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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 or Benelux. ECB/VILLEROY : According to the Italian newspaper La Stampa, France's central bank chief Francoisvilleroy de Galhau, the?European Central Bank aims to stop any inflation caused by energy. However, it is still too early to talk about dates for interest rate increases. France/Israel: According to a German Foreign Office statement, the foreign ministers from Germany, France, Italy, and Britain have urged Israeli lawmakers to drop a bill that would allow the death penalty to be imposed in Israel. HAL TRUST HAL Trust, a Dutch investment company, reported a net profit of 1.597 billion euro for the full year 2025 and proposed a dividend of 3,50 euros per share. JENSEN-GROUP: The Belgian industrial laundries equipment manufacturer Jensen-Group has announced a restructuring. TOTALENERGIES SEC: French energy company TotalEnergies has signed a Nuclear Production Allocation (CAPN) contract with EDF, for a period of 12 years starting on January 1, 2028. 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............ FTSE 100 ............... 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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Brent crude set to record a record month
Investors piled into a long-running Gulf conflict, which has already seen oil prices rise to a record level. This will lead to a surge in inflation and a risk of recession for much of the world. Pakistan said it was preparing "meaningful discussions" to end the conflict over Iran within the next few days. This is despite the fact that Tehran has accused Washington of preparing a land attack as the U.S. Military builds up its forces in the area. Financial Times, late Sunday, quoted Donald Trump as saying that the U.S. might seize Kharg Island, where Iran exports most of its oil from the Persian Gulf. But also, a ceasefire may come soon. Yemen's Houthis, who are also Iran-aligned, launched their first attack on Israel since the beginning of the conflict. "Iran has little incentive to give up its control of the Strait of Hormuz and the ability to disrupt the global energy and food market, as well as the capability to maintain missile and drone capabilities, which is why the U.S. escalates," said Madison Cartwright?, senior geo-economics analysts at Commonwealth Bank of Australia. We expect the conflict to last at least until June. The risk is that it could extend into a longer war. Prices for plastic, aluminium, fertilizer, oil, gas and plastic have all risen due to the clampdown in the Strait, as well as fuel for planes, ships and other transportation. All prices for food, pharmaceuticals, and petrochemicals are set to increase. This is bad news for Asia as much of that region depends on Middle East energy. Japan's Nikkei lost another 3.4%, taking the total losses in March to almost 13%. South Korea's stock market fell 3.0% Monday, while Chinese blue-chips lost 0.2%. MSCI's broadest Asia-Pacific share index outside Japan fell?1.3%. S&P 500 and Nasdaq Futures have pared some of their losses, making it a little easier. EUROSTOXX Futures and DAX Futures both dropped 0.7% in Europe while FTSE Futures? dropped 0.4%. Brent crude rose by 2.0% to $114.90 per barrel. This brings its gains for the month up to 59%, and surpasses the surge that followed Iraq's attack on Kuwait in 1990. U.S. crude rose 1.8% to $101,39, a 51% increase in a month. Bruce Kasman warned that the longer the Strait remains shut, the more the buffer supply will be reduced, which could lead to dramatic increases in crude oil, gas, and other commodities. The scenario of the Strait remaining closed for another month is consistent with rising oil prices towards $150/bbl, and constraints on energy consumption by industrial consumers. As payrolls loom, the FED is in focus. Investors have revised up their expectations for interest rates almost everywhere due to the inflationary threat. The Federal Reserve is expected to tighten interest rates by 12 basis points this year. This compares with 50 basis point cuts just a month earlier. John Williams, the influential chief of the New York Fed and Fed chair, will also be speaking at an event on Monday. This week, data on U.S. manufacturing, retail sales and payrolls will give an update on the state of the economy. After February's shocking 92,000-job drop, jobs are expected to rise by 55,000 in the month of March. Unemployment remains at 4.4%. The European Union is expected to release figures on Tuesday showing that annual inflation jumped to 2.7% from 1.9% in March, but core prices are expected to be stable. Energy shocks, coupled with increased borrowing costs, and a need to increase defence spending have slammed sovereign bond markets. Ten-year U.S. Treasury yields have increased by 44 basis points this month, to 4.407%. Two-year yields also rose 50 basis points. The U.S. Dollar is the most liquid currency in the world. The?U.S. The?U.S. The dollar dropped 0.3% to 159.74 Japanese yen, despite warnings from the Japanese authorities. The dollar has dropped 0.3% to 159.74 yen after warnings of possible intervention from the Japanese authorities. The euro was at $1.1513. This is not too far from the March low of $1.1409. Gold was flat on commodity markets at $4,493 per ounce, despite the fact that it has received little support from investors as a safe-haven or a hedge against inflation. (Reporting and editing by Edmund Klamann; Muralikumar Aantharaman, Thomas Derpinghaus and Wayne Cole)
