The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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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.
Major European stock indexes traded mostly higher during the premarket session on Wednesday as investors assessed the latest United Kingdom reports on inflation and producer prices. In business, Thyssenkrupp AG released its financial results for the first quarter of fiscal 2023/2024.
The DAX added 0.07% at 8:01 am CET, and the FTSE 100 climbed 0.74%. At the same time, the CAC 40 increased by 0.16%, while the Euro Stoxx 50 was flat.
The euro gained 0.07% against the dollar at 8:00 am CET, trading at $1.07146. The British pound lost 0.06% compared to the greenback, selling for $1.25824, simultaneously.
Baha Breaking News (BBN) / JJ
Happy hump lovers
*Don't forget the flowers chocolates and champagne, or she’ll take the hump! 💐🍫🥂
Hi Mr Bond,
You hit the golden nails on the head there!
90.85 close- pretty good considering.
It’s the markets Mr Bond, not the FED.
Any increase in CPI causes moves at this sensitive time, raising likelihood of delayed rate cut.
Better than forecast CPI would have elicited the opposite reaction.
The markets respond to data and so do the fed - although they view PCE with greater importance than CPI
It was to be expected Razors Edge.
This week was the perfect opportunity for the FED ,no matter what their figures showed to push Gold lower. Its Year of the Dragon ,chinnese New Years holiday ,.
Those in the 90's are now all closed.
Precious metals traded with losses on Tuesday, with gold falling more than 1% and silver plunging over 2% after the latest report showed that US annual inflation was 3.1% in January, which was higher than investors' forecasts. The latest figure seems to have raised concerns about what the Federal Reserve's next steps might be.
At 9:33 am ET silver dropped 2.15% to sell for $22.21 per ounce. Gold lost 1.11% at the same time to stand at $1,997.30 per ounce, hitting below $2,000 for the first time since December 13. A minute later, platinum declined by 2.50%, selling for $861.51 per ounce, while palladium sank 1.18% to go for $882.06 per ounce.
Baha Breaking News (BBN) / DD
Gold currently - 1.49% $1991.04
My post from the 8th below... alas so and the numbers not supportive:
SteveJones999- US Data8 Feb 2024 14:50
There some CPI seasonal revisions tomorrow, initial jobless claims showed employment still strong.
Next Tues is most likely (outside any surprise RNS here), the next potential move day- it’s monthly CPI data.
GLA.
European stock equities traded lower in the premarket hours on Tuesday in anticipation of new data releases, including an employment report in Britain, consumer inflation print in Switzerland, and a survey into economic sentiment across the euro area and Germany.
London's FTSE 100 was down 0.15%. The Euro Stoxx 50 dropped 0.25%. Frankfurt's DAX dipped 0.08%. The CAC 40 slipped 0.06%.
The euro was flat against the dollar, going for 1.07708 at 7:52 am CET. The pound sterling lost 0.06% versus the greenback, trading at 1.26209.
Baha Breaking News (BBN) / AB
*Behind every smile, there’s teeth.
Gold currently $2024.37
Hi Siko,
Firstly I am no supporter of PM Rishi Sunak or the majority of his parties foreign policies , or their UK policies come to that!
Just to reassure you I am not trying to discredit Eygpt or anyone else, unless of course it is justfiable to do so, which is why I am trying to ascertain if there is any truth in the allegations made in the media posts which I have provided the links to.
I think what is happening in Gaza and to all the people and other living creatures trapped there is appalling and that the NGO's and aid agencies should have unfettered access and shouldn't be subject to financial exploitation by corrupt border control officials.
People charity contributions should be used to support the cause, not line the pockets of spivs and and gangsters who always seem to profit during times of conflict and suffering the world over!
As a matter of interest if you care to listen to the BBC world service there are a growing number of Israelis who are against the way the Palestinians have been treated by their Israeli government .
Yael Noy and most of the Road to Recovery volunteers have continued to drive Palestinians from the West Bank to hospitals in Israel for cancer treatment,
Yael refuses to dehumanise them, or equate them with Hamas, which is classed as a terrorist organisation in the UK and other countries.
https://www.bbc.co.uk/news/world-67592468
https://www.goodpeoplefund.org/program/road-to-recovery/
https://www.euronews.com/2024/01/13/meet-the-israeli-charity-supporting-palestinians-amid-the-gaza-war
I have written to Centamin and to Capital Drilling's representatives as a shareholder to make them aware of these allegations making them aware that I have written to my MP asking that he raise these allegations of corruption with the responsible UK government departments. (see below abridged version of my letter)
Andrew Lewer MP
House of Commons
London
SW1A 0AA
12th Feb 2024
Dear Andrew,
I would be grateful if you could ask the relevant UK government department representative if there is any truth in these allegations of the responsible Eygptian government officials being complicit in such an appalling extortion racket on the Gaza border which if true are not only the exploitation of the already suffering people of the region, but also the charities and their generous and well meaning supporters.
http://tinyurl.com/yyhextmp
http://tinyurl.com/a2euur4b
http://tinyurl.com/yeyre4r4
I look forward to your reply on this at your earliest convenience.
Yours Sincerely
My Name & contact details
Gold mining is an energy-intensive process, potentially creating significant carbon dioxide, but recycled gold has a carbon footprint that is more than 90% smaller than mined gold.
Apple (Nasdaq: AAPL), said it plans to use 100% recycled gold in its circuit boards by 2025.
“Outside of financial services, there is increasing awareness of the importance of recycled gold,” the firm said in the announcement.
“Gold can be infinitely recycled with no degradation in quality,” the firm said. “This allows investors to access gold while reducing the emissions footprint of their portfolios.”
https://www.kitco.com/news/article/2024-02-12/uk-listed-rmau-has-half-its-holdings-recycled-gold
Hi Mr T,
Before I reply to your post, and so that I reply appropriately if needed..
Is this your actual post? Or someone passed it on to you to post here on his behalf?
Also, is the aim of the post to show that Egypt is a corrupt country, which is bad for Centamin?
Or to show that Egypt is not helping the Palestinians, which I think this is not the place for it, but if some here think it's relevant, then I could reply in details from the ground, as I'm in Egypt now and involved directly in the relief efforts to Gaza..
One thing for sure, I liked the British minister's comment about the tonnes of aids sent to Gaza, while I saw before Mr Sunak getting off a military plane in Israel delivering huge offensive military supplies to help Israel..
Thanks,
Siko
Yes Mr Tibbles ,iti sad.
But as Esta Ranzen used to say "Thats life"There is corruption everywhere,even charities ,who take huge commissions from gifts ,they say are expenses.
Egypt is not much different than the West.
Where it is done by benefits or gifts to politiciians or party funds, maybe travel tickets ,holidays ,or inside information.
The brown envelope maybe ,but by agreement.
And to cap it all, tax deductable with a good accountant. ;-)