Switzerland

Trafigura, a global commodity trading firm, announced?on Thursday?it?had?signed an offtake agreement with Heath Goldfields Ltd., a Ghanaian-owned mining company. The deal was to purchase 700,000 ounces gold dore at the Bogoso Prestea mine located in western Ghana. Trafigura said in a press release that it would provide $65 million of debt financing in addition to the?offtake in order to support the restart of oxide ore mining operations at the mine. Trafigura stated that it would 'act as an offtaker of gold dore' (a'semi processed gold product? )?generated at the Bogoso Prestea processing facility. Deliveries are expected to begin later this...

Trafigura has not ceased its contracts with Bolivia's oil and gas state company YPFB, a spokesperson for the company said on Thursday. The company was rejecting a claim made by Bolivian Energy Minister Mauricio Medinaceli. Medinaceli announced on Tuesday that Bolivia will suspend its gasoline contracts Trafigura, and with rival trading house Vitol, until the investigation into the alleged smuggling of poor-quality fuel from Chile is completed. Later, on Thursday, YPFB confirmed its main supply contracts are still in effect, ensuring a?continuity of supply. The state-owned company has announced that it has signed an addition to its existing contract with...

When the world was faced with a sudden surge in inflationary forces in 2021-22 due to a severe shock in supply and spikes in energy prices, all major central banks reacted?together. This is unlikely to happen again. Five years ago, supply disruptions caused by pandemics led to a united - but belated cycle of interest rate hikes among the world's largest central banks. This cycle accelerated in response to the skyrocketing prices of energy triggered by Russia’s invasion of Ukraine. By the time the European Central Bank raised rates in July 2022 (and the Bank of Japan did not), every...

The Iran War and the 'global energy shock' it unleashed could have put an end to the idea that there is a safe-haven investment for everyone. It's not a novel concept given the poor performance of U.S. Treasuries after Russia invaded Ukraine in 2004. The extraordinary fall in gold prices'since the U.S. and Israeli strike on Iran on 28 February' has brought it into the spotlight. In times of economic, geopolitical or financial instability, investors flock to assets like Treasuries. The dollar, Swiss Franc and especially gold. These are the assets that will most likely serve as a safe haven...

The Iran War and the global energy crisis it unleashed could have "killed" the idea of an asset that fits all. It is not a novel concept given the poor performance of the U.S. Treasuries did well after the Russian invasion of Ukraine four years earlier. The extraordinary fall in gold prices since the U.S. and Israeli strike on Iran, February 28, has brought it into the spotlight. In times of increased economic, geopolitical or financial uncertainty, investors tend to flock to gold, Swiss franc, Treasuries and the dollar. These are the assets that will most likely serve as a...

dsm firmenich, a European chemicals manufacturer, said on Thursday that it 'expects a slightly... higher adjusted core.profit margin % in 2026. It also said it is focusing on accelerating its growth for the next fiscal. The group stated that "macro-economic issues experienced in the second half 2025 continued into the first quarter of 2026. These include cautious consumer demand, and adverse FX effects." The group expects to achieve an adjusted earnings before interest taxes, depreciation, and amortization (EBITDA), margin of 20%. This is slightly higher than the 19.6% reported by the company last year and beats?the same figure?expected in average...

CEO Flemming Ornskov stated on Thursday that 'Galderma continues to see the Middle East as a 'attractive market. The conflict in the region is unlikely to have any major impact on the Swiss skincare firm because it only represents a small part of their business. Ornskov stated that less than 2% (of Galderma's) business is currently located in the Middle East. However, the company has made efforts to expand in this region, highlighting its recent entry into Saudi Arabia, and expansion in United Arab Emirates. He said that Galderma was pursuing its plans in the region, citing that there were...

Investors paused on Wednesday to re-energize themselves after a global stock market crash that sent the benchmark index plummeting more than a month ago amid fears of a prolonged and widened conflict in the Middle East. By 0810 GMT, the pan-European STOXX 600 index was up 0.6% to?607.62. Since Friday's record high, the index has lost nearly 5%. The travel and luxury stocks that were at the forefront of this sell-off were each up by more than 1%. The index was boosted by the technology and healthcare sectors. Vistry fell 22% after the UK homebuilder announced that Greg Fitzgerald, its...

