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European shares dropped on Friday as traders worried about the valuations of tech stocks. The U.S. employment data showed a mixed picture. This added to the traders' insecurity and diminished hopes that Federal Reserve would cut rates this year. Wall Street was led lower by technology stocks on Thursday, despite a positive report from Nvidia about its earnings. Fears of a market bubble fueled by AI were not dispelled despite the chipmaker's good news. Investors continued to dump riskier assets during Friday's Asian trade. At 1007 GMT the MSCI World Equity Index had dropped 0.5%, and was on course for...

Asian stocks fell in the early trading on Tuesday as investors reduced their bets on a Federal Reserve rate reduction next month. The government shutdown had delayed a flurry of important U.S. economic data. The closely-watched September nonfarm payrolls data is due on Thursday. The focus in the region also centered on the meeting between Japan's new prime minister Sanae Takaichi and Bank of Japan Governor Kazuo Ueda, which took place at 0630 GMT. This was the first time the two had met since the new leader's inauguration last month. In a Tuesday research note, JBWere analysts stated that "there...

The world stock market was looking to return to record levels on Thursday, following the end of the U.S. shutdown which is the longest ever recorded. Meanwhile, the Japanese yen, under pressure from the US dollar and the euro hit record lows. The STOXX 600 index in Europe had a difficult day. A near 1% increase from France's CAC 40 pushed both indexes up to their highest levels before profit-taking and a 5% drop by German engineering giant Siemens brought it down. The U.S. Stock Futures fluctuated from a slight negative to a 0.2% gain, but the 47-country MSCI All...

The world stock market was looking to return to record levels on Thursday, following the end of the largest government shutdown in history. Meanwhile, the Japanese yen, which is under increasing pressure due its devaluation against the euro and the dollar has reached a new record low. The STOXX 600 index in Europe made a steady debut with a nearly 1% increase from France's CAC 40, pushing both indexes up to their all-time highs and offsetting the more than 4% drop from German engineering giant Siemens reported disappointing earnings. The U.S. Stock Futures fluctuated from a slight negative to a...

The dollar was stable and government bond yields were rising. Global shares rose Monday on the back of optimism that a resolution to a historic U.S. shutdown is in sight. On Sunday, the U.S. Senate advanced a measure that would reopen federal government and put an end to a shutdown of 40 days. The shutdown has caused federal workers to be unable to work and food aid delays and slowed air travel. In a procedural motion, the Senate advanced a bill passed by the House. The amended version will fund government operations until January 30, and includes a package of...

Investors worried about the sustainability and growth of artificial intelligence stocks, while U.S. Treasury rates dipped. The Nasdaq has fallen about 3% this week. Chip stocks and other tech-related shares have also been among the worst performers. As optimism about AI drove markets to new highs, the Nasdaq gained more than half since April when U.S. president Donald Trump announced tariffs. The Financial Times, however, reported earlier this week that Nvidia CEO Jensen Huang warned the U.S. to be prepared for China's victory in the AI race. We're still seeing the AI selloff after our comments... about China winning in...

The major stock indexes rose Friday. All three major U.S. indexes posted record closing highs following news that U.S. Inflation rose less than anticipated last month. Meanwhile, the U.S. Dollar Index was almost flat. After a 0.4% increase in August, the U.S. Consumer Price Index increased by 0.3%, which was slightly below the 0.4% expected. This reinforced expectations that Federal Reserve policymakers will reduce interest rates during their next meeting. "Today's data on inflation shows that we are not in a similar crisis to 2022. Prices are rising, but in a controlled manner. Callie Cox is the chief market strategist...

On Friday, major stock indexes rose with U.S. shares reaching record highs on the news that U.S. Inflation rose less than anticipated last month. The U.S. Dollar Index was almost flat. After a 0.4% increase in August, the U.S. Consumer Price Index increased by 0.3%, which was slightly below the 0.4% expected. This reinforced expectations that Federal Reserve will reduce interest rates during its policy meeting next Monday. "Today's data on inflation shows that we are not in crisis like 2022. Prices are rising, but in a controlled manner. Callie Cox is the chief market strategist for Ritholtz in Charlotte,...

