Australia

The world's shares tipped higher on Friday ahead of U.S. employment data, while the bond market received some much-needed relief after a Federal Reserve official reduced expectations for rate hikes and drove down the dollar. The dollar's decline had run its course, as the normal pre-payrolls patterns?played themselves out. But it left the Japanese yen poised for a weekly increase of nearly 2,5% -- its highest since late July when Japan and the United States?joined forces. The yen has seen its best weekly rise since late July, when Japan and the?U.S. conducted a rare joint effort to stop a downward...

The world stock market fell on Wednesday as fresh U.S. strikes on Iran pushed oil prices up to a five-week high, fueling inflation fears and extending the global bond saleoff. The U.S. attacked Iranian military targets near Strait of Hormuz while Tehran claimed it had targeted U.S. resources across the region. This was the largest exchange of fire for weeks. Brent crude futures rose 0.1% to $94.87 per barrel on fears of further disruptions in energy supplies. Kiran Ganesh is a multi-assets strategist at UBS Global Wealth Management. She said that the recent rise in energy prices had put further...

The dollar reached a two-week peak on Wednesday, as investors flocked to the U.S. dollar amid growing concerns over the impact of the energy crisis and diverging monetary policies?across major economies. After the largest exchange of fire for weeks, the U.S. and Iran were back in a war-like situation on Wednesday. The dollar tends to gain from higher oil costs because the U.S. is less vulnerable to energy shocks compared to other major economies. This attracts demand to the detriment of currencies like the euro and the yen. The Federal Reserve faces a growing threat of tightening policy in 2027,...

The stock market in Asia slumped on Wednesday, as the global selloff triggered by the bond markets spilled into?the region after renewed U.S. attacks on Iran drove oil prices higher. MSCI's broadest Asia-Pacific share index outside Japan fell 1.5%, as South Korea's KOSPI plunged more than 3% and the Nikkei was down 2.6%. S&P 500 futures fell 0.1%. Brent crude futures continued to rise as trading resumed on the Asian continent, rising by 1.3% to $95.91 per barrel. This was after U.S. airstrikes against Iran, which had pushed prices up to a 5-week high, on Tuesday. Westpac analysts noted that...

The global bond yields reached new highs as the renewed fighting in the Middle East pushed up oil prices. Traders were preparing for an interest rate increase, which put pressure on stock markets around the world. Investors were also worried about the ever-increasing public debt. The yield on Britain's 10-year bond hit its highest level since 2008, above 5.25%. Meanwhile, the German equivalent yield reached a 15-year record at 3.36%. Ryutaro kimura, senior strategist at BNPParibas Asset Management, Tokyo, said: "I think that there is now a sense -- tinged by helplessness -- of resignation about rising interest rates." The...

Investors worried about inflation and a new wave of interest rate increases were prompted by renewed fighting in the Middle East, which boosted oil prices. Japan's benchmark?10-year? has hit 3% for a first time in generations. The 10-year U.S. Treasury Yield, which is used as a benchmark to determine prices in all asset classes, broke resistance at 4.75% and now stands at 4.78%, its highest level since early 2025. The futures market for French and German bonds extended the selling, which drove yields up to 15-year highs. Australia's 10-year bond yield rose at the fastest rate in five months. Ryutaro...

Global bond yields reached new highs as renewed fighting in the Middle East pushed oil prices to $90 per barrel, and pressured stock markets around the globe. Japan's benchmark 10-year rate hit 3% for a first time in decades. The 10-year U.S. Treasury Yield, which is used as a benchmark to price all asset classes, reached its highest level since early 2025, at 4.78%. Futures for French and German bonds extended the selling that had previously driven yields up to 15-year levels. Ryutaro kimura, senior strategist at BNP asset management in Tokyo, said: "I think that there is a sense...

Oil prices fell for the first time in three weeks last Friday as investors weighed Gulf developments and awaited Kevin Warsh's potentially market-moving comments. Brent fell 0.6% to $89.2 per barrel, close to the middle of its range since mid-June. The benchmark was still on track to drop more than 5% this week. Attention is focused on an upcoming deal between Iran, Oman, and the U.S. on the management of traffic through the Strait of Hormuz. The fall in oil prices combined with the rally in technology shares after Nvidia’s results on Tuesday helped the?MSCI all country world share indices...