The safe haven currencies of the Swiss Franc and Japanese Yen strengthened, while 'the euro' fell as trading resumed following a weekend in which?the United States and Israel launched their most ambitious attack on Iran since decades, killing Supreme leader Ayatollah Khamenei. In late New York trading on Friday, the euro fell 0.34% to $1.1776 from around $1.18. The euro also dropped 0.5% against the Swiss Franc, to 0.9039 - its lowest level since 2015. The dollar dropped 0.26% against the yen, and was down 0.3% lastly against the Swiss Franc. The greenback was stronger against the Australian dollar and...

Safe haven currencies like the Swiss franc, Japanese yen and the euro strengthened as currency trading returned after the weekend when the United States and Israel launched their most ambitious attack on Iran since decades, killing the Supreme Leader Ayatollah Ali Khamenei. It dropped by 0.34%, to $1.1776, compared to around $1.18 at the end of New York trading on Friday. The euro fell by 0.5% against the Swiss Franc, to 0.9039. This is its lowest level since 2015. The dollar dropped 0.26%, to 155.65yen. However, the greenback gained against sterling and Australian dollars. U.S., Israeli, and Iranian strikes, as...

On Wednesday, top business leaders called on the European Union to take urgent action to lower energy prices. They said that this was crucial for European industries to be able to compete with the U.S. The message from the industries was timed to land just before EU leaders meet in a Belgian Castle on Thursday for a "retreat". They will discuss how Europe can compete with China and America economically. In a written declaration, CEOs from the city of Antwerp stated that the next five years would be the most challenging in Europe's industrial history. The outcome of the crisis...

Trafigura, a trading house, has sold its first shipment of Venezuelan crude oil, as part of an agreement between Caracas, Venezuela, and Washington for the supply of 50 million barrels of oil. The Spanish refiner Repsol is expected to receive a shipment of this quantity. Two sources stated that the cargo should be delivered to Repsol by mid-February. Trafigura and Repsol have declined to comment. The agreement would be one of the first to sell Venezuelan oil in Europe since the United States captured Venezuela's leader at the beginning of this month, and struck an agreement with Caracas for the...

Copper prices soared to a record high of three weeks on Wednesday, after the?U.S. President Donald Trump has agreed to a?ceasefire? with Iran for two weeks, which will ease fears of an economic slowdown in the world as a result of the Middle East conflict. In open-outcry trading, the benchmark three-month copper price on?the London Metal Exchange rose 2.7% to $12650 per metric ton. It had previously risen as high as 3.6%, to $12,755.50. This was its highest level since March 18. In March, copper prices fell 7.6% due to economic concerns sparked by war in Iran. Trump stated that...

The price of aluminium rose on Tuesday, and the key spread for the metal on the London Metal Exchange also increased. This is due to the prolonged repairs that a smelter located in the United Arab Emirates has been facing since an Iranian attack late last month. In official open-outcry trade, the three-month contract for aluminium on London Metal Exchange (LME), gained 1.1% and reached $3,507 per metric ton. Emirates Global Aluminium announced on Friday that it could take up to one year to fully restore production at its Al Taweelah Smelter. The smelter produced 1.6 millions tons of cast...

Copper prices fell on Thursday for the first time in five sessions, as investors grew more concerned about economic growth following Donald Trump's promise to continue a flurry of strikes on Iran. Open outcry official activity on the London Metal Exchange showed that benchmark three-month copper was down 1.6% to $12,235.50 a metric tonne. The metal is considered to be a bellwether of the global economy and was expected to finish the Easter holiday-shortened weekend up 0.4%, after a run of four consecutive daily gains. "Copper is trading like a risk asset that's sensitive to macroeconomics, moving in line with...

The copper price rose on Wednesday, reaching its highest level in the past two weeks amid hopes that the Iran war may be nearing an end. Open-outcry official trading on the London Metal Exchange saw benchmark three-month copper rise 0.2% to a metric ton of $12,365 after hitting $12,492.50 - its highest level since March 18. This was copper's fourth consecutive session of gains. However, it is still far below the record high of $14,527.50 that was reached on January 29, 2017. Ole Hansen is the head of commodity strategy for Saxo Bank, Copenhagen. "The market wants us to believe...

