Europe

Compass Gas e Energia SA is set to launch its initial 'public offering' on a Thursday, ending a nearly 5-year IPO stalemate on Brazil’s B3 Stock Exchange due to high interest rates. According to two sources familiar with the transaction, the offering of 89.3 millions shares by the existing shareholders of the gas distributor could generate around 3 billion Brazilian reais (about 600 million dollars). One person said that by early afternoon on Thursday, the orders had nearly tripled the size of the initial?offering. The second source said that despite the high demand, pricing may be at the lower end,...

Fatih Bibil, the head of the International Energy Agency said that the 'war' in Iran continues to drain'millions' of barrels of 'oil every day. Brent oil futures fluctuated between $96 and $102 per barrel on Thursday, following mixed reports of an interim deal to end the war and possibly reopen Strait of Hormuz. This key trade chokepoint has been closed since the conflict began at the end of Feb. Birol warned that such volatility is likely to continue, and that the supply would return gradually once the war ended. He said that oil security would still be a major issue....

Compass Gas e Energia SA is expected to price its initial public offer on Thursday. This will end a 'nearly 5-year drought' of IPOs in Brazil, caused by high interest rates. According to two people familiarized with the transaction, the sale of 89.3 millions shares by the existing shareholders of the natural-gas distributor could generate around 3 billion Reis ($600 Million). One of the people said that by early afternoon on Thursday, the orders were almost three times larger than the offer. The second source, however, added that despite the high demand, pricing could be at the lower end, at...

European shares fell on 'Thursday, after a steep rise?in the prior session. Investors analyzed?progress toward a U.S. Iran peace deal which pushed crude oil prices sharply down. STOXX 600, the pan-European index of stocks, ended up 1.1% lower than it was on Wednesday after gaining more than 2%. The majority of regional bourses in France, Germany, and Britain also declined. European energy stocks fell 2.5% when crude oil dropped below $100 per barrel. Shell fell 2.9%, despite exceeding first-quarter profits estimates and increasing its dividend by 5%. Sources and officials reported that oil prices were under pressure when?the U.S. &...

Serbia won't allow a newly formed 'local company' to buy a majority stake in its Russian owned NIS oil firm, said President Aleksandar Vucic on Thursday. KFT Senator Treasury G.T.7 Two LLC, run by Ranko Mimovic and founded in August last year, said Wednesday it had offered to buy a 51.16 percent stake?in NIS for 2.35 billion euros. The bid would be a challenge for Hungary's MOL, which is negotiating to buy a majority stake of NIS. This purchase is a condition that the United States must meet before lifting sanctions against the company operating Serbia's only oil refinery. Vucic,...

Moeve, the Spanish energy company, reported on Thursday a 7% rise in its first-quarter earnings. The company cited strong performance across its core businesses and soaring profits in its energy division due to the Iran War which caused a spike in oil and fuel prices globally. The?company that was formerly Cepsa, one of Spain's biggest refiners, booked a net profit of 147 million euros ($173million) in the third quarter. This compares to 138 million euro a year earlier. In a press release, CEO MaartenWetselaar stated that "Moeve delivered a solid quarter of results shaped by heightened geopolitical uncertainties?and volatile oil...

Solvay, a Belgian chemicals company, said it would pass on higher energy and transportation costs to its customers in response to the Iran War. Solvay says it will assess how the temporary closure of its Saudi Arabian-based joint venture peroxides would affect its business during the second quarter. It adds that the overall impact is limited. Vara Research had predicted a core profit of 220 millions euros, but the comments accompanying them showed that it fell to 219 million euros (257.37 dollars), a 12.4% decline. Solvay's Middle East sales are less than 5%, but since mid-March, production has been stopped...

Lanxess reported on Thursday a'muted' quarterly core profit, which was? broadly?in line with the market expectations. However, it said that March saw a slight improvement as customers began to turn to European chemical manufacturers to avoid any supply risks. The German specialty chemicals company stated that "a persistently weak economy, geopolitical uncertainty and last year's divestments" characterized the first quarter of 2026. It said that cheaper raw materials and pressure from?Asia on prices in certain segments also drove down selling prices. Since March, we've seen a slight improvement in the momentum. Due to the Middle East conflict, many Asian competitors'...

