Europe

Federal Reserve quarterly "dot-plot" rate forecasts could soon lose the last projected rate reduction, the so called easing dot. The plot itself may disappear altogether. Markets would then have to determine if Kevin Warsh was really the inflation-hawk he claimed to be. It might still be a surprise to some investors if he's right. Before his first policy meeting, the new Fed chairman is busy setting up his stall. He consults his staff and gets ready for his first policy session. The guidance he receives on policy direction is not going to be easy. The three-month-long war in Iran and...

Investors flock to companies that are driving the AI boom, including gas engine manufacturer Innio. Innio, based in Munich, Germany, has a principal?shareholder - AI Alpine. The company is co-owned by Advent International, and Abu Dhabi Investment Authority. 90 million shares were sold at $27 per share, the highest price of the range indicated by the company. The listing comes against a favorable ?backdrop for AI infrastructure-linked firms, with investors flocking to companies powering the technology's buildout, from electrification ?to supply chain for data centers. Innio will be one of several companies, ranging from software to insurance, that list in...

El Nino could cause cocoa prices to rise by several thousand pounds per metric tonne, according to the chief executive of Barry Callebaut, one of 'the world's leading cocoa processors. El Nino, an 'climatic pattern that can increase temperatures and increase risk of extreme weather conditions, could reduce the yields of crops, including cocoa. This would limit supply and push up prices. Hein Schumacher, CEO of Hein Schumacher, said in a press conference that the prices shouldn't jump as much as they did over the past couple of years. London cocoa futures are trading at PS2,944 per ton ($3,964), down...

Local authorities reported on Tuesday that the Ilsky oil refinery, located in southern Krasnodar, caught fire overnight after an Ukrainian drone attack. This is part of Kyiv’s campaign to starve Russia’s economy of its oil revenues. Kyiv has targeted Russia's energy grid in a systematic effort to limit Moscow’s ability to fund its four-year-old war in Ukraine, at a time when global oil prices are high. The Ukrainian General Staff confirmed that it has'struck again' the Ilsky refinery, stating that?the facility produces fuel for the Russian Army fighting in Ukraine. There was no immediate word on whether the refinery, which...

The Russian President Vladimir Putin will host his fifth conference on wartime economics in St. Petersburg. His government is struggling to find a growth strategy, as the?Ukrainian attacks on the economy are hitting the economy. Businesses also see no end to this war. The $3 trillion economy of Russia, which is heavily dependent on commodities, shrank to 0.2% growth in the first quarter 2026 from 4.9% in 2024. Officials blamed high interest rates, Western sanctions and a strong ruble. The growth rate is expected to be a modest 0.4% in 2018. The Ukrainian drone attacks on Russian refineries, fertiliser factories...

Jarle Roth, a member of the board at Equinor's Norwegian oil group, was voted by its nomination committee as the?new chairman after Jon Erik Reinhardsen announced his decision to step down. Reinhardsen has been the chairman of the board since nearly a decade. He has overseen a push to expand into low-carbon and renewable businesses. This expansion has slowed down in recent years due to rising costs, concerns about energy security and U.S. headwinds. Equinor issued a statement in which it said that Jon Erik Reinhardsen - who has been the chair of the Board since 2017 - would like...

Early trading on Monday saw oil prices rise by more than 2 percent after Israel ordered troops to advance further into Lebanon, in the midst of a battle against Hezbollah, an Iranian-backed militant group. This was despite a ceasefire that had been announced more than six weeks earlier. U.S. crude?futures?rose by $2.37, or 2.71%, to $89.73 per barrel as of 0028 GMT. Brent futures increased $2.16, or 2.37%, to $93.28 per barrel. This increased fighting came just days after the U.S. held Israeli-Lebanon talks in Washington, and dimmed expectations of a U.S.-Iran ceasefire agreement extension. Brent and WTI had both...

Authorities in the southern regions Rostov-Krasnodar reported that Ukrainian drones had struck a tanker overnight at Taganrog, a Russian port. They also reportedly hit an oil depot?in?Armavir. Yury Slyusar, Governor of the Rostov Region, said via Telegram that the fires in Taganrog's port and on the tanker had been put out. No oil spillage was reported. He said that two people were injured. Svetlana kambulova, the mayor of the?city, announced that a local emergency state, which was introduced on May 27th, had been prolonged. The Russian Defence Ministry announced that its forces?had?downed 127 drones over night. Authorities in Armavir in...