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Gold prices rise on the back of a weaker dollar but Fed rate cuts dimmed hopes limit gold's rise
Gold prices rose on Monday, as the dollar softened. However, gains were limited by an increase in energy costs that fueled inflation fears and dimmed expectations of interest rate reductions from the U.S. Federal Reserve this year. As of 0330 GMT, spot gold increased 0.3% to $4505.86 an ounce. U.S. Gold Futures for April Delivery gained?0.3% at $4,535.80. Dollar-denominated goods became more affordable to holders of currencies other than the U.S. Nicholas Frappell is the global head of institutional market at ABC Refinery. He said that gold's price action was a response to oversold behavior and could be a reversal in recent?declines. Price action in the coming week will confirm this. Given the rapid news flow, it is easy to expect volatility. Brent crude oil prices rose above $115 per barrel after the Yemeni Houthis launched an attack on Israel at the weekend. This widened the war and exacerbated inflation problems. The contract has risen 60% in March so far, which is a record. The traders see little chance for a rate cut in the United States this year as higher energy costs threaten to feed into broader inflation, and limit scope of monetary easing. This compares to expectations of two rate cuts prior to the start of the conflict. Gold's demand is affected by rising interest rates, not inflation. The U.S. Dollar, which is up more than 2% in the last two months since the U.S. and Israeli?war against Iran began on 28 February, has been a major factor. The huge shift in interest rate expectations is what's behind this underperformance. The USD has picked up on this," said?Nicholas Frappell. Global head of institutional market at ABC Refinery. Spot silver increased 0.8% to $68,67 per ounce. Spot palladium increased 3.2% and platinum rose 2.5%. (Reporting and editing by Sumana Nandy, Harikrishnan Nair and Noel John from Bengaluru)
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India eases the rules to allow some state-owned firms to purchase critical equipment from China
After easing restrictions, India allowed some state-owned firms, including Bharat Heavy Electricals and Steel Authority, to purchase critical equipment in China. Last month, it was reported that India would ease restrictions on purchasing Chinese equipment after a deadly border clash in 2020. This would allow state-run coal and power companies to import limited quantities of Chinese equipment as shortages and project delays increased. Since then, India has also relaxed investment restrictions on China. The government order stated that Bharat Heavy Electricals, India's largest power equipment manufacturer, can now purchase 21 types of critical equipment from China under the new rules. The Steel Authority of India has also been granted a similar authority to source critical components and coal-gasification equipment by other state-run companies, according to a government official. New Delhi tightened rules on Chinese investments and procurement after the deadly clashes between Indian and Chinese soldiers along the Himalayan border in 2020. However, a global realignment prompted by U.S. trade tariffs has led India to consider a 'calibrated reset' with China to maintain supply chains and attract investment. In August last year, Indian Prime minister Narendra Modi met with Chinese President Xi Jinping and discussed 'improving ties'. After this, the two countries resumed direct flight routes, and New Delhi eased the visa requirements for Chinese business professionals. This government order, which was issued in this month and seen by, exempts Chinese bidders from registering with a government panel to obtain security clearances. New Delhi eased restrictions on Chinese investment in certain sectors earlier this month to ease capital pressures, marking an important reset of economic relations. (Reporting and writing by Sarita Changanti and Nikunj Ahri; editing by Jan Harvey, Susan Fenton and Shivangi Acharya)
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Trump says Iran's current leaders are'very reasonable', as Pakistan prepares for talks
