Please wait...

Reuters News

Colombian central bank may hold rate amid global uncertainty

October 30, 2014 - reuters.com

By Helen Murphy and Nelson Bocanegra BOGOTA, Oct 30 (Reuters) - Colombia's central bank will likely continue to pause its monetary tightening cycle on Thursday as it looks to bolster economic growth amid an uncertain global environment and benign inflation pressures. The seven-member board will leave the benchmark rate at 4.5 percent, 31 of 32 analysts forecast in a Reuters poll. The board, which began meeting today at 8:30 a.m. in Bogota (13:30 GMT), left the rate steady last month after raising it from 3.25 percent in a series of hikes starting in April. The last move was a quarter-point increase to 4.5 percent in August. Inflation is forecast by the central bank to end 2014 slightly higher than the mid-point of the 2-4 percent target, a level policy makers are comfortable with even though its above a near 50-year low of 1.94 percent in 2013. Meanwhile, economic growth is expected to slow to 4.5 percent in the second half from 5.4 percent in the first half. "This will be an easy meeting because the center of discussion will be focused on the external situation," said Francisco Chaves, chief economist at Corredores Asociados. "The global slowdown and the drop in oil prices didn't have the same weight a month ago, so there's likely to be more of an aroma of unanimity in holding the rate this time," he added. The bank has raised concerns recently about the global economy, highlighting how other nations could impact Colombia. A recovery in the United States comes as China, Europe and other Latin American nations are slowing, and trade terms could deteriorate along with a drop in oil prices, it said. The U.S. Federal Reserve on Wednesday ended its bond purchase program, a show of confidence its economy is on the mend. While U.S. rates are expected to remain low for some time, improvement in its economy will help bolster Colombian growth. Last month, one member of Colombia's board voted to raise the rate a quarter point to damp inflationary pressures that could come if economic expansion quickens in the coming months, the minutes of that meeting showed. Even so, most analysts in the Reuters survey expect the rate to be held through 2014. "Those thinking of a rate increase are probably more relaxed now with the current level," Chaves said. Board member Carlos Gustavo Cano said on Oct. 8 that the rate could be left at 4.5 percent "hopefully for the longest time possible." Policymakers have also expressed concern about Colombia's revenue stream as crude output and prices decline. Economic expansion slowed to 4.3 percent in the second quarter from 4.5 percent a year earlier. It shrank compared with the first three months of the year. "With activity growing at what we believe is its potential, and with inflation expectations under control, the central bank should now be able to remain on hold for 2015," said Munir Jalil, chief economist at Citigroup Colombia, revising his rate estimate for the end of 2015 from 5 percent. The central bank sees the economy expanding around 5 percent this year, versus 4.7 percent in 2013. (Reporting by Helen Murphy; Editing by Alan Crosby) ((helen.murphy@thomsonreuters.com)(+571-634-4139)(Reuters Messaging: helen.murphy.reuters.net@reuters.com)) Keywords: COLOMBIA RATES/

Sri Lanka rupee ends steady on remittances, cbank suasion

October 30, 2014 - reuters.com

COLOMBO, Oct 30 (Reuters) - The Sri Lankan rupee ended steady Thursday on higher remittances and offloading of dollars by exporters even as the central bank prevented the local currency from dipping below 131.00, dealers said. The spot currency LKR=LK ended the day at 130.85/90 per dollar, almost flat from Wednesday's closing level of 130.80/131.00. It was largely untraded last week on moral suasion by the central bank. Dealers said the three-day forwards or spot next was actively traded in the absence of spot, finishing at 130.90/131.00 per dollar compared to Wednesday's 130.95/131.05 at close. "Exporters were selling dollars in the market after waiting for a long time. I think they would have realised the central bank is not going to allow the rupee to trade below the 131.00 level," a currency dealer said asking not to be named. The central bank has dissuaded any spot trade in the rupee below 130.85 this week, dealers said. Sri Lanka's central bank governor Ajith Nivard Cabraal said earlier in the week that the trend was for an appreciating rupee, without elaborating. (Reporting by Shihar Aneez; Editing by Biju Dwarakanath) ((shihar.aneez@thomsonreuters.com; +94-11-232-5540; Reuters Messaging: shihar.aneez.thomsonreuters.com@reuters.net twitter:@shiharaneez)) Keywords: MARKETS SRI LANKA/FOREX

PRECIOUS-Gold dips below $1,200/oz after upbeat Fed statement

October 30, 2014 - reuters.com

* Gold slides after Fed shows confidence in economy * Holdings of largest gold ETF fall to six-year low * Silver prices fall to lowest in 4-1/2 years (Updates prices) By Jan Harvey LONDON, Oct 30 (Reuters) - Gold prices dipped below $1,200 an ounce on Thursday and silver slid to a 4-1/2 year low after the Federal Reserve ended its bond-buying stimulus programme with unexpectedly upbeat comments about the economy. Spot gold XAU= fell as low as $1,199.90 an ounce and was down 0.6 percent at $1,204.20 an ounce at 1249 GMT. U.S. December gold futures GCv1 were down $20.70 at $1,204.20. Silver XAG= was down 2.3 percent at $16.65 an ounce, having earlier hit its lowest since March 2010 at $16.54. The Fed statement on Wednesday sent the dollar to its highest since Oct. 6, while U.S. interest rate futures shifted to show better-than-even chances of a rate rise next September. Previously, they had indicated a rise in October. That dented interest in gold, which as a non-yielding asset tends to benefit from ultra-low rates. "I'm not saying that we're going to get a higher interest rate environment any time soon, but the signals are there," Simon Weeks, head of precious metals at the Bank of Nova Scotia, said. "$1,200 might hold today, but overall I think it will be broken, and we'll look at that double bottom at $1,180 again." Gold, which hit a 15-month low of $1,183.46 earlier this month -- a level it bounced off in 2013 -- fell 1.3 percent on Wednesday after the Fed statement was released. The U.S. central bank largely dismissed financial market volatility, a slowdown in Europe and a weak inflation outlook as factors that might limit progress towards its unemployment and inflation goals. ID:nL1N0SO24I Ending its monthly bond purchases, the bank dropped a characterisation of U.S. labour market slack as "significant" in a show of confidence in the economy's prospects. Commerce Department data showed on Thursday that a smaller trade deficit and a surge in defense spending buoyed U.S. growth in the third quarter, though other details of Thursday's report hinted at some loss of momentum. ID:nLNNULEA31 <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ GRAPHIC-2014 commod returns: http://link.reuters.com/reb25t GRAPHIC-Gold/USD correlation: http://r.reuters.com/ryx52s GRAPHIC-Plat/palladium ratio: http://link.reuters.com/qub87s ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> SUPPORT AT $1,200/oz Although gold prices are expected to find good support at $1,200 an ounce, a key psychological chart level, analysts said downward momentum remains strong. "Overwhelming bearish pressures weigh on the metal, with both technical and fundamental indicators pointing lower," UBS said in a note. "(That could take) the price towards significant support at 1183.23, (the) October low, which also coincides with December 2013 low." In a reflection of investor sentiment, the world's largest gold-backed exchange-traded fund, SPDR Gold Trust GLD , said its holdings fell 1.2 tonnes to 742.40 tonnes on Wednesday, a six-year low. GOL/ETF The fund reported its biggest weekly outflow this year last week. The outflows could undermine any possible rally in gold. In the physical markets, too, buying interest fell. Premiums in top consumer China were about $1-$1.50 an ounce on Thursday, down from about $2 on Wednesday. "With the heightened negative sentiment, we expect to see even more scaled-up selling from the speculative community as well as producers who have been active on rallies over the last few weeks," MKS Group said in a note. Among other precious metals, spot platinum XPT= was down 0.6 percent at $1,246.50 an ounce, while spot palladium XPD= fell 0.4 percent to $786.25 an ounce. (Additional reporting by A. Ananthalakshmi in Singapore, editing by William Hardy and David Clarke) ((jan.harvey@thomsonreuters.com)(+44)(0)(207 542 7744)(Reuters Messaging: jan.harvey.thomsonreuters.com@reuters.net)) Keywords: MARKETS PRECIOUS/

IMF says additional monetary easing in Poland may be needed

October 30, 2014 - reuters.com

WARSAW, Oct 30 (Reuters) - Poland may need to undertake additional monetary easing to bring inflation to its 2.5 percent target, the International Monetary Fund said on Thursday. "Recent interest rate cuts are welcome, yet downside risks to inflation persist amid slowing activity and disinflation in the euro area and unresolved geopolitical tensions surrounding Russia/Ukraine," the IMF said in a concluding statement after a regular mission to Poland. "High interest rate differentials with the euro area and emerging market peers and continued monetary policy easing in the euro area forge space for a further policy interest rate cut," a concluding statement of IMF staff visit reads. Poland cut rates this month to 2.0 percent, their lowest level in history. (Reporting by Marcin Goettig; Writing by Marcin Goclowski; Editing by Christian Lowe) ((marcin.goclowski@thomsonreuters.com; +48 22 6539724; Reuters Messaging: marcin.goclowski.reuters.com@thomsonreuters.net)) Keywords: POLAND RATES/IMF

