Jueves 20/08/15 Ventas casas existentes, indicadores lide

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VIX up 16.89

-219

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-225

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Thercer dia de caidas despues que el Fed no ocrecio un camino claro respecto al aumento de tasas debido a seniales de la desaceleracion del crecimiento economico.

What’s News

U.S. Stocks Fall on Growth Worries
U.S. stocks fell for a third straight session after the Federal Reserve offered no clear signal on the path of rate increases amid signs of slowing economic growth.
Oil Futures Hover Near Six-Year Lows
Divided Fed Puts Yellen on Hot Seat

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THO US$ 9.86 US$ 0.56 6.02
SCCO US$ 26.90 US$ 0.90 3.46
TELEFBC1 1.48 0.04 2.78
TV US$ 0.490 US$ 0.01 2.08
GRAMONC1 2.73 0.01 0.37
Acciones Ultima cotización (S/.) Var. día (S/.) Var. día (%)
RELAPAC1 0.130 -0.01 -3.70
EFA US$ 62.15 US$ -1.55 -2.43
EXSAI1 1.32 -0.03 -2.22
XLF US$ 24.79 US$ -0.56 -2.21
FEZ US$ 37.00

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Peru +0.22%

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DJIA 17118.80 -229.93 -1.33%
Nasdaq 4927.81 -91.24 -1.82%
S&P 500 2054.30 -25.31 -1.22%
Russell 2000 1187.73 -15.25 -1.27%
Global Dow 2445.27

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http://www.wsj.com/public/page/espanol-inicio.html

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Primer ministro griego convocará a elecciones anticipadas en la tarde del jueves: TV estatal

ATENAS (Reuters) - El primer ministro de Grecia, Alexis Tsipras, posiblemente convocará a elecciones anticipadas durante la tarde del jueves, en un intento de sofocar una rebelión en el seno de su partido izquierdista Syriza después de acordar el nuevo rescate para el país, informó la cadena estatal ERT.

Luego de varios días de rumores sobre las próximas medidas del Gobierno, funcionarios dijeron que una idea concebida previamente sobre una moción de confianza fue descartada y que la opción de llamar a elecciones anticipadas a partir de mediados de septiembre parecía más viable.

Tsipras sostendrá discusiones con sus asesores el jueves por la tarde para decidir su próxima medida, dijo un funcionario del Gobierno.

"Todo es posible", dijo el funcionario a periodistas cuando fue consultado sobre si el primer ministro anunciaría las elecciones esta tarde.

El canal estatal ERT dijo que la fecha de los comicios anticipados sería anunciada más tarde en el día.

Se esperaba ampliamente que Tsipras anuncie elecciones adelantadas en algún momento de este otoño boreal, después de unos complicados siete meses en el poder en los que el país estuvo al borde de tener que abandonar la zona euro y se vio forzado a cerrar sus bancos por tres semanas.

Después de llevar adelante una campaña contra las medidas de austeridad, el mes pasado el líder izquieridista de 41 años aceptó un programa de rescate de 86.000 millones de euros de Europa y el Fondo Monetario Internacional, bajo la condición de aprobar alzas de impuestos y recortes de gastos, en medio del fuerte riesgo de un colapso del sistema bancario griego.

Sin embargo, las votaciones en el Parlamento griego para aprobar las duras medidas de austeridad generaron una rebelión de casi un tercio de los legisladores de Syriza, forzando a Tsipras a buscar apoyo de la oposición y privándole de su mayoría parlamentaria.

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DJIA 17112.99 -235.74 -1.36%
Nasdaq 4921.67 -97.38 -1.94%
S&P 500 2052.35 -27.26 -1.31%
Russell 2000 1186.85 -16.13 -1.34%
Global Dow 2443.97

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Euro (EUR/USD) 1.1196 0.0076
Yen (USD/JPY) 123.50 -0.30
Pound (GBP/USD) 1.5678 -0.0001
Australia $ (AUD/USD) 0.7347 -0.0001
Swiss Franc (USD/CHF) 0.9623 -0.0032
WSJ Dollar Index 88.38 -0.24
GOVERNMENT BONDS1:45 PM EDT 8/20/2015
PRICE CHG YIELD
U.S. 10 Year 12/32 2.085
German 10 Year 11/32 0.586
Japan 10 Year 5/32 0.357
FUTURES1:36 PM EDT 8/20/2015
LAST CHANGE % CHG
Crude Oil 41.26 0.46 1.13%
Brent Crude 47.06 -0.10 -0.21%
Gold 1153.3 25.4 2.25%
Silver 15.555 0.333 2.19%
E-mini DJIA 17078 -207 -1.20%
E-mini S&P 500 2048.25 -24.45 -1.18%

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From Mining to Refining: Low Commodity Prices Force Shift at Industry Giants

By
Tatyana Shumsky And
Timothy Puko

Updated Aug. 20, 2015 10:01 a.m. ET
The world’s largest mining companies have plenty of nickel. Now they are scrounging around for nickels.

The mining site of Vale, the biggest Brazilian mining company, in Para state, Brazil. ENLARGE
The mining site of Vale, the biggest Brazilian mining company, in Para state, Brazil. Photo: yasuyoshi chiba/Agence France-Presse/Getty Images

In a sign of desperation amid plunging commodity prices, mining companies are delving into low-margin businesses—traditionally the domain of the industry’s middlemen—for new sources of revenue.

