Nordic States




Natural Gas Utilities

Statkraft, Norway's largest steel producer, reports a drop in profits and says that politics may have an impact on costs

Statkraft, a Norwegian company, reported a 56% decline in its fourth-quarter operating profit despite soaring power prices. Statkraft also warned that trade wars may increase the cost to build generation capacity. Birgitte Vartdal, CEO of Birgitte Ringstad, said that "potential trade wars would increase costs, and reduce the efficiency in the market." Statkraft's earnings before interest and taxes (EBIT) dropped from 11.5 billion Norwegian crowns to 5.1 billion Norwegian Crowns ($459m) compared to 11.5 billion a previous year. It said that the benchmark Nordic System power price has fallen to an average of 31,10 euros per Megawatt-hour, down 46.3% on...





Energy Markets

Crude Oil

Crude Oil

Investors see the beginning of a tectonic move away from US markets

The global money flows are being upended by a historic trade war, the proposed European fiscal bazooka of $1.2 trillion and China's rise as the leader in the tech race. This could be a turning point, with investor capital moving away from the United States. China released more stimulus on Tuesday and pledged to make greater efforts in order to mitigate the impact of a escalating U.S. Trade War. The likely next German government had agreed to the largest overhaul of fiscal policy since the reunification. German bonds plunged in the biggest sell-off in decades on Wednesday as the 30-year...

Crude Oil

Investors see the beginning of a tectonic move away from US markets

The global money flows are being upended by a historic trade war, the proposed European fiscal bazooka of $1.2 trillion and China's rise as the leader in the tech race. This could be a turning point, with investor capital moving away from the United States. China released more stimulus on Tuesday and pledged to make greater efforts in order to mitigate the impact of a escalating U.S. Trade War. The likely next German government had agreed to the largest overhaul of fiscal policy since the reunification. The U.S. trade war, which began this week, is hurting the mood both inside...

Crude Oil

MORNING BID EUROPE - Trump flags crypto reserves, mum on financing

Wayne Cole gives us a look at what the future holds for European and global markets. Crypto fans have had a great day after President Donald Trump announced on social media that he would be creating a reserve of digital assets, which included bitcoin, ether XRP, cardano, solana, and xrp. Bitcoin is around 10% higher while ether jumped by 13%. The fund's workings are still unclear and will likely be explained at the White House Crypto Summit on Friday. Analysts wonder how the reserve is going to be funded, given that the government has a debt of $36 trillion. Borrowing...

Crude Oil

MORNING BID EUROPE - Relieved as German vote avoids extremes

Wayne Cole gives us a look at what the future holds for European and global markets. Markets are relieved that the CDU/CSU, a relatively mainstream conservative party in Germany won the election. DAX futures have now risen 1.4% following a slow start. The euro is up 0.5% at a new one-month high of $1.0528. This top has been surpassed by the previous $1.0514. Next target is $1.0534. The Conservative leader Friedrich Merz has yet to form a government coalition. It is unclear whether he needs one partner or more, and the latter will take longer. Analysts believe a simple coalition...

Crude Oil

Global stock markets fall as traders consider Trump's tariff threat

A global index was down on Wednesday as Wall Street and European shares fell. The latest tariff threats by U.S. president Donald Trump on imports of autos, semiconductors and pharmaceuticals also injected caution into the market. Trump has added a 10% tariff to all existing duties on imports from China since his inauguration, four weeks ago. He also announced and delayed by a month 25% tariffs on imports from Mexico and Canada that are not energy-related. Trump told reporters Tuesday that tariffs for pharmaceuticals and semiconductors would begin at "25 percent or more" before rising over a period of one...

Crude Oil

MORNING BID EUROPE - Hey, Asia also has tech shares

Wayne Cole gives us a look at what the future holds for European and global markets. The Asian share market has started the week on a positive note, despite a holiday that has reduced liquidity in U.S. stock markets. Hong Kong again led the charge, adding another 1.4% to last week's 7.5% jump amid optimism over potential low-cost AI application following the DeepSeek announcement. Goldman Sachs raised its outlook for Chinese growth and stocks. The firm argues that widespread AI adoption could increase earnings per share in China by 2.5% annually over the next decade. This would increase the fair...

Crude Oil

All tariffs at all times.

