By Sanjeev MiglaniNEW DELHI, Nov 9 (Reuters) - India's government said it will sell stocks worth millions of dollars seized from people who moved to Pakistan following partition in 1947 and the wars since, as a way to make up for a shortfall in revenues.The stocks worth at least 30 billion rupees ($412.26 million) are part of what India calls "enemy properties" that once belonged to people who wen...Read More
* NSE index down 0.2 pct, BSE index 0.1 pct lower* IT, energy stocks drag; financials top boostNov 9 (Reuters) - Indian shares closed slightly lower on Friday, dragged by top IT and energy stocks, while gains in the financial and consumer counters arrested the downside.The benchmark BSE index .BSESN fell 0.22 percent to 35,158.55, while the broader NSE index .NSEI declined 0.12 percent to 10,585.2...Read More
Investing.com - Gold prices slumped on Friday as inflation data pointed to steady interest rate increases by the Federal Reserve.Comex gold futures for December delivery fell 1.17% to $1,211.90 a troy ounce as of 11:11 AM ET (16:11 GMT).The producer price index (PPI) increased 0.6% in October. The higher-than-expected numbers support the Fed’s gradual rate increase policy, which helped boost...Read More
* Walt Disney (NYSE:DIS) gains on strong Q4 results* General Electric (NYSE:GE) falls after J.P. Morgan cuts PT* U.S. crude in bear territory, below $60 a barrel* Indexes down: Dow 0.58 pct, S&P 0.74 pct, Nasdaq 1.10 pct(Updates to open)By Sruthi ShankarNov 9 (Reuters) - U.S. stocks fell on Friday, with shares of technology, energy and industrial companies bearing the brunt of a selloff, a...Read More
* Walt Disney (NYSE:DIS) gains on strong Q4 results* General Electric (NYSE:GE) falls after J.P. Morgan cuts PT* U.S. crude in bear territory, below $60 a barrel* Futures down: Dow 0.55 pct, S&P 0.58 pct, Nasdaq 0.91 pct (Changes comment, adds details, updates prices)By Sruthi ShankarNov 9 (Reuters) - U.S. stocks were set to fall at the open on Friday, as a batch of weak Chinese data raise...Read More
Nov 9 (Reuters) -For other diaries, please see:Political and General NewsPOL/DIARYTop Economic EventsM/DIARYEmerging Markets Economic Events EMRG/DIARYGovernment Debt AuctionsD/DIARYU.S. Federal ReserveFED/DIARYToday in WashingtonWASH/DIARY----------------------------------------------------------- This Diary is filed daily. ** Indicates new events -------------------------------------------------...Read More
(For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in an Eikon news window.)* Futures down: Dow 0.49 pct, S&P 0.54 pct, Nasdaq 0.82 pctBy Sruthi ShankarNov 9 (Reuters) - U.S. stock index futures fell on Friday, as a batch of weak Chinese data raised concerns about global growth a day after the Federal Reserve hinted at gradual tightening of borrowing costs.This gave investors...Read More
* MSCI Asia-Pacific index loses 1.3 pct, Nikkei sheds 1.05 pct* Fed stands pat but still on track to gradually hike rates* Dollar supported with short-term U.S. yields at decade highs* Prospect of swelling global supply keeps crude near 8-mth lows* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Shinichi SaoshiroTOKYO, Nov 9 (Reuters) - Asian stocks pulled back from a one-month high on...Read More
(Bloomberg) -- China’s massive import expo is starting to wind down in Shanghai. From million-dollar shoes to robots and toys, here’s what Bloomberg’s reporters saw as the highlights.There’s been hundreds of deals and agreements signed at the expo, according to Bloomberg calculations. A lot of those have been energy and commodity deals, like Chinalco’s agreement on Th...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Rebar producers in Poland have slightly decreased domestic prices over the past week, sources told Fastmarkets on Friday November 9.The decline reflected the expected seasonal slowdown that was anticipated by distributors, market participants said.Fastmarkets' price assessment for domestic 12mm B500B-grade rebar in Poland was 2,320-2,350 zloty ($617-625) per tonne ex-works on November 9, down from...Read More
* MSCI Asia-Pacific index loses 1.1 pct, Nikkei sheds 0.8 pct* Fed stands pat but still on track to gradually hike rates* Dollar supported with short-term U.S. yields at decade highs* Prospect of swelling global supply keeps crude near 8-mth lows* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Shinichi SaoshiroTOKYO, Nov 9 (Reuters) - Asian stocks pulled back from a one-month high on F...Read More
Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) recorded sales volumes of 101,000 tonnes during the third quarter of 2018, up from 97,900 tonnes in the corresponding period a year before.Volume growth came from the company achieving a higher share of downstream products and exports in the sales mix, according to an earnings report published by parent group Votorantim.Consumpti...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week. Base metalsDuring the Asian trading on Friday morning, most base metal prices on the Shanghai Futures Exchange were up, buoyed by the modest pick-up in risk-on sentiment following China's release of positive economic data for October. On London Metal Exchange trading on Friday morning...Read More
Chinese mining company Bosai Group has acquired 51% of Shandong Qixing Group's alumina refinery for 1.2billion yuan ($1.73 million), although the market does not expect any immediate relief to Chinese domestic alumina supply tightness, Fastmarkets understands. The Qixing refinery has a capacity to produce 500,000 tonnes per year of alumina, but it has been idle for over a year due to financial iss...Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
The current conditions in the zinc concentrate market are the biggest challenge to operating Noranda Income Fund's (NIF) processing facility profitably, the company said. NIF, which owns the Canadian Electrolytic Zinc (CEZ) facility in the Canadian province of Quebec, said that the supply tightness in the zinc concentrate market was the result of several large mine closures in recent years and str...Read More
The London Metal Exchange has addressed a series of proposals put forward to market participants in a consultation period that began in early August, introducing key rulebook and procedural amendments in conjunction with its Strategic Pathway initiatives first introduced in 2017.Structured around key initiatives set out in 2017 to drive market growth, market feedback from the consultation has prom...Read More
The latest metal markets news and price moves to start the North American day on Friday November 9. Base metals on the London Metal Exchange were mostly lower during morning trading on Friday November 9, failing to match upward momentum across Asian sessions amid strong economic data on Chinese exports. The three-month lead price was the biggest loser, falling 2% from yesterday's close to $1,...Read More
Fastmarkets MB reviews the major stories that have affected the steel market during the week ended November 9.Raw Materials Japanese H2 scrap continued to lead price falls in the Asia markets amid weak demand from end users and bearish sentiment among traders.It is unlikely that there will be any spot-market activity in 2019 for direct-reduction (DR) grade iron ore pellets, according to...Read More