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Wayne Cole gives us a look at what the day will bring for European and global markets. Asian stocks are mostly higher following the Wall Street rally on Friday, but European share futures are down as oil prices rise amid confusion about the Strait of Hormuz. Treasury Secretary Scott Bessent claimed over the weekend that the'strait' would become "irrelevant", as oil will eventually be redirected via pipelines. This gave analysts the impression that the White House is trying to wash their hands of this whole matter. Iran announced on Sunday that it was nearing completion of a deal to define...

China is doing all the heavy lifting to reduce crude oil demand in?Asia as a way to compensate for the reduced shipments of Middle East oil due the the Iran?war. The world's largest oil importer reported arriving 8.41 million barrels a day (bpd), up from a near decade-low of 7.12 mln in June, but still 24.3% less than July last year. When June and July imports combined, this gives a?average of 7.78 million bpd over the last two months. The average for the three-month period ending in February was 11,99 million bpd. This is 4,21 million bpd less. The United...

The global stock market is on track for its biggest weekly gain since the beginning of May, after a weaker than expected U.S. job report eased concerns about an imminent Federal Reserve interest rate hike. Meanwhile, strong earnings and AI enthusiasm overshadowed concerns about the Iran War. U.S. stock prices opened higher on the Friday, and Treasury yields dropped. This reflects a waning expectation that the Fed would raise rates next month. The Nasdaq gained 0.7% during early trading, while the dollar dropped. This gave the Japanese yen some relief. The yen rose to 157.20 against the dollar, after previously...

Are you looking for inspiration? Weekend Reads?reports on what the Open Interest team is reading, watching and listening to every Friday. This week, the picks focus on America's reliance upon Chinese goods, U.S.?overheating?, geothermal energy, green steel, and risks emanating from bond market. We're reading this 'weekend'... MIKE DOLAN. ROI Finance & Markets columnist. Mary Lovely and Christine Wan from Washington's Peterson Institute discuss how U.S. Policymakers have not made much progress in reducing America’s dependency on Chinese goods and services despite many years of effort. Direct trade declined sharply over the seven-year period from 2010 to 2024. However, direct...

The major stock indexes were mixed on Wednesday. SpaceX shares and Advanced Micro Devices declined, and U.S. oil prices eased as signs of progress towards a peace agreement with Iran emerged. Two?regional? officials and a senior Iranian source said that a proposed agreement between Iran, Oman and the United States to end the five-month war between Iran and America would give Tehran control of ships entering the Gulf via the Strait of Hormuz. This is one of the largest concessions to Iran yet. U.S. West Texas Intermediate Futures dropped 55 cents or 0.73% to $75.22 per barrel. Brent crude futures...

The Asian stock market jumped Wednesday as Wall Street reached record highs on the back of robust earnings, and a renewed interest in tech. Meanwhile, oil prices and bond yields fell on hopes of progress regarding opening of the Strait of Hormuz. Japan's Nikkei rose 3.5% as more evidence of the huge sums spent on 'AI?capex was revealed, while South Korea maintained its wild swings and rose 4.3%. The broadest MSCI index of Asia-Pacific stocks outside Japan rose by 2.3% while blue chips in China gained 1.5%. The rally in tech came despite AMD's setback. AMD fell 8.8% following hours,...

The Asian stock market soared?on a Wednesday, as Wall Street reached record highs on the back of robust earnings and a renewed interest in tech. Meanwhile, hopes of progress regarding?opening of the Strait of Hormuz drove down oil prices and bonds yields. South Korea's Nikkei added 4.1% to its wild swings. MSCI's broadest Asia-Pacific share index outside Japan rose by 2.4% while Chinese blue chip stocks gained 0.7%. The rally in tech came despite AMD's setback. AMD fell 8.8% following hours, as its earnings exceeded Street expectations but fell short of the sky-high investor expectations. SpaceX, a satellite company and...

European stocks rose?alongside U.S. Futures on Tuesday. However, a rebound in the oil price underscored market scepticism about the U.S. -Iran War?being resolved quickly by diplomacy. The yen eased slightly but still held onto most of its gains after the joint intervention by Tokyo and Washington last week to support the currency. The latest attack in the Strait of Hormuz highlighted the risks for global energy flows. Brent futures increased 1.4% to $84.95 per barrel, after falling 7% the previous session and reaching a three-week high. Europe's STOXX600.STOXX rose 0.55% with tech stocks up 1.7%. Nasdaq Futures rose 0.67%, while...

