Western Europe

On Friday, German Chancellor Friedrich Merz said that the European Union could ease sanctions against Tehran as part a comprehensive deal that would end the war in Iran. However, other EU leaders struck a more cautious tone. In response to Iran's human rights violations, its nuclear activities, and its military support of Russia, the 27-nation EU imposed sanctions against Iran over the past few years. These included travel bans, asset freezes, and travel restrictions for senior officials. U.S. officials suggest that a comprehensive agreement?covering Iran’s nuclear and missile programs and the reopening of Strait of Hormuz, could bring about a...

Next week, investors will be focusing on three major issues: the war in Iran and the interest rate path. Five of the "Magnificent Seven" U.S. technology giants are reporting their earnings. Four of the top central banks in the world meet to discuss how long they will be able to'realistically' look past the rise in energy prices caused by the blockage of the Strait of Hormuz. Marc Jones, Dhara Ranasinghe and Lewis Krauskopf in New York will give you all the information about this week's financial markets. Rae Wee is in Singapore. 1/CORRIDOR POWER The next week will be dominated...

The German lower house of Parliament approved on Friday a relief bonus of up to 1000 euros ($1,169.30). This was part of a package to'soften the impact of the high gas prices caused by the Iran War. The AfD, the Left Party and the Greens abstained. Companies can pay an 'unique bonus' to their employees under the plan until June 30th 2027. Payments?will be deductible by employers and tax-free for workers. The bonus is voluntary, which creates uncertainty about how many companies are going to participate in the weak economy. Coalition estimates that the measure will result in a loss...

Austrian oil company OMV brought itself into compliance with the new rules for lowering 'petrol prices, after initially not implementing 'them fully. National energy regulator E-Control announced on Thursday. The Economy Ministry, which oversees the energy policy, has asked E-Control for a review. Last week, OMV, a partially state-owned company, said it was in compliance with the rules despite reducing wholesale diesel prices by less than the required five euro cents per litre. The coalition government has enacted these rules in response to a surge in oil prices caused by the Iran War. The rules require that any increase in...

ASM International, a computer chip equipment manufacturer, forecast on Tuesday?stronger revenue guidance for the second quarter?than expected by markets?after?a first-quarter result that exceeded expectations. LSEG data estimated that second-quarter revenues would be around 883.9 millions euros, but Europe's second largest maker of chipmaking tool forecasts 980 million euro ($1.15 billion) instead. The first-quarter revenue was 862.5 millions euros, versus the analysts' expectations of 828.5 millions euros. The forecast was published after the European market closed. Analysts felt it was strong enough to distract from the decision to cease publishing the eagerly anticipated new order figures because they are too volatile....

French officials said that they would 'fully offset the economic impact of the Iran crisis' by freezing certain spending. They announced this on Tuesday as part of a new set support measures. The government will be hit with a surge in energy costs and higher bond yields after the Iran War began. This is expected to cost between 4 billion euro ($4.7 billion)?and 6 billion euro, while increased borrowing costs are responsible for 3.6 billion, according to Finance Minister Roland?Lescure. After a meeting of lawmakers, budget minister David Amiel said to reporters: "In light of the 6 billion euro cost...

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...

The Dutch government estimated on Monday that the European Union could supply enough kerosene for the EU economy to last about five months. This would be based on domestic production and strategic reserves. The Iran War has caused a potential shortage of jet fuel within the next few weeks. In a letter sent to the Dutch parliament, it was stated that the domestic supply of jet fuel (or kerosene) is 78% below normal levels as most imports have ceased. The Netherlands is home to several of Europe's biggest refineries, located in the Port?of Rotterdam. The government announced measures to protect...

The Dutch government announced temporary tax breaks on Monday to compensate for the rising cost of fuel. It also said it was preparing a broader package of measures in case energy prices worsen. The government allocated around 1 billion euro ($1.2 billion) to temporary tax relief measures for commuters and truck drivers, but did not lower fuel taxes as many of them requested. These measures include targeted support to lower-income people with energy bills and a?support for homeowners to reduce their consumption. The government stated that there are no immediate fuel shortages as European oil, jet fuel and diesel supplies...

