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State media reports that the death toll in China's northern region has risen following extreme rainfall
Eight people have died in extreme weather conditions near Beijing. Another 18 are still missing. Heavy rains flooded the hills of the region last week. State-run Xinhua late Wednesday reported citing local officials that the deaths took place in villages in the Xinglong region of Chengde, Hebei Province, without specifying how or when the people died. Xinhua reported that the search for missing persons is ongoing. Chengde, a mountainous town in China's Qing Dynasty, was a popular summer resort for Qing Emperors. Beijing and its surrounding areas have been ravaged by extreme rains since last Wednesday. In some places, a full year's rain fell in a matter of days. At least 30 people were killed in the suburbs of Beijing. Twenty-eight of these deaths were in the hilly Miyun District. The Chengde deaths occurred in villages that border Miyun, and are about 25 km (16 mile) from the Miyun Reservoir, which is the largest reservoir in China's northern region. During this period of heavy rains, the reservoir experienced record inflow and outflow as well as a high water level. The reservoir reached a new record of 3,63 billion cubic meters in its capacity on Sunday. Eight villages are located on higher ground in a valley upstream from the Miyun Reservoir. A landslide occurred in another village north of the reservoir on Monday, killing eight people and leaving four others missing. Meteorologists have linked extreme rainfall and severe floods to climate change. Chinese officials attribute a slowdown of factory activity to the heavy rains and flooding. (Reporting and editing by Stephen Coates; Xiuhao chen, Ryan Woo)
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ArcelorMittal reduces its steel demand forecasts following a slight Q2 beating
ArcelorMittal reported a quarterly core profit that was slightly higher than the market's expectations, but it lowered its steel demand forecasts due to U.S. president Donald Trump's new tariffs. In March, the Trump administration implemented its first trade measure with a tariff of 25% on steel and aluminum imports. In June, it doubled that rate to 50%. The Luxembourg-based firm's earnings before taxes, depreciation, and amortization (EBITDA), which are provided by the company, were $1.86bn in the second quarter. This was just slightly above the analysts' consensus estimate, $1.85bn. It said that the quarterly results were aided by a price-cost positive effect in Europe where increased selling prices exceeded increases in input costs, as well as a greater contribution from India. ArcelorMittal, however, cut its forecast for the global steel demand outside China. The company cited weaker U.S. consumer spending and trade disruptions. The company expects global steel demand to grow by 1.5% to 2,5% this year, excluding China. China is the top consumer and producer in the world. This compares to the February forecast of 2.5% - 3.5%. ArcelorMittal stated that tariff concerns and a subdued economy had dampened the demand in the U.S. where apparent steel consumption is expected to remain unchanged or even decline by as much as 2% in 2025. It had forecast growth between 1% and 3%. The company said that the European steel demand is holding up better than other regions. However, it has lowered its forecast for 2025 apparent growth in steel consumption to a range between -0.5% to +1.5% from an earlier range of 0% - 2%. It said that the revision was due to limited tariff effects and lower interest rates. Reporting by Anna Peverieri, Gdansk; editing by Milla Nissi-Prussak
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Austria's OMV 2nd-quarter results exceed forecasts, as the chemicals division soars
The second quarter results of Austrian oil company OMV were in line with expectations, thanks to higher results from the chemicals division. Lower contributions from its fuels and energy divisions were offset by lower results for the energy division. Vienna-based company posted a clean operational result of 1,03 billion euros ($1.18billion) for the second quarterly, which was in line with expectations. The consensus provided by the firm had expected 1.02billion euros. Clean operating results are based on current costs of supply and exclude one-off items, short-term gains or losses and energy inventory holdings. The Borealis Group's contribution to the company's second-quarter clean operating profit of 200 million euros was cited as the reason for this 76% increase. OMV's chemical division is a key growth driver for the company, as it transitions away from fossil fuels. It produces chemicals that are used in car parts, gas and water pipes and medical syringes. ($1 = $0.8747 euros) Reporting by Tristan Veyet, Gdansk. Editing by Christopher Cushing & Mrigank Dhaniwala
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Heidelberg Materials exceeds expectations in the second quarter with cost control
Heidelberg Materials, the second largest cement manufacturer in the world, announced a second-quarter operating income that was better than expected on Thursday. The company cited price adjustments and strict management of costs. The company's poll predicted that the group's RCO would be 1.03 billion euro, but it actually rose to 1.05 billion. Dominik von Achten, CEO of Dominik von Achten, said that our cost-management system has been particularly effective during the second quarter. The company has also confirmed that its full-year RCO forecast is between 3,25 billion and 3,55 billion euros. This is based on the assumption that the demand for construction will stabilise. The CEO said that despite the fact that demand is volatile in certain regions, it is stabilising in core markets. Construction industry sales have been declining in recent years due to high energy and inflation prices. The company responded by saying that it would continue to adhere to strict cost management and make price adjustments in order to meet its 2025 target. Von Achten said, "Our ongoing Transformation Accelerator program is progressing exactly as planned and with additional increases in savings has helped us improve our earnings again." The exchange rate is $1 = 0.8751 euro. (Written by Miranda Murray and edited by Rachel More, Subhranshu Sahu).
