Patientez...

Reuters Infos

South Korean President Park says weak yen "a challenge"

October 23, 2014 - reuters.com

SEOUL, Oct 23 (Reuters) - South Korean President Park Geun-hye on Thursday again raised the yen's JPY= weakness as a challenge for South Korea's economy, the second time this month she has specifically addressed the currency issue. "Rival economies are accelerating their chase (to win against South Korea) amid the rapidly changing external environment, including the yen's weakness," the president's office quoted her saying at a ceremony to mark the start of construction on an industrial park. It is rare for the president to comment directly on a specific currency but it was the second time this month that she mentioned the yen. On Oct. 6 she said the weak yen could hurt local export industries. ID:nL3N0S10JN South Korean and Japanese companies compete head-on for a similar group of products on major markets around the world, notably for cars and electronics goods, and policymakers in Seoul are concerned the yen's steep decline would give the Japanese exporters a pricing edge. (Reporting by Choonsik Yoo; Editing by Eric Meijer) ((choonsik.yoo@thomsonreuters.com; +822 3704 5580; Reuters Messaging: choonsik.yoo.thomsonreuters.com@reuters.net)) Keywords: SOUTHKOREA ECONOMY/YEN

UPDATE 1-China forex regulator says not worried about capital outflows

October 23, 2014 - reuters.com

* Decline in FX reserves in line with policy goals * Decline attributable to currency movements, especially dollar * Sees signs of increased volatility in cross-border flows * Will develop more derivatives for firms to better hedge FX risk (Adds more comments from official) BEIJING, Oct 23 (Reuters) - China's foreign currency regulator is not concerned by signs of forex outflows, the country's State Administration of Foreign Exchange (SAFE) said on Thursday, saying a recent decline in forex reserves is in line with China's policy goals. However, China is closely monitoring the impact of any changes in U.S. monetary policy, and has detected signs of increased volatility in cross-border flows, the spokesperson told a news conference in Beijing. The remarks were made by Guan Tao, head of the department of international payments at SAFE, who added that SAFE will develop derivative instruments to help companies better hedge against two-way volatility in the yuan exchange rate CNY=CFXS . China's foreign exchange reserves, the world's largest, fell slightly to $3.89 trillion at the end of September from $3.99 trillion at the end of June, central bank data showed. Some analysts said the decline suggested speculative "hot money" outflows from China amid increased market jitters about whether the world's second-largest economy may be at risk of a sharper slowdown. ID:nL3N0S922A China's vast factory sector grew a shade faster in October as firms drew more foreign and domestic orders, a private survey showed earlier on Thursday, but analysts say the modest expansion does not indicate a turnaround for the cooling Chinese economy. ID:nL3N0SH2QQ Guan attributed the decline in forex reserves to the rise of the dollar against other currencies. He also said that the central bank was gradually ceasing intervention in the forex market. The yuan has been on a steady uptrend since late May but remains down year-to-date after the currency slumped early in the year, which many traders said was due to central bank behind-the-scenes manipulation targeting speculators. (Reporting by Kevin Yao; Writing by Pete Sweeney; Editing by Jacqueline Wong) ((kevin.yao@thomsonreuters.com; +8610 6627 1215; Reuters Messaging: kevin.yao.thomsonreuters.com@reuters.net)) Keywords: CHINA ECONOMY/SAFE

China banks sell net 48.2 bln yuan in forex in Sept - SAFE

October 23, 2014 - reuters.com

BEIJING, Oct 23 (Reuters) - Chinese banks sold a net 48.2 billion yuan ($7.9 billion) in foreign exchange in September for clients, the State Administration of Foreign Exchange said on Thursday. ($1 = 6.1191 Chinese yuan) (Reporting by Ben Blanchard and Judy Hua; Editing by Jacqueline Wong) ((ben.blanchard@thomsonreuters.com; +86 10 6627 1201; Reuters Messaging: ben.blanchard.thomsonreuters.com@reuters.net)) Keywords: CHINA ECONOMY/FOREX

NZ dollar skids on benign inflation data, Australian dlr pinned

October 23, 2014 - reuters.com

* Kiwi drops 1 pct after benign inflation data * RBNZ may keep rates on hold for longer as inflation slows * Aussie briefly gains after HSBC PMI China data By Cecile Lefort and Naomi Tajitsu SYDNEY/WELLINGTON, Oct 23 (Reuters) - The New Zealand dollar fell one U.S. cent on Thursday after a surprisingly weak inflation reading raised expectations that interest rates may remain on hold well into 2015. The sell-off pinned down the Australian dollar. The fall of more than 1 percent took the New Zealand dollar NZD=D4 to $0.7837, pulling closer to a 17-month trough of $0.7708 touched late September. New Zealand's annualised domestic consumer price index came in at 1.0 percent in July-September, from 1.6 percent in the previous quarter and undershooting the Reserve Bank of New Zealand's 1.3 percent forecast. ID:nL6N0SH04S Annual CPI fell to the bottom of the central bank's 1 percent to 3 percent target range, ratcheting up market expectations that the Reserve Bank of New Zealand (RBNZ) may wait until the second half of 2015 or later before resuming rate rises. "Over the last few weeks the market has reduced its expectations for rate hikes...and this number will make the market quite comfortable with that pricing," said BNZ senior market strategist Kymberly Martin. Economists expect the RBNZ will keep rates on hold at 3.5 percent at its policy review next week as it assesses the impact of 100 basis points of tightening implemented between March and July to fight inflation pressures. The kiwi sold off broadly, pushing the Aussie AUDNZD=R up to around NZ$1.1163, its strongest in two weeks. This sent the kiwi 1.4 percent lower at 76.36 versus a currency basket =NZD . Strong support was found around $0.7800. "A lot of domestic factors are now priced in (to the kiwi) so to get a really significant further down leg you need to see a resumption in broad USD strength," said Martin at BNZ, adding the dollar could regain broad strength if investors bring forward their view on the timing of future U.S. rate rises. New Zealand government bonds 0#NZTSY= rallied, pushing most yields 4 basis points lower. Kiwi weakness weighed on its Australian cousin AUD=D4 . It eased to $0.8756, from $0.8777 in early trade. It briefly rose after a better-than-expected private reading of China's manufacturing activity but it came back to where it was before the data. The flash HSBC/Markit manufacturing purchasing managers' index (PMI) edged up to a three-month high of 50.4 from a final reading of 50.2 in September, and just a hair's breadth from the 50.3 reading forecast by analysts. {ID:nS7N0OL00D] The Aussie is sensitive to news out of China, Australia's key export market. Annette Beacher, head of Asia Pacific research at TD Securities in Singapore, expects the Antipodean currencies to remain under pressure, largely because of the tame inflation environment in Australia and New Zealand. Earlier this week, data showed Australia's consumer prices cooled in the third quarter, an outcome that gives ample room for the Reserve Bank of Australia to keep rates at a record low of 2.5 percent. ID:L3N0SF1P5 Beacher said the Aussie could slip to $0.8700. Australian government bond futures rose, with the three-year bond contract YTTc1 up 2 ticks at 97.460. The 10-year contract YTCc1 added 3 ticks to 96.745. (Editing by Eric Meijer) ((Cecile.Lefort@thomsonreuters.com)(+61 2 9373-1234)(Reuters Messaging: cecile.lefort.thomsonreuters@reuters.net)) Keywords: MARKETS AUSTRALIA/FOREX

China forex regulator says not worried about capital outflows

October 23, 2014 - reuters.com

BEIJING, Oct 23 (Reuters) - China's foreign currency regulator is not concerned about forex outflows, the country's State Administration of Foreign Exchange (SAFE) said on Thursday. However, China is closely monitoring the impact of U.S. monetary policy, and is seeing signs of increased volatility in cross-border flows. The remarks were made by Guan Tao, head of the department of international payments at SAFE, during a news conference. China's foreign exchange reserves, the world's largest, fell slightly to $3.89 trillion at the end of September from $3.99 trillion at the end of June, central bank data showed. The decline suggested speculative "hot money" outflows from China amid increased market jitters about whether the world's second-largest economy may be at risk of a sharper slowdown, analysts said. ID:nL3N0S922A Guan said the decline in forex reserves was in line with policy goals, adding that the central bank was gradually ceasing intervention in the forex market. (Reporting by Kevin Yao; Editing by Jacqueline Wong) ((kevin.yao@thomsonreuters.com; +8610 6627 1215; Reuters Messaging: kevin.yao.thomsonreuters.com@reuters.net)) Keywords: CHINA ECONOMY/SAFE

EM ASIA FX-Won, rupiah, ringgit, yuan fall

October 23, 2014 - reuters.com

FOREX-Dollar holds steady, supported by Treasury yields, sagging euro

October 23, 2014 - reuters.com

* Dollar underpinned after uptick in U.S. CPI * Bank sector concerns weigh on euro * Euro zone PMI awaited for market cues By Shinichi Saoshiro TOKYO, Oct 23 (Reuters) - The dollar steadied on Thursday, hovering near a one-week high versus the euro, supported by a slight rise in Treasury yields following news of an uptick in U.S. inflation. Concerns over the health of the European banking sector also weighed on the euro and underpinned the dollar after media reported that 11 euro zone banks had failed stress tests run by the European Central Bank. The test results will be published on Sunday. ID:nL6N0SH1XK The dollar edged up 0.1 percent to 107.20 yen JPY= , so far eking out a 0.2 percent gain versus the Japanese currency this week. Data from the U.S. overnight showed the U.S. CPI rose 1.7 percent in the 12 months through September after a similar rise in August. ID:nL2N0SG1XI The euro stood little changed at $1.2645 EUR= , within reach of a one-week low of $1.2637 hit overnight. Market focus was on the euro zone business sentiment PMI due later in the session. Signs of the euro zone economy losing momentum have helped feed global growth fears this month, and any fresh suggestion of economic weakness is expected to push the euro lower. "The euro will come under pressure if the PMI readings disappoint. But it will not benefit the dollar too much in turn, as U.S. yields still remain relatively low," said Junichi Ishikawa, market analyst at IG Securities in Tokyo. "Market players are hesitant to build positions ahead of next week's Federal Reserve meeting, especially as officials have sent dovish signals recently," he said. A weak euro zone PMI reading could also dampen expectations of an early rate hike from the Federal Reserve, and act as a drag on the dollar. The dollar index, a gauge of the greenback's strength against a basket of major currencies, stood little changed at 85.766 .DXY , hovering close to a one-week high of 85.789 reached the previous day. Sterling extended losses after a setback overnight from dovish Bank of England minutes, which showed policymakers were firmly against raising interest rates when they met earlier this month. ID:nL9N09F05F The pound was down 0.1 percent at $1.6044 GBP=D4 after hitting a one-week trough of $1.6012 the previous day. The New Zealand dollar fell about half a U.S. cent on Thursday in the wake of softer-than-expected inflation data that could give the Reserve Bank of New Zealand room to further delay its next interest rate hike. The kiwi fell toward $0.7860 NZD=D4 - a low last seen on Oct. 15 - from around $0.7910 after the consumer price index rose 0.3 percent in the third quarter, short of the 0.5 percent forecast. The Australian dollar AUD=D4 held steady at $0.8679. (Additional reporting by Ian Chua; Editing by Eric Meijer) ((shinichi.saoshiro@thomsonreuters.com; Reuters Messaging: shinichi.saoshiro.reuters.com@reuters.net)) Keywords: MARKETS FOREX/

UPDATE 1-New Zealand CPI slows; RBNZ may hold rates for longer

October 23, 2014 - reuters.com

* NZ Q3 CPI +0.3 pct qtr/qtr, +1.0 pct yr/yr * Both readings lower than RBNZ, economist forecasts * RBNZ may keep rates on hold for longer as inflation slows By Naomi Tajitsu WELLINGTON, Oct 23 (Reuters) - Annual consumer price inflation in New Zealand slowed in the third quarter due to lower prices for food and communications products, government data showed on Thursday, raising expectations that official interest rates may remain on hold beyond early 2015. The country's annualised domestic consumer price index came in at 1.0 percent in July-September, easing from 1.6 percent in the previous quarter to hit its lowest level since the June 2013 quarter. The reading was below forecasts for 1.3 percent by the Reserve Bank of New Zealand and economists polled by Reuters. Quarterly CPI rose 0.3 percent, due to higher prices for housing and household utilities as rents and local authority rates increased, but a further rise was contained by falling prices for household items. The New Zealand dollar NZD=D4 fell about half a percent to a low of $0.7866 as investors priced in the prospect the RBNZ may hold its official cash rate at 3.5 percent beyond the first quarter of 2015, when most economists polled by Reuters are anticipating the next rate rise. NZ/POLL "With the RBNZ in 'inflation watch' mode, and inflation at 1.0 percent, it is safe to assume that the OCR (official cash rate) will not rise for quite some time. We can expect next week's OCR review to be very dovish," Westpac senior economist Michael Gordon said in a note. The RBNZ is widely expected to keep the OCR unchanged at next week's policy review as it assesses the impact of 100 basis points of rate rises delivered between March and July to keep annual inflation contained around its 2 percent target. But a growing number of economists believe annual CPI will remain below target in the next year as the pace of economic growth subsides, raising the possibility that the RBNZ may wait until the second half of 2015 or even early 2016 to resume raising rates. Markets are currently pricing in 16 basis points of tightening in the coming year CSSY . The data reflected changes made to the CPI basket, which increased weighting of housing and household utilities spending. EASING PRICE PRESSURES The central bank had been tightening policy to quell price risks brought on by a booming economy driven by ongoing growth in reconstruction projects in the earthquake-hit Canterbury region and soaring global dairy prices in 2013. Economists believe rising immigration and a strong housing market will keep price risks brewing in New Zealand's $185 billion economy, which expanded at an annualised 3.9 percent in the April-June quarter, its strongest in nearly a decade. But signs that the terms of trade may have peaked at a 40-year high while a cooldown in the country's overheated housing market suggest that the economic cycle may be maturing, which may ease price risks. In addition, a near 50 percent fall in global dairy prices so far this year is seen slashing farmer incomes in the agriculture-based economy, containing prices and reducing pressure on the central bank to raise rates in the future. Such a view has prompted a sell-off in the New Zealand dollar, which has fallen more than 10 percent against the U.S. dollar since mid-July. While a weaker currency often raises imported inflation, few economists believe the "kiwi" dollar's slide will heat up price pressures, as it remains near historically high levels while retailers are likely to absorb any currency-related rise in import prices as they compete for customers. (Editing by Lisa Shumaker) ((naomi.tajitsu@thomsonreuters.com; +64-4-802-7979; Reuters Messaging: naomi.tajitsu.thomsonreuters.com@reuters.net)) Keywords: NEWZEALAND ECONOMY/CPI

CANADA FX DEBT-C$ marginally softer after swings on retail sales, BoC

October 23, 2014 - reuters.com

(Updates with new comments, closing number, details) By Solarina Ho TORONTO, Oct 22 (Reuters) - The Canadian dollar finished the session slightly weaker against its U.S. counterpart on Wednesday, as investors digested unexpectedly weak August retail sales and the Bank of Canada's statement. The currency had touched the session's weakest level after retail sales, weighed down by lower gasoline prices and weaker sales of new cars and food, unexpectedly fell 0.3 percent. It quickly pared losses to strengthen to a session high after the Bank of Canada dropped its reference to neutrality in its rate statement on Wednesday. ID:nBCLMLEA66 "It's definitely a dramatic day for Canadian dollar traders," said Adam Button, currency analyst at ForexLive in Montreal. "The market was clearly influenced by the removal of the reference to neutral in the (Bank of Canada's) statement. But that was well telegraphed ... Part of the strength was that retail sales numbers weren't as bad as initial knee-jerk reaction." The Canadian dollar CAD=D4 finished the session at C$1.1243, or 88.94 U.S. cents, slightly weaker than Tuesday's close of C$1.1228, or 89.06 U.S. cents. Button anticipated more Canadian dollar weakness going forward. The Bank of Canada, which also kept its key overnight rate at 1 percent, as expected, said the Canadian economy has "considerable excess capacity" and continued monetary stimulus was needed to close the gap. Investors were looking for additional details on the bank's overall outlook and analysis, but a scheduled press conference was canceled after a gunman fatally shot a soldier at the Canadian War Memorial in Ottawa and gunfire erupted shortly after inside the nearby parliament, near a room where Prime Minister Stephen Harper was speaking. The gunman that attacked parliament was shot dead and Harper safely removed. Government buildings and much of the city's downtown were locked down. ID:nL2N0SH19F The shootings, which made some equity investors jittery, did not have an impact on the currency, where trading was mostly steady. .TO Canadian government bond prices were mostly lower across the maturity curve, with the two-year CA2YT=RR down 1.5 Canadian cents to yield 0.985 percent and the benchmark 10-year CA10YT=RR falling 5 Canadian cents to yield 1.960 percent. (Editing by James Dalgleish) ((solarina.ho@thomsonreuters.com; 1-416-941-8067; Reuters Messaging: solarina.ho.thomsonreuters.com@reuters.net; Twitter: @shtweet)) Keywords: MARKETS CANADA/CURRENCY BONDS

NZ dollar falls sharply after soft inflation data

October 23, 2014 - reuters.com

SYDNEY, Oct 23 (Reuters) - The New Zealand dollar fell about half a U.S. cent on Thursday in the wake of softer-than-expected inflation data that could give the central bank room to further delay its next interest rate hike. The kiwi dollar fell toward $0.7860 NZD=D4 - a low last seen on Oct. 15 - from around $0.7910 after the country's consumer price index rose 0.3 percent in the third quarter, short of the 0.5 percent forecast. ID:nW9N0P6021 (Reporting by Ian Chua, editing by G Crosse) ((ian.chua@thomsonreuters.com; +61-2-9373-1871; Reuters Messaging: ian.chua.thomsonreuters.com@reuters.net)) Keywords: NEWZEALAND MARKETS/KIWI

TABLE-NZ Q3 consumer price index rises 1.0 pct yr/yr

October 23, 2014 - reuters.com

WELLINGTON, Oct 23 (Reuters) - New Zealand's consumer price index (CPI) rose 0.3 percent in the third quarter led by a rise in housing and household utilities , while other prices were subdued, according to data released by Statistics New Zealand on Thursday. Annual inflation was 1.0 percent from 1.6 percent in the previous quarter and below 1.3 percent forecast in a Reuters poll. Economists had forecast a quarterly rise of 0.5 percent. The Reserve Bank of New Zealand forecast in its September monetary statement a 0.7 percent rise in quarterly CPI and an annual rate of 1.3 percent. Thursday's data reflected changes made to the CPI basket including a increased weighting of housing and household utilities spending. ---------------------------------------------------------- Qtr-on-qtr, CPI all groups Q3 2014 Pvs qtr Year ago +0.3 +0.3 +0.9 Versus year ago +1.0 +1.6 +1.4 ---------------------------------------------------------- Qtr-on-qtr, tradables Q3 2014 Pvs qtr Year ago +0.1 +0.2 +1.2 Versus year ago -1.0 +0.1 -0.5 ---------------------------------------------------------- Qtr-on-qtr, non-tradables Q3 2014 Pvs qtr Year ago +0.5 +0.4 +0.7 Versus year ago +2.5 +2.7 +2.8 ---------------------------------------------------------- Weighted median, qtr-on-qtr Q3 2014 Pvs qtr Year ago +0.4 +0.1 +0.5 Versus year ago +1.7 n/a* n/a* ---------------------------------------------------------- Fourth quarter consumer price index will be released on Jan. 21. The full data is available at www.stats.govt.nz *Historical figures unavailable following price updates for June 2014. (Reporting by Naomi Tajitsu) ((naomi.tajitsu@thomsonreuters.com; +6448027979; Reuters Messaging: naomi.tajitsu.thomsonreuters.com@reuters.net)) Keywords: NEWZEALAND ECONOMY/CPI

Randgold CEO warns against tax hike in new Congo mining code

October 22, 2014 - reuters.com

* Government plans revision of mining code * Companies seeking to cash in on underdeveloped reserves * Randgold CEO sees quest for more tax revenue shortsighted By Aaron Ross KINSHASA, Oct 22 (Reuters) - The Democratic Republic of Congo's focus on maximising short-term tax revenues risks squandering long-term mining prospects, the chief executive of one of its largest mining investors warned on Wednesday. Speaking at a mining conference in Kinshasa, Mark Bristow, the CEO of gold miner Randgold Resources Ltd RRS.L , criticised Congo's Prime Minister Augustin Matata Ponyo for seeking quick tax revenue gains at the expense of the sustainable growth. Congolese and international consultants are currently preparing recommendations for the government ahead of a revision of the country's mining code, which was enacted in 2002. "We heard a repeat of this just recently with the prime minister's speech in parliament where he doesn't seem to understand we have to build an industry before we can harvest," Bristow said. Matata Ponyo has been vocal about the need to increase the tax take from Congo's mining sector. In March, he said he intended to almost double tax revenues from mining to 25 percent of the national budget by 2016, up from the current 14.5 percent. ID:nL5N0MM4NV Congo's economy was long crippled by mismanagement, corruption and two decades of armed conflict in the country's eastern borderlands. But investors are now rushing to cash in on largely undeveloped reserves of copper, gold, and cassiterite. The economy is set to grow by 10.4 percent next year, the government said earlier this month, due in part to the expanding mining sector. ID:nL6N0S82X8 NEGOTIATIONS FALTER Despite its mineral wealth, Bristow said that Congo needed an especially attractive mining code to compensate for its deficits in other areas. Scant geological information, a low skill base among its population and political instability all increase costs and investment risks, he said. "This country can't afford to make itself even less competitive than it is today," he said, adding that the current code should be changed as little as possible. "Maybe there's a reason to tinker with parts of it, but to rewrite it would be, for my mind, an endeavour which has no measurable benefit to anyone." Negotiations over the revision have faltered because of disagreements about proposed increases in royalties. Miners and the government have also been at loggerheads over a proposed reduction in the length of stability clauses and a 40 percent windfall tax, according to analysts. Randgold operates the Kibali gold mine in northeastern Congo, a joint venture with AngloGold Ashanti ANGJ.J and state miner Sokimo that officials hope will mark a renaissance for gold mining in the country. The mine poured its first gold last September and Randgold said in a statement this week that it expects to produce 650,000 ounces of gold per year over the next 10 years. Mining minister Martin Kabwelulu told the conference Wednesday that gold production could reach 18 tonnes in 2014, up from just 100 kilograms in 2007. ID:nL6N0SH5YG (Editing by Joe Bavier and Tom Heneghan) ((joe.bavier@thomsonreuters.com; +225 07074101; Reuters Messaging: joe.bavier.thomsonreuters.com@reuters.net)) Keywords: CONGODEMOCRATIC RANDGOLD RESOURC/

FOREX-Dollar gains on uptick in U.S. CPI, euro banking concerns

October 22, 2014 - reuters.com

* U.S. Sept CPI slightly above forecast, gives dollar added boost * Euro at one week low, weaker on banking sector worries * BoE minutes pushes sterling down By Daniel Bases NEW YORK, Oct 22 (Reuters) - The U.S. dollar extended broad-based gains on Wednesday after marginally higher-than-expected U.S. inflation data coupled with earlier concerns over European banks sent the greenback to one-week highs against the euro. A slight uptick in September U.S. CPI data, a 0.1 percent rise versus a mean forecast of no change, helped push U.S. Treasury yields up, supporting the greenback. ID:nL2N0SG1XI "To a large extent, the dollar is following U.S. yields. The sharp drop in U.S. yields last week was driven by fears of a slowing recovery and disinflationary pressures," said Vassili Serebriakov, currency strategist at BNP Paribas in New York. "There weren't any big surprises in CPI, but the fact that it was a little firmer at the headline kind of helps nudge the market's expectations closer to the Fed's, even though the gap is still quite large," he said. After the U.S. data the euro's value eroded, hitting a fresh one-week low of $1.2635. It traded down 0.56 percent at $1.2643 in late New York activity EUR= . The dollar traded up 0.18 percent at 107.14 yen JPY= . Spanish news agency EFE, citing unnamed financial sources, said 11 euro zone banks were set to fail this weekend's long-awaited stress tests. ID:nL6N0SH1XK That followed a Reuters report on Tuesday that the European Central Bank was looking at buying corporate bonds to boost euro liquidity. The ECB, which will publish the test outcomes for 130 banks on Sunday, warned after the EFE report that final results had not yet been sent to the lenders involved, and it could not comment on individual institutions. Any inferences drawn would be "highly speculative," it said. Several sources told Reuters on Tuesday the ECB was considering buying corporate bonds on the secondary market in an effort to boost the flailing euro zone economy, and could begin buying the bonds early next year. ID:nL6N0SG1Z0 ECB Governing Council member Luc Coene told Belgian media there were no concrete plans for corporate bond purchases, but said this could be a way to prevent the bank from paying too much for just covered bonds and asset-backed securities. ID:nL6N0SH117 The Canadian dollar gyrated wildly, firming to its session high of C$1.1191, or 89.35 U.S. cents after the Bank of Canada left interest rates unchanged while dropping its reference to neutrality in its rate statement. But by the end of the day, the U.S. dollar recouped its losses to trade at C$1.1240, a gain of 0.19 percent CAD= . Around the time of the announcement, at least one gunman entered Canada's Parliament building in Ottawa firing shots just outside a room where Prime Minister Stephen Harper was addressing legislators. ID:nL2N0SH19F Sterling dropped 0.36 percent to $1.6052 GBP= , up from the day's low of $1.6009. It was undermined by minutes from a Bank of England meeting showing the Monetary Policy Committee's nine members saw "few signs" of inflation pressures building. This indicated the drive toward tighter monetary policy was losing some steam. Just two members voted to raise interest rates, according to the minutes. "Calls for a rate hike early next year are diminishing, and if things continue as they are, it might not be long before we see the first hike priced in for early 2016 instead," said Alex Edwards, head of the corporate desk at UKForex. (Additional reporting by Anirban Nag, Jemima Kelly and Patrick Graham; Editing by Mark Heinrich, Meredith Mazzilli and Jonathan Oatis) ((daniel.bases@thomsonreuters.com; +1 646 223 6131; Reuters Messaging: daniel.bases.reuters.com@reuters.net; Twitter: @djbases)) Keywords: MARKETS FOREX/

UPDATE 1-DR Congo gold output to rise to up to 18 tonnes - mines minister

October 22, 2014 - reuters.com

(Adds details, chamber of mines figures) KINSHASA, Oct 22 (Reuters) - Democratic Republic of Congo's gold output is set to jump to up to 18 tonnes this year, more than four times last year's production, the country's mines minister Martin Kabwelulu said on Wednesday. Congo's economy has long been crippled by mismanagement, corruption and two decades of armed conflict in the country's eastern borderlands. But investors are now rushing to cash in on largely undeveloped mineral reserves. The spike in output is largely due to the opening of new mines, including Randgold Resources RRS.L and AngloGold Ashanti's ANGJ.J Kibali mine in the country's northeast. "This production was more or less 100 kilos in 2007 and passed to 4 tonnes last year, and this year we hope it will reach 16 to 18 tonnes," he told a mining conference in the capital Kinshasa. Congo's Chamber of Mines at the same conference projected gold output this year at 16.658 tonnes, up from 6.149 in 2013. (Reporting by Aaron Ross; Writing by Joe Bavier, editing by David Evans) ((joe.bavier@thomsonreuters.com; +225 07074101; Reuters Messaging: joe.bavier.thomsonreuters.com@reuters.net)) Keywords: CONGODEMOCRATIC GOLD/

RBNZ governor says high Asian exchange rates hurt economies

October 22, 2014 - reuters.com

WELLINGTON, Oct 23 (Reuters) - Rises in exchange rates in recent years have hurt Asian economies, but capital controls are not the solution to the problem, the head of the New Zealand central bank said on Thursday. Reserve Bank of New Zealand Governor Graeme Wheeler said financial links across international borders present challenges for central bankers setting monetary policy. They cause exaggerated shifts in exchange rates and persistent, damaging deviations from economic fundamentals, he said. "This has generated difficult headwinds for those export producers not experiencing high prices for their products, and for firms competing against cheaper imports," Wheeler said in notes to a Bank of International Settlements conference on cross-border financial links. He said the best approach to reducing such pressure was to increase domestic savings, rather than change the exchange rate regime or impose capital controls. The full speech can be read at: http://www.rbnz.govt.nz/research_and_publications/speeches/2014/5909805.html (Reporting by Gyles Beckford; Editing by Larry King) ((Gyles.Beckford@thomsonreuters.com; +64 4 802 7977 ; Reuters Messaging: gyles.beckford.reuters.com@reuters.net)) Keywords: NEWZEALAND ECONOMY/RBNZ

DR Congo gold output to rise to up to 18 tonnes - mines minister

October 22, 2014 - reuters.com

KINSHASA, Oct 22 (Reuters) - Democratic Republic of Congo's gold output is set to jump to up to 18 tonnes this year, more than four times last year's production, the country's mines minister Martin Kabwelulu said on Wednesday. "This production was more or less 100 kilos in 2007 and passed to 4 tonnes last year, and this year we hope it will reach 16 to 18 tonnes," he told a mining conference in the capital Kinshasa. (Reporting by Aaron Ross; Writing by Joe Bavier, editing by David Evans) ((joe.bavier@thomsonreuters.com; +225 07074101; Reuters Messaging: joe.bavier.thomsonreuters.com@reuters.net)) Keywords: CONGODEMOCRATIC GOLD/

UPDATE 1-U.S. court tosses Argentina appeal over funds held by BNY Mellon

October 22, 2014 - reuters.com

(Adds background on case) By Nate Raymond NEW YORK, Oct 22 (Reuters) - A U.S. appeals court on Wednesday dismissed Argentina's appeal of an order directing Bank of New York Mellon Corp BK.N to hold onto $539 million the country deposited for its restructured bondholders. The 2nd U.S. Circuit Court of Appeals in New York in a brief order said it lacked jurisdiction over the appeal as the August ruling by U.S. District Judge Thomas Griesa was a clarification rather than modification of his earlier rulings on the matter. Griesa had ruled that the $539 million that Argentina deposited in June with BNY Mellon for bondholders who participated in two sovereign debt restructurings was "illegal," and in an August order, directed the bank to retain the funds. The judge, in his August ruling, also said BNY Mellon's retention of the funds would not violate his prior orders or subject it to liability. A spokesman for BNY Mellon did not immediately respond to a request for comment, nor did a U.S. lawyer for Argentina. Argentina defaulted in July after refusing to honor court orders to pay $1.33 billion plus interest to U.S. hedge funds suing for full payment on bonds following its earlier 2002 default. The hedge funds, led by NML and Aurelius Capital Management, had spurned the country's 2005 and 2010 debt restructurings, which resulted in exchanges for about 92 percent of the country's defaulted debt. Investors who exchanged bonds were paid less than 30 cents on the dollar. The country's most recent default came after the U.S. Supreme Court declined to hear Argentina's appeal of a ruling that it must pay the holdouts when it paid holders of the exchanged bonds. Griesa subsequently blocked BNY Mellon from processing a $539 million interest payment on what the country says is over $28 billion in debt. The order sent Argentina on a course to default after no settlement was reached. A later order, the one Argentina appealed, set out BNY Mellon's responsibilities to hold onto the money. BNY Mellon, which filed a brief in the case, said Griesa's order helped protect it from liability, as "nearly every economic stakeholder in this litigation has either sued or threatened to sue" the bank, including Argentina. (Reporting by Nate Raymond in New York; Editing by Meredith Mazzilli and Tom Brown) ((Nate.Raymond@thomsonreuters.com and Twitter @nateraymond; 646-223-6752; Reuters Messaging: nate.raymond.thomsonreuters.com@reuters.net)) Keywords: ARGENTINA DEBT/

Argentina's Sept trade surplus narrows to $404 mln year-on-year

October 22, 2014 - reuters.com

BUENOS AIRES, Oct 22 (Reuters) - Argentina's trade surplus ARTBAL=ECI narrowed 44 percent in September from the same month a year earlier to $404 million, the government said on Wednesday, missing even the lowest forecast in a Reuters poll. The median forecast in a Reuters poll of 8 analysts was for a surplus of $849 million. Projections ranged from $425 million to $1.1 billion. President Cristina Fernandez's government relies on the surplus to boost dollar supplies on the tightly-controlled currency market. Foreign reserves have fallen to eight-year lows this year. Argentina posted a trade surplus of $899 million in August. ID:nE6N0N701N (Reporting by Sarah Marsh; editing by Richard Lough and Diane Craft) ((sarah.marsh@thomsonreuters.com; +54 1145102505; Reuters Messaging: sarah.marsh.thomsonreuters.com@reuters.net)) Keywords: ARGENTINA TRADE/

U.S. court tosses Argentina appeal over bond payment to BNY Mellon

October 22, 2014 - reuters.com

NEW YORK, Oct 22 (Reuters) - A U.S. appeals court on Wednesday dismissed an appeal by Argentina of an order directing Bank of New York Mellon Corp BK.N to hold onto $539 million the country deposited for its restructured bondholders. The 2nd U.S. Circuit Court of Appeals in New York in a brief order said it lacked jurisdiction over the appeal as the August ruling by U.S. District Judge Thomas Griesa was a clarification rather than modification of his earlier rulings on the matter. Griesa had ruled that the $539 million that Argentina deposited in June with BNY Mellon for bondholders who participated in two sovereign debt restructurings was "illegal," and in an August order, directed the bank to retain the funds. The judge, in his August ruling, also said BNY Mellon's retention of the funds would not violate his prior orders or subject it to liability. (Reporting by Nate Raymond in New York; Editing by Meredith Mazzilli) ((Nate.Raymond@thomsonreuters.com and Twitter @nateraymond; 646-223-6752; Reuters Messaging: nate.raymond.thomsonreuters.com@reuters.net)) Keywords: ARGENTINA DEBT/

GLOBAL MARKETS-Shares rally on corporate results; bond prices fall

October 22, 2014 - reuters.com

* Earnings, inflation data help European shares * Crude oil retreats on U.S. inventory data * U.S. bond prices fall as consumer prices edge up (Adds close of European stock, bond markets) By Herbert Lash NEW YORK, Oct 22 (Reuters) - Global equity markets edged higher on Wednesday, lifted by solid corporate results and benign U.S. inflation data that may give the Federal Reserve enough leeway to keep interest rates lower for longer, but U.S. stocks faltered as some big corporate names sold off following their results. European stock gains were largely driven by earnings. In addition, GlaxoSmithKline GSK.L shares jumped 2.6 percent in London after it said it expects a vaccine against Ebola to be ready later this year. U.S. tech names were also among the biggest gainers, after both Yahoo Inc YHOO.O and Broadcom BRCM.O beat revenue expectations late Tuesday. But Wall Street headed lower as Boeing BA.N and Biogen BIIB.O sold off after their results disappointed investors. Biogen Idec was the biggest drag on the S&P 500, falling 6.5 percent after the company reported sales of its big-selling new multiple sclerosis drug, Tecfidera, that fell short of Wall Street's lofty expectations. Boeing Co lost 3.8 percent as analysts raised concern about the costs of its 787 Dreamliner jet. "The season has been mixed, and the global economy is a concern for big multinational companies, but the fact that the market can shake off some bad reports is indicative of what good footing it is on right now," said Bruce Bittles, chief investment strategist at Robert W. Baird & Co in Nashville. MSCI's all-country world stock index .MIWD00000PUS pared some gains, rising 0.18 percent, while the pan-European FTSEurofirst 300 .FTEU3 closed up 0.73 percent at 1,308.73. The Dow Jones industrial average .DJI fell 44.47 points, or 0.27 percent, to 16,570.34. The S&P 500 .SPX slid 1.74 points, or 0.09 percent, to 1,939.54, and the Nasdaq Composite .IXIC lost 11.23 points, or 0.25 percent, to 4,408.25. Boeing Co BA.N dipped 3.4 percent, despite reporting higher-than-expected earnings and raising its outlook, on concerns that the costs of its 787 Dreamliner were creeping higher. ID:nL3N0SH4NQ But earnings overall remained solid. So far in Europe, 9 percent of STOXX 600 .STOXX companies have reported results, of which 65 percent have met or beaten profit forecasts, according to Thomson Reuters. In the United States, of the 135 companies in the S&P 500 that have reported results, 68.9 percent beat expectations, higher than the rate over the previous four quarters, Thomson Reuters data show. U.S. Treasuries prices fell as data showed a mild rebound in domestic consumer prices in September. The reading reduced some bets the Federal Reserve might postpone possible plans to raise interest rates in 2015. The U.S. Labor Department said CPI rose 0.1 percent last month as increasing food and shelter costs offset a broad decline in energy prices. ID:L2N0SH0UC This less dire view on inflation spurred selling in Treasuries, with yields on the benchmark 10-year Treasury US10YT=RR rising to their highest in a week near 2.25 percent. The 10-year note was last down 8/32 in price to yield 2.2376 percent. Crude prices retreated on data on inventories. The U.S. Energy Information Administration said crude stocks rose by 7.11 million barrels, more than double the 2.7 million barrel increase analysts had expected. EIA/S Brent crude LCOc1 was last 1 cent higher at $86.23 a barrel. U.S. crude CLc1 fell 65 cents to $81.84. The U.S. dollar extended broad-based gains. The U.S. inflation data coupled with earlier concerns over European banks sent the greenback to one-week highs against the euro. The euro EUR= was down 0.42 percent at $1.2660, after dropping to a one-week low of $1.2657. The dollar traded at 107.28 yen, a gain of 0.29 percent JPY= . (Additional reporting by Charles Mikolajczak in New York, reporting by Herbert Lash; Editing by Meredith Mazzilli and Leslie Adler) ((herb.lash@thomsonreuters.com; 1-646-223-6019; Reuters Messaging: herb.lash.reuters.com@reuters.net)) Keywords: MARKETS GLOBAL/

South African bonds hit 7-week high after inflation, budget numbers

October 22, 2014 - reuters.com

JOHANNESBURG, Oct 22 (Reuters) - Yields on South African government bonds dropped to 7-week lows on Wednesday, pushed down by better-than-expected consumer inflation data and an interim budget from Finance Minister Nhlanhla Nene that went down well with investors. Statistics South Africa said annual inflation slowed to 5.9 percent in September, below market expectations and from 6.4 percent previously, partly because of lower fuel prices. ZACPIY=ECI The decline meant headline inflation returned to within the central bank's 3-6 percent target for the first time since February, adding to views it will not have to raise interest rates next month, giving the economy room to recover from strikes this year. Analysts said a 75 basis point increase in rates this year looks to have been enough to stem inflationary pressures, with inflation peaking earlier than expected. Government bonds extended gains to Sept. 4 levels after Nene announced a smaller-than-expected budget deficit forecast for this year, along with projected faster fiscal consolidation and a budget-neutral support package for power utility Eskom. "The emphasis on spending containment is particularly important," said Mamokete Lijane, a fixed income analyst at Sasfin Bank. "The 20 billion rand ($1.82 billion) for Eskom is lower than people would have expected and the view that it's going to be funded via sale of state assets means it's going to be budget neutral." Yields dropped 12.5 basis points to 7.885 percent on the benchmark 2026 issue ZAR186= and 16 basis points at 6.275 percent on the 2015 note ZAR158= . The rand rallied to test levels below the 11 mark, hitting 10.9950 against the dollar. ZAR=D3 The next major resistance for the currency comes at the 10.89, a level last tested in mid-September. ($1 dollar = 10.9909 South African rand) (Reporting by Xola Potelwa; Editing by Ed Cropley) ((xola.potelwa@thomsonreuters.com; +27 11 775 3098; Reuters Messaging: xola.potelwa.thomsonreuters.com@reuters.net)) Keywords: MARKETS SAFRICA/CURRENCY

UPDATE 1-Russia may have to look "seriously" at rate hikes - central bank deputy

October 22, 2014 - reuters.com

* Central banker says need to think seriously about rate hikes * Ex-finance minister Kudrin warns of big drop in foreign investment * Central banker says thinking about 1-3 year repos (Adds detail, quotes, background) By Liisa Tuhkanen LONDON, Oct 22 (Reuters) - Russia's central bank may have to seriously consider raising interest rates if the slide in the rouble and jump in inflation continue, one of its top policymakers and a former finance minister both said on Wednesday. Russia has come under intense market pressure this year as Western sanctions over the crisis in Ukraine and now falling oil prices put the brakes on an already struggling economy. The central bank has spent more than $50 billion this year defending the rouble and may now have to once more raise interest rates to halt the currency slide and bring inflation under control. "If the situation continues developing in the current direction, the Bank of Russia will have to look seriously at an increase of the interest rates," Sergei Shvetsov, the bank's first deputy chairman, said at a Moscow Exchange event in London. Russia's benchmark interest rate currently stands at 8 percent, the highest since 2009, after three increases so far this year. ID:nL5N0RD1XA Shvetsov's view was echoed by influential former finance minister and outspoken policy critic Alexei Kudrin, who told journalists another rate hike was inevitable. Kudrin served as finance minister for 11 years before being ousted three years ago in a bitter and public conflict with then-president Dmitry Medvedev, who is now the prime minister. While he said he did not expect further Western sanctions over the crisis in Ukraine, those already in force are likely to cut Russian economic growth by 1-1.5 percent both this year and next. Kudrin also warned that foreign investment in Russia could fall by at least a fifth over the coming years and the energy exporter might need to get used to oil prices of $80-85 in the next five years. "Next year we should definitely expect less foreign investment. It could decrease by 20 percent, or more than 20 percent." DOLLAR SQUEEZE One major concern in financial markets about the sanctions on Russia is that its banking system is being starved of the dollar funding that many banks and firms need to fund themselves. The central bank's Shvetsov said it had been asked for alternative ways to get dollar funding and "a solution" would be found. "Some banks are asking for one-year (dollar liquidity operations) and some are asking for three-years. There is not a decision yet, but it will be a repo rather than a swap," he said. Russia has already taken some steps to address the situation, announcing last week that it would hold foreign exchange deposit auctions of one month or more. ID:nL6N0SA4DE Russian stocks fell again on Wednesday and the rouble resumed its decline, with investors disappointed with Moscow and Kiev's failure to finalise a gas deal. ID:nL6N0SG34S Kudrin said he expected an eventual deal between the two, warning that with winter approaching the consequences of not reaching a deal would be more costly all round than the potential compromises that may be required. (Additional reporting by Marc Jones; Editing by Hugh Lawson) ((liisa.tuhkanen@thomsonreuters.com;)) Keywords: RUSSIA INVESTMENT/KUDRIN

Platinum producers lead S.Africa stocks lower

October 22, 2014 - reuters.com

* Top-40 down 0.8 percent * All-share falls 0.67 percent JOHANNESBURG, Oct 22 (Reuters) - South African stocks retreated on Wednesday, led by platinum producers that were hit by data showing a sharp fall in Chinese imports of the precious metal, the latest blow for an industry struggling with depressed prices and rising costs. Mid-tier producer Aquarius Platinum AQPJ.J fell more than 6 percent to around 3 rand, making it the session's second-biggest decliner. Northam Platinum NHMJ.J , which on Wednesday unveiled a $600 million deal that will increase its black ownership to over a third and inject 4.6 billion rand ($420) in cash to fund growth, lost 2.8 percent to 34.80 rand. Official customs data showed China's platinum imports fell 18.5 percent in September to 8,615 kg, and were down by a similar percentage in the year to date. The spot price XPT= fell 0.5 percent to $1,265.75 an ounce. ID:nEAP222543 "Although the market remains bullish for platinum prices over the longer term, the unconvincing bounce from recent sub-$1,200 levels shows the limited amount of confidence investors have in the potential for this metal to make gains in the shorter term," said David Jollie, analyst at Mitsui Precious Metals in London. Bullion producers were also on the back foot as the spot price XAU= slipped from the previous day's six-week peak in the face of renewed dollar weakness. GOL/ Harmony Gold HARJ.J fell 2.7 percent while Africa's top producer AngloGold Ashanti ANGJ.J stumbled 2.4 percent. Among other decliners, Johannesburg shares of British American Tobacco BTIJ.J slid almost 3 percent after the company reported an accelerated decline in the number of cigarettes sold. ID:nL6N0SH0YK More generally, the equities market had little to cheer from Finance Minister Nhlanhla Nene's medium-term budget presentation on Wednesday, which forecast economic growth of 1.4 percent in 2014, well down from the 2.7 percent predicted in February. ID:nL6N0SH44Y The benchmark Top-40 index .JTOPI fell 0.81 percent to 43,035. It has lost almost 9 percent since it scaled a life high over 47,000 in July. The wider All-Share index .JALSH gave up 0.67 percent to 48,203. Preliminary bourse data showed 160 issues declined and 130 gained while almost 178 million shares changed hands. (Reporting by Ed Stoddard in Johannesburg and Jan Harvey in London; editing by Susan Thomas) ((Edward.Stoddard@thomsonreuters.com; +27 11 775 3160; Reuters Messaging: edward.stoddard.thomsonreuters.com@reuters.net)) Keywords: MARKETS SAFRICA/STOCKS

UPDATE 2-Nigeria naira firms 0.39 pct on cenbank dollar sales

October 22, 2014 - reuters.com

(Adds naira close) LAGOS, Oct 22 (Reuters) - Nigeria's currency NGN=D1 closed up 0.39 percent to 164.90 naira against the greenback after central bank intervened with an undisclosed amount of dollar sales to support it, dealers said. The unit hovered around a 7-month intraday low of 166 naira before central bank support, driven by strong demand for dollars amid a shortage and continued concerns over weak oil prices. It closed at 165.55 naira against the dollar on Tuesday. Dealers said dollar demand was coming from local importers and companies worried about the risk of a devaluation that brought forward their hard currency orders. Concerns about the falling price of oil have led to panic selling in Africa's leading producer, which relies on oil as its main source of foreign currency earnings. The naira has lost 3.9 percent so far this year and is trading below the central bank's target range of within 3 percent of 155 naira to the dollar. (Reporting by Oludare Mayowa; Writing by Chijioke Ohuocha; Editing by Tim Cocks) ((chijioke.ohuocha@thomsonreuters.com; +234 703 4180 621; Reuters Messaging: chijioke.ohuocha.thomsonreuters@reuters.net)) Keywords: CURRENCY NIGERIA/

BRIEF-Lion One says received environmental approvals for its Tuvatu gold project in Fiji

October 22, 2014 - reuters.com

Oct 22 (Reuters) - Lion One Metals Ltd LIO.V : * Receives environmental approvals for construction and development at Tuvatu gold project in Fiji * Received approval from Fiji's department of environment for its 100 percent owned tuvatu gold project * Source text for Eikon ID:nCCNbt8BsR * Further company coverage LIO.V ((Bangalore Newsroom; +1 646 223 8780))

GLOBAL MARKETS-Shares rally on corporate results, bond prices fall

October 22, 2014 - reuters.com

* Earnings, inflation data help shares regain poise * U.S. bond prices fall as consumer prices edge up * Oil slips toward $86 after big jump in US crude stocks (Adds U.S. market open, byline, dateline; previous LONDON) By Herbert Lash NEW YORK, Oct 22 (Reuters) - Global equity markets edged higher on Wednesday, lifted by a raft of solid corporate results and benign U.S. inflation data that may encourage the Federal Reserve to keep interest rates lower for longer. Stock gains on Wall Street and Europe were largely driven by earnings, with U.S. tech names among the biggest gainers of the day. Both Yahoo Inc YHOO.O and Broadcom BRCM.O beat revenue expectations late Tuesday, putting the benchmark S&P 500 on track for its biggest five-day rally since December 2011. Yahoo rose 5.9 percent, Broadcom jumped 6.8 percent and GlaxoSmithKline GSK.L rose 3.6 percent in London after saying it expects a vaccine against Ebola to be ready later this year. Both Yahoo and Broadcom beat revenue expectations, while GlaxoSmithKline beat earnings expectations. So far in Europe, 9 percent of STOXX 600 .STOXX companies have reported results, of which 65 percent have met or beaten profit forecasts, according to Thomson Reuters. In the United States, of the 135 companies in the S&P 500 that have reported results, 68.9 percent beat expectations, higher than the rate over the previous four quarters, Thomson Reuters data show. Limiting equity advances was Boeing Co BA.N , which dipped 0.9 percent despite reporting higher-than-expected earnings and raising its outlook. The stock fell amid concerns about signs that the costs of the 787 Dreamliner were creeping higher. ID:nL3N0SH4NQ "The season has been mixed, and the global economy is a concern for big multinational companies, but the fact that the market can shake off some bad reports is indicative of what good footing it is on right now," said Bruce Bittles, chief investment strategist at Robert W. Baird & Co in Nashville. MSCI's all-country world stock index .MIWD00000PUS rose 0.37 percent, while the pan-European FTSEurofirst 300 .FTEU3 was up 0.57 percent at 1,306.63. The Dow Jones industrial average .DJI rose 7.99 points, or 0.05 percent, to 16,622.8. The S&P 500 .SPX added 4.43 points, or 0.23 percent, to 1,945.71 and the Nasdaq Composite .IXIC gained 10.42 points, or 0.24 percent, to 4,429.89. U.S. Treasuries prices fell as data showed a mild rebound in domestic consumer prices in September. The reading reduced some bets the Fed might postpone possible plans to raise policy rates in 2015. The Labor Department said CPI rose 0.1 percent last month as increasing food and shelter costs offset a broad decline in energy prices. This less dire view on inflation spurred selling in Treasuries, with yields on the benchmark 10-year Treasury US10YT=RR rising to their highest in a week near 2.25 percent. The 10-year was last down 5/32 in price to yield 2.2234 percent. Crude prices retreated after data form the U.S government's Energy Information Administration showed a big rise in crude oil inventories. Brent crude LCOc1 fell 10 cents at $86.12 a barrel. U.S. crude CLc1 fell 40 cents to $82.09. The U.S. dollar extended broad-based gains after marginally higher-than-expected U.S. inflation data coupled with earlier concerns over European banks sent the greenback to one-week highs against the euro. The euro EUR= was down 0.39 percent at $1.2664, after dropping to a fresh one-week low of $1.2657. The dollar traded at 107.21 yen, a gain of 0.22 percent JPY= . (Additional reporting by Marius Zaharia, reporting by Herbert Lash; Editing by Meredith Mazzilli) ((herb.lash@thomsonreuters.com; 1-646-223-6019; Reuters Messaging: herb.lash.reuters.com@reuters.net)) Keywords: MARKETS GLOBAL/

Eyes on growth numbers after BoE minutes hurt sterling

October 22, 2014 - reuters.com

(Updates prices, adds more comment) By Anirban Nag and Patrick Graham LONDON, Oct 22 (Reuters) - Sterling fell around half a percent against a stronger dollar on Wednesday after Bank of England minutes showed policymakers were firmly against raising interest rates when they met earlier this month. While two members voted to raise interest rates, most of the Monetary Policy Committee's nine members saw "few signs" of inflation pressures building, indicating that the debate within the committee for tighter monetary policy was losing some steam. The minutes also showed members were concerned that Britain's output gap would be slightly larger than previously estimated and saw downside risks from the euro zone to a durable recovery. ID:nL9N09F05F The overall effect was to weaken sterling, although there was little or no shift in money market pricing GBPFRA GBPOIS=ICAP 0#FSS: and the pound recovered some ground later in the day, particularly against a weakened euro. "Sterling losses after the BoE minutes may prove temporary going into retail sales on Thursday and GDP on Friday," said Valentin Marinov, head of G10 currency strategy with U.S. bank Citi in London. "The minutes did not trigger a significant correction in short sterling market with investors still looking for Q3 2015 for the start of the hiking cycle." By late afternoon in London, sterling had shed 0.45 percent to trade at $1.6042 GBP=D4 , above a day's low of $1.6012 hit immediately after the minutes. It was flat on the day at 78.93 pence per euro EURGBP=D4 . Doubts over the solidity of Britain's recovery and a pushing back of expectations for the timing of a first rise in interest rates have dominated the past few weeks for sterling. But the economy remains one of the best growing in Europe and odds are still that there will be a growing premium for holding the pound over the next couple of years. Gross domestic product numbers on Friday may turn attention back to that, although other indicators of growth -- including one private sector survey of retail sales for September -- have been more bearish. ID:nL9N0OF01K Official data on the latter is due on Thursday. "We already know that the retail numbers for September are unlikely to be great," said a dealer with one London bank. "The good weather clearly made people wait with buying their winter clothes. That's a seasonal thing but it should weigh on the ONS figures as well." The consensus forecast of analysts polled by Reuters is for 2.8 percent year on year growth in spending by British consumers. ECONGB The economy is expected to have grown by 3.0 percent in annual terms in the third quarter. (Editing by Catherine Evans) ((anirban.nag@thomsonreuters.com)(+44)(20 7542 8399)(Reuters Messaging: anirban.nag.thomsonreuters@reuters.net)) Keywords: MARKETS STERLING/

POLONIA Rate rises 0.03 pp.

October 22, 2014 - reuters.com

WARSAW, Oct 22 (Reuters) - POLONIA the reference rate for Overnight deposits amounted to 2.03 percent. The volume of transactions concluded till 16:30 by banks participating in POLONIA fixing amounted to 2,715 mln PLN. Note: Description of reference rate at: http://www.acipolska.pl/ ((warsaw.newsroom@reuters.com))

FOREX-Dollar gains on uptick in U.S. CPI, euro banking concerns

October 22, 2014 - reuters.com

(Recasts with US data, updates prices, adds comment, changes dateline from LONDON, changes byline) * U.S. Sept CPI slightly above forecast, gives dollar added boost * Euro at one week low, weaker on banking sector worries * BoE minutes pushes sterling down By Daniel Bases NEW YORK, Oct 22 (Reuters) - The U.S. dollar extended broad-based gains on Wednesday after marginally higher-than-expected U.S. inflation data coupled with earlier concerns over European banks sent the greenback to one-week highs against the euro. A slight uptick in September U.S. CPI data, a 0.1 percent rise versus a mean forecast of no change, helped push U.S. Treasury yields up, supporting the greenback. ID:nL2N0SG1XI "To a large extent, the dollar is following U.S. yields. The sharp drop in U.S. yields last week was driven by fears of a slowing recovery and disinflationary pressures," said Vassili Serebriakov, currency strategist at BNP Paribas in New York. "There weren't any big surprises in CPI but the fact that it was a little firmer at the headline kind of helps nudge the market's expectations closer to the Fed's, even though the gap is still quite large," he said. Spanish news agency EFE, citing unnamed financial sources, said 11 euro zone banks were set to fail this weekend's long-awaited stress tests. ID:nL6N0SH1XK That followed a Reuters report on Tuesday that the European Central Bank was looking at buying corporate bonds to boost euro liquidity. After the U.S. data, the euro dropped to a fresh one-week low of $1.2657, down 0.44 percent on the day EUR= . The dollar traded at 107.18 yen, a gain of 0.20 percent JPY= . Sterling dropped 0.43 percent to $1.6040 GBP= , undermined by minutes from a Bank of England meeting showing the Monetary Policy Committee's nine members saw "few signs" of inflation pressures building. This indicated the drive toward tighter monetary policy was losing some steam. Just two members voted to raise interest rates, according to the minutes. "Calls for a rate hike early next year are diminishing, and if things continue as they are it might not be long before we see the first hike priced in for early 2016 instead," said Alex Edwards, head of the corporate desk at UKForex. The ECB, which will publish the test outcomes for 130 banks on Sunday, warned after the EFE report that final results had not yet been sent to the lenders involved, and it could not comment on individual institutions. Any inferences drawn would be "highly speculative", it said. But the report adds to a longer list of concerns about getting Europe onto a stronger growth footing and avoiding sinking into a debilitating cycle of deflation. Several sources told Reuters on Tuesday the ECB was considering buying corporate bonds on the secondary market in an effort to boost the flailing euro zone economy, and could begin buying the bonds early next year. ID:nnL6N0SG1Z0 ECB Governing Council member Luc Coene told Belgian media there were no concrete plans for corporate bond purchases, but said this could be a way to prevent the bank from paying too much for just covered bonds and asset backed securities. ID:nL6N0SH117 (Additional reporting by Anirban Nag, Jemima Kelly and Patrick Graham; Editing by Mark Heinrich and Meredith Mazzilli) ((daniel.bases@thomsonreuters.com; +1 646 223 6131; Reuters Messaging: daniel.bases.reuters.com@reuters.net; Twitter: @djbases)) Keywords: MARKETS FOREX

BRIEF-Golden Star Resources announces filing of PEA for Wassa mine

October 22, 2014 - reuters.com

Oct 22 (Reuters) - Golden Star Resources Ltd GSC.TO : * Announces filing of PEA for Wassa mine * Says project to be funded with $35 million of existing credit facilities * First production from wassa underground expected early 2016, estimated mine life of 10 years thereafter for combined operation * Expects to produce 260,000 - 280,000 ounces of gold in 2014 * Says pre-production incremental capital expenditure to develop underground mine estimated at $41 million * Source text for Eikon ID:nMKWN28yda * Further company coverage GSC.TO ((Bangalore Newsroom; +1 646 223 8780))

CANADA FX-C$ firms to session high after Bank of Canada drops "neutral" reference

October 22, 2014 - reuters.com

TORONTO, Oct 22 (Reuters) - The Canadian dollar recouped its losses and strengthened to a session high after the Bank of Canada, which had signaled that it would generally not give forward guidance on the direction of interest rates anymore, dropped its reference to neutrality in its rate statement on Wednesday. ID:nBCLMLEA66 The Canadian dollar CAD=D4 , which touched its weakest level of the session earlier after August retail sales unexpectedly declined, firmed to a session high of C$1.1191, or 89.35 U.S. cents. This was stronger than Tuesday's close of C$1.1228, or 89.06 U.S. cents. (Reporting by Solarina Ho; Editing by Chizu Nomiyama) ((solarina.ho@thomsonreuters.com; 1-416-941-8067; Reuters Messaging: solarina.ho.thomsonreuters.com@reuters.net; Twitter: @shtweet)) Keywords: MARKETS CANADA/CURRENCY

London platinum/palladium 1400 fix - Oct 22

October 22, 2014 - reuters.com

PRECIOUS-Gold dips from 6-week peak as dollar firms, physical demand eases

October 22, 2014 - reuters.com

* Gold outlook bolstered by uncertainty over growth * Chinese demand hurt by rising prices-traders (Updates prices) By Jan Harvey LONDON, Oct 22 (Reuters) - Gold eased on Wednesday from the previous day's 6-week peak as the dollar rose to a one-week high against the euro and on signs of softening physical demand. Prices were supported however by worries over the outlook for the global economy, heightened this week after China said third-quarter growth was the slowest since 2009. That has lifted appetite for counter-cyclical assets such as gold. Spot gold XAU= was down 0.1 percent at $1,248.15 an ounce at 1222 GMT, while U.S. gold futures GCv1 for December delivery were down $2.90 an ounce at $1,248.80. On Tuesday gold rose to its highest since Sept. 10 at $1,255.20 an ounce. "Any period of dollar strength is going to weigh on gold," Mitsui Precious Metals analyst David Jollie said. "(But) we've moved from people having a very bearish sentiment to a more mixed sentiment, and a more bullish outlook." "We're getting hints that people are concerned about deflation, hints that the Federal Reserve may delay interest rates rises," he said. "We haven't yet necessarily changed to a position where people are expecting a 10 percent, 20 percent rally. Until we get that, we may not see the full strength of general investor flows." The dollar further pared this month's losses on Wednesday as the euro fell below $1.27 for the first time in a week, on a newswire report that at least 11 banks are set to fail the European Central Bank's stress tests, results of which are due on Sunday. FRX/ European shares edged up, meanwhile, on upbeat company earnings results and hopes of corporate bond buying by the European Central Bank. MKTS/GLOB While gold in the short term is hostage to moves in the wider markets, its resilience at the $1,180 level, which it bounced off for a third time earlier this month, is reviving investors' interest in the metal, analysts said. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ GRAPHIC-2014 commod returns: http://link.reuters.com/reb25t GRAPHIC-Gold/USD correlation: http://r.reuters.com/ryx52s GRAPHIC-Inflation adjusted gold: http://r.reuters.com/pun62s ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> GOLD BUYING EASES IN CHINA Gold buying in number one consumer China has weakened after prices rose, dealers said, while Indian demand is also likely to be lower following the festival of Diwali this week. "The Chinese were sellers today, which was of no real surprise, but did not chase the market lower," precious metals house MKS said in a note. "The premium today on the Shanghai Gold Exchange was a little lower, which was reflective of the broad-based selling, sitting between $1-$2 over spot." China and India dominate the world physical gold market, accounting for more than half of global fabrication demand for the metal between them. Spot platinum XPT= was down 0.2 percent at $1,270 an ounce, while spot palladium XPD= was up 0.1 percent at $772.70 an ounce. Silver XAG= was down 0.7 percent at $17.35 an ounce. Official customs data showed China's platinum imports fell 18.5 percent in September to 8,615 kg, and were down by a similar percentage in the year to date. ID:nEAP222543 China's silver imports were little changed in September at 243,071 kg, the data showed, while its palladium imports were up 5 percent at 2,050 kg last month and 28 percent year to date. (Editing by Keiron Henderson and William Hardy) ((jan.harvey@thomsonreuters.com)(+44)(0)(207 542 7744)(Reuters Messaging: jan.harvey.thomsonreuters.com@reuters.net)) Keywords: MARKETS PRECIOUS/

Gold miners' outstanding forward sales jump 61 pct in Q2 -report

October 22, 2014 - reuters.com

* Russia's Polyus Gold accounts for jump in Q2 hedging * Forward sales will rise by net 40 T in 2014-report LONDON, Oct 22 (Reuters) - The volume of gold sold forward by mining companies jumped 61 percent in the second quarter after Russia's Polyus Gold PGIL.L added a major new hedge position, an industry report showed on Wednesday. In their quarterly Global Hedge Book Analysis, released on Wednesday, Societe Generale and GFMS analysts at Thomson Reuters said they are predicting net hedging for the year of 40 tonnes, the most since 1999. They forecast in July that gold producers would return to net hedging this year for the first time since 2011. ID:nL6N0PF2J8 Volumes of hedging predicted for this year are still well below the levels seen in the late 1990s. Net producer hedging in 1999 reached 506 tonnes, according to GFMS data. Hedging, or selling future gold XAU= production, allows miners of the metal to lock in prices for their output. While it can protect producers when prices are falling, the practice can also stop them capitalising on a rising market, making it hugely unpopular during the decade-long bull run in gold that began in 2001. GFMS and Societe Generale estimated in Wednesday's report that only around 1 percent of total global gold production to 2018 is covered by hedge structures over the same period. Some new hedging has been seen so far in the third quarter, the report said, including from Norton Gold Fields NGF.AX and St Barbara SBM.AX , while Mexico's Fresnillo FRES.L recently indicated it may hedge 44 percent of production from a newly acquired project. Nonetheless, Societe Generale and GFMS predicted net de-hedging in the second half of the year. Despite the Polyus hedge, they said it would be "incorrect" to conclude that hedging has become more acceptable amongst gold mining companies and their investors. "It could be argued that there is little incentive for producers to hedge at current gold prices, which have fallen so close to the industry average cost that producers near the top of the cost curve have already missed their chance to lock in positive margins," they said in the report. "As many mine plans were formulated on the basis of higher gold prices seen during the previous two to three years, cost-cutting is proving a more compelling strategy for producers." (Reporting by Jan Harvey; editing by Susan Thomas) ((jan.harvey@thomsonreuters.com; +44)(0)(207 542 7744; Reuters Messaging: jan.harvey.reuters.com@reuters.net)) Keywords: GOLD HEDGES/REPORT

GLOBAL MARKETS-European shares fall as bank stress test worries offset ECB stimulus talk

October 22, 2014 - reuters.com

* Efe says at least 11 banks to fail EU stress tests * Sources say ECB considering buying corporate bonds * Earnings results beat expectations in Europe, the U.S. (Recasts) By Marius Zaharia LONDON, Oct 22 (Reuters) - European shares slipped and the euro hit a one-week low on Wednesday as reports that at least 11 banks could fail a region-wide financial health check this weekend offset hopes of corporate bond buying by the ECB. Spanish news agency Efe cited several unidentified sources saying three banks in Greece, three Italian lenders, two Austrian banks, as well as one bank each from Cyprus, Belgium and Portugal will fail the stress tests. The results of the checks, designed to see how banks would cope under adverse economic scenarios, are due on Sunday. ID:nL6N0SH1TY Spanish Economy Minister Luis de Guindos said he was confident Spanish lenders would do well. ID:nS8N0RO039 The FTSEurofirst 300 .FTEU3 index of top European shares was down 0.18 percent at 1,296.98 points. "It is a dampener," said Beaufort Securities sales trader Basil Petrides of the Efe report, which reversed an upbeat start in European trading on better-than-expected company earnings and hopes of ECB corporate bond buying. ID:nL6N0SG1Z0 So far in Europe's earnings season, 9 percent of STOXX 600 .STOXX companies have reported results, of which 65 percent have met or beaten profit forecasts, according to data from Thomson Reuters StarMine. Swiss engineering group ABB ABBN.VX , outdoor equipment maker Husqvarna HUSQb.ST and French carmaker PSA Peugeot Citroen PEUP.PA were the latest to do so, while Heineken HEIN.AS bucked the trend, reporting lower-than-expected sales. .EU European companies also got a lift after several sources told Reuters on Tuesday that the European Central Bank was considering buying corporate bonds on the secondary market and may make a final decision as soon as December with a view to beginning purchases early next year. That would expand the private sector asset-buying programme the ECB began on Monday, with the aim of giving the euro zone economy a shot in the arm and safeguarding it from deflation, which has already gripped five of its 18 members. The euro EUR= hit a one-week low of 1.26805 against the dollar, partly on the talk of more ECB activism. "The general takeaway here for a lot of people is that it shows commitment from the ECB trying to find ways to expand its balance sheet. And also it shows ... the ECB wanting to pick up the pace," said Paul Robson, a currency strategist at RBS. In Britain, the pound GBP=D4 fell after Bank of England minutes showed policymakers were firmly against raising interest rates when they met earlier this month. GBP/ NERVES The market moves were tentative as investors remain nervous about the state of the global economy, with the euro zone a particular soft spot. Such worries may intensify on Thursday when regional business surveys are due. Later on Wednesday, traders will pay close attention to U.S. inflation data, due at 1230 GMT. Economists expect annual core CPI inflation to stay flat at 1.7 percent in September, and a cooler reading would add to speculation that the Federal Reserve will wait longer before raising interest rates. The consensus view is that the U.S. central bank will decide at its Oct. 28-29 policy meeting to wrap up its third round of asset purchases with new money, known as quantitative easing. But short-term interest rates futures imply markets do not expect the Fed to hike rates until late 2015. Euro zone bond yields extended their falls on the back of the ECB's plans. German 10-year Bund yields DE10YT=TWEB , which set the standard for euro zone borrowing costs, fell 1 basis point to 0.86 percent. Peripheral bond yields fell by more. "The news of bond buying had quite a beneficial effect on the non-German bond markets, for good reason, so spread narrowing was quite substantial and today there is still some after-effect of that," said KBC strategist Piet Lammens. In other markets, oil LCOc1 edged further above $86 a barrel after an industry report showed a smaller-than-expected rise in U.S. crude inventories, extending a tentative recovery in the oil price from a four-year low. O/R Gold XAU= eased from six-week highs. GOL/ (Additional reporting by Jemima Kelly and Michael Urquhart in London and Lisa Twaronite in Tokyo; Editing by Catherine Evans and Susan Fenton) ((marius.zaharia@thomsonreuters.com; +44)(0)(207 542 0950; Reuters Messaging: marius.zaharia.thomsonreuters.com@reuters.net)) Keywords: MARKETS GLOBAL/

Deals of the day- Mergers and acquisitions

October 22, 2014 - reuters.com

Oct 22 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday: ** Daimler AG DAIGn.DE said on Tuesday it would book a $780 million windfall from selling its 4 percent stake in rival electric car maker Tesla Motors Inc TSLA.O . ID:nL2N0SG2VT ** Interdealer broker BGC Partners Inc BGCP.O went ahead with its hostile $675 million bid for rival GFI Group Inc GFIG.N after talks between the two companies reached a deadlock. ID:nL3N0SH2LQ ** Kinross Gold Corp K.TO has agreed to sell its halted Fruta del Norte gold project in Ecuador to a company belonging to the Swedish-Canadian Lundin family for $240 million, Kinross and the company, Fortress Minerals Corp FSTh.V , said on Tuesday. ID:nL2N0SG33U ** German airline Lufthansa LHAG.DE said on Wednesday it was close to selling its IT infrastructure division and completing an outsourcing deal with IBM IBM.N , which will result in a 240 million euro ($305.57 million) pre-tax charge in 2014. ID:nASN00052G ** Slovenia's state-owned Telekom Slovenia TLSG.LJ , which was put up for sale earlier this year, is expected to be sold in early 2015, a senior official at the finance ministry told reporters on Wednesday. ID:nL6N0SH28C ** Japanese retailer Aeon Co Ltd 8267.T said it would discuss the possible acquisitions of Welcia Holdings Co Ltd 3141.T and CFS Corp 8229.T at a board meeting later on Wednesday. ID:nL3N0SG7KZ ** Data storage products maker EMC Corp EMC.N is buying much of Cisco System Inc's CSCO.O stake in their joint venture VCE, Bloomberg said, citing people with knowledge of the matter. ID:nL3N0SG7MF ** Zuercher Kantonalbank said on Wednesday it was in talks with Swiss investment fund provider Swisscanto Holding SWIS.UL about a possible takeover. ID:nFWN0SG02L ($1 = 0.79 euro) (Compiled by Anannya Pramanick in Bangalore) ((anannya.pramanick@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 3143 ; Reuters Messaging: anannya.pramanick.thomsonreuters.com@reuters.net)) Keywords: DEALS DAY/

London gold 1030 fix - Oct 22 - 1246.75 dlrs

October 22, 2014 - reuters.com

London platinum/palladium 0945 fix - Oct 22

October 22, 2014 - reuters.com

GLOBAL MARKETS-Upbeat earnings, hopes of more ECB stimulus lift mood in Europe

October 22, 2014 - reuters.com

* Sources say ECB considering buying corporate bonds * Earnings results beat expectations in Europe, the U.S. * European shares inch up, euro hits one-week low, yields fall By Marius Zaharia LONDON, Oct 22 (Reuters) - European shares edged up and the euro hit a one-week low against the dollar on Wednesday, driven by upbeat company earnings results and hopes of corporate bond buying by the European Central Bank. Shares in Swiss engineering group ABB gained 3.1 percent after posting a bigger-than-expected rise in orders, helped by demand from the oil and gas industries. Outdoor equipment maker Husqvarna HUSQb.ST surged 6.1 percent after reporting a rise in earnings that was above forecasts. The market moves were tentative as investors remain nervous about the state of the global economy, with the euro zone a key soft spot. Such worries may intensify on Thursday when regional business surveys are due. Several sources told Reuters on Tuesday the ECB was considering buying corporate bonds on the secondary market and may make a final decision as soon as December with a view to begin purchases early next year. ID:nL6N0SG1Z0 That would expand the private sector asset-buying programme the ECB began on Monday with the aim of giving the economy a shot in the arm and safeguarding the euro zone from deflation, which has already gripped five of its 18 members. The FTSEurofirst 300 .FTEU3 index of top European shares was up 0.1 percent at 1,300.72 points, after surging 2.1 percent on Tuesday. The euro EUR= hit a one-week low of 1.27025 before bouncing to 1.2719, virtually flat on the day. "The general takeaway here for a lot of people is that it shows commitment from the ECB trying to find ways to expand its balance sheet. And also it shows ... the ECB wanting to pick up the pace," said Paul Robson, a currency strategist at RBS. In the United States, Apple Inc AAPL.O and Texas Instruments TXN.O posted stronger-than-expected quarterly earnings, lifting the tech-heavy Nasdaq Composite Index .IXIC more than 2 percent on Tuesday. ID:nL2N0SF2DN That, together with data showing a stronger-than-expected 2.4 percent rise in U.S. domestic home resales last month provided evidence that the U.S. economic recovery maintained some momentum. ID:nL2N0SG13R "Sentiment turned positive overnight on good earnings reported by U.S. corporates, much better than expected U.S. existing home sales data and the rumours that the ECB is considering the option of buying corporate bonds in the secondary market," said Daniel Lee at Credit Agricole. Some hopes were also coming from Japan, where trade data showed exports rose 6.9 percent in September from a year earlier, the fastest pace in seven months. ID:nL3N0SG1JT INFLATION NEXT The upbeat signals from the United States bolstered the dollar, although traders were wary of U.S. inflation data due at 1230 GMT. Economists expect annual core CPI inflation to stay flat at 1.7 percent in September, and a cooler reading would add to speculation that the Federal Reserve will wait longer before raising interest rates. The consensus view is that the U.S. central bank will decide at its Oct 28-29 policy meeting to wrap up its third round of asset purchases with new money, known as quantitative easing. But short-term interest rates futures imply markets do not expect the Fed to hike rates until late 2015. The dollar inched lower on the day against the yen JPY= to 106.88 yen. Euro zone bond yields extended their falls on the back of the ECB's plans. German 10-year Bund yields DE10YT=TWEB , which set the standard for euro zone borrowing costs, fell 1 basis point to 0.86 percent. Peripheral bond yields fell by more. "The news of bond buying had quite a beneficial effect on the non-German bond markets, for good reason, so spread narrowing was quite substantial and today there is still some after-effect of that," said KBC strategist Piet Lammens. (Additional reporting by Jemima Kelly and Michael Urquhart in London and Lisa Twaronite in Tokyo; Editing by Catherine Evans) ((marius.zaharia@thomsonreuters.com; +44)(0)(207 542 0950; Reuters Messaging: marius.zaharia.thomsonreuters.com@reuters.net)) Keywords: MARKETS GLOBAL/

INDICATORS - Kazakhstan - Oct 22

October 22, 2014 - reuters.com

PRECIOUS-Gold hovers near 6-week peak amid China slowdown woes

October 22, 2014 - reuters.com

* Gold has solid support at $1,200 -Standard Bank * Coming up: U.S. consumer prices at 1230 GMT (Updates prices) By Manolo Serapio Jr SINGAPORE, Oct 22 (Reuters) - Gold was trading near its highest level since early September on Wednesday, supported by concerns over slower economic growth in China, although expectations Asian physical demand may slacken kept gains in check. Worries over the fate of the global economy heightened this week after China said third-quarter growth was the slowest since 2009, lifting appetite for safe-haven assets such as gold. Spot gold XAU= was little changed at $1,248.69 an ounce by 0624 GMT, not far below Tuesday's peak of $1,255.20, which was its highest since Sept. 10. U.S. gold futures GCcv1 eased 0.2 percent to $1,249.20 an ounce. Gold's relative strength reflects the continued uncertainty in the global economy, said Yuichi Ikemizu, branch manager at Standard Bank in Japan. "Gold and other metals have been a bit oversold and $1,200 is quite a solid support level. We have also seen Chinese buying this month that has supported gold," said Ikemizu. Bullion has risen more than 3 percent this month after tumbling 6 percent in September in what was its steepest monthly drop since June 2013 following a rally in the U.S. dollar. Outside China, efforts are underway in Europe to revive a flagging economy. The European Central Bank is considering buying corporate bonds on the secondary market and may decide as soon as December with a view to begin purchases early next year. ID:nL6N0SG2VZ Jason Cerisola, metals dealer at MKS Group, said in a note that gold could come under pressure in coming days as demand from top consumers China and India tapers off. Buying from India has accelerated in recent weeks ahead of the Diwali festival on Wednesday. Precious metals prices 0624 GMT Metal Last Change Pct chg Spot Gold 1248.69 -0.45 -0.04 Spot Silver 17.43 -0.07 -0.40 Spot Platinum 1274.25 1.25 +0.10 Spot Palladium 773.20 1.40 +0.18 COMEX GOLD DEC4 1249.20 -2.50 -0.20 COMEX SILVER DEC4 0.17 0.00 -0.51 Euro/Dollar 1.2729 Dollar/Yen 106.86 COMEX gold and silver contracts show the most active months (Reporting by Manolo Serapio Jr.; Editing by Richard Pullin, Anand Basu and Joseph Radford) ((manolo.serapio@thomsonreuters.com; +65 6870 3884; Reuters Messaging: manolo.serapio.thomsonreuters.com@reuters.net))

Keywords: MARKETS PRECIOUS/

Russia's Petropavlovsk says Q3 gold output up 2 pct q/q at 150,100 oz

October 22, 2014 - reuters.com

MOSCOW, Oct 22 (Reuters) - Russia-focused gold miner Petropavlovsk POG.L said on Wednesday it increased gold output by 2 percent in the third quarter compared to the previous quarter to 150,100 troy ounces. The company also said it continues to make progress in discussions with senior lenders, bondholders, other stakeholders and third parties about securing refinancing for the group. (Reporting by Andrey Kuzmin; Editing by Alexander Winning) ((andrey.kuzmin@thomsonreuters.com; +74957751242; Reuters Messaging: andrey.kuzmin.thomsonreuters.com@reuters.net)) Keywords: RUSSIA PETROPAVLOVSK/OUTPUT

Russia's Nord Gold says Q3 revenue up 6 pct y/y at $344.8 mln

October 22, 2014 - reuters.com

MOSCOW, Oct 22 (Reuters) - Russian gold miner Nord Gold NORDNQ.L said on Wednesday that its third-quarter revenue was up 6 percent, year-on-year, at $344.8 million thanks to higher gold production and sales volumes. Nord Gold, controlled by businessman Alexei Mordashov, also said that gold output in the third quarter was up 11 percent, year-on-year, and that it was on track to achieve the upper end of its full-year production guidance of 900-950 gold equivalent ounces. (Reporting by Andrey Kuzmin; Writing by Alexander Winning) ((alexander.winning@thomsonreuters.com; +7 495 775 1242; Reuters Messaging: alexander.winning.thomsonreuters.com@reuters.net)) Keywords: RUSSIA NORD GOLD NV/REVENUE

BRIEF-Sibanye Gold FY production forecast unchanged at 50,000 kg

October 22, 2014 - reuters.com

Oct 22 (Reuters) - Sibanye Gold Ltd SGLJ.J * Forecast production for year ending 31 december 2014 remains unchanged at 50,000kg (1.61moz) * Total cash cost is forecast at approximately r295,000/kg (us$850/oz) and all-in cost at r380,000/kg ($1,095/oz) Source text for Eikon: ID:nJseV0004a Further company coverage: SGLJ.J ((Bangalore Newsroon +918067491130)) Keywords: SIBANYEGOLD/BRIEF

India Morning Call-Global Markets

October 22, 2014 - reuters.com

EQUITIES NEW YORK - U.S. stocks rallied on Tuesday, with the S&P 500 notching a fourth straight session of gains boosted by strong corporate results, including Apple's. The Dow Jones industrial average .DJI rose 215.14 points, or 1.31 percent, to 16,614.81, the S&P 500 .SPX gained 37.27 points, or 1.96 percent, to 1,941.28 and the Nasdaq Composite .IXIC added 103.40 points, or 2.4 percent, to 4,419.48 For a full report, click on .N - - - - LONDON - Gains in big oil companies and drugmaker Shire SHP.L lifted Britain's top equity index on Tuesday, which extended a rebound after falling to 15-month lows last week. The FTSE 100 index .FTSE closed up by 1.7 percent, or 105.26 points, at 6,372.33 points For a full report, click on .L - - - - TOKYO - Japanese stocks soared more than 2 percent on Wednesday, as the prospect of the European Central Bank taking further measures to support a faltering economy and strong gains in Apple Inc AAPL.O -related shares eased concerns over slowing global growth. The Nikkei share average .N225 added 299.27 points to 15,104.31 in mid-morning trade after sliding 2.0 percent on the previous day. For a full report, click on .T - - - - HONG KONG - Hang Seng Index .HSI is trading 0.75 percent higher. For a full report, click on .HK - - - - FOREIGN EXCHANGE SYDNEY - The euro flirted with one-week lows on Wednesday following a Reuters report that the European Central Bank is considering buying corporate bonds, while recovery in risk appetite underpinned the dollar against the yen. The euro traded at $1.2710 EUR= , near its lowest level since Thursday last week after having fallen 0.7 percent on Tuesday. For a full report, click on USD/ - - - - TREASURIES NEW YORK - U.S. Treasuries prices fell on Tuesday as less worrisome data on China and a report on the European Central Bank possibly moving to buy regional corporate bonds allayed some concerns about the global economy and reduced safe-haven bids for low-risk government debt. A rebound in European stock prices on the Reuters report about the ECB following Monday's drop and a rally on Wall Street from upbeat earnings from iPhone maker Apple AAPL.O also put selling pressure on bonds. For a full report, click on US/ - - - - COMMODITIES GOLD SINGAPORE - Gold was trading near its highest level since early September on Wednesday, supported by concerns over slower economic growth in China. Spot gold XAU= was little changed at $1,247.45 an ounce by 0036 GMT, not far below Tuesday's peak of $1,255.20, which was its loftiest since Sept. 10. For a full report, click on GOL/ - - - - BASE METALS SYDNEY - London copper paused for breath on Wednesday after lodging its biggest one-day advance in two months on prospects of fresh easing in Europe and further signs of economic revival in the United States. Three-month copper on the London Metal Exchange CMCU3 traded flat at $6,668 a tonne by 0038 GMT after a 1.6 percent gain in the previous session, its biggest one-day rise since Aug. 20. Prices are still down more than 9 percent this year. For a full report, click on MET/L - - - - OIL NEW YORK - Brent crude oil ended up almost 1 percent on Tuesday, helped by data showing stronger-than-expected China demand and some technical price recovery after weeks of almost uninterrupted selling. Brent LCOc1 settled up 82 cents at $86.22 a barrel. It rose as much as $1.06, or 1.2 percent, during the session to $86.48. It rose more than 10 cents in post-settlement trade, reacting to the API data. For a full report, click on O/R (Compiled by Indulal PM) ((indulal.p@thomsonreuters.com; +91-22-6180-7183; Reuters Messaging: indulal.p.thomsonreuters.com@reuters.net)) Keywords: MORNINGCALL INDIA/

Veuillez vous identifier

Veuillez noter que pour voir le texte en entier vous devez vous identifier.

Veuillez vous identifier sur la page easy-forex ( les nouveaux clients doivent s’enregistrer)

Merci