Asian markets were volatile on Tuesday as investors assessed whether the strong earnings of U.S. corporations would help AI-related stocks to rise in the region. Oil prices also rose after the attacks on shipping along the Strait of Hormuz. MSCI's broadest Asia-Pacific share index outside Japan fell 0.1% as volatile South Korean stocks fluctuated between gains and losses. The last gain was 1.2%. Japan's Nikkei225 slid 0.2% higher, while S&P500 e-minis futures were up 0.3%. Societe Generale's analysts stated in a report that "the AI trade has matured". Investors are increasingly focused on?the sustainability? of margins after 2026, they stated....

Asian markets opened with modest gains as investors followed a rally around the world. Oil prices remained near their lowest levels for weeks, as the U.S. - Iran conflict remained stalemated. MSCI's broadest index of Asia-Pacific stocks outside Japan was up 0.1%. South Korean shares rallied as much as 2.1 percent. Japan's Nikkei fell 0.3% while S&P500 e-minis futures grew 0.1%. The Dow Jones Industrial Average closed at a record high overnight after data showed that U.S. Manufacturing Activity increased to its highest level in over four years in July. Chris Weston is the head of research for Pepperstone Group,...

What is important in the U.S. and international markets today by Mike Dolan Editor-at-Large of Finance and Markets The yen strengthened further on Monday, as the U.S. government and Japanese government confirmed their first joint interventions since 2011 to "prop up" the ailing currency. The timing and the impact of this move will be closely examined. Below, I'll go into more detail about that. Listen to the latest episode of the Morning Bid podcast. We discuss the 'historic' intervention, U.S. earnings growth, and the latest news on Iran. Subscribe to the Morning Bid daily podcast and hear journalists discussing the...

The decision of the core members to?increase crude oil production quotas in September is easy to dismiss as a meaningless act, given the disruptions caused by the Iran conflict. As long as the Strait of Hormuz is largely closed, and as long as there are no solutions to the threats to the Bab el-Mandeb 'waterway, it will be difficult for the 'oil-exporting groups to deliver what they have committed to. Saudi Arabia, Russia and Kuwait are among the OPEC+ members who have agreed to voluntary cuts in output. Algeria, Kazakhstan, Kazakhstan, Algeria, Kuwait, Algeria and Oman also agreed. The United...

Aluminium prices rose on Monday for the sixth consecutive day, reaching their highest level in nearly seven weeks, as exchange inventories continue to deplete. Open outcry activity on the benchmark?three-month aluminum at the?London Metal Exchange increased by?1.2% to $3,320 per metric tonne. The price of aluminium on the London Metal Exchange had earlier reached $3,336.50 - its highest level since June 23. Ewa Mnthey, ING commodities analyst, said that the recent rally of copper, which reached a six-month peak last week, has reinforced a bullish sentiment in industrial metals. She added that "Aluminium fundamentals are still supportive with low exchange...

Iron ore prices eased on Monday as?China's disappointing factory gate data fueled concern over the?demand prospects for the?steelmaking?ingredient. However, a strike in Australia at a major export center curbed some decline. The daytime trading price of the most traded iron ore contract at China's Dalian Commodity Exchange was 713.5 Yuan ($105.79). As of 0820 GMT the benchmark September iron ore traded on the Singapore Exchange was down 0.26% at $94.75 per ton. This is well below a psychologically important level of $100, which has been in place for 15 trading days. China's producer prices inflation eased more -than-expected in July,...

The Australian government has tightened restrictions on two Northern Minerals shareholders who were ordered to 'divest their shares over national security concerns,' the?miner reported. This is a further scrutiny of Chinese investment in the rare-earths developer. Northern Minerals has developed the Browns Range Heavy Rare Earths Project in Western Australia. Western governments are looking to reduce their reliance on China as a source of these minerals. The Australian Treasurer Jim Chalmers, ordered in May that six offshore shareholders of Northern Minerals divest all their shares over concerns that Chinese-linked groups were seeking to control the rare earths miner. Chalmers said...

The price of copper remained above $14,000 on Friday, as tighter inventories and?supply worries put the metal in a position to have its best week in nearly three months. Traders?awaited the news from the?mining panel convened by the?U.S. Donald Trump, President of the United States. In official open outcry, benchmark three-month copper at the London Metal Exchange fell 0.1% to $14.090 per metric ton. The copper price was set to end the week with a 2.2% gain, its biggest weekly gain since the week of?May 8th. LME copper reached a six-month peak of $14,369.50 after reports that the Democratic Republic...

