Western Europe

Are you looking for inspiration? Weekend Reads?reports on what the Open Interest team is reading, watching and listening to every Friday. This week, the picks focus on America's reliance upon Chinese goods, U.S.?overheating?, geothermal energy, green steel, and risks emanating from bond market. We're reading this 'weekend'... MIKE DOLAN. ROI Finance & Markets columnist. Mary Lovely and Christine Wan from Washington's Peterson Institute discuss how U.S. Policymakers have not made much progress in reducing America’s dependency on Chinese goods and services despite many years of effort. Direct trade declined sharply over the seven-year period from 2010 to 2024. However, direct...

Stella Qiu gives us a look at what the future holds for European and global markets. The markets are mostly in a holding pattern, as traders have stayed on the sidelines ahead of a U.S. Payrolls Report that is notoriously difficult to predict from month to month. The stakes could not be higher, as the markets are unable to decide what the Federal Reserve's next move will be. A rate hike of about 54% is priced in, which makes it a coin flip. This is exactly the type of ambiguity that new Chair Kevin Warsh enjoys cultivating. There is a...

Oil prices rose on Friday as concerns grew over the opening of the Strait of Hormuz. Iran and Oman proposed banning hostile vessels from the Strait of Hormuz, while imposing heavy fines for those who violated these rules. Brent crude futures rose by?80 cents, or 0.97 percent, to $83.29 per barrel at 0303 GMT. U.S. West Texas Intermediate Futures rose 64 cents or 0.83% to $77.93. Oil futures settled at $3.03 a barrel as Iran considered a bill that would ban U.S. vessels and Israeli vessels from entering the Strait of Hormuz, where a fifth of world oil and LNG...

Investors weighed whether the progress of Iran-Oman talks could pave the path for a U.S. and Iran peace deal to end the five-month conflict and reopen Strait of Hormuz. Brent crude futures fell 37 cents or 0.5% to $79.08 per barrel at 0024 GMT. ?U.S. West Texas Intermediate futures fell 53 cents or 0.7% to $74.69 per barrel. Brent prices were slightly higher on Wednesday while WTI was a little lower. Yuki Takashima is an economist at Nomura Securities. She said that there was some selling pressure following reports of progress in the talks between Iran and Oman. Investors are...

The major stock indexes were mixed on Wednesday. SpaceX shares and Advanced Micro Devices declined, and U.S. oil prices eased as signs of progress towards a peace agreement with Iran emerged. Two?regional? officials and a senior Iranian source said that a proposed agreement between Iran, Oman and the United States to end the five-month war between Iran and America would give Tehran control of ships entering the Gulf via the Strait of Hormuz. This is one of the largest concessions to Iran yet. U.S. West Texas Intermediate Futures dropped 55 cents or 0.73% to $75.22 per barrel. Brent crude futures...

The Asian stock market jumped Wednesday as Wall Street reached record highs on the back of robust earnings, and a renewed interest in tech. Meanwhile, oil prices and bond yields fell on hopes of progress regarding opening of the Strait of Hormuz. Japan's Nikkei rose 3.5% as more evidence of the huge sums spent on 'AI?capex was revealed, while South Korea maintained its wild swings and rose 4.3%. The broadest MSCI index of Asia-Pacific stocks outside Japan rose by 2.3% while blue chips in China gained 1.5%. The rally in tech came despite AMD's setback. AMD fell 8.8% following hours,...

After steep drops in the two previous trading sessions, oil prices continued to 'decline' on Wednesday as investors waited for signs that efforts to end the?Iran war and restore traffic through the blockaded Strait of Hormuz were making progress. Brent crude futures fell 92 cents or 1.2% to $78.44 per barrel at 0330 GMT. The price has fallen by more than 12% this week. U.S. West Texas Intermediate Futures fell $1.07 or 1.4% to $74.70 per barrel, and are down over 11% for the week. Qatar announced on Tuesday that mediators are making progress to end the conflict, which is...

Gold prices rose 1% on Tuesday, supported by the decline in oil prices, which tempered inflation fears and lowered U.S. rate hike bets. Markets awaited more clues about the Federal Reserve’s policy direction. Spot gold increased 1% at $4,092.43 an ounce as of 12:50 pm EDT (1650 GMT), and U.S. gold futures rose 1.5% to $4149.50. The oil price fell to its lowest level in three weeks after remarks by officials from?Qatari, the United States and other countries raised hopes of a diplomatic solution to the Iran War that could improve the?oil flow through the Strait of Hormuz. Brent crude...

