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Stocks fall as tariffs hurt tech stocks

Stocks plunged, bonds surged and the dollar rose on Thursday, as U.S. president Donald Trump announced an even larger-than-expected wall around the largest economy in the world, disrupting trade and supply chain. Nasdaq Futures fell 4%. Tech was on the frontline because China, which has been hit with an additional 34% tariff on top of its previous 20%, is a major manufacturing hub. Apple shares fell nearly 7% after-hours. S&P futures declined 3.3%, while Nikkei Futures fell more than 4%. Australian shares fell 2%. The U.S. Dollar was higher on a rollercoaster of currency trading, except for the safe-haven Japanese...

Crude Oil

Gold and stocks both rise ahead of Trump’s 'Liberation Day" tariffs

The stock market fell on Wednesday as investors worried about the risk of a global trade war intensifying. In recent weeks, investors have been focused on the new round reciprocal levies which the White House will announce at 2000 GMT on Wednesday. These are expected to go into effect immediately following the announcement. Trump has already imposed duties on autos, aluminium and steel, as well as increased duties on all Chinese goods. This has rattled the markets, with fears growing that a full-blown global trade war may trigger a sharp economic slowdown. The European markets were relatively quiet, with stock...

Crude Oil

Gold and stocks rise as investors wait for Trump tariff clarity

The global stock market rose on Tuesday, following Wall Street’s overnight gains. Gold reached a record high and Treasury yields dropped as markets waited for details about U.S. president Donald Trump’s reciprocal tariffs. The Japanese yen and Swiss franc held steady as demand for traditional safe-haven assets increased. The risk-sensitive Australian Dollar also rebounded, after the Reserve Bank of Australia kept interest rates unchanged, as expected, while warning of a "pronounced" uncertainty in the global economy. Investors anxiously await April 2, the day Trump has called "Liberation Day", where he promises to reveal a massive tariff plan. The Office of...

Crude Oil

MORNING BID EUROPE - Risk assets are trampled under Trump's tariffs for everyone

Trying to stay up-to-date with the latest news on tariffs? This daily news digest provides a quick overview of global trade headlines. Tariff Watch is free. Sign up here. Wayne Cole gives us a look at what the future holds for European and global markets. The week has started off rocky in Asia, as stocks have fallen across the board due to a rush to risk. Bonds extended their rally while gold reached another record. The mood was already fragile before the announcement of U.S. Tariffs on Wednesday, but President Trump exacerbated it by telling reporters aboard Air Force One...

Oil & Gas

Financial Times – March 31,

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Headlines Volvo Cars brings former boss back to provide a'steady' hand Trump threatens to impose secondary tariffs on Russian Oil if there is no agreement on Ukraine Isar declares launch of rocket a success, despite first-time failure to reach orbit Task force urges to eliminate oil and gas windfall taxes before 2030 View the full article Volvo Cars has appointed Hakan Samuelsson as its new chief executive after warning last month of a potentially challenging 2025. Donald Trump,...

Crude Oil

Stocks fall as US inflation worries add to trade war concerns

Wall Street was set to continue its recent losses in world stocks, while gold, a safe haven asset, reached another record on Friday as Donald Trump's latest tariff salvo fueled fears of a full-blown trade war. The latest inflation figures were a source of frustration for U.S. traders, but Trump's 25% auto import tariffs and his plans to impose even more levies in the coming week continued to be a cause for concern. S&P futures were lower. Europe's STOXX 600 was on track for a weekly decline of 1% thanks to a drop of 2% in the auto and parts...

Crude Oil

Gold reaches record levels as trade worries weigh on stocks

The Asian and European stock exchanges extended their losses on Friday, while gold, the safe haven asset of choice for investors, reached a new record high. This was after President Donald Trump's latest tariff salvo fueled fears of a full-blown trade war. The dollar and oil were also in trouble, as Trump's 25% auto tariffs that will be implemented next week along with plans for a much wider global levies continue to draw harsh criticism from countries and companies. The Nikkei 225 index of Japan fell by nearly 2%, led by the sharp declines in auto giants Toyota, and Honda....

