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Austria's OMV 2nd-quarter results exceed forecasts, as the chemicals division soars
The second quarter results of Austrian oil company OMV were in line with expectations, thanks to higher results from the chemicals division. Lower contributions from its fuels and energy divisions were offset by lower results for the energy division. Vienna-based company posted a clean operational result of 1,03 billion euros ($1.18billion) for the second quarterly, which was in line with expectations. The consensus provided by the firm had expected 1.02billion euros. Clean operating results are based on current costs of supply and exclude one-off items, short-term gains or losses and energy inventory holdings. The Borealis Group's contribution to the company's second-quarter clean operating profit of 200 million euros was cited as the reason for this 76% increase. OMV's chemical division is a key growth driver for the company, as it transitions away from fossil fuels. It produces chemicals that are used in car parts, gas and water pipes and medical syringes. ($1 = $0.8747 euros) Reporting by Tristan Veyet, Gdansk. Editing by Christopher Cushing & Mrigank Dhaniwala
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Heidelberg Materials exceeds expectations in the second quarter with cost control
Heidelberg Materials, the second largest cement manufacturer in the world, announced a second-quarter operating income that was better than expected on Thursday. The company cited price adjustments and strict management of costs. The company's poll predicted that the group's RCO would be 1.03 billion euro, but it actually rose to 1.05 billion. Dominik von Achten, CEO of Dominik von Achten, said that our cost-management system has been particularly effective during the second quarter. The company has also confirmed that its full-year RCO forecast is between 3,25 billion and 3,55 billion euros. This is based on the assumption that the demand for construction will stabilise. The CEO said that despite the fact that demand is volatile in certain regions, it is stabilising in core markets. Construction industry sales have been declining in recent years due to high energy and inflation prices. The company responded by saying that it would continue to adhere to strict cost management and make price adjustments in order to meet its 2025 target. Von Achten said, "Our ongoing Transformation Accelerator program is progressing exactly as planned and with additional increases in savings has helped us improve our earnings again." The exchange rate is $1 = 0.8751 euro. (Written by Miranda Murray and edited by Rachel More, Subhranshu Sahu).
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China's iron ore exports continue to rise as storm clouds gather, Russell
Iron ore is the best performing commodity this year, with a price of over $100 per metric ton. This is despite signs that China's steel industry has been slowing down. The Singapore Exchange's most traded iron ore contract ended Wednesday at $101.71 per ton, down from $102.74 at its previous close. The rolling front-month contracts have traded within a narrow range this year. A high of $107.81 per ton was reached on February 12, and a low $93.35 was achieved on July 1. This stability is due to the fact that China has been a major buyer of seaborne products, accounting for 75%. Customs data shows that China imported 592.2 millions tons of goods in the first six months of this year. This is a 3% decrease from the same period last year. The June arrivals reached 105.95 millions tons, which is the highest level since December of last year. Kpler, a commodity analyst, estimates 101.32 millions tons for China's imports in July. Iron ore imports from China have been relatively resilient, and this has helped to keep prices around $100 so far in the year. The market will be watching to see if they can maintain that level, given the signals received from other iron ore and metal sectors. China, which produced just over half the world's total steel production, saw its output fall 9.2% from the same period in 2024 to 83.2 million tons. The first half of 2025 saw a 3% decline in production, to 514.83 millions tons. The outlook for the second part of the year also isn't very rosy, especially if the annual steel production stays around the informal goal of 1 billion tonnes, as it has been for the last five years. China's output of steel is unlikely to grow in the second half this year compared to the first. It may even decline, particularly if exports fall as importers impose higher duties on Chinese products. EXPORTS SLIPPERY Exports of steel product fell 8.5% in June compared to May. However, a good start to the year saw shipments rise 9.2% to 58.15 millions tons. The second half of the year is likely to see a decline in China's exports, which will put further pressure on this sector. Iron ore is becoming increasingly unattractive as China struggles to stabilize its economy and manufacturers are faced with uncertainty due to U.S. Tariffs and fierce domestic competition. SteelHome consultants SteelHome monitor port stockpiles to see if there is any room for iron ore inventory to grow. The week ending July 25 saw a drop of 131.05 millions tons compared to 151.8 million the previous week. Kpler data shows that iron ore imports outside China are also weak. They dropped to 136.56 millions tons in July, their lowest level since April. Kpler predicts that Europe's seaborne imports of iron ore will fall to 6,53 million tonnes in July, marking the third consecutive monthly decline. Japan is the second largest iron ore buyer in the world. Arrivals are expected to reach a record high of 7,73 million tons for July, a three-month-high. According to Kpler, South Korea is expected to import 4,71 million tons of soybeans in July. This is the lowest since February 2017. You like this column? Check out Open Interest, your new essential source of global financial commentary. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, X. These are the views of the columnist, an author for.
