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Crude Oil

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 quote EUROPE-Forget the soft landing, simply keep flying

A take a look at the day ahead in European and worldwide markets from Wayne Cole. Why bother engineering a soft landing, when you can simply keep flying? That's the message from the U.S. payrolls report, which is likely to raise the Atlanta Fed GDP Now approximate from its already above-trend pace of 2.7%. With the labour market so resistant and inflation receding just gradually, markets may be wondering why the Federal Reserve is alleviating policy at all. A reading above +0.2% for core customer prices on Wednesday could convince futures to begin giving up on even one cut this...

Crude Oil

MORNING quote EUROPE-Looming payrolls keep bond bears starving

A look at the day ahead in European and worldwide markets from Stella Qiu A lot of stocks in Asia are down on Friday, following the lead of Wall Street futures, ahead of the all-important payrolls report, which could press Treasury yields and the U.S. dollar even greater. Both Nasdaq futures and S&P 500 futures were down 0.3%, after U.S. trading was closed over night to mark the funeral service of former President Jimmy Carter. European stock exchange look set for a flat open. That most likely reflects the angst in global bond markets. The benchmark 10-year Treasury yield is...

Crude Oil

MORNING BID AMERICAS-A shock of reality for markets

A look at the day ahead in U.S. and worldwide markets by Amanda Cooper. Trading action so far has actually been controlled by uncertainty over inbound U.S. President Donald Trump's threatened tariffs. However the will he, will not he narrative appearances likely to take a. rear seat as a number of essential metrics on the labour market start. to filter through ahead of Friday's jobs information. The December work report is anticipated to reveal 150,000. workers were added to nonfarm payrolls, below November's. 227,000, which would bring the overall variety of tasks produced in. 2024 to 2.34 million. Leaving out...

Crude Oil

MORNING quote EUROPE-One last hurdle stays for the year

A look at the day ahead in European and international markets from Stella Qiu 2024 is practically over. A number of reserve banks have concluded their final policy meetings of the year - some held consistent and others cut, however all of them were noting a more uncertain 2025 when the international economy and trade might look greatly various with Donald Trump back in the White House. That leaves the U.S. Core Personal Consumption Expenses - the Fed's preferred gauge of inflation - as the one last hurdle before the generally quiet Christmas time. With benefit risks to inflation back...

Crude Oil

MORNING Quote AMERICAS-Wall St near records as central banks end 2024 with rate cuts

A take a look at the day ahead in U.S. and global markets by Samuel Indyk The outstanding year for U.S. stock markets took a bit of a breather on Thursday, perhaps expected after a rally that has led the Nasdaq to 20,000 for the very first time today and the S&P 500 to another brand-new record high. Gains have been driven by optimism over synthetic intelligence and rate-cut expectations, with attention now turning to the Federal Reserve's last policy meeting of the year, beginning next Tuesday. The central bank is most likely to follow up November's 25 basis point...

Crude Oil

MORNING quote EUROPE-Markets keep one's cool as Syria falls in a rush

A take a look at the day ahead in European and global markets from Wayne Cole If you are wondering how markets have actually responded to the sensational fall of President Bashar al-Assad in Syria, the answer is calmly. Gold and oil prices are up around 0.4%, but that's a. modest relocation for such a rapid turn of occasions and there are no. indications of a rush to security. Possibly there's simply excessive going on. in the Middle East for traders to understand how to respond. It would certainly appear to be a bloody nose for Russian. President Putin who...

Crude Oil

MORNING BID EUROPE-Risk-wary markets count down to payrolls

A look at the day ahead in European and global markets from Stella Qiu Threat belief took a hit in Asia on Friday from restored political rumblings in South Korea, rattling investors' nerves as they awaited an important U.S. nonfarm payrolls report that could alter the chances of a Federal Reserve rate cut this month. As soon as markets captured word that there might be another martial law declaration in South Korea, heavy selling hammered the Korean won and the Seoul share market. The won sank by as much as 1%, the KOSPI dived 1.8% at one point and the...

Crude Oil

MORNING quote EUROPE-Bonds rally, dollar dips on Treasury option

A take a look at the day ahead in European and worldwide markets from Wayne Cole Asia has been controlled by the market reaction to the choice of fund manager Scott Bessent as incoming U.S. Treasury Secretary, with the primary feeling one of relief that he's a. mainstream prospect instead of an unidentified. The truth that Bessent talks like a fiscal hawk sufficed to. push 10-year Treasury yields down by 6 basis points, though. whether he will be able to trim deficits while rolling over. due-to-expire tax cuts remains to be seen. In various media appearances he has talked of...

