Australia / New Zealand

Oil prices fell and were headed towards a weekly decline as traders awaited clarification on the efforts to reopen Strait of Hormuz, and extend an?U.S.Iran ceasefire. United States and Iran reportedly agreed to lift shipping restrictions and extend their ceasefire, according to sources. However, U.S. president Donald Trump is yet to approve this deal. Iranian state media also said that it was not finalized. Oil futures dropped around 2%, and are on course for their biggest weekly drop since early April. MSCI's global stocks index rose by 0.4%, reaching a new record high. Chipmakers led the gains after Dell's upgraded...

Oil futures saw their biggest weekly drop in almost two months on Friday as traders awaited details about a possible deal to reopen the Strait of Hormuz, and extend U.S. and Iran's ceasefire. U.S. sources claim that Iran and the U.S. have reached an agreement on lifting shipping restrictions and extending their ceasefire. However, President Donald Trump is yet to sign off and Iranian state media has not confirmed this. S&P 500 Futures were steady in the Asia session after the index closed at a record high overnight. Brent crude futures dropped about $1 per barrel to $92.69, a drop...

The Australian Competition Watchdog announced on Friday it had taken legal action against Amazon Australia, alleging that the local unit violated product safety labelling laws in relation to child's backpacks. According to the Australian Competition and Consumer Commission, the company has been accused of selling "Unicorn Toddler Backpacks", which did not meet the safety standards required for button batteries. The ACCC claims that backpacks were held in Amazon Commercial Services fulfilment centers in Australia between June 22,?and November 1,?2022 without the required warning label on either the?products or their outer packaging. ACCC said in a statement that "Unicorn Toddler Backpacks",...

The central bankers have raised inflation concerns Japan's Nikkei reaches record after Wall Street gains due to AI optimism New Zealand Dollar falls ahead of expected central bank rate hike By Rocky Swift Asian stocks rose on Wednesday, while oil prices remained high as markets waited for signs that the shaky truce between the United States of America and Iran would be extended. Brent crude traded at a price of?nearly $100?per barrel and the dollar held onto gains made in the previous session, after Iran claimed that the U.S. violated the ceasefire. New Zealand's currency remained lower in anticipation of...

European stock indexes lost some of their recent gains on Tuesday, and oil prices rose as a result. Investors' hopes that a U.S. peace deal with Iran was imminent were dampened by?new U.S. attacks in southern Iran. The market sentiment has improved over the last week, as traders have bet on the de-escalation of the U.S. and Israel war against Iran. This conflict began late February and has caused severe disruptions in Middle East oil supplies. They revised this view after the U.S. announced on Monday that it had conducted what it called defensive attacks in southern Iran. U.S. Secretary...

The European stock market was set to post its biggest weekly gain since early April. Meanwhile, U.S. stocks were on track to make their eighth consecutive weekly advance, despite the lingering uncertainty surrounding U.S. and Iran peace talks. Iran's Foreign Minister met Pakistan's Interior Minister on Friday to discuss plans to end the 'U.S. - Israeli war', Iranian media reported. Tehran and Washington are still at odds about Tehran's uranium stocks and control over the Strait of Hormuz. Investors largely ignored the economic impact of the Middle East conflict, and the energy crisis. The S&P 500 is on track to...

Investors pondered a few'signs of progress' in the Iran peace talks on Thursday, as they weighed up possible?signs?. Nvidia shares fell despite its earnings exceeding expectations. The STOXX 600 Index in Europe was up by 0.2% after falling earlier in the day. The S&P 500 futures and the Nasdaq tech-focused futures were little changed. After three days of losses, the S&P 500 gained 1.1% after oil prices dropped after U.S. president Donald Trump announced that Iran talks are in their final stages. However, he also said he may restart attacks. Overnight, the rally continued in Asia with MSCI's broadest Asia-Pacific...