European stocks rose alongside U.S. Futures on Tuesday. However, a'rebound in the oil price underscored market scepticism about the U.S. - Iran war being resolved quickly by diplomacy. The yen has weakened, but still held onto most of its gains following last week's joint intervention by Washington and Tokyo to support the currency. Majed al Ansari, spokesperson for the Qatar Foreign Ministry, said that diplomatic efforts were being made to end the U.S. - Iran war. However an attack near Strait of Hormuz raised doubts about the conflict's conclusion. Brent futures increased 1.5% to $85.05 per barrel, after falling 7%...

European stocks rose?alongside U.S. Futures on Tuesday. However, a rebound in the oil price underscored market scepticism about the U.S. -Iran War?being resolved quickly by diplomacy. The yen eased slightly but still held onto most of its gains after the joint intervention by Tokyo and Washington last week to support the currency. The latest attack in the Strait of Hormuz highlighted the risks for global energy flows. Brent futures increased 1.4% to $84.95 per barrel, after falling 7% the previous session and reaching a three-week high. Europe's STOXX600.STOXX rose 0.55% with tech stocks up 1.7%. Nasdaq Futures rose 0.67%, while...

Asian markets opened with modest gains as investors followed a rally around the world. Oil prices remained near their lowest levels for weeks, as the U.S. - Iran conflict remained stalemated. MSCI's broadest index of Asia-Pacific stocks outside Japan was up 0.1%. South Korean shares rallied as much as 2.1 percent. Japan's Nikkei fell 0.3% while S&P500 e-minis futures grew 0.1%. The Dow Jones Industrial Average closed at a record high overnight after data showed that U.S. Manufacturing Activity increased to its highest level in over four years in July. Chris Weston is the head of research for Pepperstone Group,...

What is important in the U.S. and international markets today by Mike Dolan Editor-at-Large of Finance and Markets The yen strengthened further on Monday, as the U.S. government and Japanese government confirmed their first joint interventions since 2011 to "prop up" the ailing currency. The timing and the impact of this move will be closely examined. Below, I'll go into more detail about that. Listen to the latest episode of the Morning Bid podcast. We discuss the 'historic' intervention, U.S. earnings growth, and the latest news on Iran. Subscribe to the Morning Bid daily podcast and hear journalists discussing the...

The price of copper remained above $14,000 on Friday, as tighter inventories and?supply worries put the metal in a position to have its best week in nearly three months. Traders?awaited the news from the?mining panel convened by the?U.S. Donald Trump, President of the United States. In official open outcry, benchmark three-month copper at the London Metal Exchange fell 0.1% to $14.090 per metric ton. The copper price was set to end the week with a 2.2% gain, its biggest weekly gain since the week of?May 8th. LME copper reached a six-month peak of $14,369.50 after reports that the Democratic Republic...

Thyssenkrupp shareholders will vote on Friday,?Feb. 14, on the proposal to spin off the materials trading division of the German conglomerate, which is its largest sales division. This is the latest step taken by the German conglomerate in order to streamline its complex structure. Thyssenkrupp would continue its overhaul by spinning off 49% of tk-accelis, which is a wholesaler of raw materials like steel and alloys and operates warehouses for them. Separate listings of the?hydrogen and defence divisions were made in recent years. Investors will vote on the matter at an "extraordinary general meeting" later on Friday. The move could...

Thyssenkrupp shareholders will vote on Friday on the proposed spin-off of the materials trading division. This is the largest division based on sales in the German conglomerate. Thyssenkrupp would continue its overhaul by separating the?hydrogen division and defence division in recent years. Investors are expected to vote on the issue at an extraordinary meeting on Friday. Analysts at Jefferies believe that tk Accelis, which has around 15,500 employees, is active across 30 countries, and generated sales of EUR11.4billion in the past fiscal year, could achieve an enterprise worth of EUR3.6billion ($4.2billion). During a capital market day held last month, tk...

James Hardie increased its annual earnings forecast on Friday. It cited synergies from its acquisition of AZEK and manufacturing efficiencies, as well as strong execution across its businesses. The company also reported a 54% increase in its first-quarter profits. As affordability restrictions in the?U.S. grew, pressure was put on the company's Siding & Trim division. New construction activity slowed and distributor inventories were high. The company's previous forecast was $5.25 to $5.41 Billion. It now expects a net sales of $5.56 to $5.72 Billion in 2027. It also raised its forecasted adjusted earnings before taxes, depreciation, and?amortization for the year...