Wayne Cole gives us a look at what the future holds for European and global markets. The week began with the now-common bang of President Trump using a scrum in front of the media on Air Force One, to announce 25% tariffs for steel and aluminum imports into America. He also promised more reciprocal tariffs by Tuesday or Wednesday. The new Chinese retaliatory duties on the U.S. also came into force at the same time. German Chancellor Scholz stated that the EU would be ready to respond "within one hour" to any levies. Investors have sold the usual suspects, with...

Crude Oil

Morning bid Europe-Markets confused by Trump's Gaza plan

Wayne Cole gives us a look at what the future holds for European and global markets. First of all, no one knows what to think of Donald Trump's suggestion that the United States should take over the Gaza Strip and transform it into the Riviera for the Middle East, once the Palestinians have been relocated elsewhere. This proposal is not clear. It sounds like the idea that Trump's son in law Jared Kushner floated last summer, saying that Gaza's waterfront could be valuable and Israel should remove civilians while the strip is cleaned up. The oil price has not reacted...

Crude Oil

Sverdrup oilfield, a massive Equinor field, is shut down by a power outage

A company spokesperson confirmed that Norway's Equinor stopped all production from its Johan Sverdrup field in the North Sea on Tuesday due to a failure in the offshore electricity system. This is the largest oilfield producing in western Europe. The spokesperson did not elaborate. "Repair works have been started, and we're working on a plan to restart the system," he said. The oil price could be supported by the outage, as it was under pressure Tuesday due to concerns over global demand after U.S. Tariffs on China went into effect. Sverdrup produced up to 755,000 barrels per day of oil...

Crude Oil

Morning Bid America-Markets are frightened by the 'Tariff Man.'

Alun John is the EMEA Breaking News Correspondent for Finance and Markets. He gives us a look at what's ahead on U.S. markets and the global market. Investors fled stocks in Europe and Asia on Monday and rushed into dollars as they tried to deal with the effects of President Donald Trump's decision to impose tariffs that were higher than expected against top U.S. trade partners. Trump, in three executive orders, imposed tariffs of 25% on Mexican imports, most Canadian imports, and 10% on Chinese goods, beginning Tuesday. In the European morning, U.S. S&P futures fell by 1.7% while Nasdaq...

Crude Oil

Markets prepare for Trump tariffs and US inflation data

The global stock market stabilized on Friday following a volatile week, thanks to the introduction of a Chinese artificial intelligence (AI) model that is low-cost. Investors braced themselves for U.S. Tariffs against Canada and Mexico starting as early as this Saturday. Apple's relatively strong sales forecasts overnight helped to support the market sentiment. European stocks rose 0.4% early in trading while Wall Street futures rose between 0.4 to 0.7%. Investors reacted badly to the AI model of Chinese firm DeepSeek on Monday, sending shares in high-profile technology names like Nvidia and Oracle plummeting. The tech stocks have recovered some of...

Crude Oil

Asia shares buoyed by Trump's China remarks, yen awaits BOJ

Global shares increased on Friday buoyed by the possibility of lower U.S. interest rates and a U.S.China trade deal following remarks from President Donald Trump, while the yen steadied ahead of an extensively anticipated walking from the Bank of Japan. In an indication of policies to come, Trump informed magnate at the World Economic Online Forum in Davos, Switzerland, on Thursday that he wishes to decrease global oil prices, interest rates and taxes, and warned of tariffs on exports to the United States. I'll require that interest rates drop right away. And similarly, they ought to be dropping all over...

Environment

Climate Change

The chair of the Bank Climate Coalition wants to change rules

After the withdrawal of many of the largest banks, and in light of the fact that the real economy is not able to meet more ambitious climate change action, the chair of the world's leading coalition for banking climate policy has asked its members about possible changes. Shargiil Bahir, Chief Sustainability officer and Executive Vice-President at First Abu Dhabi Bank, said that the decision, which was announced to members on Tuesday evening, reflected also recent developments in science and policy, methodology and regulation. He refused to provide details on the proposals, but, under condition of anonymity a source who had...

Climate Change

Data shows that only seven countries will meet WHO standards for air quality in 2024.

