Australia / New Zealand

MSCI's global equity gauge fell on Wednesday, with technology stocks leading the losses on Wall Street. The dollar rose broadly after the latest U.S. data on economic growth and silver outperformed the gold price following their recent drop. Oil prices rose for the second day in a row as U.S.-Iran appeared to be at odds on certain elements of their nuclear talks plan, which is expected to take place on Friday. Tuesday, crude prices spiked after the U.S. shot a drone carrying an Iranian flag and armed boats approached U.S.-flagged vessels in a key waterway. Investors reacted to economic data...

MSCI's global equity gauge fell on Tuesday, with technology stocks leading the losses on Wall Street. The dollar rose broadly after the latest U.S. Economic data. In precious metals, silver outperformed the gold following a recent drop. Prices of oil?were slightly lower. Oil prices spiked Tuesday, after the United States shot a drone belonging to Iran and armed boats approached an American-flagged ship in a major waterway. U.S. Treasury Yields initially lost some steam following ADP's National Employment Report, which showed a slower-than expected growth in January. Private employment increased by 22,000 after a downwardly-revised 37,000 job increase in December,...

On Wednesday, global shares fell as fears grew over the impact of artificial intelligence on key sectors in the technology sector. Gold, however, was heading for its largest two-day increase in 17 years. The oil prices spiked briefly after?the United States shot a drone from Iran and armed boats approached a U.S. flagged vessel in a major waterway. Anthropic launched plug-ins on Friday for its Claude Cowork Agent, which raised concerns about the AI-driven disruption of these industries. European stocks dropped from record highs. Shares in companies like LSEG, RELX REL.L, and Wolters Kluwer WLSNc.AS, both of the Netherlands, fell...

The mood was lifted by the resurgence of gold and Asian stocks on Tuesday, as the trade tone cooled down after the wild swings seen in the metals market. A?deal reducing U.S. Tariffs against India also helped. Meanwhile, the Australian Dollar rose 'after an interest rate increase. The central bank of Australia joined Japan in tightening policy. It said that above-target inflation, coupled with a tight labour markets, justified the unanimous decision to raise the cash rate by 25 basis points. The markets had anticipated this move but are now trying to price in the follow-up for May, which was...

Global shares dropped on Monday as investors rushed to sell precious metals to offset any losses. This was just before a week filled with corporate earnings and central bank meetings, along with major economic data. Silver is on track to suffer its worst two-day loss since the 1980s. It fell another 7%, adding to Friday's 30 percent drop. Dealers say that pressure on several?silver?futures funds from China contributed to the crash late last week. The CME raised margins for a variety of futures contracts including silver and gold on Monday. The oil prices fell by more than 4% after President...

Gold and the dollar fell on Friday as global stocks rose, but the dollar rose. Nominated Kevin Warsh is his choice for the next Federal Reserve Chair. Warsh is a former Fed Governor and is seen as a supporter of lower interest rates. He is also considered one?of the?less radical choices from amongst all those who were suggested. The MSCI World Index was last 0.16% up as European shares rose, despite a drop in Asia-Pacific stocks. The pan-European STOXX 600 index was last 0.72% up, retaining gains made after Trump's announcement. It was on course to end January with a...

The dollar recovered its footing after it had fallen sharply on Tuesday, when U.S. president Donald Trump appeared to "shrug off" its recent weakness. Meanwhile, positive earnings kept the world stock market near record highs ahead of a Federal Reserve interest rate decision. The?U.S. The?U.S. European stock markets declined, but U.S. futures indicated a positive opening for Wall Street. Japan's blue chip Nikkei also gained. The MSCI World Stock Index was hovering at record highs. "Last Week, when it seemed like there was a flight away from the U.S., you saw equities fall, Treasuries take a hit, and the Dollar...

After a steep sell-off on Wednesday, the dollar found its feet. U.S. president Donald Trump seemed to shrug its recent weakness. Meanwhile, upbeat earnings kept global stocks near record levels?before? a Federal Reserve rate announcement. The U.S. dollar dipped from four-year lows, but sentiment was fragile after the biggest selloff since Trump’s tariffs blitz shook markets in April. European stock markets declined, but U.S. futures indicated a positive opening for Wall Street. Japan's blue chip Nikkei also gained. The MSCI World Stock Index was hovering at record highs. "Last weekend, when it seemed that there was a flight away from...

