Western Europe

The stock market made a few gains on Wednesday, but the positive impact of a strong Wall Street session was offset by caution as investors waited for earnings reports from Big Tech. Meanwhile, the oil price rose due to threats from Houthi "rebels" to escalate the Middle East conflict. The broadest MSCI index of Asia-Pacific stocks outside Japan rose 0.2%, while the South Korean Kospi's gains were reduced to just 1.5% from an earlier gain of over 6%. The Nikkei225 in Japan fluctuated between gains and losses. Meanwhile, S&P 500 futures fell 0.2% along with a 1.2% drop for Hong...

The Nasdaq, chipmaker shares and major stock indexes all rose on Tuesday amid the rising tensions over the Iran conflict. Oil prices also reached a five-week high. Benchmark 10-year U.S. Treasury Yields hit a two-month peak as traders pondered whether the new spike in oil prices would affect consumer prices, and increase the likelihood of Federal Reserve rate hikes. Two oil tankers transporting Saudi crude from the Red Sea to Asia have reversed their course after being threatened by Yemen's Iran aligned Houthis. U.S. Crude?rose by 2.32%, to $85.16, and Brent rose by 2.08% to $91.08 a barrel. Bruce Zaro...

Oil prices dipped on Tuesday as markets weighed reports of mediation attempts?between Iran and the U.S. versus an exchange of new?attacks?between both and threats of a Saudi Arabian naval blockade by Yemen's Houthis. Brent crude futures fell 35 cents or 0.4% to $88.87 a barrel at 0052 GMT. U.S. West Texas intermediate crude for September was unchanged at $82.47 a barrel. Both contracts were trading at levels below their highest in over a month, which they reached in the previous session. Houthis, who are allied with Iran in Yemen, announced?on Sunday that they would impose an naval blockade against Saudi...

Gold prices were little changed on Monday, as investors assessed the escalation of the Middle East conflict that has pushed up oil prices. Meanwhile, another U.S. Federal Reserve policymaker indicated that higher interest rates may be necessary to curb inflation. As of 0756 GMT, spot gold was unchanged at $4,018.19 an ounce. U.S. Gold futures for August delivery rose 0.1% to $4 023. U.S. forces attacked Iran for the ninth day in a row on Monday. The number of confirmed American deaths from the renewed fighting has risen to three. Concerns about shipping through the Strait of Hormuz have also...

Wayne Cole gives us a look at what the future holds for European and global markets. While Spain hoisted the World Cup in celebration, the U.S. Military began?its ninth day of attacks against Iran. Iran was also?hitting targets throughout the region. On Sunday, only a few ships crossed the 'Strait of Hormuz. One was on fire. Brent crude oil rose above $90 per barrel for the very first time since June. Treasury bond futures fell as investors lowered the odds of a Federal Reserve interest rate hike in September. The implied probability was around 65%. The rise in 30-year Treasury...

Want some inspiration? Weekend Reads is a weekly roundup of what the Open Interest team has read, watched and listened to. This week, the Open?Interest team has chosen to focus on the 'race to reinvent critical mineral resources,'?oil benchmarks that are under pressure and great-power geopolitics. This weekend, we are reading... MIKE DOLAN is a columnist for ROI Finance & Markets. The Pew Research Center’s Global Attitudes Survey found that China was viewed as more favorable than the United States in 36 countries. The U.S. Department of Energy released this release by ROI Metals columnist ANDY HOME. It details five...

Asian markets fell sharply on the Friday. Equity benchmarks in Japan, Taiwan and China dropped as much as 6 percent, as global declines in technology stocks intensified. Japan's Nikkei benchmark 225 index has entered correction territory after falling more than 10% from its June 25 high. TAKAMASA ikeda, SENIOR PORTFOLIO MANGER,?GCI RESOURCES MANAGEMENT TOKYO : The Nikkei index is highly correlated to the SOX. The SOX index's growth was not sustainable, and a correction has occurred. A correction was expected, but is happening sooner than the market anticipated." The market is now unsure if hyperscalers can make returns to justify...

Oil prices increased on Friday as a result of the U.S. and Iran intensifying their attacks in the Gulf. Their broken 'truce' has limited oil flow out of the Strait of Hormuz, and 'Tehran asked the Houthi political organisation and military organization to be ready to close the Red Sea export route. Brent crude futures gained 70 cents or 0.83% to $84.93 a bar at 0312 GMT. U.S. West Texas intermediate futures also rose 81 cents or 1.03% to $79.76 a bar, erasing the losses of the previous session. Both benchmark contracts have gained nearly 12% in the past week....