After a technology rally fueled by Nvidia, shares in Asia slowed down on Friday. The currency and bond markets waited for the most powerful central banker of the world to comment on U.S. rates. The oil prices are headed for a weekly loss as Iran and Oman have agreed to share'revenues and administer 'traffic along the Strait of Hormuz, even though Washington is not interested in restarting direct talks with Tehran. Brent fell 0.4% to $89.33 per barrel, but the weekly decline was expected to be over 5%. The Nikkei, Japan's stock market index, rose 0.5%. Taiwanese stocks gained 0.8%...

The shares in Asia were cautious after the technology rally fueled by Nvidia, and currency and bond markets awaited the words of the world's largest central banker on U.S. rates. The oil prices are headed for a weekly loss as Iran and Oman have 'agreed' to share revenues and administer traffic in the Strait of Hormuz, even though Washington has shown little interest in restarting direct talks with Tehran. Brent fell 0.1% to $89.63 per barrel, but the weekly decline was expected to be over 5%. The Nikkei, Japan's stock market index, rose 0.5%. Taiwanese stocks gained 1.2%, after Nvidia's...

Stocks climbed at the beginning of Thursday's Asia-Pacific session, as Nvidia beat expectations. This boosted tech hardware manufacturers' confidence and revived investor confidence after overnight data showed that the Federal Reserve preferred U.S. Inflation measure was still hot. MSCI's broadest Asia-Pacific index excluding Japan rose 0.7% and is on course to extend gains for a third day in a row after Nvidia announced that its quarterly revenues had more than doubled, and forecasted third-quarter revenue well above Wall Street expectations. In after-hours trades, the AI chipmaker's stock jumped by 4.7%. This lifted S&P 500 e-minis futures 0.4%. Chris Weston said,...

Investors regained calm in the global bond and share markets on Tuesday, as they shrugged off U.S. sanctions plans against Iran. They began to prepare for Nvidia's earnings report due out Wednesday. U.S. Treasury secretary?Scott Bessent warned countries to cut financial ties with Iran on Monday or face secondary sanctions. However, the Treasury Department did not actually impose penalties. The news prompted a slight drop in oil prices as well as the benchmark government bond yields. This was also aided by the report that the U.S. Treasury may use its cash account to fund increased U.S. Debt Buybacks. Wall Street...

Australian shares closed 'little changed' on Friday, but posted their worst week in a month as losses among miners and energy stocks were offset by gains for banks after the Fed made dovish remarks. The S&P/ASX 200 closed 0.2% lower, at 9,005,90 points. This was its worst week since 10 August. On Thursday, the benchmark index gained 0.5%. Federal Reserve Governor Christopher Waller stated that benign inflation data could strengthen the Fed's case to hold rates at its policy meeting later this month. Cameron Curko of Pitcher Partners independent accounting firm, CIO, said that the remarks were "supportive of the...

A spokesperson for Australia's Lynas Rare Earths said that the company was in takeover discussions earlier this year, but they 'did not' proceed. Three people said that the talks led Lynas, through Chairman John Humphrey, to suspend its search to find a new CEO for Amanda Lacaze, who retired from her position in June. Lynas plays a major role in developing a Western supply network for metals that are crucial to electric cars, wind turbines and defence systems. This is also an important draw for Australia, as it has committed to being a major supplier of minerals to its allies....

A record low smelter treatment term, a year of underperformance by mines and a scramble to get metal at the London Metal Exchange. If you think this is the description of the copper markets, then think again. Zinc is under pressure now, even though copper may face a structural shortage in the future. LME zinc for three months hit a four-year-high of $3,990 per ton on Monday. LME stocks have remained low throughout the year. The registered inventory is 100,525?tons but nearly a third are in the form?cancelled warrants? awaiting physical loading-out. The time-spreads will be emphasized in a similar...

Four sources said that the top?global aluminum producers offered Japanese buyers a premium of $310-$325 per metric tonne for primary metal shipments in October and December, down by 18%-22% on the current quarter. Japan is the largest importer of light metals, and the premiums it agrees to each quarter for primary metal shipments over the London Metal Exchange cash price are the benchmarks in the region. Japanese buyers had agreed to pay a premium of $395 per ton for the period July-September The increase was between 12% and 13% compared to the previous quarter. A source from a Japanese trading...