President Donald Trump claimed that the U.S. has been meeting with Iran "directly and indirect" and that the new Iranian leaders were "very reasonable". This was as more U.S. troops arrived in the area and Tehran warned they would not accept humiliation. Trump's comments on Sunday come after Pakistan, acting as an intermediary between Tehran, Iran and Washington, announced that it would be hosting "meaningful discussions" in the next few days to end the Iran?war, which has lasted for a month. Trump said to reporters Sunday night as he traveled on Air Force One from New York City to Washington. Trump claimed that he believed the U.S. already achieved regime change in Iran after the strikes killed the country’s supreme ruler and other top officials. He said, however, twice that the replacements of these officials seemed "reasonable". Ayatollah Ayatollah Khamenei was killed in an initial Israeli attack on 28 February. He was replaced by Mojtaba, his son. The war in the Middle East has killed thousands of people, caused the largest disruption to energy supply and hit the global economy. Ishaq Dar, Pakistan's Foreign Minister, said that talks between regional ministers on Sunday focused on ways to end the war quickly and possible U.S. Iran talks in Islamabad. He said, "Pakistan is honored to host and facilitate meaningful discussions between the two parties in the coming days for a comprehensive settlement of the conflict." It wasn't clear if the U.S. or Iran had agreed to participate. Mohammad Baqer Qalibaf was the speaker of Iran's parliament. He accused the U.S. earlier of sending messages regarding possible negotiations, while simultaneously planning an invasion. He said that Tehran would be ready to act if U.S. troops were deployed. In a national message, he stated that "we will never accept humiliation" as long as the Americans want Iran to surrender. The US Department of Defense has sent thousands of troops into the Middle East to give Trump the option of launching an offensive on the ground. Israel's official stated that it had no plans to reduce its attacks on Iran in anticipation of any possible talks between Washington or Tehran. Israel would continue to strike what they called military targets. ISRAELI STRIKES Israel's military claimed that it launched 140 air strikes against central and western Iran including Tehran in the 24 hours leading up to Sunday evening. These included missile launchers and storage sites, among others. Iranian state media reported that strikes had been carried out on the airport of Mehrabad and a petrochemical facility in Tabriz, a city located to the north. The chemical plant, located in southern Israel, near the city Beersheba, was struck by a missile fragment or missile as Israel battled multiple Iranian salvos. Officials warned the public not to enter the area due to "hazardous material". The blockade of Iran's Strait of Hormuz by the Islamic Republic, which is responsible for 20% of all oil and gas exports, has caused oil prices to rise and economic pain around the globe. As investors sank into a prolonged Gulf conflict, oil prices are already heading to a record-breaking monthly increase. This will lead to a surge in inflation and a risk of recession for much of the world. Japan's Nikkei Index was down 4.7%. Brent crude oil is on track to set a new record for monthly gains. Brent crude futures rose $3.09 or 2.74% to $115.66 per barrel at 2353 GMT, after closing 4.2% higher?Friday. More US Troops arrive The New York Times, citing military officials, reported that several hundred special operations personnel had arrived in the area. The U.S. Military has announced that thousands of U.S. Marines arrived on Friday aboard an assault ship amphibious, the first of a two-contingent contingent. Multiple news outlets have reported that the Pentagon is considering options for military forces that may include ground troops, but that Trump hasn't approved any of these plans. In a Financial Times interview published on Sunday, Trump stated that he wished to "take oil in Iran", and that he could seize Kharg Island's export hub. To take control of Kharg, ground troops would be needed. Seizing the island would allow the United States to disrupt Iran's energy trade and put enormous pressure on Tehran. A majority of Americans oppose the war and an escalation of military force, which could lead to a prolonged crisis, would probably further damage Trump's approval rating, already low, ahead of the November midterm elections in Congress. Houthis from Yemen, who are Iran-aligned, joined the conflict Saturday. They launched their first attacks against Israel, and raised the possibility that they could target the Bab el-Mandeb Strait and block it. Israeli authorities announced on Sunday that two drones were intercepted from Yemen. (Reporting and writing by bureaux, Brad Heath and Michael Perry, and Sergio Non and Stephen Coates).
