(Adds detail, quotes)ZURICH, Jan 16 (Reuters) - Swiss National Bank Chairman Thomas Jordan said negative interest rates were still needed to tame the Swiss franc, which he said remained "highly valued.""Switzerland has had a strong franc for a long time and it remains highly valued," Jordan told an event in Zurich on Tuesday."That's why we have low interest rates, they sh...Read More
(Kitco News) - Gold prices ended the U.S. day session with modest gains Tuesday and scored afour-month high in overnight action. Meantime, silver prices were slightly upand hit a two-month high overnight. The precious metals markets are beingsupported by a plunging U.S. dollar index and a soaring Euro currency. February Comex gold was last up $2.40 an ounce at $1,337.40. March Comex silver was las...Read More
(Kitco News) - Gold prices ended the U.S. day session with modest gains Tuesday and scored a four-month high in overnight action. Meantime, silver prices were slightly up and hit a two-month high overnight. The precious metals markets are being supported by a plunging U.S. dollar index and a soaring Euro currency. February Comex gold was last up $2.40 an ounce at $1,337.40. March Comex silver was...Read More
A supply shortage is looming.Read full newsRead More
(Adds details on the acquisition; background on consolidation in the HFT industry)By John McCrankNEW YORK, Jan 16 (Reuters) - Hudson River Trading LLC has agreed to buy Sun Trading parent Sun Holdings LLC, it said on Tuesday, the latest takeover in a shrinking high frequency trading industry beset by low market volatility and rising costs. The deal between the two closely held firms is expected t...Read More
"The virtual solvency of the US government would be likely to become the detonator of the next financial crisis... The market's reversing recognition of the value of U.S. Treasury bonds and U.S. dollar will be a powerful force in destroying the fragile debt chain of the federal government.Read full newsRead More
WASHINGTON, Jan 16 (Reuters) - The U.S. Treasury has warned U.S. investors to approach Venezuela's proposed "petro" cryptocurrency with caution, saying that it may contravene U.S. sanctions against the government of Venezuelan President Nicolas Maduro."Available information indicates that, once issued, the petro digital currency would appear to be an extension of credit to the Venez...Read More
Source: Adrian Day for Streetwise Reports 01/15/2018Money manager Adrian Day provides updates for a handful of companies in his portfolio.A day late and a dollar (in this case, a penny) short: The day after our last recommendation, Evrim Resources Corp. (EVM:TSX.V, 0.42 x 0.44) opened above our limit and has moved up dramatically ever since, trading as high as 47 cents on Jan. 12. Another resp...Read More
* Citigroup, UnitedHealth jump after Q4 results* GE slides after saying it would take $6.2 bln charge in Q4* Merck gains on positive Keytruda lung cancer data* Indexes up: Dow 0.59 pct, S&P 0.23 pct, Nasdaq 0.25 pct (Updates to early afternoon)By Sruthi ShankarJan 16 (Reuters) - The Dow Jones Industrial Average raced past the 26,000 mark for the first time on Tuesday as fourth-quarter earnings...Read More
VANCOUVER (Reuters) - Participants at a 20-nation meeting on North Korea said on Tuesday that sanctions pressure must be maintained on Pyongyang to force it to abandon its nuclear weapons program.“We must increase the costs of the regime’s behavior to the point that North Korea must come to the table for credible negotiations,” U.S. Secretary of State Rex Tillerson told the one-d...Read More
Bert Monro, head of business development at Hummingbird Resources Ltd (LON:HUM) tells Proactive they wrapped up 2017 with around US$40mln in cash in the bank and gold flowing from the furnaces at the new Yanfolila mine in Mali.Hummingbird poured its first gold in the second half of December, following a build and commissioning process that was completed on time and on budget. Meet Netscienti...Read More
Chip stocks are trading higher with the broader stock market today, boosted by a fresh round of bullish brokerage notes for Nvidia (NVDA). Among those rallying with its sector peers is Advanced Micro Devices, Inc. (NASDAQ:AMD), last seen trading up 0.7% at $12.10. However, the shares remain stuck below two key technical levels, and if history is any guide, AMD stock could underperform this year. S...Read More
By Girish GuptaCARACAS, Jan 16 (Reuters) - Advisers to the Venezuelan government are recommending it sell $2.3 billion of its new cryptocurrency, the petro, in a private offering at a discount of up to 60 percent, according to a document reviewed by Reuters.President Nicolas Maduro is pressing ahead with an attempt to capitalize on the success of cryptocurrencies like bitcoin by creating one for V...Read More
ZURICH, Jan 16 (Reuters) - Swiss National Bank Chairman Thomas Jordan said negative interest rates were still needed to tame the Swiss franc, which he said remained "highly valued.""Switzerland has had a strong franc for a long time and it remains highly valued," Jordan told an event in Zurich on Tuesday. (Reporting by John Revill and Angelika Gruber) Disclaimer: The views exp...Read More
NEW YORK, Jan 16 (Reuters) - Hudson River Trading LLC said on Tuesday it agreed to buy Sun Trading parent Sun Holdings LLC in the latest example of consolidation in the high frequency trading industry, which has been in a years-long decline amid low market volatility and rising costs. Terms of the deal between the two closely-held companies were withheld. (Reporting by John McCrank) Disclaimer: T...Read More
The cryptocurrency selloff accelerated on Tuesday with bitcoin and the broader cryptocurrency space plunging as much as 20% as the prospect of regulatory crackdowns appeared to spread across Asia.Read full newsRead More
Oil prices are trading near three-year highs, but many analysts say the rally may have gone too far, too fast. With Brent crude settling above $70 a barrel on Monday, new risks are emerging for an industry that is still reeling from a long downturn.Read full newsRead More
(Adds details)ABUJA, Jan 16 (Reuters) - Nigeria expects to raise $700 million from international sources as part of a $3.5 billion in borrowing earmarked in the 2017 spending plan, the Debt Management Office (DMO) said on Tuesday.The DMO gave no details of which sources the government could tap but director general Patience Oniha told Reuters in October the country is talking to the World Bank ab...Read More
Christmas may be long over but it is still a hot issue for the retail sector, which remains in the throes of the Yuletime trading update season.On Wednesday it will be the turn of fashion firm Burberry to sashay down the catwalk.Investors will be looking for a smooth execution of Burberry's new strategy under its new boss.One of the first things new chief executive Marco Gobbetti did when he...Read More
David Archer, chief executive of Savannah Resources Plc (LON:SAV), tells Proactive that three applications for mining leases have been submitted to the Ministry of Mineral Resources and Energy in Mozambique, for the Mutamba heavy mineral sands projects.Mutamba, which is being evaluated in a consortium with Rio Tinto, would likely have a 25-year life if the mining leases are confirmed. Meet N...Read More