Australia / New Zealand

The global stock market rose on Tuesday, following Wall Street’s overnight gains. Gold reached a record high and Treasury yields dropped as markets waited for details about U.S. president Donald Trump’s reciprocal tariffs. The Japanese yen and Swiss franc held steady as demand for traditional safe-haven assets increased. The risk-sensitive Australian Dollar also rebounded, after the Reserve Bank of Australia kept interest rates unchanged, as expected, while warning of a "pronounced" uncertainty in the global economy. Investors anxiously await April 2, the day Trump has called "Liberation Day", where he promises to reveal a massive tariff plan. The Office of...

Asian stocks dropped on Friday, with South Korea and Japan seeing heavy selling. Meanwhile, gold reached a new record high after the latest tariff salvo by U.S. president Donald Trump raised investor fears of a full-blown trade war. Trump has moved forward with a 25% auto import tariff that will kick in next Monday. This move has drawn fierce criticism from politicians, industry executives and car manufacturers around the world. Trump's escalation of the global war on trade that he started upon regaining power has shocked the markets. Shares of automakers around the world have been hit especially hard. In...

The European stock market fell on Thursday, and Wall Street is expected to open lower as shares of some of the biggest automakers in the world tumbled following U.S. president Donald Trump's announcement on new tariffs for auto imports. Trump announced 25% tariffs for all foreign-made vehicles and auto parts imported to the United States late Wednesday night, causing heavy losses overnight in Japanese and South Korean stock markets. After the bell, U.S. automobile manufacturers lost ground. General Motors shares fell 6% while Ford shares dropped almost 5%. This was due to concerns over the impact of their supply chains....

The U.S. Dollar remained a bit erratic as markets awaited clarification on President Donald Trump’s trade policy in advance of the next round of tariffs. The White House gave traders some hope that they could get some flexibility after Trump announced on Monday that some levies wouldn't be collected by the deadline of April 2, and certain countries would receive breaks. He did not provide any further details. Trump also opened a second front in his trade conflict by directing 25% secondary tariffs to any country buying oil or gas from Venezuela. This initially drove oil prices up, but was...

The financial markets started the week with a mixed bag. U.S. stocks futures rose, but the dollar weakened ahead of the coming week. This was due to data, Chinese earnings as well as the threat of steep U.S. Tariff hikes. S&P 500 Futures rose about 0.6% and Nasdaq100 futures increased 0.8% in the morning Asian session. Japan's Nikkei climbed 0.2% and Hong Kong's Hang Seng rose about 0.2% Early trade saw the euro rise 0.2% to $1.0835, after a slight drop last week. The Turkish lira is on the edge of a cliff in emerging markets as investors are uneasy...

The European share market fell on Wednesday following a Wall Street sell-off overnight. Meanwhile, the dollar rose from its five-month low in anticipation of the Federal Reserve's rate decision later that day. Turkish bonds, stocks and the Turkish lira have all fallen, while Turkish authorities detained The main political rival of President Tayyip Erdoan on Wednesday was his main rival. The pan-European STOXX 600 Index was down by 0.1% last session after having risen for three sessions in a row, thanks to the boost from Germany's overhaul Spending more money on infrastructure and defence is a way to get around...

Asia shares rose Friday, and global markets tried to rebound after a brutal sale earlier in the week. Gold reached a new record as investors became nervous due to the latest escalation in global trade tensions. After Senator Chuck Schumer announced that he would vote for a Republican funding bill to avoid a government shutdown, he signaled his party's support. U.S. Stock Futures were a strong response. Nasdaq futures gained more than 1% in one instance and S&P futures advanced by 0.6%. FTSE Futures also gained 0.3%. DAX futures rose 0.6%. Alvin Tan is the head of Asia FX Strategy...

Investors were less concerned about the impact of U.S. trade policies on global markets as a result of data showing a lower inflation rate in the U.S. The oil prices are aiming for their second consecutive day of gains following data on stockpile increases, while the euro has retreated slightly from its five-month high set the day before on the hopes that a ceasefire would be reached between Ukraine and Russia. The U.S. Department of Labor released data on Wednesday showing that the Consumer Price Index (CPI), which measures prices in the United States, rose 2.8% annually in February. This...

