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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 individual stocks. BNP - Paribas BNP Paribas announced that it is in exclusive negotiations to sell 67% of BMCI's Moroccan stake to Holmarcom. Arcadis: Arcadis has named Heather Polinsky its 'new CEO', replacing Alan Brookes effective March 1, 2026. Spie: Spie has signed an agreement with Artemys to purchase 93% of the company. The transaction is expected to be completed in early 2026. Voltalia has won a 68 megawatts deal in Italy. Colruyt Colruyt secured majority collective agreement in France on a job-protection plan resulting in an estimate restructuring charge between 55 and 65 million euros for H2 2026. Euronext: Euronext added Eiffage to the CAC40 index and removed Edenred. 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 world bourse outlook......... European Asset Allocation........................ News at a glance: Top News............. Equities.............. Main oil report........... Main currency report.....
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MORNING BID EUROPE - Copper edges out silver to win gold
Gregor Stuart Hunter gives us a look at what the future holds for European and global markets. Shanghai copper futures have reached a new'record high' today, as more stimulus from China is expected. Investors are looking to real assets as the U.S. Dollar falls to its lowest level in two months after the Fed's rate cut this week and the policy stance that pushed against the market’s hawkish view. Dollar debasement had already lifted the price of silver. The stock markets in Asia were up despite fears about the AI bubble. The MSCI Asia-Pacific ex-Japan Index rose 0.8% on the strength of Wall Street, while the Topix Index surged 1.5%, boosted by Sumitomo Metal Mining's 6.7% gain. Oracle's 13% drop in value was a shock to the?tech industry after OpenAI, a cloud computing partner, forecasted lower revenue growth than expected. Broadcom's better-than expected revenue gave investors some hope. The relief was short-lived, as the shares fell 5% after hours after Broadcom said that it expects a decline in "quarterly margins". Nasdaq Futures fell slightly while S&P500 e-mini Futures remained flat. The oil prices have also stabilized, but their drivers were geopolitical and not demand-driven. Brent futures rose by 0.7% to $61.70, after renewed threats made by U.S. president?Trump to strike on drug routes on land between the U.S. Early European trading saw pan-regional futures, German DAX and FTSE up by 0.4% each. The following are key?developments which could have a significant impact on the markets this Friday: Economic Data Germany: CPI for November U.K.: Estimated GDP, Goods Balance, and Industrial, Services and Manufacturing Production for October France: CPI for Novembre Debt auctions: U.K. government debt for 1 month, 3 months and 6 months
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Silver nears record high, gold holds 7-week high. Investors gauge Fed's trajectory as they watch the gold price.
The gold price held at a 7-week high, supported by the expectation of further interest rate reductions next year, after?the U.S. Federal Reserve rejected hawkish bets. Silver hovered below Thursday's historic peak. Gold spot fell 0.2% at $4,275.44 an ounce as of 0236 GMT. However, it was still on course for a weekly gain of 1.8% after reaching its highest level since October 21 last Thursday. U.S. gold futures fell 0.2% to $4306,20. Dollars are on course for a third consecutive weekly decline, lowering the price of?bullion for buyers from abroad. Soni Kumari, ANZ analyst, said: "Gold looks quite positive. Investors are taking their cues from?the fact that the market still prices two rate cuts for next year even though the dots plot only suggested one." Investors viewed the Fed's statement and Jerome Powell’s comments on Wednesday as less hawkish. Officials indicated that further easing will depend on clearer indications of cooling inflation and an improved labour market. The number of U.S. unemployment claims increased by the highest amount in almost 4-1/2 years, but the increase was not seen as a sign that the labour market is softening. Investors are now awaiting the U.S. Non-farm Payrolls Report next week for more clues about the Fed's future policy. Spot -silver rose 0.4% to $63.84 an ounce, after reaching a record of $64.31 per ounce on Thursday. This is a good sign for a weekly gain of 9.2%. Prices have more than doubled in the past year due to a strong industrial demand, decreasing inventories and the inclusion of white metal on the U.S. Critical Minerals list. Ajay Kedia of Mumbai-based Kedia Commodities said that physical shortages, exchange-traded funds, and the Fed rate-cutting outlook were all supportive. Ajay Kedia also noted that there was a technical rounding-bottom break-out pointing towards $75 for silver. Palladium was up 1.9% at $1,512.0, and platinum rose 0.2% to $1,698.45. Both metals were on track for a rise in the coming week. (Reporting and editing by Rashmi aich, Subhranshu Sahu and Ishaan arora)