Stocks rose on Thursday as some vessels resumed their passage through the Strait of Hormuz. Meanwhile, forecast-beating Nvidia results and a suspended workers' strike by Samsung Electronics boosted?shares of the chipmakers. The MSCI broadest Asia-Pacific share index outside Japan rose 1.2% to end a four-day losing streak. Meanwhile, the KOSPI soared over 4%. Brent crude futures rose 0.7% in Asia to $105.76 per barrel, retracing their declines following the passage of three supertankers through the Strait on Wednesday. Iran also consolidated control over the waterway. Wall Street saw the S&P500 rise 1.1% and the Nasdaq Composite rally 1.5%, after three...

U.S. Treasury Yields and Oil Prices fell on Wednesday, as hope increased that the U.S. was close to a deal with Iran in order to end the Middle East war. Major?stock indices also rose before the closely-watched results from Nvidia. Investors continue to watch headlines in search of signs that the U.S. is making progress with Iran on ending the war. Donald Trump, the U.S. president, said that negotiations with Iran are in their final stages. He also warned of more attacks if Iran does not agree to a deal. Trump said that the United States would wait for a...

Investors were waiting for Nvidia's earnings to find out if the world's most valuable company could help markets cope with higher borrowing costs. Investors increased their bets on the Federal Reserve raising interest rates in 2019. The sell-off continued overnight. Overnight, the benchmark 10-year Treasury rate hit a 16 month high of 4,687%, while 30-year Treasury rates climbed to 5,198%. These levels have not been seen since 2007. Brent crude futures fell 0.2% on Wednesday but still remained above $100 a barrel. The Strait of Hormuz remains effectively closed, and U.S. president Donald Trump has said that he may need...

The global stock market was mixed on Tuesday, and bond markets were stable after U.S. president Donald Trump postponed an attack against Iran. He also said that there was a high chance of a nuclear deal. This sent oil prices down. Trump announced on Monday that he had halted the planned resumption in attacks against Iran, to give time to negotiate a peace deal after Tehran sent Washington a new proposal. The U.S. has a "very high chance" of reaching an agreement with Iran that would prevent Tehran from getting a nuclear bomb. European stocks gained 0.7% on Monday, regaining...

The global stock and bond market stabilized on Tuesday after U.S. president Donald Trump postponed an attack against Iran and stated that there was a high chance of a nuclear agreement, which sent oil prices lower. Trump announced on Monday that he has halted the?planned? resumption? of attacks against Iran in order to give time to negotiate a peace deal. This comes after Tehran sent Washington a new proposal for peace. The U.S. has a "very high chance" of reaching an agreement with Iran that would prevent Tehran from getting a nuclear bomb. Investors were cautious after a drone strike...

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...

The disparity between China's low steel production and its robust imports of?iron ore is still evident, but it is now starting to appear as a structural shift instead of a temporary dislocation. China, which accounts for just over half the world's total steel production, produced 86.63 metric tons of steel in April. This is a 2.8% drop from the same period in 2025 and the lowest April figure since 2018. Steel production for the first four months of the year was 331.12 millions tons, down 4.1% from last year's same period. According to official statistics, however, iron ore exports increased...

China has blocked Japan from obtaining several rare earths, heavy materials, and other minerals for at least four months. This coincides with a dispute over Taiwan between the two nations, indicating that Beijing is using its control of critical minerals to gain diplomatic leverage. Japan is the second largest producer of rare-earth magnets outside of China, but, like the rest of the globe, it is largely dependent on Beijing to import certain heavy rare earths, which are used in magnets, aerospace, and defence as well as gallium. Chinese customs data show that since December, Chinese exports to Japan of rare...

Arafura Rare Earths announced on Thursday that it has approved the development of its $1.6 billion Nolans Project in the 'Australian Northern Territory', which will 'become 'the third-largest rare earths operations of the country by the end of this decade. The project is designed to deliver 4,440 metric tons of neodymium-praseodymium (NdPr) oxide annually, targeting markets outside China amid growing demand for rare earths used in electric vehicles and wind turbines. Arafura has secured financing commitments with the export credit agencies in the United States, Canada and Germany, as well as global trading houses and manufacturers. This is because Western...

The Australian share market closed Monday at its lowest level in over a month, with mining and gold stocks dragging it down. This was due to a fall in commodity prices. Meanwhile, the stagnation of Middle East peace negotiations boosted crude prices, fueling inflation fears. The benchmark S&P/ASX 200 ended 1.5% lower, at 8,505.30 point, its lowest close since March 31, As commodity prices fell, the number of miners dropped 2.8% to a new low. BHP and Rio Tinto fell between 2.8% to 3.6%. Gold miners fell 4% while real estate dropped about 3%, and financials fell 0.3%. Santos and...