Crude Oil

MORNING BID EUROPE-British inflation set to control before Nvidia

A take a look at the day ahead in European and international markets from Stella Qiu Trading was controlled in Asia with everyone waiting on the revenues results of AI beloved Nvidia, the world's. most valuable company with a market cap of $3.6 trillion. Expectations are running high given that its shares already. rallied 5% over night. Trade in options points to an almost. $ 300-billion swing in market price, which will produce a. possibly untidy trading session ahead. In Asia, shares were blended, with Japan routing behind with. a drop of 0.4%. Wall Street futures were mainly steady and....

Crude Oil

MORNING QUOTE EUROPE-' Trump trades' in complete swing

A look at the day ahead in European and worldwide markets from Wayne Cole. It's been a wild trip in markets with the dollar and Wall Street futures rising while Treasuries took a beating as early results in the presidential election favoured Republican politician Donald Trump. Numerous crucial battleground states were still to be called, but wagering sites greatly favoured Trump and the NY Times real-time projection predicted a 91% possibility of him winning. Experts typically assume Trump's plans for restricted immigration, tax cuts and sweeping tariffs if enacted would put more upward pressure on inflation and bond yields than...

Environment

Climate Change

BBVA increases sustainable finance target by 700 billion Euros

BBVA announced on Monday that it has increased the target amount for lending to sustainable businesses to 700 billion Euros ($732.7 billion). The lender had previously set an initial target of 300 billion euro for the period between 2018 and 2025. Javier Rodriguez Soler is BBVA’s global head for sustainability, corporate and investment banking. He said that the business opportunity in the second half of the decade would be driven by a solid investment in infrastructure, and the maturity of new clean technologies. The growing public pressure to act to curb climate change has prompted countries and companies alike to...

Climate Change

Brazil Soy Lobby tells Growers to Reject EU Anti-Deforestation Rule in Contracts

According to a Friday statement, a powerful Brazilian soy-growing lobby recommends that farmers reject the inclusion of the European Union's anti-deforestation laws in contracts for the purchase and sale of soy. After December 2020, Europe's landmark legislation prohibits the importation of beef, soybeans and other goods that are linked to forest destruction. Aprosoja Brasil's spokesperson revealed that global traders had tried to impose this rule on contracts with farmers in the state of Goias. The group decided then to tell farmers across Brazil not to comply. The group's position highlights the growing opposition in Brazil against measures imposed by other...

Climate Change

Brazil Soy Lobby tells Growers to Reject EU Anti-Deforestation Rule in Contracts

According to a Friday statement, a powerful Brazilian soy-growing lobby recommends that farmers reject the inclusion of the European Union's anti-deforestation laws in contracts for the purchase and sale of soy. After December 2020, Europe's landmark legislation prohibits the importation of beef, soybeans and other goods that are linked to forest destruction. Aprosoja Brasil's spokesperson revealed that global traders had tried to impose this rule on contracts with farmers in the state of Goias. The group decided then to tell farmers across Brazil not to comply. The group's position highlights the growing opposition in Brazil against measures imposed by other...

Mining

Mineral Resources

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

Take Five: the big Trump tariff countdown

The deadline for President Donald Trump to impose tariffs is fast approaching, while the U.S. releases data on jobs and the markets gauge the new AI landscape before major tech companies report. Bank of England is deciding on interest rates, and lenders across Europe are also publishing their results. Kevin Buckland, Saqib Ahmad, Lewis Krauskopf, and Amanda Cooper, in London, provide a guide to global markets for the coming week. 1/T DAY Everyone wants to know the severity of Trump's tariffs. From currency traders and bond investors to Fed officials and other foreign powers. Trump's promise to impose 25% tariffs...

Mineral Resources

European carmakers stocks fall after Trump's inauguration

Shares in some big European carmakers fell sharply on Tuesday on unpredictability over possible new tariffs after Donald Trump took office as U.S. President. Trump did not right away enforce tariffs as previously assured however stated he was thinking about enforcing 25% tasks on imports from Canada and Mexico on Feb. 1 over prohibited immigrants and fentanyl crossing into the United States. European carmakers such as Stellantis and Volkswagen have centers in Mexico which produce cars and trucks for the U.S. market. Stellantis shares fell around 2% by 0813 GMT, while the broader European vehicle sector was down around 1%,...

Mineral Resources

Venezuela AG requests Interpol red notice for opposition's Leopoldo Lopez

Venezuela attorney general of the United States Tarek Saab said on Monday his office has actually asked for an arrest warrant and Interpol red notification versus opposition figure Leopoldo Lopez, who spent years in detention in Venezuela and has actually lived in Spain given that 2020. Lopez has actually slammed the federal government in current days amidst opposition protests to President Nicolas Maduro's third inauguration. Lopez stated on X on Saturday that a proposal from former Colombian President Alvaro Uribe that military intervention was required in Venezuela ought to be seriously. considered. Maduro was sworn in for another six-year term...

