Afternoon Coffee: Precious Metals Continue Rally, Glencore to Sell 2 Mines

afternoon coffee

Prices for gold, silver, platinum and palladium look to be on the rise for a third straight week, after a rally last week erased losses for 2015. Weak economic signals and forecasts for slower global growth have pushed back expectations that the Federal Reserve will raise interest rates this year, renewing investor sentiment for metals markets.

Glencore said it plans to sell copper mines in Australia and Chile as part of the mining company’s broader plan to cut $30 billion of net debt. The move aims to regain the trust of investors; Glencore’s stock price has fallen 56% this year.

Dell will pay about $67 billion in cash and stock to buy data-storage company EMC Corp. The acquisition further cements Dell’s shift from a personal computer company to one focused on more profitable areas, such as security and storage.

Anheuser-Busch InBev again raised its offer in its takeover bid for SABMiller. The new deal would offer £43.50 pounds per share, compared with the £42.15 pounds proposed last week.   

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