UPDATE 1-Goldcorp sees 2014 production at low end of range

October 30, 2014 - reuters.com

(Recasts first paragraph, adds production costs, sales, forecasts, background) TORONTO, Oct 30 (Reuters) - Goldcorp Inc G.TO , the world's biggest gold producer by market value, said problems at two of its mines in Mexico will push 2014 production to the low end of its forecast, but a cost-cutting drive has delivered bigger savings than expected. Goldcorp reported a third-quarter net loss on Thursday, as gold prices fell and it took a $36 million, or 4 cent per share, writedown on the value of low-grade stockpiles at its Penasquito mine in Mexico. The Vancouver, British Columbia-based company reported a net loss of $44 million, or 5 cents a share, in the quarter ending Sept. 30, compared to net earnings of $5 million, or 1 cent per share, in the same period a year ago. Adjusted earnings declined to $70 million, or 9 cents a share, from $190 million, or 23 cents a share. All-in sustaining costs per ounce rose to $1,066 in the quarter, from $995 in the same period last year. Goldcorp produced 651,700 ounces of gold and sold 641,400 ounces in the quarter, compared with year-earlier production of 637,100 ounces and sales of 652,100 a year earlier. The average realized gold price fell to $1,266 an ounce in the quarter, from $1,339 an ounce. Goldcorp said it has realized $185 million in savings over the last nine months, ahead of its $100 million target for the year. That will keep 2014 all-in sustaining costs to the low end of a forecast range of $950 to $1,000 per ounce. "We expect to meet our 2014 production guidance, but the lower-than-expected production at El Sauzal due to pit wall instability and the second-quarter stoppage at Los Filos will cause gold production to be at the low end of our previously guided range of between 2.95 million and 3.1 million ounces," Chief Executive Chuck Jeannes said in a statement. Mining at El Sauzal was halted last month as a safety precaution, while operations were suspended at the Los Filos mine for about a month in April because of a dispute with a group of local landowners. ID:nL1N0R32FV ID:nL1N0MU15G (Reporting by Susan Taylor Editing by W Simon and Alden Bentley) ((susan.taylor1@thomsonreuters.com; +1 416 941 8083; Reuters Messaging: susan.taylor1.thomsonreuters.com@reuters.net)) Keywords: GOLDCORP RESULTS/

UPDATE 3-Protesters march on Burkina presidency after burning parliament

October 30, 2014 - reuters.com

* Government abandons plans to extend presidential limit * Emergency services say at least three protesters shot dead * Demonstrators demand Compaore step down * Opposition leader says he is not in favour of a coup (Adds government abandoning plans for reform, shootings) By Mathieu Bonkoungou and Joe Penney OUAGADOUGOU, Oct 30 (Reuters) - Thousands of protesters marched on Burkina Faso's presidential palace after burning the parliament building and ransacking state television offices on Thursday, forcing President Blaise Compaore to scrap a plan to extend his 27-year rule. Emergency services said at least three protesters were shot dead and several others wounded by security forces when the crowd tried to storm the home of Compaore's brother. Security forces also fired live rounds and tear gas at protesters near the presidency in the Ouaga 2000 neighbourhood. Black smoke swirled in the air above parliament after demonstrators lit fires inside the building before looting computers and televisions screens and wheeling away police motor-bikes, a Reuters reporter said. Lawmakers had been due to vote on Thursday on a government plan to change the constitution to allow Compaore - who took power in a coup in 1987 - to stand for re-election next year, when he was due to stand down. Alain Edouard Traore, communications minister, later said the government had dropped the proposal to amend a two-term limit on the presidential mandate. But protesters told Reuters they would not stop until Compaore was forced to step aside. Burkinabe officials said there were also large-scale protests in Bobo Dioulasso, Burkina's second biggest town, and Ouahigouya, to the north. "We did this because Blaise was trying to stay too long. We are tired of him," said Seydou Kabre, a protester in the crowd in Ouagadougou. "We want a change. He must go!" Most deputies had not yet arrived for the vote when protesters, who had set up barricades outside parliament from early on Thursday, stormed the building. The crowd surged forward after police fired warning shots in the air. A Reuters reporter saw nearby structures also on fire and vehicles outside the parliament being smashed. State television was forced off the air after the building was taken. Soldiers deployed outside state radio with an armoured personnel carrier to defend it from the crowd. Opposition leader Zephirin Diabre said on his Twitter feed he was opposed to any coup in Burkina Faso just hours after he had urged armed forces to join the people in a speech broadcast live from his headquarters. Local radio and a diplomatic source said opposition leaders held talks with an influential army General Kouame Lougue about a possible transition. The same diplomatic source said members of Compaore's government had been arrested at the airport trying to leave the country. A Reuters witness said protesters took one of the dead bodies from the streets and wrapped it in the national flag, while softly singing Burkina's anthem. They then drove it to the central Place de la Nation, where more protesters had gathered. INCREASING OPPOSITION Compaore has ruled the cotton and gold-producing nation with a firm grip but, in recent years, he has faced increasing criticism, including from within his own camp and the military. "If needs be we are going to march to the presidency. We want Blaise Compaore to leave, We want change," said George Sawadogo, a 23-year-old student. Opposition to Compaore's plan have been mounting in recent days. Hundreds of thousands of people took to the streets of Ouagadougou and other towns across the country on Tuesday in what the opposition said was the start of a campaign of civil disobedience over the proposed constitutional reform. The government has called for restraint. "This seems to have moved us to a situation where Compaore will have to leave power before the end of his term next year," said Gilles Yabi, an independent West Africa analyst. "It will depend on how the security forces react, but I can't imagine that Blaise will be able to finish his term if there is serious violence today." France has called on Compaore to adhere to African Union rules preventing constitutional changes that allow leaders to stay in power. The U.S. government has said it is concerned. "All bets are off now," said one Western diplomat in Ouagadougou, who asked not to be identified. (Additional reporting by David Lewis and Bate Felix in Dakar, Joe Bavier and Ange Aboa in Abidjan; Writing by Daniel Flynn, editing by Andrew Heavens) ((david.lewis2@thomsonreuters.com; Dakar Newsroom +221 338645076; Reuters Messaging: david.lewis2.thomsonreuters.com@reuters.com)) Keywords: BURKINA POLITICS/

Brazil's Vale CEO says close to making coal-project announcement

October 30, 2014 - reuters.com

RIO DE JANEIRO, Oct 30 (Reuters) - Brazilian mining company Vale SA VALE5.SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on Thursday during a conference call with investors without providing details. Vale, the world's largest iron ore producer, has previously said it is trying to sell a stake in its Moatize coal mine, rail and port project in Mozambique. Rio de Janeiro-based Vale, which reported a surprise $1.44 billion third-quarter loss earlier on Thursday also said high-cost iron ore producers are not closing mines as quickly as expected. Still, iron-ore chief Jose Carlos Martins said during the call that the 40 percent plunge in the price of the main steelmaking ingredient this year had caused 50 million to 60 million tonnes of high-cost iron ore production to leave the market. (Reporting by Stephen Eisenhammer; Writing by Jeb Blount) ((Jeb.Blount@thomsonreuters.com; +55-21-2223-7143; Reuters Messaging: jeb.blount.thomsonreuters.com@reuters.net)) Keywords: VALE SA RESULTS/COAL

Chile central bank says 3rd-qtr growth likely to be slowest this year

October 30, 2014 - reuters.com

SANTIAGO, Oct 30 (Reuters) - Chile's economy is likely to expand in third quarter at its slowest pace this year but should pick up its pace of growth during the final three months of 2014, Central Bank President Rodrigo Vergara said on Thursday. (Reporting by Felipe Iturrieta; Writing by Anthony Esposito) ((anthony.esposito@thomsonreuters.com)(Twitter: @ReutersChile)(; +562-2370-4253; Reuters Messaging: anthony.esposito.thomsonreuters.com@reuters.net)) Keywords: CHILE CENBANK/ECONOMY

TABLE-NSE Currency Futures traded on Oct 30

October 30, 2014 - reuters.com

SNAPSHOT-India stocks, bonds, rupee, swap, call at close

October 30, 2014 - reuters.com

STOCKS .BSESN .NSEI ----------------------- The benchmark BSE index ended up 0.92 percent, marking its highest-ever closing level, and the broader NSE index closed 0.97 percent higher, rising for eight sessions in nine, as investors bet an improving economy and government reforms would allow the country to better withstand potential rate hikes by the U.S. Federal Reserve than other emerging markets. .BO RUPEE INR=D2 -------------- The partially convertible rupee ended weaker at 61.45/46 per dollar against its previous close of 61.35/36, falling for a third consecutive session as the dollar got a boost after the U.S. Federal Reserve struck a more hawkish tone than expected at its policy meeting on Wednesday. INR/ GOVERNMENT BONDS IN084024G=CC ------------------------------- The benchmark 10-year bond yield ended down 3 basis points at 8.29 percent, with bonds marking a 13-month high on hopes recent government reforms and likely rate cuts by the country's central bank would help offset any impact of an earlier-than-expected increase in U.S. interest rates. IN/ INTEREST RATE SWAPS INROIS MIOIS= ------------------------------------- The benchmark five-year swap rate ended flat at 7.50 percent, while the one-year rate closed 2 basis points higher at 8.10 percent. CALL MONEY INROND= -------------------- India's cash rate ended at 8.10/8.15 percent, higher than the previous day's close of 7.90/8.00 percent. (Compiled by Dipika Lalwani) ((dipika.lalwani@thomsonreuters.com; +91-22-6180-7098; Reuters Messaging: dipika.lalwani.thomsonreuters.com@reuters.net)) Keywords: INDIA SNAPSHOT/

Goldcorp reports third-quarter loss, writedown

October 30, 2014 - reuters.com

TORONTO, Oct 30 (Reuters) - Goldcorp Inc G.TO reported a third-quarter net loss on Thursday, as gold prices fell and it took a $36 million writedown on the value of low-grade stockpiles at its Penasquito mine in Mexico. Goldcorp, the world's biggest gold producer by market value, reported a net loss of $44 million, or 5 cents a share, in the quarter ending Sept. 30, compared to net earnings of $5 million, or 1 cent per share, in the same period a year ago. Adjusted earnings declined to $70 million, or 9 cents a share, from $190 million, or 23 cents a share. (Reporting by Susan Taylor Editing by W Simon) ((susan.taylor1@thomsonreuters.com; +1 416 941 8083; Reuters Messaging: susan.taylor1.thomsonreuters.com@reuters.net)) Keywords: GOLDCORP RESULTS/

