MILAN, Feb 5 (Reuters) - Credito Fondiario, an Italian bad loan specialist that in late 2017 backed a vital capital raising at Banca Carige , has liquidated its 5.4 percent stake in the lender, a regulatory filing showed.Market regulator Consob said on Monday Panfilo Tarantelli, founder and CEO of Tages Group, a London-based investment firmwhich controls Credito Fondario, had sold his entire stake...Read More
(Bloomberg) - The Democratic Republic of Congo will seek greater control of the global cobalt market by engaging directly with car and battery manufacturers, according to its largest state-owned mining company."I find it scandalous that when cobalt is discussed, and the explosion of electric vehicles, only the traders and consumers are referenced and Congo and Gecamines are not cited," Gecamines...Read More
(Kitco News)- Momentum continuesto shift in the gold market as hedge funds kept their exposure to gold andsilver materially unchanged last week, according to the latest trade data fromthe Commodities Futures Trading Commission.”Many analysts havewarned that the gold’s overstretched market is on the cusp of a much-neededconsolidation period, and speculative interest in the yellow metal...Read More
(Updates prices)* Biggest 2-day drop in more than six months* Graphic: Trade-weighted sterling since Brexit vote By Saikat ChatterjeeLONDON, Feb 5 (Reuters) - Sterling fell 0.7 percent on Monday as surveys showing a slowing British economy and negative news around Brexit negotiations sapped investor confidence in a busy week for the central bank.Financial data firm IHS Markit said on Monday growt...Read More
(Kitco News) - Momentum continues to shift in the gold market as hedge funds kept their exposure to gold and silver materially unchanged last week, according to the latest trade data from the Commodities Futures Trading Commission.”Many analysts have warned that the gold’s overstretched market is on the cusp of a much-needed consolidation period, and speculative interest in the yellow...Read More
(Writes through)FRANKFURT, Feb 5 (Reuters) - The European Central Bank raised its purchases of company debt in January while slashing its buying of government bonds, ECB data showed on Monday, in a sign that the focus of its huge stimulus programme may be shifting.Aimed at lowering borrowing costs for companies, the ECB's purchases of corporate bonds have been criticised by some European lawmaker...Read More
(In Feb 2 item, corrects figure in paragraph 11 to "$1.5 trillion" from "$1.5 billion".)* Nonfarm payrolls increase by 200,000 in January* Unemployment rate unchanged at 4.1 percent* Average hourly earnings rise 0.3 percent* Average hourly earnings increase 2.9 percent year-on-year By Lucia MutikaniWASHINGTON, Feb 2 (Reuters) - U.S. job growth surged in January and wages incr...Read More
* GRAPHIC-2018 asset returns: * LME/ShFE arb: (Adds official midday prices)By Maytaal AngelLONDON, Feb 5 (Reuters) - Copper hit a three-week high on Monday as the dollar rally paused and the balance of supply and demand looked to stay relatively tight, while nickel climbed after posting its largest daily loss in two months on Friday.The dollar remained mired near three-year lows as resurgent U.S....Read More
Neil Ritson, chief executive of Solo Oil PLC (LON:SOLO), discusses with Proactive the findings from the recently completed CPR which reveals a major upgrade to the gas resources at the Ntorya project in Tanzania.It follows the Ntorya-2 appraisal well success and an assessment of well testing.Ntorya's contingent gas resource has now risen to 762.8bn cubic feet of gas, comprising 80.6bn cubic feet o...Read More
MONTEVIDEO, Feb 5 (Reuters) - Consumer prices in Uruguay rose 2.71 percent in January, bringing the 12-month inflation rate to 6.67 percent, the government's National Statistics Institute said on Monday.The central bank targets annual inflation of between 3-7 percent. Consumer prices rose a total of 6.55 percent in full-year 2017. (Reporting by Eloisa Capurro; Writing by Luc Cohen) Disclaimer: Th...Read More
* Gecamines wants renegotiations to start in second quarter* Congo is Africa's biggest miner of cobalt, copper* Foreign investors raise concern about new mining law (Updates with comments from interview, Ivanhoe reaction)By Barbara LewisCAPE TOWN, Feb 5 (Reuters) - Democratic Republic of Congo's state mining company Gecamines said on Monday it wanted to start renegotiating contracts with its inter...Read More
WASHINGTON, Feb 5 (Reuters) - The White House said on Monday it respected Larry Lindsey's decision to withdraw from consideration as vice chair of the Federal Reserve Board."We respect Dr. Lindsey's decision to withdraw his name from consideration at this time. As one of the nation's leading economic policy experts, Dr. Lindsey has been a valuable resource to the Administration. We wish him t...Read More
U.S. stocks are extending theirworst sell-off in years. The Dow Jones Industrial Average (DJI) istrading in the red, down triple digits, despite blue-chip Apple's (AAPL) attempt to climb out of correction territory. While the Dow is off its session lows, energy stocks are keeping up the pressure, and financial stocks are following Wells Fargo (WFC) lower. The S&P 500 Index (SPX) is also lower at...Read More
SOFIA, Feb 5 (Reuters) - The Bulgarian Stock Exchange BSE , majority controlled by the state, has finalised a 5.2 million levs ($3.3 million) deal to acquire the Balkan country's energy exchange IBEX after receiving all regulatory approvals, it said on Monday.State-owned energy holding BEH pledged to transfer the control of the day-ahead power exchange, setup in early 2016, as part of a settlement...Read More
(Bloomberg) - Anglo American Plc raised the possibility that it could start buying assets in South Africa, the latest sign of how much has changed in two years, when the miner was focused on selling."We no longer have any for sale sign," Norman Mbazima, deputy chairman of Anglo American's South African unit, said in an interview Monday. "It is possible to invest in South Africa. We have got hope...Read More
Gervaise Heddle, chief executive of Greatland Gold plc (LON:GGP), tells Proactive's Andrew Scott they're to kick off a new exploration campaign at the Ernest Giles gold project in Western Australia.The plan is to drill three high priority targets at the Meadows, Wishbone and Empress areas, although before that, mobile metal ion surveys will be carried out. Meet Anglo Asian Mining Plc, Condor...Read More
Shareholders of world's second largest miner Rio Tinto (ASX, LON:RIO) are being recruited to demand the company quit Australia's top mining lobby group.The Australasian Centre for Corporate Responsibility (ACCR) is looking to persuade about 100 investors to co-file a resolution at Rio Tinto's upcoming annual general meeting, in which it will ask the group to leave the Minerals Council of Austral...Read More
Shareholders of world's second largest miner Rio Tinto (ASX, LON:RIO) are being recruited to demand the company quit Australia's top mining lobby group.The Australasian Centre for Corporate Responsibility (ACCR) is looking to persuade about 100 investors to co-file a resolution at Rio Tinto's upcoming annual general meeting, in which it will ask the group to leave the Minerals Council of Austral...Read More
Shareholders of world's second largest miner Rio Tinto (ASX, LON:RIO) are being recruited to demand the company quit Australia's top mining lobby group.The Australasian Centre for Corporate Responsibility (ACCR) is looking to persuade about 100 investors to co-file a resolution at Rio Tinto's upcoming annual general meeting, in which it will ask the group to leave the Minerals Council of Austral...Read More
Bank of America Corp (NYSE:BAC) is trading down a modest 0.2% today at $31.90, despite sharp losses for fellow financial stock Wells Fargo (WFC). Plus, the shares are holding near their nine-year peak of $32.67 -- hit during last Friday's broad-market bloodbath -- and are up 37% on a year-over-year basis. And if history is any guide, BAC stock could be headed for even higher highs in the near term...Read More