Gold Mineweb Daily News -October 17, 2012-: Investor opportunities in gold equities better-than-ever - Embry

$1,750.79 $33.06

TOP STORIES | Wednesday , 17 Oct 2012                                                      Investor opportunities in gold equities better-than-ever - Embry While he has followed the gold market since the 1970s, Sprott Asset Management's John Embry says the opportunities offered by gold equities are better than he has ever seen.    Wednesday , 17 Oct 2012 Gold takes cue from Euro as Moody's affirms Spain rating The gold price edged up on Wednesday to $1,750.14 per ounce after Moody's rating agency affirmed Spain's investment grade status.    Wednesday , 17 Oct 2012 Minera IRL gets EIA approval for Don Nicolas gold/silver project A rapid approval by Santa Cruz province of Minera IRL's Don Nicolas gold/silver project Environmental Impact Assessment paves the way for new mine development.    Wednesday , 17 Oct 2012 Gold price dips should be a cause for buying, not concern - Levenstein David Levenstein says, as an investor, he doesn't pay much attention to the gold price dips and thinks they should be used to accumulate more of the physical metal.    Wednesday , 17 Oct 2012 Newmont to take $77m in charges for 3Q Newmont Mining's outlook this year has already suffered from lower production, the delay of the Minas Congas project, and global layoffs at the company's operations and offices.    Wednesday , 17 Oct 2012 6,200 miners return to Gold Fields' Beatrix mine South African bullion producer Gold Fields reports 6,200 employees at its Beatrix shafts 1, 2 and 3 have returned to work, but says workers at its the fourth shaft remain on strike.    Wednesday , 17 Oct 2012 Randgold CEO warns African govts. against punitive taxes Speaking in Kinshasa, Mark Bristow said that a raft of proposals by African countries to capitalise on historically high metals prices by imposing new tax regimes could backfire.    Wednesday , 17 Oct 2012

COMPANY RELEASES                                                      Minera IRL Announces Approval of EIA and Granting of Development Permit for Don Nicolas Further Drill Results Confirm Conjecture High Grade Silver PanTerra Gold Limited Strengthens Board and Management Marengo Reports Further High Grade Copper-Molybdenum-Gold Results at Yandera Southern Hemisphere Announces USD$35M Llahuin JV And USD$5M Placement Red Mountain Releases September Quarterly 2012 Report Brigus Gold's Q3 Earnings Release and Conference Call Calico Resources Reports 1.6 Million Ounce M + I Gold Resource at Grassy Mountain African Countries May Harm Own Economies by Seeking Short-term Gains from Mining Industry Final Ultimatum for Unlawful Strikers at Gold Fields to Return to Work or Face Dismissal Sacre-Coeur Announces 12 Week Elluvial/Alluvial Gold Production Figures to Sep 30, 2012 Maya Gold & Silver Welcomes Eric Swenden to its Advisory Board Winston to Spin Off Hadley Mining and Zara Resources Colombia Crest Gold Engages Torrey Hills For Investor Relations Services Seabridge's Walsh Lake Discovery Delivers More High-Grade Gold Intercepts B2Gold Corp. Reports Record Second Quarter 2012 Gold Production Excellon Resumes Production at La Platosa Veris Gold Corp. Jerritt Canyon Operation Achieves Target Production

The New York Times Today's Headlines -October 14, 2012-: Libya Struggles to Curb Militias, the Only Police

October 14, 2012 Today's Headlines   TOP NEWS Libya Struggles to Curb Militias, the Only Police By DAVID D. KIRKPATRICK The weak Libyan government faces the task of trying to rein in powerful militias while depending on them as the only armed forces, a conundrum that has trapped the country in a state of lawlessness. Campaigns Mine Personal Lives to Get Out Vote By CHARLES DUHIGG The Obama and Romney campaigns are using the personal information of voters to, in effect, train people to go to the polls through subtle cues, rewards and threats. At the Corner of Hope and Worry By DAN BARRY A small cafe, in the small city of Elyria, Ohio, is being tested by a tough economy. It is the kind of place where Barack Obama and Mitt Romney each hope that his promise of a restored American dream will resonate. • NYTimes.com Home Page » QUOTATION OF THE DAY ""I'm just going in circles and circles and circles, and not getting anyplace." DONNA DOVE, who owns a struggling diner in Elyria, Ohio.