Kerim Sener, Managing Director of Ariana Resources (a London-listed company), said that the company expects to begin producing gold in Zimbabwe from its "greenfield" project by 2028. Ariana Resources' Dokwe Project, located about 110 kilometres north-west from Bulawayo (Zimbabwe’s second largest city), is a 'large-scale greenfield' project. South Africa has a rich history of gold mining, but it has been unable to attract substantial investment after international mining companies such as Rio Tinto, Delta Gold, and Kinross left the country more than 20 years ago due to a political crisis and economic crisis. A few mid-tier miners and many small-scale...

Gold reached a seven-week high on Thursday and extended gains into the fourth session as the hopes of reopening the Strait of Hormuz helped ease fears of inflation and rising interest rates. Gold spot was up 0.6% to $4,271.33 an ounce at 0843 GMT after hitting its highest level in June 18 earlier. The bullion market posted its largest daily gain since February on Wednesday, with an increase of $4,267.24 for each ounce. U.S. Gold Futures increased 0.6% to $4330.20. Gold tries to hold on to its recent gains amid increasing optimism surrounding the Strait of Hormuz. The hope for...

The gold price climbed to its highest level in nearly seven weeks on March 3. It is on track to be the largest daily increase?since the beginning of February, due to the lower Treasury yields and the?hopes of progress regarding the opening of the Strait of Hormuz. By 2:15 pm, spot gold had risen 4.4% to $4253.36 an ounce. ET (1815 GMT), it had reached $4,264.93 - its highest level since June 18 - and was above the 50 day moving average which now supports gold at $4,160. U.S. Gold Futures for December Delivery rose by 3.7%, to $4,305.20 an...

The gold price rose to its highest level in nearly seven weeks on Wednesday and was on track to post the largest daily increase since February due?to lower Treasury rates and hopes of progress regarding opening the Strait of Hormuz. By 11:04 am, spot gold had risen 4.4% per ounce to $4256.85. The spot gold price rose 4.4% to $4,256.85 per ounce at 11:04 a.m. ET (1504 GMT), after reaching $4,258.99 - its highest level since June 18 - and breaking above the 50 day moving average. It now stands at $4,160. U.S. Gold Futures for December Delivery rose by...

Gary Nagle, the CEO of Glencore, said that the company had?taken an provision relating to Radiant World. However, he added that Glencore's exposure towards the iron ore trading firm was not significant. We have some existing contracts that still need to be completed. Nagle said on a conference call that they are assessing how to deal with them in a legal manner. However, we have stopped doing any new business. Bloomberg reported that last week, fellow trading houses Vitol and Cargill had stopped doing business Radiant World because they were concerned about the validity of invoices sent to their banks....

Rio Tinto's executive stated on Wednesday that the supply pressure resulting from the depletion?of?iron ore mining operations built earlier in this century, such as those found in Australia, will?underpin iron ore prices and the market over the next decade. Rio expects that it will invest over $13 billion in new mines, plants and equipment in the Pilbara Region from 2025-2027. It estimates that 800 million tons of additional production is needed globally within the next decade. Just 300 millions tonnes have been committed. Matthew Holcz said at a luncheon event held by the Melbourne Mining Club that "it feels like...

Voestalpine, an Austrian steelmaker, reported on Wednesday that its core earnings for the first quarter were 'above expectations.' This was boosted by strong aerospace demand and resilient steel margins. The company reported quarterly earnings of EUR495 millions ($571million), up from EUR361 millions a year earlier and slightly higher than the EUR491 milliards expected by LSEG's polled analysts. It said that the earnings included a one-off positive effect of approximately EUR100 million relating to the sale of its subsidiary Boehler Profil, and reorganisations measures in the High Performance Metals Division. Steel division of the company increased quarterly EBITDA to?14.3%, up from...

Gold rose for a third session in a row on Wednesday. This was helped by the softer dollar and lower crude oil prices. Investors were waiting for U.S. employment data to get a sense of interest rate outlook. By 0455 GMT spot gold had risen 1.4% to $4,133.83 an ounce, which was a new two-week high. U.S. Gold Futures rose 1%, to $4191.90. Holders of other currencies will find greenback-priced gold more appealing. Oil continued to decline after two days of steep drops. Lower oil prices can reduce inflation fears that are often the cause of expectations for higher interest...