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Wall Street looked set for a quiet start and Europe's main stock markets were shuffling sideways as the dip in global bond yields cooled bank stocks, which have been rising on hopes higher yields will led to better lending profits. "The momentum of the Trump rally (in bond yields and the dollar) has faded a bit so we are all trying to recover," said Rabobank strategist Philip Marey. Trump was set for meeting with Japanese Prime Minister Shinzo Abe in New York while in her first comments since last week's election, Federal Reserve chief Janet Yellen said the case for a rate hike has strengthened.
Europe's main stock markets saw a subdued start as the dip in benchmark bond yields knocked banking stocks that have rallied since the rebound in yields has fuelled optimism about lending profits. "The momentum of the Trump rally (in bond yields and the dollar) has faded a bit so we are all trying to recover," said Rabobank strategist Philip Marey. For bond markets that have taken the brunt of the Trump trade, the most significant event overnight was the Bank of Japan's attempt to cap 10-year Japanese government bond yields and make good its recent promise to keep 10-year yields pinned to zero.
U.S. Treasury yields eased on Thursday as a week-long surge that followed Donald Trump's shock election win subsided further, dragging the dollar off a 13-1/2 year peak set overnight and nudging Asian stocks a touch higher. Japanese government bond yields also fell back from multi-month highs after the Bank of Japan conducted a special fixed-rate bond buying operation for the first time, firing a warning shot against excessive yield moves. The dollar index, which measures the greenback's strength against a basket of major currencies, stood at 100.280 after climbing to 100.570 overnight, its highest since April 2003.
A pause in both the sell-off in global bonds and sharp rise in the dollar following Donald Trump's election victory, together with Wall Street's record high overnight helped Asian shares steady on Wednesday. U.S. President-elect Trump's plans to cut taxes and boost infrastructure spending would boost demand while his proposals to deport illegal immigrants and impose tariffs on cheap imports, if implemented, are seen likely to drive inflation higher.
The flurry of buying on physical markets mostly took place in Europe, after Trump's victory was declared, when the price of spot gold surged by nearly 5 percent to a six-week high of $1,337.40 an ounce. Gold (Other OTC: GDCWF - news) gave up gains during U.S. trading and turned slightly negative, as the dollar moved higher and Wall Street stocks rose sharply. "Overnight, there has been a tremendous increase in our sales," said Oliver Heuschuch, head of trading for Degussa's gold business, one of the biggest German physical dealers.
Financial markets have recovered their poise after an initial spell of turmoil when it became clear Donald Trump had won the US election. US and European stock markets closed higher - defying pre-vote ...
U.S. stock index futures were sharply lower early on Wednesday but well off overnight lows, as a market that had been anticipating an election victory by Democrat Hillary Clinton scrambled to adjust to an upset win by Republican Donald Trump. Trump campaigned strongly on taxing imports from Mexico and China and building a wall on the southern border for which Mexico would pay.
MANILA/LONDON, Nov 9 (Reuters) - Gold held near six-week highs on Wednesday, while other markets calmed down after swinging wildly following Donald Trump's shock victory over Hillary Clinton in the White House race. Oil prices began to steady in Europe alongside the U.S. dollar, Mexican peso and stocks, having been hammered as Trump swept to victory. Trump appeared with his family before cheering supporters in New York, saying it was time to heal the divisions caused by the campaign and find common ground after a campaign that exposed deep differences among Americans.
"US monetary policy would be expected by many to remain looser for longer in the event of a win for Trump," said John Higgins at Capital Economics
Global equity markets slipped on Friday on investor fears about the outcome of Tuesday's U.S. presidential election, while oil prices fell on worries about surging inventories and whether OPEC members will adhere to planned production limits. Election-related jitters sent the U.S. dollar to a more than one-month low against the safe-haven Swiss franc, while weakness in oil prices raised concerns about low inflation and pushed U.S. Treasury prices higher. The S&P 500 ended lower for a ninth straight day, the longest losing streak for the benchmark index in more than 35 years, as investors stayed on edge ahead of the uncertain U.S. election.
