Gold Futures Soar to New Heights Amid Anticipation of Federal Reserve Rate Cut

Gold price to surge to $10k under Harris administration - Peter Schiff 

Wall Street sees two-sided risk for gold around Fed rate decision, Main Street investors remain cautiously optimistic

$2600 now becomes support...

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Cryptos, stocks, and metals surge on rising expectations of a 50 bps rate cut

Expect volatility next week but gold prices are going higher - analysts

Gold price holds its ground around $2,600 as University of Michigan Consumer Sentiment rises to 69

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50 bps rate cut rumor sparks gold and stock rally, Bitcoin climbs above $59k

Gold is at an all-time high, resource stocks are jumping, so when does the market start to notice?

Gold trades above $2,580, silver above $30, platinum nears $1,000/oz as metals prices skyrocket

Rick Rule is writing checks - high metal prices, tepid equities is a good time to deploy capital

Gold is the real de-dollarization play – Nassim Taleb

Gold hits another all-time high and mega merger boosts metal's outlook

Canadian miner First Quantum Minerals expects updated drilling results for its Peru copper project La Granja in the second half of next year, and feasibility studies by 2028, project development manager Steven Lewis said on Thursday.“The drilling is progressing well, it’s at 35%, and we expect to have the results in the second half of next year,” Lewis said on the sidelines of a mining industry conference.About the feasibility studies slated for completion by 2028, he said: “We’re working to meet this deadline.”First Quantum last year purchased a 55% stake in the project, which is co-owned with Rio Tinto, and at the time of the acquisition committed to investing up to $546 million for its development.The project overall is estimated to amount to $2.4 billion investment.According to data from Peru’s mining ministry, the site has the potential to produce 500,000 metric tons of copper a year, with a useful life of 40 years.In addition to completing drilling and feasibility studies, First Quantum will also face challenges related to local communities, environmental permits and financing, Lewis said. “La Granja has the potential to be a larger project, but the ultimate focus will depend on several challenges,” Lewis said in a presentation at the mining event.First Quantum took a major blow last year after the Panama government ordered the shutdown of the Cobre Panama mine, which contributed to 40% of the miner’s revenue, due to public protests over environmental issues.(By Marco Aquino and Daina Beth Solomon; Editing by Aida Pelaez-Fernandez)

First Quantum expects feasibility studies for Peru mine by 2028

Ghana is concerned that a slump in global lithium prices could halt its first mining project in the south central town of Ewoyaa, the head of the country’s mining sector regulator told Reuters.In October 2023, Ghana, a West African gold and cocoa producer, granted a 15-year lease to Australia-based miner Atlantic Lithium to establish the nation’s first lithium mine by the fourth quarter of 2024.The company received environmental approval for the project on Thursday, but says a delay in parliamentary ratification of the lease was hampering its ability to meet the construction timeline and secure higher prices.Martin Ayisi, head of Ghana’s Minerals Commission, said the Ewoyaa Project that envisaged annual lithium production of around 360,000 tons risked being halted.“It will cost Atlantic lithium around $650 to produce a ton of lithium concentrate and with the price just above $700, it’s worrying for us,” he said, adding that if the downturn continues, the project may get delayed further like other lithium projects globally.The price of lithium, used in batteries for electric vehicles, has collapsed over the last two years as new supply coincided with weaker-than-expected demand for electric vehicles.As more alternatives to lithium in the EV and battery sectors emerge, Ayisi said time was of essence for the project to pay off.“It’s not just a race against the price; it’s a race to mine at a time lithium is commercially needed.”Ahmed-Salim Adam, Atlantic Lithium’s general manager, told Reuters that the mine’s construction, initially planned to start in July has been delayed to first quarter of 2025 because of lack of parliamentary ratification.The ratification was delayed as lawmakers sought broader consultation, aiming to avoid repeating mistakes made during approvals of new gold mining projects.Adam said the company would also need an operation permit from the sector regulator before it can start construction, which could take about 22 months to complete.“It’s critical that we get ratification quickly else our investors’ patience is waning, especially when there are more endowed jurisdictions in the so-called lithium triangle and Mali next door,” said Adam.(Reporting by Maxwell Akalaare AdombilaAdditional reporting by Christian AkorlieEditing by Bate Felix and Tomasz Janowski)

