Australia

Early trading Tuesday saw European stocks fall as traders remained cautious ahead of important U.S. employment data. The dollar also remained near its lowest level in the past two months. Investors waited for the U.S. Employment Reports for October and November due later in session. Data collection was delayed during the U.S. Government Shutdown. After the Fed's comments when it reduced rates last week were interpreted as being less hawkish that anticipated, this could affect expectations for the U.S. Federal Reserve monetary policy in the coming year. This would strengthen expectations for further rate cuts by 2026. The stock markets...

Asian stocks fell on Tuesday while the dollar drifted to two-month lows. Investors adopted a cautious stance ahead of the release of several U.S. economic data including the jobs report that could 'help gauge the direction of Federal Reserve policy for next year. Risk assets were under pressure due to the defensive mood, including bitcoin. Bitcoin, which?hit an all-time low of two weeks in the previous session, was down by 0.3%, at $86,017.67. Nasdaq Futures dropped 0.8%, and European Futures declined 0.5%. Hang Seng's technology index fell 2.7%. The MSCI broadest Asia-Pacific share index outside Japan fell by 1.45%, its...

Investors reined-in risk-taking as they began a week that would be peppered with important central bank decisions and data release. MSCI's broadest Asia-Pacific index outside Japan fell 1%. This was largely due to a fall of up to 2.7% on South Korean shares. South Korea is one of the best-performing markets in the world this year. Chris Weston said, "We are now in the last week of trading before many close their books for 2025 and call it an end of year," said Chris Weston. He is head of research at Pepperstone Group based in Melbourne. "Some may have already...

European stocks were up on Friday. They are on track to make a third consecutive weekly gain, as the Fed's recent interest rate cut boosted sentiment. However, Wall Street futures indicated some lingering caution following the previous session's sell-off in tech-stocks. Investors were wary of artificial intelligence bets after Oracle, a cloud computing company, announced massive spending and poor forecasts. Broadcom's warning on margins added to investors' concerns. The move on Thursday had a limited effect on the wider risk appetite, as both S&P 500 & Dow hit new highs. On Friday, Wall Street futures fell during Asian trading while...

Asian stocks rose in the early hours of Friday's trade, following overnight gains on Wall Street. However, a new decline in Oracle shares sent jitters throughout the tech sector. The financial markets had to?move fast this week in order to regain their footing when the Federal Reserve cut interest rates Investors were stressed by the fact that the hawkish view was less than expected. The Dow, Russell 2000 and Nasdaq all reached new highs on Thursday. Softbank Group shares surged 6% in the morning after Bloomberg News reported that it was considering acquiring a U.S. company called Switch Inc. S&P...

The dollar suffered losses following the Federal Reserve's interest rate cut. Bonds were also firm. Oracle shares fell more than 11% in Asia trading. S&P futures were down 0.9% and Nasdaq futures 1.3%. AI-related stocks suffered the most in Tokyo as Oracle missed its profit and revenue forecasts, and executives cited higher spending as a sign infrastructure investments aren't turning into profits at the rate investors had expected. Japan's Nikkei Index fell by 1%, with the AI-exposed SoftBank Group contributing 7.5% to the decline. The Hang Seng index in Hong Kong rose only 0.06%. MSCI's broadest Asia-Pacific share index outside...

Stocks fell on Monday, after a strong November. A bout of risk-aversion gripped the markets as optimism about U.S. interest rate cuts remained unchanged. The yen strengthened as investors considered the possibility of a rate increase as early as this month. Investors were looking for clues about the timing of the next rate hike as Bank of Japan governor Kazuo Ueda spoke in Nagoya. Ueda told business leaders in an address that the central banks would weigh the "pros" and "cons" of raising interest rates at their next policy meeting. This was the strongest indication yet as to whether or...

Asian shares will end a difficult November on a more stable footing as renewed hopes of a U.S. interest rate cut have helped calm valuation fears and Treasuries are rallying for the fourth consecutive month. The U.S. market, which was closed for Thanksgiving overnight, is due to have a shorter session on Friday. This means that activity will be more muted across all major asset classes than usual. The majority of European stocks were higher while currencies were more calm. In Asia, European stock futures rose by 0.1% while FTSE Futures rose by 0.2%. Wall Street futures, however, were affected...