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Gold drops as Houthi attacks lift oil and Fed rate-cut expectations dim
Gold prices fell on Monday as a rise in energy costs fueled inflation fears and dampened expectations of interest rate reductions by the U.S. Federal Reserve this year. As of 0238 GMT, spot gold was down 0.6% at $4466.99 an ounce. U.S. Gold Futures for April Delivery fell 0.6% to $4496.30. Gold is down more than 15 percent this month. This is the steepest decline in a single month since October 2008 as the U.S. Dollar strengthened. Since the U.S. and Israeli war on Iran began February 28, the currency has gained over 2%. The 'bigger macro picture' behind the underperformance of gold is the massive shift in interest rate expectations... The USD has picked that up, and gold's outlook is also rate-dependent. This has been a factor in gold's underperformance, as it was expected that the policy rate would be lower with a new Federal Reserve Chair, which has worked against gold, said Nicholas Frappell. The traders now believe that there is little chance for the U.S. to cut its interest rate this year. Higher energy prices are likely to increase inflation and reduce scope for monetary ease. This is in contrast to expectations of two rate cuts prior to the start of the conflict. Gold's popularity as a "hedge" is usually boosted by inflation, but high interest rates are reducing its appeal. Brent crude oil rose above $115 per barrel over the weekend after Yemeni Houthis attacked Israel, widening the war and increasing inflation. The contract rose 60% in March, which was a record monthly increase. In an interview published by the Financial Times on Sunday, U.S. president Donald Trump stated that he wanted to "take the Iranian oil" and could seize Kharg Island's export hub. Gold's price movement last week indicated a reaction to an oversold situation and a potential reversal in recent declines. This must be confirmed this week by the price action. It's easy to anticipate volatility, given the rapid?flow headline news," Frappell said. Spot silver dropped 1.3% to $68.67 an ounce. Palladium and platinum spot prices rose by 1% each to $1391 while platinum gained 0.3%. (Reporting and editing by Sumana Nandy, Harikrishnan Nair; Noel John from Bengaluru)
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Media reports that the manhunt for a fugitive accused of killing 2 Australian police officers has ended with the death of the suspect.
Australian police killed a gunman who had been on the lam for seven months, after allegedly killing two police officers in a remote area of Victoria state. The reports stated that Dezi Filby, a 56-year-old man, formerly known as Desmond Freeman, was shot dead at around 8:30 am on Monday (2130 GMT Sunday) after a three-hour confrontation at a rural property located in northeast Victoria. Victoria Police Chief commissioner Mike?Bush refused to confirm the identity of a person who was shot by police until official identification had been made, but said that the shooting was justified. Bush told reporters at a press briefing that "everything I know tells me right now that this shooting was justified". He added that no officers were hurt during the incident. We're trying to determine the consequences of this. "We strongly believe - yet to be verified - that he was armed." Over 450 officers were involved in the hunt for Freeman, since August. He allegedly opened up on a group of 10 officers when they arrived to carry out a search warrant at a Porepunkah property, located about 300 km (186 miles northeast of Melbourne). The authorities offered a reward of A$1,000,000 ($684,700), if they could lead to his capture. Freeman, who is believed to be an expert in bushcraft and possess multiple powerful guns, fled into bushland at Mount Buffalo National Park after the shooting. Local media has described him as "a sovereign citizen", which is a term that's used for individuals who view the government as unlegitimate. The Age newspaper reported that Freeman had been found dead and shot by police on a large rural estate in Victoria's remote Walwa area, approximately 180 km (112 miles) northeast of Porepunkah. The report stated that satellite imagery showed the property to be studded with several buildings, two shipping container, a caravan, and several abandoned vehicles.
