All the tremors around markets on Friday and the weekend buried the appearance of a major global oil demand estimate of the early impact of the stuttering transition away from conventionally powered vehicles to EVs in their various forms. The International Energy Agency said that while the trimming of its demand estimates this year and […]
IEA reports growing impact of EV sales on global oil demand Read More »
Two months after it was first mooted, Kin Mining (ASX:KIN) and PNX Metals (ASX:PNX) are set to marry in an all-share union of mining’s smaller players. Kin had raised the possibility of a PNX deal back in mid-January. Trading in Kin’s shares was halted to allow for the likely confirmation of the deal to be
Kin Mining and PNX Metals announce merger Read More »
Oil rebounded Friday even as the International Energy Agency trimmed its forecast rise in 2024 global oil demand. The IEA’s report came as rising Middle East tensions combined to push prices higher after the brief halt in the gains midweek. The IEA cut its projected rise in demand this year by 100,000 barrels a day
Oil rebounds despite IEA’s trimmed forecast Read More »
China’s strong start to 2024 came to a rapid halt in March, judging by this week’s inflation and trade data. Consumer price inflation edged closer to a return to deflation, and producer price deflation surprised, being worse than forecast on Thursday. On Friday, the country’s trade performance last month came in much weaker than forecast.
China’s strong 2024 start halts Read More »
Gold prices surged over $2,400 an ounce in early trading on Friday, hitting successive, never-before-contemplated highs in the wake of the very dovish statements from the European Central Bank and its head, Christine Lagarde, about a potential June rate cut. However, they quickly reversed course and retreated back under the $2,400 level after traders realized
Gold prices soar to record highs before retreating Read More »
Federal Reserve Bank of San Francisco President Mary Daly says there is no urgency to adjust interest rates, given a strong labor market, robust consumer spending, and a slower pace of moderation in the inflation rate in recent months. The US central bank still has “a lot of work to do” before it can be
Feds Daly says there is absolutely no urgency to cut rates Read More »
What’s ahead this week for markets? A lot of headaches, in addition to the usual flow of reports and data. US quarterlies and retail sales data, Australian jobs, inflation reports, exploration and production quarterlies, Chinese GDP, production, investment, and retail sales. But markets will now be watching for two issues: anything remotely inflationary, which brings
Market expectations for the week ahead Read More »
Two weeks after experiencing a price slide in late March and early April, world iron ore prices made a remarkable recovery last week, registering a substantial 15% gain. On Friday, the SGC price closed at $US111.15 a tonne, marking its highest point in five weeks. This resurgence defied the weakening trend observed in recent weeks,
World iron ore prices surge by 15% following recent dip Read More »
Shares in the oil major BP surged by 3.4% on Friday following reports that the United Arab Emirates’ (UAE) state-owned oil company had recently considered purchasing the UK-based company but withdrew from preliminary talks. The exact reason for the loss of interest remains unknown, but there is a UK law, the National Security and Investment
BP shares surge amidst UAE’s acquisition interest Read More »
The US March quarter reporting season accelerates this week with three more banks and Netflix down to be the most watched filers. The trio of big banks reporting this week are Bank of America, Goldman Sachs, and Morgan Stanley – which is reported to be facing increasing scrutiny from US regulators over some of its
US quarterly reporting season heats up Read More »