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China's iron ore exports continue to rise as storm clouds gather, Russell
Iron ore is the best performing commodity this year, with a price of over $100 per metric ton. This is despite signs that China's steel industry has been slowing down. The Singapore Exchange's most traded iron ore contract ended Wednesday at $101.71 per ton, down from $102.74 at its previous close. The rolling front-month contracts have traded within a narrow range this year. A high of $107.81 per ton was reached on February 12, and a low $93.35 was achieved on July 1. This stability is due to the fact that China has been a major buyer of seaborne products, accounting for 75%. Customs data shows that China imported 592.2 millions tons of goods in the first six months of this year. This is a 3% decrease from the same period last year. The June arrivals reached 105.95 millions tons, which is the highest level since December of last year. Kpler, a commodity analyst, estimates 101.32 millions tons for China's imports in July. Iron ore imports from China have been relatively resilient, and this has helped to keep prices around $100 so far in the year. The market will be watching to see if they can maintain that level, given the signals received from other iron ore and metal sectors. China, which produced just over half the world's total steel production, saw its output fall 9.2% from the same period in 2024 to 83.2 million tons. The first half of 2025 saw a 3% decline in production, to 514.83 millions tons. The outlook for the second part of the year also isn't very rosy, especially if the annual steel production stays around the informal goal of 1 billion tonnes, as it has been for the last five years. China's output of steel is unlikely to grow in the second half this year compared to the first. It may even decline, particularly if exports fall as importers impose higher duties on Chinese products. EXPORTS SLIPPERY Exports of steel product fell 8.5% in June compared to May. However, a good start to the year saw shipments rise 9.2% to 58.15 millions tons. The second half of the year is likely to see a decline in China's exports, which will put further pressure on this sector. Iron ore is becoming increasingly unattractive as China struggles to stabilize its economy and manufacturers are faced with uncertainty due to U.S. Tariffs and fierce domestic competition. SteelHome consultants SteelHome monitor port stockpiles to see if there is any room for iron ore inventory to grow. The week ending July 25 saw a drop of 131.05 millions tons compared to 151.8 million the previous week. Kpler data shows that iron ore imports outside China are also weak. They dropped to 136.56 millions tons in July, their lowest level since April. Kpler predicts that Europe's seaborne imports of iron ore will fall to 6,53 million tonnes in July, marking the third consecutive monthly decline. Japan is the second largest iron ore buyer in the world. Arrivals are expected to reach a record high of 7,73 million tons for July, a three-month-high. According to Kpler, South Korea is expected to import 4,71 million tons of soybeans in July. This is the lowest since February 2017. You like this column? Check out Open Interest, your new essential source of global financial commentary. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, X. These are the views of the columnist, an author for.
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Holcim's first results after North America spinoff beat profit expectations
Holcim announced better than expected recurring operating profits during its second-quarter results on Thursday. This was the first time the building materials manufacturer has reported its North American operations separately. The Swiss manufacturer of cement and roofing products posted an operating profit of 955 millions Swiss Francs ($1.17billion) in the three-month period ending June. The 944 million francs figure from a year ago was up 1.2%, beating consensus expectations of 929 million. Sales dropped 3.8%, to 4,18 billion Swiss francs. This was slightly lower than forecasts of 4,19 billion Swiss francs. The decrease was due to the strength of the Swiss Franc, which lowered the value of sales in other currencies. It also reflected Holcim's divestment from its businesses in Kenya Tanzania Uganda and South Africa. In local currency, net sales are 2.4% higher and operating profit is 9.8% higher. These figures are the first Holcim published since its North American division was separated into Amrize, a separate company. June 23 Holcim's first 2025 guidance as a stand-alone business said that it expects its operating profit to increase by 6-10% in local currency. The company also forecasted a 3-5% increase in sales in local currency. Reporting by John Revill and Editing by Miranda Murray.
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Surprise US stockbuild, Trump tariffs weigh on the market as oil prices remain steady
The price of oil was stable on Thursday, as investors assessed the risks of a supply shortage amid President Donald Trump’s call for a quick resolution to the Ukraine war through additional tariffs. However, a surprising build-up in U.S. crude stock weighed on the prices. Brent crude futures September expiring on Thursday fell 10 cents or 0.1% to $73.14 per barrel at 0345 GMT. Brent's October contract, which is more active, was down 14 cents or 0.2% at $72.33. U.S. West Texas Intermediate Crude for September fell 5 cents or 0.1% to $69.95 per barrel. Both benchmarks closed 1% higher Wednesday. Oil contracts are stuck in a holding pattern, as neither buyers or sellers can muster enough conviction to move prices either higher or lower. This is especially true on the eve of the deadline for the new U.S. Tariffs set for August 1. Sachdeva continued, "On the one hand, Trump’s hawkish remark on Russian oil sanctions continue to support tight-market premiums. On the other hand, a strong dollar, tepid growth indicators globally, and that unexpected EIA increase are capping gains." Trump announced that he would begin imposing measures against Russia, including 100% secondary duties on its trading partners if the country did not end the war in 10-12 days. This was a move up from a 50-day earlier deadline. Toshitaka Takawa, an analyst with Fujitomi Securities, said that the concern about secondary tariffs on countries who import Russian crude oil will restrict supplies continues to drive interest in buying. The U.S. warned China, which is the biggest buyer of Russian crude oil, it would face high tariffs if they continued to buy. The U.S. Treasury Department issued new sanctions Wednesday against over 115 Iran linked individuals, entities, and vessels. This is an indication that the Trump administration has intensified its "maximum-pressure" campaign following the June bombing of Tehran's nuclear sites. The Energy Information Administration reported on Wednesday that U.S. crude inventories increased by 7.7 millions barrels during the week ended July 25, to 426.7million barrels. This was due to lower exports. Analysts expected a draw of 1.3 million barrels. The gasoline stocks dropped by 2.7m barrels to 228,4m barrels. This was far more than expected, which predicted a 600k barrel draw. ? Tazawa, of Fujitomi Securities, said that the U.S. crude stock data revealed a surprising build, but an unexpected gasoline draw confirmed the strong driving season demand. This resulted in a neutral effect on the oil market. (Reporting from Yuka Obayashi, Tokyo; Jeslyn Lerh, Singapore; Editing done by Lincoln Feast.)
