Switzerland

Israel and Hezbollah reached a ceasefire agreement in Lebanon on Friday, after an escalation of fighting in Lebanon threatened the chance that an interim deal to end the war in Iran would become a lasting Middle East Peace Deal. U.S. - Iran talks?in Switzerland scheduled for Friday have been cancelled due to the fighting in?Lebanon. This has created new uncertainty regarding the timing of the negotiations crucial to ensure that the Strait of Hormuz is reopened to global shipping. Just before 4 pm, Lebanon time (1300 GMT), a senior U.S. government official announced that a ceasefire was to be implemented...

El Nino could cause cocoa prices to rise by several thousand pounds per metric tonne, according to the chief executive of Barry Callebaut, one of 'the world's leading cocoa processors. El Nino, an 'climatic pattern that can increase temperatures and increase risk of extreme weather conditions, could reduce the yields of crops, including cocoa. This would limit supply and push up prices. Hein Schumacher, CEO of Hein Schumacher, said in a press conference that the prices shouldn't jump as much as they did over the past couple of years. London cocoa futures are trading at PS2,944 per ton ($3,964), down...

European shares fell on 'Thursday, after a steep rise?in the prior session. Investors analyzed?progress toward a U.S. Iran peace deal which pushed crude oil prices sharply down. STOXX 600, the pan-European index of stocks, ended up 1.1% lower than it was on Wednesday after gaining more than 2%. The majority of regional bourses in France, Germany, and Britain also declined. European energy stocks fell 2.5% when crude oil dropped below $100 per barrel. Shell fell 2.9%, despite exceeding first-quarter profits estimates and increasing its dividend by 5%. Sources and officials reported that oil prices were under pressure when?the U.S. &...

Lanxess predicts that oil prices will remain high for the next few months, and warns that the soaring energy costs are likely to continue to impact the chemical sector after the Middle East conflict disrupted the fuel and feedstock market. CEO Matthias Zachert stated that the company expects oil prices to stay in the $100 to $110 range per barrel for the next few months. He added that Lanxess would pass on the higher costs by increasing the price. He also said that the pressure of Chinese competition in Europe is starting to?ease as higher energy prices?hit Asia more than?Europe....

Three sources with knowledge of the matter said that Mercuria sold aluminum in Europe at a price below what was assessed by the price reporting agency Fastmarkets. This suggests the global benchmark may not always reflect the prices buyers are willing to pay. The price of European aluminium has risen following the Iran War, which disrupted Middle East supplies. Fastmarkets is used widely by both producers and consumers for large-volume trades of aluminium, which is used in construction, packaging, and transport. A source said that Mercuria had failed to get bids when it attempted to sell aluminium earlier this month...

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 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...

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...

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 president of Lithium Argentina said on Thursday that Chinese miner Ganfeng Lithium and its Swiss partner Lithium Argentina were 'looking for a third investor to finance the Pozuelos - Pastos Grandes Lithium project in northern Argentina. The "Lithium Triangle" is composed of Argentina, Chile, and Bolivia. This triangle contains the world's largest reserves of white metal for use in batteries and electric vehicles. Argentina is the fourth largest lithium exporter in the world. Ignacio Celorrio, of Lithium Argentina, stated that the Pozuelos - Pastos Grandes Project in Salta province is expected to produce 150,000 tons of lithium each year...

European shares opened on Wednesday with a muted tone as investors awaited the details of a pending U.S. Iran peace deal and Federal Reserve's outlook for monetary policy. Auto stocks also fell following BMW's cut to its annual forecast. The pan-European STOXX 600 Index edged up 0.05% to 636.29 by 0710 GMT. BMW dropped 7.3% as the premium 'carmaker' lowered its profit forecast due to the weakness of the Chinese market and the impact of the Iran War. Separately a survey revealed that German automotive suppliers expect business conditions to worsen in the coming year, outnumbering the industry's optimists. This...

The World Gold Council said on Tuesday that a record 45% (up 2 percentage points) of reserve managers, who were surveyed, expect to increase the gold held by their institutions over the next 12 months. The majority of central banks -- 54% -- who responded to WGC's survey conducted between February 5, 2005 and May 19, 2005, said that their holdings will remain the same, while only 1% expect a decrease. The majority of responses came after the Middle East conflict began in late February. This triggered an increase?in the price of oil and drove down the gold price. Shaokai...

A recent Indian official investigation of gold company Rajesh exports has alleged the company overstated the revenue of its Swiss refinery unit Valcambi by $159 billion. This is a figure that's never been seen in any of the country's previous accounting investigations. The extent of alleged misreporting released by the'markets regulator' on Wednesday has raised questions about how investors and analysts could have missed it, especially since India's state run insurance giant LIC owned 11% of the firm. Rajesh Exports denies any wrongdoing. In a Friday exchange statement, Rajesh Exports said that "the main point misinterpreted in regard to revenues...

