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Stocks rise, US yields drop as Fed rate-cut bets increase
On Monday, global stocks rose for the second consecutive session as expectations of a December rate reduction from the U.S. Federal Reserve helped calm recent concerns over stretched valuations in AI while yields on longer-dated U.S. Treasury bonds fell. The stock market dropped last week, with the largest percentage weekly drop since early August. This was due to a lack of optimism about the prospects of an interest rate cut. Other factors included the impact of the prolonged U.S. shutdown on the economy and the lingering concern over high valuations of AI-related firms. Stocks rallied by the end of last week, after New York Fed president John Williams stated that interest rates could fall in the short term. Other policymakers were insistent on borrowing costs remaining the same for the time being. Williams' comments on Monday were echoed by Fed Governor Christopher Waller who stated that data available indicates that the U.S. employment market is still weak enough to warrant a further quarter-point reduction in interest rates. Brian Levitt is the chief global market analyst for Invesco. The market does not expect a recession and there is no robust economic data, but the weaker background is conducive to a decrease in the Fed Funds rate. The U.S. market will be closed for Thanksgiving on Thursday. According to CME's FedWatch Tool the markets are now pricing in a 85.1% probability of a 25 basis point cut at the December meeting. This is up from 42.4% one week ago. The expectation of a rate reduction increased during the session, after San Francisco Federal Reserve Bank president Mary Daly said to the Wall Street Journal that she supported lowering interest rates next month at the central banks meeting. Goldman Sachs' chief economist Jan Hatzius stated in a Sunday note that he anticipates another Fed cut in December. This will be followed by two further cuts in March 2026 and June 2026, "that bring the funds rate up to 3-3.25%." The U.S. stock market closed higher on Wall Street. This was led by an increase of almost 4% in the communications services sector, while Alphabet, parent company of Google, soared more than 6%. The Dow Jones Industrial Average climbed 202.86, or 0.4%, to 46.448.27. The S&P 500 rose 102.09, or 1.55% to 6,705.08, and the Nasdaq Composite soared 598.92, or 2.69 %, to 22872.01. Nasdaq's gains were its largest daily percentage increase since May 12. European stocks closed higher due to expectations of interest rates, while investors were encouraged by signs that progress was being made toward a peace agreement between Ukraine and Russia. MSCI's global stock index rose 11.57 points, or 1.19%. This is the largest daily percentage gain since the 10th of November. STOXX 600, the pan-European index, closed up 0.14%, after initially gaining 0.71%. This week, the U.S. government will release data on retail sales and producer price levels. The eagerly anticipated budget of British finance minister Rachel Reeves is due Wednesday. The U.S., Ukraine and other countries are working on a plan that will end the conflict in Ukraine. They modified an earlier proposal which was seen by Kyiv and Europe as being too favorable to Moscow. This weighed down on oil prices, as a deal would allow more Russian oil to be supplied through easing sanctions. Treasury yields in the United States were lower due to expectations of interest rates. The yield on the benchmark U.S. 10 year notes dropped 2.7 basis points to 4,036%. The auction of two-year notes for $69 billion was a solid success, with demand exceeding the average at 2.68 times that amount. The dollar index, which measures a dollar's value against a basket, fell 0.07%, to 100.18. The euro rose 0.1%, at $1.1522. The pound rose 0.11%, to $1.3106. The markets were also looking for any signs of a possible Japanese intervention with the yen. It fell 0.28% to 156.82 dollars per yen. The Japanese yen is down 1.8% versus the dollar in this month. Takuji aida, an advisor to Prime Minister Sanae Takaichi said on Sunday that Japan could actively intervene in currency markets to mitigate the negative impact of a weakened yen. U.S. crude oil rose 1.34%, to settle at $58,84 per barrel. Brent settled at $63,37 per barrel. Brent was up 1.29% for the day on rising expectations of rate cuts and growing doubts that Russia would achieve a peace agreement with Ukraine.