Asian shares will end a difficult November on a more stable footing as renewed hopes of a U.S. interest rate cut have helped calm valuation fears and Treasuries are rallying for the fourth consecutive month. The U.S. market, which was closed for Thanksgiving overnight, is due to have a shorter session on Friday. This means that activity will be more muted across all major asset classes than usual. The majority of European stocks were higher while currencies were more calm. MSCI's broadest Asia-Pacific share index outside Japan was flat Friday. It is now on track to gain 3% in the...

The growing bets on a rate cut in the U.S. lifted stocks for a 4th straight day, and Europe's stock markets experienced an incredible few hours when Britain's fiscal regulator accidentally published new forecasts that were crucial ahead of a brutal UK budget. The UK budget was released by Finance Minister Rachel Reeves and contained yet another round of tax increases. Early release The Office for Budget Responsibility’s Economic and Fiscal Outlook has already triggered a response. The sterling and gilt yields both rose as OBR figures showed a better than expected picture of the UK's fiscal room, but then...

Investors piled into technology stocks on Tuesday, despite concerns that the sector was overheating. Alphabet, the parent company of Google, is on the verge of reaching a valuation of $4 trillion, making it the only fourth company in the world to do so. This shows that investors are confident the AI-fueled tech boom will continue. MSCI's All-World Index rose for the third consecutive day, lifting it off its two-month-lows from last week. Shares in Europe increased by 0.2%, and U.S. index futures were nearing positive territory. Bets on RISING RATE Cuts The yield on 10-year Treasury bills was unchanged at...

Asian shares rallied Tuesday, as investors bet on a Federal Reserve rate cut in December. They also piled into technology stocks around the world, despite concerns that the sector is becoming overheated. MSCI's broadest Asia-Pacific share index outside Japan gained 1%, led by tech stocks. This is a partial recovery of last week's 4% drop. The index is expected to drop 3.8% in the month. This will be its first monthly decrease since March. Japan's Nikkei rose 0.8% at the start of trading on Tuesday, after returning to work on Monday from a long holiday. Last week, the index fell...

Guinea and EGA talk to avoid legal battles over assets seized EGA loses GAC license due to row over alumina refinery Nimba Mining to increase bauxite production By Maxwell ?Akalaare Adombila DAKAR, 16 December - Guinea and Emirates Global Aluminium are in discussions over a 'possible bauxite agreement, which would see the company sourcing the 'aluminium /feedstock from Guinea’s state-owned Nimba Mining. Guinea's military government, following a dispute that lasted a year over the construction an alumina refining plant, revoked Guinea Alumina Corporation's licence in July. The company then transferred its mining assets to Nimba Mining. Sources, including a government...

Three industry sources have confirmed that gold mining companies in the Ivory Coast are now paying an 8% royalty backdated to January after months of disputing its legality. The world's largest cocoa producer has replaced the previously linked 3%-6% contract rate with a flat 8%?rate. The miners refused to pay at first, claiming that it was illegal because their contracts protected them from fiscal changes. They then entered into negotiations with the government in order to get the new royalties scrapped. The three people who are familiar with the issue, but declined to be identified because they weren't authorised to...

Fortuna Mining's West Africa Operations Chief said that the company is looking for mid-tier gold assets and accelerating new projects as it works to achieve its 500,000 ounces annual production target, after selling mines located in Burkina Faso, Mexico, and?Burkina?Faso. Canadian miner sells Yaramoko mines in Burkina Faso, and San Jose operations in Mexico, cutting short-term, high-cost assets but also reducing production. It has made new deals including a joint-venture with DeSoto to explore in Guinea, and a larger stake in Awale Resources a West Africa focused?gold-explorer with operations on the Ivory Coast. This is in line with a global...

Intel, the U.S. chipmaker, lost its appeal against a 376 million euro ($438 millions) EU antitrust penalty imposed two years earlier for 'thwarting competitors.' But it gained some comfort as Europe’s second highest court reduced the fine by a third. The European Commission (which is the EU's competition enforcer) handed out the fine in 2023, after the court threw out an earlier penalty of 1.06 billion euro imposed by the tribunal in 2009 for blocking Advanced Micro Devices. The 376 million Euro fine was a result of payments Intel made to HP, Acer and Lenovo between November 2002 and December...

