Switzerland

Oil prices have risen to $100 per barrel, the highest since July, after a new round of back-and forth in the "Iran War". Meanwhile, the U.S. has banned some Canadian imports, the latest salvo in a spiraling trade dispute. Brent crude prices have risen to three-year-highs and natural gas prices are also up. This is because Iran has attacked U.S. base again on Wednesday, in response to U.S. destructions of some of its oil tanks. Iran-backed Houthis attacked energy facilities and Saudi Arabian cities on Tuesday. The traffic through the Strait of Hormuz is once again at a crawl as...

The calm on global markets was broken Monday and Tuesday as U.S. stocks returned from Labor Day holidays. A fresh surge in the Japanese yen brought it to its highest levels since February. This move was more of a repositioning before what appears to be a 'near certainty' Bank of Japan rate hike next week. The case for a BOJ interest rate increase was strengthened on Tuesday following an upgrade of Japan's second quarter GDP estimates, and the largest annual rise in real wages since five years. Recently, there have been rumors that the BOJ may consider a rate increase...

What is important in U.S. markets and global markets today By?Mike Dolan Editor-at-Large for Finance and Markets As September begins, the world markets are preparing for another storm of government bonds. Following Kevin Warsh’s Jackson Hole speech, U.S. Treasury rates climbed?across curves, with the benchmark 10-year borrowing rate reaching its highest level since Donald Trump took office in January of last year. Below, I'll explain more. Listen to the Morning Bid Daily Podcast, which discusses the bond rout, and Shein's poor IPO. Subscribe to the podcast and hear journalists discussing the latest news in finance and markets seven days a...

Government data released on Thursday showed that oil product inventories in Asia’s fuel trading hub, Singapore, had rebounded to three-week highs, with stocks increasing week over week. Enterprise?Singapore data showed that combined onshore inventories reached?39.18m barrels for the week?ended august 26. This was?up 4.0% compared with a week before. The markets remained attentive to Middle East discussions around the Strait of Hormuz, which transported oil and LNG equal to about one fifth of global consumption prior to the U.S./Israeli war against Iran. The RESIDUAL FUEL STOCK RETURNS TO A MASS OF 19 MILLION BARRESLS The residual fuel stockpiles rose for...

What's important in U.S. and Global Markets Today By Mike Dolan, Editor at Large, Finance and Markets Bond storm calmed down overnight, but equity markets were still bruised. A tense calm is hanging over the markets as U.S. Treasury prepares for a sale of 20-year bonds later on Wednesday. The minutes of the Federal Reserve split meeting held in July could also help to resolve some of this uncertainty about the central bank's view on persistently high inflation. Below, I'll go into more detail. Check out my mid-week article, in which I discuss diversification away from AI, and much more....

What's important in U.S. and Global Markets Today By Mike Dolan, Editor at Large, Finance and Markets The July consumer inflation report was not spectacular, but it did offer some relief to the markets who were worried about a surprise on the upside. The annual headline and core rates were lower than expected. However, the core price increase for July was higher than forecast. Below, I will get to that and more. Check out my latest article, which explores AI's impact on inflation and employment so far. Listen to the most recent episode of Morning Bid, the daily podcast. Subscribe...

What's important in U.S. and Global Markets Today By Mike Dolan, Editor at Large, Finance and Markets Brent crude traded at almost $90 per barrel on Tuesday, after a 5% increase yesterday. The U.S.'s and Iran's hard-line positions on any potential deal have shattered hopes that the Strait of Hormuz could reopen. Below, I will go into more detail. Check out my column about Trump's latest attack on the independence of the Federal Reserve - and how it comes at a nervous time for bond markets. Listen to the Morning Bid podcast where we talk about Nvidia's $500 Billion AI...

Singapore's oil product stocks, Asia's "key fuel trading hub", registered their first weekly increase since June 24. This was due to a rise in the light distillate and residue fuels inventories that offset a decline in middle distillate stockpiles, according to government data. Enterprise Singapore's data shows that total onshore oil products stocks increased to 39.455 millions barrels from 37.952million barrels the previous week. RISE OF LIGHTS AND RESIDUAL FUELS The inventories of light distillate, which includes naphtha, gasoline and other fuels, rose for the second week in a row to 12.539 millions barrels during the week ending August 5....

