 20 yuan/mt to a premium of 20 yuan/mt in the previous morning. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our re...Read More
LONDON (Reuters) - World stocks made little progress on Thursday as worries over global trade tensions weighed, while the U.S. dollar consolidated recent bumper gains after the Federal Reserve reaffirmed the outlook for more rate hikes.The MSCI world equity index, which tracks shares in 47 countries, traded flat in percentage terms. Europe’s pan-European STOXX 600 index was down 0.3 percent...Read More
Australia's Lucapa Diamond (ASX:LOM) has discovered yet another large diamond at its prolific Lulo mine in Angola - a 46-carat pink stone, the largest coloured gem-quality rock ever recovered there.The company said the gem-quality coloured diamond eclipsed both the 43-carat yellow gem found in January and the almost 39-carat pink dug up in September last year."The frequent recovery of large and...Read More
Glencore (LSE:GLEN) was close behind, up 3.16%, and Rio Tinto (LSE:RIO) gained 2.93% following the release of positive manufacturing data out of China.Still in the UK, the LSE yesterday said it had postponed the suspension of En+ Group's global depositary receipts after the US extended the deadline for compliance with sanctions.En+ chairman Lord Barker of Battle welcomed the extension and said he...Read More
(IDEX Online) - Lucara Diamond Corp. has appointed Naseem Lahri, BCOM, FCCA as Managing Director of Boteti Mining (Pty) Ltd, Lucara's 100% owned subsidiary in Botswana, effective immediately. Naseem Banu Lahri has more than 17 years' experience in the mining industry, including 10 years within Corporate Finance at Debswana at the senior management level. She has also served a...Read More
JOHANNESBURG (miningweekly.com) – The United Selling Organisation (USO) of Alrosa has sold 101 special size diamonds (weighing more than 10.8 ct) at its most recent auction in Vladivostok, netting a total revenue of $14.8-million.The Russian diamond mining company invited 86 companies from the world’s main diamond trading hubs, including Hong Kong, Belgium, Israel and India, to its Vla...Read More
SHANGHAI, May 3 (SMM) –Copper: As the US dollar index rebounded to a fresh high, LME copper traded rangebound overnight and SHFE copper’s trading range fell slightly. We expect LME copper to trade at $6,770-6,820/mt today with the SHFE 1806 contract at 50,800-51,200 yuan/mt. In the physical market, offers are stabilising as futures consolidate. Spot discounts are seen at 60-20 yuan/mt....Read More
The GPU giant will report earnings after the close next ThursdayTechnology name Nvidia Corporation (NASDAQ:NVDA) is trading higher this morning, after getting upgraded to "overweight" from "equal weight"at Barclays, which also lifted its price target to $280 from $265. The brokerage firm said it believes the chip producer will benefit from the next wave in artificial intelligence, while also predi...Read More
China's domestic rebar prices maintained their upward trend on Thursday May 3 following positive futures in the morning trading session. Domestic Eastern China (Shanghai): 4,060-4,100 yuan ($638-644) per tonne, up 40 yuan per tonneNorthern China (Beijing): 3,910-3,940 yuan per tonne, up 40 yuan per tonneThe most-traded October rebar futures contract rose above Wednesday's settlement price of...Read More
LONDON (Reuters) - The euro rose off four-month lows on Thursday, shrugging off data showing an unexpected slowdown in euro zone inflation, while elsewhere most currencies recovered some ground versus the dollar as the greenback’s recent rally paused.Euro zone inflation slowed to 1.2 percent year-on-year in April, down from 1.3 percent in March, and core inflation fell even more, raising que...Read More
(IDEX Online) - In keeping with Israel's focus on innovation and its reputation as a "Start Up Nation", this year's World Diamond Congress (WDC) will highlight the role of technology in advancing the diamond industry. The WDC is the official forum of the general assemblies of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA). It will be...Read More
The year-on-year drop was 7% and the last time demand was lower in the January-March period was 2008, according to the World Gold Council's Gold Demand Trends report for the March quarter.It attributed the low level to falling investment demand for gold bars and gold-backed exchange-traded funds (ETFs) and a subdued gold price.Total investment demand for the quarter was 27% lower on the year at 28...Read More
JOHANNESBURG (miningweekly.com) – Aim-listed Botswana Diamonds has signed a memorandum of understanding with Vast Resources for the exchange of information derived from past exploration on areas prospective for diamonds in Zimbabwe.The parties will also establish a jointly owned special purpose vehicle for developing and exploiting diamond resources in Zimbabwe.AdvertisementIn 2008, Vast acq...Read More
Alistair Hewitt, head of market intelligence at the World Gold Council tells Proactive Investors gold demand in 2018 got off to a quiet start reaching just 973 tonnes - the lowest quarter since 2008.He says demand for gold in the technology sector however continued to improve.The wireless sector was a key area of growth as 3D sensors for facial recognition were increasingly used in smartphones, ga...Read More
RAPAPORT... PC Jeweller has denied a report that its CEO has beenarrested, but scrutiny of the Indian retailer has intensified amid a slump in itsshare price. Business Television India (BTVI) reported Thursday thatIndia's Central Bureau of Investigation had detained Balram Garg, the jeweler'sCEO, as part of a probe into his dealings with politicians. It also alleged aconnection between Garg and Me...Read More
(Kitco News) - Before I lay out to you why gold will hit new highs in the coming years, I want to first thank you and all of my loyal Kitco readers who have followed my daily reports for so many years. I have a lot of irons in the fire, but writing for Kitco, and you, is one of my very favorite daily chores. I hope you continue to follow me in the coming years.If you know me well by having read my...Read More
There's a highly anticipated trade meeting today between the U.S. and ChinaDow Jones Industrial Average (DJI) futures are pointing to a triple-digit pullback this morning, as Wall Street continues to digest yesterday's Fed announcement. Traders could also be jittery ahead of a meeting today on trade between U.S. and Chinese officials. As such, investors are digesting this morning's import and exp...Read More
The prolific Golden Triangle mining district and surrounding area of northwestern British Columbia is ripe for new discoveries, says Goliath Resources Limited (TSXV:GOT) (FSE:B4IE) CEO Roger RosmusAngela Harmantas | May 3, 2018 | SmallCapPower: Canada's Golden Triangle is experiencing a mining renaissance thanks to Mother Nature and higher metal prices.The Golden Triangle, located in northwest Br...Read More