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Holcim's first results after North America spinoff beat profit expectations
Holcim announced better than expected recurring operating profits during its second-quarter results on Thursday. This was the first time the building materials manufacturer has reported its North American operations separately. The Swiss manufacturer of cement and roofing products posted an operating profit of 955 millions Swiss Francs ($1.17billion) in the three-month period ending June. The 944 million francs figure from a year ago was up 1.2%, beating consensus expectations of 929 million. Sales dropped 3.8%, to 4,18 billion Swiss francs. This was slightly lower than forecasts of 4,19 billion Swiss francs. The decrease was due to the strength of the Swiss Franc, which lowered the value of sales in other currencies. It also reflected Holcim's divestment from its businesses in Kenya Tanzania Uganda and South Africa. In local currency, net sales are 2.4% higher and operating profit is 9.8% higher. These figures are the first Holcim published since its North American division was separated into Amrize, a separate company. June 23 Holcim's first 2025 guidance as a stand-alone business said that it expects its operating profit to increase by 6-10% in local currency. The company also forecasted a 3-5% increase in sales in local currency. Reporting by John Revill and Editing by Miranda Murray.
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Surprise US stockbuild, Trump tariffs weigh on the market as oil prices remain steady
The price of oil was stable on Thursday, as investors assessed the risks of a supply shortage amid President Donald Trump’s call for a quick resolution to the Ukraine war through additional tariffs. However, a surprising build-up in U.S. crude stock weighed on the prices. Brent crude futures September expiring on Thursday fell 10 cents or 0.1% to $73.14 per barrel at 0345 GMT. Brent's October contract, which is more active, was down 14 cents or 0.2% at $72.33. U.S. West Texas Intermediate Crude for September fell 5 cents or 0.1% to $69.95 per barrel. Both benchmarks closed 1% higher Wednesday. Oil contracts are stuck in a holding pattern, as neither buyers or sellers can muster enough conviction to move prices either higher or lower. This is especially true on the eve of the deadline for the new U.S. Tariffs set for August 1. Sachdeva continued, "On the one hand, Trump’s hawkish remark on Russian oil sanctions continue to support tight-market premiums. On the other hand, a strong dollar, tepid growth indicators globally, and that unexpected EIA increase are capping gains." Trump announced that he would begin imposing measures against Russia, including 100% secondary duties on its trading partners if the country did not end the war in 10-12 days. This was a move up from a 50-day earlier deadline. Toshitaka Takawa, an analyst with Fujitomi Securities, said that the concern about secondary tariffs on countries who import Russian crude oil will restrict supplies continues to drive interest in buying. The U.S. warned China, which is the biggest buyer of Russian crude oil, it would face high tariffs if they continued to buy. The U.S. Treasury Department issued new sanctions Wednesday against over 115 Iran linked individuals, entities, and vessels. This is an indication that the Trump administration has intensified its "maximum-pressure" campaign following the June bombing of Tehran's nuclear sites. The Energy Information Administration reported on Wednesday that U.S. crude inventories increased by 7.7 millions barrels during the week ended July 25, to 426.7million barrels. This was due to lower exports. Analysts expected a draw of 1.3 million barrels. The gasoline stocks dropped by 2.7m barrels to 228,4m barrels. This was far more than expected, which predicted a 600k barrel draw. ? Tazawa, of Fujitomi Securities, said that the U.S. crude stock data revealed a surprising build, but an unexpected gasoline draw confirmed the strong driving season demand. This resulted in a neutral effect on the oil market. (Reporting from Yuka Obayashi, Tokyo; Jeslyn Lerh, Singapore; Editing done by Lincoln Feast.)
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. Airbus Airbus, the European planemaker, posted a second-quarter profit that was higher than expected, thanks to its helicopter and defence units. It also maintained its full-year predictions as it strives to catch up with delayed jetliner delivery. BIC French stationery BIC reported Q2 revenues of 598 millions euros, and is expecting a full-year growth of 0-3%. The company's H1 adjusted EBIT for 2025 was 147 millions euros with a 13.7% margin. BIC's adjusted EBIT margin is expected to be 15.0% in 2025, and its free cashflow to exceed 240 million euro. Elis Elis announced a H1 net profit of 152.5 millions euros and an adjusted EBIT of 358.3 million euros, and confirmed the 2025 financial goals that were communicated in March. Emeis Healthcare operator Emeis announced half-year revenue of 2,91 billion euros. H1 EBITDAR stood at 401 millions euros. The group has confirmed its 2025 guidance. Eramet Eramet, a French mining and metals company, reported a H1 adjusted revenue of 1,528 millions euros with an EBITDA adjusted of 191million euros. FDJ United Gambling company FDJ United has reported revenues for H1 of 1,897 millions euros, and an EBITDA recurring of 441million euros. Klepierre Klepierre increased its outlook for 2025, citing "good performance" during the first half. They now expect a growth of 5% in EBITDA as opposed to 3% before. Renault Renault appointed Francois Provost as its CEO on Wednesday. The company chose a little-known insider for the job to guide it through the growing competition and low demand that led to a profit warning at the beginning of this month. Tikehau Capital Asset Manager Tikehau announced on Wednesday a record net flow of 4 billion euro, an 18% increase year-on-year for the first