Authorities in the southern regions Rostov and Krasnodar reported on Saturday that Ukrainian drones had struck a tanker overnight at the port of Taganrog in Russia and also hit an oil depot in Armavir. Yury Slyusar, Governor of Rostov Region, said via Telegram that the fires in Taganrog (a city with a population of 240,000) and on the tanker had been put out. No oil spillage was reported. He said that two people were injured. Svetlana kambulova, the mayor of the?city, confirmed that a local state of emergency introduced on May 27 had been extended. Authorities in Armavir in Krasnodar,...

Patrick Pouyanne, Chairman and CEO of TotalEnergies, said at the annual general meeting held on Friday that French citizens prefer to have energy companies 'cap fuel prices' at the pump rather than pay a tax on superprofits. He was answering a climate NGO's representative who asked if?the company could do more to help ease the price shocks for consumers. TotalEnergies has been criticized for its massive profits from oil price spikes caused by the war in Iran. French politicians are pushing for a tax on the company to help lower prices. Pouyanne claimed that a survey had revealed that French...

Data analysis revealed on Friday that the production of diesel in Russia dropped?by about 10% in 'May. This was on top of a %10% monthly drop in April, as Ukrainian drones attacked refineries, forcing them to cut back or stop their output. Kyiv is targeting Russia's energy infrastructure in order to reduce the amount of money that Moscow can earn from oil and gas, which it could use to fund its war against Ukraine. The Russian government has been focusing on exporting diesel at a high price. However, this is the time of year when farmers are in high demand....

Jeffrey Schmid, President of the Federal Reserve Bank of Kansas City, said that the already high levels of inflation make it difficult to assume that the current energy shock will only have a temporary effect on prices and can be ignored. "My main concern is the inflation which has been too high and above target for a long time," Schmid stated in a text of a talk to be given before a conference held in Iceland. I place little weight on the assumption that the recent rise in prices will be temporary within a reasonable time frame. As such, "my...

The gold price rose?on Thursday as a result of lower?oil prices and a 'weaker dollar. Investors reassessed renewed expectations regarding a U.S. - Israel war against Iran. As of 0408 GMT, spot gold rose 0.7% to $4,464.69 an ounce. U.S. gold for August delivery rose 0.6% to $4491.70. Dollar eased making greenback bullion prices more affordable for holders other currencies. Gold's gains are still heavily dependent on oil and the dollar. It only rises when they retreat, so it is highly dependent on the positive U.S. Iran headlines to sustain any momentum," said Tim Waterer, Chief Market Analyst at KCM...

Gold prices rose on 'Thursday', supported by lower crude oil prices and a weakened?dollar as investors reassessed renewed expectations of a resolution to U.S.-Israeli conflict with Iran. As of 0218 GMT, spot gold rose 0.7% to $4,461.09 an ounce. U.S. Gold Futures for August Delivery gained 0.5%, to $4487.90. Dollar eased making greenback bullion prices more affordable for holders other currencies. Gold's gains remain largely at the mercy of the dollar and oil. It only rises when they pull back. This makes it dependent on positive U.S. - Iran headlines to sustain momentum, said Tim Waterer. The Trump administration announced...

Steel industry association 'Eurofer' said that EU steel exports have dropped by 34% to the U.S. since Washington raised tariffs from 25% to 50%. Higher duties on derivatives such as motorbikes and washing machines also hit European demand. Steel exports into the U.S. have fallen to 1,94 million metric tonnes in the last three quarters, since the Trump Administration doubled import tariffs for steel and aluminum from 25% to 50% a year earlier. Eurofer reported that in 2025 European Union producers will export 3.4 million tons of products to the United States, up from 4.1 million in 2024 and 4.7...

At a Wednesday briefing, a German government official said that a window of 'dialogue' is opening slowly between Russia and Europe on Ukraine. However, it will likely be months before any talks can begin. The official who requested anonymity said that it was important to create a dialogue format that Europeans would perceive as legitimate. The official also said that it was unclear who would lead these talks. However, there were strong indications that the E3 Group (Germany, France, and Britain) will continue to play a significant role in this regard. The Russian advance has slowed down this year. Ukrainian...

The Finnish?elevator manufacturer Kone announced on Wednesday that its shareholders had approved the planned $34 billion purchase of German rival TK Elevator. This will create the largest lift group in the world. LSEG data shows that the deal announced with Advent International and Cinven in April is one of Europe's?"biggest takeovers" in recent years, and it is also the largest private equity sale in Europe since records began in 1980. Kone said shareholders who controlled 74% of the voting power pre-committed themselves to support the deal. After the shareholders meeting, CEO Philippe Delorme spoke at a press briefing. "Now we...