Magazine Slide Show: How to Stuff Your Face Like a President A photo gallery of presidents, candidates and food. Magazine: The Food and Drink Issue Opinion Slide Show: The Strip | By Brian McFadden Cartoons about current affairs.

POLITICS As Massachusetts Governor, Romney Was Often Away By DANNY HAKIM Particularly in the last two years of his term, Mitt Romney was often missing from Massachusetts on personal trips or political ones unrelated to his job. G.O.P. Ticket Focuses on Crucial Ohio Votes By TRIP GABRIEL and THOMAS KAPLAN The Republican ticket has all but taken up residence in vital Ohio: Mitt Romney spent four days in the state this week and Representative Paul D. Ryan two, with plans to return Monday. The Caucus: Springsteen Hits the Road for Obama FiveThirtyEight G.O.P. Senate Hopes Fade, Even as Romney's Rise, Polls Show By NATE SILVER The FiveThirtyEight forecast model now gives Republicans just about a 16 percent chance of winning control of the Senate. This is a precipitous drop from just two months ago. • More Political News » BUSINESS Romney's Go-To Economist By DAVID SEGAL R. Glenn Hubbard, dean of the Columbia Business School, has helped to draft many of Mitt Romney's economic and tax policies - and is often a cheerleader for them. China Exports Rise, Hinting at a Glimmer of a Revival By KEITH BRADSHER Strengthened exports to the United States may increase trade frictions as White House and Chinese Politburo contenders engage in political grandstanding. I.M.F. Urges Leaders to Act Decisively on Debt By MARTIN FACKLER At the end of a three-day meeting in Tokyo, the members of the International Monetary Fund warned that debt crises in developed countries were dragging down growth in emerging markets. • More Business News » EDITORIALS Editorial Time to Pack Up It should not take two more years for the United States to leave Afghanistan. Interactive Timeline: Leaving Afghanistan Sunday Observer Two More Saints From a State of Grace By LAWRENCE DOWNES When the seven Catholic saints are canonized next Sunday, the American tally will be 12 - and New York will be on its way to an All-Saints baseball team. • More Opinion » SUNDAY REVIEW Capital Ideas Rethinking Affirmative Action By DAVID LEONHARDT Supporters of affirmative action still have a legal path open to them: giving preference based on socioeconomic status. ON THIS DAY On Oct. 14, 1964, civil rights leader Martin Luther King Jr. was named winner of the Nobel Peace Prize. • See This Front Page • Buy This Front Page

Wall Street at Close report | MarketWatch -October 11, 2012-: Stocks near flat; S&P barely up first day in five .

By Kate Gibson

NEW YORK (MarketWatch) - U.S. stock indexes closed largely unchanged on Thursday as cheer about a decline in jobless claims dissipated. "I don't get too worked up over the weekly data, the trend is much more important, and I think we are seeing incremental improvement," said Tim Leach, chief investment
officer at U.S. Bank Wealth Management. Uncertainty ahead of the U.S. presidential election less than a month away is a likely contributor to Wall Street's stall. Once "the results are in, then everybody can make plans accordingly.That clarity of at least that portion of the road ahead will be reacted to positively,"
regardless who wins, Leach said. Down for a fourth day, the Dow Jones Industrial Average DJIA -0.14% fell 18.51 points, or 0.1%, to 13,326.46. The S&P 500 index SPX +0.02% gained a fraction to end at 1,432.86. The Nasdaq Composite COMP -0.08% fell 2.40 points, or 0.1%, to 3,049.38.