The dollar was stable and oil prices were down as traders waited to see U.S. data on inflation. Wall Street had Close higher On Thursday, sentiments were boosted by the White House's confirmation that U.S. president Donald Trump will be attending. Xi Jinping, the Chinese president, will be visiting Asia next week. The meeting was seen as an indication of the slight easing of tensions between China and the U.S. before a deadline of November 1, for additional U.S. duties on Chinese imports. The Shanghai Composite Index in China rose by 0.4% to its highest level since August 2015. European...

The oil prices rose by about 5% after Washington imposed new sanctions against major Russian companies for the war in Ukraine. Major stock indexes also edged up as gains from U.S. energy stocks and European energy shares offset some disappointing earnings reports. The sanctions were announced late on Wednesday and targeted major Russian suppliers Rosneft, Lukoil. The U.S. announced it was ready to take additional action, as it urged Moscow to immediately agree to a ceasefire. Energy was the leading sector to gain on Wall Street, according to the S&P 500 index. Energy was the last sector to gain 1.2%....

The global stock market got a boost Thursday thanks to a series of positive earnings reports that helped offset some of the gloom in Wall Street due to a lacklustre performance by tech megacaps. Oil prices also rose following U.S. sanction against Russia. Oil prices rose 5% following Washington's sanctions against major Russian companies Rosneft, and Lukoil for the Ukraine conflict. The STOXX 600 index rose 0.3% for the day, as positive earnings helped to boost the domestic indices. The MSCI All-World Index, however, fell 0.1% and is now heading towards its third consecutive day of decline. Chinese stocks recovered...

Wall Street stocks plunged on Tuesday as renewed trade tensions between Washington, Beijing and a prolonged U.S. Government shutdown dampened investor risk appetite. In early trading, all three major U.S. indexes were in negative territory. The tech-heavy Nasdaq was the most affected by megacap stocks. Crude oil prices dropped and gold prices, a safe haven, jumped above $4100. The International Monetary Fund report, which raised its outlook for global growth as the impact of tariffs and the financial environment has been more benign than anticipated, did not cause as much damage to the market. However it warned that a trade...

BHP Group announced on Monday that it has decided to abandon its pursuit of a possible merger with Anglo American following preliminary discussions with Anglo American's board. The company stated that it believes a tie up would have created value for its stakeholders and offered "strong strategic benefits". However, it added that the strength of their own organic growth strategy remains strong. BHP tried to take over Anglo for $49 billion last year. However, the target refused multiple offers and BHP withdrew. BHP should assess the possibility of selling such assets. It does seem a bit messy on the BHP's...

A union official announced on Friday that American Industrial Partners, an investment firm based in the United States, plans to sell or list Aluminium Dunkerque on the stock exchange, France's biggest aluminium plant. Johan Vlietinck told CGT that the local management had informed the workers of AIP’s plan. Bloomberg News reported earlier that AIP considered a sale or listing of Aluminium Dunkerque. The company acquired the property four years ago after GFG Alliance defaulted on its debts. GFG Alliance is owned by commodities tycoon Sanjeev Gupta. A spokesperson from AIP France stated that the fund did not deny the reports...

Sources said that China's state owned iron ore purchaser has ordered steel mills to stop buying a specific type of BHP ore. This ban is in addition to another one already in place, and escalates a dispute about a new contract. China Mineral Resources Group, set up in 2020 to centralise the purchasing of iron ore and to win better terms for miners, has asked Chinese steel mills to not buy new cargos of Jinbao Fines, a low-grade ore produced by the world's largest iron ore mining company, BHP. Sources said that CMRG had told mills they were not allowed...

Paul Weibel, CEO of 5E Advanced Materials, said that the company is in discussions with Los Alamos National Laboratory about securing $20 million of federal funding for the Fort Cady Boron Project in California. The project will help the company become one of few domestic suppliers of this newly-designated critical mineral. Weibel stated that the New Mexico laboratory had made an offer to finance the company's operations. Los Alamos didn't immediately respond to our request for comment. The U.S. Department of Energy operates the lab, which conducts research on national security, space exploration and nuclear fusion. It also conducts research...

