Australia / New Zealand

MSCI's global equities index rose?on Thursday, while oil prices dropped. An interim agreement to end the U.S. - Iran war allowed the reopening?of the Strait?of Hormuz. This fueled hopes that inflation?could?ease and that the U.S. Federal Reserve might not have to?tighten monetary?policy? this year. On Wednesday, the United States and Iran reached an agreement that extended a ceasefire declared in April for another 60 days. This will allow both sides to negotiate a peace. The agreement also allows for the full resume of maritime traffic in the Strait of Hormuz "without charge". Donald Trump, the U.S. president, has threatened to...

The global stock market was torn Thursday between optimism and concern over the possibility of an increase in U.S. interest rates?this coming year following the Federal Reserve meeting. The United States and Iran released their agreement on Wednesday, which extends the ceasefire that was announced in April for another 60 days. This will allow both sides to negotiate a peace. The agreement also calls for the full resume of maritime traffic in the Strait of Hormuz "without charge". Oil dropped 2.8% more to $77 per barrel. This is the lowest price since early March. Futures and shares fell in Europe,...

Investors assessed the progress made in ending the Middle East war after the U.S. president and Iran's president signed an interim peace agreement, but uncertainties still lingered. The text of the agreement was released by both countries. It had circulated widely prior to its publication. The agreement extends the ceasefire that was announced in April for another 60 days, allowing both sides to negotiate an end to hostilities. Donald Trump, the U.S. president, has threatened to resume his attacks on Iran and to kill Iranian officials who fail to honor their commitments. Kyle Rodda is a senior analyst for Capital.com....

On 'Wednesday, major stock indexes declined, bond yields rose and the U.S. dollar extended gains against the euro after the Federal Reserve kept the benchmark interest rates steady. New projections revealed that officials expect to raise borrowing costs in the second half of this year due to rising inflation fears. This was the first rate announcement under new Fed chairman Kevin Warsh. As was widely anticipated, there is a good chance that rates will not be cut in this year. "This further confirms it," said Ryan Detrick. Chief?market strategist for Carson Group, Omaha. Detrick asked, "Now we have to ask...

The U.S. Dollar and major stock indexes gained on 'Wednesday, ahead of Kevin Warsh making his debut as Federal Reserve Chair. Oil prices also rose after doubts arose over the U.S. Iran peace deal. At the first Fed meeting, which will be chaired Warsh, the Fed is expected hold the interest rate steady. A new policy statement as well as economic projections are likely to reflect the growing concern over the inflation caused by the Iran War even after the recent peace agreement. In March, most committee members projected that they would cut rates. Adam Sarhan of 50 Park Investments,...

The?dollar remained steady against the yen, despite the Bank of Japan raising rates to a record high of 31 years. The markets shifted to a more measured approach on Gulf developments, as initial excitement about the preliminary agreement reached between Washington and Tehran started to fade. Investors were encouraged by SpaceX's massive IPO, which boosted its shares nearly 20% Monday. The market value of the space exploration company now exceeds $2 trillion. In premarket trading, they were up 10.5% on Tuesday. Separately the company announced that it would purchase Anysphere, the software giant behind the popular AI coding agent Cursor...

The global?stocks rose on Tuesday, following a rally on Monday on the news of a U.S. - Iran peace deal. Meanwhile, the dollar remained steady against the yen after the Bank of Japan increased rates to a '31-year-high. The markets have taken a more measured approach to Gulf developments, as the initial excitement surrounding the preliminary agreement reached between Washington and Tehran has begun to fade. Investors were encouraged by the blockbuster IPO of SpaceX, which took place late last week. Its shares rose nearly 20% on the following Monday and pushed the market value of the space exploration firm...

Asian stocks gained modestly on Tuesday, following a rally on Monday on the news of a U.S. - Iran peace pact. Investors also assessed a widely anticipated Bank of 'Japan 'rate increase that reached a new high of 31 years. The Nikkei index rose 0.6% and briefly crossed the 70,000-mark to reach a new high after the Japanese central banks voted to raise its benchmark policy rates to 1%. This was the highest level since 1995. The yen was unchanged at 160.31 against the dollar. The Australian dollar, which was 0.3% weaker at $0.70515, was also little changed. This is...

