Western Europe

Investors jumped on Wednesday as they seized on the prospect of lower rates and shrugged off the political drama in France, Japan, and the United States. Meanwhile, a prolonged U.S. shutdown pushed gold to $4,000 an ounce for first time. Gold prices have risen 50% in the past year due to the prospect of Federal Reserve rate cuts and the demand for safe-haven assets resulting from political and economic concerns. Gold is traditionally seen as a safe haven during periods of economic and political instability. The weaker dollar has also been a factor in this rally. It was driven by...

Investors were weighed down by the political fallout in France and Japan. Meanwhile, a prolonged U.S. shutdown pushed gold spot prices up to a record level of $4,000 an ounce. The Japanese yen was hovering near its eight-month-low as investors awaited the fiscal policy direction of prime minister-in waiting Sanae Takaichi. Meanwhile, the euro was under stress after French Prime Minister Sebastien lecornu's resignation on Monday. The dollar was a bit more optimistic. The dollar index (which measures the U.S. money against six other currencies) hit its highest level in August. However, sentiment was still gloomy as the shutdown entered...

Oil prices extended gains on Tuesday as a smaller-than-expected November output hike by OPEC+ helped to ease some fears of a growing supply glut. Brent crude futures rose 23 cents or 0.35% to $65.70 per barrel at 0356 GMT. U.S. West Texas Intermediate Crude climbed 21 cents or 0.34% to $61.90. The previous session saw both contracts settle more than 1% above the previous one after the Organization of the Petroleum Exporting Countries, Russia and other smaller producers - also known as OPEC+ – decided to increase their collective oil production from November by 137,000 barrels a day. Analysts at...

The major stock indexes rose on Monday. Technology shares rose on news that AMD had signed a deal to supply artificial intelligence chips with OpenAI. Meanwhile, the yen, euro and dollar fell against each other after Japan's ruling political party chose a new leader, and France's newly formed government resigned. Bitcoin reached a new record high, as investors sought out alternative assets amid the uncertainty caused by the U.S. shutdown. The largest cryptocurrency in the world was up by 2.16% to $125,426.34. The euro fell 0.2% to $1.1717. Sebastien lecornu, the new French prime minister, resigned Monday just 14 hours...

The major stock indexes rose on Monday. Technology shares gained after AMD announced a deal to supply AI chips with OpenAI. Meanwhile, the Japanese yen, the euro and the French franc fell against the dollar as the ruling party in Japan elected a new president and the new government in France resigned. Bitcoin was near its all-time high on Monday as investors turned to alternative assets for a safe haven of value, as uncertainty over the U.S. shutdown kept them uncertain. The cryptocurrency last rose 1.61% to $124,755.87. The euro fell 0.2% to $1.1717. Sebastien lecornu, the new French prime...

Sanae Takaichi, the fiscal and monetary dove who was recently elected leader of the ruling Party, has now become Japan's first woman prime minister. Gold reached a new record high of almost $4,000 on Sunday. The leading cryptocurrency, bitcoin, also rose to its lifetime high. Investors are increasingly looking to alternative assets to store value, as the U.S. shutdown has strained nerves. The Nikkei rose above 48,000. This was the first time in history that Takaichi had beaten the moderate Shinjiro. Koizumi at the leadership vote of the Liberal Democratic Party on Saturday. This stoked expectations for fiscal stimulus. The...

Kevin Buckland gives us a look at what the future holds for European and global markets. The global markets were firmly in control of politics on Monday. This was not least because the right-wing fiscal dove Sanae Takayi won a weekend surprise victory that will make her Japan's first woman prime minister. In the first few minutes of trading, Nikkei broke through several psychologically significant levels and reached a new all-time record not far off 48,000. The long-dated bond rates, on the other hand, rose to just below record highs due to concerns about the country's finances. The yen fell...

Sanae Takaichi, the fiscal and monetary dove who was recently elected leader of the ruling Party, has now become Japan's first woman prime minister. Gold reached a new record high above $3,900 on Sunday. The leading cryptocurrency, bitcoin, also rose to a lifetime-high. Investors are increasingly looking to alternative assets to store value, as the U.S. shutdown has frayed their nerves. In the first 15 trading minutes, Japan's Nikkei rose as high as 4.3%, to an all-time high of 47,734.04, after Takaichi defeated the more moderate Shinjiro in the Liberal Democratic Party leadership vote, on Saturday. This stoked expectations for...