US Futures Indications | MarketWatch -October 9, 2012-.: Stock futures weighed by growth, earnings jitters

By Barbara Kollmeyer, MarketWatch 

MADRID (MarketWatch) — U.S. stock-market futures drifted lower on Tuesday, as investors grew jittery ahead of the unofficial kickoff of third-quarter-earnings season later with Alcoa Inc. and with sentiment dented by downbeat global-growth prospects from the International Monetary Fund. 

Futures for the Dow Jones Industrial Average DJZ2 -0.04%  fell 6 points to 13,495, while those for the Standard & Poor’s 500 index SPZ2 +0.0069%  fell 0.5 point to 1,449.30.

Futures for the Nasdaq 100 index NDZ2 -0.29%  fell 7.25 points, or 0.3%, to 2,770.25. 

Markets eye Europe, earnings Shares fell, weighed by technology stocks, as investors fretted over a sluggish earnings outlook, debt-laden Europe and China's slowing economy. Steven Russolillo reports on the News Hub. (Photo: Bloomberg) 

Geopolitical factors were also weighing, said Peter Cardillo, chief market economist with Rockwell Global Capital.

“Concerns over global growth and escalating tensions between Turkey and Syria ahead of Alcoa’s earrings are likely to guide the market in a non-event trading session,” Cardillo said in emailed comments.

Crude oil was higher after Turkey reportedly hit Syrian army positions on Monday.

No major economic reports are expected Tuesday, with focus mostly centered on Alcoa earnings, due after the closing bell.

Cardillo said he expects most sectors to meet or beat earnings expectations on reduced estimates, and more companies to produce murky guidance for fourth-quarter earnings

Alcoa is expected to report that it broke even on a per-share basis with sales of $5.57 billion, according to analysts polled by FactSet Research. Read: What Alcoa's earnings mean for the stock market

Yum Brands Inc. YUM +1.42% will also report after the closing bell. The parent of fast-food chains including Pizza Hut and KFC is expected to report profit of 97 cents a share on sales of $3.66 billion, according to FactSet.

Wall Street stocks posted losses on Monday as investors braced for the start of the reporting season. The Dow Jones Industrial Average DJIA -0.19%  fell 26.5 points, or 0.2%, to 13,583.65, halting a three-session winning run.

The S&P 500 index SPX -0.35%  fell 5.05 points, or 0.4%, to 1,455.88.

IMF

More worry on the global-growth front came from the IMF, which released its World Economic Report in Tokyo on Tuesday. Citing lower growth prospects and increased risks of another recession, the IMF cut its estimate of 2012 growth to 3.3% from 3.5% and 2013 growth to 3.6% from 3.9%. Read: IMF cuts 2012, 2013 global growth forecasts 

 

“The headlines from that report were widely known,” said Victoria Clarke, economist with Investec. “I’d be surprised if anyone had expected anything else. Still, it’s unhelpful because it’s reminded markets that the pickup in the global economy isn’t imminent.” 

The IMF warned that a failure to get hold of Europe’s debt crisis or tackle the impending “fiscal cliff” in the U.S. will worsen growth prospects. It also said France, Spain and other euro-zone governments will miss budget deficit targets. Read: IMF: Key euro-zone nations to miss deficit targets 

 

IMF gloom weighed on Europe stocks, as investors there also eyeballed a European Union finance-ministers meeting in Luxembourg for more news on the situations of Spain and Greece. The Stoxx Europe 600 index XX:SXXP -0.03% fell 0.3%, with Spanish stocks leading the losses, down 1%.

Annalisa Piazza, strategist at Newedge, said she didn’t expect Spain would present a formal bailout request Tuesday, something that markets have been anticipating, given the continuation of the “wait-and-see mode.”

“That said, the country will have to finance around €20 billion in bond redemptions at the end of October, and its cash position is not in very good shape,” said Piazza in emailed comments. 

In Asia, stocks rose on strengthened hopes for policy support from China after a large liquidity injection by the People’s Bank of China aimed at easing tight monetary conditions. Read Shanghai, Hong Kong stocks jump to lead Asia 

 

In other markets, gold for December delivery GCZ2 +0.08%  fell $1.40 to $1,774.40 an ounce and oil for November delivery CLX2 +0.88%  rose 29 cents to $89.63 a barrel.