Ghana anxious lithium price slump will derail maiden project

Prospect of steeper Fed cuts boosts stocks, drives record gold prices

<div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="537806441" paraeid="{68e8b073-a1c6-49db-9101-2fd8bf244e45}{147}">Sept 13 (Reuters) - European stocks rounded off the week on a positive note, supported by technology, real estate and mining shares, while investors shifted their focus to the U.S. Federal Reserve ahead of a long-awaited monetary easing at its meeting next week.&nbsp;</div><div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="1347150573" paraeid="{68e8b073-a1c6-49db-9101-2fd8bf244e45}{156}">The pan-European STOXX 600 index (.STOXX), was up 0.7% at 515.75 points on the day, while notching up gains of more than 1% for the week.&nbsp;</div><div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="1582247851" paraeid="{68e8b073-a1c6-49db-9101-2fd8bf244e45}{165}">German shares (.GDAXI), outperformed European peers with a nearly 1% jump, boosted by a rise in shares of Siemens Energy (.ENR1n.DE), and SAP (SAPG.DE).&nbsp;</div><div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="725097038" paraeid="{68e8b073-a1c6-49db-9101-2fd8bf244e45}{174}">France's CAC 40 (.FCHI), rose 0.4% after consumer prices in the region's second-largest economy rose 2.2% year-on-year in August, in line with its preliminary reading.&nbsp;</div><div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="722887274" paraeid="{68e8b073-a1c6-49db-9101-2fd8bf244e45}{192}">Autos (.SXAP), were the top gainers among sectors, jumping 1.6% to log their best day in over a month.&nbsp;</div><div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="587395794" paraeid="{68e8b073-a1c6-49db-9101-2fd8bf244e45}{201}">Technology (.SXKP), and real estate (.SX86P), gave the market its biggest boost, followed by miners (.SXPP), that advanced 1.3%, as copper prices hit a two-week high on buying ahead of a Chinese holiday and amid stimulus hopes.&nbsp;</div><div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="1521312787" paraeid="{68e8b073-a1c6-49db-9101-2fd8bf244e45}{210}">After the European Central Bank (ECB) lowered its deposit rate to 3.5% on Thursday, policymakers do not see an interest rate cut in October, barring a major deterioration in the outlook for growth, sources told Reuters.&nbsp;</div><div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="1150774511" paraeid="{68e8b073-a1c6-49db-9101-2fd8bf244e45}{228}">Two of the ECB's policymakers -- Francois Villeroy de Galhau and Joachim Nagel -- expressed confidence on Friday about the prospect for lower inflation and interest rates in the euro zone.&nbsp;</div><div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="2019650914" paraeid="{68e8b073-a1c6-49db-9101-2fd8bf244e45}{237}">Investors are now betting on the size and extent of the rate cut by the U.S. central bank next week, with money markets seeing a nearly 40% chance for a 50-bp reduction on Sept. 18.&nbsp;</div><div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="958248999" paraeid="{68e8b073-a1c6-49db-9101-2fd8bf244e45}{246}">"We're still expecting the Fed to cut by 25 basis points. But we're so far from neutral right now that a 50 basis point cut should not be seen as a sign of danger on the horizon. So in that sense, it's entirely possible that they will make a more sizable cut next week," said Gene Salerno, chief investment officer at SG Kleinwort Hambros.&nbsp;</div><div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="1111119267" paraeid="{68e8b073-a1c6-49db-9101-2fd8bf244e45}{255}">Former chief of the New York Fed Bill Dudley said he thought there was a strong case for a 50-bp cut.&nbsp;</div><div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="928316536" paraeid="{b78ace67-0c41-4908-886b-151fa99da474}{9}">Among other movers, heavyweight AstraZeneca (AZN.L), fell after Deutsche Bank cut the stock's rating to "sell" and lowered its price target on Friday.&nbsp;</div><div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="1764526427" paraeid="{b78ace67-0c41-4908-886b-151fa99da474}{18}">Worldline (WLN.PA), shares dropped 14.4% to an record low, after another profit warning and announcement of the departure of its CEO.&nbsp;</div><div class="OutlineElement Ltr SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-text-stroke-width:0px;-webkit-user-drag:none;background-color:rgb(255, 255, 255);clear:both;color:rgb(0, 0, 0);cursor:text;direction:ltr;font-family:&quot;Segoe UI&quot;, &quot;Segoe UI Web&quot;, Arial, Verdana, sans-serif;font-size:12px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;overflow:visible;padding:0px;position:relative;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;user-select:text;white-space:normal;widows:2;word-spacing:0px;"><p class="Paragraph SCXW76263562 BCX0" style="-webkit-tap-highlight-color:transparent;-webkit-user-drag:none;background-color:transparent;color:windowtext;font-kerning:none;font-style:normal;font-weight:normal;margin:16px 0px;overflow-wrap:break-word;padding:0px;text-align:left;text-indent:0px;user-select:text;vertical-align:baseline;white-space:pre-wrap;" xml:lang="EN-US" lang="EN-US" paraid="1416816651" paraeid="{b78ace67-0c41-4908-886b-151fa99da474}{27}">Reporting by Shubham Batra in Bengaluru; Editing by Sherry Jacob-Phillips, Mrigank Dhaniwala and Jane Merriman&nbsp;</div>