What is important in the U.S. and international markets today by Mike Dolan Editor-at-Large of Finance and Markets The yen strengthened further on Monday, as the U.S. government and Japanese government confirmed their first joint interventions since 2011 to "prop up" the ailing currency. The timing and the impact of this move will be closely examined. Below, I'll go into more detail about that. Listen to the latest episode of the Morning Bid podcast. We discuss the 'historic' intervention, U.S. earnings growth, and the latest news on Iran. Subscribe to the Morning Bid daily podcast and hear journalists discussing the...

What's important in the U.S. and Global Markets Today By Mike Dolan. Editor-at-Large for Finance and Markets On Wednesday, the Federal Reserve maintained its line, but three policymakers voted "for a hike", the largest dissent since 1970 against a new Fed chairman. It is easy to see why the markets were so uncertain. The Fed's decision to "hold" did not reassure the markets. 30-year borrowing rates have risen to their highest level in 19 years, and the yield curve has steepened, suggesting that traders are worried about the Fed tolerating above-target inflation for the long run. Below, I'll go into...

What's important in the U.S. and international markets today by Mike Dolan Editor-at-Large of?Finance and Markets Chip stock corrections accelerated again over night amid concerns about circular financing and rising competition. The correction comes before a series of crucial earnings reports by tech companies in Wall Street and Asia - as well as a further drop?in oil price below $90 per barrel amid a tense pause?in the Iran conflict. Below, I'll go into more detail. Check out my most recent column where I discuss the various inflationary drivers central banks are increasingly struggling to "see through". Listen to the Morning...

Mike Dolan, Editor at Large, Finance and Markets, explains what matters today in U.S. markets. Alphabet's capital expenditure increase and earnings beat triggered a familiar response - the stock of Alphabet fell, while chip stocks rose. The hyperscaler beat the Street by posting more than 80% in its cloud business. However, it raised its capex expectations yet again, with AI-related investments now expected to exceed $200 billion this year. Below, I'll delve deeper into that and much more. Check out my most recent column about how the U.S. economy's K-shaped scale explains its resilience. Listen to the Morning Bid podcast...

Copper prices reached record levels on Wednesday due to a shortage of supplies in the United States. As 'hostilities' in the Middle East flared, concerns were raised about global demand and growth. The price of three-month copper at the London Metal Exchange fell 0.5% by 1045 GMT to $14,641 per metric ton after reaching an all-time record high of $14 779 on Tuesday. After the escalation of attacks by Iran and the U.S., oil prices soared above $100 per barrel. This is a six-week high. Ewa Manthey is a commodities?strategist with ING. She said that copper?is easing off record highs,...

The 'price of copper' continued to rise on Tuesday. It reached a record high on speculative purchases on the backs of tight supply outside the U.S. and weak mine production. In open-outcry official trading, three-month copper on the London Metal Exchange rose 1.3% to $14,503 per metric ton, breaking the previous record. LME copper is up 18% in this year. This is largely because a large amount of metal has been moving to the U.S., anticipating?tariffs to be imposed on refined copper. Alice Fox, an analyst at Macquarie, stated that falling inventories outside of the U.S. - including in China...

The dollar was weaker on Monday and the prospects of shortages outside the U.S. boosted the price of copper. The traders said that the U.S. holiday meant volumes would be muted and that they were focusing on copper and zinc. The benchmark copper price on the London Metal Exchange was 0.2% higher, at $14.443 per metric ton. It reached $14,467 earlier in trade, its highest level since January's all-time high of $14,527.50. Since President Donald Trump proposed import tariffs last February, traders and producers have shipped large amounts of copper to the U.S. Comex copper stock levels are at a...

The price of copper rose on Monday as a rise in the number of cancelled warrants and metals marked for delivery at the London Metal Exchange stimulated buying. Meanwhile, the lower U.S. dollar boosted the positive sentiment towards industrial metals priced in dollars. Benchmark 'copper' on the LME was 0.2% higher, at $14240 per metric ton. Last week, prices of metals used in construction and power industries reached $14,396. This is the highest price since January's $14,527.50 high. Industry sources say that the cancellations 0#MCUSTXLOC> are mostly stored in LME warehouses in Asia and the U.S., in free-trade zones. They...