The ICE dollar index DXY +0.07%  , which measures the dollar against a basket of six currencies, traded at 79.760 versus 79.595 in late North American trading the prior session. 

Barbara Kollmeyer is an editor for MarketWatch in Madrid.

Wall Street at Close Report | MarketWatch -October 8, 2012-: Stocks fall with third-quarter expectations

By Kate Gibson, MarketWatch 

NEW YORK (MarketWatch) — U.S. stocks on Monday retreated from near five-year highs as investors braced for what’s expected to be a weak earnings season.

 

“We’ve probably managed to set the bar low enough that we can get over the top of it,” Bill Stone, chief investment strategist at PNC Asset Management Group, said of lowered estimates for coming results, which could have American corporations breaking an 11-quarter streak of year-over-year gains in earnings. 

Halting a three-session win streak, the Dow Jones Industrial Average DJIA -0.19%  fell 26.50 points, or 0.2%, to 13,583.65. 

Are Alcoa’s results a barometer? Historically, Alcoa has acted as a barometer for how the rest of the market has performed during past earnings seasons. 

Dow component and aluminum producer Alcoa Inc. AA +0.33%  is slated to release quarterly results after the close of regular U.S. trading Tuesday. See: Brace for worst earnings since recession rebound.

Personal-computer maker Hewlett-Packard Co. HPQ -1.83%   has already warned its 2012 profit will come in below analysts’ estimates, and shipper FedEx Corp. FDX -0.12%  has trimmed its yearly earnings outlook as well. 

But Mark Luschini, chief investment strategist at Janney Montgomery Scott, also played down any notion that third-quarter results would include any shocks major enough to send Wall Street into a tailspin.

A correction of 3% to 5% is due in any event in light of Wall Street’s climb that has pushed the S&P 500 Index SPX -0.35%  nearly higher 16% this year, Luschini noted. 

“Expectations have been sufficiently lowered, so it probably leads to a low hurdle for companies to exceed dumbed-down expectations,” he said. 

Falling for a second session, the S&P 500 index SPX -0.35%   declined 5.05 points, or 0.4%, to 1,455.88, with technology and telecommunications hit the hardest among its 10 sectors.

Also extending its slide into a second session, the Nasdaq Composite COMP -0.76% lost 24.58 points, or 0.8%, to 3,111.61. 

Apple Inc. AAPL -0.20%  shares fell 2.2% after a China Labor Watch report that a Foxconn factory in China had been crippled by a strike. The Taiwanese company and Apple contractor denied the report by the labor-watchdog group. See: Apple shares lose their iPhone 5 bounce 

 

Facebook Inc. FB -2.44%   slipped 2.4% after BTIG LLC downgraded the social network.

Netflix Inc. NFLX +10.46%   gained more than 10% after Morgan Stanley upgraded the video-subscription service.

For every two stocks rising three fell on the New York Stock Exchange, where a measly 464 million shares traded in light Columbus Day volume. Composite volume just topped 2.3 billion.

With relatively sparse personnel in today, that’s another reason to follow on the heels of Europe,” Stone said of the federal holiday that had the both the government and bond market closed.

In Luxembourg, euro-area ministers gathered as investors looked for any signals that Spain would ask for rescue funds. Read related story on the stance taken by Germany’s finance minister toward a Spanish bailout. 

 

Asia’s slowing economic growth and Europe’s unresolved fiscal issues reinforced market thoughts of reduced demand for oil, with the November crude futures CLX2 -0.21%  finishing below $90 a barrel on the New York Mercantile Exchange. See: Oil falls on thoughts of less global demand.

The World Bank on Monday reduced its forecast for the East Asia and Pacific region, while cautioning the slowdown in China could get worse. See: Europe crisis poses major Asia threat. 

 

Kate Gibson is a reporter for MarketWatch, based in New York.

New York Times Politics -October 4, 2012-: In Fallout After Debate, Obama Asks, Which Mitt Was That?

Politics

In Fallout After Debate, Obama Asks, Which Mitt Was That?