Rio Tinto PLC for the first time has started to refine other companies’ copper ore. Brazil’s Vale SA, the world’s largest iron-ore producer, has begun mixing minerals to make custom supplies for buyers. U.S. coal miner Murray Energy Corp. in June launched its own trading unit.

The mining companies are seeking to alleviate the financial pressure from tumbling raw-materials prices. With industrial metals and coal at lows last seen during the financial crisis, the share prices of many companies have collapsed by more than half in the past year. A global supply glut and weak demand have spurred the selloff in futures markets and mining stocks.

Anglo American PLC alone posted a $6 billion loss for the year ended June 30, compared with a $100 million profit in the previous period.

“Everybody is trying to find ways to squeeze out whatever they can,” said Rick de los Reyes, who helps manage $1.5 billion invested in metals and mining at T. Rowe Price. “Everybody is fighting to stay alive.”

The scramble for revenue, no matter how small, is an example of how producers are grappling with the commodities bust following an extended boom fueled by China’s rapid growth. It is also a tacit acknowledgment that raw-materials prices are likely to remain low for an extended period, a challenge for companies that borrowed heavily to scoop up mines when prices were high.

So far this year, iron ore has slid 22%, and copper is down 19%. Nickel has tumbled 31%, while coal has fallen at least 10%, depending on the type.

In the first quarter, trucks laden with tons of bluish-gray rocks that contain copper started to rumble across Utah to Rio Tinto’s smelting facility, with a smokestack nearly as tall as the Empire State Building, on the southern shore of the state’s Great Salt Lake. But in a shift from the past, the copper ore is owned by other producers, which are paying Rio Tinto a fee to heat the rocks to 2,400 degrees Fahrenheit to pry the copper loose of silica, iron and sulfur.

ENLARGE

“It is vital that we remain focused on reducing our costs, increasing our productivity and ensuring that we derive the maximum value from our operations,” said Jean Sébastien Jacques, chief executive of Rio Tinto’s copper and coal group.

For years, mining companies left refining, blending and trading of ores to multinational commodity traders such as Glencore PLC and Trafigura Beheer BV. Now, miners are encroaching on trading firms’ turf. Glencore and Trafigura declined to comment.

The strategy is fraught with risks, and the profit potential is scant, some analysts and investors said. These downstream activities are capital-intensive, margins are razor-thin and ill-timed trades could result in steep losses, they said.

“It is probably not the best odds that it will work out real well or they would have been in that business in the first place,” said Michael Ball, portfolio manager with Weatherstone Capital Management, which oversees $675 million. The efforts “speak to the fact that companies believe they’ve got a longer-term issue on their hands.”

Weatherstone closed out its sole mining-sector bet nine months ago and is avoiding new wagers due to signs of slack metal demand in a sluggish global economy.

Lucas Pipes, a metals and mining-sector analyst at investment bank FBR & Co., said it is prudent for mining companies to expand the range of their operations, but the returns on these activities for most won’t be much more than a rounding error. “This is common for the bottom: You’re fighting over pennies,” Mr. Pipes said.

Last fall, Vale opened a $1.4 billion ore-blending terminal in Malaysia, to better cater to Asian buyers. Vale’s customers have been willing to pay extra for that blended ore, as much as $3 a ton on top of the benchmark price, most recently $55.90 a metric ton, company executives have said. Anglo American’s decision to trade its own platinum-group metals, such as palladium and rhodium in addition to platinum, has bolstered profit at Anglo American Platinum by 2%, said Andrew Hinkly, executive head of marketing at the subsidiary.

Anglo American ended its two-decade arrangement to sell these metals through Johnson Matthey PLC, a specialty-chemicals company, in 2012.

“Does it move the needle? No it doesn’t,” said Tim Gramatovich, chief investment officer at Peritus Asset Management, which oversees about $1 billion. It “provides some stability to what they’re doing…but the only thing that brings these guys back is supply and demand.”

Some mining companies said few choices are left. In the U.S., several coal-mining firms have recently filed for bankruptcy protection, and healthier rivals are exploring trading as a way to keep coal competitive with a flood of natural gas.

Murray Energy, based in St. Clairsville, Ohio, launched its own trading unit, Javelin Global Commodities Ltd., to pioneer contracts with flexible pricing and volumes. It is a departure for an old-fashioned company whose chief executive refers to his supply contracts as “marriages.” Last week, Murray also bought its first mines outside the U.S. from Goldman Sachs Group Inc. with an eye to blending Colombian coal with U.S. coal for international buyers.

“The producers can’t just sit on their hands and say they can’t do deals like that,” said Peter Bradley, Javelin’s chief executive and a former commodities trader at Goldman Sachs. “Otherwise, their industry is going to go away.”
http://www.wsj.com/articles/from-mining ... 1440063075

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DJIA 17097.82 -250.91 -1.45%
Nasdaq 4910.48 -108.57 -2.16%
S&P 500 2049.21 -30.40 -1.46%
Russell 2000 1185.28 -17.70 -1.47%
Global Dow 2441.74

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Sube el oro

Crude Oil 41.29 0.49 1.20%
Brent Crude 47.04 -0.12 -0.25%
Gold 1152.4 24.5 2.17%
Silver 15.545 0.323 2.12%
E-mini DJIA 17070 -215 -1.24%
E-mini S&P 500 2046.75

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DJIA 17049.24 -299.49 -1.73%
Nasdaq 4898.57 -120.48 -2.40%
S&P 500 2043.81 -35.80 -1.72%
Russell 2000 1182.05 -20.93 -1.74%
Global Dow 2438.47