Stocks Climb on Dovish Fed Comments; Bernanke Up Next
Metals and Mining
More
-
*Spending $5.5 billion over five years. March 8- Goldcorp Inc, Canada's second-largest gold mining company, has no plans to diversify away from gold into other metals and remains focused on increasing its gold output, Chief Executive Chuck Jeannes said on Friday. The shares were barely changed at C $33.65 on Friday morning on the Toronto Stock Exchange.
-
SINGAPORE, March 8- London copper was little changed on Friday but set to log its first weekly gain in four, with China trade data and a U.S. jobs report later in the session expected to underline reviving growth in the world's top two economies. *The most-traded June copper contract on the Shanghai Futures Exchange rose 0.57 percent to 56,730 yuan a tonne.
-
BOSTON, March 7- Hedge fund billionaire John Paulson lost more money in February when his gold fund suffered double-digit losses as the metal and gold mining stocks extended losses. Paulson's three-year old Gold Fund, with roughly $800 million in assets, tumbled 18 percent last month and is now down 26 percent this year, two people familiar with the numbers said.
-
BOSTON, March 7- Hedge fund billionaire John Paulson's Gold Fund tumbled 18 percent last month when gold and gold mining stocks slid further, two people familiar with the numbers said.
-
TORONTO, March 7- An unmanned miniature helicopter and something that looks like a small flying barbecue are among the gadgets turning the mining sector into an emerging frontier in the commercial use of drones, and at a fraction of the costs of piloted craft.
-
Nomura and Societe Generale are the latest banks to warn about gold, as several banks in recent days have cut their price forecasts and warnings about a correction for bullion have risen.
-
JOHANNESBURG/ MARIKANA, March 7- The bloody first round of South Africa's mine union turf war is over and the clear winner on the platinum belt is the Association of Mineworkers and Construction Union. The violence that resulted included the killing of 34 striking miners by police near the Marikana mine run by platinum producer Lonmin in August last year.
-
*Says copper cathode sales in Europe "flat to slightly lower". MADRID, March 7- Global miner Freeport McMoRan Copper and Gold said it was more than willing to supply any new copper smelters in Indonesia with raw copper concentrates but remained reluctant to build smelting operations itself.
-
*China accuses mega miners of holding back cargoes to boost prices. MELBOURNE/ SINGAPORE, March 7- BHP Billiton said on Thursday it was committed to a transparent iron ore market, responding to allegations by top consumer China that global miners had manipulated the market to drive an 80 percent jump in prices over the past six months.
-
With oil production at a twenty year high and predictions of a manufacturing renaissance for the U.S. economy, one of the world's largest investment banks has detailed how the "shale revolution" will negatively affect emerging markets such as China.
-
SINGAPORE, March 7- London copper edged up on Thursday after data showed that the U.S. economy improved while Shanghai copper closed not far from three-month lows as Chinese consumers ramp up slowly after the Lunar New Year break. The most-traded June copper contract on the Shanghai Futures Exchange fell 0.60 percent to close at 56,530 yuan a tonne.
-
BEIJING, March 7- China's top steel-producing province of Hebei plans to cut total capacity by 60 million tonnes, the provincial governor said on Thursday, in a move aimed at consolidating and cleaning up the chaotic sector.
-
SINGAPORE, March 7- London copper edged up on Thursday after data showed that the U.S. economy improved while Shanghai copper fell towards three-month lows as Chinese consumers ramp up slowly after the Lunar New Year break, and a stronger dollar weighed on purchases.
-
*China accuses mega miners of holding back cargoes to boost prices. MELBOURNE, March 7- BHP Billiton said on Thursday it was committed to a transparent iron ore market, responding to allegations by top consumer China that major miners had manipulated the market to drive an 80 percent jump in prices over the past six months.
-
LAUNCESTON, Australia, March 7- China's accusation that the big three iron ore miners manipulated supply in order to spark a recent 83 percent rally in prices is contradicted by its own customs data.
-
SINGAPORE, March 7- Shanghai copper fell one percent on Thursday towards three-month lows as Chinese consumers ramp up slowly after the Lunar New Year break, while London copper edged up on firmer risk sentiment after improving U.S. data. *The most-traded June copper contract on the Shanghai Futures Exchange slipped 1 percent to 56,300 yuan a tonne.
-
SHANGHAI, March 6- China's top economic planning agency lashed out at the world's top three iron ore miners on Wednesday, accusing them and some traders of manipulating the market to drive an 80 percent rally in ore prices in just six months.
-
*Senators want approval of pipeline in hands of Congress. The State Department said Friday that TransCanada Corp's pipeline from the Alberta oil sands to Texas would not add to global greenhouse gas emissions because oil sands crude will make it to market whether or not the project is built.
-
LONDON, March 6- European shares fell on Wednesday as investors booked profits on a rally that had sent several markets to multi-year highs, led by weakness in the mining sector after metals prices fell.
-
*Coming Up: U.S. Factory orders at 1500 GMT. SINGAPORE, March 6- London copper turned lower on Wednesday as traders took profits after two days of gains and ahead of central bank meetings and key data this week, with China's consumers yet to ramp up their purchases fully after the Lunar new year.