World No. World No. The agreement, announced last October, will allow Holcim to diversify into the 'growing European refurbishment market, worth approximately 250 billion euros per year. Holcim made an offer last month to sell certain assets to the European Commission. As part of the European Commission’s review of Holcim’s acquisition of Xella in Romania,?Holcim has offered to sell its standalone Adjud autoclaved aerated concrete business (AAC) in?Romania pending the regulator’s test of market," the statement said. Prior to this, the imminent EU approval as well as the proposed sale of Romanian business had not been reported. Zug, Switzerland-headquartered Holcim...

On Wednesday, copper prices reached their highest level since mid-May, as lower oil prices eased inflation worries for the metal that is vital to growth. Aluminium prices remained 'near 4-year highs' amid concerns about reduced supply in the gulf region. The price of three-month copper at the London Metal Exchange dropped 0.2% in open-outcry official trading to $13,597 per metric ton after reaching $13,746, which was its highest level since May 15. Aluminium fell 0.3% to $3.663, after reaching its four-year peak of $3.707.50, on Tuesday. The Iran War has hampered deliveries in the Middle East. September alumina contracts in...

Aluminum prices reached their highest level in over four years on Tuesday as rising feedstock prices, alumina,?added?to persistent concerns?about a tightening?market amid a?reduced supply from Gulf producers. The London Metal Exchange's three-month aluminium rose by 1.4%, to $3,698.50 at 0937 GMT, after reaching $3,707.5. This is the highest level since March 24, 2020. On March 7, 2022 the metal reached a record high of $4.073.5, as markets grappled with the immediate aftermath of Russia's invasion in Ukraine. A 5% increase in September alumina contracts on the Shanghai Futures Exchange, which rose to their highest level since early May due to...

The dollar and oil prices fell on Monday, as a result of hopes for a possible peace agreement between the United States and Iran. This eased fears about inflation and an economic slowdown. By 0845 GMT, the most traded copper contract at the Shanghai Futures Exchange had gained 1.1%, to 105.650 yuan (15,548.76 dollars) per ton. We are hearing some good news about the conflict. Soni Kumari, an ANZ analyst, said that the positive market sentiment is a result of this. The Middle East conflict has caused supply disruptions, which have a negative impact on the demand for base metals....

The dollar and oil prices fell on Monday, as hopes of a possible peace deal between the United States and Iran grew. This eased fears about inflation and an economic slowdown. By 0552 GMT, the most traded copper contract at the Shanghai Futures Exchange had gained 0.9%, to 105.370 yuan (15,507.56) per ton. "We're getting positive news about the conflict." Soni Kumari, an ANZ analyst, said that this is good news for the industrial metals market. The Middle East conflict has caused supply disruptions, which is why metals demand remains strong, according to Kumari. Oil prices fell below $100 per...

Copper prices rose on Monday, as the dollar and oil fell in anticipation of a possible 'peace agreement' between Iran and the United States. This eased fears about inflation and an economic slowdown. The Shanghai Futures Exchange's most traded copper contract rose 1.1%, to 105 590 yuan (15,539.93 dollars) per ton. Oil prices fell below $100 per barrel as oil traders awaited the announcement of a U.S. Iran deal to reopen Strait of Hormuz. The Middle East conflict has caused energy prices to rise sharply, raising inflation fears and changing the outlook for global interest rates. Hopes of a peaceful...

Copper prices rose Friday, as falling inventories overshadowed expectations of seasonal muted demand from China's top metals consumer and uncertainty about progress in U.S. Iran peace talks. In open-outcry official trading, the price of a metric ton of three-month 'copper' on the London Metal Exchange rose 0.6% to $13,599 per tonne. Copper stocks available in LME registered warehouses LME data daily showed that the price of crude oil fell to its lowest level in 10 weeks after 53 325 tons had been earmarked for shipment. COMEX traded at a higher price than the LME benchmark, as the market waited to...

Copper prices eased on Thursday due to concerns over the'slow progress of the U.S. in negotiating a peace agreement with Iran and a possible 'weaker demand for metals from a prolonged war. The benchmark three-month copper price on the London Metal Exchange fell 1.3%, to $13,480 per metric ton during the official open-outcry trade after rising by 1.8% the previous session. LME copper is up 8% for the year, but it has fallen from its high of $14,196.50 last week. Ewa Mnthey, commodities strategist at ING, said: "For the moment, geopolitics are setting the tone. But without a clear catalyst...