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Brent crude sets record monthly increase after stocks plunge in Asia
Investors in Asia lowered their expectations for the Gulf conflict, which is already causing oil prices to rise at a record rate. This will lead to a surge in inflation and an increase in recession risk for much of the world. According to the 'Financial Times', Donald Trump said that the U.S. might'seize the?Kharg Island, in the Persian Gulf from where Iran exports most of its oil. But he also suggested that a ceasefire would be imminent. Pakistan has said that it is preparing "meaningful discussions" in the coming days to end the conflict with Iran, despite Tehran's earlier accusation of Washington preparing an assault on the land as the U.S. military sent more troops into the region. Yemen's Houthis, who are also Iran-aligned, launched their first attack on Israel since the beginning of the conflict. Madison Cartwright is a senior geo-economic analyst at Commonwealth Bank of Australia. She said that Iran's ability to control the Strait of Hormuz and disrupt global energy, food, and agricultural markets as well as its missile and drone capabilities are not enough to encourage it to give in, forcing the U.S. into escalation. We expect the conflict to last at least until June. The risk is that it could be a much longer one. Prices for fuel, oil, gas and fertiliser have risen as a result of the clampdown in the Strait, along with prices for plastics, aluminium, and planes. Food, pharmaceuticals and other petrochemical products will all see their prices rise. This is a bad thing for Asia as a large part of the region relies heavily on Middle Eastern energy. Japan's Nikkei lost another 4.7% bringing March losses to almost 14%. South Korea's stock market dropped 4.2% while MSCI's broadest index of Asia-Pacific stocks outside Japan fell 1.2%. S&P futures dropped 0.9%, while Nasdaq's futures declined 0.7%. EUROSTOXX Futures, DAX Futures, and FTSE Futures all fell 1.5% in Europe. Brent crude climbed 3.0% to $115.98 per barrel, topping the gains made by Iraq after its invasion of Kuwait in 1990. U.S. crude rose 3.0% to $102.52, a rise of 53% for the month. Bruce Kasman warned that the longer the Strait remains shut, the more the buffer supply will be reduced, which could lead to dramatic increases in crude oil, gas, and other commodities. The scenario of the Strait remaining closed for another month is consistent with rising oil prices towards $150/bbl, and constraints on energy consumption by industrial consumers. As payrolls loom, the FED is in focus. Investors have revised up their expectations for interest rates in almost all countries due to the inflationary threat. The markets now expect the Federal Reserve to tighten interest rates by 12 basis points this year compared to 50 basis points a month earlier. Fed Chair Jerome Powell is scheduled to speak at a later event on Monday. John Williams, the influential head of New York Fed will also be speaking. This week, data on U.S. manufacturing, retail sales and payrolls will give an update on the?state of the economy. After February's shocking 92,000-job drop, jobs are expected to rise by 55,000 in march, maintaining unemployment at 4.4%. The European Union is expected to release figures on Tuesday showing that annual inflation jumped to 2.7% from 1.9% in March, but core prices should remain stable. Energy shocks, coupled with increased borrowing costs, and the need to increase defence spending have slammed sovereign bond markets. The yields on ten-year U.S. Treasury bonds are up 47 basis points this month, at 4.428%. Two-year yields also have increased 54 basis points. The U.S. Dollar has been favored by increased volatility on the markets as the most liquid currency in the world. The United States has a comparative advantage over Europe and much of Asia because it is also a net exporter of energy. The dollar held at 160.12yen after last week crossing the 160 barrier for first time since July 20,24, when Japan intervened last to support the currency. The euro was stuck around $1.15, just a little bit above the low of March at $1.1409. Gold was down by 1.0% on commodity markets at $4,445 per ounce, despite the fact that it is not widely regarded as a safe-haven, or a hedge to inflation risks. (Reporting and editing by Edmund Klamann, Muralikumar Aantharaman, and Wayne Cole)
Iron ore prices on the rise as investors compare rising costs with high portside stock
Iron ore futures were in a narrow range on Monday as investors weighed the impact of high energy prices, a rise in steel demand in China's top consumer against high portside stocks.
As of 0219 GMT, the?most-traded contract for iron ore on China's Dalian Commodity Exchange was up 0.37% to 815.5 Yuan ($117.84).
As of?0209 GMT, the benchmark May iron ore price on the Singapore Exchange had not changed much. It was $106.05 per ton.
The price of a key ingredient in steelmaking has been supported by rising energy costs, but they have not been impacted much by the 'immediate shocks' caused by the Middle East conflict.
Analysts at JP Morgan wrote in a recent note that "it doesn't seem like there will be any imminent production cuts".
Iron ore prices were also boosted by expectations that steel demand would improve in China.
Portside iron ore stock levels remained high despite the?a moderated, limiting room for price increases.
The ore stock at 47 major Chinese port ports reached a record-high of 179 million tonne earlier this month, before dropping to 177 millions tons by the end of the week.
The market is also focused on the developments surrounding the negotiations between China's state iron ore buyer, and the third largest supplier in the world - BHP. Their protracted dispute over supply contracts has exacerbated price volatility.
Coke and other steelmaking materials, such as coking coal, have both advanced by?0.21% et 0.4%.
The Shanghai Futures Exchange's steel benchmarks gained ground. Rebar gained 0.61%; hot-rolled coil grew 0.3%; wire rod rose 0.27%; and stainless steel edged upwards by 0.14%. ($1 = 6.9203 Chinese Yuan) (Reporting and editing by Amy Lv, Lewis Jackson)
(source: Reuters)