MARKET CURRENTS
real-time news and commentary for investors
MARKET CURRENTS
Flip Order
-
Wednesday, May 22
-
5:18 PM Barrick Gold (ABX) is considering shrinking in size as it focuses on returns over production volumes, CEO Jamie Sokalsky says. Shrinkage makes sense for ABX, Stifel Nicolaus says, adding selling the company’s Australian assets would be a good place to start: "In order to have better managerial control, you’re better off with fewer but much larger assets, preferably in the same north-south time zones.” 3 Comments
-
3:59 PM Prospects for gold mining stocks (GDX +1.2%) could be turning around at least in the short term, MKM Partners' Katie Stockton says. She would consider adding some exposure to take advantage of a short-term relief rally within the downtrend, adding "the trade is likely to play out in the near term or not at all, so we expect to know if it is working in the next week or two." 8 Comments
-
3:27 PM Terex (TEX -2.3%) gives back all the love plus more from an earlier Barclays upgrade to Overweight. The bank says that despite the stock recent 20% runup this month, it sees more upside from its consistent execution, leverage to an improving crane cycle and still-positive trends in the aerial-work-platform space. Comment!
-
2:17 PM Up as high as $1,413 following Bernanke's (at the time) perceived dovish testimony this morning, gold (GLD -0.9%) reverses along with stocks. Markets make opinions, and now the focus on Bernanke is he's prepping the markets for tapering. The just-released FOMC minutes push down gold even further, now at $1,357/oz. 9 Comments
-
9:16 AM Outflows from gold ETPs of 10.27 metric tons YTD have surpassed the combined inflows of the previous 2 years, according to Bloomberg. One portfolio manager notes the outflows about equal the amount mined, meaning new supply has doubled this year. "The market has a lot of metal to absorb." GLD +1.3% premarket. 10 Comments
-
9:06 AM Freeport Indonesia (FCX) remains uncertain when it will restart operations following last week's mining accident, news that has helped push copper prices up 2% in global markets. FCX says it is losing production of ~220K metric tons/day of concentrated ore since the tunnel collapse that killed 28 people. Comment!
Other date
Latest Commodities Articles