Asian shares reached a record high on Tuesday, as investors hoped that the U.S. earnings of large-cap companies would be positive. However, uncertainty over President Donald Trump's tariff moves against South Korea has boosted gold and Silver. Trump said late Monday that he will increase tariffs to 25% on imports of goods from Asia's 4th largest economy. The Nasdaq Futures rose 0.5% as investors prepared for the slew earnings that will be released by Microsoft, Apple, and Tesla on Wednesday. Even South Korea's KOSPI surged by over 2% and reached a new high. The EURO STOXX futures are pointing to...

Investors hoped that a barrage?U.S. Mega-cap earnings were a big factor, but uncertainty due to President Donald Trump's tariff moves against South Korea capped broader gains. Trump increased tariffs to 25% on autos, lumber, and pharmaceutical imports to the U.S. from Asia's 4th-largest economy. The Nasdaq Futures rose 0.2%, as investors prepared for the earnings of the Magnificent Seven, including Microsoft, Apple, and Tesla, on Wednesday. Even South Korea's KOSPI reversed earlier losses and was last to gain 0.8%. Silver surged 6.4% to $110.60 per ounce and is not far off the record set just on Monday. Christopher Louney is...

Gold surged above $5,000 per ounce?Monday. This was boosted by safety flows amid dollar strength following a turbulent last week, where investors were rattled by tensions regarding Greenland and Iran, while markets remained on edge after violent spikes of the yen. After sharp spikes in the yen on Friday, speculation about possible intervention grew. Sources say that the New York Federal Reserve checked rates on Friday. This raises the possibility of a joint U.S. and Japanese intervention to stop the currency's decline. The market is inclined to short the yen, but with the possibility of coordination it is no longer...

Asian stocks fell Tuesday as trade war concerns resurfaced and caused a sell-off in U.S. ?assets. Investors are rushing to secure assets such as the Swiss Franc or gold in response to U.S. president Donald Trump's threat to impose additional tariffs on Greenland. This could fuel trade tensions between the U.S. and Europe. Talk of the "Sell America" trade has been revived after the tensions. This is where investors sell U.S. stocks, dollars and Treasuries. The trade seemed to be gaining momentum during Tuesday's Asian hours. Nasdaq futures and S&P500 futures both fell 1% during the early trade. The dollar...

Maas Group, an Australian company, announced on Thursday that it would be selling its building materials division up to A$1.70billion ($1.19billion) in order to pivot to artificial intelligence infrastructure. This caused its shares to drop by more than 26%. Maas Group is selling its Construction Materials (CM), a?unit, to Heidelberg Materials' local subsidiary, HMA. It will also invest A$100m in Nvidia AI infrastructure?firm Firmus Group, for a 1.7% share. The conglomerate was founded by former rugby player Wes Maas over 20 years ago. It is now selling an unit that generated approximately half of the A$219 millions in core operating...

Australia's Ardea Resource said that on Thursday, its Kalgoorlie Nickel Project received separate letters from Export Finance Australia (A$1 billion) and the U.S. Export-Import Bank to support a possible funding of up A$1 Billion ($699.90 Million). The funding will be used to support Kalgoorlie Nickel’s Goongarrie hub?project in Western Australia. This project is expected to supply nickel and cobalt which are both critical minerals in lithium batteries. Ardea shares jumped 9.6% by 0058 GMT to A$0.745, their highest level for nearly two weeks. They also snapped out of three sessions in losses. The 'Trump administration' has increased efforts to secure...

Idemitsu Kosan, a Japanese oil refiner, announced on Wednesday that it had reached an agreement with Australia's Graphinex and Marubeni, a trading house, to create a Japan-Australian supply chain for graphite-based materials. Idemitsu stated that the four companies are aiming to reduce procurement risk for Japan's batteries industry and strengthen supply-chain reliability across Asia. Anode materials are in high demand due to the global increase of electric vehicles and renewable energy storage. Japan is heavily reliant on graphite imports, so ensuring a stable supply of this material is a major challenge. China has the largest graphite deposits in the world...

The CEO of the company said that an Australian scandium project, backed by mining billionaire Robert Friedland, will contribute to the 'planned 12?billion U.S. stockpile of critical minerals. Donald Trump, the U.S. president, announced on Monday plans to build a strategic stockpile for critical minerals backed up by $10 billion of seed funding from U.S. Export-Import Bank. A further $2 billion of private capital will be used to fund the project. Sam Riggall is the CEO of Sunrise Energy Metals which is developing the Syerston scannerdium mine in Australia's New South Wales. He said the company would likely contribute to...