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Dalian iron ore drops on softening of demand and higher stocks; set to suffer second weekly loss
Dalian iron ore fell on Friday, and are set to suffer a second week of losses, due to easing demand from the top consumer China, and higher portside inventories. However, Beijing's promise of a?fiscal?stimulus, and stabilizing property market, helped cap losses. The most traded iron ore contract at China's Dalian Commodity Exchange slipped 0.46% by 0319 GMT to 759.5 Yuan ($107.65). As of 0309 GMT, the benchmark January iron ore price on the Singapore Exchange increased by 0.45%?to $101.9 per ton. Both benchmarks are down by around 1% this week. Iron ore consumption has been affected by the seasonal decline in steel demand and the 'low temperatures' that have hampered outdoor construction activities. The average?daily?hot metal output, which is a measure of iron ore demand, fell by 1.3% from the previous week to a low of 2.29 million tonnes by December 11. This was a fourth consecutive weekly decline, according to data from Mysteel. According to Mysteel, the portside inventories rose by 0.9% over the past week, reaching a record high of nearly 154.31 millions tons. Losses were, however, limited due to the Chinese leaders' promise?on Friday to continue a "proactive fiscal policy" next year which would encourage?both consumption?and investment?to maintain high economic growth. Beijing said that it would also stabilise the property market with city-specific?measures. The prolonged property market downturn has impacted the demand for steel. Coking coal and coke, which are used in the production of steel, fell by 2.68% and 1.84% respectively. The benchmarks for steel on the Shanghai Futures Exchange are stagnant. The price of rebar fell by 0.68%. Hot-rolled coils dropped 0.77%. Wire rod fell 0.12%. Stainless steel declined 0.84%. ($1 = 7,0552 Chinese Yuan) (Reporting and editing by Amy Lv, Lewis Jackson)
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Shanghai copper reaches record highs as China promises fiscal stimulus
Shanghai copper prices reached a new record on Friday, and are on course for a third straight 'weekly' gain. This is due to the promise by China of a fiscal boost next year as well as the U.S. Federal Reserve reducing interest rates and expanding its balance sheet. By 0204 GMT, the most traded copper contract at the Shanghai Futures Exchange had risen 1.34%, to 93570 yuan (US$13,261.43) a metric ton. It reached an all-time high of 94.080 yuan earlier in the day. This was a record that had been set on Monday. Benchmark three-month Copper on the London Metal Exchange fell 0.33% to $11,832.5 per ton. It had reached a record-high of $11,906 Thursday. This week, the benchmarks SHFE and LME have gained 0,9% and 1,4% respectively. The readout of the annual Central Economic Work Conference, held on December 10-11, by state news agency Xinhua was a positive one. It showed that Chinese leaders had pledged to continue a "proactive fiscal policy" in 2026. The market sentiment was also boosted after the Fed cut rates by 25 basis point on Wednesday, and announced that it would start buying short-dated Government bonds on Friday. The Fed's balance will be expanded once more by the restarted bond purchases. Concerns over a shortage of ex-U.S. copper have been sparked by mine supply disruptions, and the massive?outflows' of copper into the United States. ANZ Research expects copper prices to stay above $11,000 per tonne in 2026. Prices could reach $12,000 by the end of the year due to supply constraints and an accelerating growth in demand. SHFE tin reached a 43-month high at 332,820 Yuan per ton. This was boosted by fears about supply disruptions. SHFE aluminium rose 0.55%. Zinc climbed?2.22%. Nickel and lead both dropped 0.29%. The LME also saw a slight decline in aluminium, while nickel was unchanged, lead fell 0.2%, and tin rose 0.14%. Zinc, however, lost 0.37%. $1 = 7.0558 Chinese Yuan (Reporting and editing by Amy Lv, Lewis Jackson)
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Prices of oil are up due to tensions between the US and Venezuela, but they will fall by a week's time.
