Western Europe

According to a Glencore spokesperson, a Dutch bailiff has launched a public sale of the 'Logistics and Warehousing' business formerly owned by Glencore. According to the notice, interested parties were required to submit a declaration of interest before October 1, said a spokesperson. The auction comes after a ruling by the Amsterdam 'District Court' on July 2, which rejected Glencore’s attempt to buy Access World via a private transfer?to its subsidiary Tironimus. Opponents argued that the proposed price undervalued business. The court said Glencore did not show that a public sale would be harmful, and Tironimus was allowed to bid....

China has established a huge airspace security area around Beijing that is roughly the same size as Italy, which will bar all flights except for commercial, approved emergency and business flights. This comes months after a small plane crashed into Beijing's tallest tower. An?aviation?notice from Beijing's airspace control authorities, available on the U.S. Federal Aviation Administration public NOTAM search engine reviewed by, showed that a permanent 600-kilometer-wide circle of "Special Restricted Areas" will take effect as of September 20. This notice stated that the entire airspace will be closed to all flights except commercial airlines, business flights approved by the...

Giorgia meloni, the Italian Prime Minister, announced on Wednesday that Italy will 'abolish road tax' for 14,5 million cars and motorbikes. This move is estimated to cost more than EUR2billion ($2.31billion) in state funds. The government is looking for ways to increase support in advance of the national elections next year. Meloni’s?conservative alliance is trailing in the polls the centre-left and is under pressure from National Future - a new far-right political party led by Roberto Vannacci that is steadily gaining supporters. Meloni stated in a press release released by her office that "today the government eliminates one of the...

Here are some company news stories and updates from France and Benelux that could impact the markets in these regions or specific stocks. KERING: The French luxury group Kering has appointed Sophie Maddaloni secretary general with immediate effect. She?joined?the executive committee. IMPLANET: Implanet, a French medical technology company, reported a first-half revenue figure of EUR7.1million ($8.20million), an operating loss EUR1.87million and a loss net of EUR2.14million. TFF GROUP Tonnellerie Francois Freres, a French barrel manufacturer, reported a first-quarter revenue below expectations of EUR56.9m. This was due to a massive destocking of customers and alterations in its production capacity. It expects...

The UK cannot meet its climate goals and expand Heathrow Airport in London unless the airlines take full responsibility for all their emissions, said Wednesday's climate advisors. Last year, the British Labour government backed the construction of a third runway in?Heathrow Airport, one the busiest airports in the world, claiming that the project would boost economic growth. The Climate Change Committee (CCC) published an advisory on Wednesday at the request of the government, concluding that there is no plausible path under current policies to allow Heathrow expansion while Britain meets its goal of "achieving net zero emissions by 2020". Nigel...

The Canadian Transport Minister said that he expected a'strong interest' from Canadian pension funds and possibly Australians as well, when the country opened its four biggest airports for private investment. In an interview, Transport Minister Steven MacKinnon said: "We expect a very strong Canadian participation in these concession agreements." The Canadian investors have proven over time that they are very adept at investing in other jurisdictions. Mark Carney, the Canadian Prime Minister, said earlier that his government is seeking private investment via long-term concessions for airports to be operated in Toronto, Montreal?Vancouver?and Calgary as part a campaign to stimulate the...

Three sources reported that the Russian Urals crude premiums have risen to $8 per barrel against Brent for delivery in Indian ports. This is the highest level since May as a result of a 'lower crude supply' from Gulf producers because of 'the Iran War. The oil prices rose on Tuesday, after an attack on Saudi Arabia's energy infrastructure knocked out the East-West Pipeline. This sparked fears that repairs to damaged energy infrastructure and transport routes may take longer. