The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Alexei Navalny, the fiercest foe of Russian President Vladimir Putin who crusaded against official corruption and staged massive anti-Kremlin protests, died in prison Friday, Russia’s prison agency said.
The Federal Prison Service said in a statement that Navalny felt unwell after a walk on Friday and lost consciousness. An ambulance arrived to try to rehabilitate him, but he died.
Navalny was 47.
Navalny’s spokeswoman Kira Yarmysh said on X, the platform formerly known as Twitter, that the politician’s team had no confirmation of his death so far and that his lawyer was traveling to the town where he was held.
Navalny, who was serving a 19-year sentence on charges of extremism, was moved in December from his former prison in the Vladimir region of central Russia to a “special regime” penal colony — the highest security level of prisons in Russia — above the Arctic Circle.
His allies decried the transfer to a colony in the town of Kharp, in the Yamalo-Nenets region about 1,900 kilometers (1,200 miles) northeast of Moscow, as yet another attempt to force Navalny into silence.
The remote region is notorious for long and severe winters. Kharp is about 100 kilometers (60 miles) from Vorkuta, whose coal mines were part of the Soviet gulag prison-camp system.
Navalny had been behind bars since January 2021, when he returned to Moscow after recuperating in Germany from nerve agent poisoning that he blamed on the Kremlin. Before his arrest, he campaigned against official corruption, organized major anti-Kremlin protests and ran for public office.
He had since received three prison sentences, all of which he rejected as politically motivated.
In Putin’s Russia, political opponents often faded amid factional disputes or went into exile after imprisonment, suspected poisonings or other heavy repression. But Navalny grew consistently stronger and reached the apex of the opposition through grit, bravado and an acute understanding of how social media could circumvent the Kremlin’s suffocation of independent news outlets.
He faced each setback — whether it was a physical assault or imprisonment — with an intense devotion, confronting dangers with a sardonic wit. That drove him to the bold and fateful move of returning from Germany to Russia and certain arrest.
Navalny was born in Butyn, about 40 kilometers (25 miles) outside Moscow. He received a law degree from People’s Friendship University in 1998 and did a fellowship at Yale in 2010.
He gained attention by focusing on corruption in Russia’s murky mix of politicians and businesses; one of his early moves was to buy a stake in Russian oil and gas companies to become an activist shareholder and push for transparency.
https://english.ahram.org.eg/NewsContent/2/9/517849/World/International/Russia;s-prison-service-says-that-imprisoned-oppos.aspx
Great to see and key cryptos too.
I recall so many gleefully predicting it’s demise only just over a year ago when it was about 16,000usd, now over trebled since then.
Sell signal in my book.
Major European indexes rose on Friday's premarket session in anticipation of the fresh data on the United Kingdom's retail sales, Swiss producer prices, and French inflation. In addition, the world's leading forum for debating international security policy, the Munich Security Conference, will start today.
The Euro Stoxx 50 climbed 0.49% at 8:00 am CET, the DAX was up 0.24%, the CAC 40 added 0.14% and the FTSE 100 rose 0.07% at the same time.
At 7:58 am CET, the euro fell 0.09% against the dollar, going for 1.07622. The British pound fell 0.10% at the same time to go for 1.25837, respectively.
Baha Breaking News (BBN) / DD
Happy Friday y’al
Enjoy your weekend
Gold currently $2003.86
Look very good and durable.
All that matters is production and a good price of gold = more profit for the expanding future.
But Traders will not be interested, but thats ok.
Commissioning of new underground drill rig at Sukari
https://www.linkedin.com/posts/mahmoud-raslan-671a3a135_undergroundmining-sukari-centaminabregypt-ugcPost-7160582553094008835-NSUo
First para, line 3, word 1 should be marker not market.
The markets of course over the years have always hit all time highs so and look back it goes higher - this is not a market I use as inconsistent.
Like I said yesterday the markets do what the market does and so do the fed - and they both work into the future -
Therefore as data comes out the fed will act and the markets will react and continue to predict on fed.
The fed must not allow a hard landing there can be a cut even with markets high, but they balance and time with data- hence the current predictions of delay in easing due to data.
Over the past few years I’ve consistently displayed this data approach and consistently outperformed.
Struggle to see why people use charts, cliches like “bull trap” and so on - how much evidence do you need ?
I only do this to help.
Steve
I bought some shares yesterday sub 90p mark. Will hold on to them unless this pushes up to 94p area and collect 5%. With shares in USA at all time highs some of which is Absolutely Inaccurate stock, I can not see how FED can put down rates. The pull back has to unfold first on a stock exchange where companies are earning less money every quarter. However if the earnings beat a sharply reduced low ball estimate we have bloomberg running around say that stats were out performance and stocks are cheap. Can not make up that media garbage and somehow they can keep a straight face.
You’ll not be surprised that I don’t agree
Tony. Not saying won’t go down, but future data decides incl fed speaker comments. Bull traps are simply the correction reaction to data released.
CEY looking good for a decent bounce off support to me....I'm in...gl holders...;-)
This is possibly a bull trap in the making. Stock options expiry in USA tomorrow. Gold to continue falling next week is the trend. Spot price gold target around $1973. Centamin has strong support on 89p. If it loses that support line the tape will run this share price back down into low 80's. Eventually Centamin and gold to rally and the USD shakes off overbought positioning.
Hi 3bear,
Yes, markets work on futures.
So the markets are where they are now at the point of this data, they drop as US cpi exceeded meaning spending is up, rate cuts predictions slow so more cooling (well actually delaying easing with the overall trend line). FED pay attention more to PCE. Inflation going below consensus predictions indicates too much tightening so need to make it cheaper to borrow (easing etc) to stop it being too late to cause economic major issues- it’s a complex timing issue and in my view the FED doing it well. The markets do not see this higher cpi as a big issue and are fine with the fed hence the rise yesterday in markets over there. Had they thought a slight cpi issue was not controllable then they would have plunged a lot further again yesterday.
Borrowing levels globally are high clearly but growth is key to driving these down- a “heavy landing” would be dire for this.
Major European indexes rose in Thursday's premarket trading as investors digested multiple corporate earnings, including reports from Airbus, Commerzbank and Renault. Elsewhere, market watchers are also keeping an eye on today's NATO Defense Ministers' meeting in Brussels and awaiting the Munich Security Conference, set to kick off tomorrow.
The Euro Stoxx 50 climbed 0.53% at 8:09 am CET, the DAX was up 0.07%, the CAC 40 added 0.22% and the FTSE 100 rose 0.20% at the same time.
The euro and the pound both traded flat against the dollar, going for 1.07334 and 1.25584, respectively, at 8:10 am CET.
Baha Breaking News (BBN) / NP
Gold currently $1993.09
Well Hong Kong dosent seem to have made the slightest difference ,so far.
So have to wait now for SSE to open Sunday night. :-)
The prices of silver, platinum, and palladium advanced on Wednesday after plunging the previous day following the report on the United States' annual inflation that showed a higher-than-expected 3.1% in January. Traders seemingly still evaluated how the Federal Reserve will react to the news and which commodity they should invest in.
Meanwhile, it was reported that Intel Corporation is seeking to raise at least $2 billion in equity to build a new semiconductor-making plant in Ireland, increasing interest in palladium.
Gold went down by 0.06% at 12:06 pm ET to sell for $1,1991.34 per ounce. On the other hand, silver rose by 1.47% at 12:07 pm ET, going for $22.40 per ounce. At the same time, platinum gained 2.02%, selling for $893.22 per ounce. A minute later, palladium grew by 7.92% to go for $918.01, having soared by almost 8.5% minutes earlier.
Baha Breaking News (BBN) / JR
At London close GDX managed to hold the support line it lost mid-afternoon.
At "20.18 European time. if my information is right ??
Hong Kong should be open. Cant wait to see if that makes a difference to GP.
Hi 3bear,
To get back the cost of linking up to the grid over a year is dependant on a reliable supply and the frequency and duration of running the Sukari generators to cover.
So the Sukari generators will still have to be maintained in readiness with a readily available supply of diesel
Renewable energy is critical for attaining long-term development. The Egyptian government, in collaboration with the business sector, is making significant strides toward the expansion of renewable energy production. This research includes a review of these initiatives, as well as information on renewable energy projects in Egypt and their share of the overall output.
https://www.sciencedirect.com/science/article/pii/S2352484722012446
Egypt electricity production up by 30,000 MW in 6 years: Ministry spokesperson
Nada Nader,
Egypt’s electricity production has increased by over 30,000 megawatts (MW) in six years, an unprecedented leap towards achieving surplus levels, Ministry of Electricity and Renewable Energy spokesperson https://www.lse.co.uk/ShareChat.html?ShareTicker=CEY&share=Centamin-PLC&thread=211C4305-0C7F-4FE4-B92F-9A02C4F31A1D&reply=true
Will soon find out if it invalidates or continues to drop to October 2023 low.
Hi Tibbs - I think energy coming from the grid was going to be 50% cheaper than diesel generation at Sukari so they've got a bit of leeway for price rises.
Also if there are power cuts they are keeping the HFO gensets so can just fire them up again.
Either way they expect to recover the cost of grid connection in just over a year not to mention the benefit to the environment of not burning 10 million litres of diesel every month on electrical generation.
Both of these Eygptian government announcements are pertinent to the upcoming grid hook-up at Sukari as one refers to the load shedding power cuts continuing in 2024 and the other in regards to the cost increase to consumers!
The Egyptian government began the plan to increase the prices of new electricity strips today, Tuesday, January 2, 2024, after postponing it for three consecutive times since July 2022, as it includes increasing the prices of the first four segments, by rates ranging between 16% and 26%
https://www.elbalad.news/6060307
https://www.elbalad.news/6085255
We live in crazy times.
Bad news on the economy means interest rates might be eased so equities and gold go UP.
If the economy does well rates might stay higher for longer so shares and gold go DOWN.
Good news is bad news and bad news is good news.
Bonkers.
S hour chart has Centamin heading to 89p this afternoon. A slow drop down unless somebody rescues gold and silver.
Just about holding thus far. If they break it is a 8-10% pullback. Gold and silver just holding critical support lines. A major pull back in equities could happen especially USA.