The recent sharp price increase in base metal prices have prompted Commerzbank AG to raise their outlook for the commodities in the short-term. “We have adjusted our base metal price forecasts and now expect them to be higher than previously thought in most cases,” Thu Lan Nguyen, head of FX and…
Global attention was fixed on a range of significant developments this Wednesday, from a major speech by a top US Federal Reserve official on the economic impact of AI to a stark new forecast on global energy demand. In corporate news, shares of toymaker Pop Mart dropped on warnings of…
Shares of Pop Mart International Group, the toymaker behind the wildly popular Labubu doll, fell sharply in Hong Kong on Wednesday after analysts at Bernstein issued a stark warning that the company’s fourth-quarter results could disappoint.The stock slid as much as 3.7%, making it one of the worst performers on…
General Motors (GM) has instructed several thousand of its suppliers to remove Chinese parts and materials from their supply chains, four people familiar with the matter said, Reuters reported. The move reflects the automaker’s growing concern over geopolitical disruptions and a push to build a more secure and self-sufficient manufacturing…
Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, reported a 17% jump in third-quarter profit on Wednesday, beating market expectations on the back of robust demand for artificial intelligence (AI) servers.Net profit for the July–September period reached T$57.67 billion ($1.89 billion), above the T$50.4 billion average forecast compiled by LSEG.…
European stocks opened broadly higher on Wednesday, extending the positive momentum from earlier in the week as investor optimism grew that the record-long US government shutdown is finally nearing an end.The pan-European Stoxx 600 index rose 0.4% shortly after the opening bell, with most major bourses in positive territory. Germany’s…
While most energy prices have fallen since the start of the year, gasoil is proving to be a surprising exception. Despite Brent crude oil being 14% cheaper, the next-due gasoil contract on the Intercontinental Exchange is currently trading at just under $750 per ton, marking a 7.5% increase since January.Accordingly, the…
Famed investor Jim Cramer is sounding the alarm – not of danger, but of opportunity.In a recent segment, the veteran market commentator urged investors to reconsider beaten-down packaged goods stocks, arguing that the sector may be nearing a cyclical bottom.Among his top picks: Procter & Gamble (NYSE: PG) and Kimberly-Clark…
General Motors (GM) has instructed several thousand of its suppliers to remove Chinese parts and materials from their supply chains, four people familiar with the matter said, Reuters reported. The move reflects the automaker’s growing concern over geopolitical disruptions and a push to build a more secure and self-sufficient manufacturing…
Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, reported a 17% jump in third-quarter profit on Wednesday, beating market expectations on the back of robust demand for artificial intelligence (AI) servers.Net profit for the July–September period reached T$57.67 billion ($1.89 billion), above the T$50.4 billion average forecast compiled by LSEG.…