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Business Materials and Metals

  • Will Alcoa's spin-off strategy work?

    Stronger construction figures in China could give Alcoa's downstream spin-off, Arconic, a boost, says S&P Global Platts's Annalisa Jeffries.

  • TOKYO, Oct 12- Japan Bank for International Cooperation, a major backer of mining and energy projects for Japanese companies, said it will be cautious on lending to the resources sector despite a rally in commodity prices this year. The development bank lends to projects from shale oil and gas developments in the United States to solar farms in Jordan and has more...

  • MELBOURNE, Oct 12- London zinc partly recovered on Wednesday after posting its sharpest daily fall in more than 10 months after a major miner said it planned to double output next year, which pummeled zinc prices in Shanghai. Zinc is up by 40 percent this year, "said Vivek Dhar of Commonwealth Bank in Australia, adding that the supply boost would take some of the heat...

  • Are Alcoa's earnings a cause for concern?

    Jason Hall, editor at The Motley Fool, talks about the outlook for Alcoa shares and whether Arconic makes for a good buy.

  • Expect more volatility before, after election: Expert

    Price Headley, president of BigTrends.com, says that he's cautious on the markets because of greater volatility ahead of the election.

  • SHANGHAI, Oct 12- China Construction Bank Corp will establish a 24 billion yuan transformation and development fund with Wuhan Iron and Steel Group Corp to help the steel firm reduce leverage, the bank said on its website. Although the statement released on Tuesday did not explicitly mention debt-to-equity swaps, a separate article published Wednesday by...

  • MELBOURNE, Oct 12- London zinc partly recovered on Wednesday after posting its sharpest daily fall in more than 10 months after a major miner said it planned to double output next year, which pummelled zinc prices in Shanghai. *Shanghai Futures Exchange zinc cut early 2.5 percent losses to 2.1 percent, trimming the year's gains to 41 percent.

  • *Spot gold was steady at $1,253.20 an ounce by 0052 GMT. Federal Reserve should engineer monetary policy to spur inflation to rise above its two-percent target because the costs of doing so are less than in past decades, Chicago Federal Reserve Bank President Charles Evans said on Tuesday. *Bank of England policymaker Michael Saunders said on Tuesday he would...

  • LONDON, Oct 11- Global steel demand will rise by a meager 0.2 percent this year, according to the World Steel Association. The improvement is all about China, where production and demand have been lifted by the government's latest stimulus package, another push of the infrastructure and construction buttons. Stainless steel production rebounded strongly in...

  • Markets expected too much from Alcoa: Analyst

    Alcoa made significant productivity gains but markets were concerned with management's guidance downgrade, says Fat Prophets' David Lennox.

  • Alcoa no longer earnings bellwether: Investor

    Focus should be placed on technology and banking stocks as these are more critical to U.S. markets, says Jeremy Hill, head of markets at Levy, Harkins & Co.

  • BAMAKO, Oct 11- Mali mine workers will go on strike on Oct. 24 for five days, a union official said on Tuesday, to protest what he described as unfair treatment of union workers. Mali is the third biggest gold producer in Africa behind South Africa and Ghana, and gold overwhelmingly dominates its mining sector, itself about a quarter of government revenues.

  • Alcoa results were soft: Analyst

    Weaker management guidance for three value-add segments further led to Alcoa's stock price taking a hit, says Morningstar's Andrew Lane.

  • Oct 11- Metals company Alcoa Inc, weeks away from splitting into two, on Tuesday reported a quarterly profit that missed estimates and lowered its revenue forecast for the unit serving the auto and aerospace sectors, sending shares down 10 percent. "We are performing well despite the low pricing environment... demanding conditions on the commodity side as well as...

  • Oct 11- Metals company Alcoa Inc on Tuesday reported higher quarterly profit due to cost-cutting and lower tax provisions, but results missed expectations and its stock sank 10 percent. "We are performing well despite the low pricing environment... demanding conditions on the commodity side as well as aero industry teething problems," Alcoa Chief Executive...

  • TORONTO, Oct 11- Canada's main stock index moved slightly higher on Tuesday, helped by strong gains for energy shares catching up to higher oil prices while gold miners weighed with cheaper bullion. At 10:06 a.m. EDT, the Toronto Stock Exchange's S&P/TSX composite index had gained 12.36 points, or 0.08 percent, to 14,578.62. The energy group climbed 1.1 percent,...

  • CAJAMARCA, Colombia, Oct 11- Gold mining companies have invested hundreds of millions of dollars but not extracted a gram. Whether or not President Juan Manuel Santos can salvage a peace deal with Marxist rebels that was rejected by voters on Oct. 2, legal roadblocks and high taxes are a major deterrent for companies looking to invest in Colombia.

  • Oct 11- Metals company Alcoa Inc on Tuesday reported higher quarterly profit due to cost-cutting and lower tax provisions, but the results missed expectations and sent its stock sank nearly 10 percent. "We are performing well despite the low pricing environment... demanding conditions on the commodity side as well as aero industry teething problems," Alcoa Chief...

  • Gold bars are seen in the Austrian Mint (Muenze Oesterreich) headquarters in Vienna

    Despite recent falls in the price of gold, now may be the time to add exposure to the metal thanks to demand from Asia, experts suggest.

  • The New York- based company reported third-quarter net profit of $166 million, or 33 cents per share, up from $44 million, or 6 cents a year earlier. Analysts, on average, expected earnings per share for the quarter of 35 cents. In premarket trading, Alcoa shares were trading at $29.88, down more than 5 percent from Monday's official closing price of $31.51.

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