UPDATE 3-Barclays sets aside $800 mln for FX fines as profits rise

October 30, 2014 - reuters.com

* Bank makes provision to settle UK, US foreign exchange probes * Q3 adjusted profit up 15 pct to 1.6 billion pounds * Investment bank profits slump 39 pct on year * Costs fall to lowest quarterly level for 5 years * Shares flat as retail, credit card arms improve (Adds comments from finance director, details) By Steve Slater LONDON, Oct 30 (Reuters) - Barclays Plc BARC.L set aside 500 million pounds ($800 million) in the third quarter to cover potential fines for rigging currency markets, taking the shine off a rise in profits as its retail business performed well and costs were cut. The British bank on Thursday joined other big rivals in signalling that a settlement over alleged manipulation of the $5.3 trillion-a-day foreign exchange market is near with regulators in both the United Kingdom and the United States. "These are ongoing discussions with certain regulatory agencies and it's our best estimate of what we feel is the provision required as a consequence. The discussions are fluid and they are continuing," Barclays Finance Director Tushar Morzaria told reporters, declining to comment further. Barclays is one of six banks in talks with UK regulators to pay about 1.5 billion pounds in a group settlement, sources have said. They said a deal could come in mid-November and U.S. regulators were also working on a group payment. ID:nL6N0RR2EC JPMorgan JPM.N , UBS UBSN.VX and Deutsche Bank DBKGn.DE each set aside more than $1 billion in the third quarter for extra legal costs, which sources have said is mostly to cover potential fines relating to currency market investigations. Royal Bank of Scotland RBS.L and HSBC HSBA.L are expected to make provisions on Friday and Monday respectively. Past conduct problems continue to dog Barclays Chief Executive Antony Jenkins as he tries to improve profitability, standards and conduct by shrinking the investment bank, slashing costs and axing underperforming units. Barclays is shifting to become more reliant on retail banking, rather than more volatile investment banking. The bank said costs in the third quarter fell to their lowest level for five years, and were down 7 percent so far this year. Barclays has cut 7,800 jobs in the last 12 months out of 19,000 it expects to axe by the end of 2016. Its shares were down 0.5 percent at 219.4 pence by 1140 GMT, outperforming a 1.9 percent drop by Europe's banking index .SX7P . Analysts said the cost cuts, the performance of its retail bank and its credit card arm, Barclaycard, were good. "Barclays' transition from investment banking towards retail banking continues, with the three retail divisions accounting for 80 percent of third-quarter core profitability," said Andrew Coombs, analyst at Citi, who rates Barclays' shares a "buy". COST CUTS Barclays reported underlying pretax profit in the three months to the end of September of 1.6 billion pounds, up 15 percent from a year before. Retail banking profits rose 11 percent from a year ago and at Barclaycard they climbed 16 percent, but investment banking profits slumped 39 percent to 284 million pounds. Investment bank revenues dropped 10 percent in the quarter from a year ago as fixed income, equities and advisory income all fell. Its drop in revenue contrasted with a 17 percent increase on average across the big U.S. investment banks. "We see Q3 results as a clear indication of a deleveraging investment bank under significant pressure -- especially in businesses such as prime services and equities which have been impacted by dark pools, deleveraging repo books and a cost focus from management," said Chirantan Barua, analyst at Bernstein. Barclays said it had been hurt by a client retreat after New York's attorney general accused it of lying about its high-speed trading venue, known as a dark pool. Barclays is fighting the lawsuit. ID:nL2N0PZ19T "The dark pools allegations that happened right at the start of the quarter have had an impact," Morzaria said. Barclays set aside another 170 million pounds to compensate customers for mis-sold loan insurance products, taking its bill for payment protection insurance to 5 billion pounds. The latest rise was largely offset, however, by a 160 million pound reduction in its provision for compensation to small businesses mis-sold interest rate hedging products. The bank's leverage ratio, which measures capital as a percentage of assets without adjusting for risk, nudged up to 3.5 percent at the end of September from 3.4 percent in June. UK regulators are expected to lift the minimum leverage ratio requirement for banks to between 4 percent and 5 percent on Friday, but give banks several years to get to that level. That decision could force Barclays to accelerate its asset sales and shrinking of the investment bank, or constrain its dividend, analysts said. ID:nL5N0R91F4 Morzaria said he was "very confident" the bank would improve its leverage ratio to above 4 percent and was ahead of its 2016 timetable to do so. (1 US dollar = 0.6250 British pound) (Additional reporting by Matt Scuffham; editing by Clara Ferreira Marques and David Clarke) ((steve.slater@thomsonreuters.com; +44)(0)(20 7542 4367; Reuters Messaging: steve.slater.thomsonreuters.com@reuters.net and follow me on twitter @reuterssteves)) Keywords: BARCLAYS RESULTS/

Indian rupee weakens in line with Asia as Fed seen hawkish

October 30, 2014 - reuters.com

* Rupee ends lower at 61.45/46 per dlr versus 61.35/36 * Custodian banks' dlr sales, record high stocks lend support * Sentiment positive on INR as foreign inflows continue: trader By Neha Dasgupta MUMBAI, Oct 30 (Reuters) - The Indian rupee hit a two-week low on Thursday, falling for a third consecutive session as the dollar got a boost after the U.S. Federal Reserve struck a more hawkish tone than expected at its policy meeting. The dollar climbed to its highest in more than three weeks against a basket of currencies, after the Fed underscored the improving U.S. labour market, raising concerns it may raise interest rates earlier than expected. ID:nL1N0SO24I EMRG/FRX However, broader losses in the rupee were capped as domestic shares rose to record highs, raising hopes of continued foreign inflows. Custodian banks were also seen selling dollars through the session. .BO Analysts also cited government measures on Wednesday relaxing rules for foreign investment in the construction sector as another positive for the rupee. ID:nL4N0SO6DW "Overall sentiment on rupee is still positive because flows continue towards India, and I think India will be the favourite destination among EMs (emerging markets)," said Hari Chandramgethen, head of foreign exchange trading at South Indian Bank. "I expect a trading range of 60 to 62 (per dollar) for the rupee in the near term." The partially convertible rupee INR=D2 closed at 61.45/46 per dollar, weaker from Wednesday's 61.35/36. Intraday, it fell to as low as 61.55 per dollar, a level last seen on Oct. 17. Analysts expect the rupee to be resilient, given investors are already starting to price in potential U.S. rate hikes, although much could depend on continued government reforms. Moody's welcomed recent efforts by India's government and its central bank to boost economic growth and attract long-term investments, but said the measures would need to be sustained to have an actual impact on sovereign ratings. ID:nL4N0SP55I In the offshore non-deliverable forwards PNDF , the one-month contract was at 61.69/79, while the three-month contract was at 62.29/39. FACTORS TO WATCH - * Dollar at 3 1/2-week high on Fed's tougher tone FRX/ * Emerging assets mostly weaker post-Fed EMRG/FRX * Dlr surges as Feds ends QE on hawkish note MKTS/GLOB * Foreign institutional investor flows INFII INFII01 * For data on currency futures INRFUTURES DIARIES & DATA: Indian Data Watch ECONIN European diary WEU/EQTY2 Indian diary IN/DIARY US Diary US/DIARY (Editing by Prateek Chatterjee) ((neha.dasgupta@thomsonreuters.com; +91-22-61807177; Reuters Messaging: neha.dasgupta.thomsonreuters.com@reuters.net)) Keywords: MARKETS INDIA FOREX/

Egyptian pound steady at central bank sale, weaker on black market

October 30, 2014 - reuters.com

CAIRO, Oct 30 (Reuters) - Egypt's pound EGP= held steady at a central bank dollar sale on Thursday but weakened slightly on the black market. The bank said it sold $37.6 million, at a cut-off price of 7.1401 pounds CBEO per dollar, unchanged from the previous sale on Wednesday. The rates at which banks are allowed to trade dollars are determined by the results of central bank sales EGYTV3 , giving the bank effective control over official exchange rates. The bank offered $40 million on Thursday. In the unofficial market, the pound was trading at 7.50 to the dollar at midday on Thursday, one trader said, slightly weaker than Wednesday's rate of 7.49. The rate for dollar sales has kept within a tight range since the beginning of June after the bank allowed the pound to weaken in May. (Reporting by Stephen Kalin; Editing by Toby Chopra) ((stephen.kalin@thomsonreuters.com; +20 101 584 1700; Reuters Messaging: stephen.kalin.thomsonreuters.com@reuters.net)) Keywords: EGYPT FOREX/