After a recent rally of three sessions, copper prices fell on Thursday, after reaching a new '12-week high. The price increase dampened demand from the top consumer, China, and investors were taking profits. This was offset by tightening supply outside of the United States. Benchmark?copper? on the LME dropped 0.35% at $7,060.50 per metric ton by 0700 GMT after reaching $14,178 an hour earlier, its highest level since May 13. The most active copper contract on SHFE closed at 107330 yuan (15,903.33) per ton after briefly reaching the highest price since May 2014. Yangshan Copper Premium Since July 22, a...

The price of copper rose to its highest level in 12 weeks on Thursday, as the uncertainty surrounding tariffs continued to drive more metals into the United States. Benchmark 'three-month copper' on the LME dipped 0.08% to $14,099.50 per metric tonne as of 0325 GMT after touching $14,178 early in trade, a level not seen since May 13. The most active copper contract on SHFE rose 0.38% to 107,580 Yuan ($15.944.39) per tonne, after briefly reaching the highest level since May 14, at 108.030 yuan. The LME Cash Copper Contract Premium over the Three-Month Contract On Thursday, the spread increased...

The price of copper soared to $14,000 on Tuesday. This was a two-month high, driven by the dwindling inventory outside the U.S. Benchmark 'three-month copper' on the London Metal Exchange rose above $14,000 after the release of LME stock data at 8am GMT. It jumped as high as 1.3%, to $14,053 per metric ton. This is its highest level since June 2. As of 09:00 GMT, the metal was trading at $14.024.50 up by 1.1%. The data showed orders to remove another 7,225 tonnes of copper from LME storages The remaining inventory is 94,200 tonnes, barely enough to cover a...

The copper price rose on Tuesday as a result of falling inventories. Oil prices also remained stable, despite conflicting statements from the U.S.A. and Iran that 'clouded the prospects for a diplomatic solution to the long-running war. As of 0700 GMT the benchmark 'three-month copper' on the London Metal Exchange was up by 0.69% at $13,952 per metric ton. The most traded copper contract on Shanghai Futures Exchange rose by 0.86% and closed daytime trading for 106,650 Yuan ($15794.62) per ton. Copper stocks at LME registered warehouses As of Friday, inventories had fallen to 244,025 tonnes from about 400,000 tons...

Holcim Group, a Swiss building materials company, announced on Sunday that it intends to sell its Philippines operations to Huaxin Building Materials of China in a deal worth at least $807,000,000. Holcim is selling an initial 68% stake at $527 million. The remainder will be sold in the following three to five year period for a price minimum of $280million. Holcim stated that this would result in an overall valuation $807 million. However, the figure may rise "based upon incremental value creation over?this time period". This sale is Holcim's largest divestment, since the $1 billion deal it made with Huaxin...

Holcim Group, a Swiss building materials company, announced on Sunday that it intends to sell its Philippines business to China’s Huaxin Building Materials. The deal could generate at least $807 million. Holcim is selling a 68% initial stake at $527 million. The remainder will be sold in the next 3 to 5 years for $290 million. Holcim stated that the total valuation would be $807 million. However, this figure could increase "based on incremental values created during?this time period". The money raised will be used for?large acquisitions as well as further investments in Holcim’s existing business. After spinning off their...

The copper price?firmed up on Friday, and was set to post a'monthly gain' as the market digested an 'easier dollar and a greater improvement in risk appetite?in equity markets. Benchmark?copper? on the London Metal Exchange rose 0.27% to $13,840.5 per metric ton at 0740 GMT and was on course for a month-long gain of 3.5%. The most traded copper contract at the Shanghai Futures Exchange increased 0.66%, to 105460 yuan, or $15,632.04, a 3% increase since the beginning of the month. The dollar tumbled overnight, making copper and other greenback-denominated commodities ?cheaper for buyers using other currencies, offering support. Dr...

The copper price rose on Friday, and was set to gain a month-long increase as the market absorbed a lower dollar and continued supply pressure. Benchmark three-month?copper?on London Metal Exchange?was flat at $13,804.5 per?metric?ton?by 0300 GMT and was on course for a 3.25 % gain for the entire month. The most traded copper contract at the Shanghai Futures Exchange increased 0.71%, to 105.510 yuan (15,635.74) per ton. This is a 2.75 percent increase since the beginning of the month. Overnight, the?dollar fell making commodities cheaper for buyers who use other currencies. Copper prices have been supported by the falling stocks,...