The euro reached a five-month-high on Wednesday, as Ukraine was ready to accept a ceasefire lasting a full month. Meanwhile, stocks were swayed by the back and forth of U.S. tariffs plans and concerns about an economic slowdown in the U.S. European equity futures jumped by 0.8%, and FTSE Futures climbed 0.3%. This was after the U.S. announced it would resume military aid to Ukraine and share intelligence with Ukraine following Kyiv's acceptance of a U.S. proposed ceasefire. Russia has not yet responded. In New York, the euro reached its highest level since October at $1.0947. It remained steady at...

Meg O'Neill, the CEO of Woodside LNG Australia, said on Monday that the company may delay a final decision on the Louisiana plant's liquefied gas project until the second quarter 2025 if talks to sell the half of the project continue. Woodside is looking to sell up to 50% of the project. The company has been reported to be in discussions with several buyers, including Tokyo Gas and Japan's JERA. O'Neill stated in an interview conducted on the sidelines an energy conference held in Houston, "We want confidence in our partners and a sell-down that is adequate." The goal is...

MSCI's global equity gauge fell 1.7% on Monday after hitting a two-month-low earlier in the day. U.S. Bond yields also dropped, as investors became concerned about an economic slowdown following Donald Trump's refusal to rule out a recession related to tariffs. Investors began seeking safety even as early as the Sunday after Trump, in an interview with Fox News, talked about a "period transition". He declined to predict if his tariffs against China and Canada would lead to a U.S. economic recession. Robert Pavlik is a senior portfolio manager with Dakota Wealth, in Fairfield, Connecticut. He cited concerns about tariffs,...

The stock market rose sharply Wednesday, after U.S. president Donald Trump agreed that tariffs on certain vehicles made in North America would be delayed for one month. Meanwhile, the euro reached its highest level in four months versus the U.S. Dollar. The White House stated that the president reached an agreement following a phone call with the CEOs from General Motors, Ford and Stellantis. Tariffs imposed by the United States on imports of goods from Canada, Mexico, and China came into effect on Tuesday. The stock market was volatile in the morning, but then turned sharply upwards by afternoon. "It...

Kazakh gold miner Solidcore said Monday that high gold prices and growth in sales have almost doubled their net profit by 2024. However, they warned of the impact sanctions on concentrate delivery to Russia will have on first-quarter revenues. Solidcore (formerly Polymetal International) is the second largest gold miner in Kazakhstan. It expects to produce 487,000 gold equivalent ounces by 2025. In 2024, the company sold off its Russian assets after U.S. sanctions were imposed on its business in Russia in response to Moscow’s military actions in Ukraine. About 70% of the group's output and 50% of its core earnings...

Six sources involved in the pricing discussions said that the premium for aluminium shipped to Japanese buyers from April to June is $182 per metric ton. This is a 20% drop compared to the current quarter as domestic demand remains weak. This is a lower figure than the $228 paid per ton in January-March and marks the first quarterly decrease in five quarters. However, it is still below the initial offers made by global producers of $245-$260 per ton. Japan is the largest Asian importer for premiums and light metals For primary metal shipments, it agrees to each quarter pay...

The government announced on Monday that Australia's mining exports and energy earnings will fall by 6% during the current financial year, as the prices of iron ore are falling. The Department of Industry stated in its quarterly resource and energy outlook that profits are expected to fall from A$415bn to A$387bn ($243bn) due to the "impact of lower U.S. dollars prices on our energy and resource exports". The decline forecast was less than the 10% predicted in December. The report stated that "further modest declines in earnings are expected over the five-year forecast", with the amount of A$343billion remaining constant...

Gold Road Resources shares reached a new high on Tuesday. This was a day following the rejection of Gold Fields' $2.1billion acquisition offer, which they deemed to be a significant undervaluation. Gold Road Resources stock rose as high as 15.5%, reaching a record-high of A$2.830 in the morning. As of 0145 GMT, it was trading at a 13.9% gain. Gold Fields made an offer to the Australian explorer on Monday after market hours, which it rejected because it was "highly opportunistic". Gold Road's offer would have paid A$3.05 per share ($1.92) to Gold Road shareholders. This year, gold miners have...

