Iron ore futures prices gained for a second straight session on Tuesday, supported by pre-holiday restocking by steelmakers in top consumer China and revived hopes of stimulus. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.29% higher at 783 yuan ($107.28) a metric ton. The benchmark January iron…
SYDNEY/LONDON, Dec 16 (Reuters) – Shares around the world nudged lower on Monday on soft economic numbers from China and Europe and as surging bond yields challenged equity valuations, kicking off a week packed with central bank meetings and major economic data. Figures from China showed retail sales rose just 3.0% in November, compared with…
After the strong November payrolls data, released last week, boosted hopes for an interest rate cut in December,the focus of investors in the week ahead will be on the consumer price inflation. The retail inflation data could provide clues on the US Federal Reserve’s last monetary policy of 2024. In addition, the market participants will…
China is claiming to have unearthed the largest gold deposit in the world — estimated to be worth more than $80 billion. More than 1,000 tons of gold reserves and ore veins were allegedly discovered by geologists from the Hunan Provincial Geological Institute some 12 miles beneath the surface in China’s Pingjiang County, according to…
Equities Global markets were mostly higher ahead of a data-packed week, fuelled by investor optimism over billionaire hedge fund manager Scott Bessent’s nomination as U.S. treasury secretary. Wall Street futures climbed at the start of a trading week shortened by the Thanksgiving holiday. TSX futures followed sentiment higher. In Canada, investors are getting results from…
The company aims to propel the former Troilus gold and copper mine back into production. Credit: Aleksandrkozak/Shutterstock. Troilus Gold, a Canadian development-stage mining company, has furthered its project financing strategy by securing two new letters of intent (LOIs). The official Export Credit Agency of Finland, Finnvera, has expressed its intent to provide up to $300m…
Wall Street opened lower Tuesday while escalating tensions in the Russia-Ukraine war prompted investors to shift toward traditional safe-haven assets including gold and Treasury bonds. The S & P 500 fell 0.5 percent in early trading, with the Dow Jones Industrial Average dropping 319 points, or 0.7 percent. The Nasdaq composite also slid 0.5 percent….
As the economic calendar is fairly light in the week ahead, the major focus of the market participants on Wall Street will be on earnings reports from big names such as chip giant Nvidia Corp, retail heavyweights Walmart Inc and Target Corp. Nvidia, the world’s most valued company by market capitalization will declare its third…
China has reported “prominent results” in its hunt for green-energy minerals, with the Ministry of Natural Resources saying new deposits of the resources deemed crucial for national security had been discovered. Among those at the top of the list released by the ministry last week were gold, copper, molybdenum, phosphorite and fluorite – minerals important…
Wall Street in the week ahead will see plenty of economic data and earnings reports from five megacap companies. On the economic front, investors will closely monitor US Q3 GDP numbers, the Federal Reserve’s preferred inflation gauge – Personal Consumption Expenditures price index, and jobs report. Next week, stocks of five megacap companies — Apple,…