Western Europe

On Monday, Europe's truckmakers urged the EU to delay compliance with 2030 CO2 reduction targets by three year - due to insufficient charging networks and high energy costs. Manufacturers in the European Union must reduce CO2 emissions from new heavy-duty cars by 43% in 2030, compared with 2025 levels. They will also have to cut them by 64% in 2035, and 90% in 2040. There are fines for non-compliance, but there is the option to earn emission credits between 2025 and 2029. The European Automobile Manufacturers' Association (ACEA) said that only 2.4% new 'heavy duty' vehicles are currently zero-emission. This...

The French railway operator and French authorities confirmed that a train derailed in Normandy in northern France between Rouen-Caen on Friday night at around 7:30 pm local time. The head of the local authority Jean-Benoit Albertini told reporters that one of the injured was in a critical condition and had to be evacuated via helicopter. A spokesperson for the French police said that the train 'derailed after hitting an unknown object. The French railway operator SNCF said an investigation was underway to determine the cause of this accident. In a post on X, French Transport Minister Philippe Tabarot revealed that...

Here are some of the key factors that could affect Swiss stocks on Friday: EUROPEAN MARKETS European?shares? close at a two-month low after ECB hike fuels further tightening of bets. COMPANY STATEMENTS ZURICH INSURANCE AGENCY Financial Times reports that Allianz and Zurich Insurance?insured transactions related to the embattled Iron Ore Trader Radiant World. NESTLE Nestle CEO: Middle East conflict is driving inflation and higher supplier costs. FLUGHAFEN ZUERICH Zurich Airport handled?3,326,119 passengers in August, according to the?Swiss firm. ECONOMY Swiss August consumer sentiment due at 7am GMT (Reporting by Zurich newsroom ?and Gdansk newsroom) |1|For Top News in a multimedia...

Michael O'Leary, the Chief Executive of Ryanair, accused the head of Britain's Air Traffic Control Operator of lying about an outage that led to thousands of canceled flights earlier this week. O'Leary stated that NATS had informed Ryanair that the outage is caused by an errant flight plan. This was the same problem which caused a major disruption to the airline in 2023. NATS CEO Martin Rolfe told BBC Radio that he believes the latest outage was caused by "something else" than previous incidents. O'Leary has called on Rolfe repeatedly to resign. He rejected this explanation. "NATS has?told me it...

The container ship arrived in Britain on Wednesday, after a 'historic voyage' from China via the Arctic. This is part of plans to encourage more ships to use this route as an alternative to the Suez Canal that could be shorter and safer. The Dubai Tower reached Teesport, off the northeast coast of England on August 15 after arriving from eastern China. The Arctic route, which is significantly faster than freighters that go through the Suez Canal or around the Cape Good Hope, is meant to be a start for a regular container service from Europe via the North Sea...

The French Ministry of Transport, Philippe Tabarot, announced that France had begun testing two cars in order to assess Tesla's FSD (advanced driver assistance system). This could be a major step towards Europe's approval of Elon Musk’s autonomous driving technology. The Netherlands Road Authority RDW approved Tesla’s Full Self Driving System for use on Dutch highways on a proviso basis in April. This prompted Belgium, Denmark and Estonia to follow suit in anticipation of a bloc wide vote on the plan that could happen as soon as next month. FSD is an assistance system for drivers that allows them to...

In a memo, Antofagasta Plc, a miner in Chile, warned that gangs are raiding copper trains across the remote Atacama Desert, becoming more bold and tactically sophisticated. They have breached anti-theft measures which had been effective for years. In a meeting this year, the copper miner and railroad operator raised alarms. Chilean prosecutors claim that some 'thieves' jump from trucks to rail cars, crossing isolated desert stretches. They then throw 80-kilogram copper slabs to waiting gangs and escape into the desert. Other people use hook lines in order to remove entire stacks from slow-moving trains. Copper stolen from illegal scrap...

Germany is facing a'second sabotage attack on its electricity grid. Local police said on Wednesday that they are investigating a 'attack on a substation near the city of Bergheim in western Germany. The police are investigating an act that was premeditated on the technical infrastructure on Tuesday at 4:00 pm (1800 GMT), but they added that the power supply in the region has not been affected. The spokesperson refused to specify the damage. On Tuesday, conductive devices damaged power lines in Brandenburg's eastern state. Amprion, the electricity grid operator in Germany, said that it was most likely an external interference...