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Thyssenkrupp nucera sales to decline in 2026 on'more difficult' hydrogen market
Thyssenkrupp Nucera, a maker of electrolysers, forecast a sharply lower sale for 2026. The company said that the market for green hydrogen has become more difficult and investors have continued to defer investment decisions because of this. In a press release, the supplier of electrolysis systems for green hydrogen, which is majority owned by Germany's Thyssenkrupp said it expects sales between 500 and 600 million euros (576 to 691 million dollars) during the fiscal year, which began in October. This represents a 41% drop from the 845 millions euros generated during the previous fiscal year. It is also significantly lower than the 757million euros predicted by LSEG. In a press release issued ahead of the final results for the full year, scheduled for December 17, CEO Werner Ponikwar stated that "the situation on the green hydrogen market became even more difficult in the reporting period." "Restraint in final investment decisions continues. The global economic climate has also deteriorated. "We have taken proactive steps to bridge this phase," he stated without providing any further details. The group's operating forecast ranged from a loss up to 30 million euros, or a break-even at best by 2026 compared to 2 million euros for 2025. This is also below the 9.3 million LSEG estimates. The news caused the Frankfurt-listed shares of the group to fall by 5.5% at 1947 GMT.
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France will provide $150 million to the wine industry for vine uprooting
The French Agriculture Ministry announced on Monday that it would provide additional assistance to the wine industry of 130 million Euros ($149.80 Million) to prevent excessive production. It would also request the European Union's help. The ministry stated that the sector was in a "deteriorating" situation. This is due to the climate change effects, which have affected harvests repeatedly for several years. Also, there has been a decline in the consumption of wine, particularly red wines, and geopolitical tensions. France has subsidised vine removal to combat oversupply due to falling wine consumption. This approach is criticised by producers who claim it makes southern areas more susceptible to wildfires. The French farm ministry announced in September that wine production in France is expected to increase 3% compared to last year, despite the rainy season. However, it will fall 13% compared to the five-year-average due a drought and heatwave in August as well as smaller vine areas in certain key regions. In a statement, Agriculture Minister Annie Genevard stated that "this new and very important financial effort, in spite of a particularly challenging budgetary context, and subject to adoption of a Finance Bill, shows the government's commitment to saving our wine industry on the long-term and enabling it to bounce back",
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Stocks soar, US yields fall as Fed rate-cut bets increase
On Monday, global stocks rose for the second consecutive session as expectations of a December rate reduction from the U.S. Federal Reserve reduced recent concerns over stretched valuations in AI while yields on longer-dated U.S. Treasury bonds eased. The stock market dropped last week, with the largest percentage weekly drop since early August. This was due to market pessimism about the prospects of an interest rate cut and the impact the prolonged U.S. shutdown had on the economy. There were also lingering worries over the high valuations of AI-related firms. Stocks rallied by the end of last week, after New York Fed president John Williams stated that interest rates could fall in the short term. Other policymakers were insistent on borrowing costs remaining the same for the time being. Williams' comments on Monday were echoed by Fed Governor Christopher Waller who stated that data available indicates that the U.S. employment market is still weak enough to warrant a further quarter-point reduction in interest rates. Sam Stovall is the chief investment strategist at CFRA Research, New York. He said that John Williams was the cavalry that came over the ridge when he indicated that a December rate reduction was not off the table. This was encouraging for investors and they decided to plough back into equity. "But, then again, it is a low-volume week. Maybe this is just a temporary relief rally." The U.S. market will be closed for Thanksgiving on Thursday. According to CME's FedWatch Tool the markets are now pricing in a 79.1% probability of a 25 basis point cut at the December meeting. This is up from 42.4% one week ago. Goldman Sachs' chief economist Jan Hatzius stated in a Sunday note that he anticipates a further cut by the Fed, followed two additional moves in March 2026 and June 2026. Wall Street stocks rose in early trading. The sector of communication services saw a nearly 4% surge, while Alphabet, the parent company of Google, jumped roughly 6%. The Dow Jones Industrial Average rose by 277.75, or 0.60 percent, to 46.523.16, while the S&P 500 gained 106.40, or 1.61 percent, to 6,709.39, and the Nasdaq Composite climbed 596.77, or 2.68 