The World Bank announced a new strategy on Friday that focuses on jobs to help small island states, and other small countries address challenges like remoteness, shock exposure and a limited economic base. World Bank President Ajay Banga spoke about the initiative in a closed door meeting of 50 ministers and governors of central banks from small countries, held during the spring meetings for the International Monetary Fund (IMF) and World Bank. He explained that the idea was to use different tools to help smaller states attract more investment, implement policy and regulatory changes to make it easier to run...

The oil prices fell by 13% after Iran's Foreign Minister said that the Strait of Hormuz would remain open to all commercial vessels for the remainder of the ceasefire period. U.S. president Donald Trump also said Iran had agreed not to close the strait ever again. Brent crude futures dropped $12.87 or 12.95 percent to $86.52 per barrel at 10:50 am EDT (1450 GMT) after hitting a session's low of $86.09. U.S. West Texas Intermediate Crude Futures fell $13.50 or 14.26% to $81.19 per barrel after reaching $80.56. Both contracts traded at their lowest since March 10 and were set...

Early Friday morning, oil prices dropped on the optimism that the Middle East conflict could be coming to an end. A 10-day ceasefire between Israel and Lebanon went into effect after the inauguration of the ceasefire. Moreover, 'President Donald Trump' said the U.S. may hold talks with Iran over the weekend. Brent crude futures fell $1.34 or 1.35% to $98.05 per barrel at 0021 GMT. U.S. West Texas Intermediate Crude Futures declined $1.65 or 1.74% to $93.40 per barrel, reducing gains from the previous day. Trump addressed a major sticking point in talks to end the Iran War, which has...

Copper prices fell on Friday due to concerns about the continuing 'closure of Strait of Hormuz and the lack of progress made in the 'peace talks between?U.S. Iran. In official open-outcry trade, the benchmark three-month copper price?on the London Metal Exchange?slid 0.5% to $13,290 per metric ton. Israel and Lebanon extended the ceasefire by three weeks. But President Donald Trump stated that he wasn't in a hurry to reach an agreement with Iran. Ole Hansen, head commodity strategy at Saxo Bank, Copenhagen, said: "While the threat of an escalation via military conflict is reduced for the moment, the severity and...

Holcim, the Swiss cement giant, reported better than expected first-quarter results on Friday. It also confirmed its outlook for the full year despite concerns over a'slowing world economy' that is weighing down?on confidence?in?the construction industry. Holcim said its sales dropped 4.8%, to 3,52 billion Swiss Francs ($4.47billion) during the three-month period ending March. This was better than analyst expectations of 3.42 billion Swiss Francs. The recurring operating profit (EBIT), which is based on a consensus of analysts, fell to 431 millions francs. This was higher than the analyst forecasts of 407 million in a company compiled consensus. Holcim's withdrawal from...

Due to slower growth in demand and increased secondary production the 'global refined market' is expected to shift to a surplus 96,000 metric tonnes?in 2026. This will reverse a previously forecast deficit?of?150,000?tons. The organization predicted a surplus in 2027 of 377,000 metric tonnes, but warned that geopolitical factors, such as the 'war in the Middle East' and changes in trade flow could impact market balances. The global refined copper consumption is expected to increase by only 1.6% by 2026 (down from an earlier estimate of 2.0%) and by just 2% by 2027. ICSG stated that the Chinese demand is expected...

The copper price fell from a?multi-week peak on Thursday due to the stalled U.S. Iran peace talks, the continued closure?of Strait of Hormuz as well as a stronger dollar. Benchmark three-month Copper on the London Metal Exchange fell 1.4% to $13,247 per metric ton during 'official open-outcry' trading after reaching its highest since February 27, at $13,481.50. No signs of a return to peace talks between Iran and the U.S. have emerged, while Iran has tightened the grip it holds on the Strait of Hormuz. This has sent oil prices over $100 per barrel. Standard Chartered's head of base-metals research,...