Rio Tinto, Australia's largest alumina refinery company, announced on Tuesday that it would cut production at its Yarwun plant in Queensland by 40 percent starting October of next year. This will extend the life of the plant to 2035 while allowing time for modernization. Under current production rates, Yarwun’s tailings storage facility, which is used to store mining waste, will reach full capacity in 2031. The company said it had looked into options for a new tailings facility but that the required investment was "substantial" and "not currently economically viable." Rio Tinto stated that the reduction will affect around 180...

The Australian miner Syrah said Monday it had reached an agreement with Tesla to extend a deadline for addressing alleged non-compliance of their graphite contract, the second in two months. Elon Musk's automaker, Tesla, issued a default notification in July because Syrah had allegedly failed deliver active anode samples that were conforming from its Louisiana facility processing Tesla's batteries. Syrah stated that the original deadline of September 16, which was originally extended to November 15, has been further pushed back to January 16, 2020. The company stated that "Syrah has not accepted it is in breach of the offtake contract,...

Australian shares dropped nearly 1.5% Friday, sinking in a sea red and reaching their lowest level since July, as miners, financials, and fading expectations for a domestic interest rate cut this summer weighed on benchmark. S&P/ASX 200 Index fell 1.5% at 2348 GMT to 8,623.30. The benchmark index fell 0.5% Thursday. The index fell by 1.7% this week, on course for a third consecutive weekly decline. This was due to the weakness of major banks after the earnings announcements from Commonwealth Bank and the Thursday jobs data. The Labor Report reinforced expectations that Reserve Bank of Australia would hold rates...

Ibram, a Brazilian mining lobby group, said on Thursday that the law firm Pogust Goodhead would have to refund 811,000 pounds (about $1 million) after it dropped a London lawsuit filed against Ibram over a dam disaster in 2015. This amount is due to Ibram for the costs incurred as part of a lawsuit filed by 25 Brazilian municipalities represented by PG regarding the collapse of a Samarco dam, a joint-venture between Vale, BHP and Vale, that killed 19 people and contaminated a major river. A London court will announce its decision regarding BHP's responsibility in this case on Friday....

China's official Xinhua News Agency reported that Vice Premier Liu Guozhong visited the Simandou Iron Ore Mine Project in Guinea this past week. The project, which is 75% owned by China, will be the largest iron ore mine in the world, with a production capacity of 120 million tons per year. It will also be key to the green transformation in the global steel industry. Xinhua reported that the Chinese vice-premier called the project a result of the friendship and cooperation of China with Guinea and Africa for nearly 70 years. He added that the project would contribute to Guinea’s...

Liontown Resources announced on Wednesday that it has partnered with German digital commodity platform Metalshub for online auctions of spodumene from its Kathleen Valley Lithium project in Western Australia. After the announcement, shares of the Australian lithium mining company soared up to 5.7% to A$1.31, their highest level since the middle of 2024. This outperformed a 0.2% increase in the benchmark S&P/ASX 200. This tie-up aims to digitalise and streamline spot sales while promoting market pricing, as lithium buyers and producers adopt auction formats. The project will see the first 10,000 metric ton digital sale on November 19. Liontown plans...

Guinea's mines minister has told reporters that the country will accelerate the development of iron ore pellet and alumina refineries to stop decades of raw ore shipments. The first shipments of iron ore from the huge Simandou mine are expected this week. The World Bank stated in July that alumina and ore processing within Guinea could be a game changer for the country's economy, creating industrial jobs while reducing Guinea's exposure to swings in commodity prices. Guinea exports about 60% of its bauxite to China as a feedstock, and a third is iron ore from the Simandou Mine, which is...

Marubeni Corp, a Japanese company, announced on Monday that it would invest in an Australian mineral sands development project run by RZ Resources. This follows in the footsteps JX Advanced Metals of Japan who struck a similar agreement with RZ Resources earlier this year. Marubeni has agreed to pay A$15m ($9.75m) towards options that will grant it up 5% of the equity in RZ's Copi Mineral Sands Mine Project in New South Wales, as well as certain marketing rights if the feasibility of the project is confirmed. RZ, the owner of the Copi project, as well as a mineral separation...