FOREX-Dollar hits 3 1/2-week high on Fed's tougher tone, euro eyes inflation

October 30, 2014 - reuters.com

* Rate futures show chance of Fed hike in September 2015 * US/German yield spreads widen to 3 1/2-week highs * Kiwi drops on dovish RBNZ statement (Adds German inflation data, details) By Anirban Nag LONDON, Oct 30 (Reuters) - The dollar rose to its highest in more than three weeks against a basket of currencies, buoyed by firmer U.S. yields, as the Federal Reserve began to sound relatively hawkish on policy and more confident about the U.S. economic recovery. U.S. rate futures shifted to show better-than-even chances of a rate increase in September 2015; previously, they had pointed to a rise in October. The Fed has held rates near zero since December 2008 and more than quadrupled its balanced sheet to $4.4 trillion with three separate asset-purchase programmes. The Fed ended its latest such programme on Wednesday, and in a statement noted the improving U.S. labour market. It dismissed recent financial market volatility, Europe's stagnant economy and largely weak inflation outlook. While it said rates would remain low for a "considerable time," the Fed's statement helped to push up U.S. yields and increased the dollar's appeal. ID:nTLATLEA08 "The positive sentiment is likely to be reinforced by today's third-quarter gross domestic product data," said Esther Reichelt, currency strategist at Commerzbank. Forecasts are that the U.S. economy grew at an annualised pace of 3 percent in the third quarter, putting it on track for a robust performance. ECONUS "That sounds more like an environment in which rate hikes will one day be possible. At levels around $1.26 for euro and above 109 in dollar/yen, the dollar is finally trading at levels again that we consider to be justified," Reichelt added. The dollar index .DXY , which measures the U.S. currency against a basket of six major rivals, rose to 86.452 on Thursday, its highest since Oct. 6. The euro touched a 3 1/2-week low of $1.2555 EUR= in European trade, and was last trading at $1.2585, still down 0.35 percent on the day. Against the yen, the dollar rose above 109 yen for the first time in 3 1/2 weeks, to hit a high of 109.31 yen. The dollar last traded at 109.05 yen JPY= , up 0.1 percent. The dollar's gains came as the yield on benchmark 10-year Treasury notes US10YT=RR hit 2.33 percent and its spread over its German counterpart rose to its highest since early October. EYES ON GERMAN CPI The widening spreads left the euro struggling, with investors wary of German inflation numbers later in the day. The early regional indications suggested the risk of a downside surprise. ID:nL5N0SP37S A year-on-year increase in German consumer prices of 0.9 percent is forecast, up from 0.8 percent in September. ECONDE "On the inflation side, euro weakness and its impact on inflation has been reduced by sharply falling commodity prices," Morgan Stanley said in a note. The euro could come under more pressure if German inflation falls short of expectations, the MS analysts said. On Friday, euro zone inflation data is due, and forecasts are for an annual 0.4 percent reading, up from 0.3 percent in September. ECONEZ The European Central Bank has been grappling with low inflation for much of this year and has lowered rates to near zero and talked the euro lower to ward off disinflation. The New Zealand dollar, meanwhile, fell after that country's central bank sounded a bit more dovish following a widely expected decision to leave rates unchanged. ID:nL4N0SO1PX The kiwi, already under pressure against a firmer U.S. dollar, fell to $0.7770 NZD=D4 from around $0.7820 before the announcement. It last traded at $0.7800, flat on the day. (Editing by Shri Navaratnam, Larry King) ((anirban.nag@thomsonreuters.com; +44 20 7542 8399; Reuters Messaging: anirban.nag.thomsonreuters.com@reuters.net)) Keywords: MARKETS FOREX/

Security forces fire on protesters near Burkina presidential palace -sources

October 30, 2014 - reuters.com

OUAGADOUGOU, Oct 30 (Reuters) - Security forces protecting the area near Burkina Faso's presidential palace fired live rounds and tear gas as crowds approached, diplomatic and security sources told Reuters on Thursday. Crowds marched towards the presidential palace in the Ouaga 2000 neighbourhood of Ouagadougou after earlier storming the parliament building and state television, the sources said. Security forces protecting the house of President Blaise Compaore's brother opened fire as demonstrators tried to attack the building, leaving three bodies lying motionless on the ground, a witness said. (Reporting by David Lewis and Joe Bavier; Editing by Daniel Flynn) ((david.lewis2@thomsonreuters.com; Dakar Newsroom +221 338645076; Reuters Messaging: david.lewis2.thomsonreuters.com@reuters.com)) Keywords: BURKINA POLITICS/PALACE

Burkina Faso scraps bill to extend presidents term amid protests

October 30, 2014 - reuters.com

DAKAR, Oct 30 (Reuters) - Burkina Faso's government has abandoned plans for legislation to extend President Blaise Compaore's 27-year rule on Thursday amid protests by thousands of people who stormed the parliament building and state television. Alain Edouard Traore, communications minister, confirmed the government had dropped a project to amend the constitution to remove a two-term presidential term limit that would have allowed Compaore to seek reelection next year. (Reporting by Bate Felix; Writing by Daniel Flynn) ((daniel.flynn@thomsonreuters.com; +221 33 864 5076; Reuters Messaging: daniel.flynn.thomsonreuters.com@reuters.net)) Keywords: BURKINA POLITICS/WITHDRAWAL

China probing jump in September precious metals exports -newspaper

October 30, 2014 - reuters.com

SINGAPORE, Oct 30 (Reuters) - China is investigating a surge in precious metals exports in September, China Business News reported on its website on Thursday, in a sign of suspected irregularities in trade numbers. China has already sent a team of investigators from a number of government departments to the southern province of Guangdong, which borders Hong Kong, to ascertain the cause of the increase, the newspaper reported, citing unnamed sources. The value of shipments of precious metals, including jewellery, rose to about $10.8 billion in September, a 678 percent jump from a year ago, the paper said. The Ministry of Commerce, which regulates such trade, did not immediately respond to calls seeking comment. China typically does not reveal trade data on gold, so the exports figures likely reflect silver, platinum and palladium trade. Last month, China's currency regulator said it had found nearly $10 billion worth of falsified trade transactions more than a year after the fake trades were first uncovered. ID:nL3N0RQ1OH To evade China's capital controls and move money in or out of the world's second-biggest economy, some companies create artificial trade invoices that are not backed by an actual exchange of goods or services. Global commodity markets were rattled in June when an investigation into a trade fraud in China showed companies had used fake receipts at a port in Qingdao in east China to obtain multiple loans secured against a single cargo of metal. In June, China's chief auditor said Chinese gold processing firms have since 2012 used falsified gold transactions to borrow 94.4 billion yuan ($15 billion) from banks. ID:nL4N0P71DC ($1 = 6.1140 Chinese yuan) (Reporting by A. Ananthalakshmi and David Stanway; Editing by Tom Hogue) ((ananthalakshmi.as@thomsonreuters.com; +65 6870 3726; Reuters Messaging: ananthalakshmi.as.thomsonreuters.com@reuters.net)) Keywords: CHINA TRADE/PRECIOUSMETALS

London gold 1030 fix - Oct 30 - 1205.75 dlrs

October 30, 2014 - reuters.com

Burkina Faso state TV goes off air after building stormed - witness

October 30, 2014 - reuters.com

OUAGADOUGOU, Oct 30 (Reuters) - Burkina Faso state television went off air on Thursday after protesters stormed the building and ransacked it, a Reuters witness said. A handful of soldiers who were guarding the building shot in the air to try to disperse them but the crowds continued advancing and the soldiers fled, the witness said. (Reporting by Joe Penney; Writing by David Lewis; Editing by Daniel Flynn) ((david.lewis2@thomsonreuters.com; Dakar Newsroom +221 338645076; Reuters Messaging: david.lewis2.thomsonreuters.com@reuters.com)) Keywords: BURKINA POLITICS/TV

EMERGING MARKETS-Emerging assets mostly weaker post-Fed, rouble bears brunt

October 30, 2014 - reuters.com

By Sujata Rao LONDON, Oct 30 (Reuters) - Emerging markets mostly fell on Thursday after the U.S. Federal Reserve set the clock ticking on its first interest rate rise in almost a decade, with a surging dollar taking an especially heavy toll on currencies. Russia, hurt by its own domestic woes, continued its run as the worst performing market, with the currency falling to a record low against the dollar. The greenback firmed after the Fed ended its six-year long asset purchase programme and signalled its first interest rate rise since 2006 would come in 2015. That pushed most emerging assets lower, with MSCI's emerging equity index falling 0.6 percent off three-week highs .MSCIEF . Gulf bourses fell 1-2 percent .QSI .DFMGI .TASI . Some markets bucked the trend, with Chinese mainland stocks touching 20-month highs on reform hopes and India at new record highs, led by shares in software exporters who are expected to benefit from a U.S. economic recovery .SSEC .BSESN . But the rupee fell to two-week lows while other Asian currencies such as Malaysian ringgit and Korean won lost around 0.5 percent to the dollar INR= MYR= KRW= . The Turkish lira and South African rand slipped off six-week highs TRY= ZAR= . "This is a market that is in digestion mode after the Fed, we see a bit of weakness after the dollar ticking higher," said Benoit Anne, head of emerging markets strategy at Societe Generale in London. But he is advising clients to disregard the weakness in emerging currencies, arguing that lower oil prices and U.S. recovery would benefit many markets such as South Africa. "The bigger picture has actually not changed," he added. The rouble fell to fresh record lows RUB= , with some investors speculating the central bank will announce a move to a free-float regime on Friday. An interest rate rise is more likely but forwards markets show even this may be ineffective. While the rouble weakened 0.7 percent in the spot market, it fell 1.6 percent to the dollar in the six-month non-deliverable forwards market RUB6MNDFOR= indicating an almost 5 percent depreciation over this period. Most analysts predict a 50-75 basis point rate rise though interest rate swaps and cross-currency swaps expect a more aggressive 150-250 bps move. Societe Generale reckons on a 50 bps hike, explaining that the central bank sees this as sufficient to tame inflation expectations. "If this scenario does materialise, investors will believe - wrongly - that the central bank has chickened out, which will result in an even weaker rouble," Anne said. Brazil's central bank meanwhile shocked markets with a quarter point rate rise, soon after leftwing President Dilma Rousseff disappointed investors by regaining the presidency. "This looks like the "credibility hike" that the market would have expected should the opposition have won the presidential election on Sunday," Deutsche Bank analysts said. "We believe the much faster-than-expected adjustment in interest rates is positive for market sentiment (as it strongly signals austerity), and could contribute to a reduction in the total size of the tightening cycle," they added. For GRAPHIC on emerging market FX performance 2014, see http://link.reuters.com/jus35t For GRAPHIC on MSCI emerging index performance 2014, see http://link.reuters.com/weh36s For GRAPHIC on MSCI emerging Europe performance 2014, see http://link.reuters.com/jun28s For GRAPHIC on MSCI frontier index performance 2014, see http://link.reuters.com/zyh97s For CENTRAL EUROPE market report, see CEE/ For TURKISH market report, see .IS For RUSSIAN market report, see RU/RUB ) (Additional reporting by Karin Strohecker) ((sujata.rao@thomsonreuters.com; +44 20 7542 6176 sujata.rao.thomsonreuters.com@reuters.net))