The Australian share market rose modestly Tuesday. It was on track to end four consecutive days of losses. Mining and banking stocks were at the forefront, as the index gained ground. This came ahead of the central bank's announcement on the cash rate, which is due later in the day. S&P/ASX 200 Index grew 1.1% by 2323 GMT to 8,875.80, a record high. This is the best trading session since 23 December. The benchmark index fell 1% Monday. Investors will be watching the Reserve Bank of Australia's meeting to determine the monetary policy decision. The rate decision is expected at...

Capstone Copper Corp. resumed its operations at the Mantoverde Copper and Gold Mine in northern Chile despite a strike by a union that represents nearly 22%. In a filing to the Australian stock exchange dated 1 February, the company reiterated that it expected to continue operating at a level of 50% to 75% normal production throughout this strike. The shares of Capstone Australia listed depositary receipts fell as much as 4.5 percent to A$15.810 per day, their lowest levels since January 23. The decision to resume operations was made following a Chilean Court ruling that authorized the removal of striking...

Mozambique President Daniel Chapo inaugurated a 200,000-metric-ton-per-year graphite-processing plant on Friday at a Chinese mine, as the country boosts its output of the battery mineral. The United States Geological Survey estimates that the annual global production of graphite is 1.6 millions metric tons. Mozambique, meanwhile, is one of world's leading producers of this mineral. It is an?excellent conductor of electricity and heat, and is used to make?batteries and mobile phones for electric cars. China is the largest graphite producer and miner in the world. Chapo said Mozambique was making the most of its resources, including a liquefied gas project worth...

Australia said on Friday that it would continue to support its vital mineral supply chains, after the U.S. withdrew from plans to guarantee a price minimum for such projects. Shares in?Australian rare earth miner companies fell sharply Thursday after a report by? Reports on the Trump Administration's retreat impacted shares of?Australia's rare earth miners sharply on Thursday. On Friday, the sector was still in red. Lynas, the largest producer of rare Earths outside China was down more than 4%. Trump administration officials communicated the backdown to U.S. mining executive and indicated that there was no funding from Congress for price...

The firms announced on Thursday that the Aluminium Corporation of China (Chinalco), and Rio Tinto had agreed to purchase a controlling interest in Companhia Brasileira de Aluminio, for a total amount of 4.69 billion Reis ($903.61 millions). The companies said that together they will purchase 68.6% or 446.6 millions shares of Brazilian aluminium manufacturer CBA at a price of 10.50 reais per share. They added that the Brazilian conglomerate Grupo Votrorantim will purchase the controlling stake. Both will launch a tender for the remaining CBA shares, a move that is required by Brazilian regulations and could lead to the removal...

PLS Group, an Australian lithium producer, signaled a possible restart on Friday of a plant that was under maintenance and care after posting a surge of revenue for the December quarter. The improved?demand? helped to buoy prices for battery material. Pure-play lithium mining company, previously Pilbara Minerals posted a second-quarter revenue increase of A$373 (262,89) million, up from A$216 (216.89 million) a year ago. PLS has received $1,161 per tonne in prices, up 50% on the September quarter. A strong interest in offtake volumes has led the company to announce that it may restart its 'Ngungaju' plant in Western Australia...

Multiple sources have confirmed that the Trump administration has backed away from its plans to guarantee a price floor for U.S. Critical Minerals Projects, as a tacit acknowledgement of a lack in congressional funding and complexity of setting market prices, according to?. This shift comes at a time when a U.S. Senate Committee is reviewing a price ceiling extended to MP Materials in the past year. It marks a reversal of commitments made to the industry. Washington could also be set apart from other G7 countries discussing joint price support measures or similar measures to boost production of critical minerals...

Gold and silver have been making headlines for their massive rise in recent months, but industrial metals are also performing well. The fundamentals of copper, aluminium, and nickel have been a strong factor in the recent gains. These metals are at record highs or multiple-year highs, even though they do not appear to be sufficient for these rallies. Base metals are showing strength for a number of reasons, the majority of which relate to Chinese import demand and easing exports. Metals may also be benefiting from the same speculative dynamics that drive gold and silver. This is a desire for...