percent, to 22869.86. Investors were encouraged by the progress made in the peace agreement between Ukraine and Russia, as well as expectations of higher interest rates. MSCI's index of global stocks rose 11.93 points or 1.23% to 982.69, and was on course for its biggest daily percentage gain in November. The pan-European STOXX 600 ended the session with a 0.14% gain after reaching a maximum of 0.71%. This week, the U.S. government will release data on retail sales and producer price levels. The eagerly anticipated budget of British finance minister Rachel Reeves is due Wednesday. U.S. officials and Ukrainians are working on a plan that will end the conflict with Russia. They modified an earlier proposal, which was seen by Kyiv and Europe as being too favorable to Moscow. This weighed down on oil prices, as a deal would allow more Russian oil to be supplied through a easing of sanctions. Treasury yields in the United States were lower due to expectations of interest rates. The yield on the benchmark 10-year U.S. notes dropped 2.9 basis points, to 4.034%. The dollar index, which measures a dollar's value against a basket, fell 0.07% at 100.17. The euro was down 0.1% to $1.1523. The pound rose 0.11%, to $1.3109. The markets were also looking for any signs of possible Japanese intervention. The yen fell 0.3% to 156.82 dollars per yen. The Japanese yen is down 1.8% versus the dollar in this month. Takuji aida, an advisor to Prime Minister Sanae Takaichi said on Sunday that Japan could actively intervene in currency markets to mitigate the negative impact of a weakening yen. U.S. crude oil rose by 1.29%, to $58.81 per barrel. Brent was up to $63.34 a barrel. This is a 1.25% increase on the day. Investors are now more focused on the possibility of a U.S. rate cut than the prospects of a Ukrainian peace agreement.
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Gold gains over 1% as Fed cuts are hoped for, US data is in focus
Gold prices increased by more than 1% Monday. This was due to the growing expectation of a Federal Reserve rate cut in December and fresh U.S. data that could provide further insight into monetary policy. By 01:43 pm EST (1843 GMT), spot gold was up 1.2% to $4,111.86 an ounce. U.S. Gold Futures for December Delivery settled 0.4% higher, at $4094.2 per ounce. Bart Melek is the head of commodity strategy at TD Securities. John Williams, the New York Fed president, said that U.S. rates could drop "in the short term" without jeopardizing the Fed's goal of inflation and while protecting against a decline in the employment market. The CME FedWatch tool revealed on Monday that the odds of a rate reduction next month are 79%. Gold is a non-yielding investment that tends to perform well during low interest rate environments and in times of geopolitical or economic instability. "We are waiting for the data, and we expect that it could be weaker." Melek said that the inflation rate is probably not high and all signs point to gold performing well. Investors will be watching for important economic data due this week, such as U.S. retail sale, unemployment claims, and producer prices. The U.S., Ukraine and other countries continued their talks Monday in order to come up with a plan that would end the Russian war in Ukraine. This was after they agreed to revise a previous U.S. offer, which many considered to be too favorable to Moscow. In a recent note, Rhona O’Connell, an expert at StoneX, stated that "gold is likely to continue to be in demand, but we believe it will remain range-bound between $4,000 and $3,100." Silver spot rose 1.7%, to $50.84 an ounce. Platinum increased 2.3%, to $1.545.91. Palladium gained 1.7%, to $1.398.21. (Reporting from Bengaluru by Pablo Sinha; Additional reporting by Sarah Qureshi, Editing by Nick Zieminski and Matthew Lewis)
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Barrick and Mali Government agree to settle gold mine dispute
Barrick Mining announced on Monday that it had reached a settlement with the Mali government regarding all their disputes regarding the Loulo-Gounkoto Gold Mining Complex. Shares of the Toronto-listed firm rose by nearly 3%. The Friday report stated that Barrick had agreed in principle to settle the dispute with Mali. In a press release, the Canadian miner announced that it would drop its arbitration case against Mali before the World Bank dispute tribunal. Mali, in turn, will drop all charges and free four employees who are currently in jail and will return operational control to Barrick. Mali's miner ministry didn't respond to our request for comment. Barrick shares rose by as much as 2,6% in Toronto. Two years ago, the two sides were in a dispute over the new mining code of Mali. The code gives Mali an increased share of gold miner's revenue as gold prices reach record highs. Mali's government, led by the military, seized three metric tons (three metric tons) of gold earlier this year from Barrick's mining operation and appointed a temporary administrator to run it. Barrick wrote off $1 billion of revenue from the mine, and its former CEO Mark Bristow was also fired. Loulo-Gounkoto mine was one of Barrick's most profitable operations when it was in its control. It generated almost $900,000,000 in revenue by 2024.