Asian stocks fell on Tuesday, as investors focused on 'central bank decisions. This included an expected 'rate hike by the Bank of Japan. The markets have taken a more measured approach to Gulf developments, as the initial excitement surrounding the preliminary agreement reached between Washington and Tehran has begun to fade. Brent crude futures rose 0.1% to $83,25 per barrel, reflecting the cautious approach. Shipping companies in Asia and Europe say it could take several weeks to rebuild confidence that the Strait of Hormuz will be open for business again. MSCI's broadest Asia-Pacific index outside Japan has lost gains and...

Oil fell and global stocks rose on Friday, as fresh 'hopes' of a deal between Iran and the U.S. ignited a rally. Meanwhile, investors awaited Elon Musk’s SpaceX's highly anticipated Wall Street debut. European stocks rose more than 1.5% early in trading after strong gains in Asia. However, Wall Street futures indicated a subdued and generally flat opening. Oil futures fell by about 2.5% when U.S. president Donald Trump announced that a peace agreement could be signed this weekend. Meanwhile, Tehran claimed it had not yet made a decision. Trump has said repeatedly since mid-March that a deal to end...

Investors rushed to purchase the latest dips in tech stocks on Tuesday, while oil prices fell after Israel and Iran agreed to?halt their attacks against each other for the time being. In Europe, ASML and Infineon led the way with a 0.7% rise in the 'STOXX 600. U.S. Stock Futures rose between 0.5% and 0.8% as Meta, Eli Lilly, Goldman Sachs and other shares grew in pre-market trade. OpenAI, the maker of ChatGPT, filed a confidential U.S. IPO on Monday, just days before SpaceX made its highly anticipated debut in the market this week. Wall Street CEOs and bankers are...

The world stock market?was facing a second consecutive day of declines on Thursday, as a glitch with the AI rally and renewed fighting between the U.S.A. and Iran dampened?the mood. Meanwhile, oil prices eased following the agreement by Israel and Lebanon to a 'ceasefire. Europe's stock exchanges started the day steady as crude and bond yields fell. However, Wall Street futures pointed lower and Asia had a tough session due to weakness in technology stocks. The stock market in Korea fell as much as 2,6%. In Japan, the Nikkei225, Hong Kong, and Taiwan, all of these markets ended lower between...

A Mozambique executive said that the new law, which requires the state to have a 15% share in all mining ventures, could discourage foreign investment. The'southern African nation' is among the world's leading producers of graphite. This material is used to make batteries for electric cars and energy storage. Mozambique claims it has amended its mining law to "strengthen its management of strategic resource in defence of?national interests", but the Chamber of Mines of the country fears that it may upset?investors. Geert Kok, vice-president of the industry group, said at a mining conference held in Victoria Falls, Zimbabwe, "We regret...

Metals such as lithium, copper and rare earth elements, which are associated with the energy transition, have been the most consistently bullish commodities in recent years. Iron ore miners want to add their product?to the list. Steel demand in South and Southeast Asia is expected to remain robust and will more than offset the decline in production in China and Western Europe. This was the consensus opinion at this week's industry meeting in Singapore. The optimism of iron ore miners was not shared by those who advocated decarbonising the steel industry. They realised that green steel would be extremely expensive...

As part of its efforts to reduce its dependence on China, the Trump administration is stepping up efforts to secure U.S. supplies chains for essential minerals and semiconductors. Federal grants are being converted into equity stakes within companies. The U.S. Department of Commerce awarded $500 million on Wednesday to SandboxAQ, a company backed by Nvidia. This money will be used to develop new materials to make chips. The following companies are linked to the strategic investments push: SANDBOXAQ In exchange for a small stake in the company, the U.S. Commerce Department awarded $500 million to SandboxAQ, a Nvidia-backed company. The...

Energy Transition Minerals hopes to expand in Spain's Galicia Province as it waits for a resolution of the?legal challenges regarding its massive rare earths project on Greenland. Daniel Mamadou said in an interview with? In an interview, Daniel Mamadou told? Mamadou stated that "Galicia has an ambitious plan to revive its mining industry." He added that up to 52 mines will be put out to tender for development. "We think that the Penouta operation can be at the heart of an expansion of Galicia... We might be able to?benefit from economies of size and position." ETM has not provided any...

