United Kingdom

Tom Westbrook gives us a look at what the future holds for European and global markets. The markets expect that the Bank of England will be the sole mover in a series of central bank meetings on Thursday. A 25-basis point rate cut to 3.75 percent is almost as predictable as the collapse of the top order at the Ashes Test in Adelaide. Investors were reassured by the unexpected drop in UK inflation on Wednesday. However, with inflation at the highest level among G7 countries, 3.2%, it is unlikely that further rate cuts will be imminent. Sterling is down to...

Shell, the oil major, has made a final investment decision for a 'waterflooding project' at its Kaikias Field in the U.S. Gulf of Mexico. The project aims to increase oil recovery and prolong the life of Ursa Platform. The project will add an additional 60 million barrels of oil to the recoverable resources. Shell, the top deep-water operator in the U.S. Gulf, is making a new investment to maintain liquids production of?nearly 1.4 million barrels per day?until the year 2030. The first injection is scheduled for 2028, and will extend Ursa’s production cycle by several years. Waterflooding is a secondary...

Early trading Tuesday saw European stocks fall as traders remained cautious ahead of important U.S. employment data. The dollar also remained near its lowest level in the past two months. Investors waited for the U.S. Employment Reports for October and November due later in session. Data collection was delayed during the U.S. Government Shutdown. After the Fed's comments when it reduced rates last week were interpreted as being less hawkish that anticipated, this could affect expectations for the U.S. Federal Reserve monetary policy in the coming year. This would strengthen expectations for further rate cuts by 2026. The stock markets...

The oil prices dropped on Tuesday as the prospects of a Russia-Ukraine deal seemed to be improving, raising expectations of an easing of sanctions. Brent crude futures slid?35 cents or 0.6% to $60.21 a barge by 0350 GMT. U.S. West Texas Intermediate crude traded at $56.52 a barge, down 30 cents or 0.5%. "Crude Oil fell as the market weighed signs of optimism about a peace agreement being reached between 'Russia and Ukraine,'" ANZ analysts stated in a recent note. This raised fears that the recent U.S. sanction?on Russian Oil Companies would eventually be lifted, adding more to an already...

The major stock indices rose on Thursday. The Dow and S&P 500 posted?record highs, even though technology shares declined following Oracle's disappointing forecasts, and the dollar and U.S. Bond yields fell. The Nasdaq?ended down, while the Dow?and S&P 500?added to gains made the day before when the Federal?Reserve?cut rates, but gave a more dovish outlook than anticipated. Global stock indexes were also higher. Oracle, the cloud computing giant, reignited fears over astronomical tech valuations after it missed analysts' profit and sales estimates and announced a $15 billion artificial-intelligence overspend. Last week, its shares fell 10.8%. The S&P tech sector also...

The major stock indexes mixed on Thursday. Technology-related shares fell after cloud computing giant Oracle warned about artificial intelligence profitability. Meanwhile, the dollar and U.S. Bond yields continued their declines from yesterday, when the Federal Reserve lowered interest rates, but provided a more dovish outlook than anticipated. Early on, the Nasdaq fell to its lowest level in a week. The Dow added to Wednesday's gains after the Fed rate reduction. Global stock indexes were also up. Oracle reignited fears over tech valuations when it missed analysts' profit and sales estimates, and announced a $15 billion AI expenditure. The S&P tech...

Donald Trump's peace plan in Ukraine includes proposals to?restore Russian energy flows into Europe and major U.S. The Wall Street Journal reported that investment in Russian rare earths, energy, and frozen Russian sovereign assets was being considered. The newspaper reported that the plans were included in annexes to peace proposals sent to European counterparts over recent weeks. The plan includes a plan to use $200 billion in frozen Russian sovereign assets for projects in Ukraine. This would include a new major data center powered by the Zaporizhzhia Nuclear Power Plant, now under Russian control. U.S. firms would invest in strategic...

Investors waited for a decision by the U.S. Federal Reserve on interest rates and watched progress in Russia-Ukraine talks. Brent crude futures rose 7 cents or 0.1% to $62.01 per barrel at 0500 GMT. U.S. West Texas Intermediate Crude was trading at $58.32 per barrel, an increase of 7 cents or 0.1%. Suvro Sarkar is a DBS Bank energy analyst and said that the American Petroleum Institute reported a decline in U.S. oil inventories. Oil prices could be supported by the U.S. Fed's rate-cut policy, which is another macro-driver. Citing market sources The API numbers are a good way to...

