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French and Benelux stocks-Factors to watch
Below are companyrelated news and stories from France and Benelux which could have an impact on the region's markets or private stocks. EXOR: The Dutch investment holding company published results for the first half of the year with a net possession value of 38.34 billion euros. FRANCE/IRAN: French President Emmanuel Macron informed his Iranian counterpart that an enhancement in bilateral relations might just happen if there was an instant release of 3 French nationals kept in Iran. GAZTRANSPORT ET TECHNIGAZ: The French engineering company got an order from HD Hyundai Samho Co. for tank style of four brand-new LNG carriers. IRAN/NUCLEAR: U.N. nuclear watchdog chief Rafael Grossi said on Tuesday he had actually picked up a greater determination by Iranian authorities to engage with the firm in a more meaningful way after talks in New York, which he wished to travel to Tehran in October. SERVICE 30: The Luxembourg-based business revealed a tactical partnership with UK's public charging operator Connected Kerb to accelerate electric vehicle charging network implementation in the UK. SOLVAY: The Belgium chemical and sophisticated products business revealed consultation to stop production at Salindres website due to continued negative financial efficiency over previous few years. Pan-European market information: European Equities speed guide ... ... ... ... FTSE Eurotop 300 index ... ... ... ... ... ... DJ STOXX index ... ... ... ... ... ... ... ... Leading 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 products ... ... CAC-40 ... ...... Paris items ...... World Indices ... ... ... ... ... ...... Reuters study of world bourse outlook ... ... European Asset Allotment ... ... ... ... ... Reuters News at a glimpse: Top News ... ... ... Equities ... ... ... Main oil report ...... Main currency report ...
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Vietnam's leader Lam meets US corporations, pledges to increase tech economy
Vietnam's President To Lam vowed to expand the country's semiconductors and AI market in meetings with leading U.S. corporations in New york city, as the Communistruled country looks for more investment from tech firms and other American business. In his first see to the United States as Vietnam's. president, Lam is scheduled to consult with U.S. President Joe. Biden later Wednesday. Lam convened with a number of U.S. business, including. tech corporations Apple and Meta, and. monetary companies Blackstone and Warburg Pincus, according. to photos of handshakes with the companies' representatives. published on Vietnam's federal government website. Lam, who is likewise the basic secretary of the Communist. Celebration, Vietnam's most effective task, prepares to meet Google. in the future Wednesday, according to a person familiar. with his schedule, confirming a Reuters report from last week. At the meeting with Lam on Monday, Meta's President for. international affairs Nick Clegg shared prepare for production in Vietnam. of virtual truth glasses, according to Vietnam's federal government. portal. Meta, which has 10s of countless users in Vietnam of its. Facebook social networks, did not respond to ask for comment. At a different service forum, Lam signed cooperation. arrangements with U.S. companies on energy, artificial intelligence. and for an information centre, the government said. Other individuals consisted of representatives of tech firm. Amazon, payment company Visa, durable goods. international Procter & & Gamble and energy firm AES . Lam has made it absolutely clear that his presidency, his. time as general secretary, they're going to grow the tech. economy, Ted Osius, head of the US-ASEAN Organization Council, the. advocacy group which co-hosted the occasion, informed Reuters. In conferences with U.S. business, Lam said Vietnam thought about. digital transformation as a driving force to take the nation. into a new era, according to the federal government portal. Developing the semiconductor and AI markets is ... a. tactical choice and a top priority, Lam said.
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Oil dips on worries China stimulus prepares insufficient to boost need
Oil rates fell on Wednesday as financiers reassessed the ability of China's. stimulus strategies to boost the economy enough to drive more fuel. need growth in the world's largest crude importer. Brent crude futures dropped 17 cents, or 0.2%,. at $75 a barrel by 0415 GMT. U.S. West Texas Intermediate crude. fell 24 cents, or 0.3%, at $71.32 per barrel. Costs rose about 1.7% on Tuesday after China revealed its. most aggressive financial stimulus given that the COVID-19 pandemic,. with interest rate cuts and federal government funding. Experts, however, alerted that more fiscal aid was required. to improve confidence worldwide's second-largest economy and. that deteriorated the initial impact on oil prices. The absence of a more concrete financial approach still instils. some appointments over whether the financial increase can be. continual, stated Yeap Jun Rong, market strategist at IG. Yeap stated there is an overall absence of traction to the. oil market, with trades lower than typical, which is likely likewise. due to a drop in U.S. consumer self-confidence. It fell in September. to its most affordable on 3 years, with particular concern about the. availability of jobs. Still, declining U.S. crude oil and fuel stockpiles provided. some assistance for the marketplace, which has actually typically increased considering that. prices was up to their most affordable because 2021 on Sept. 10. U.S. oil stockpiles come by 4.34 million barrels last. week while gasoline inventories fell by 3.44 million barrels and. extract stocks fell by 1.12 million barrels, according to. market sources citing American Petroleum Institute figures on. Tuesday. A heightening dispute in the Middle East in between. Iran-backed Hezbollah in Lebanon and Israel likewise supported crude. costs, with cross-border rockets launched by both sides. increasing fears of an expanding war in the key producing. region. Hezbollah on Wednesday verified that senior commander. Ibrahim Qubaisi was eliminated by Israeli airstrikes on the Lebanese. capital as Israel announced earlier. Israel said Qubaisi headed. the group's rocket and rocket force. A cyclone threatening the U.S. Gulf Coast has actually altered. course towards Florida and away oil and gas-producing locations near. Texas, Louisiana and Mississippi.