European stocks wrap up week on a high note; focus shifts to Fed

TORONTO, Sept 13 (Reuters) - The Canadian dollar edged lower against its U.S. counterpart on Friday as investors raised bets on an oversized interest rate cut from the Federal Reserve, a move which could raise speculation about the Bank of Canada easing in larger steps.The loonie was trading 0.1% lower at 1.3595 per U.S. dollar, or 73.56 U.S. cents, not far off the three-week low it touched on Wednesday at 1.3622. For the week, it was down 0.2%. The U.S. dollar (.DXY), fell against a basket of major currencies after media reports fueled the debate about the Fed beginning its interest-rate-cutting campaign with a half-percentage-point reduction, rather than a quarter-point move."A half-point cut will weigh on the USD broadly but may also stoke expectations that the BoC could up the pace of easing, even if it is unlikely to at this stage," Shaun Osborne, chief currency strategist at Scotiabank, said in a note. The Canadian central bank has cut three times since June, moving in quarter-point increments. Its benchmark rate is at 4.25%.Canadian consumer price index data for August, due on Tuesday, could also guide expectations for the pace of BoC rate cuts. Analysts forecast inflation slowing to an annual rate of 2.1% from 2.5% in July.Friday's domestic data was more upbeat than expected. It showed wholesale trade growing by 0.4% in July from June, compared with forecasts for a 1.1% decline.Canadian bond yields eased across the curve, tracking moves in U.S. Treasuries. The 2-year was down 5.2 basis points at 2.950%, trading at its lowest level since August 2022.Reporting by Fergal Smith; Editing by Leslie Adler

Canadian dollar weakens amid oversized Fed rate cut uncertainty

Britain’s approval of its first new deep coal mine in decades was unlawful, London’s High Court ruled on Friday following a legal challenge brought by environmental campaigners.Friends of the Earth and South Lakeland Action on Climate Change challenged the previous Conservative government’s 2022 approval of a coking coal mine in northwest England.Britain dropped its defense of the legal challenges after a Supreme Court ruling earlier this year said planning authorities must consider the impact of burning, not just extracting, fossil fuels when deciding whether to approve projects.Friday’s ruling is the first case to be decided since the Supreme Court decision, Friends of the Earth senior lawyer Niall Toru said.“That the ruling today has gone against the mining company could have ramifications internationally, as there are cases abroad where challenges are being made against fossil fuel projects on a very similar basis,” Toru added.Developer West Cumbria Mining fought the case and said the project – which planned to extract coking coal for manufacturing steel, rather than to generate electricity – would be “a unique ‘net zero’ mine”.West Cumbria Mining’s lawyer James Strachan said in court filings that the development would not cause a net increase in greenhouse gas emissions, as the use of coking coal extracted from the mine is driven by demand for steel.Judge David Holgate, however, said in a written ruling on Friday that “the assumption that the proposed mine would not produce a net increase in greenhouse gas emissions, or would be a net zero mine, is legally flawed”.A spokesperson for West Cumbria Mining said the company “will consider the implications of the High Court judgment and has no comment to make at this time”.(Reporting by Sam Tobin, Editing by Kylie MacLellan, William Maclean)