Mark Kristoff is the chief executive officer of commodity trader Traxys. He said that derivative contracts for niche-critical?minerals? including rhenium, could be developed over time, as industrial users seek to find better hedging instruments due to supply concerns and volatility in prices. Minerals such as rhenium and halfnium, which are not well-known outside of specialist markets, are essential to the aerospace and defence industries, and the energy industry. Prices of essential minerals have already been pushed up by the growing demand and limited supply. Kristoff says that many so-called minor and strategic metals today are too illiquid to be exchange-traded,...

Metalshub, a digital platform funded in part by the EU, and an agency that is partially funded by the EU are working on establishing regional critical mineral prices separate from those of dominant producer China to allow the financing of new projects. The European Union, United States, and other Western countries strive to set their own benchmark prices of critical minerals in order to reduce their dependency on China. China accounts for 90% of the global production of rare earths processed, which are vital for electronics, clean energy and defence. Bernd Schaefer said that "Europe lacks a deep, transparent, and...

China's exports to Chile of sulphuric acids sank to zero in March according to Chinese 'customs' data. The world's largest 'copper-producing nation' is now facing a shortage of the chemical that's used to refine around half of it. China plans to ban exports of sulphuric acids from May, to avoid a shortage in its domestic market. This includes the fertilisers industry. The shipment of acid to Chile has already stopped. It was the biggest market for China's acid exports in 2025, and it accounted for almost one-third. Comparatively, China exported 31,870 tons of acid to Chile between February 2026, and...

The price of copper rose on Wednesday, as President Donald Trump extended a ceasefire agreement with Iran. However, lingering uncertainty over the Middle East conflict limited gains. In official open-outcry trade, the benchmark?three-month?copper price on London Metal Exchange rose 0.3% to $13,270 per metric tonne. This month, the renewed premium in Comex copper over the LME benchmark has been a key feature of the copper markets for 2025. It encourages shipments to the United States. More copper is expected to flow into the United States. While the premium price persists until the end of July, a decision will be expected...

Ferrexpo, the iron ore pellet manufacturer, said that it would be pursuing an equity raise of at least $100 million in order to stave off bankruptcy. It warned it only had enough cash to last until August's end without additional funding. Early trading saw shares of the London-listed company fall 5.5% to 40.80 pence. The Ukraine-focused mining company said that its net cash available had fallen to about $20 million as of April 17 compared to $101 million by 2024's end, due to the disruption caused by the Ukraine War. The company stated that without the fundraise "it is highly...

Four sources familiar with the matter said that HSBC is hiring JPMorgan executive James Willis as its global precious metals sales director. Mark Augustynak, formerly of ICBC Standard Bank, was recruited by HSBC this month to lead its global metals trading division. HSBC is a market'maker' and a clearer on the London Over-the-Counter Market, where participants do not trade via an exchange but directly with one another. Each day, London clears 20 million troy-ounces of gold worth $96 billion at current prices. The appointments are part of a wider reshuffle in the trading and sales departments at major bullion bankers...

Copper prices fell on Monday as the Strait of Hormuz was closed again to marine traffic. A fragile ceasefire between Iran & the United States looked in danger, reigniting fears over the economic growth. In open-outcry official trading, the benchmark three-month 'copper' on the London Metal Exchange fell 0.8% to $13,235 per metric ton. Last week, the metal gained 3.9% on the optimism that the ceasefire would hold and Iran's announcement on Friday that commercial vessels could now enter the Strait. The?U.S. The?U.S. then seized a cargo ship from Iran that was trying to blockade the strait on its own....

The U.S. is hosting further discussions in the coming weeks for the Group 20 major economies about the impact of war in the Middle East on food and fertiliser, as they 'continue to push for coordinated actions. The U.S. will make this pledge in a statement by the chair of the G20. It will be made during a meeting between G20 finance minsters and central bankers held on April 16 at the Spring Meetings of the International Monetary Fund (IMF) and World Bank. Before its official release on Monday, a copy of the statement was released instead of a communiqué...