Aluminum prices rose on Tuesday. They were near their four-year highs and poised to make the biggest monthly gain since?almost 2 years. This was due to fears that a supply shortage would continue after Iranian strikes over the weekend damaged some of the Gulf's key smelters. The benchmark 'three-month' aluminum on the London Metal Exchange increased 2.1% by 1600GMT to $3,471.50 per metric ton, after earlier reaching $3,536, which was its highest level since March 12. Metal prices are up 10.6% in March. The attacks on Iran damaged two aluminum plants in the Gulf region operated by Aluminium Bahrain, and...

Prices of copper and aluminium fell on Friday as U.S. president Donald Trump extended the deadline for striking Iran’s energy plants. Markets appeared skeptical?about the prospects?of an agreement?between the two sides. In official open-outcry trade, the benchmark three-month price of copper at the London Metal Exchange fell by 0.3% to $12,115 per metric tonne. Since the U.S. and Israeli war against Iran began on 28 February, copper, which is widely used for power and construction has fallen by 9%, threatening economic growth and causing inflation. Macquarie analysts stated in a research report that "prices lack fundamental support, and are expected...

Schindler's head, who is Swiss, told? The head of the Swiss lift maker told? Bloomberg News reported last week that TK Elevator, a subsidiary of?Finland?s?Kone?was in negotiations to purchase TK Elevator? (TKE), citing people familiar with the situation. The merger would make Schindler the second largest lift manufacturer in the world, surpassing OTIS. Schindler CEO Paolo Compagna stated that the deal would be a 'bloodbath' bound to disrupt industry as the third- and fourth-largest manufacturers of lifts would have to integrate overlapping customer bases and production sites, and also?teams. Compagna stated in the interview that she was sure that they...

London copper fell on Tuesday after Iran denied holding talks with the U.S. about ending the Middle East war and launched new missile attacks against Israel. In official open outcry, the benchmark three-month copper price on London Metal Exchange fell 1.6% to $11,974 per metric tonne. Metal prices rose 2% after U.S. president Donald Trump said that he had "very productive" talks with Tehran, and had postponed the threatened strikes on Iranian energy infrastructure. EwaManthey, ING commodities strategist, said: "Copper has eased today following yesterday's rebound as geopolitical confidence faded." The rise in oil prices and the strengthening dollar have...

Aluminum fell on Friday as the dollar gained strength, but shipping disruptions due to the ongoing Middle East conflict kept it on track for a weekly rise. Open outcry official activity showed that benchmark three-month aluminum?on London Metal Exchange was?down by 0.9% to $3,485.50 a metric ton. The metal was set to finish the week with a 1.3% gain after reaching a near four-year high Thursday. Last week, the metal jumped 10%. Tom Price, Panmure Liberum's analyst, said that the dollar was "the biggest mover." The dollar rose to its highest level in more than three months on Friday, as...

Cemex, the Mexican cement manufacturer, announced on Wednesday that it will be selling some assets in Colombia. It expects this to bring in $555 million. Cemex said in a press release that Holcim would buy a cement mill, a grinding plant and a portfolio of other plants from them for $485m in a deal expected to close before the end of the year. The cement manufacturer said that it is in talks with unidentified parties about other assets worth around $70 million. Media reported that Cemex was 'looking to exit Colombia' after its sales in Central America and the Philippines...

According to three sources, the commodity trader Mercuria intends to remove large volumes of aluminum from LME storage facilities, as the closure of the Strait of Hormuz has 'frozen' Middle East shipments, and put further pressure on supplies in Europe, and the United States. Around 9% of global primary aluminium is produced in the Middle East. Since last week, the U.S. and Israeli war on Iran has closed the Strait of Hormuz. Mercuria, a Swiss company, cancelled or designated for delivery on Monday nearly 100,000 tons?of aluminium in LME-approved Port Klang warehouses. The sources who are familiar with the issue...

The iron-ore pellet manufacturer?Ferrexpo warned on Monday of "material 'negative consequences" unless they secure alternative?banking agreements after a collapse in a Swiss banking partner MBaer, which sent shares down 4%. Ferrexpo AG's Swiss subsidiary (FAG), had a banking arrangement with MBaer Merchant Bank AG. The bank is slated to be closed by the Swiss financial regulator for alleged money laundering violations and breaches of sanctions against Iran and Russia. Ferrexpro used the bank for 'commercial payments outside Ukraine' and said that MBaer holds about $3 million with FAG. Ferrexpo stated that the collapse of Ferrexpo's Ukraine subsidiaries will not have...