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Iron ore skyrockets on China stimulus, lower global supply
Iron ore futures costs surged on Wednesday, as a fresh batch of policy relieving procedures from top consumer China lifted market sentiment, while lower worldwide supply also lent support. The most-traded January iron ore contract on China's Dalian Product Exchange (DCE) ended morning trade 6.32%. higher at 723.5 yuan ($ 103.11) a metric lot. The benchmark October iron ore on the Singapore. Exchange was 3.23% higher at $97.8 a ton, since 0330 GMT. Iron ore futures rallied on hopes the steps to support. the Chinese realty market would turn around its fortunes,. ANZ analysts said in a note. The stimulus announcement enhanced belief throughout domestic. ferrous commodities markets, stimulating a strong uptick in rates. of imported iron ore on Sept. 24, stated Chinese consultancy. Mysteel. On Tuesday, China's central bank unveiled its biggest. stimulus because the pandemic to pull the economy out of its. deflationary funk and back towards the federal government's development. target. The residential or commercial property market support plan included a. 50-basis-point reduction in average mortgage rate of interest and. a cut in the minimum downpayment requirement, among other. measures. However, experts warned more fiscal assistance was crucial to hit. these goals. We have some doubts that gains will stick, ANZ experts. said. Although the stimulus measures must stop steel market. conditions from getting worse, they are not likely to boost demand in. the short-term, as this year's steel output stays on track to. been available in lower than 2023, ANZ added. Meanwhile, the volume of iron ore deliveries dispatched. globally from 19 ports and 16 mining companies in Australia and. Brazil dropped 4% week-on-week during Sept. 16-22, Mysteel stated. Other steelmaking active ingredients on the DCE leapt, with coking. coal and coke up 5.8% and 5.89%, respectively. Steel standards on the Shanghai Futures Exchange posted. gains. Rebar climbed up 3.4%, hot-rolled coil. advanced 3.03%, stainless steel added 2.16% and wire. rod edged about 0.3% greater.
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Volkswagen begins essential pay talks with unions in shadow of possible plant closures
Effective trade unions and executives at Volkswagen will start talks over pay on Wednesday that are most likely to determine how aggressively Europe's most significant automaker pursues layoffs and possible factory closures in Germany. Tensions at the automaking giant are running high as the spectre of plant closures, unveiled earlier this month, has actually set it on a collision course with the IG Metall union, which has swore strong opposition against any such moves. IG Metall need to likewise work out new labour offers for the core VW brand name's 130,000 employees in Germany, after the group previously this month ended contracts that had protected work at six of its plants in western Germany considering that the mid-90s. Volkswagen argues that high energy and labour costs in Germany, Europe's leading economy, put it at a disadvantage to European peers and Chinese rivals that have actually set their sights on a big slice of the continent's electrical vehicle market. The talks come as Germany's market as a whole is fighting with high costs, labour shortages and increasing competitors, leading heavyweights including BASF and Thyssenkrupp to consider paring back their activities. Other German automakers are feeling the pain too, with Mercedes-Benz and BMW cutting their earnings projections in recent weeks due to weak need in China.
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Gold leaps to tape high on rate bets, weaker US dollar
Gold scaled another high up on Wednesday, enhanced by a softer U.S. dollar and hopes of more interest rate cuts, while investors tried to find new signals on the U.S. rate cut trajectory. Spot gold rose 0.2% to $2,661.53 per ounce, since 0321 GMT. Bullion struck an all-time high of $2,670.43 earlier. U.S. gold futures got 0.3% to $2,686.10. The dollar eased 0.2%, making greenback-priced bullion cheaper for other currency holders. China's most current variety of support measures revealed on Tuesday consist of outsized rate cuts, though it did not specify when the relocations will enter result. Last week, the U.S. Federal Reserve cut rates by 50 basis points and markets see about 62% opportunity of another 50 bps cut in November. After the Fed cut, China's decision to cut rates has increased another round of liquidity and this could see further need going into the gold market by China investors, said Kelvin Wong, OANDA's senior market expert for Asia Pacific. The short term bullish trend stays undamaged with resistance at $2,690 level, followed by another level at $2,710, Wong included. Zero-yield bullion tends to be a favored financial investment in a. low rate of interest environment. Meanwhile, Michelle Bowman stated key steps of inflation. remain uncomfortably above the Fed's 2% target, warranting. caution as the Fed proceeds with cutting rates. Traders wait for Fed Chair Jerome Powell's remarks on Thursday. and U.S. inflation data on Friday for further policy cues. On the geopolitical front, Israeli airstrike in Beirut. killed a senior Hezbollah leader on Tuesday, heightening. worries of a full-scale war amidst increasing cross-border rocket. attacks between both sides. Inflows to gold exchange-traded funds, particularly from. Western financiers, will increase in the coming months, providing. even more support for record-high bullion prices, analysts stated. Spot silver fell 0.5% to $31.97 per ounce, platinum. edged 0.1% greater to $986.85 and palladium shed. 0.6% to $1,050.04.