The oil prices were stable on Tuesday, after falling 2% the previous session. Market participants remained focused on the upcoming decision by the U.S. Federal Reserve on interest rates and on peace talks that could end Russia's conflict in Ukraine. Brent crude futures were down?2 Cents, or 0.03 %, at $62.47 per barrel as of 0101 GMT. U.S. West Texas Intermediate Crude was trading at $58.84 - down 4 cents or 0.07%. The prices of both contracts dropped by over $1 after Iraq re-started production at Lukoil’s West Qurna 2 Oilfield, which is one of the largest in the world....

Oil prices were at a two-week high on Monday, as investors waited for a possible U.S. Federal Reserve rate cut to boost economic growth and increase energy demand. They also monitored geopolitical risks that threatened Russian and Venezuelan supplies. Brent crude futures were up 9 cents or 0.14% to $63.84 per barrel at 0321 GMT. U.S. West Texas Intermediate crude rose 8 cents or 0.13% to $60.16. Both contracts closed the Friday trading session at their highest level since November 18. LSEG data shows that the markets are pricing an 84% probability of a quarter point cut during the Fed...

By Colleen Waye WTI oil was heading for a weekly gain of nearly 2% on early Friday trading, supported by escalating U.S. - Venezuela tensions, and stalled Moscow peace talks. This would be the second week in a row of increases. Brent crude was up 6 cents or 0.09% at $63.32 a barrel at the market opening on Friday. U.S. West Texas Intermediate rose 4 cents or 0.07% to $59.71 per barrel. The previous trading session saw both contracts settle up by around 1%. In a survey conducted between November 28 and December 4, 82% of economists expected that the...

Rae Wee gives us a look at what the European and global markets will be like tomorrow. In the last month, there have been several instances where a rally in the market was suddenly halted due to sudden risk aversion. Sometimes this happened without any obvious cause. Shortly afterward, an upswing followed. Wednesday was another example of this. After a Monday drubbing, global stocks rose and bitcoin reclaimed its $90,000. It was at its highest level in almost two weeks. The European markets were also poised for a steady opening, as investors waited for the remarks of European Central Bank...

The third year has been tough for battery metals like lithium, nickel and copper as the three markets struggled to absorb the supply wave that followed the price boom of 2022. The electric vehicle revolution continues. The demand for metals and batteries that power them is growing at an accelerated rate. It is only a matter time before the current glut of supply is absorbed by demand. This was at least the hope. Chinese companies are, however, embarking on a "simultaneous" technological revolution, as they seek to develop batteries that are ever more powerful at a lower cost. Battery chemistry...

A report released by the U.N. Human Rights Office Thursday revealed that over 1,000 civilians died when a paramilitary group from Sudan took control of a famine stricken displacement camp in Sudan's Darfur. About a third were executed summarily. According to a U.N. Report, for months before the April 11-13 attack, the Rapid Support Forces had blocked the entry of food and other supplies into the Zamzam Camp in Sudan's western Darfur region, which houses nearly half a milllion people who have been displaced by the civil war. The U.N. reported that the RSF had attacked civilians during the takeover....

Dealmakers said that Canada's approval of the merger between British miner Anglo American, and Canada's Teck Resources for $53 billion signals an effort to 'attract investment' to offset the impact on U.S. Tariffs. Melanie Joly, Canada’s Innovation, Science, and Economic Development minister, announced late Monday night that Canada had approved the buyout of Teck Resources, in its entirety, by Anglo American, under the Investment Canada Act. This cleared a regulatory obstacle to create a global heavyweight for copper. Joly stated in a press release that the deal is beneficial to Canada. Her office has not responded to any further comments....

Guinea and EGA talk to avoid legal battles over assets seized EGA loses GAC license due to row over alumina refinery Nimba Mining to increase bauxite production By Maxwell ?Akalaare Adombila DAKAR, 16 December - Guinea and Emirates Global Aluminium are in discussions over a 'possible bauxite agreement, which would see the company sourcing the 'aluminium /feedstock from Guinea’s state-owned Nimba Mining. Guinea's military government, following a dispute that lasted a year over the construction an alumina refining plant, revoked Guinea Alumina Corporation's licence in July. The company then transferred its mining assets to Nimba Mining. Sources, including a government...