UPDATE 1-Protesters storm, set fire to Burkina Faso parliament- witnesses

October 30, 2014 - reuters.com

(Adds details, quote from protestor) OUAGADOUGOU, Oct 30 (Reuters) - Thousands of protesters stormed Burkina Faso's parliament on Thursday and set fire to the building, ahead of a vote on a motion to allow the president to stand for re-election, Reuters witnesses said. The crowd then headed towards the prime ministers office as a government helicopter flew overhead, shooting tear gas canisters at protesters, a Reuters witness said. Lawmakers had been due to vote on Thursday a plan proposed by the government to change the constitution to allow President Blaise Compaore stand for re-election next year, when he was due to stand down due to a two-term limit. Most deputies had not yet arrived for the vote when protesters entered the building. "We did this because Blaise was trying to stay too long. We are tired of him," said Seydou Kabre, a protester in the crowd headed to the prime minister's office. "We want a change. He must go!" Protesters took the parliament building after police starting shooting in the air in a bid to disperse them. In the face of the surging crowd, police were forced to withdraw, witnesses said. (Reporting by Mathieu Bonkoungou and Joe Penney; Writing by Joe Bavier and Daniel Flynn; Editing by David Lewis) ((joe.bavier@thomsonreuters.com; +225 07074101; Reuters Messaging: joe.bavier.thomsonreuters.com@reuters.net)) Keywords: BURKINA POLITICS/PROTESTS

London platinum/palladium 0945 fix - Oct 30

October 30, 2014 - reuters.com

Sterling falls below $1.60 after Fed takes more confident tone

October 30, 2014 - reuters.com

By Liisa Tuhkanen and Jemima Kelly LONDON, Oct 30 (Reuters) - Sterling fell below $1.60 for the first time in two weeks on Thursday after the U.S. Federal Reserve adopted a slightly less cautious tone on policy and data showed Britain's housing market losing some momentum. In a show of confidence in the U.S. economy's prospects that sent the dollar higher, the Fed on Wednesday ended its $4 trillion bond-buying programme and dropped a reference to U.S. labour market slack as "significant". ID:nL1N0SO24I The spread between two-year British government bond yields GB2YT=RR and their U.S. equivalent US2YT=RR narrowed to its lowest since January, also boosting the dollar at the expense of sterling. Having traded as high as $1.6161 GBP=D4 on Wednesday, sterling fell 0.7 percent after the Fed released its statement and a further 0.2 percent on Thursday, to trade at $1.5975. Data released on Thursday showed British house price growth easing for a second month in a row in October, adding to evidence that the once red-hot property market is cooling. ID:nL5N0SP1QK That followed numbers on Wednesday that showed British lenders approved the fewest mortgages in more than a year last month. ID:nL9N0RG005 But traders said sterling's move lower against the dollar was mainly down to the Fed's statement. "It's really nothing to do with sterling, it's all dollar strength at the moment on the back of the FOMC meeting last night - not because the statement was particularly hawkish, but because the market was positioned for a very dovish one," said John Hardy, a currency strategist at Saxo Bank. Against the euro, the pound strengthened by 0.3 percent to 78.69 pence EURGBP=D4 , as the single currency struggled ahead of German inflation numbers later in the day. Hardy said sterling was being contained by the fact that UK wage growth remained weak and that the British economy was suffering knock-on effects from the faltering euro zone. The pound has been weighed down this week by dovish comments from Bank of England policymakers, who have emphasised that the central bank would leave rates near their record low level for longer on the basis of low inflation and slack remaining in the labour market. ID:nL5N0SN562 ID:nL5N0SM5AU Minutes released last week from the BoE's latest monetary policy meeting showed MPC members were against raising rates for now, pointing to weak price pressures at home and a slowdown in the euro zone, Britain's most important export market. Sterling had reached a six-year high against the dollar in mid-July on expectations that the BoE would start hiking interest rates by the end of this year. But those bets have since been pushed well back, with many now not expecting rates to rise until the second half of 2015. GBPOIS=ICAP (editing by John Stonestreet) ((jemima.kelly@thomsonreuters.com; +44 (0) 20 7542 7508; Reuters Messaging: jemima.kelly.thomsonreuters@reuters.net)) Keywords: MARKETS STERLING/OPEN

Greek 10-year yields rise back towards 8 percent

October 30, 2014 - reuters.com

LONDON, Oct 30 (Reuters) - Greek 10-year bond yields rose on Thursday, with traders citing a fall in bank shares and ongoing political uncertainty related to the risk of early elections next year. ID:nA8N0QY02H Greek yields GR10YT=TWEB rose 35 basis points to 7.97 percent. (Reporting by Marius Zaharia; Editing by John Geddie) ((marius.zaharia@thomsonreuters.com; +44 (0) 207 542 0950; Reuters Messaging: marius.zaharia.thomsonreuters.com@reuters.net)) Keywords: MARKETS BONDS/EURO GREECE

GLOBAL MARKETS-Dollar surges as Fed ends QE on hawkish note

October 30, 2014 - reuters.com

* Dollar, yields jump after Fed ends QE * Fed statement more hawkish than markets had expected * Two-year U.S. Treasury yield's rise biggest in 4 years By Jamie McGeever LONDON, Oct 30 (Reuters) - The dollar surged to a three-week high, bond yields rose and gold fell on Thursday after the U.S. Federal Reserve ended its six-year quantitative easing bond-buying programme. The decision was widely expected, but a relatively hawkish tone to the accompanying statement was not. It prompted financial markets to rethink the growing consensus that the Fed's first interest rate hike would be late in 2015. Stock market reaction was more mixed. Asian shares mostly fell, following a slight decline on Wall Street overnight. European bourses opened higher on Thursday, helped by encouraging corporate earnings, but quickly turned negative. The biggest moves were in currency and bond markets. The dollar rose sharply against all its major counterparts, and the two-year U.S. bond yield posted its biggest one-day rise in almost four years. "Relatively hawkish comments about the labour market caused the dollar to spike strongly as the market readjusted for the next move from the Fed, which senior analyst at FXpro in London. In a statement on Wednesday after a two-day meeting, the Fed retained its basic guidance that overnight borrowing costs would remain near zero for a "considerable time". But it dropped a characterization of the U.S. labour market slack as "significant" in a show of confidence in the economy's prospects, which markets perceived as a slightly hawkish turn. ID:nL1N0SO24I In early European trade the dollar index, a broad measure of the greenback's trade-weighted value, was up 0.5 percent above 86.4 .DXY . The dollar was up a third of a percent against the yen, above 109 yen JPY= , and the euro was down half a percent at $1.2575 EUR= . The dollar benefited as U.S. Treasury yields surged, with the benchmark 10-year Treasury note yield US10YT=RR climbing to a three-week high of 2.362 percent. In early European trade on Thursday it was hovering around 2.33 percent. The two-year yield, which is more sensitive to interest rate moves, was above 50 basis points, double the level it was only two weeks ago. It jumped almost 10 basis points immediately after the Fed's statement on Wednesday. European equity markets initially welcomed the Fed's statement as a sign the U.S. economy is in good shape, rather than taking fright at the prospect of interest rates perhaps rising sooner than had been expected. But at 0930 GMT the EuroFirst 300 index of leading shares was down 0.1 percent at 1317 points .FTEU3 . Germany's DAX .GDAXI was down 0.4 percent and France's CAC40 .FCHI was down 0.1 percent, shrugging off upbeat corporate updates from Alcatel Lucent ALUA.PA , Technip TECF.PA and Renault RENA.PA . Britain's FTSE 100 was down 0.5 percent .FTSE , and U.S. futures pointed to Wall Street opening around 0.2 percent lower. British bank Barclays BARC.L set aside 500 million pounds ($800 million) for potential fines resulting from a global foreign exchange investigation. Its shares were up 1 percent, however, after the bank reported a 15 percent rise in third- quarter profit. ID:nL5N0SP18X MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.5 percent, while Japan's Nikkei .N225 bucked the trend in Asia and rose 0.7 percent, as investors took heart from the significantly weaker yen. Gold fell to a three-week low just above $1,200 an ounce XAU= , pressured by the strong dollar. Oil also fell, with U.S. and Brent crude futures down almost 1 percent to $81.40 and $86.42 a barrel, respectively CLc1 LCOc1 . Brazil surprised markets late on Wednesday by hiking interest rates, a bold move that signals President Dilma Rousseff may make market-friendly policy changes after her narrow re-election victory on Sunday. ID:nL1N0SO0TA The rate hike could give the Brazilian real BRL= a further lift. It had fallen to a nine-year low against the dollar on Monday after Rousseff defeated market-friendly challenger Aecio Neves, but it recovered ground as some of the pessimism faded. (Reporting by Jamie McGeever; Editing by Larry King; To read Reuters Global Investing Blog click on http://blogs.reuters.com/globalinvesting; for the MacroScope Blog click on http://blogs.reuters.com/macroscope; for Hedge Fund Blog Hub click on http://blogs.reuters.com/hedgehub) ((jamie.mcgeever@thomsonreuters.com)(+44)(0)(207 542 8510)) Keywords: MARKETS GLOBAL

Protesters storm Burkina Faso parliament - witness

October 30, 2014 - reuters.com

OUAGADOUGOU, Oct 30 (Reuters) - Thousands of protesters stormed Burkina Faso's parliament building on Thursday, forcing police to withdraw, ahead of a vote on a motion to allow the president to stand for re-election, a Reuters witness said. He said the protesters stormed the building and had got inside and that the police had run away. (Reporting by Mathieu Bonkoungou; Writing by Joe Bavier; Editing by Alison Williams) ((joe.bavier@thomsonreuters.com; +225 07074101; Reuters Messaging: joe.bavier.thomsonreuters.com@reuters.net)) Keywords: BURKINA POLITICS/PROTESTS

