Western Europe

Investors were looking for any reprieve in U.S. Tariffs. The blue-chip FTSE 100 closed level, while the domestically focused FTSE 250 climbed by 0.9% following its worst session for seven months on February 2. The small cap index rose 0.7%. Sterling's four-month high against dollar helped limit gains on the FTSE 100. Dollar earners like Unilever, British American Tobacco, and British American Tobacco were also affected. Shell was also hit by a sharp fall in oil prices. Blue-chips fell from their record highs the previous session, after U.S. president Donald Trump's new duties on major trading partners went into effect....

The U.S. Commerce Department head said that President Donald Trump may consider protecting certain sectors, such as automakers, from U.S. Tariffs. His administration will announce tariffs on Canada and Mexico later on Wednesday. Howard Lutnick, in an interview with Bloomberg TV, said that Trump would be the one to make the final decisions on whether or not to provide relief to specific industries. He said that the 25% tariff on Canada and Mexico will remain in place with a view to renegotiating an agreement with these two countries next year. The Commerce secretary stated that "the president has the right...

Bloomberg News reported Wednesday that Saudi Aramco was evaluating a possible offer for the Castrol lubricants division of oil giant BP. The report was based on people familiar with the matter. According to a report, the Saudi Arabian state oil company is evaluating whether it should bid on part or the entire business that operates under the Castrol name. Aramco is still deliberating and has not made a decision about the structure of the bid. A BP spokesperson refused to comment, while Aramco didn't immediately respond to a request for comment. BP is exploring all possible options for its Castrol...

The oil prices dropped for a third time on Wednesday, as major producers increased their production plans in April. This was coupled with fears that U.S. Tariffs on Canada Mexico and China would slow the economic growth and impact fuel demand. Brent futures dropped 24 cents or 0.3% to $70.80 per barrel at 0500 GMT. U.S. West Texas Intermediate crude (WTI), which is a blend of oil from Texas and Louisiana, fell 58 cents or 0.9% to $67.68 per barrel. The previous session saw the contract settlements at levels that were close to the multi-month lows. "Unfavourable demand-supply dynamics have...

Financial markets are once again concerned about global growth as weakening U.S. data and rising trade tensions have a negative impact on consumer confidence and business activities. Recent data has alarmed investors, and President Donald Trump's 25% tariffs against Mexico and Canada have exacerbated growth concerns. The mood music has changed across the market. Oil prices have fallen to their lowest level since October. Stocks from New York and Tokyo are reversing recent multi-year highs. Two-year U.S. Treasury Yields are also at their lowest levels since October. Bond investors are predicting a rate cut in the near future. "Confidence is...

The oil prices continued to fall on Tuesday after reports that OPEC+ would proceed with a planned production increase in April, while the markets prepared for U.S. Tariffs against Canada, Mexico and China. Brent futures dropped 49 cents or 0.7% to $71.13 per barrel at 0455 GMT. U.S. West Texas Intermediate crude (WTI), however, fell 26 cents or 0.4% to $68.11. Darren Lim is a commodities strategist with Phillip Nova. He said that the current decline in oil prices was primarily due to OPEC+ increasing output and U.S. Tariffs. He added that geopolitical developments in relation to the Russia-Ukraine Conflict...

The United Nations Environment Programme announced on Monday that a new round will be held in Geneva from 5-14 August to negotiate a global treaty on plastics. This follows the failure of countries to reach an agreement on parameters for a final deal in December last year in Busan, South Korea. The final meeting of the U.N. Intergovernmental Negotiating Committee, INC-5 in Busan, was supposed to be the last one. However the countries remained divided on the scope of a global treaty. They could only agree to defer key decisions until the next session which will be called INC 5.2....

OMV Austria and Abu Dhabi National Oil Company agreed to merge their businesses in polyolefins through a joint-venture, which will bid $9.5 billion for Canada's Nova Chemicals, from Abu Dhabi sovereign wealth fund Mubadala. OMV announced this on Monday. OMV announced that the joint venture will be called?Borouge Group International' and will merge Borealis with Borouge. It will also include Nova Group as a member of the new entity. OMV added that ADNOC and OMV will both have equal shares and control over the JV. Borealis, a joint-venture owned by OMV, is 75% and ADNOC 25%, whereas Borouge, a second...

