* Existing home sales data drops for eighth straight month. * Dollar eases after overnight rally. * Platinum, palladium rise 3% By Seher Dareen. Gold prices pared gains on Thursday, having risen about 1% on a softer dollar, as a jump in equities markets and rallying Treasury yields pulled bullion back toward three-week lows hit earlier.
Copper miner Freeport-McMoRan Inc (FCX) on Thursday reported a plunge in third-quarter profit, as recession fears and COVID-19 lockdowns in China hit the red metal's prices. LME copper has given up 30% since touching a record peak in March, largely holding in a range between $7,200 and $8,000 since end-August, pressured by COVID-19 flare-ups in China, the world's biggest metal consumer.
Space technology startups are being forced to limit their sky-high ambitions, as their venture-capital backers turn to safer bets due to the current economic turmoil, VC firm Space Capital said.
* Avanza Bank tops STOXX on strong Q3 beat. * Publicis gains on raising full-year guidance. * Focus on Q3 earnings season. By Amruta Khandekar and Devik Jain. Europe's STOXX 600 rose for the fourth straight session on Tuesday, building on the previous session's rally that was driven by Britain's reversal of its fiscal plan, with investors keeping a watch on earnings to gauge the economic outlook.
* August core orders -5.8% m/m, below f'cast. * Core orders +9.7% yr/yr vs f'cast +12.6% * Manufacturers' sentiment falls m/m in Oct - Reuters Tankan. By Daniel Leussink and Tetsushi Kajimoto.
Gold prices inched lower on Tuesday, pressured by gains in the U.S. dollar on prospects of more steep rate hikes, while caution prevailed ahead of key inflation data due later in the week.
* Gold drops for a fourth consecutive session. * Thursday's U.S. inflation data on investors' radar. * Gold to stay under pressure in the short term - analyst. * Palladium gains over 3% By Bharat Gautam.
Lead prices hit a seven-week high on Thursday as inventories slumped amid worries about smelter shutdowns, while zinc rose after the London Metal Exchange imposed restrictions on metal from a Russian company. Trading was choppy as investors also tried to factor in potential loss of demand from aggressive increases to interest rates to curb inflation.
Chile's gross domestic product is expected to drop 0.5% in 2023 from the previous year, the country's government said on Wednesday, slashing its July forecast of a 0.1% contraction. Inflation in the world's largest copper producer is seen reaching 6.3% next year, up from a previous estimate of 5.4%, while the economy ministry's internal demand projection was kept nearly unchanged at a 4.1% drop.
Copper prices retreated on Wednesday after touching their highest in nearly two weeks due to a resurgent dollar and persistent worries that central bank interest-rate hikes will hit metals demand. Zinc and lead, however, surged on smelter shutdowns amid high power prices.
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