Here are some of the main factors that could affect Swiss stocks on Friday: ?STATEMENTS OF COMPANY FLUGHAFEN?ZUERICH AGR Reports the first half-year EBITDA of CHF 374.2 millions. ADVAL TECH Holding AG The company reported a strong order intake. Edisun Power Europe Revenue for H1: CHF 5.57 million. JUNGFRAUBAHN HOLDING A G The company posted a profit for the first half of 'the year of CHF 28,9 million. ECONOMY Swiss August?KOF indicators due at 0700 GMT. Seen on 103.3. (Reporting by Zurich newsroom and Gdansk newsroom) |1|For Top News ?in a multimedia Web format on Eikon visit: ?https://bit.ly/2NDFd6g FOR RELATED...

Friedrich Merz, the German Chancellor, said that the German government will soon reveal who is responsible for an attempted drone attack on Leipzig/Halle Airport earlier this month. Merz, speaking at a summit of the coalition, said that his government "works closely with security authorities to this end, and will soon set out this issue?and make a comment about it." Local?media cite security sources that suspect Russian intelligence of involvement in the attempted attack. Berlin, however, has not made direct accusations. A drone with explosives was discovered on August 4 near an Antonov cargo plane used for military supplies. Investigators suspect...

German investigators have discovered a third drone and suspected explosives linked to the attempted attack on the Leipzig/Halle Airport this month, according to the NDR and WDR radio stations and the Sueddeutsche Zeitung. Media reports stated that the drone was discovered on August 14, 10 day after the incident. It was located?towards the west of airport where investigators also?found about 50 grams (1.8oz) of what they suspected as the military explosive hexogen. The office of the?prosecutor general?didn't immediately respond to an inquiry for comment. The reports cite security sources who suspect Russian intelligence involvement. This accusation has been denied by...

Dutch police reported that a?coach? carrying high-school students from Germany crashed early Monday morning in the Netherlands, causing eight injuries. The injured were taken to hospital. In a post posted on X, the police department in Gelderland Province?stated that "some of the victims taken to hospital are seriously injured." The accident also caused minor injuries to other?people. A police spokesperson said that the coach, which was carrying more than 50 passengers, "crashed" near Wezep (about 100 km east of Amsterdam) at around 4 a.m. A collision with a delivery van, whose driver was among the injured victims, caused the accident...

EDF data shows that a French labor strike in the 'electricity sector' took 6.5 Gigawatts of power offline overnight on Monday as unions protested a recommendation to curb employee benefits like access to cheaper electricity. The main source of electricity cut was seven French nuclear reactors. Several hundred megawatts from?gas-fired or hydroelectric power were also taken offline. France produces about 70% of its electricity with its 57 reactor fleet. It is also a major?exporter at a time where power prices are high, as countries like Germany that rely on gas have to pay a higher price to generate electricity. Data...

As investors prepared for the Federal Reserve to raise interest rates, the U.S. Dollar rose on Monday. The dollar is supported by the warnings of leaders of the largest AI companies regarding the dangers of AI. The U.S. Dollar Index, which tracks currency against six major counterparts, rose last by almost 0.6%, after previously touching 99.648, it's highest since September 2. The euro dropped to its lowest level in a month at $1.153, and last fell by 0.5%. Meanwhile, the British pound dropped 0.5% to reach $1.3474. Brent crude rose 3% to $108 per barrel, causing investors to panic and...

British government bond yields increased further on Monday. They 'hit new multi-year peaks across the ranges of maturities. According to LSEG, the 30-year gilt yield reached?its?"highest level since march 1998 at 5.951% and stood last 3 basis points higher on the day. Both the 10-year and 5-year yields rose by about?6 points in one day. The 10-year yield reached its highest level since July 2007, while the 5-year rate was at its highest since August 2008. Investors have increased their bets on the BoE tightening policy in the coming year due to the rising inflationary threat posed by the oil...

The U.S. Dollar rose to its highest level in two weeks on Monday, as the conflict in the Middle East drove up oil prices and pushed investors into the "safe-haven" currency. This weighed on the yen's recent gains. The dollar was boosted by the warnings from CEOs of frontier companies about AI's potential dangers. Meanwhile, rising bets placed on the Federal Reserve raising rates on Wednesday also helped the U.S. Dollar. The U.S. Dollar Index, which tracks currency against six major counterparts, rose last by almost 0.4%, after previously touching 99.6, the highest level since September 2. The euro dropped...