The price of gold fell on Wednesday as renewed hostilities erupted in the Middle East, pushing crude prices higher, and stalling U.S. Iran talks. Investors awaited upcoming U.S. Economic Data. Gold spot fell by 0.5%, to $4460.36 an ounce, at 0702 GMT. It had risen more than 1% the previous session. U.S. Gold Futures for August Delivery fell 0.7% to $4488.90. Gulf?hostilities erupted again, as the U.S. Military said that Iranian missile attacks against Bahrain, Kuwait, and?other targets in the region were either foiled or failed. U.S. Secretary of state Marco Rubio stated on 'Tuesday' that the negotiating team of...

As renewed hostilities?in?the Middle East pushed?oil?prices higher, and stalled U.S.Iran talks, investors awaited upcoming U.S.economic data. After a rise of more than 1% the previous session, spot gold dropped 0.3%, to $4,471.38 an ounce, by 0511 GMT. U.S. Gold Futures for August Delivery fell 0.5% to $4499.30. The market is examining the possibility that Trump will not push for a resolution to the peace deal with Iran, said Kelvin Wong. "If we see further escalation that could dampen any recovery that gold may have had." Gulf 'hostilities' flared up again on Wednesday. The U.S. Military said that Iranian missile attacks...

As 'investors' watched for a?development?in the Middle East, amid increasing inflation fears, and awaited US economic data to be released on Thursday, gold prices held steady. Gold spot was unchanged at $4485.17 an ounce as of 0319 GMT after rising by over 1% the previous session. U.S. Gold Futures for August Delivery fell 0.1% to $4,513.60. The market is now looking at the possibility that Trump will push for a resolution to a peace agreement, even though Trump wants to see a ceasefire with Iran. Kelvin Wong said. If we see a further increase in the price of gold, it...

Gold prices rose by 1% on Tuesday, boosted by lower U.S. Treasury yields. Meanwhile, oil prices fell, easing fears of rising inflation and interest rates. By 1136 GMT, spot gold had risen 1% to $4,526.7 per ounce. U.S. gold for August delivery rose 1.2% to $4,58.60. After U.S. president Donald Trump announced that talks with Iran are ongoing, oil prices dropped. Lower fuel prices reduce inflation fears and may also help to reduce bets on higher interest rates. Gold is traditionally viewed as a hedge to inflation. However, in an environment of high interest rates it loses its appeal as...

Gold prices rose by more than 1% on Tuesday as a result of lower U.S. Treasury yields. Meanwhile, oil prices fell, easing fears about higher interest rates and inflation. By 0900 GMT, spot gold had risen 1% to $4,525.72 per ounce. U.S. Gold Futures for August Delivery rose 1.1% to $4,556. Oil prices dropped after U.S. president Donald Trump announced that talks with Iran are ongoing. Lower fuel prices reduce inflation fears and bets on higher interest rates. Gold is traditionally viewed as a "hedge" against inflation. However, in an environment of high interest rates it becomes less attractive as...

Gold prices rose on Tuesday due to a decrease in Treasury yields, as well as a partial ceasefire between Hezbollah, Israel and Hezbollah. Investors waited for more information on the U.S. Iran peace talks, despite conflicting reports. Gold spot rose by 1.1% at $4,532.74 an ounce as of 0731 GMT. U.S. Gold Futures for August Delivery gained 1.3%, reaching $4,562.90. Gold prices are rising due to the ceasefire agreement between Hezbollah and Israel, said GoldSilver Central's Managing Director Brian Lan. He added that lower Treasury yields also helped the metal. The yield on the benchmark U.S. Treasury 10-year note has...

Gold prices rose on Tuesday due to a decrease in Treasury yields, as well as a partial ceasefire between Hezbollah, Israel and Hezbollah. Investors awaited more details about the U.S. Iran peace talks, despite conflicting reports. By 0556 GMT, spot gold had risen 0.8% to $4,517.33 per ounce. U.S. gold for August delivery rose 0.9% to $4,47.80. GoldSilver Central's Managing Director Brian Lan said, "It appears that the ceasefire between Israel and Hezbollah has led to a slight increase in gold prices." He added that lower Treasury yields had also helped the metal. The yield on the benchmark U.S. Treasury...