Sri Lanka rupee edges up on remittances, exporter dlr sales

October 30, 2014 - reuters.com

COLOMBO, Oct 30 (Reuters) - The Sri Lankan rupee traded a tad firmer on Thursday due to inflows from remittances and exporter dollar sales after the central bank prevented the local currency from falling below 131.00, dealers said. The spot currency LKR=LK was quoted at 130.85/90 per dollar at 0828 GMT compared to Wednesday's close of 130.80/131.00. It was largely untraded last week on moral suasion by the central bank. Dealers said three-day forward or spot next was actively traded in the absence of spot trade. Spot next was traded at 130.85/95 per dollar compared to Wednesday's close of 130.95/131.05. "Exporters were selling dollars in the market after waiting for a long time. I think they would have realised the central bank is not going to allow the rupee to trade below 131.00 level," a currency dealer said, asking not to be named. Dealers said the market expects the local currency to face more pressure due to rising imports and lower rates. The central bank's stable exchange rate policy would encourage more imports in the medium term, they said. The central bank has been preventing any rupee spot trade below 130.85 this week through moral suasion, dealers said. Sri Lanka's central bank governor Ajith Nivard Cabraal said during a Reuters post-budget forum in Colombo on Monday that the trend was for an appreciating rupee. He did not elaborate. The central bank had last week dissuaded some banks from trading in the spot and three-day currency forwards below a pre-determined level to prevent volatility. Sri Lanka's stock market index .CSE was up 0.48 percent, or 34.61 points, at 7,300.51 as of 0834 GMT. Turnover was 1.88 billion rupees ($14.37 million), with 90.3 million shares changing hands. (1 US dollar = 130.8000 Sri Lankan rupee) (Reporting by Shihar Aneez; Editing by Sunil Nair) ((shihar.aneez@thomsonreuters.com; +94-11-232-5540; Reuters Messaging: shihar.aneez.thomsonreuters.com@reuters.net twitter:@shiharaneez)) Keywords: MARKETS SRI LANKA/

UPDATE 1-Burkina police scatter, arrest protesters before Compaore vote

October 30, 2014 - reuters.com

(Adds details, background) OUAGADOUGOU, Oct 30 (Reuters) - Security forces in Burkina Faso fired teargas and beat and arrested protesters on Thursday as they tried to reach parliament before a vote on a move to allow the president to stand for re-election. Officers in pick-ups pursued opposition supporters and cordoned off the area around the building in the capital Ouagadougou, a Reuters photographer said. In response, hundreds of protesters burned tyres and set up makeshift barricades. Lawmakers are due to vote on Thursday morning on a government plan to revise the constitution to allow President Blaise Compaore stand for re-election next year, when he was due to stand down. The proposal has deeply divided Burkina Faso, one of the world's poorest nations and which has positioned itself as a mediator in regional crises. It has also drawn criticism from former colonial power France and from the United States, allies of the Burkinabe government in operations against al Qaeda-linked groups in West Africa. Compaore has been in power since 1987, ruling the cotton and gold-producing nation with a generally firm grip. However, in recent years, he has faced increasing criticism, including from within his own camp and the military. Hundreds of thousands of people took to the streets of Ouagadougou and other towns across the country on Tuesday in what the opposition said was the start of a campaign of civil disobedience over the proposed constitutional reform. The government has called for restraint. It is not yet clear if the government will ask lawmakers on Thursday to approve a referendum on changing term limits to allow Compaore to stand, or try to directly pass the changes it seeks by securing the support of 75 percent of parliamentarians, as allowed under law. France has called on Compaore to adhere to African Union rules preventing constitutional changes that allow leaders to stay in power. The U.S. government has said it is concerned. One Ouagadougou-based diplomat said he expected the government to try to push the changes directly through parliament but it was likely to be a close vote. "It is an awkward one," the diplomat said. "We have all leant as heavily as we can. But if you amend the constitution through constitutional means, diplomats don't have a leg to stand on, even if you don't like it." (Reporting by Joe Penney and Mathieu Bonkoungou; Additional reporting by David Lewis in Dakar; Writing by David Lewis; editing by John Stonestreet) ((david.lewis2@thomsonreuters.com; Dakar Newsroom +221 338645076; Reuters Messaging: david.lewis2.thomsonreuters.com@reuters.com)) Keywords: BURKINA POLITICS/

FOREX-Dollar at 3 1/2-week high on Fed's tougher tone, euro eyes inflation

October 30, 2014 - reuters.com

* Rate futures show chance of Fed hike in September 2015 * US/German yield spreads widen to 3 1/2-week highs * Kiwi wilts on dovish RBNZ statement (Recasts, adds fresh quotes, details) By Anirban Nag LONDON, Oct 30 (Reuters) - The dollar climbed to its highest in more than three weeks against a basket of currencies, buoyed by higher U.S. yields, after the Federal Reserve sounded less dovish on policy and more confident about the U.S. economic recovery. U.S. rate futures shifted to show better-than-even chances of a rate increase in September 2015; previously, they had pointed to a rise in October. The Fed has held rates near zero since December 2008 and more than quadrupled its balanced sheet to $4.4 trillion with three separate asset-purchase programmes. The Fed ended its latest such programme on Wednesday and in a statement noted the improving U.S. labour market. It dismissed recent financial market volatility, Europe's stagnant economy and largely weak inflation outlook. While it said rates would remain low for a "considerable time," the Fed's statement helped to push up U.S. yields and increased the dollar's appeal. ID:nTLATLEA08 "The positive sentiment is likely to be reinforced by today's third-quarter gross domestic product data," said Esther Reichelt, currency strategist at Commerzbank. Forecasts are that the U.S. economy grew at an annualised pace of 3 percent in the third quarter, putting it on track for a robust performance. ECONUS "That sounds more like an environment in which rate hikes will one day be possible. At levels around $1.26 for euro and above 109 in dollar/yen, the dollar is finally trading at levels again that we consider to be justified," Reichelt added. The dollar index .DXY , which measures the U.S. currency against a basket of six major rivals, rose to 86.452 on Thursday, its highest since Oct. 6. The euro touched a 3 1/2-week low of $1.25635 EUR= . Against the yen, the greenback rose above 109 yen for the first time in 3 1/2 weeks. The dollar last traded at 109.26 yen JPY= , up 0.35 percent on the day. The dollar's gains came as the yield on benchmark 10-year Treasury notes US10YT=RR hit 2.33 percent and its spread over its German counterpart rose to its highest since early October. EYES ON GERMAN CPI The widening spreads left the euro struggling, with investors also wary of German inflation numbers later in the day. A year-on-year increase in German consumer prices of 0.9 percent is forecast, up from 0.8 percent in September. ECONDE "On the inflation side, euro weakness and its impact on inflation has been reduced by sharply falling commodity prices," Morgan Stanley said in a note. The euro could come under more pressure if German inflation falls short of expectations, the MS analysts said. On Friday, euro zone inflation data is due, and forecasts are for an annual 0.4 percent reading, up from 0.3 percent in September. ECONEZ The European Central Bank has been grappling with low inflation for much of this year and has lowered rates to near zero and talked the euro lower to ward off disinflation. The New Zealand dollar, meanwhile, fell after that country's central bank sounded a bit more dovish following a widely expected decision to leave rates unchanged. ID:nL4N0SO1PX The kiwi, already under pressure against a firmer U.S. dollar, fell to $0.7770 NZD=D4 from around $0.7820 before the announcement. It last traded at $0.7785, down 0.2 percent on the day. (Additional reporting by Masayuki Kitano; Editing by Shri Navaratnam, Larry King) ((anirban.nag@thomsonreuters.com; +44 20 7542 8399; Reuters Messaging: anirban.nag.thomsonreuters.com@reuters.net)) Keywords: MARKETS FOREX/

Barclays says FX provision covers talks with more than one body

October 30, 2014 - reuters.com

LONDON, Oct 30 (Reuters) - Barclays Plc BARC.L said a 500 million pound ($799 million) provision it has made to cover potential fines for manipulating currency markets relates to talks with more than one body. "These are ongoing discussions with certain regulatory agencies and it's our best estimate of what we feel is the provision required as a consequence. The discussions are fluid and they are continuing," Barclays finance director Tushar Morzaria told reporters on a conference call. He declined further comment. Barclays is one of six banks in talks with UK regulators about a coordinated settlement over alleged manipulation of foreign exchange markets, sources have said. Some U.S. regulators are also working on a group settlement, one source said. ID:nL5N0SP18X (Reporting by Steve Slater; Editing by Matt Scuffham) ((steve.slater@thomsonreuters.com; +44 (0) 20 7542 4367; Reuters Messaging: steve.slater.thomsonreuters.com@reuters.net and follow me on twitter @reuterssteves)) Keywords: BARCLAYS RESULTS/FX

UPDATE 1-S.Africa cbank's Marcus says CPI targets reduce price pressure

October 30, 2014 - reuters.com

(Adds details, background) PRETORIA, Oct 30 (Reuters) - South Africa's central bank defended its inflation targeting policy on Thursday, saying it had helped reduce price pressures and contributed to more favourable economic growth. Governor Gill Marcus, whose five year term in office will end on Nov. 8, told a conference on inflation targeting that raising its band from the current 3-6 percent would probably push CPI higher. The Reserve Bank has raised interest rates by a cumulative 75 basis points this year, as it balanced worries about inflation pushing above its target and concerns over weak growth in Africa's most advanced economy. "We have adopted a flexible inflation targeting approach, conscious of the trade-off between short-term inflation variability and output variability," Marcus said. "This approach has been appropriate both in dealing with exogenous shocks, as well as responding to periods of slow growth, as is currently the case." South Africa's COSATU labour federation has long called for the government to scrap inflation targeting, saying it has led to higher interest rates, undermining efforts to grow the economy and create more jobs. "This animosity is problematic, as societal buy-in and public support are considered to be important prerequisites for the successful implementation of the framework," Marcus said on Thursday. (Reporting by Xola Potelwa; Writing by Stella Mapenzauswa; Editing by Joe Brock) ((stella.mapenzauswa@thomsonreuters.com; +27 11 775 3161; Reuters Messaging: stella.mapenzauswa.thomsonreuters.com@reuters.net)) Keywords: SAFRICA CENBANK/