The operator of Kazakhstan's Kashagan Oilfield announced?on Thursday? that an international arbitral tribunal has issued a restraining order prohibiting Kazakhstan from enforcing an environmental fine. The Kazakh Justice Ministry announced on Tuesday that Kashagan's operator must pay a fine of $4.90 billion ($2.3 trillion tenge) by July 20, 2012. The country is involved in arbitration with oil companies that work on its oilfields. It accuses them of environmental violations and corrupt practices. The North Caspian Operating Company, Kashagan’s operator, stated in a statement: "The Arbitral Tribunal has issued a Restraining Order which prohibits the Republic to take any measures to...

Stella Qiu gives us a look at what the future holds for European and global markets. The'monstrous' rally of Asian?chipmakers is now hitting a rough patch. The jitters can be seen in the extreme volatility of South Korea's KOSPI market, where 'wild swings' in chip giants like Samsung?Electronics or SK Hynix are a recurring occurrence. The index fell 6% on Friday, bringing it down to 27% below its peak in June and increasing the pain of some leveraged retail funds. This tumble is a confirmation of investors' concerns at a moment when everyone is concerned about the rising costs of...

Asian shares dropped on Thursday, as chipmakers stumbled before results from bellwether TSMC. Bonds benefited 'from another benign reading of U.S. inflation which?lessened risk of an impending rate hike. As hostilities escalated in the Middle East, oil prices continued to rise. Washington has continued to strike Iran following the re-imposition of a naval blocade on its ports. Meanwhile, Tehran has warned of an "existential conflict" with America. Brent crude futures increased 0.6% to $85.45 per barrel, adding to the 12% gain this week. The quarterly earnings of Taiwan Semiconductor Manufacturing Co. (TSMC), world's leading manufacturer of advanced AI chip, are...

Tom Westbrook gives us a look at what the future holds for European and global markets. The AI rally is experiencing some speed wobbles as Europe's?valuable? company and top supplier of chip making equipment?reports Wednesday. ASML is the only manufacturer of the lithography machines that cost $300 million and are used to create the circuitry for cutting-edge chips. LSEG estimates show that it is expected to report an 8.8% increase in the second-quarter's net profit of 2.61 billion euro ($2.99 billion), on a revenue growth of 14% at 8.8 billion euro. Analysts also expect the company's revenue forecast for the...

Norsk Hydro, the Norwegian aluminium manufacturer, reported a quarterly profit that was?above expectations? on Wednesday. Higher aluminium prices and higher?recycling? margins outweighed lower energy output and negative currency effects. Hydro enjoyed a windfall from the higher aluminium prices, regional premiums and disruptions in Middle East supplies during the second quarter. However, reduced production at its Qatalum Joint Venture limited this. The company's adjusted earnings, before interest, taxes, depreciation, and amortization, rose 15% year-over-year to 8.92 billion Norwegian Crowns ($927.0 million) during the April-June period, while the average estimate of analysts polled was 8.22 billion Norwegian Crowns. Hydro's Aluminium Metal division,...

Gold rose to a two-week high on Wednesday as technical buying boosted the price. Investors assessed the escalating conflict in the Middle East and were awaiting the U.S. Federal Reserve's meeting next week, which will provide clues about the interest rate outlook. Gold spot rose 1.3% by 0511 GMT to $4,129.43 an ounce, after hitting its highest level since July 7 earlier that day. U.S. Gold Futures for August Delivery jumped?1.4% at $4,134.50. As tensions escalate in the Middle East, oil prices and inflation fears rise. This has led to expectations of interest rate hikes which caused gold to drop...

On Wednesday, gold rose to a two-week peak on technical purchases as investors assessed the escalating conflict in the Middle East and awaited next week's Federal Reserve meeting for hints on interest rate expectations. Gold spot rose 1.6%, to $4,139.64 an ounce, by 0307 GMT. It had already reached its highest level since 7 July earlier that day. U.S. Gold futures for August delivery rose 1.7% to $4144.20. Last week, the escalating tensions in Middle East pushed up oil prices and inflation concerns. This boosted expectations for interest rate hikes which led to gold's steepest weekly decline since early June....

Some investors are buying back the laggards as big investors start to sell and Indonesia's battered, unloved stock markets is gaining some love. Jakarta's stock market has been Asia's worst performing'major' stock market for this year. It is down by 28%. Investors have been looking at markets with less of a focus on AI. David Chao is the Asia-Pacific Global Market Strategist at Invesco, based in Singapore. He said: "We have been buying Indonesia and taking a profit in South Korea." "Indonesia remains the most overlooked macro-growth story." BARGAIN HUNTERS ARE SEEKING VALUE AS SENTIMENTS CHANGE Although still cautious, the...

