Australia / New Zealand

On Friday, global equity markets fell and Treasury yields increased as the markets neared the end of a turbulent period marked by the efforts of central banks around the globe to curb inflation. Wall Street's three main indexes fell, with real estate, materials and utilities stocks leading the declines. The Dow and S&P 500 were both on course to lose money for the week, but the Nasdaq would post a gain. The Dow Jones Industrial Average dropped 0.4%. The S&P 500 declined 0.2%. And the Nasdaq Composite decreased 0.1%. Stocks in Europe dropped 1.1%, and they were heading for a...

As markets neared the end of the week, marked by an international push to curb inflation, global shares and bonds fell on Friday. Japan's much-telegraphed increase failed to support the yen. This week's monetary policy was the "prime" focus, as the Middle East war is approaching the seven-month mark and shows few signs of ending. Oil prices are still above $100 per barrel, fueling inflation concerns. After the Bank of Japan increased rates to a record high of 1.25 percent, the Japanese currency was on its way to the biggest daily decline since mid-February. The dollar rose 1% to reach...

The dollar held steady on Friday, as investors reacted to global policymakers stepping up their efforts to curb inflation. The Bank of Japan also joined the fray by delivering an expected rate increase that left the 'yen soft. This week, the focus is on monetary policy responses as the six-month long war in the Middle East continues to show no signs of ending. Oil prices remain above $100 per barrel while inflation worries are stoked around the world. In response to the BOJ's decision to raise interest rates to an all-time high of 1.25 percent to avoid the risk of...

The dollar held steady on Friday, as investors reacted to global policymakers' stepped-up efforts to curb inflation. A drop in oil prices improved sentiment ahead of an expected Bank of Japan rate hike. This week, the focus is on monetary policy responses as the six-month long war in the Middle East continues to show no signs of ending. Oil prices remain above $100 a barrel and inflation fears are rife around the world. Brent crude futures fell 1% to $103.7 a barrel on hopes that oil could be supplied from other sources. However, concerns remained about strikes between Saudi Arabia...

The dollar climbed to a seven-week peak on Thursday after the U.S. Federal Reserve raised interest rates for the first time in more than three year and oil prices dropped. This helped ease a global bond selloff which has been rumbling for months. Bank of England is now the focus, which will likely leave UK rates unchanged later. However, all eyes are on the BoE to see if it indicates a possible November rate hike given the pressures of high energy prices. Bank of Japan is expected to raise interest rates this Friday. The main European share markets opened 0.2%...

Investors bet that the Federal Reserve will finally get ahead of inflation by delivering the 'first rate increase in over three years' and calming down a global bond saleoff which had sent long-term yields soaring. The U.S. Dollar hit a seven week high against major peers. This was backed by an increase in short-term Treasury rates as markets increased bets that the Fed might have to raise rates again. A move by December is fully priced in. This was a negative for commodities as oil prices fell. All eyes are now on the Bank of England. It is expected that...

Investors bet that the Federal Reserve will finally get ahead of inflation by delivering its 'first rate hike in more than three years, and calm a global bond saleoff which had sent long term yields soaring. The dollar soared to a seven-week high against its major peers, backed by a jump in short-term Treasury yields as markets increased their bets that the Fed may have to raise rates again. A move by December was fully priced in. The dollar reached a seven-week-high against major peers. This was backed by a surge in short-term Treasury rates as markets increased bets that...

The global stock market rose on Wednesday, as the recent rise in oil and government bond yields paused before a crucial U.S. Federal Reserve rate decision later that day. MSCI's global equity index rose 0.1% after falling in the two previous sessions. A four-day losing streak was broken by an index of Asia-Pacific stocks outside Japan, which rose 0.6%. The STOXX Europe 600 index, which is the pan-European benchmark, opened 0.3% higher. Futures that track the U.S. S&P 500 index also rose, after the benchmark index had closed lower for the second consecutive session on Tuesday. The yield on the...

Asian shares struggled on Tuesday, as investors considered Middle East tensions. Industry figures also called for a halt in AI development. Meanwhile, higher oil prices and bond yields heightened caution ahead of 'key' central bank meetings taking place in the U.S. Yemen's Houthis, who are aligned with Iran, launched a new offensive on Saudi Arabia Monday. Riyadh had blamed Iran-backed fighters based in Iraq for an assault on the east-west oil pipeline of the kingdom that could disrupt up to 4% global supply. Gulf Arab states have also delayed planned talks with Iran. Brent crude was up by 1.21% at...

On Monday, the Asian share markets fell as supply concerns caused oil to spike again. Investors braced themselves for interest rate hikes this week in both Japan and the United States. Brent oil prices rose 3% after new attacks on Saudi Arabia, and on ships in the Gulf. This came as nerves were tested following an attack on Saudi Arabia's oil pipelines and the Houthis' advance into Yemen. The meeting between Iran and Gulf Arab States, which was scheduled to take place in Oman on Monday, for the purpose of discussing a deal about opening the Strait of Hormuz has...

On Monday, Asian share markets fell as oil prices spiked again due to supply concerns. Investors were also bracing for interest rate hikes this week in the U.S. and Japan. Brent rose 3% as new strikes against Saudi Arabia and?ships?in the Gulf tested nerves. This was after an attack on Saudi oil pipelines and an advance of Yemen's Houthis, which threatened to worsen wartime disruptions to global energy supply. The meeting between Iran and Gulf Arab States, which was scheduled to take place in Oman on Monday, for the purpose of discussing a deal regarding opening the Strait of Hormuz...

On Friday, global bond yields reached new highs while sharemarkets fell. Soaring oil prices exacerbated inflation risk and investors were scrambling to factor in further policy 'tightening' from central banks around the world. Brent crude futures hit a four-month record of $109.97 per barrel on Friday. Oil flow through the Strait of Hormuz was restricted as Iran and the U.S. traded blows, while the Houthis, who are aligned with Iran, took control of Yemen's Mocha port, threatening Saudi Arabian oil exports to the Red Sea. Analysts at RBC Capital Markets said that the Houthi advance has gravely threatened maritime traffic...

Australian shares closed Monday with little change as gains in financials offset losses in commodity stocks. Investors were cautious due to expectations of a rate hike by the central bank next week. The S&P/ASX 200 closed flat at 8,731,90 points after closing the same on Friday, and losing 0.1% over the past week. Michele Bullock warned on Friday that the Reserve Bank of Australia's Governor, Michele Bullock, said that the rise in oil prices and AI boom are posing upside risks to inflation. Commonwealth Bank of Australia - and ANZ - have revised their forecasts. ANZ has penciled in a...

Solvay, a Belgian chemicals company, is currently in discussions with One Investment Management regarding a possible strategic partnership for its rare earths division. Solvay announced this on Tuesday. OneIM, led by former SoftBank executive Rajeev Mitra, would gain exposure to 'rare earths processing. This deal would complement its existing investments in this sector, which is dominated primarily by China. Sources with knowledge of the situation said that Solvay has been in talks with OneIM about Solvay’s rare earths operations since March. Rare earth minerals play a crucial role in the energy transition and electronics industries. The West is looking to...

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...