By MARK LANDLER and PETER BAKER

The Obama campaign came out swinging, including stronger rhetoric, a new television ad and a conference call questioning Mr. Romney's truthfulness.

Debate Praise for Romney as Obama Is Faulted as Flat

By MICHAEL D. SHEAR

Republicans, along with many Democrats, accused President Obama of delivering an uninspired and defensive performance at the first presidential debate on Wednesday night.

•  Full Video and Transcript | Fact Checks | Complete Coverage »
• Check Point: Taking Stock of Claims and Counterclaims in the Debate

More Politics

After Debate, a Harsh Light Falls on a Moderator

By BRIAN STELTER

Democrats in particular were critical of the light touch used by the moderator Jim Lehrer.

Obama and Romney, in First Debate, Spar Over Fixing the Economy

By JEFF ZELENY and JIM RUTENBERG

Mitt Romney aggressively pressed President Obama on the economy, jobs and health care in a debate that avoided the one-liners that sometimes emerge from presidential face-offs.

•  Full Video and Transcript | Fact Checks | Complete Coverage »
• Check Point: Taking Stock of Claims and Counterclaims in the Debate

News Analysis

A Clash of Philosophies

By PETER BAKER

In the first presidential debate, President Obama argued that government plays an essential part in economic growth, while Mitt Romney contended it should get out of the way.

• In a Faceoff Without Firewords, the Choirboy and the Headmaster
• At Debate-Watching Party in Ohio, Voters Are Less Than Thrilled
• Resurfaced Talk by Obama Renews Questions on Race

A G.O.P. Operative Long Trailed by Voter Fraud Claims

By STEPHANIE SAUL

A Florida voter registration scandal involving Nathan Sproul, a highly paid Republican operative, is just the latest case in which questions have been raised about his methods.

Check Point

Taking Stock of Some of the Claims and Counterclaims

By MICHAEL COOPER, JACKIE CALMES, ANNIE LOWREY, ROBERT PEAR and JOHN M. BRODER

A number of misleading statements were made by both candidates in Wednesday's debate on subjects like the federal deficits, taxes, Medicare and health care.

• More Fact-Checks: Medicare Cost | Oil Subsidies
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Ann Romney Takes Bigger Role on Behalf of the Man She Knows

By MICHAEL BARBARO, ASHLEY PARKER and SHERYL GAY STOLBERG

When Mitt Romney's campaign has struggled, the candidate's wife has been a relentlessly upbeat figure inside the Boston headquarters and on the trail.

In Iowa and Beyond, Tough Tests for Tea Party Favorites

By JENNIFER STEINHAUER

Representative Steve King's troubles show the liability of a national profile built largely on Tea Party credentials and incendiary statements.

The Caucus

Election Exit Polls Are Eliminated in 19 States

By MARJORIE CONNELLY

The consortium of television networks and The Associated Press cite the growing costs associated with taking into account the growing popularity of early voting, among other things.

On the Debate Stage, Romney the Moderate

By JACKIE CALMES

Many conservatives, who have long viewed Mitt Romney's ideological commitment with some skepticism, might have been less than thrilled with his tone.

After the Debate, Campaigns Quickly Release New Ads

By MICHAEL D. SHEAR

President Obama and Mitt Romney hope to build on, or move past, their debate performances.

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The TV Watch

The Choirboy and the Headmaster, and a Faceoff Without Fireworks

By ALESSANDRA STANLEY

The first presidential debate was a glaringly public confrontation between President Obama and Mitt Romney that looked oddly intimate and personal.

Political Times

Obama's Enthusiasm Gap

By MATT BAI

Examining the hypothesis that Mr. Obama simply doesn't love being president.

FiveThirtyEight

Oct. 3: Romney's Electoral Challenge, and More on Debate Instant Polls

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Instant-reaction polling after the Obama-Romney debate, and what to expect from the head-to-head polls.

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Follow along with this interactive replay of the debate, using fact checks and graphics take a closer look at the candidates' assertions and attacks.

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