Global equity markets were jittery on Friday, even as Wall Street clung to modest gains as investors looked past worries about the outcome of the U.S. presidential election to snap an eight-day losing streak. Oil prices remained weak on skepticism about whether OPEC members will adhere to planned production limits, boosting concerns about low inflation and sending U.S. Treasury prices higher.
Tanzania plans to further tighten controls on its mining sector to ensure that the country maximises the benefits from its wealth of natural resources, President John Magufuli said on Friday. Africa's fourth-largest gold producer also has vast deposits of natural gas, coal, diamonds, uranium and gemstones. "Tanzania has a lot of minerals, but there have been a lot of funny deals ... we have to look carefully at our laws so that we move forward as a country," Magufuli told a news conference at State House in the country's commercial capital, Dar es Salaam.
Global equity prices drifted lower on Thursday as worries about the U.S. presidential election continued to weigh on investor sentiment, while sterling rose after a UK court ruled that the British government needed Parliament's approval to trigger Brexit. Longer-dated U.S. Treasury prices slipped after the Bank of England indicated that inflation is likely to rise further, and oil prices remained weak on skepticism about OPEC's planned production limit. The S&P 500 fell for an eighth straight session, its longest losing streak since the 2008 financial crisis, as Facebook shares weighed and investors grappled with uncertainty over next week's U.S. election.
Global equity prices, rattled by worries about the U.S. presidential election, steadied on Thursday after a UK court ruled that the British parliament must approve a government decision to trigger Brexit, lifting the pound to a three-week high. U.S. Treasury prices slipped after the Bank of England scrapped plans to cut interest rates and projected higher inflation, while oil prices remained weak.
One of Burkina Faso's largest gold mines, already halted after bailiffs acting on behalf of ex-workers seized some of its gold early last month, will be shut for at least four more days, its London-based owner said. Operations at Avocet Mining LPC's Inata Mine have been halted since Oct (Shenzhen: 000069.SZ - news) . 27 after the bailiffs seized 1,400 ounces of gold at Ouagadougou airport, the company said.
Randgold Resources Ltd said on Thursday it was on track to raise dividends by the end of the year and to support three new projects should gold prices stay near current levels. After three years of losses spot gold is up 23 percent so far in 2016 as global economic and political concerns benefited the safe-haven asset. "If the gold price stays above $1,250 per ounce, and we deliver on our forecasts, we should get close to a $500 million net cash position at the year end," Chief Executive Mark Bristow said in a statement.
Asian equities have tumbled and European markets close down as a poll showing Donald Trump overtaking market favourite Hillary Clinton in the race for the White House flames fears about future US economic ...
Global equity prices and the dollar slid for the second straight day on Wednesday, while safe-haven assets such as gold rallied as investors shunned risk in response to signs the U.S. presidential race was tightening just days before the vote. Uncertainty about the outcome of the Nov. 8 election pushed U.S. Treasury yields to their lowest in a week, while oil prices slumped on data showing a record U.S. crude stock build that stoked worries about a persistent global supply glut. Investors were beginning to rethink their long-held bets of a victory for Democratic candidate Hillary Clinton amid signs her Republican rival Donald Trump could be closing the gap, deepening the recent decline across major stock markets.
Global equity prices and the dollar slid for the second straight day on Wednesday, while safe-haven assets such as gold rallied as investors shunned risk in response to signs the U.S. presidential race ...
LONDON, Oct (Shenzhen: 000069.SZ - news) 31 (Reuters) - The dollar steadied but stock markets remained wobbly on Monday after news the FBI was investigating more emails linked to Hillary Clinton's use of a private server while she was secretary of state. The weakest German retail sales in two years, a dip in oil prices and one of the toughest month in years for bond markets all made for a shaky session in Europe, where the STOXX 600 index dropped 0.4 percent. Wall Street looked set for a subdued restart too, having been hit by the news of the FBI moves on Friday, though a string of M&A deals including one involving the oil and gas arm of General Electric (Euronext: GNE.NX - news) provided some support.