Gold Road Resources, a South African company that competes with Gold Fields in the mining industry, has refused a buyout offer of A$3.3 billion (2.07 billion dollars) from its larger competitor. Gold Road's shareholders would have received A$3.05 for each share under Gold Fields offer made earlier in the month. This represents a premium of 24.5% over Monday's closing prices. Gold Fields' offer was to consolidate ownership of the Gruyere Gold Mine in Western Australia. This joint venture between Gold Road and Gold Fields. Gold Fields, a South African gold miner, said that despite subsequent discussions it was disappointed by...

Finances reach two-week high James Hardie's worst session for nearly a full year Losses from miners and consumers By Roushni Nair March 24, 2019 - Australian shares finished flat on Monday, as gains in financials countered losses in mining. Meanwhile, building materials company James Hardie fell after it announced its agreement to purchase U.S. artificial flooring maker AZEK at $8.75 billion. The benchmark S&P/ASX 200 Index edged up by 0.07% to 7,936.9 point. Financials rose by over 1% to their highest level for two weeks. The 'Big Four" banks increased between 0.5% to 2.5%. Henry Jennings is a senior analyst...

Sources in the industry said that Australia's bourse will see a record number secondary listings from mine developers attracted by the country’s pension wealth, regulations and a jurisdiction that is less exposed to U.S. President Donald Trump’s trade wars. Industry figures show that the Australian Securities Exchange (ASX), which is based in Sydney, has been gaining market share among its rivals from Toronto and London, despite the fact that the mining and metals sector must expand by $100 billion per year by 2050 to meet the demand for metals to achieve net-zero emission levels. The overall listing numbers at the...

James Hardie Industries, a fibre-cement manufacturer in the United States, announced that it will acquire AZEK Company for $8.75 billion (including debt) through a cash and share deal. The company is looking to increase growth by offering new products to homeowners. AZEK shareholders receive $26.45 cash and 1.034 James Hardie share for each AZEK shares, bringing the value per share to $56.88, a 37.4% increase over AZEK’s Friday closing price. In a joint press release, Hardie and AZEK stated that the board of directors at AZEK had recommended accepting this offer. AZEK produces wood decking and pergolas, as well as...

Institutional Shareholder Services urged Rio Tinto's shareholders on Tuesday to accept a proposal that would review the dual-listed structure of the miner, amid pressure by activist Palliser. Palliser urged Rio Tinto to merge its two primary listings in London and Sydney into one holding company. The dual-listed structure, Palliser argued, has caused shareholders to lose billions of dollars and is the reason for its stock trading at a lower price than its peers. ISS, a prominent advisory firm in the proxy industry, now recommends that shareholders vote to support Palliser’s non-binding Resolution for the Company to Review the Matter on...

India's Commerce Minister said that a proposed free-trade agreement with New Zealand would significantly strengthen bilateral ties. He suggested that trade could increase 10-fold within ten years. After a ten-year hiatus, India and New Zealand resumed FTA negotiations following a meeting with Prime Minister Narendra Modi, and Christopher Luxon from New Zealand, who was visiting India. At a meeting of business leaders, Trade Minister Piyush Goyal stated that the deal could increase trade ties for farm products, essential minerals, pharmaceuticals and tourism. The talks are being held against the backdrop of rising global trade tensions after U.S. president Donald Trump...

AVZ Minerals, an Australian company, announced on Friday that it had won a court case against the Democratic Republic of Congo and China's Zijin Mining for the rights to the Manono Lithium Mine. It is now in negotiations with U.S. parties about raising funds for the project. The International Court of Arbitration of the International Chamber of Commerce ordered DRC state-owned Cominiere, to pay a fine of 39.1 millions euros ($42.46million) for failing to comply with orders earlier to cease any action terminating its joint enterprise with AVZ. AVZ originally held the permit for the development of the Manono Project,...

The United Arab Emirates exported aluminium to the United States in the first eleven days of March. This was due to buyers stocking up on shipments before U.S. Tariffs went into effect on Wednesday. The UAE has exported 68.560.29 tons of aluminum to the U.S. so far in March before tariffs were imposed, compared with 16,124.88 tons for the whole of March 2024. Exports are at their highest level in nearly two years on a monthly scale. The President Donald Trump has imposed 25% tariffs for all U.S. imports of steel and aluminum with the aim of strengthening domestic production....