James Hardie, a fibre cement manufacturer, announced that it would sell its European sustainable walling solutions and flooring business, Fermacell to Swiss building material supplier Holcim, for 840 millions euros ($980.78million). The Dublin-based company will also?close its European fibre cement businesses subject to the usual legal and regulatory requirements. The CEO of James Hardie Aaron?Erter said that the planned closure of European fiber cement will allow us to focus our efforts on the highest growth and returns opportunities. Last year, the company faced an unprecedented purge of its Board after investors, angry by its $8.75 Billion takeover of U.S. Building...

Europe's blue chip earnings forecasts rose for the ninth consecutive week as a broadening recovery, beyond the surge in energy profits, pushed them higher. Most reporting companies exceeded analyst expectations during a historically strong season. LSEG data on Wednesday showed that companies?in STOXX 600 are expected to report an aggregate earnings increase of 24.1%. This is up from the 23.4% estimate last week. 59.9% out of 282?firms have already exceeded the estimates. Energy companies are still expected to lead the index, with a profit increase of 138.6%, but as the Iran War continues to disrupt international crude markets, the corporate...

Aluminium prices rose on Monday for the sixth consecutive day, reaching their highest level in nearly seven weeks, as exchange inventories continue to deplete. Open outcry activity on the benchmark?three-month aluminum at the?London Metal Exchange increased by?1.2% to $3,320 per metric tonne. The price of aluminium on the London Metal Exchange had earlier reached $3,336.50 - its highest level since June 23. Ewa Mnthey, ING commodities analyst, said that the recent rally of copper, which reached a six-month peak last week, has reinforced a bullish sentiment in industrial metals. She added that "Aluminium fundamentals are still supportive with low exchange...

The price of copper remained above $14,000 on Friday, as tighter inventories and?supply worries put the metal in a position to have its best week in nearly three months. Traders?awaited the news from the?mining panel convened by the?U.S. Donald Trump, President of the United States. In official open outcry, benchmark three-month copper at the London Metal Exchange fell 0.1% to $14.090 per metric ton. The copper price was set to end the week with a 2.2% gain, its biggest weekly gain since the week of?May 8th. LME copper reached a six-month peak of $14,369.50 after reports that the Democratic Republic...

Gary Nagle, the CEO of Glencore, said that the company had?taken an provision relating to Radiant World. However, he added that Glencore's exposure towards the iron ore trading firm was not significant. We have some existing contracts that still need to be completed. Nagle said on a conference call that they are assessing how to deal with them in a legal manner. However, we have stopped doing any new business. Bloomberg reported that last week, fellow trading houses Vitol and Cargill had stopped doing business Radiant World because they were concerned about the validity of invoices sent to their banks....

Here are a few of the main factors that could affect Swiss stocks on Monday. BUSINESS STATEMENTS HOLCIM - AG Swiss building materials'supplier HOLCIM said?on a Sunday that it planned to sell its Philippines business in a deal worth at least $807 millions to China Huaxin Building Materials. NOVARTIS FDA approves 'pluvicto' for PSMA+ metastatic prostate cancer with hormone-sensitive metastatic (MHSPC). This could be a?new standard in metastatic disease. Analysts' Views COMET HOLDING AG: Berenberg increases target price from CHF 480 to CHF 490- COMET?HOLDINGAG: JP Morgan increases?target to?CHF565 from?CHF500 BUCHER INDUSTRIESAG: Berenberg reduces target to CHF360 from CHF366 ECONOMY...

Holcim Group, a Swiss building materials company, announced on Sunday that it intends to sell its Philippines operations to Huaxin Building Materials of China in a deal worth at least $807,000,000. Holcim is selling an initial 68% stake at $527 million. The remainder will be sold in the following three to five year period for a price minimum of $280million. Holcim stated that this would result in an overall valuation $807 million. However, the figure may rise "based upon incremental value creation over?this time period". This sale is Holcim's largest divestment, since the $1 billion deal it made with Huaxin...

Holcim Group, a Swiss building materials company, announced on Sunday that it intends to sell its Philippines business to China’s Huaxin Building Materials. The deal could generate at least $807 million. Holcim is selling a 68% initial stake at $527 million. The remainder will be sold in the next 3 to 5 years for $290 million. Holcim stated that the total valuation would be $807 million. However, this figure could increase "based on incremental values created during?this time period". The money raised will be used for?large acquisitions as well as further investments in Holcim’s existing business. After spinning off their...