Refined Products

Oil nears one-month high and is set to gain for a third week amid supply problems

The oil price eased slightly but held close to one-month highs as it headed for a second weekly gain. This was due to a tightening of global supply after the U.S. placed tariffs on countries that buy oil from Venezuela, and put curbs on Iranian crude oil trade. Brent crude futures fell 14 cents or 0.2% to $73.89 per barrel. U.S. West Texas Intermediate Crude Futures were down 12 Cents, or 0.2 %, to $69.80 per barrel at 0431 GMT. Both contracts have gained over 2% this week. Since early March, they are up by more than 7%. BMI analysts...

Refined Products

Oil nears one-month high and is set to gain for a third week amid supply problems

The oil price was near a one-month high on Friday, and it appeared that the market would be in for a third consecutive weekly increase due to a tightening of global supplies after the U.S. placed tariffs on countries purchasing oil and gas from Venezuela as well as restrictions on Iranian oil trading. Brent crude futures fell 8 cents or 0.1% to $73.95 per barrel at 0213 GMT. U.S. West Texas Intermediate Crude Futures also fell 8 cents or 0.1% to $69.84 per barrel at 0049 GMT. Both contracts have gained over 2% this week. The U.S. President Donald Trump...

Crude Oil

Gold reaches record highs on US tariffs, while Asia stocks fall

Asian stocks dropped on Friday, with South Korea and Japan seeing heavy selling. Meanwhile, gold reached a new record high after the latest tariff salvo by U.S. president Donald Trump raised investor fears of a full-blown trade war. Trump has moved forward with a 25% auto import tariff that will kick in next Monday. This move has drawn fierce criticism from politicians, industry executives and car manufacturers around the world. Trump's escalation of the global war on trade that he started upon regaining power has shocked the markets. Shares of automakers around the world have been hit especially hard. In...

Crude Oil

Trump's auto tariffs cause a drop in stocks and a rise in gold

The European stock market fell on Thursday, and Wall Street is expected to open lower as shares of some of the biggest automakers in the world tumbled following U.S. president Donald Trump's announcement on new tariffs for auto imports. Trump announced 25% tariffs for all foreign-made vehicles and auto parts imported to the United States late Wednesday night, causing heavy losses overnight in Japanese and South Korean stock markets. After the bell, U.S. automobile manufacturers lost ground. General Motors shares fell 6% while Ford shares dropped almost 5%. This was due to concerns over the impact of their supply chains....

Crude Oil

Dollar climbs, stocks fall as new tariffs announced

The U.S. Dollar resumed its upward movement on Wednesday as investors awaited President Donald Trump's next announcement of tariffs. White House Press Secretary KarolineLeavitt confirmed that Trump would hold a press event at 4 pm EDT (20:00 GMT) on Monday to announce the auto tariffs. The technology sector was a major factor in the decline of U.S. stock prices on Wall Street. The three major U.S. indices were on course to end a streak of three consecutive gains. In recent days, stocks have begun to show signs of bottoming after being under pressure from the uncertainty surrounding the tariff outlook....

Environment

Environment

What is Trump's new reciprocal tariff regime?

U.S. president Donald Trump has shattered a global trading system that dates back more than 75 years with a new 10% U.S. baseline tariff on all goods and higher reciprocal rates of tariffs for countries that, according to his administration, have high barriers against U.S. imported goods. Here are some of the key features of Trump's new tariff regime, as detailed by his executive order. High Tariffs on Major Trade Partners The reciprocal rate is meant to capture policies like currency manipulation, lax laws on pollution and labor, and burdensome regulations which keep U.S. goods out of foreign market. The...

Environment

Danish PM visits Greenland on a three-day trip amid Trump pressure

Denmark's Prime Minister landed in Greenland for talks on Wednesday with the incoming government of the semi-autonomous Danish territory. This was in response to President Donald Trump's expressed interest in controlling this vast Arctic island. Mette Frederiksen starts her three-day journey less than a month after the visit by U.S. vice president JD Vance to the territory was met with a cold reception from authorities in Denmark. She said that her goal was to strengthen Copenhagen’s ties with Greenland and stressed the importance of respecting cooperation in the face of what she called "great pressure" on Greenland. Frederiksen is expected...