Three industry sources have confirmed that gold mining companies in the Ivory Coast are now paying an 8% royalty backdated to January after months of disputing its legality. The world's largest cocoa producer has replaced the previously linked 3%-6% contract rate with a flat 8%?rate. The miners refused to pay at first, claiming that it was illegal because their contracts protected them from fiscal changes. They then entered into negotiations with the government in order to get the new royalties scrapped. The three people who are familiar with the issue, but declined to be identified because they weren't authorised to...

Anglo American shareholders and Teck Resources shareholders approved a merger announced earlier on Tuesday, according to the companies. This paved the way for the creation of a new copper giant, with regulatory approvals remaining the last hurdle. Anglo released a statement saying that more than 99.17% votes were cast in favor by Anglo's London-listed shareholders. For the motion to be passed, a simple majority was needed. Teck shareholders have also passed their approval threshold of two thirds. The new company 'Anglo-Teck' will have its headquarters in Vancouver and its primary listing in London. Teck and Anglo-American announced in September their...

European shares closed flat on Tuesday as investors remained cautious ahead of the U.S. Federal Reserve’s two-day meeting. EssilorLuxottica also fell after Google announced plans to launch AI powered glasses. The STOXX 600, the pan-European index, closed at 578.11. The regional benchmarks showed mixed results, with Germany's DAX rising 0.5% and France’s CAC-40 falling 0.7%. Google announced that it will launch artificial intelligence-enabled eyewear in 2026, with Warby Parker. Other luxury stocks were also affected by the news, including Kering, LVMH and LVMH Group, which declined 2% and 1.40% respectively. Sector losses were led by the broader luxury index, which...

Gold ?edged down on Tuesday as investors, having mostly priced ?in ?a Federal Reserve rate cut, looked ahead for clues that the U.S. central bank might opt for a gentler-than-expected easing cycle when its two-day policy meeting begins later in the day. As of 0609 GMT, spot gold was down by 0.3% at $4,174.91 an ounce. U.S. gold futures for delivery in December fell 0.4% to $4.202.70 an ounce. Kelvin Wong, senior market analyst at OANDA, said that investors are largely repositioning themselves ahead of the Federal Reserve's meeting. During his press conference earlier in the month, Jerome Powell signaled...

The price of gold was flat on Tuesday, as investors had already priced in a Federal Reserve rate cut. They were also preparing for signs that the U.S. Central Bank may adopt a more moderate easing cycle than expected at its two-day meeting beginning later that day. As of 0444 GMT, spot gold was flat at $4,189.17 an ounce. U.S. Gold futures for December delivery were flat at $4.218.50 an ounce. Kelvin Wong, senior market analyst at OANDA, said that investors are repositioning themselves largely ahead of the Federal Reserve's policy-setting meeting. Powell had given a hawkish rate cut guidance...

BHP, a global miner, announced on Friday it had taken delivery of two electrical haul trucks for a trial to begin at its Jimblebar Iron Ore Mine in Australia's Pilbara. The truck trials are intended to reduce diesel consumption and greenhouse gas emission. BHP stated that the battery-electric trial, in partnership with Rio Tinto, and Caterpillar industrial equipment manufacturer, aims to test whether the technology can be used as an alternative for diesel in large-scale mining operations of iron ore. BHP stated that after the trial, miners will independently determine the progress they have made towards scaling up trials in...

The UK's FTSE 100 rose on Thursday as investors assessed corporate updates and data that suggested potential weakness. Burberry also gained following an HSBC increase in price target on the luxury goods manufacturer. The blue-chip FTSE 100 rose 0.1% at 11:15 GMT Thursday, and the midcap FTSE 250 gained 0.3%. The S&P Global monthly purchasing managers' Index showed that British construction activity has contracted at the fastest rate since May 2020. The employment index fell to its lowest level since August 2020, as the pace of job losses accelerated. The survey's measure of optimism fell to a three-year low. Cost...

The UK stock market rose on Wednesday as financials and mining stocks gained, after Finance Minister Rachel Reeves unveiled a large tax-raising budget. The blue-chip FTSE 100 posted its best day for two weeks, closing 0.9% higher. The domestically-focused FTSE 250 rose 1.2%. It was its best day for more than a week. Reeves' budget will increase the tax burden on workers, pensioners and investors in order to meet her borrowing target. Release First reported by The Office for Budget Responsibility reported that the remaining headroom in five years would be approximately 22 billion pounds (28,9 billion dollars). UK 30-year...