President Donald Trump signed an executive directive on Monday that makes it more difficult for U.S. Defense contractors to get waivers to purchase critical minerals and materials from China or other banned foreign suppliers. This is the latest attempt by the Trump administration to reduce its reliance on overseas supply chain for weapons production. Defense contractors must now do more than just show that a Chinese supplier offers the cheapest or easiest option. Companies requesting a waiver must prove that they have looked for alternatives, disclosed the origins of materials and provided a plan on how to reduce their reliance...

Gold prices were little changed Monday as investors assessed the escalation of the Middle East conflict that has pushed up oil prices, and another U.S. Federal Reserve official signaled that higher interest rates may be necessary to reduce price pressures. As of 0455 GMT, spot gold was $4,018.90 an ounce. U.S. Gold Futures for August 'delivery' gained 0.1%, to $4 023.10. U.S. gold futures for August?delivery gained 0.1% to $4,023.10. Brian Lan, GoldSilver Central's Managing Director, said: "The war continues, and the focus is on rising oil costs that could lead higher inflation. This is what keeps gold under pressure."...

Gold was stable on Friday, but on course to suffer its largest weekly loss in six years as escalating tensions between the U.S. and Iran drove up energy prices, fueling inflation fears, and reinforcing expectation of U.S. rate hikes. By 0932 am EDT (1332 GMT), spot gold was unchanged, at $3.970.35 an ounce. It is still near its lowest price since July 1. Prices have fallen by more than 3% for the entire week. U.S. Gold Futures?for August Delivery fell 0.5% to $3973.10. The U.S. Dollar rose for the second consecutive session, increasing the price of bullion for foreign buyers....

Anglo American chose a preferred bidder for its De Beers stake, and Botswana is weighing up whether to exercise its first refusal right on its own or with Anglo American's selected bidder. Anglo sold De Beers in May 2024, as part of an overall restructuring that was prompted by the 'falling diamond prices' and the growing popularity for synthetic diamonds. Private buyers and the government of Botswana (which already owns 15%) have shown interest in this business. Moeti Mohwasa, Botswana’s Minister of State President, Defence and Security, told lawmakers that Anglo American had conducted a competitive bid process with three...

Gold prices climbed on Friday but were set to fall?weekly? as tensions between the U.S. and Iran pushed up oil prices, raising inflation fears and supporting an expectation of higher U.S. rates. Gold spot rose 0.7%, to $3.996.29 an ounce, by 1010 GMT. It had fallen as low as it has been since July 1, earlier in the day. Prices are down by over 3% for the entire week. U.S. Gold Futures for August Delivery gained 0.2% to $4,000. Fawad Razaqzada is a Forex.com market analyst. He said that when the price drops, some short sellers will profit. If oil...

Gold is on track to suffer its largest weekly loss in six weeks on Friday as the escalating U.S. - Iran conflict has pushed up oil prices. This will increase inflationary pressures, and strengthen the case for higher U.S. rates. Gold spot was up 0.6% to $3,993.22 an ounce at 0758 GMT. It had been as low as it has been since July 1, earlier in the day. U.S. Gold Futures for August Delivery gained 0.1% to $ 3,996.90. The metal is down 3% this week, the biggest drop since June 1. This week's softer U.S. inflation data has not...

Gold prices fell on Thursday, as tensions in the Middle East increased inflation fears and uncertainty about U.S. interest rate trends. Gold futures in the U.S. fell 0.4% to $4.037.20 per ounce at 0834 GMT. Spot gold dropped 0.7% to $4.032.19 an ounce. Gold is still influenced by geopolitics and inflation. The continued U.S. attacks against Iran, and the disruptions of the Strait of Hormuz are supporting oil prices and maintaining inflationary risks," says?Niko tzabouras a senior analyst at Jefferies owned Tradu.com. After reimposing its naval blockade, the U.S. launched a second wave of attacks against Iran's missile and coastal...

In an attempt to protect the future of steel production, the UK government announced in a statement on Thursday that it had 'nationalised' British Steel, which was previously owned by Chinese investors. British Steel's public ownership is necessary for the UK to safeguard its national interests, according to the government. "British Steel" is a part of the fabric and strength of Britain. The decision today secures the future for steelmaking in Britain, protects "skilled" jobs and safeguards an important national capability," said Keir starmer, the outgoing prime minister. In April 2025, the 'government' took over the operational control of British...