A document published on Monday showed that Ras Al Khaimah - one of the seven city states of the United Arab Emirates - has instructed banks to organize investor meetings before issuing any sukuk or Islamic bonds. Document from one of the banks involved in the meeting said that the government intends to issue benchmark-sized 10-year sukuk after the meetings begin on 3 March, depending on the market conditions. Benchmark size is usually understood as being at least $500,000,000. Citi, Emirates NBD Capital Abu Dhabi Commercial Bank First Abu Dhabi Bank National Bank of Ras Al Khaimah, Standard Chartered and...

The Raines family did not plant any cotton seeds last year for the first time in 4 generations. Chad Raines parked the tractor and rented most of his Texas land to a neighbour. Raines, instead of plowing his fields, spent the entire year transporting his flock to solar farms to eat the grass around the panels. He said that the deals he made with five solar companies for his natural lawn-mowing services were more lucrative than farming cotton. Raines said, "Cotton has been so low for such a long time, I needed to do something else." Some crop producers in...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Shell is looking at the possibility of selling its chemical assets in Europe and America as part of a broader effort to focus the company on its most lucrative operations. Top executives from some of the largest U.S. Consulting firms meet with officials of the Trump Administration to defend their consulting agreements ahead of the deadline next week for government agencies justifying major consulting contracts. In a post on social media, U.S. president Donald Trump revealed the...

Acciona's top management stated on Friday that it expects to see little impact of President Donald Trump’s energy and trading policies. It also outlined plans for asset sales up to $4.68 billion. Acciona Energy, like other European green energy companies has faced investors' difficulties. Unease The U.S. Renewable Energy Market is changing dramatically under the Trump Administration. In a conference call with analysts on earnings for 2024, Chief Executive Rafael Mateo said that "our exposure to the U.S. Energy Policy Volatility is very limited." Acciona had already acquired the necessary equipment in advance and secured tax incentives, he said at...

London copper reached a near-three-week high Thursday, spurred on by a sharp drop in the U.S. Dollar and expectations for more stimulus coming from China's top consumer. As of 0154 GMT on the London Metal Exchange, three-month copper rose by 0.4% to $9 624 per metric ton. This is its highest level since 14 February. The Shanghai Futures Exchange's most active copper contract rose 1.7% to 78,430 Yuan ($10,834.67) per tonne, a two-week high. Dollar index fell 1.5%, hovering near a 4-month low. This made commodities priced in greenbacks cheaper for buyers with other currencies. As investors anticipated more headlines...

German defence companies are looking for more capacity, as Europe prepares to increase military spending. They are also eyeing the struggling car industry. This is the first sign that a change could be coming in the direction of helping revive the continent's largest economy after two years contraction. Tank, radar and weapon manufacturers are looking to increase production in response to U.S. demands that Europe take responsibility for its own defense. Germany's carmakers, which have been the economic powerhouse of Germany for decades, are cutting jobs and closing plants due to a slowing market and a halting transition to electric...

U.S. Copper prices rose on Wednesday, as concerns about U.S. tariffs increased. Meanwhile, China's new stimulus measures, Germany’s plans for infrastructure funds, and a lower dollar supported the market. The most actively traded May copper futures at the U.S. Comex Exchange surged 5.1%, to $4.7865 per lb. This is their highest level since February 14. The U.S. Futures beat the three-month Copper on the London Metal Exchange. It rose by 2.0% at 1112 GMT to $9,532 per metric ton after reaching $9,564 as its highest level since February 21. Ole Hansen is the head of commodity strategy for Saxo Bank....

German defence companies are looking for more capacity, as Europe prepares to increase military spending. They are now eyeing the struggling car industry. This is the first sign that a change could be coming in the direction of helping revive the continent's largest economy after two years on the decline. As Europe responds to U.S. demands to build its own defenses, manufacturers of tanks and radars are looking to increase production. Germany's carmakers, which have been the economic powerhouse of Germany for decades, are cutting jobs and closing plants due to a slowing market and a halting transition to electric...