SNAPSHOT-India stocks, bonds, rupee, swap, call at 0801 GMT

October 30, 2014 - reuters.com

STOCKS .BSESN .NSEI ----------------------- The benchmark BSE index up 0.76 percent after hitting a record high and the broader NSE index adds 0.77 percent, as investors bet an improving economy and government reforms would allow the country to better withstand potential rate hikes from the U.S. Federal Reserve. .BO RUPEE INR=D2 -------------- The partially convertible rupee weaker at 61.48/49 per dollar against previous close of 61.35/36, as dollar index gains on Fed's optimistic economic view. However, dollar-selling by custodian banks limit the fall. INR/ GOVERNMENT BONDS IN084024G=CC ------------------------------- The benchmark 10-year bond yield down 3 basis points at 8.29 percent in choppy trade. Traders say Fed's dovish stance on interest rates will bring in increased fund flows into emerging markets. IN/ INTEREST RATE SWAPS INROIS MIOIS= ------------------------------------- The benchmark five-year swap rate falls 1 basis point to 7.49 percent, while the one-year rate also drops 1 bp to 8.07 percent. CALL MONEY INROND= -------------------- India's cash rate at 8.05/8.10 percent, higher than previous close of 7.90/8.00 percent. (Compiled by Dipika Lalwani) ((dipika.lalwani@thomsonreuters.com; +91-22-6180-7098; Reuters Messaging: dipika.lalwani.thomsonreuters.com@reuters.net)) Keywords: INDIA SNAPSHOT/

China outstanding QFII quota rises to $64 bln at end-Oct

October 30, 2014 - reuters.com

BEIJING, Oct 30 (Reuters) - The quota allocated under China's dollar-dominated Qualified Foreign Institutional Investor (QFII) stood at $64 billion at end-October, the State Administration of Foreign Exchange (SAFE) said on Thursday. The outstanding amount under its Renminbi Qualified Foreign Institutional Investor (RQFII) programme stood at 294.4 billion yuan(48.14 billion US dollar) for the month, said the country's foreign exchange regulator. For the previous month, the outstanding totals were $62.2 billion and 283 billion yuan, respectively. (1 US dollar = 6.1150 Chinese yuan) (Reporting By Xiaoyi Shao and Michael Martina; Editing by Kim Coghill) ((xiaoyi.shao@thomsonreuters.com; +8610-66271221; Reuters Messaging: xiaoyi.shao.thomsonreuters.com@reuters.net)) Keywords: CHINA INVESTMENT/QFII

Burkina security forces scatter, arrest protesters ahead of vote

October 30, 2014 - reuters.com

OUAGADOUGOU, Oct 30 (Reuters) - Security forces in Burkina Faso fired tear gas and arrested protesters gathering in the centre of the capital on Thursday, a Reuters photographer said, before parliament votes on a move to allow the president to stand for re-election. Officers in pick-ups pursued and beat some opposition supporters trying to reach the National Assembly in Ouagadougou, which was cordoned off by police. Lawmakers are due to vote on Thursday morning on a plan proposed by the government to push through changes to the constitution to allow President Blaise Compaore stand for re-election next year, when he was due to stand down. (Reporting by Joe Penney and Mathieu Bonkoungou; Writing by David Lewis, editing by John Stonestreet) ((david.lewis2@thomsonreuters.com; Dakar Newsroom +221 338645076; Reuters Messaging: david.lewis2.thomsonreuters.com@reuters.com)) Keywords: BURKINA POLITICS/

INDICATORS - Kazakhstan - Oct 30

October 30, 2014 - reuters.com

BRIEF-Condor Blanco Mines announces extension of gold mining HOA

October 30, 2014 - reuters.com

Oct 30 (Reuters) - Condor Blanco Mines Ltd CDB.AX : * Extension of gold mining hoa CDB.AX * Deadline for completion of due diligence by Condor and for it to advise rio of its intention to proceed is to be now completed by 05 November 2014 * On basis that Condor elects to proceed with the project, the parties must sign the joint venture agreement by 12 November 2014 * Source text for Eikon ID:nASX5Cq38c * ((For more news, please click here CDB.AX )) ((Bangalore Newsroom; +91 80 6749 1130))

MIDEAST STOCKS - Factors to watch - October 30

October 30, 2014 - reuters.com

DUBAI, Oct 30 (Reuters) - Here are some factors that may affect Middle East stock markets on Thursday. Reuters has not verified the press reports and does not vouch of their accuracy. INTERNATIONAL/REGIONAL * GLOBAL MARKETS- Asian stocks fall, dollar surges on Fed's optimism MKTS/GLOB * Brent drops below $87 as Fed optimism lifts dollar O/R * MIDEAST STOCKS- Dubai, Saudi bourses pull back after outperforming region MEAST-STX * Gold near 3-week low after Fed optimism over US economy GOL-RTRS * Iraqi forces advance in new bid to end Baiji refinery siege IQ-REF * INTERVIEW-Palestinian telecoms company unbowed by Gaza war ORDS.QA-PALTEL.PL-WATA.PL * London's Battersea secures 467 mln pound Islamic financing SIME.KL * OPEC's Badri sees little output change in 2015, says don't panic on oil drop OPEC * Tunisia's secular party wins 85 seats in parliament, Islamist party 69 TN-POL SAUDI ARABIA * Major new Saudi-Sinopec refinery to export in Dec-sources REF-SDABO.UL UNITED ARAB EMIRATES * Dubai's Emaar Properties Q3 profit rises despite revenue drop EMAR.DU-RES * UAE telco Etisalat Q3 net profit rises on domestic income, Morocco buy ETEL.AD-RES * Abu Dhabi financial zone hires regulatory chief from Singapore AE-DFIN * Etihad, Alitalia offer concessions in bid for EU approval for stake deal AIRL-AE * UAE's Amanat Holdings says IPO fully covered within first week IPO-AMHO.DU QATAR * Commercial Bank of Qatar Q3 net profit jumps 79 pct COMB.QA-RES * Qatari Sept trade surplus falls 19.9 pct yr/yr to $7.2 bln QA-TRACC BAHRAIN * Batelco Q3 net profit rises 40 pct BTEL.BH OMAN * Bank Muscat's Islamic unit plans maiden sukuk in Q1 2015 BMAO.OM (Compiled by Dubai newsroom) ((dubai.newsroom@reuters.com)) Keywords: MIDEAST FACTORS

India Morning Call-Global Markets

October 30, 2014 - reuters.com

EQUITIES NEW YORK - U.S. stocks closed with slight losses on Wednesday, finishing off their lows of the session, after the Federal Reserve ended its stimulative monthly bond-buying program and expressed confidence in U.S. economic prospects. Major indexes were volatile following the central bank's statement, with the S&P 500 down as much as 0.8 percent before pulling back. Material shares .SPLRCM were lower throughout the session, a decline in Facebook pressured the Nasdaq, but strength in energy and financial shares helped the market recover. For a full report, click on .N - - - - LONDON - Britain's top equity index rose to its highest level in nearly three weeks on Wednesday as expectations the U.S. Federal Reserve will signal it is in no rush to raise interest rates buoyed stock markets. Intertek ITRK.L was the top performer on the blue-chip FTSE 100 index .FTSE following positive broker comments, with the FTSE itself closing up by 0.8 percent at 6,453.87 points. For a full report, click on .L - - - - TOKYO - Japan's Nikkei share average rose to a fresh three-week high on Thursday morning as optimism about the U.S. economy buoyed sentiment, while Nintendo Co 7974.T soared on better-than-expected earnings. The U.S. Federal Reserve said after a two-day meeting on Thursday that the U.S. labour market was improving, but said interest rates would remain low for a "considerable time." For a full report, click on .T - - - - HONG KONG - Hang Seng Index .HSI is trading 0.27 percent lower. For a full report, click on .HK - - - - FOREIGN EXCHANGE TOKYO - The dollar stayed on the front foot on Thursday, holding near prior session highs as it basked in the afterglow of the Federal Reserve's optimistic take on the U.S. economic recovery, raising the odds of policy tightening sooner rather than later. The Federal Open Market Committee released a statement after its two-day meeting that underscored the improving U.S. labour market, but said interest rates would remain low for a "considerable time." For a full report, click on USD/ - - - - TREASURIES NEW YORK - U.S. 5-year treasuries yield rises nearly 9 basis points to 1.592 pct, on track for biggest one-day yield increase since mid-March-Reuters Data. For a full report, click on US/ - - - - COMMODITIES GOLD SINGAPORE - Gold was languishing near a three-week low on Thursday after the U.S. Federal Reserve ended its bond-buying stimulus programme and expressed confidence in the economic recovery, dimming bullion's safe-haven appeal. Spot gold XAU= was little changed at $1,212.60 an ounce by 0031 GMT. In the previous session, gold fell to $1,208.26 - its lowest since Oct. 8, before closing down 1.3 percent. For a full report, click on GOL/ - - - - BASE METALS SYDNEY - London copper led other metals lower on Thursday, after encouraging comments by U.S. monetary officials on the state of the world's top economy sparked a dollar rally, which weighed on commodities. Three-month copper on the London Metal Exchange CMCU3 slipped 0.5 percent to $6,779 a tonne by 0139 GMT, after ending slightly firmer in the previous session when it struck its loftiest level since Sept 19. For a full report, click on MET/L - - - - OIL NEW YORK - Oil prices closed higher on Wednesday for a second day in a row after data showed U.S. crude stockpiles rose less than expected last week, ending two weeks of builds that pressured the market. Prices remained up even as the dollar rallied in the afternoon to a Federal Reserve statement that suggested to some that the central bank's confidence in U.S. labor market recovery could result in an earlier-than-expected rate hike. For a full report, click on O/R (Compiled by Abhishek Vishnoi) ((abhishek.vishnoi@thomsonreuters.com; +91 22 61807225; Reuters Messaging: abhishek.vishnoi.thomsonreuters.com@reuters.net)) Keywords: MORNINGCALL INDIA/