Britain’s approval of new coal mine unlawful, court rules

NEW YORK/LONDON, Sept 13 (Reuters) - The U.S. dollar fell on Friday to its lowest level since late December against the Japanese yen after media reports fueled once again the debate about a super-sized interest rate cut of 50 basis points (bps) at next week's policy meeting.Analysts said reports by the Wall Street Journal and Financial Times late on Thursday saying a 50-bp rate reduction is still an option, and comments from a former Fed official arguing for an outsized cut, caused a shift in market expectations. The U.S. rate futures market has priced in a 45% chance of a 50-bp easing by the Fed at the conclusion of the September meeting on Wednesday, up from about 15% early Thursday.Futures traders have also factored in 117 bps of cuts for 2024, up from 107 bps in the previous session."The overall ambiguity surrounding the next Fed cut is really pressuring the U.S. dollar," Boris Kovacevic, global macro strategist, at Convera in Vienna, Austria, said. "Going into the blackout period of the Fed, everyone expected a 25-bp cut, given that the last jobs report just came in one day before that blackout period. So the Fed didn't have enough time to prepare the market for a jumbo rate cut."Referencing the FT and the WSJ articles, Kovacevic noted that it will come down to how the Fed wants to be perceived by markets. "If they want to be perceived as attending to the needs of the labor market, I think they go 50. But if they want to be seen as having the inflation mandate as a priority, they will go 25."In late morning trading, the dollar fell 0.7% to 140.69 yen , after earlier dropping to 140.285, the lowest since late December. On the week, it fell 1%.The euro, meanwhile, rose 0.2% versus the greenback to $1.1091 .The European Central Bank cut interest rates by 25 bps but ECB President Christine Lagarde dampened expectations for another cut next month.Gains in the euro have pushed the dollar index 0.2% lower to 100.97 . The dollar trimmed losses after data showed U.S. consumer sentiment improved in September amid easing inflation.The University of Michigan's preliminary reading on the overall index of consumer sentiment came in at 69.0 this month, compared with a final reading of 67.9 in August. Economists polled by Reuters had forecast a preliminary reading of 68.5.U.S. economic data this week appeared to support the case for a typical 25-bp cut next week, with the measure of consumer price inflation that strips out volatile food and energy prices rising more than expected in August.But former New York Fed President All Dudley added to the 50-bp cut speculation on Friday, saying there was a strong case for a 50-bp cut, arguing rates were currently 150-200 basis points above the so-called neutral rate for the U.S. economy, where policy is neither restrictive nor accommodative. "Why don't you just get started?," he said.The euro "is eyeing $1.11 again after the combined support of a not-dovish-enough European Central Bank and rising dovish bets on the Fed," Francesco Pesole, currency strategist at ING, said.Sterling edged up 0.2% to $1.3147, around its highest in a week. The Bank of England is expected to hold interest rates at 5% next week after kicking off easing with a 25-bp reduction in August.The dollar fell 0.4% against the Swiss franc to 0.8480 francs.Investors were also looking to the Bank of Japan's interest rate decision next Friday, where it is expected to keep rates steady at 0.25%. BOJ board member Naoki Tamura said on Thursday the central bank must raise rates to at least 1% as soon as the second half of the next fiscal year but added that it would likely raise rates slowly and in several stages. Reporting by Gertrude Chavez-Dreyfuss in New York and Harry Robertson in London; Additional reporting by Ankur Banerjee in Singapore; Editing by Sonali Paul, Susan Fenton, William Maclean and Andrew Heavens