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Stocks surge and US yields on longer terms dip as Fed rate-cut bets increase
Global stocks rose for a second day on Monday, as expectations of a rate cut by the U.S. Federal Reserve in December helped ease recent concerns over stretched valuations within the AI sector. Meanwhile, longer-dated U.S. Treasury Yields also declined. The stock market dropped last week, with the largest percentage weekly drop since early August. Market pessimism was fueled by concerns about the impact of an extended U.S. Government shutdown on the economy and the high valuations of AI-related firms. The equities market rallied by the end of last week, after New York Fed president John Williams stated that interest rates could fall in the short term. Other policymakers however insisted that borrowing costs should stay the same for the time being. Williams' comments have been echoed by Fed Governor Christopher Waller who stated that data available indicates that the U.S. employment market is still weak enough to warrant a further quarter-point reduction in interest rates. The dominant theme is uncertainty. "We're going remain in a choppy environment until December 10 when we receive the Fed's announcement and all the commentary around it," said Lilian Chovin. Lilian Chovin is the head of asset allocation for Coutts. According to CME's FedWatch Tool the markets are now pricing in a probability of 78.9% that a 25 basis point cut will be made at the December meeting. This is up from 42.4% one week ago. Wall Street's early trading saw gains for the U.S. stock market, led by the sector of communication services, as Alphabet, parent company of Google, jumped over 5%. The Dow Jones Industrial Average gained 147.39, or 0.32 %, to 46.394.72, while the S&P 500 rose 64.62, or 0.97% to 6,667.61, and the Nasdaq Composite grew by 393.85, or 1.73 %, to 22657.20. Investors were encouraged by the signs of progress towards a peace agreement between Ukraine and Russia. European stocks were also up on expectations for interest rates. MSCI's global stock index rose 7.89 points or 0.81% to 978.65, and is on course for its biggest percentage gain daily since November 10. The pan-European STOXX 600 Index, meanwhile was 0.42% higher after having gained as much as 0.7%. This week, the U.S. government will resume its release of data after the government shutdown ended. The British budget of finance minister Rachel Reeves is due Wednesday. After agreeing to change an earlier proposal, which Kyiv and Europe deemed too favorable to Moscow, the U.S.-Ukraine team continued to work on a plan that would end the war. This weighed down on oil prices as a deal would allow more Russian oil to be supplied through an easing in sanctions. The yields on longer-dated U.S. Treasury notes were lower than expected. The yield on the benchmark U.S. 10 year notes dropped 0.9 basis points to 4.054%. The dollar index, which measures a dollar's value against a basket, dropped 0.01%, to 100.23. In terms of currencies, the euro rose 0.09%, at $1.1521. The pound fell by 0.06%, to $1.3086. The markets were also looking for any signs of a possible Japanese intervention. The yen fell by 0.48% to 157.11 dollars per yen. This month, the Japanese yen is down by 1.9% against dollar. Takuji Aida, an advisor to Prime Minister Sanae Takaichi said on Sunday, that Japan could actively intervene in currency markets to mitigate the negative impact of a weakening yen.