half of 2025, and a sharp increase in net income. Vinci Vinci reported a H1 revenue figure of 34,852 millions euros and an EBIT of 4140 million euros. The company announced that it will pay an interim dividend per share of 1.05 euro. Guidance remains unchanged. Vusiongroup French tech company Vusiongroup announced H1 sales of 648 million euro on an adjusted basis. This represents a 50% rise compared to H1 2024, and exceeds guidance. The company confirmed its outlook for the full year. Wendel Wendel reported a net profit of 4.3 millions euros for H1 and sales of 4.177.6million euros. The company manages 45 billion euros in assets. The company announced that it would implement a semi-annual intermission of 1.50 euro. Pan-European market data: European Equities speed guide................... FTSE Eurotop 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones ............... Wall Street Report ..... Nikkei 225............. Tokyo report............ London report ........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... Survey of global bourse outlook ......... European Asset Allocation........................ News in a glance Top News ............. Equities.............. Main Oil Report ........... Main currency report..... (Gdansk Newsroom)
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Energean Invests in Croatian Gas Field in Adriatic Sea
British gas producer Energean has taken the final decision to invest in the Irena gas field in the North Adriatic Sea off Croatia, it said on Wednesday.The gas field is located in the Izabela concession, an offshore gas development area in the North Adriatic Sea, which is operated by Edina, a 50-50 joint venture between Energean and Croatian oil and gas company INA–Industrija Nafte.Energean has a 70% working interest in the concession, it said in a statement.The first gas at the Irena gas field is expected to be produced in the first half of 2027. Peak production is estimated to be around 1,400-1,700 barrels of oil equivalent per day, Energean added.The total estimated capital expenditure for the project is 71 million euros ($81 million), with Energean’s share at 50 million euros.($1 = 0.8723 euros)(Reuters)
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Nippon Steel to Supply Material for Vestas Wind Towers
Nippon Steel signed a cooperation memorandum with Denmark's wind turbine maker Vestas Wind Systems on Wednesday to supply steel for Vestas' wind towers for European, Asian and Japanese markets, Japan's industry ministry said.The agreement was part of a broader push by Japan's Ministry of Economy, Trade and Industry (METI) to strengthen the supply chain for wind generation in the country where renewables are key to reducing import costs and dependency on fossil fuels.Offshore wind is a pillar of Japan's renewable energy strategy, but the country remains heavily reliant on imported wind turbines and components.Vestas has a number of contracts in Japan, including for a 375-megawatt offshore wind farm off the coast of Happo-Noshiro in Akita prefecture in northern Japan to be built by Eneos Corp, Iberdrola and Tohoku Electric Power.In June, METI announced a cooperation framework with Siemens Gamesa Renewable Energy for the offshore wind sector. Siemens Gamesa, the wind turbine division of Siemens Energy, agreed a deal with Japanese electronic parts maker TDK for magnets to supply the wind turbines.METI launched a similar framework with GE Vernova, a major U.S. energy equipment company, to promote public-private cooperation in wind power, hydrogen and ammonia among other areas.Japan aims to achieve 45 gigawatts of offshore wind capacity by 2040 to reduce its reliance on imported coal and gas for power generation. But, its plans have stalled despite three major rounds of auctions, due to soaring costs and delays.(Reuters)
Spain and the World Bank launch a debt swap hub to free up development funds
The Spanish Ministry of Economy announced on Tuesday that the World Bank and Spain have partnered to help countries release money for sustainable development projects through debt swaps.
Many countries spend more money on debt servicing than they do on development. As a result, many nations have to come up with creative solutions to fund projects. These can range from funding schools and water sanitation projects to protecting coral reefs.
The Spanish government announced that the Global Hub for Debt Swaps for Development will be launched at the Finance for Development Summit in Seville (southern Spain) and provide countries with financial and technical assistance when they are looking to reallocate funds to projects such as food security and climate adaption.
Over the past year, countries from Barbados to Ivory Coast used debt swap mechanisms to refinance more expensive bonds or loans at lower rates and pledged to use the savings to fund social and environmental projects.
Critics say that such deals are time-consuming, expensive and difficult to replicate. This has prevented a wider adoption of an important tool, according to advocates, to help countries reduce their debt burdens and tackle development issues.
Carlos Cuerpo, Minister of Economy, Trade, and Business in Spain, said: "We've heard the message loud and clear from many countries that we need practical tools to make debt swaps easier, faster, and accessible."
The Hub will be supported by Spain with 3 million euros, and the World Bank will host an "multi-partner trust to finance technical assistance".
Ajay Banaga, World Bank Group president, said: "By turning pilot projects into repeatable solution, we can reduce debt burdens and unlock investment in education, healthcare, and opportunities."
In the past two decades, Spain signed 47 agreements, which resulted in the cancellation of 1,64 billion euro of debt.
The Economy Ministry announced that the government has created a new framework for signing bilateral debt swaps totaling 300 million euro over the next five-year period.
(source: Reuters)