The Wall Street Journal, citing an individual familiar with the situation, reported that Australia's richest person, mining baron Gina Rinehart has invested a total of more than $1 billion into the $75 billion SpaceX record-breaking IPO. Hancock Prospecting, Rinehart's company, did not confirm the size of their'stake' in Elon Musk SpaceX. She said, however, in a press release: "This investment is significant for Hancock and we are happy to have received a allocation in an IPO that has been extremely popular and well oversubscribed." She praised Musk because he built two of the top 10 companies in the world. "We...

The U.S. and Israel war against?Iran has not affected the price of iron ore, but this relative calm hides a shift in the dynamics of the steel raw material. China purchases about three quarters of the global seaborne iron ore and uses it to feed mills that produce just over half of the world's total steel. Iron ore for the United States is largely sourced by Australia and Brazil. Other producers such as South Africa and Guinea contribute a small amount. This trade bypasses the Strait of Hormuz. The narrow waterway that connects Iran to Oman has been closed off...

The U.S. and Israel war against Iran has not affected the price of iron ore, but this relative calm hides a shift in the?dynamics? for the steel raw material. China purchases about three quarters of the world's seaborne iron ore. It uses it to feed mills that make just over half the steel produced worldwide. Iron ore is mostly sourced from Australia and Brazil. Other producers such as South Africa and Guinea also contribute a small amount. This trade bypasses the Strait of Hormuz. The narrow waterway that connects Iran to Oman has been closed off since February 28, when...

Elliott Investment Management, an activist investor, called on Australia's biggest gold miner Northern Star Resources late on Wednesday to restore shareholder value immediately by re-evaluating its board and conducting a formal strategic assessment. They cited severe underperformance. Elliott Investment Management, an activist investor, announced last week that it had acquired a stake of more than A$1 Billion ($700.80 M) in Northern Star Resources. The investor cited severe underperformance and repeated "operational mistakes", including seven missed outlooks over the past four years and a share value that was vastly below its peers. Elliott's call, which was instrumental in convincing BHP to...

Director?general of mines for Ivory Coast, the West African country, said that gold production is expected to increase from 59.33 tonnes in 2025 to 62 metric tonnes in '2026 as existing?mines expand their operations. Seydoucoulibaly predicted that production would increase to 63 tonnes in 2027, and to around 69 tonnes in 2028. There are currently 14 gold mines operating in the world's leading cocoa producer. He said that the number of gold mines in operation will increase to 15 within two years, with the Kone mine coming online, and 17 in three, when the Doropo mine and the?Tanda Mine come...

Five sources familiar with the matter have confirmed that 'Cargill' is in discussions to sell its metals division to Macquarie Group, as a global trading house wants to concentrate on its core operations of food and agriculture. The five sources all spoke under condition of anonymity as the sale had not yet been announced. They were also not authorized to speak to media. They didn't disclose any further details about the discussions, which may not result in a deal. Cargill did not respond to requests for comments via phone and email. Macquarie has declined to comment. Cargill's metals unit in...

Two sources with knowledge of the matter said that China Mineral Resources Group, a state iron ore buyer, has instructed some?domestic iron ore producers not to discuss a new product with?Australian Fortescue. The demand 'has stoked' speculation that CMRG might impose a purchase ban on certain Fortescue products, as it did in the long-running negotiations with BHP which concluded earlier this summer. Sources who asked to remain anonymous due to the sensitive nature of the matter said that CMRG and Fortescue are in negotiations over a new contract. CMRG didn't immediately respond to a comment request. A Fortescue spokesman said...

Syrah Resource, an Australian company, said that Tesla had withdrawn its notice of intent to terminate the?graphite deal. This ended a long process of negotiation in which both companies extended a deadline for resolution four times. Syrah planned to provide 8,000 metric tonnes of graphite-anode materials over a period of four years from its Vidalia facility in the United States. The 2021 contract covers the state of Louisiana. The Vidalia plant is the only large-scale vertically integrated producer of anode material outside China. This helps reduce U.S. dependence on Chinese supplies that dominate the market. The market is dominated by...