The U.S. Military said it plans to build a fleet small-scale refineries that will produce the critical minerals needed to manufacture bullets, armor, and other types of weaponry. This is a step to create domestic sources of niche materials, which Chinese miners have 'long controlled. Plans, not previously announced, are being developed jointly by the U.S. Army, the Idaho National Laboratory, and the antimony and gold mining company Perpetua Resources. Antimony is the first mineral that the military wants to refine. The Army has said that it will not produce large quantities of minerals for private consumption. However, a small-scale...

China's imports of iron ore in November dropped for the second consecutive month by 0.7% compared to the previous month. The decline was due to a decrease in buying interest after several mills began equipment maintenance because profit margins were shrinking. Data from the General Administration of Customs revealed on Monday that China imported 110.54 millions metric tons of this key ingredient for steelmaking last month. It was less than 111.3 millions tons in October, but higher than 101.86 in the same month of last year. Last month, more steel mills performed maintenance on furnaces as iron ore prices remained...

Australian shares fell on Monday. Miners and gold stocks were the worst hit, but investors are bracing themselves for tighter monetary policies from the central banks this week. As of 2311 GMT the S&P/ASX 200 was down by 0.2%, at 8,620.4, after a winning streak of four sessions. The benchmark index closed Friday 0.2% higher. A poll conducted last week indicated that the Reserve Bank of Australia will likely leave its cash rate unchanged on December 9 at its final meeting in 2025. Recent data showed a resurgence of inflationary pressures, and the economy had grown at its fastest pace...

Anson Resources, based in Australia, announced on Monday that it had signed a nonbinding Memorandum of Understanding with Utah-based Nusano for the supply of lithium chloride to be used in advanced manufacturing and nuclear applications. Anson will provide samples of lithium chloride from its Green River Project in Utah to be tested for qualification. Talks are aimed at an agreement covering a five-year period and at least 300 tonnes equivalent lithium carbonate per year. Nusano is a privately-held company that plans to use Anson’s lithium chloride feedstock in order to produce lithium-6, lithium-7, and other isotopes for the nuclear sector...

BHP, a global miner, announced on Friday it had taken delivery of two electrical haul trucks for a trial to begin at its Jimblebar Iron Ore Mine in Australia's Pilbara. The truck trials are intended to reduce diesel consumption and greenhouse gas emission. BHP stated that the battery-electric trial, in partnership with Rio Tinto, and Caterpillar industrial equipment manufacturer, aims to test whether the technology can be used as an alternative for diesel in large-scale mining operations of iron ore. BHP stated that after the trial, miners will independently determine the progress they have made towards scaling up trials in...

Melanie Joly, Minister of Industry for Canada, announced on Wednesday that the merger between Anglo American Resources and Teck Resources would be subject to a review by Canada's national security agency. Joly said Ottawa will also make a final decision within the next few months. She told reporters via a teleconference that "the national security review of any transaction is always a part of the procedure... we are following the process." Teck shares were up 1% at midday in Toronto. Anglo American's shares closed Wednesday with a 2.4% gain at the London Stock Exchange. A proposed deal worth $53 billion,...

Lynas Rare Earths, based in Australia, said that it estimated a possible shortfall of one month's worth of production at its Kalgoorlie plant in Western Australia due to significant power supply interruptions. Lynas stated that the Kalgoorlie Rare Earths processing facility has experienced a dramatic increase in power supply interruptions since 2025. November saw a particularly high number, which resulted in significant losses in production of Mixed Rare Earth Carbonate. The largest rare-earth manufacturer outside China, the world's biggest rare-earth supplier, also expects that the Kalgoorlie disruptions will affect the production of finished products at its Malaysian plant during the...

Harmony Gold announced on Monday that its board of directors has approved an investment between $1.55 and $1.75 billion for the development of its Australian copper project, following completion of a new feasibility study. South Africa's largest gold producer is now diversifying into the copper industry as gold mining becomes more expensive and difficult geologically in its own country. Copper's appeal is also boosted by its use in electric vehicles and grid infrastructure. Harmony acquired the Eva Copper Project in Queensland in 2022. Harmony said that the mine will produce 65,000 tons of copper concentrate per year in its first...