Pirelli announced on Wednesday that it would begin producing Cyber Tyres for the United States after Italy curbed its influence with Sinochem, the Chinese investor of the premium tyre manufacturer, in an effort to aid the company's expansion across the Atlantic. Italy's government resolved a dispute last month over Sinochem’s stake in Pirelli by using "golden powers". Sinochem, Pirelli's largest shareholder with a stake of 34.1%, was the cause of the dispute. Sinochem fears that Pirelli may fall foul of U.S. regulations restricting use of Chinese technology within?the automotive sector. Pirelli announced that it would manufacture its connected Cyber Tyre...

Guinea and Emirates Global Aluminium have reached an agreement to settle a long-running disagreement over the seizure its local operations, allowing the resumption bauxite shipment. The two companies released separate statements on the matter. The deal is subject to certain conditions. Guinea will pay an upfront sum to Abu?Dhabi based miner, in exchange for the transfer of Guinea Alumina Corporation assets to state-owned Nimba Mining Company. Financial details were not revealed. Guinea, the top producer of aluminium feedstock in the world, took over GAC's Bauxite Operations last year after a disagreement about plans to build an Alumina Refinery. The assets...

The company reported on Wednesday a higher-than-expected increase in profits for the first quarter, boosted by a record production and the fact that oil and gas prices rose in March because of the Middle East war. Equinor's poll of 23 analysts predicted $9.0 billion for the Norwegian energy group. This quarter, we?deliver exceptional performance in the field and record-high output... "We present strong financial results, combined with higher prices," said?CEO Anders Opedal in a press release. Equinor has maintained its decision to reduce share buybacks this year by 70%, despite the possibility of windfall profits resulting from Middle East supply...

Portugal's Finance Minister Joaquim Mirando Sarmento announced on Tuesday that the government would ask parliament for approval to impose a "windfall tax" on energy companies who benefited from an increase in energy prices due to the Iran War. Portugal, Germany, Italy and Spain, as well as Austria, wrote to the European Commission in April to ask for a similar tax on a "European" level. However, Brussels let individual countries decide. Miranda Sarmento, the Portuguese Minister of Foreign Affairs, said that Portugal would "seek to achieve the highest level of coordination possible" with other countries. Miranda Sarmento, speaking to reporters in...

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...

The Russian property agency Rosimushchestvo announced 'on Thursday that it will 'launch an auction for the sale of a 67.2% stake in gold producer Uzhuralzoloto, which the state confiscated last. The agency stated that the stake was worth 140.44 billion Russian roubles, or $1.88 billion. The agency will accept applications up until May 15 with results due by May 18. It was announced that the total value of assets and the starting bid price would be 162.02 billion rubles, with a 2% bidding increment and a 20% deposit required by auction participants. A Russian court ruled in July 2025 that...

In 2024, a new mine producing silver, barite, and lead opened in the mountainous central Bosnian town of Vares. After decades of economic devastation, new roads, houses, and cafes were built. The population of the small town Vares, in central Bosnia, grew with new workers and residents. Blood tests in recent months have shown that more than 300 residents living near the mine are exposed to lead. Some of these levels are high, alarming the locals and putting the future of the town into question. Four Bosnian environmental agencies have filed criminal charges with the Zenica Doboj cantonal prosecutor's office...

On 'Wednesday', copper prices reached their highest level in almost two weeks on hopes that Iran and the U.S. are nearing a deal to end the Middle East?war. The benchmark three-month 'copper' on the London Metal Exchange increased 2.1% to $13,410 per metric ton during official open-outcry trade for a third consecutive session. It had earlier reached its highest level since April 23, at $13,462. Sources said that the United States and Iran were close to an agreement over a memorandum of understanding (MOU) of one page in order to end the Gulf War. Robert Montefusco, broker at?Sucden financial, said...

The Group of Seven Trade Ministers met in Paris on Wednesday to find common ground for securing vital?mineral? supplies that are dominated primarily by China. However, the United States' recent tariff threats against European Union made cars could strain unity. As ministers prepare to hold a summit of leaders in mid-June, Nicolas Forissier, the French Foreign Trade Minister said that France wanted critical minerals supplies among its most tangible deliverables. He said: "I think we'll make concrete progress in rare earths, critical minerals and supply chain security. We won't be held hostage to certain countries." There was a broad consensus...