The price of oil rose on Friday, as fears about the U.S. interdicting more Venezuelan tankers heightened supply concerns. However, the prices remained on course for a weekly drop amid optimism regarding a possible Russia/Ukraine peace agreement. Brent crude futures were up 29 cents or 0.5% to $61.57 a barrel by 0115 GMT. U.S. West Texas Intermediate crude oil was at $57.91 a barrel, an increase of 31 cents or 0.5%. Both benchmarks dropped about 1.5% Thursday. Six sources with knowledge of the situation said that the U.S. was preparing to intercept additional ships transporting Venezuelan crude oil after the seizure this week of a tanker. This is part and parcel of increasing pressure on Venezuelan President Nicolas Maduro. The seizure of U.S. goods this week has raised concerns about disruptions in supply. After selling in anticipation that supply pressures will ease amid hopes of a Russia-Ukraine?agreement, buying has emerged to reduce losses following the U.S. seizing of a Venezuelan oil tanker, said Hiroyuki Kikukawa. Chief strategist at Nissan Securities Investment. He said that peace negotiations between Russia, Ukraine and other countries will be the main focus next week and beyond. If a real deal is reached, WTI may test $55 if it's a genuine agreement. The supply of Russian crude oil currently sanctioned in the West would increase if a peace agreement were to be reached between Russia and Ukraine. On Wednesday, the leaders of Britain and France held a phone call with U.S. president Donald Trump in order to discuss Washington's latest peace efforts to end war in Ukraine. They described this as a "critical time" in the process. According to an official of Ukraine's Security Service, on Thursday, Ukrainian drones hit a?oil platform in the Caspian Sea, stopping production at the facility that belongs?to Lukoil. In its latest oil market report, published on Thursday, the International Energy Agency revised its forecasts for global oil demand growth in 2026, while reducing its predictions for supply growth. This suggests a slight reduction of surpluses next year. The IEA noted that demand was expected to increase due to a stronger global economy and a lower supply of oil from countries under sanctions. The Organization of the Petroleum Exporting Countries' (OPEC) published data on Thursday that showed that the world oil supply and demand will be close in 2026. This is contrary to projections by the IEA, which predicted a massive glut. (Reporting and editing by Jacqueline Wong; Yuka Obayashi)
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The bird flu outbreak has spread to Madrid and hundreds of storks have been found dead.