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US Oilfield Services Firms Form Strategic Technology Alliance
Oilfield Service Professionals (OSP), a provider of oilfield technology and service solutions related to well construction, downhole interventions, and decommissioning, has entered a strategic global technology alliance with Alpha Oil Tools.The strategic alliance provides global access to proven downhole drillable technology that facilitates greater operational efficiency and improved reliability. Specific technologies include the proprietary Hydra-Set Hydro-Mechanical Bridge Plug and Cement Retainer, said to be critical technology in every oil and gas geomarket.“This exclusive, strategic alliance with Alpha is very exciting for OSP. The Hydra-Set Hydro-Mechanical Bridge Plug technology continues to expand our operational capacity in every land, offshore and deepwater market around the world.“By merging OSP’s extensive engineering and downhole service expertise with Alpha’s cutting-edge manufacturing capabilities, we are confident that this alliance will set new industry standards and provide unparalleled value-add to the client,” said Jasen Gast, President and CEO of OSP.“This alliance with OSP represents a significant step forward in our mission to continue the legacy and passion for manufacturing the highest-performing, longest-lasting, and most reliable products in the industry. Together, we will push the boundaries of what’s possible downhole and create innovative solutions that will benefit our customers and the industry as a whole,” added Harvey Sharp, Chairman of Alpha Oil Tools.
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IDOM, RENK Group to Lead Construction of ORE Catapult's New OW Test Facilities
The Offshore Renewable Energy (ORE) Catapult has selected IDOM and RENK Group as preferred contractors to support the development of its new blade testing and upgraded drive train testing facilities.The news follows the $114 million investment ORE Catapult secured from UKRI in May 2024 to expand and upgrade its testing facilities and enable the evolution of the next generation of wind turbines in the UK.IDOM, a multinational provider of professional services in engineering and architecture, will take the lead on the construction of a brand new 150-meter blade test facility that will offer certification testing having been designed to exceed requirements of the next edition of blade test standard IEC61400-23.RENK Group, a German manufacturer of high-efficiency propulsion and drive train technology systems, will lead on the installation of a new test rig at the Catapult’s drive train facility in Blyth, that will see capacity increased from 15 MW to an initial 23 MW.Both blade and drive train capabilities will have the capacity for further expansion, to 180 meters and 28 MW respectively, to meet future industry demand.UK’s Offshore Wind Test Facility Gets $100M Overhaul Boost“The upgrade to our blade and drive train test and validation capabilities is a vital part of our future roadmap, a critical contribution to UK's Net Zero and Energy Security Strategy and is much needed by the sector to facilitate a rigorous approach to wind turbine technology development.“Following a robust procurement process, we are delighted to be working with IDOM and RENK during the pre-construction phase of this project as we work through the fine details of how to deliver two such critical projects side by side,” said Tony Quinn, Director of Technology Development at ORE Catapult.These late-stage research and development facilities, combined with ORE Catapult’s extensive expertise in test and demonstration, will ensure that turbine manufacturers can accelerate their technology development in the UK with reduced risk and enhanced reliability for a new wave of larger, more efficient machines.
Vertex Energy applies for personal bankruptcy, checks out sale
Vertex Energy has declared personal bankruptcy in a Texas court, just months after it paused sustainable diesel output at an Alabama refinery over macroeconomic problems, the U.S. refiner stated on Tuesday.
Vertex stated it will likewise explore a sale as part of a. restructuring arrangement with its lending institutions.
The business is set to receive $80 million from. Debtor-In-Possession (DIP) funding from lending institutions to fund. personal bankruptcy proceedings and continue operations, the refiner stated. in a statement.
In May, Vertex paused sustainable diesel production at its. refinery in Mobile, Alabama, pointing out macroeconomic issues which the. company stated may continue through next year.
Renewable diesel can fully replace standard diesel,. but it is far more pricey to make, and therefore, depends on. federal government blending requireds and aids.
A number of U.S. companies rushed to convert refineries into. eco-friendly diesel plants in the last few years, banking on greater. need for the fuel from governmental policies developed to speed. the transition away from nonrenewable fuel sources.
This has led to a supply excess, outmatching need for. low-emmission biofuels.
(source: Reuters)