Data showed that only seven countries met the World Health Organization's (WHO) standards for air quality last year. Researchers warned, however, that the fight against smog will become even more difficult after the United States stops its global monitoring. According to data compiled by Swiss air monitoring firm IQAir, Chad and Bangladesh had the highest average smog levels in 2024. These levels were more than 15-times higher than WHO guidelines. IQAir stated that only Australia, New Zealand and the Bahamas made the cut, as did Barbados, Grenada Grenada, Estonia, and Iceland. There are significant data gaps in Asia and Africa...

Power Markets

Nordics' energy efficient infrastructure is ideal for Microsoft's expansion of data centres

Microsoft's director of AI Infrastructure, who is responsible for the data centres, said that Microsoft will shift its strategy so as to be driven more by power availability than by user demand or supply. The Nordic region, he added, would be a great place to have emission-free capability to support artificial intelligence. Microsoft, which has about 300 data centres around the world and will invest an additional $80 billion in them before the end of the month, is aiming to be carbon-negative by 2030. This means it must find a renewable energy source that emits no emissions to support the...

Mining

Mineral Resources

Mineral Resources

Who won Greenland’s parliamentary election?

Greenland's business-friendly opposition party, Demokraatit The Tuesday Parliament Election The debates about self-rule were dominated by the pledge of U.S. president Donald Trump to seize control of Greenland. Greenland was formally incorporated into the Kingdom of Denmark as a territory in 1953. Copenhagen controlled foreign affairs, defence, and monetary policies. In 2009, the island was granted the right to full independence by a referendum. However, it has not done so. WHAT WERE RESULTS OF THE VOTING? Around 40,500 of Greenland’s 57,000 residents were eligible to cast their vote. A little over 28600 people voted. Inatsisartut is the Greenland parliament. There...

Oil & Gas Exploration

CERAWEEK-Freeport-McMoRan hopes Trump declares copper a critical mineral

Freeport-McMoRan CEO Kathleen Quirk expressed her hope that U.S. president Donald Trump will declare copper to be a critical metal. This would allow tax credits for the American production of red metal, and help offset its global competitors, she said. Trump said to the U.S. Congress that he would take "historic action" to expand production of vital minerals, but he has not yet provided details. Copper is widely used in the global economy for power generation, electronic devices and construction. The U.S. Geological Survey identifies lithium, nickel and other minerals as essential. Quirk said that adding copper to Freeport's portfolio...

Mineral Resources

Scania, a Northvolt shareholder, has secured an additional supply of battery cells

Scania, the Swedish truck maker and shareholder of Northvolt, a struggling battery manufacturer, announced on Monday that it had acquired an alternative supply for battery cells in an effort to diversify their supply chain. Northvolt, once regarded as Europe's top contender for the electric vehicle battery leader, filed for Chapter 11 bankruptcy protection in November last year and is now seeking to raise money and restructure their debt. Scania stepped up to help Northvolt run its flagship factory in northern Sweden, in order to improve quality and production at the electric car battery manufacturer. Scania, owned by Traton, and its...

Climate Change

Inuit pride fuels Greenland independence spirit after Trump interest

In a small workshop in Nuuk, the capital of Greenland, goldsmith Nadja Kreutzmann polishes stones and metals mined on this vast island rich in minerals. Her jewellery is decorated with Inuit symbols for life and survival. Indigenous identity in Greenland is resurging ahead of the March 11 general elections called by U.S. president Donald Trump after he said he wanted Greenland to be his. Trump's interest in Greenland has shaken up the status quo. This, coupled with growing Inuit pride has led to some locals viewing the vote as an historic opportunity to free Greenland of Danish influence. Greenland is...

Mineral Resources

Wall Street prepares for possible fallout when Trump tariffs against Canada and Mexico are near

The Trump administration has delayed the implementation of new tariffs against Mexico and Canada for a month. The reprieve will end on Tuesday. The U.S. Commerce secretary Howard Lutnick confirmed that the tariffs against Canada and Mexico will take effect on February 2. Donald Trump, however, will decide if the proposed tariff rate of 25% is maintained. Canada exports mainly crude oil, other energy products and cars and car components as part of North American auto manufacturing chains. Mexico exports a variety of goods from the auto and industrial sectors. What top brokerages say about the impact of tariffs on...