Mineral Resources

STOXX 600 muted ahead of inflation data, eyes very first monthly gain in 3

Europe's STOXX 600 opened on a soft note on the final day of an unstable week, with financiers assessing France's political uncertainty and awaiting euro zone inflation data to see if a larger European Reserve bank rate cut is on the cards for December. The pan-European main stock index was flat at 0815 GMT, bracing for its 5th weekly decline in six. The index was still on track for a modest month-to-month gain in three, even though the possibility of Europe being a U.S. tariff target and France's political problems have actually dampened investor belief towards the bloc, to name...

Oil & Gas

McEwen Copper seeks $2.5 bln for Argentina copper mine Los Azules

Canada's McEwen Copper is hunting for financiers to raise $2.5 billion to move on with building of Los Azules copper mine in Argentina, company Vice President Michael Meding stated in an interview. McEwen Copper, part of McEwen Mining, is among numerous international companies seeking to draw out copper in the mountains of northern Argentina, an area mostly untapped for the product due to the nation's hard capital controls and volatile economy. A reward program under President Javier Milei is now spurring activity, including from significant gamers such as miner BHP, after the nation's only copper mine closed in 2018. Los...

Mineral Resources

Heidelberg Products buys US firm Giant Cement for $600 mln

Heidelberg Materials has actually struck an offer to buy U.S. business Giant Cement Holding and its subsidiaries for $600 million, it said on Thursday, the current acquisition by the German company to expand its grip in the United States. The deal, to be finished in the first quarter of 2025, is expected to contribute around $60 million in incomes before interest, taxes, devaluation and amortisation (EBITDA). in the first year of operation, before significant additional. synergies, Heidelberg stated in a declaration. The acquisition ... will even more enhance our cement. footprint in the growing Southeastern U.S. and New England. markets,...

Mineral Resources

Spain's Celsa offers British and Norwegian steel mills to Sev.en GI

Spanish steelmaker Celsa has sold its mills in Britain and Norway to Se.ven GI, the Czech mutual fund said on Thursday, validating an earlier report on news site El Confidencial. A spokesperson for Se.ven GI, owned by billionaire Pavel Tykac, decreased to state just how much the fund had actually spent for the assets after El Confidencial, citing market sources, said the cost tag was 600 million euros ($ 632.10 million). Celsa, Spain's biggest privately owned industrial group, has been working on offering its foreign possessions considering that February under a restructuring strategy. However, its Polish system, its biggest foreign...

Mineral Resources

Europe's STOXX 600 flat in unstable trading; realty weighs

Europe's main stock index closed flat after an unstable session on Wednesday as investors remained on edge over geopolitical tensions between Ukraine and Russia which continued to cast a shadow over the markets. The pan-European STOXX 600 held its ground at 500.53 points. It declined for a fourth straight session - logging its longest losing streak in over 2 months. It touched a three-month short on Tuesday in the middle of an investor rush to safe-haven assets. Ukraine fired a volley of British Storm Shadow cruise rockets into Russia on Wednesday, a day after it fired U.S. ATACMS rockets upon...

Mineral Resources

China's Chery to delay Barcelona production start to Q4 2025, Spanish partner states

Chinese carmaker Chery will postpone the start of car production in Spain to the fourth quarter of 2025, an executive at its Spanish partner Ebro said on Thursday, about a year behind a previous schedule. In September, Ebro already said Chery would delay production at its Barcelona plant, its very first in Europe, till near year from late this year without giving a more exact time. The project has not been cancelled. There has actually simply been a. readjustment, Ebro's chief executive, Pedro Calef, said in an. interview at the plant. We have reasons to think we will have a...

Mineral Resources

India's April-Sept steel imports led by China, govt data programs

India's imports of steel over the period from April to September were led by shipments from China, according to provisional government information evaluated by Reuters on Friday, and the South Asian country stayed an internet importer of the alloy. The world's second-biggest manufacturer of unrefined steel imported 4.7 million metric lots of the ended up metal from April to September, up 42.2% from a year ago, the information revealed. China exported 1.4 million metric lots of steel to India throughout the duration, up 36.7% from a year back. Hot-rolled coil was India's most significant import, comprising 44% of general completed...

Mineral Resources

Steelmaker Acerinox expects weak need to persist into 4th quarter

Spanish steelmaker Acerinox posted a sharp drop in thirdquarter net revenue on Tuesday as a. outcome of a weak stainless steel market in Europe and North. America that it said will likely continue through the fourth. quarter. Its shares fell 4.1% by 0844 GMT, making them amongst the. greatest losers in Spain's blue-chip IBEX 35 index. Net profit dropped 32% to 48 million euros ($ 52 million). on profits down 16% to 1.31 billion euros. Earnings fell regardless of a. 21% increase in output as operations resumed at its steel mill in. Cadiz in southern Spain after a five-month strike....