Australian stocks were flat on Thursday. Financials recovered from a four-day decline on budget-driven worries about mortgages, and gains in heavyweight miners, such as a record high by BHP Group, provided a little support. As of 0103 GMT the S&P/ASX 200 Index?held its position at?8,621.8, but was on course for its fifth consecutive day of losses if current momentum continues. Financial stocks recovered from early losses and snapped a four session losing streak. They gained 0.2%. The financial sub-index fell by nearly 1% earlier in the day and reached its lowest level since 15 May 2025. The drop was primarily...

Australian shares fell on Wednesday as investors sold Commonwealth Bank and other lending institutions. The?top?bank's missed profit heightened fears that Canberra's proposed curbs to tax incentives for property-investors could slow down mortgage demand. The S&P/ASX 200 closed 0.5% lower, at 8,630.40. This brings its overall decline to 2.8% in the last four sessions. Australia's biggest mortgage lender Commonwealth Bank plunged 10.4%, posting its weakest ever session. The bank erased a market value of?A$29.93 billion ($21.66billion) after an earnings missed and new Middle East-related provisions bleakened the outlook for the banking industry. The financials index is down 4% at a five-month...

Maxime Vandersmissen, Arctial's chief commercial officer, said on Tuesday that the smelter, owned by Rio Tinto, in Finland could help boost production in Europe and produce hot metal in the second half 2029. The project is still three years from production, but it is already in the spotlight, as the Iran War has made aluminium more scarce in Europe, which is heavily dependent on imports. Vandersmissen, speaking at the CRU World Aluminium Conference in London said that the project aims to produce 610,000 metric tonnes of aluminium per year. Vandersmissen stated that this would increase the European production level by...

A court in Australia on Tuesday ordered Fortescue, a miner, to pay A$150,000,000 ($108,000,000) as compensation to an Indigenous group for the cultural damage caused by mining iron ore on their land without their consent. The decision represents 'one of the biggest ever?payouts? in Australia's recent history, brought about by native title laws that recognise Indigenous rights and interest on certain parcels. Stephen Burley, a Federal Court of Australia judge, ruled that Fortescue had caused "significant harm" to the cultural inheritance of the Yindjibarndi People of Western Australia. He concluded that the miner should pay A$150,000,000 in compensation for cultural...

Australian shares fell on Friday, wiping?gains made in the previous two?sessions. The market was flooded with broad-based sales after the latest exchange of fire between Iran and the United States rattled the sentiment. The S&P/ASX 200 ended the week 1.5% lower, at 8,744.40. The benchmark index rose 0.2% in the past week despite the drop, but it still remained below the record highs set early in March. Investors concluded a week that saw the Reserve Bank of Australia raise its interest rates a third time in this year. The U.S. escalated hostilities with Iran, and the mood deteriorated over night....

The head of Argentina's mining chamber said Thursday that the flagship investment incentive program for large projects, which currently has a 2027 deadline, should be extended. He argued the program was key to unlocking billions in planned investments. Roberto Cacciola said that the Incentive Regime for Large Investments, or RIGI, has helped to attract capital into the mining sector. The RIGI offers tax, currency, and legal stability advantages for projects valued at more than $200,000,000. Cacciola suggested that the scheme be expanded to include smaller projects which are important in creating jobs and supporting local supply chains. Cacciola told the...

Palliser Capital, an activist?investor, has acquired a 2% share in Britain's Autotrader Group. A?source with knowledge of the matter said on Thursday. This comes at a time where artificial intelligence is putting pressure on the automotive market. Autotrader shares rose 4.2% to 521.2 pence each at 0921 GMT. This outperformed the benchmark FTSE-100, which fell 0.7%. Source: The fund manager's stake will likely be between 1% to 2%. According to a calculation based on Autotrader's closing stock price, the stake could be worth as much as 81.2 million pounds (110.6 million dollars). Palliser had previously called for change at several...