Mineral Resources

Europe stocks continue record run on defence sector boost

The European share market reached a new high on Tuesday, as defence stocks rose on the prospect of higher military spending in the area. However, a Capgemini led drop in IT shares capped the gains. The STOXX 600 pan-European index rose by 0.2%, to a new record of 555.42. The aerospace and defense index jumped 1%. After European Commission President Ursula von der Leyen announced that the Commission would propose an exemption for defense spending from EU budget limits, the sector grew by 4.6% Monday. This is its largest one-day increase since Russia invaded Ukraine, in February 2022. Defense stocks...

Mineral Resources

Aluminium producer Norsk Hydro lags profit forecast in 4th quarter

Norsk Hydro, a Norwegian aluminium manufacturer, missed its fourth quarter profit expectation on Friday. Higher costs and weaker downstream demand were only partially offset by high alumina and aluminum prices and positive exchange rates. The adjusted earnings before taxes, depreciation, and amortization more than doubled in the fourth quarter of 2024 to 7,70 billion Norwegian crowns (690.5 million dollars). However, this was below analysts' expectations of 8,28 billion crowns. The 25% tariffs imposed by President Donald Trump on steel and aluminum are increasing U.S. prices, exposing the production gap at home and creating a possible cost increase for producers of...

Mineral Resources

The license holder claims that the repeal of Greenland's uranium ban could bring back a massive rare earth project.

After the election next month, the mining company who owns the license to Greenland’s Kvanefjeld Deposit is hopeful that the new government will lift the ban on uranium mines. This could lead to the revival of one of the largest rare earth projects in the world. Last month, U.S. President Donald Trump expressed renewed interest in the acquisition of this strategically important Arctic Island. Daniel Mamadou, CEO of Energy Transition Minerals (the Kvanefjeld license holder), said in response to Trump's remarks: "I believe it puts everything related minerals back on track." According to Mamadou, Kvanefjeld ranks among the top three...

Mineral Resources

Pandora's growth will be lower in 2025 following strong holiday sales in the U.S.

Danish jewellery company Pandora announced on Wednesday that it expected sluggish growth in Europe, and a slowdown in Germany following a period of strong growth. Pandora, a company known for its charms bracelets, has reported an operating profit that was in line with expectations. However, Black Friday sales accounted for a larger share of the total, which impacted profitability slightly. The largest jewellery company in the world by volume expects organic growth of 7-8% by 2025. The company had a better organic growth rate of 13% in 2024 than its guidance of 11-12%. Pandora's fourth quarter comparable sales in the...

Mineral Resources

Sweden's LKAB states it might fulfill 18% of Europe's unusual earth requires with Per Geijer mine

Sweden's LKAB might provide around 18% of Europe's uncommon earth metal demand in the long term if its north Arctic Per Geijer mine enters production, the company stated on Tuesday as it began building and construction of an associated processing center. Uncommon earths are a group of 17 metals crucial to items from lasers to iPhones and green technology secret to meeting Europe's environment goals. State-owned LKAB broke ground on Tuesday on its 800 million crown ($ 73 million) Lulea plant in northern Sweden, which will process mining waste, including potentially from Per Geijer, into rare earth concentrate, phosphoric acid...

Mineral Resources

Cobalt miner Jervois in rescue offer after struggle to take on China

A collapse in the rate of battery metal cobalt has actually forced fledging producer Jervois Global Ltd to delist and reorganise, the company stated on Thursday, after struggling for years to compete with Chinese rivals. The relocation highlights an excess in cobalt, a key ingredient in electric vehicle batteries, as dominant Chinese producers continue to drain the product while EV sales have actually stopped working to fulfill bullish forecasts. The cost of cobalt, which is likewise utilized in electronic devices and a series of weapons, to name a few items, has tumbled 72% since striking a peak in April 2022....

Mineral Resources

Weight-loss drug developers line up to tap market worth $150 billion

Novo Nordisk's Wegovy and Eli Lilly's Zepbound are up until now the leaders in the weightloss drug market, which is estimated to be worth about $ 150 billion by the early 2030s. There are also a number of other drug developers intending to join the bandwagon. The following is a list of publicly noted business targeting the next huge blockbuster chance: NOVO NORDISK Novo's closely-watched weight problems drug candidate CagriSema assisted overweight patients cut their weight by 22.7% in a. late-stage trial, but that was below its own expectations of up. to 25% reduction. The data compares to weight-loss of...