Financial markets
Despite a sluggish bond market, the resources sector made significant gains yesterday, driven by strong prices for base metals. All base metals recorded price increases on overseas markets, with aluminium and copper reaching four-year highs. The mining sector was particularly boosted, with the All Mining index closing 1% higher, and
Financial markets
Copper prices shot up 4 cents to $1.186 a pound on the Commodity Exchange in New York, their steepest one-day gain in over four months, driven by recovering economies in Europe and the United States and a possible Australian smelter strike. The rally lifted the Commodity Research Bureau'
Financial markets
Coffee prices jumped by more than 8 percent yesterday, triggering a broad rebound in commodities, as concerns over drought and a potential Brazilian export tax mounted. The Commodity Research Bureau's index of 21 commodities rose by 1.62 points to 229.88, driven by gains in sugar, lumber,
Financial markets
Kaveh Alamouti, a 39-year-old trader at the London branch of Tokai Bank, has shattered all records with an astonishing annual salary of £13.9 million, making him the country's highest earner. This incredible figure, representing a £5 million pay rise, is more than 10 times the amount earned
Financial markets
Toronto-based Cott Corp., a beverage company, has entered into a 50-50 joint venture with British tycoon Richard Branson's Virgin Group PLC to launch a Virgin brand cola. This partnership aims to create a new market competitor, taking on market leaders Coke and Pepsi. The joint venture, called the
Financial markets
Crude oil prices spiked to almost two-month highs as traders anticipated an invasion of Kuwait, but quickly fell back as President Clinton reassured Saddam Hussein that the US remained committed to protecting its interests in the region. The price surge caught analysts off guard, with many citing the knee-jerk reaction
Financial markets
Hog futures prices plunged to their lowest levels in 14 years on the Chicago Mercantile Exchange, as record supplies continue to flood the market. The Commodity Research Bureau's index of 21 commodity prices fell 0.74 point to 230.30, a stark indicator of the market's
Financial markets
Investors' optimism that the US and Japan could reach a trade agreement has boosted prices of Treasury securities, with the 30-year bond price rising to 9614/32 and its yield falling to 7.81 percent. The Commodity Research Bureau index of 21 commodity futures, a leading indicator of inflation,
Financial markets
Traders on both sides of the border were reluctant to take major positions ahead of the Federal Open Market Committee's policy-making meeting, resulting in minimal price changes in bond markets. Canadian bond prices dropped between 2 cents and 30 cents, with the 8-per-cent Canada bond due June 1,
Financial markets
A strong US economy is fueling inflation concerns, causing investors to shift their focus to precious metals. Gold prices hit a 13-month high, with the December contract reaching as high as $399.10 an ounce before settling at $397.20. Silver and platinum also saw gains, with December silver rising
Financial markets
Oil prices rose sharply yesterday as traders shifted their attention to the approaching winter heating season, while global tensions and market developments in key commodity markets further fueled the surge. Diplomatic efforts and market news from various sectors influenced prices, with leaders in the energy trading and analysis industries weighing
Financial markets
The August industrial production report showed a sharp increase, suggesting that the manufacturing sector is operating nearly at full throttle. This surge in production, combined with the Federal Reserve's efforts to keep a lid on economic growth, has raised concerns about inflation and led to a reaction in