US dollar hits 8-1/2-month low vs yen as 50-bp cut back in play

Sept 13 (Reuters) - French payments group Worldline (WLN.PA), opens new tab said on Friday that long-time CEO Gilles Grapinet would leave the company as it issued its third profit warning within a year, sending its shares to a record low.Investors had piled into Worldline and other European payments firms like Italy's Nexi (NEXII.MI), opens new tab during the pandemic, attracted by their rapid growth as customers ditched cash and by hopes for more consolidation in the industry.But Worldline has disappointed investors since with cuts to its financial targets, including one last October that rocked the whole sector when it cited an economic slowdown, and another just six weeks ago when it blamed a sharp decline in domestic consumption trends.Deputy CEO Marc-Henri Desportes will replace Grapinet, who has been CEO for more than 11 years, as of Sept. 30 and for an interim period, the company said. A Worldline spokesperson said the decision was aimed at preparing "a new strategic step for the company"."The CEO change was motivated by the third profit warning within a year with many investors calling for management change," Jefferies analyst Hannes Leitner said, adding that investors expected the new CEO to "ignite organic growth".Worldline shares were down 18.5% at 1225 GMT. They have now lost about 92% from a high in July 2021 when investor enthusiasm for payments firms peaked.This is the Permian Basin, the most productive oil and gas region in the United States.SIX Group, the largest shareholder in Worldline with a 10.5% stake, said it had no plans to sell. A spokesperson told Reuters that Worldline was of "strategic importance" and that SIX backed Desportes as interim CEO.Worldline's plunging share price has previously fanned rumours of a potential hostile takeover bid.Last December activist investor Bluebell urged the company to shake up its board to "restore trust". Reuters reported in January that Worldline had appointed advisors for a defence strategy to ward off any possible takeover.French bank Credit Agricole revealed in January it had bought 7% of Worldline in a bid to bolster the payments company.Bluebell partner Giuseppe Bivona said on Friday it was pleased Worldline had made changes including removing the CEO, but that it wished they had been made earlier to have avoided the latest "operational results and valuation."MORE COST SAVINGSWorldline said it now expected organic revenue growth of about 1% for 2024, against a previous forecast of 2-3%. It sees adjusted earnings before interest, tax and depreciation (EBITDA) around 1.1 billion euros ($1.2 billion), down from 1.13 billion-1.17 billion euros previously.The group, which earns a fee for processing digital payments for clients, postponed its capital markets day planned for Nov. 26 and said it would launch further cost saving measures.Worldline said it saw weaker summer trading and "specific performance issues" in its Pacific business and other markets. It declined to give details when asked by Reuters.Hedge funds likely profited as Worldline shares plunged.Funds and asset managers from Greenvale Capital, Blackrock and Systematica all held short positions in the shares as of Aug. 30, according to data platform Breakout Point. Greenvale Capital had recently reduced the size of its short bet, according to Breakout Point.The funds did not respond to requests for comment. ($1 = 0.9024 euros) Reporting by Alban Kacher Additional reporting by Tommy Reggiori Wilkes and Nell Mackenzie Editing by Sherry Jacob-Phillips, Mark Potter and Susan Fenton

Worldline CEO exits, shares plunge as payments firm issues another profit warning

Sept 13 (Reuters) - Deutsche Bank has raised its year-end target for the benchmark S&amp;P 500 (.SPX), index to 5,750 points from 5,500, citing rising stock buybacks, strong corporate earnings and robust inflows, boosted by strong risk appetite."We see S&amp;P 500 earnings growth continuing to run robustly in the low double digits, in line with typical growth rates outside of recessions," Deutsche Bank strategists said in a note on Sept. 12. The new target represents a 2.75% upside to S&amp;P's close of 5,595.76 on Thursday.Rising U.S. rate cut expectations this year and the hype surrounding artificial intelligence (AI) have boosted the index, with many brokerages lifting their annual targets for the benchmark and some expecting it to end 2024 as high as 6,000.In May, Deutsche Bank raised its year-end target for the S&amp;P to 5,500, banking on strong corporate earnings to support equity valuations. i The brokerage said a recent pullback in stocks in August due to fears of a weakening labor market and de-rating of technology stocks seems "done" for now, with positioning falling back in line with earnings growth.It added that fears of a cooling labor market have been put to rest with August payrolls growth steadying on a year-to-date basis.Some aspects that will strengthen the market include a move from "de- to re-stocking", a pickup in capital expenditure outside tech stocks, broader manufacturing recovery, and a rise in consumer confidence, strategists led by Binky Chadha, chief U.S. equity and global strategist at Deutsche Bank, said.The brokerage expects share buybacks to rise to about $1.2 trillion next year as they keep up with earnings, from the current $1 trillion.Inflows into equities have been strong over the last four months and have defied typical seasonality, "which raises prospective corporate earnings and equity returns," it said.Deutsche Bank also reiterated its earnings per share (EPS) forecast for S&amp;P 500 companies at $258 for 2024 and $285 for 2025.Reporting by Kanchana Chakravarty in Bengaluru; Editing by Savio D'Souza and Sonia Cheema

Deutsche Bank raises S&P 500 year-end target to 5,750 from 5,500

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