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Gold prices rise on higher Fed rate cuts bets and a weaker dollar
Gold prices increased on Monday due to a growing expectation of a Federal Reserve rate cut in the next month, and a weaker US dollar. As of 10:53 am EST (1553 GMT), spot gold was up by 0.6% to $4,091.45 an ounce. U.S. Gold Futures for December Delivery rose by 0.3%, to $4.089.80 an ounce. Dollar-priced gold is now more affordable to holders of other currencies, as the dollar index has slipped lower. Bart Melek is the head of commodity strategy at TD Securities. Melek continued, "A combination (of lower expectations) and a stronger U.S. Dollar has helped gold in the current environment." John Williams, the New York Fed president, said that U.S. rates could drop "in the short term" without jeopardizing the Fed's goal of inflation and while protecting against a decline in the jobs market. The CME FedWatch tool revealed that 79% of bets on a rate reduction next month are in place. Gold is a non-yielding investment that tends to perform well in low interest rate environments and when there is geopolitical unrest. Investors will be watching for important economic data, which was delayed by the government shutdown. These include U.S. retail sale, unemployment claims, and producer prices, due this week. The U.S., Ukraine and other countries continued their talks Monday in order to come up with a plan that would end Russia's conflict in Ukraine. This was after the U.S. agreed to revise a previous proposal, which many considered too favorable to Moscow. In a recent note, Rhona O’Connell, an expert at StoneX, stated that "gold is likely to continue catching a bid, but we believe it will remain range-bound between $4,000 and $3,100." Silver spot rose 0.8% per ounce to $50.41. Platinum rose 2.1%, to $1.542.75, and palladium increased 1.3%, to $1.392.36. (Reporting and editing by Nick Zieminski, Matthew Lewis, and Pablo Sinha from Bengaluru)
Barrick settles dispute with Mali Government over Loulo Gounkoto Mining Complex
Barrick Mining, a Canadian mining company, has signed an agreement with the Mali government to settle all disputes relating to the Loulo-Gounkoto Gold Mining Complex until 2023.
The dispute centered on the implementation of the new Mali mining codes that increases taxes and gives a larger share of gold mines to the government.
The miner - formerly known as Barrick Gold - said that it would drop its arbitration case with Mali before the World Bank dispute tribunal. Mali, in return, will drop all charges and release employees against Barrick, its affiliates and the Canadian miner.
The following is a timeline of events:
Mali's military government, led by the July 14th 2023 proposal to change its mining law would increase interest from state and local governments in projects by 35%.
September 27, 2024 - Mali's military authorities arrest four miner employees for alleged financial crime.
Barrick is owed about 300 billion CFA (512 million dollars) by the Mali government.
Mali arrests Barrick's former CEO Mark Bristow on December 5, 2024, accusing him money laundering and of violating financial regulations.
Barrick threatens its Mali operations to be suspended on December 16, 2024.
Barrick files arbitration against Mali with the International Centre for Settlement of Investment Disputes on December 18, 2024
Mali's military government seizes three metric tons of gold from Barrick mines on January 13, 2025
Barrick suspends Mali operations on January 14, 2025
Barrick signs an agreement with the Mali Government on February 19, 2025 to resolve a dispute that has lasted almost two years over the mining assets of the West African nation. Deal fails.
15 April 2025 - Malian authorities close Barrick's Bamako offices over unpaid taxes. The government also threatens to put the Loulo Gounkoto mine, which has been suspended since last year, under temporary administration unless the mine reopens or tax payments are made.
Mark Bristow, CEO of Barrick, says that the company spends $15 million per month to run its Mali mine. He does not know what the Mali government has done with the gold it seized from Barrick.
Barrick's 2025 production forecast has been revised downwards by 11 June 2025.
A court has placed the Loulo-Gounkoto Mine in Mali under state control on 16 June 2025.
23 June 2025: Malian Tax officials reopen Barrick’s Bamako Office under a court appointed administrator
8 July 2025: After nearly six months, the complex administrator plans to resume operations by selling one metric tonne of gold in its storeroom.
Barrick's request to release four employees who were arrested in November 2025 has been rejected by a Mali court. Barrick denies the allegations made against the employees.
Barrick names Mark Hill, a veteran executive, as interim CEO and president following the abrupt resignation of Mark Bristow on September 29, 2025.
Four people who were familiar with the situation say that Bristow's management of Barrick's flagship Mali asset was the final straw for the board, which led to a change in the leadership.
Two sources say that operations at Barrick’s Loulo underground mine in Mali will begin on October 15th, four months after the court appointed provisional administration gained control of site.
The World Bank's arbitration body has rejected a request from Barrick to expedite the case it is pursuing in international arbitration against Mali.
Two sources with knowledge of the situation say that on November 21, 2025, Barrick Mining and Mali’s government reached a verbal deal to settle their dispute regarding the mining complex.
Barrick Mining and the Mali government reach an agreement on November 24, 2025 to settle all disputes regarding the mining complex. Reporting by Pranav Mathur, Varun Shay and Vallari Shrivastava from Bengaluru. Editing by Arun K.
(source: Reuters)