Early Monday, oil prices were up about 1% after OPEC+ reported a modester monthly production increase than expected. This helped to calm some fears about the addition of supply. Brent crude futures were up 63 cents or 1% to $65.16 per barrel at 2310 GMT. U.S. West Texas intermediate crude was $61.46 a barrel, an increase of 58 cents or 1%. The price increase is primarily due to OPEC+’s decision to raise production less than expected next month, as the group aimed at cushioning the recent slump on oil markets," said Tina Teng, an independent analyst. She added, "However the...

Even though the U.S. Government is shut down, this has not stopped stocks from reaching new highs. They are confident that rate cuts that favor bulls will continue to keep momentum. One problem is that it's difficult to see what's happening with the economy. Here is your week ahead from Alden Bentley, Rocky Swift and Amanda Cooper, in London, and Alun, Dhara and Amanda Ranasinghe in New York. 1/ DOLLAR BEAR SHARPENS THEIR CLAWS The dollar is in a good position to start the final quarter of 2025. After falling in the first two quarterly periods, due to criticism of...

After four consecutive sessions of declines, oil prices rose by 1% on Friday following a fire at one of the biggest refineries in the U.S. West Coast. However, they were still on course for their steepest week-long fall since late June. Brent crude futures rose 61 cents or 1% to $64.73 per barrel at 0658 GMT. U.S. West Texas Intermediate Crude climbed by 62 Cents, or 1% to $61.10 per barrel. According to a county official, the fire was contained to just one area at Chevron’s El Segundo Refinery. The U.S. Energy Major also reported a flare-up emergency at its...

Ankur Banerjee gives us a look at what the future holds for European and global markets. The U.S. government shutdown and political gridlock are not likely to end any time soon. Stocks and gold have still reached new record highs as investors focus on the Federal Reserve's rate-cutting path. Markets are taking a more risky approach, despite the possibility of a prolonged shutdown. Due to the shutdown, traders don't need to wait for Friday's U.S. employment report. However, manufacturing data across Europe could influence the markets and highlight the impact of tariffs. We have said that for some time, but...

Swiss industry expressed concern on Wednesday over the European Union plans to reduce tariff-free import quotas of steel by almost half, and to impose a 50% tax for excess shipments. They urged the bloc to make an exception for Switzerland. Swissmem, an industry association, said that curbs on the free trade would harm Swiss manufacturers. They are already subject to much higher U.S. tariffs as part of the Trump administration’s effort to reorder global trade. EU steel is protected at the moment by safeguards which cap imports for 26 steel grades. Any steel imported above these limits will be subject...

After several days of fuel station closures, and amid fears of a fuel shortage following an al-Qaeda-linked blockade of fuel imports in Mali’s capital Bamako last month, motorists waited in long lines outside the stations on Wednesday. Since last week, many stations have been forced to shut down or only supply diesel. Analysts say this is a tactic used by militant groups to put pressure on the military-led Mali government. They want to cut of its economic oxygen. In a video announcing a blockade, a militant from Jama'at Nusrat al-Islam wal-Muslimin announced that "we are telling all traders" who import...

Teck Resources Limited, a Canadian mining company, cut its copper production forecast for its flagship Quebrada blanca (QB), in Chile until 2028. This was after a review of the entire operations and merger with Anglo American. Teck's shares rose by 2% on the Toronto Stock Exchange Wednesday morning. The copper production guidance for 2026 is now between 200,000 and 235,000 metric tonnes, down from the previous range of 280,000 to 3110,000 tons. Teck has also reduced its molybdenum guidance from 6,400 to 7600 tons to 2,800-3,400 tons. Teck has revised its copper production guidance for 2025 to 170,000 to 195,000...

International Copper Study Group (ICSG), a group of researchers, said that the global refined copper market will be in deficit by 2026. This is due to a slower growth of production. The copper price briefly reached a 16-month high on Wednesday, due to fears about possible shortages caused by a recent series of mine disruptions in Indonesia. Chile and Congo. In a statement released on Wednesday, the ICSG said that these incidents prompted it to lower its forecast of the global mine production growth in 2025 to just 1.4% instead of the 2.3% expected in April. These incidents will reduce...