BHP's commercial officer Rag Udd will step down by the end of January in order to pursue a career outside the company. This was revealed in a memo sent out on Tuesday. The miner is now left with a difficult role -- negotiating iron-ore deals with China. Some analysts and investors had considered Udd as a candidate for the "top job" at BHP. Brandon Craig, who started in July, was given the position. According to the memo, Udd will have been working at BHP in Singapore for 30 years by the time he leaves. Udd?was responsible for BHP's negotiation with...

Two U.S. officials said on Monday that the U.S. company North American Blue Energy Partners would take over oilfields controlled by several Chinese firms and a Russian firm. They said that the 'takeover' will be part of an oil production agreement President Donald Trump has announced with Venezuela. According to officials, the projects were part of 14 new contracts awarded to U.S.-backed North American Blue Energy Partners. NABEP, owned by U.S. oil magnate Harry Sargeant, is now controlled and managed by Venezuelan Alejandro Betancourt. Last week, Trump said that the U.S. has secured access to 64 billion barrels (or a...

Argentina and Chile want to unlock 'billions' of dollars worth of mining investment by advancing regulatory and legal frameworks which would allow 'companies to pool infrastructure and resources in the Andes Mountains. The Mining Integration and Complementation Treaty will be discussed by officials from both countries on Thursday. This 1997 agreement was revived in July following decades of slow progress. They are looking to move forward a new generation copper projects. Both the conservative Chilean president Jose Antonio Kast (who took office in March) and the libertarian Argentinean President Javier Milei are attempting to increase private investment. Chile's Mining minister...

Lynas rare earths, based in Australia, reported a'sharp rise' in its annual profit on Wednesday. This was aided by a record-high average price for a?rare-earths oxychloride and a strong demand. However, it missed the'market expectations, which sent its shares down in early trading. The largest rare-earths manufacturer outside China, said that the price increases were due to firm pricing and agreements on floor prices with Japanese and U.S. clients. This helped reduce volatility. Its average selling price rose 59% to $80.7 per kilogram, helped by ?improved pricing of neodymium-praseodymium, a key rare-earth magnet material, and a higher ?share of heavy...

Fortescue is Australia's third largest miner. On Tuesday, it announced that a senior executive was suspended while he was under investigation for allegations of sexual harassment. Fortescue took the allegations "extremely serious" and hired MinterEllison as an investigator, it said in a last-week statement. Australian Financial Review first reported the allegations against the senior executive, who has not been named, earlier this month. The miner stated on Tuesday that Fortescue had continued to seek external legal and governance guidance as the investigation progressed. The employee who is the subject of the allegations has decided to not work for Fortescue until...

A Brazilian court announced on Thursday that 19 additional cities have joined the compensation agreement reached with the miners BHP Vale Samarco over the 'collapse of the Mariana dam in 2015', including the city which was at the epicenter of the disaster. The deal signed in October 2024 and ratified by 45 out of 49 municipalities that are eligible for funds now has the backing of these 45 municipalities. The 2015 dam failure in an iron ore mining owned by Samarco (a joint venture between Vale, BHP and BHP) near the city of?Mariana, in southeastern Brazil killed 19 people and...

Fortescue, an Australian mining company, reported a higher profit for the year on Thursday. This was largely due to a rise in iron ore shipments and a stronger realised price. The company announced a final payout of 46 Australian cents for each share. This is down from 60 Australian cents a year earlier. The miner declared its lowest final dividend?since fiscal 2018 with a payout of?65% on fiscal 2026's underlying net profit. Fortescue met market expectations for its earnings despite increased Hematite C1 costs due to higher diesel prices. The fourth largest 'iron ore miner in the world reported a...

Executives and analysts say that Indian steel mills face increasing pressure on their margins due to higher "coking coal" prices as a result of the Iran War and supply disruptions in Australia and China. India, after China the largest crude steel producer in the world, imports 95% of its coal, at least half from Australia. Nearly 40% of the cost of steel production is accounted for by coking coal. Indian steelmakers are increasing their spending in order to meet the strong domestic demand, driven by infrastructure development and economic growth. This could lead to squeezed margins and a delay in...