Fossil Fuels

SSE cuts annual earnings forecast but expects renewables to grow in UK

SSE, a British network operator and power generator, lowered its guidance on earnings per share for the year but kept its long-term profits expectations. It now expects to earn between 155 pence and 160 pence in the fiscal year 2025, compared to its previous guidance of 163 pence to 154 pence. SSE will benefit from Britain's aim to decarbonise the electricity sector by 2030, with a rapid expansion of renewable energy sources, like wind and solar. Major investments in grid connection are also planned. The company plans to invest approximately 3 billion pounds ($3.87billion) this year under its Net Zero...

Mining

Mineral Resources

Mineral Resources

Wall Street's reaction to Trump's reciprocal Tariffs

Donald Trump announced on Wednesday that he will impose a baseline 10% tariff on all imports into the United States, and higher duties for some of the biggest trading partners. This could lead to a trade conflict and upset the global economy. Countermeasures from trading partners could result in a dramatic increase in prices of everything, including bicycles and wine. LENNY LARCCA, KPMG U.S. AUTOMOTIVE LEADERS "U.S. Automakers are looking for steps they can take to mitigate tariffs in the short term, such as working on items that can be shipped to the U.S. rapidly without major investment." Massive longer-term...

Mineral Resources

Trump administration increases beer can imports to 25% US Aluminum tariffs

On Wednesday, the Trump administration announced that it would impose a 25% duty on all beer imports. The beverage and empty aluminum aluminum cans will be added to a list containing derivative products which are subject to aluminum tariffs. In a Federal Register announcement, the Commerce Department stated that duties on beer will be collected at 12:01 am EDT Friday, April 4, starting with empty aluminum cans. The notice reversing Trump's previous aluminum tariff changes only lists the tariff code for malted beer. The notice does not mention a subordinate tariff code for beer imported in glass bottles. The Commerce...

Electric Utilities

Putin allows Armenian fund to buy Goldman Sachs shares in Russian public companies

According to a Wednesday decree, Russian President Vladimir Putin authorized Armenian investment firm Balchug Capital, to purchase shares held by Goldman Sachs Russian subsidiary, in nine major Russian companies, mainly in the energy sector. Balchug Capital, Goldman Sachs and other companies did not respond immediately to our requests for comments. Balchug Capital is The green light According to a separate order, the U.S. Bank will purchase Goldman Sachs’ subsidiary in Russia by January. This will allow the bank to exit the Russian market, and to extract some of the capital that is stuck there. Since the beginning of the Ukraine...

Mineral Resources

London copper prices rise; caution before US reciprocal tariffs cap gains

The copper price in London increased on Wednesday. However, gains were limited as investors awaited the details of reciprocal duties from U.S. president Donald Trump. As of 0336 GMT, the benchmark three-month price for copper at the London Metal Exchange rose by 0.5%, to $9,736 a metric ton. Trump announced on Sunday that his reciprocal tariffs would apply to all countries. He will announce the tariffs at 20:00 GMT. A base metals trader stated that "we sense a risk off sentiment because of the looming uncertainty ahead of Trump’s reciprocal tariffs announcement later today." Caixin/S&P Global Manufacturing PMI, released on...

Mineral Resources

Gold prices rise on demand for safe-havens ahead of US tariffs

The gold price continued to rise on Wednesday after hitting a new record in the previous session. Investors sought comfort in the metal as they waited for the impact of U.S. tariffs. As of 0240 GMT, spot gold was up 0.7% to $3,131.25 per ounce. Bullion reached a record high of $3148.88 Tuesday. U.S. Gold Futures increased 0.4% to $3.159.90. The main reason behind these consecutive record highs is safe-haven purchasing, and the geopolitical uncertainties that underpin this show no signs of abating," said Philip Newman. Newman stated that a U.S. slowdown in economic growth, a potential increase in inflation...