Sources told Wednesday that two senior Indian ministers, in a rare intervention, have urged Tata Group’s charity arm to solve internal boardroom conflicts to ensure stability at its sprawling $180 billion business empire. A year after Ratan Tata's death, the discord in Tata Trusts has raised concerns that the bitter public spat of 2016 between Tata Sons and the charity could repeat itself, damaging the reputation of India’s most famous group. Tata Trusts holds a 66% stake of Tata Sons and has the power to make major strategic decisions. Tata Sons is responsible for 30 companies, ranging from autos to...

The copper price briefly reached a 16-month high on Wednesday, due to fears of a possible shortage from a number of mine disruptions. However, a stronger dollar slowed the rise. Aluminum prices also reached their highest level in 16 months, as inventories decreased. The price of three-month copper at the London Metal Exchange rose to $10,815 a metric ton. This was the highest since May 22, last year. It then settled 0.1% higher, at $10,771, in open-outcry official trading. LME copper is up 22% this year so far, boosted in recent weeks by the problems in major mines in Indonesia...

Anglo American's CEO Duncan Wanblad stated on Wednesday that the company still views Africa as a part of its future because of its vital mineral resources. This is despite recent restructurings and asset sales in Africa. Anglo American is exiting its platinum and coal operations in South Africa where it was founded more than a century earlier. It will sell diamond miner De Beers and shift its focus on copper, an essential metal for the clean energy transformation. Kumba Iron Ore is the only major asset of South Africa. Wanblad, despite these exits, said Anglo intended to use South Africa's...

After a day of losses, copper prices have risen slightly as supply disruptions are credited with easing the pressure caused by a higher dollar. The London Metal Exchange reported that the price of three-month copper was $10,768 per ton at 0713 GMT. This is a 0.1% increase. The dollar index continued to rise, reaching a new high of more than one month against its competitors. A firmer dollar makes greenback-denominated assets, like copper, more expensive for holders of other currencies. Seven workers were killed in a mudslide disaster at Indonesia's Grasberg copper mine, the second largest mine in the world...

On Tuesday, copper prices rose on the back of continued mine disruptions. However, they remained below 16-month-highs reached in the previous session due to a stronger dollar. In open-outcry official trading, three-month copper at the London Metal Exchange rose 0.4% to $10,696 per kilogram, after hitting its highest level since May 2024 at $10800 on Monday. LME copper prices have risen 21% this year. Recent weeks saw a rise in price due to mine problems in Chile and Congo, as well as Indonesia. Seven workers were killed in a mudslide disaster at the Grasberg copper mine, which is one of...

The German-owned Knauf Group, a family-owned construction material manufacturer, announced on Tuesday that its attempts to sell off its Russian business, which have been ongoing since April of last year, failed. In a press release, the family-owned business with sales of about 18,20 billion euros (15.6 billion euro) said that a prospective buyer who was not named had abandoned talks. The business will continue to be run separately by local management in Russia "in full compliance" with sanctions, it said. Knauf, which makes gypsum board, drywall and insulation slabs said that in April 2024 it was working to complete a...

The copper price rose on Tuesday due to concerns about supply from the top producers Chile and Indonesia. However, a stronger U.S. Dollar kept gains in check. The London Metal Exchange reported that the price of three-month copper rose by 0.3%, to $10.679.50 per ton at 0717 GMT. The metal reached its highest level since May 2024 on Monday before easing. Freeport Miner said that five workers who had been missing following a mudflow disaster at the Grasberg Copper and Gold Mine in Indonesia, last month, have now been found dead. Fawad Rasaqzada is a market analyst for City Index...

Rio Tinto announced on Tuesday that it, along with joint venture partners Mitsui Iron Ore & Nippon Steel, will invest $733 Million to develop new ore deposits in the West Angelas Hub of Western Australia's Pilbara Region. Rio Tinto said that the West Angelas project, for which it will contribute $389 millions, will maintain the hub’s annual production capability at 35 million tonne, and extend mining operations by several years. Around 600 full-time jobs will be created during construction, and around 950 will remain after the project is operational. The autonomous trucking of ore will begin in 2027. Rio Mining...