The Spanish authorities detected four bird flu outbreaks in wild birds in central Madrid, where forest?agents collected hundreds dead storks in the?past few weeks including over 100 in the last 24 hours. According to the European Food Safety Authority, thousands of wild bird cases have been reported in 29 different countries. Madrid's Regional Government said in a statement that so far, no commercial poultry farms were affected and there was no serious human risk. It said that "the authorities are removing carcasses using strict biosecurity measures in order to prevent the further spread of virus." It is believed that the virus is carried by storks - migratory bird species arriving from northern Europe. In recent years, highly pathogenic avian flu has caused the culling of hundreds millions of birds in global farming. This has disrupted?food supplies and increased prices. Human cases remain rare. Miguel Higueras Ortega is the head of forestry operations for Madrid. He said that based on how the outbreak has behaved in Spain and throughout Europe, "there is no serious risk to human health" as there have been 'no cases recorded of transmission from animals to humans". The outbreaks do not seem to be a threat to the environment at this time, he said. (Reporting and editing by Andrei Khalip, Alex Richardson, and Jesus Calero)
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Security agency: Western Libya forces kill a notorious migrant smuggler
Western Libyan security force said Friday that they killed a notorious migrant trafficker in the coastal city of Sabratha, after "criminal groups" associated with him attacked one of their Checkpoints overnight. The Security Threats Combatting Agency, an agency of the western Libyan Prime Minister Abdulhamid al-Dbeibah's security, claimed that they raided and destroyed the hideout to respond to the attack, killing its leader Ahmed al-Dabbashi (also known as Al-Amu). Dabbashi's younger brother was arrested and six members of the force wounded during the fight, according to a statement posted on the agency's Facebook page. Dabbashi was under U.S. sanctions since 2018. Washington said that he was the "leader of two powerful migrant-smuggling groups" in Sabratha, and claimed that he "used his organisation to rob and enslave immigrants?before they were allowed to leave for Italy." Human trafficking has become rife since the NATO-backed 2011 uprising that toppled Muammar Gadhafi, Libya's longtime leader. The absence of a strong central authority and the proliferation of smuggling groups has made the country a major staging point for migrants who are trying to cross the Mediterranean to reach Europe. Dbeibah's Government of National Unity, or GNU, was not recognised by rival authorities in the east. Dbeibah's Government of National Unity (GNU) is not recognized by rival authorities in the east. A coalition of armed forces affiliated with a former U.N.-backed Tripoli government - the 'Government of National Accord' - fought against Dabbashi in a three week battle in 2017. The battle resulted in dozens of deaths and injuries, as well as damage to residential areas and Sabratha Roman ruins. Reporting by Ahmed Elumami, Writing by Alexander Dziadosz, Editing by Andrew Heavens
Silver nears record high, gold holds 7-week high. Investors gauge Fed's trajectory as they watch the gold price.
The gold price held at a 7-week high?Friday. This was due to the expectation of further interest rate reductions next year after the U.S. Federal Reserve rejected hawkish bets. Silver prices were just below their record high from Thursday.
Gold spot fell 0.3% at $4,270.89 an ounce as of 0524 GMT. However, it was still on course for a weekly gain of 1.8% after reaching its highest level since October 21 last Thursday.
U.S. gold futures fell 0.3% to $4302.10.
Dollar was set to drop for the third consecutive week, making gold cheaper for foreign buyers.
Soni Kumari, an ANZ analyst, said: "Gold looks quite positive. Investors are taking their cues from the fact that the markets still price in two rate reductions next year even though the dots plot only suggested a single."
The Fed announced its third 25 basis-point rate cut of the year, on Wednesday. Investors viewed its statement, as well as Chair Jerome Powell’s comments, to be less hawkish. Officials indicated that any further easing of interest rates would depend on signs of a cooling of inflation and a softening of labour market.
The number of U.S. unemployment claims increased by the highest amount in almost 4-1/2 years, but the increase was not interpreted as a sign that the labour market is softening.
Investors are now awaiting the U.S. Non-farm Payrolls Report next week for more clues about the Fed's policy path.
Silver spot was unchanged at $63.57 an ounce, after reaching a record of $64.31 per ounce on Thursday. This is heading towards a weekly gain of 9.2%.
Prices have more than doubled in the past year due to a strong industrial demand, shrinking inventories, and the inclusion of the white metal on the U.S. Critical Minerals list.
Ajay Kedia of Mumbai-based Kedia Commodities said that physical shortages, exchange-traded funds, and the Fed rate-cutting outlook were all supportive. Ajay Kedia also noted that there was a technical rounding-bottom break-out pointing towards $75 for silver.
Palladium was up 1.6% at $1,507.28, while platinum was unchanged at $1,695.06. Both metals were on track for a weekly increase. (Reporting and editing by Rashmi aich and Subhranshu Sahu;
(source: Reuters)