Mineral Resources

LME fines Access World Access World $77,000 for violating warehouse rules

London Metal Exchange (LME), has taken disciplinary actions against Access World Vlissingen B.V. for breaches of LME warehouse rules that date back to 2022. The company agreed to pay an amount of 60,000 pounds ($77328) as a penalty. The exchange, which is the oldest and largest industrial metals market in the world, announced that a settlement had been reached prior to the institution of any disciplinary proceedings. Four warrants of full-plate nickel cathodes, between October 18, 2022, and November 16, 20,22 were loaded erroneously out of a shed at Access World's Rotterdam office. LME warrants confer ownership. A third party,...

Mineral Resources

India launches antidumping investigation against met coke imports

A government notification states that India launched an anti-dumping investigation at the request of an industry group over imports from Australia, China and Russia of met coke (low-ash metallurgical or met coal). In a March 29 notice, the Commerce Ministry said that the Indian Metallurgical Coke Manufacturers Association requested an investigation into the imports. These imports have more than doubled in the last four years due to concerns about local companies. According to the notification, the trade body said that there was no difference between the quality of met coke imported from abroad and the domestically produced version, which is...

Mineral Resources

Sources: Mercuria's former Beijing head joins China's Rongsheng

According to internal memos and sources, the former head of Mercuria's Beijing office will join China's largest oil refining group Rongsheng Holdings as a senior executive. Li Xinhua will assist Xiang Jingjiong as president of Rongsheng Holdings. Li will be responsible for Rongsheng’s coal, petrochemical and oil trading businesses in Singapore, according to sources who declined to name themselves as the move had not yet been announced. Rongsheng has not yet commented. Li has been with Mercuria in Geneva for 17 years, one of the top four commodities and energy traders on the planet. Li's new role is to grow...

Mineral Resources

London copper recovers from a two-week low due to positive China data

London copper prices rose Tuesday, recovering from a 2-week-low hit the day before, as positive Chinese data overshadowed concerns about a possible global trade war caused by Trump's impending tariffs. The Caixin/S&P Global Manufacturing PMI rose to 51.2 from 50.8 in Feburary, driven by strong export orders and increased demand, reflecting manufacturing growth despite the potential threats of an escalating U.S. Trade War. As of 0711 GMT the benchmark three-month price for copper on London Metal Exchange (LME), had increased 0.7% to $9781.5 per metric tonne, recovering from Monday's 2-week low. Trump announced on Sunday that he will introduce reciprocal...

Mineral Resources

Tesla sales in France fall to the lowest level in four quarters

Elon Musk’s electric car brand's first quarter sales in France have been the lowest since 2021, according to data released on Tuesday. Tesla's sales have been in decline ahead of its much-anticipated Model Y midsize SUV launch. The billionaire CEO is a close ally to U.S. president Donald Trump and has courted far-right parties across Europe. Data from the French auto body PFA revealed that Tesla sold 3,157 cars in France in March, a drop of 36.83% from last year. This equates to 6,693 registrations for the first quarter. The PFA's share of the country's market dropped to 1.63% for...

Mineral Resources

Gold reaches all-time highs as Trump's tariffs plans cause inflation fears

The gold price reached a new record high on Tuesday as investors sought safe havens amid fears that President Donald Trump’s tariffs could fuel inflationary pressures or impede the economy. As of 0310 GMT spot gold was up 0.6% to $3,142.83 per ounce after reaching an all-time session high of $3145.38. U.S. Gold Futures increased 0.7% to $3171.80. The previous session saw bullion record its strongest quarter in precious metals' history, with one of the biggest upswings ever. "The anticipation of April 2 U.S. mutual tariffs has led the market participants to take a defensive stance. Some de-risk and turn...

Mineral Resources

Trump's trade tariffs and threats

Since returning to office in January, Donald Trump has issued numerous tariff threats. These range from a duty on all imports to a targeted tariff on certain sectors or countries. Trump's threats changed over time. This left other nations and business unclear as to what was next. It also created uncertainty for consumers and triggered a recent stock-market selloff. Here's a summary of Trump’s threats and actions in relation to trade. BROAD TARIFFS Trump's vision is based on a gradual roll-out of tariffs that will apply to all U.S. imported goods. Last month, Trump asked his team of economists to...