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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 even individual stocks. Airbus Airbus, the European planemaker, posted a second-quarter profit that was higher than expected, thanks to its helicopter and defence units. It also maintained its full-year predictions as it strives to catch up with delayed jetliner delivery. BIC French stationery BIC reported Q2 revenues of 598 millions euros, and is expecting a full-year growth of 0-3%. The company's H1 adjusted EBIT for 2025 was 147 millions euros with a 13.7% margin. BIC's adjusted EBIT margin is expected to be 15.0% in 2025, and its free cashflow to exceed 240 million euro. Elis Elis announced a H1 net profit of 152.5 millions euros and an adjusted EBIT of 358.3 million euros, and confirmed the 2025 financial goals that were communicated in March. Emeis Healthcare operator Emeis announced half-year revenue of 2,91 billion euros. H1 EBITDAR stood at 401 millions euros. The group has confirmed its 2025 guidance. Eramet Eramet, a French mining and metals company, reported a H1 adjusted revenue of 1,528 millions euros with an EBITDA adjusted of 191million euros. FDJ United Gambling company FDJ United has reported revenues for H1 of 1,897 millions euros, and an EBITDA recurring of 441million euros. Klepierre Klepierre increased its outlook for 2025, citing "good performance" during the first half. They now expect a growth of 5% in EBITDA as opposed to 3% before. Renault Renault appointed Francois Provost as its CEO on Wednesday. The company chose a little-known insider for the job to guide it through the growing competition and low demand that led to a profit warning at the beginning of this month. Tikehau Capital Asset Manager Tikehau announced on Wednesday a record net flow of 4 billion euro, an 18% increase year-on-year for the first half of 2025, and a sharp increase in net income. Vinci Vinci reported a H1 revenue figure of 34,852 millions euros and an EBIT of 4140 million euros. The company announced that it will pay an interim dividend per share of 1.05 euro. Guidance remains unchanged. Vusiongroup French tech company Vusiongroup announced H1 sales of 648 million euro on an adjusted basis. This represents a 50% rise compared to H1 2024, and exceeds guidance. The company confirmed its outlook for the full year. Wendel Wendel reported a net profit of 4.3 millions euros for H1 and sales of 4.177.6million euros. The company manages 45 billion euros in assets. The company announced that it would implement a semi-annual intermission of 1.50 euro. 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............ 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)
Motorcycling-Repsol to end 30-year sponsorship of Honda MotoGP group
Spanish oil company Repsol will no longer sponsor the Honda MotoGP team from next season, the Japanese motorbike manufacturer stated on Sunday, bringing the drapes down on the iconic collaboration that lasted three years.
Repsol started sponsoring Honda when they went into Grand Prix racing in 1995 and have actually considering that had enormous success with numerous manufacturer titles and riders champions with greats such as Mick Doohan, Valentino Rossi and Marc Marquez.
With Repsol as the primary sponsors, Honda claimed 15 leading class world championships, 10 leading class group champions, 183 premier class wins and 455 premier class podiums.
After thirty years of cooperation at the greatest level of bike racing, Honda Racing Corporation (HRC) and Repsol will part ways at the conclusion of the 2024 MotoGP world champion, Honda stated in a statement.
Honda HRC and Repsol have taken pleasure in a partnership which has become synonymous with success at the greatest level.
Surpassing sponsorship, it has been a real partnership between both business, striving to continue as the recommendation in Grand Prix motorcycling.
Honda have actually had their struggles after Marquez won the last of his six MotoGP titles in 2019, with the Spaniard missing the entire 2020 season following a crash in the opening race.
The group quickly fell back Italian makers Ducati and Aprilia, with Marquez likewise leaving the team at the end of the 2023 season when he made the switch to Gresini Racing-- which utilizes Ducati devices.
Marquez's departure likewise saw Red Bull cut ties with Honda, who have actually not had a top-10 surface in MotoGP this season from either Joan Mir or Luca Marini.
(source: Reuters)