Malaysian palm oil futures rose on Monday due to higher crude oil prices. Also, rival soy oil prices in the Chicago market also helped. At closing, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange was up 39 Ringgit or 0.81% at 4,853 Ringgit ($1,191.21) per metric ton. A Kuala Lumpur trader stated that "Today's FCPO is holding steady on the back of a strong?crude?oil with the anticipation of better demand?for bio-diesel use in the future." Crude oil prices rose more than 3% on the Monday after a new attack on Saudi Arabian energy infrastructure and an attack on...

U.S. Dollar rose to two-week-high on Monday, as conflict in the Middle East drove up oil prices and sent investors into the safe-haven currencies. This weighed particularly 'on the recently buoyant yen. The dollar was boosted by the warnings of CEOs of frontier companies about AI's potential dangers. Meanwhile, rising bets placed on the Federal Reserve raising rates on Wednesday also helped the U.S. The U.S. Dollar Index, which tracks currency against six major counterparts, rose last week by almost 0.5%, to 99.59. This is its highest level since September 2. The euro dropped to its lowest level in a...

British government bond yields climbed again in the early trading on 'Monday. They reached new multi-year peaks across a range of maturities as oil prices rose in response to an accelerating deterioration in supply in the Middle East. According to LSEG, the 30-year gilt 'yield' reached its highest level since march 1998 at 5.951%. It last stood 2 basis points higher on the day. The 5-year yield reached its highest level since July 2008, and rose 6 basis points in one day. Investors have 'doubled down' on their bets that rising oil prices would force the BoE to tighten policy...

Uniper, Germany, announced on Monday that it had agreed to sell a 20% stake in the 'gas pipeline Opal', one of Europe’s largest transmission corridors. This brings it closer to completing the asset sales demanded by Brussels, in exchange for approval of the utility's'state bailout' 2022. The sale of the stake to Hy24, a joint venture of private equity fund Ardian with asset manager FiveT Hydrogen, is subject to regulatory approval and the non-execution by Gascade of Opal's coowner right of preemption. No financial details have been disclosed. Uniper has only two assets to sell by the end of 2026....

Investors pondered the possibility of rate hikes by the Federal Reserve and?Bank of Japan. Meanwhile, a rise in oil prices?amped down risk sentiment. As the fighting in the Middle East intensifies, global policymakers are faced with unpredictable pricing pressures. Oil prices have risen well above $100 a barrel. Rates have also been impacted by steep sales of long-end bonds. The European Central Bank increased rates last week, and warned against further increases. This was ahead of the Fed's policy announcement on Wednesday, and a widely anticipated rate hike by the BOJ this Friday. The Bank of England will likely remain...

Malaysian palm futures jumped on Monday, supported by higher crude prices and rival soy prices in the Chicago market. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange was up 62 Ringgit or 1.29% at 4,876 Ringgit ($1,198.03). A Kuala Lumpur-based trader stated that "Today's FCPO is holding firm due to the strong crude oil and the?anticipation for better demand in the future for bio-diesel use." Oil prices rose by more than 3% Monday after Houthi attacks on Saudi Arabia and Iranian attacks against ships in the Gulf compounded concerns about supply 'following the closing of a...

Monday's oil prices increased by more than 3% after the Houthi attacks on Saudi Arabia, and Iranian attacks against ships in the Gulf, compounded the supply concerns caused by the closure of an important Saudi oil pipeline. Brent crude futures increased $3.21 or 3.1% to $107.82 a barrel at 0340 GMT. WTI futures rose $3.17 or 3.2% to $103.22 a barrel. "This is a result of a step up in attacks against Saudi Arabian energy infrastructure. This includes targeting the vital east-west pipe," said ING commodity analysts, but noted that it was not clear how serious any potential 'damage would...

The dollar strengthened on Monday. The yen wobbled near a seven-month peak as investors considered possible rate hikes by the Federal Reserve and Bank of Japan this week. Meanwhile, rising oil prices due the intensifying conflict in the Gulf drained sentiment. The six-month long U.S./Israeli war against Iran has caused erratic price pressures that have pushed oil well above $100 a barrel. This has also shifted the rate path due to bouts of selling off in long-end bond. The European Central Bank increased rates last week, and warned that there would be more hikes. This set the stage for Wednesday's...