The London Court of Appeal has ruled that BHP can't appeal against the UK ruling that found it liable for the 2015 collapse of a dam in southeastern Brazil. In November, London's High Court ruled BHP was legally responsible for the collapse of the Fundao dam in Mariana, southeastern Brazil, ?which was owned and operated by Samarco, a joint venture ?between Australia-headquartered BHP and Brazilian company Vale. Brazil's worst ecological disaster unleashed a toxic sludge wave that left 19 dead, thousands homeless, inundated?forests, and polluted?the length of the Doce River. The High Court refused BHP permission to appeal the ruling...

Nickel prices reached $20,000 for the first time since about two years as U.S. president?Donald Trump hinted at a possible peace agreement that would end the war with Iran. The benchmark three-month copper price on the London Metal Exchange increased 1.1% to $13,284.50 a metric ton at 0804 GMT. This is its highest level since March 27. The Shanghai Futures Exchange's most traded copper contract was up 1.6% to 102,660 Yuan ($15.029.98) a ton. The Chinese markets resumed trading Wednesday after the May Day holiday. LME nickel rose 1.4% to $19 915 per ton, after reaching $20,000, the last time...

Gold prices rose?more?than 2% on Tuesday after the?U.S. President Donald Trump suggested that a possible deal could be made with Iran. This sent the dollar and crude prices lower, as inflation fears waned. As of 0811 GMT, spot gold rose 2.7% to $4680.91 an ounce. This is the highest it has been since April 28. U.S. Gold Futures for June Delivery rose?2.7%, to $4693.20. U.S. president Donald Trump announced on Tuesday that he will temporarily pause a mission to help escort vessels through the Strait of Hormuz. He cited progress towards a comprehensive deal with Iran. Iran's foreign minister said...

The new CEO Berta De Pablos Barbier is struggling to deal with the weak consumer sentiment that has been affecting the U.S., Europe and the Middle East due to the "Iran War". Pandora is under pressure due to high U.S. tariffs on imports and an increase in the price of silver. The Danish company sells silver charms bracelets starting at $70, made in its factories in Thailand. The company's poll of analysts predicted a first-quarter revenue of 7.089 billion crowns, which sent the shares of Pandora up by 9% at?early trade. Sales in Europe, Middle East, and Africa declined by...

The gold price rose by 2% Wednesday due to a weaker dollar. Meanwhile, lower oil prices eased concerns about inflation and interest rates that would be higher for longer, in anticipation of an agreement between the U.S. and Iran. As of 0415 GMT, spot gold was up by 2% to $4,647.09 an ounce. U.S. Gold Futures for June Delivery rose 2% to $4 658. U.S. president Donald Trump said Tuesday that he will temporarily halt an operation to help escort vessels through the Strait of Hormuz. He cited progress towards a comprehensive deal with Iran. The gold price rose as...

Prices of copper rebounded on Wednesday after they hit a?three-week low, as investors benefited from lower prices. Meanwhile, U.S. prices rose on speculations about possible tariffs on the metal. Benchmark 'three-month copper at the London Metal Exchange increased 0.4% to $13,053 a metric ton, in open-outcry official trading after reaching its lowest level since March 13 at $12 780. Shanghai Futures Exchange was closed on Labour Day, which has a pronounced impact on trading. Since the Iran War, copper prices have been on the decline. The slowing of economic growth may affect demand for metals used in construction and electric...

Gold prices rose on Tuesday, but gains were modest as crude oil prices remained high and inflation fears remained alive. After a drop of more than 2% on Monday, spot gold increased 0.3% by 0417 GMT to $4,533.40 an ounce. U.S. gold futures for delivery in June rose 0.2% to $4,542.50. Ilya Spirak, the head of global macro at Tastylive, said that prices seem to have digested a little after the return of "war trade" across markets on Monday. Gains were however capped by the rise in Treasury "yields" and the dollar as an increase in crude oil stoked inflation...