TORONTO, May 26- Canada's main stock index rose to a fresh nine-month high on Thursday as mining stocks rallied, while stronger-than-expected earnings from the country's biggest bank by market value helped financials edge higher. Canada's two largest lenders reported an increase in bad loans to oil and gas firms as low crude prices hurt energy sector... » Read More
The price of iron ore soared overnight as BHP Billiton signaled it would slow its expansion programs, says Jonathan Barratt, chief investment officer of Ayers Alliance Securities.
Shares of BHP Billiton and Rio Tinto will continue to track sideways for the rest of 2015, says Michael Gable, managing director at Fairmont Equities.
Kunal Sawhney, chief executive at Kalkine, explains why the global miner's first-quarter production report "doesn't look very good" compared to a year ago.
Mike Harrowell, director of Resources Research at BBY, says the 12 percent rise in first-quarter iron ore production was a "good number" that will help Rio Tinto meet its 2015 guidance easily.
Jake Klein, executive chairman at Evolution Mining, says the acquisition of La Mancha's Australian gold assets was a "fair-value investment" that offered a "tremendous opportunity."
With more downside ahead in iron ore prices, investors should stay away from Australia's miners, except for BHP Billiton and Rio Tinto, says Gavin Wendt, founding director & senior resource analyst at Minelife.
Iron ore's price plunge is likely to start claiming corporate casualties among the industry's smaller players, Goldman Sachs said.
David Lennox, resources analyst at Fat Prophets, says big miners like Rio Tinto will have a better chance of surviving the rout in iron ore prices, but it is hard to say for sure in the junior end.
Warren Gilman, chairman & CEO of CEF Holdings, says the price of iron ore isn't going to rebound anytime soon, with the occurrences of mine closures likely to continue.
The last time Western Australia was engaged in a dispute with Canberra of this magnitude was during the 1930s Depression. The Financial Times reports.
David Walker, senior analyst at stocksinvalue.com.au, explains why Chinese firms may be more interested than Anglo-Swiss mining giant Glencore in acquiring Fortescue Metals.
Rob Brierley, head of research at Patersons Securities, says the quarterly report was in line with expectations, but questions the sustainability of the miner's cost-cutting plans.
There is a "real significant shift" in the Mongolian government's view towards foreign investments in its mining sector, says Peter Akerley, president & CEO of Erdene Gold.
Mathew Hodge, resource analyst at Morningstar, says a price recovery in iron ore depends on when big miners like Vale realize the strategy of boosting production is a mistake.
Oversupply and a lack of demand growth has led some market analysts to speculate that iron ore prices will never recover to former levels.
Canadian gold mining companies Alamos Gold and AuRico Gold are merging in a deal valued at approximately $1.5 billion.
Colin Hamilton, global head of commodities research at Macquarie, says iron ore prices need to fall to compensate for oversupply, and warns companies should start exiting the sector.
Gaurav Sodhi, resources analyst at Intelligent Investor, says it is inevitable for junior miners to go bust because there must be a contraction with iron ore supply before prices can rebound.
As mine safety regulation grows stricter, one Pennsylvania-based company is forced to move some Amish workers from their posts.
Alcoa reported a mixed quarter on Wednesday, beating expectations on earnings, but missing on revenue.