Investors in Shanghai were frightened by a possible trade war between China and the United States, which are the two largest metals consumers, following the tit-fortat tariffs imposed by both countries. By 0205 GMT, the most active copper contract at the Shanghai Futures Exchange had fallen 0.4% to 76,870 Yuan ($10,581.74) per metric ton. Copper prices have been trending downwards amid fears of a potential global economic slowdown due to U.S. tariffs on trade and the retaliatory actions of U.S. trading partners. Kelvin Wong is OANDA’s senior analyst for Asia Pacific. The new tariffs of 25% on imports to the...

The Wa State in Myanmar, a semiautonomous region, has finally broken a year-long silence about the fate of Man Maw Tin Mine. The mine is a jewel in Myanmar's crown of tin and its suspension, since August 2023 ostensibly to conduct an audit, has cut the flow of raw tin materials into Chinese smelters thereby reducing the output of refined metal. The Wa authorities now say they are ready for applications to be submitted for mining and processing licenses at Man Maw. This indicates that it is likely to return in the second half of this year. The International Tin...

According to preliminary government data, seen on Tuesday, India's finished-steel imports from China and South Korea, as well as Japan, reached a record in the first ten months of this financial year. India, which is the second largest crude steel producer in the world, reported that it was a net steel importer and shipped record amounts of finished steel between April and January. The data revealed that South Korea imported 2.4 million tons of finished steel, an increase of 11.7% over the previous year. South Korea was India's largest exporter of this alloy during that period. The total amount of...

Shanghai's base metals gained Tuesday, as the market hoped for more stimulus in China, the largest metals consumer in the world, and an improvement in manufacturing in China. By 0342 GMT, the most active copper contract at the Shanghai Futures Exchange had risen 0.1% to $10,590.45 per metric ton. Base metals rose on signs of increased factory activity in China, ahead of the National People's Congress gathering (NPC), which will take place on March 5. There are also expectations of further stimulus for the economy. This was said by Daniel Hynes of ANZ Bank, a senior commodities strategist. China's manufacturing...

The Trump administration has delayed the implementation of new tariffs against Mexico and Canada for a month. The reprieve will end on Tuesday. The U.S. Commerce secretary Howard Lutnick confirmed that the tariffs against Canada and Mexico will take effect on February 2. Donald Trump, however, will decide if the proposed tariff rate of 25% is maintained. Canada exports mainly crude oil, other energy products and cars and car components as part of North American auto manufacturing chains. Mexico exports a variety of goods from the auto and industrial sectors. What top brokerages say about the impact of tariffs on...

Jean-Claude Diplo told a leading industry official that the Ivory Coast is expecting to reach a record gold production this year. The mine Lafigue, which opened in 2024, will be a major contributor. To diversify income sources, the world's biggest cocoa producer wants to develop its neglected mining sector. Lafigue, located 500 km north-east of Abidjan, the commercial capital of West Africa, and operated by Endeavour Mining (a London-listed company), is expected to produce 180,000 to 210,000 ounces gold in 2025. Diplo's term as head of the mining association GPMCI, which ended on Friday evening, stated that Ivory Coast gold...

After reports that the next likely government in Germany was considering a major fiscal overhaul for Europe's largest economy, Europe's defense stocks surged on Monday. Shares of defence contractors such as Thyssenkrupp Hensoldt Renk Rheinmetall BAE Systems, Leonardo, and Hensoldt rose by double-digits percentages after news broke that the conservatives, who won the elections, and the Social Democrats, centre-left, were considering debt-financed infrastructure and defence funds worth under one trillion euros. No party has confirmed officially that a special defence fund worth 400 billion euro ($417 billion), and infrastructure funds worth up to 500 billion euro, which would total 20%...

The threat of tariffs against U.S. imports put pressure on copper prices on Monday, but a stronger industrial sector in China raised the hopes of a stronger demand. By 1025 GMT, the benchmark copper price on London Metal Exchange was up by 0.1% to $9,368 per metric tonne. U.S. president Donald Trump plans to impose another 10% tariff on Chinese products on Tuesday. This will effectively double the duties imposed on 4 February. China is the largest consumer of base metals in the world and heavily relies on them for its manufacturing sector. One copper trader stated that "China's PMIs...