UPDATE 2-Gold miner Agnico earnings miss but raises output forecasts

October 30, 2014 - reuters.com

(Recasts with earnings miss, adds production forecast for 2014) Oct 29 (Reuters) - Agnico Eagle Mines AEM.TO reported lower-than-expected adjusted earnings on Wednesday partly due to increased spending on exploration but raised its gold production forecasts for both this year and next due to strong operating results at its mines. For the second time this year, the Toronto-based gold producer raised its output forecast for 2014. It now expects to produce around 1.4 million ounces of gold this year, up from a previous forecast of between 1.35 million to 1.37 million ounces. Agnico also lifted its production outlook for 2015 to 1.6 million ounces as it expects higher output from its Meadowbank mine in Canada, Kittila mine in Finland and Mexican operations. The new projection compares with a previous forecast of 1.25 million ounces in 2015. That forecast, however, excluded production from the Canadian Malartic mine, which Agnico bought a stake in earlier this year. Agnico reported a net loss in the third quarter of $15.1 million, or 7 cents a share, in the three months to the end of September due to a number of one-off non-cash items, including stock option expenses and foreign currency translation losses. That compared with a net profit of $74.9 million, or 43 cents a share, in the same period a year ago. Adjusting for these one-time items, Agnico earned $4.2 million, or 2 cents a share. That was below the 15 cents analysts were expecting, according to Thomson Reuters I/B/E/S. Desjardins analyst Michael Parkin said the earnings were lower than expected partly due to increased exploration spending by Agnico at its Amaruq project in Nunavut. Agnico said it produced 349,273 ounces of gold in the third quarter, up from 315,828 ounces in the comparable quarter in 2013. Its average cash costs for producing an ounce of gold on a by-product basis rose to $716 an ounce from $591 in the same period last year. In recent quarters, Agnico and its peers have been slashing costs as the gold industry tries to restore profit eroded by a 35 percent fall in the gold price in the past three years, soaring mine site costs and overpriced acquisitions. However, analysts have said miners have cut as much as they can and expect costs to rise from here. (Reporting by Nicole Mordant in Vancouver; Editing by Chris Reese, Matthew Lewis and Lisa Shumaker) ((nicole.mordant@thomsonreuters.com; +1-604-664-7315; Reuters Messaging: nicole.mordant.thomsonreuters.com@reuters.net)) Keywords: AGNICO EAGLE RESULTS/

UPDATE 1-Centerra Gold loss widens as prices, sales drop

October 30, 2014 - reuters.com

(Adds analyst expectations, data on production, sales and prices, production targets and background on assets) TORONTO, Oct 29 (Reuters) - Centerra Gold Inc CG.TO reported a deeper third-quarter loss on Wednesday, reflecting lower gold prices and the sale of fewer ounces of gold, the company said. The Toronto-based gold miner's net loss widened to $3.2 million, or 1 cent a share, from $1.8 million, or 1 cent, in the year-ago period. Analysts, on average, had been expecting a loss of 8 cents a share, according to Thomson Reuters I/B/E/S. Centerra, whose main asset is the Kumtor gold mine in Kyrgyzstan, produced 110,792 ounces of gold in the quarter and sold 107,367 ounces of gold. That is down from production of 113,840 ounces and the sale of 115,941 ounces in the same period last year. The average price realized for Centerra's gold fell 5 percent to $1,265 per ounce from $1,337 an ounce in the year-prior period. Centerra lifted its 2014 production target to between 600,000 and 650,000 ounces of gold. Kumtor is still expected to produce 550,000 to 600,000 ounces, while the Boroo mine in Mongolia is now seen producing 50,000 ounces, up from a previous 45,000 ounce estimate. Centerra's Kumtor open-pit mine has faced several setbacks since the project started in 1994, including threats of nationalization, riots and more recently a $300 million ecological damages lawsuit. The mine contributes some 10 percent of the impoverished country's GDP. Centerra and the government of Kyrgyzstan have been in discussions for more than a year on a deal that would involve the state swapping its 32.7 percent stake in Centerra for half of a joint venture that would control the Kumtor mine. A recent Ontario court ruling may delay the finalization of an agreement. ID:nL6N0SF490 (Reporting by Susan Taylor in Toronto and Nicole Mordant in Vancouver; Editing by Chris Reese and Richard Chang) ((susan.taylor1@thomsonreuters.com; +1 416 941 8083; Reuters Messaging: susan.taylor1.thomsonreuters.com@reuters.net)) Keywords: CENTERRA GOLD RESULTS/

UPDATE 1-Barrick Gold earnings beat market; cuts cost forecast

October 30, 2014 - reuters.com

(Recasts with analyst expectations, other financial, production data) Oct 29 (Reuters) - Barrick Gold Corp ABX.TO reported better-than-expected third-quarter earnings on Wednesday and also lowered its forecast for full-year 2014 costs for the second time this year. Barrick, the world's biggest gold producer by output, said it now expects its all-in sustaining costs to come in between $880 and $920 per ounce of gold this year, down from a previously expected range of $900 to $940 an ounce. Barrick and its peers have been slashing costs as the industry tries to restore profits eroded by a 35 percent fall in the gold price in the past three years, soaring mine site costs and over-priced acquisitions. Toronto-based Barrick, which also mines copper, increased its forecast for copper production this year to between 440 million pounds and 460 million pounds from a previous forecast of 410 million to 440 million pounds. The company said its net earnings fell to $125 million, or 11 cents a share, in the quarter to end-September from $172 million, or 17 cents a share, in the same period a year ago on the back of weaker gold and copper prices and lower sales volumes. Adjusted net earnings fell to $222 million, or 19 cents a share, from $577 million, or 58 cents a share, before. Analysts expected the company to earn 18 cents a share, according to Thomson Reuters I/B/E/S. Barrick, with mines in the Americas, Australia and Africa, said it produced 1.649 million ounces of gold in the third quarter, down from 1.845 ounces in the comparable quarter in 2013. Production has been falling partly as Barrick has sold off high-cost mines. The company narrowed its forecast range for production this year to between 6.1 million and 6.4 million ounces from a previous estimate of 6 million to 6.5 million. Barrick's all-in sustaining costs, the industry cost benchmark, were $834 per ounce in the quarter compared with $914 an ounce in the same quarter a year ago. The average price Barrick was able to get for its gold in the quarter fell to $1,285 an ounce from $1,323 a year ago. (Reporting by Nicole Mordant in Vancouver; Editing by Chris Reese and Gunna Dickson) ((nicole.mordant@thomsonreuters.com; +1-604-664-7315; Reuters Messaging: nicole.mordant.thomsonreuters.com@reuters.net)) Keywords: BARRICK GOLD RESULTS/

Barrick Gold third-quarter earnings slide, cuts 2014 cost forecast

October 29, 2014 - reuters.com

Oct 29 (Reuters) - Barrick Gold Corp ABX.TO reported lower third-quarter earnings on Wednesday on the back of weaker gold and copper prices and lower sales volumes. Barrick, the world's biggest gold producer by output, said net earnings fell to $125 million, or 11 cents a share, in the quarter to end-September from $172 million, or 17 cents a share, in the same period a year ago. The company lowered its 2014 forecast for all-in sustaining costs to between $880 and $920 per ounce of gold from a range of $900 to $940 an ounce before. It also narrowed its forecast range for production this year to between 6.1 million and 6.4 million ounces from a previous estimate of 6 million to 6.5 million. (Reporting by Nicole Mordant in Vancouver; Editing by Chris Reese) ((nicole.mordant@thomsonreuters.com; +1-604-664-7315; Reuters Messaging: nicole.mordant.thomsonreuters.com@reuters.net)) Keywords: BARRICK GOLD RESULTS/

Centerra Gold reports larger third-quarter loss

October 29, 2014 - reuters.com

TORONTO, Oct 29 (Reuters) - Centerra Gold Inc CG.TO reported a deeper third-quarter loss on Wednesday, reflecting lower gold prices and the sale of fewer ounces of gold, the company said. The Toronto-based gold miner posted a net loss of $3.2 million, or 1 cent a share, in the three months to the end of September. That compares with a loss of $1.8 million, or 1 cent, a year earlier. (Reporting by Susan Taylor; Editing by Chris Reese) ((susan.taylor1@thomsonreuters.com; +1 416 941 8083; Reuters Messaging: susan.taylor1.thomsonreuters.com@reuters.net)) Keywords: CENTERRA GOLD RESULTS/

BRIEF-Centerra Gold Q3 loss per share $0.01

October 29, 2014 - reuters.com

Oct 29 (Reuters) - Centerra Gold Inc CG.TO : * Reports third quarter results * Q3 loss per share $0.01 * Q3 earnings per share view $-0.08 -- Thomson Reuters I/B/E/S * Says increased boroo's 2014 gold production guidance to 50,000 ounces * Says company is on track to achieve its revised production and cost guidance for 2014 * Says produced 110,792 ounces of gold in the quarter, including 95,265 ounces at kumtor and 15,527 ounces at boroo * Says 2014 guidance for consolidated gold production has been revised to a range between 600,000 and 650,000 ounces * Estimates that the kumtor mine will produce between 550,000 and 600,000 ounces in 2014 which is unchanged from the previous guidance * In the kyrgyz republic, the company is continuing its discussions with the government" * Is analyzing the potential impact on kumtor's reserves of the buttress constructed to manage the movement of the davidov glacier * Expects that mongolian parliament will consider the designation of gatsuurt as a strategic deposit by the end of 2014 * Says projected capital expenditures for 2014, excluding capitalized stripping, have been revised to $101 million from $86 million * Source text for Eikon ID:nMKWfXqQ6a * Further company coverage CG.TO ((Bangalore Newsroom; +1 646 223 8780))

Login required

Please note that, in order to view the full text, you must be logged-in at our system.

Please login at the easy-forex homepage (new users need registration).

Thank you.