U.S. stocks fell on Friday after data showing stronger-than-expected new home sales last month raised concern about the outlook for interest rates.
A rise in crude oil prices added to the negative tone
Read Full Article at Reuters South Africa
Friday, January 26, 2007
US stock market starts higher on durables, Caterpillar
U.S. stocks rebounded on Friday after a stronger-than-expected forecast from Caterpillar Inc. and data showing orders for durable goods above Wall Street estimates.
The Dow Jones industrial average was up 14.42 points, or 0.12 percent, at 12,516.98. The Standard and Poor's 500 Index was up 1.01 points, or 0.07 percent, at 1,424.91. The Nasdaq Composite Index was up 6.86 points, or 0.28 percent, at 2,441.10
Read Full Article at Reuters South Africa
The Dow Jones industrial average was up 14.42 points, or 0.12 percent, at 12,516.98. The Standard and Poor's 500 Index was up 1.01 points, or 0.07 percent, at 1,424.91. The Nasdaq Composite Index was up 6.86 points, or 0.28 percent, at 2,441.10
Read Full Article at Reuters South Africa
Kumba 2-month headline profit seen at R250-R275 mln
Africa's biggest iron ore producer, Kumba Iron Ore, said on Friday it expects headline earnings for the two months to the end of December 2006 to be between 250 million rand and 275 million rand.
Basic earnings for the two months are expected to be between 350 million and 400 million rand, Kumba said in a statement.
Kumba said headline and basic earnings have been hit by about 150 million rand in once-off costs due to an empowerment transaction that saw Kumba Resources Ltd split into Kumba Iron Ore and Exxaro Resources Ltd.
Headline earnings, the main profit measure in South Africa, strip out non-trading, capital and certain extraordinary items.
Read Full Article at Reuters South Africa
Basic earnings for the two months are expected to be between 350 million and 400 million rand, Kumba said in a statement.
Kumba said headline and basic earnings have been hit by about 150 million rand in once-off costs due to an empowerment transaction that saw Kumba Resources Ltd split into Kumba Iron Ore and Exxaro Resources Ltd.
Headline earnings, the main profit measure in South Africa, strip out non-trading, capital and certain extraordinary items.
Read Full Article at Reuters South Africa
Rising stocks weigh on copper, outlook brighter
Rising stocks knocked copper market sentiment on Friday, but analysts say expectations of strong demand growth from China will underpin the metal and possibly push prices back above $6,000 over coming days.
Nickel for three-month delivery on the London Metal Exchange touched a new all-time high of $38,950 a tonne on worries about low stocks and supply shortages, while tin was hovering below this week's record high of $12,500 a tonne.
Three-month copper was by 1105 GMT was quoted down at $5,800/5,820 a tonne from $5,850 on Thursday, when it touched a two-week high of $5,910.
Stocks of copper in LME warehouses rose 4,325 tonnes to 207,700 tonnes, more than double the levels seen last January.
Read Full Article at Reuters South Africa
Nickel for three-month delivery on the London Metal Exchange touched a new all-time high of $38,950 a tonne on worries about low stocks and supply shortages, while tin was hovering below this week's record high of $12,500 a tonne.
Three-month copper was by 1105 GMT was quoted down at $5,800/5,820 a tonne from $5,850 on Thursday, when it touched a two-week high of $5,910.
Stocks of copper in LME warehouses rose 4,325 tonnes to 207,700 tonnes, more than double the levels seen last January.
Read Full Article at Reuters South Africa
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Read Full Article at investopedia.com
As you test the waters to find the right financial advisor for you, you'll need to have a grasp on the areas in which you are seeking help. You'll then be able to examine your potential financial advisor before you hire them and determine exactly how skilled they are in the areas for which you are seeking assistance.
Read Full Article at investopedia.com
Anglo American seeks Philippine mining permits
Anglo American Plc, the world's third biggest mining group, has joined the rush to discover new Philippine mines by seeking permits to explore in a dozen areas in the country, a source close to the firm said on Friday.
Anglo, which has a joint venture with local firm Philex Mining Corp. in the Boyongan copper project in the southern Philippines, is also in joint venture talks with Manila Mining Corp. to explore an adjacent property called Bayugo.
The company is also set to start exploration of its Manmanok copper-gold project in the northern Philippines next month, the source, who asked not to be identified, said
Read Full Article at Reuters South Africa
Anglo, which has a joint venture with local firm Philex Mining Corp. in the Boyongan copper project in the southern Philippines, is also in joint venture talks with Manila Mining Corp. to explore an adjacent property called Bayugo.
The company is also set to start exploration of its Manmanok copper-gold project in the northern Philippines next month, the source, who asked not to be identified, said
Read Full Article at Reuters South Africa
FTSE down as commodities and Wall St drag
The FTSE 100 of Britain's leading shares was down 0.4 percent on Friday, dragged lower by commodities and after U.S. stocks fell sharply following weaker payroll and existing homes sales figures on Thursday.
With U.S. crude oil prices at below $55 after a 2 percent fall the previous day, heavyweight oil stocks dragged the FTSE 100 down. BP and Royal Dutch Shell both dipped 0.5 percent.
Mining stocks also featured on the downside, on economic worries and falling base and precious metals. BHP Billiton dropped 1.5 percent, Rio Tinto fell 1.4 percent and Kazakhmys lost 1 percent.
Read Full Article at Reuters South Africa
With U.S. crude oil prices at below $55 after a 2 percent fall the previous day, heavyweight oil stocks dragged the FTSE 100 down. BP and Royal Dutch Shell both dipped 0.5 percent.
Mining stocks also featured on the downside, on economic worries and falling base and precious metals. BHP Billiton dropped 1.5 percent, Rio Tinto fell 1.4 percent and Kazakhmys lost 1 percent.
Read Full Article at Reuters South Africa
Foreign frenzy for SA property
Coastal property sales from the West Coast to Knysna this festive season wiped out all signs of a cooling property market.
Property sales along the Atlantic Seaboard were especially characterised by foreign interest.
Read Full Article at FIN24.co.za
Property sales along the Atlantic Seaboard were especially characterised by foreign interest.
Read Full Article at FIN24.co.za
Oil steady below $55, weighs mixed weather outlook
Oil prices stood below $55 on Friday after a 2 percent fall the previous day, as traders pondered the length of the current cold snap in the United States that has helped lift prices by some $2.50 this week.
U.S. light crude for March delivery was up 25 cents at $54.48 a barrel by 0748 GMT, after a $1.14 slide on Thursday, on concerns that the recent frosty weather in the U.S. would not last long enough to bring distillates inventories down. The drop came after a $2.79 gain over the past two days.
Prices earlier reached $55.90 on Thursday, the highest level since $56.20 touched on January 9.
Read Full Article at Reuters South Africa
U.S. light crude for March delivery was up 25 cents at $54.48 a barrel by 0748 GMT, after a $1.14 slide on Thursday, on concerns that the recent frosty weather in the U.S. would not last long enough to bring distillates inventories down. The drop came after a $2.79 gain over the past two days.
Prices earlier reached $55.90 on Thursday, the highest level since $56.20 touched on January 9.
Read Full Article at Reuters South Africa
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