Agnico-Eagle increases credit lines to over US$900 million

Agnico-Eagle Mines Limited, a long established Canadian gold producer with operations located in Quebec and Finland and exploration and development activities in Canada, Finland, Mexico and the United States, announced that it has executed a new non-amortizing US$600 million revolving credit facility, maturing June 2012. The new facility replaces a pre-existing US$300 million tranche of the Company’s... 

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Agnico-Eagle doubles credit lines to US$600 million

Agnico-Eagle Mines Limited announced that it has executed a new non-amortizing US$300 million revolving credit facility, maturing September 2010. Including its pre-existing credit facility, the Company now has US$600 million of credit lines. The pre-existing facility is also a non-amortizing US$300 million revolving credit line, maturing January 2013. Both credit facilities are unsecured. The new facility... 

Oil prices lower in Asian trade

World oil prices were slightly lower in Asian trade on Monday after fresh unrest in Africa’s biggest crude producer, Nigeria. New York’s main oil futures contract, light sweet crude for June delivery, was 13 cents lower at 116.19 dollars per barrel. The benchmark contract rallied 3.80 dollars to close at 116.32 dollars on Friday at the New York Mercantile Exchange. Brent North Sea crude... 

Resources gains lead market higher

The Australian share market has surged by 1 per cent after energy stocks were boosted by higher oil prices. The All Ordinaries Index added 55 points to 5,465 and the ASX 200 picked up 58 points to 5,400. Resource company Woodside Petroleum closed 2.7 per cent higher on rising oil prices. Supply concerns sent the price of oil above $US112 a barrel. Shortly before 5:45pm AEST, a barrel of West Texas... 

Australian Stocks Rise, Led By Oil, Mining And Bank Stocks

On Thursday morning, the stocks in Australian market opened strongly, led by oil stocks such as Woodside Petroleum and Santos, and mining stocks such as BHP Billiton, following a drop in price of crude oil futures in the International markets. Strength in the resource stocks, assisted by banking and retail stocks, is driving the local market, despite lower closing in the overnight US markets, which... 

Oil falls near $52 ahead of U.S .inventory data

Oil edged lower near $52 a barrel on Thursday ahead of U.S. weekly inventory data expected to show a slight increase in domestic crude and distillate stocks. U.S. crude futures eased 33 cents to $51.91 by 1152 GMT, retracing gains of more than a dollar the previous session. Prices on Wednesday briefly touched a 20-month low of $50.28 before rebounding. London Brent fell 20 cents to $52.58 a barrel.  Read More →

Australia’s Trade Gap Narrows on Beef, Coal Exports

Australia’s trade deficit narrowed in November on increased beef and coal shipments, signaling exports may drive growth in the Asia-Pacific region’s fifth- largest economy. The trade shortfall narrowed to A$843 million ($657 million) from A$1.51 billion in October, the Bureau of Statistics said in Sydney today. The median estimate in a Bloomberg News survey of 19 economists was A$775 million.... 

Australian Market Slips On Lower Oil, Gold And Base Metal Prices

Sydney shares closed in the negative territory on lower oil, gold and base metal prices. Mining stocks declined. The benchmark S&P/ASX 200 index slipped 12.8 points or 0.2% to 5,572.0. Out of the 201 stocks traded, 115 stocks declined, 68 advanced and 18 closed flat. Turnover was A$4.03 billion on a volume of 466.65 million shares. The broader All Ordinaries index ended at 5,549.8 after shedding... 

Australian Market Rises As Mining, Energy Stocks Gain; Indices Close At New High

Sydney shares closed higher with the S&P/ASX 200 index touching a high of 5,575.4, up 2.3 points or 0.04% beating Thursday’s record of 5,573.1. The market rose following the gains on the Wall Street. Energy companies and big miners led the gains. Gains were limited as investors awaited the U.S. inflation data and other economic data next week in Australia. The broader All Ordinaries index... 

Mining Stocks, End of Quarter Buying by Local Fund Managers Push Australian Market Higher

Mining stocks helped push the Australian stock market higher Friday along with end of quarter buying by local fund managers. The benchmark S&P/ASX200 index rose 40.2 points to 5,154.1, and the All Ordinaries index added 37.5 points to 5,113. Anglo Australian mining giant BHP Billiton jumped 1 percent, or 25 cents, to A$25.63, rival Rio Tinto climbed 65 cents at A$70.10 and Zinifex gained 30 cents...