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Amazon and Walmart are vying for full access to India's e-commerce market amid US pressure. Tesla announces financial updates and settles a lawsuit, while Elevance Health exceeds quarterly profit expectations. In Europe, Roche plans a $50 billion investment in the U.S., and UniCredit's takeover bid for Banco BPM faces uncertainty. Meanwhile, Toyota and Daimler are close to merging their truck units, and Huawei is set to ship its AI chip, potentially impacting Nvidia's market share in China.
Gold prices are projected to reach $4,000 an ounce by mid-2026, driven by strong central bank demand and geopolitical tensions. Recent developments include a surge in gold trading in China amid trade war fears, while challenges arise from government actions in Ghana and Mali affecting mining operations. Analysts remain bullish on gold and related stocks, anticipating significant free cash flow growth for senior producers.
Gold miners have seen a strong rally in 2025, with the GDX Index outperforming gold by about 20% in total shareholder return. UBS highlights operational leverage and potential growth but warns of challenges like cost inflation and reserve depletion. While near-term momentum is positive, skepticism remains about long-term returns compared to gold itself.
UBS has downgraded Agnico Eagle Mines from 'Buy' to 'Neutral', raising its price target to $110 amid high valuation concerns and wider market conditions. While earnings estimates for 2025 and 2026 have been increased, the stock's growth potential appears limited, prompting interest in alternatives like Barrick Gold and Franco-Nevada. The upward revision of gold prices suggests potential benefits for Agnico, but investors may seek more dynamic opportunities in the sector.
UBS has downgraded Agnico-Eagle Mines Ltd from Buy to Neutral while raising its price target from $100 to $110. Despite a strong performance, with a 120% return over two years, the firm notes limited upside potential without further increases in gold prices or a re-rating of the company's valuation. Agnico-Eagle has also completed the acquisition of O3 Mining Inc. and increased its stakes in Collective Mining Ltd. and Cartier Resources Inc., aligning with its strategy to expand in the mining sector.
The recent U.S. tariffs on Canada, Mexico, and China have created significant market volatility, with automakers like General Motors and Ford facing losses due to increased costs on vehicles produced in Mexico. Conversely, stocks linked to precious metals, such as Newmont Corporation and Barrick Gold, may benefit amid rising gold prices. The tech sector, including giants like Apple and Nvidia, is also bracing for potential impacts from tariffs on Chinese imports.
IG Securities, the Japanese arm of IG Group, will extend trading hours for 30 US stock CFDs starting January 20, 2025. These instruments will be available from 6:00 PM Japan time to 10:00 AM the next day, with specific hours on Fridays. Traders should verify trading hours and ensure their accounts maintain sufficient margin to avoid liquidation.
Walgreens Boots is in talks for a sale to Sycamore Partners, while Domino’s bids for Wingston’s UK franchise. In a significant move, a federal judge blocked Kroger's $24.6bn merger with Albertsons, favoring antitrust regulators. Meanwhile, Evergrande's liquidation efforts face challenges as its assets are primarily in mainland China, complicating recovery for investors.
Mali's government continues to assert its claims against foreign mining companies, recently detaining employees of Barrick Gold Corp. amid disputes over back taxes. The country is demanding $500 million from Barrick, while Resolute Mining Ltd. has already paid $130 million of a $160 million settlement related to tax assessments.
Mali has issued an arrest warrant for Mark Bristow, the CEO of Barrick Gold, as confirmed by two sources. The warrant is detailed in a document reviewed by Reuters, indicating escalating tensions between the country and the mining executive.
Barrick Gold Corp
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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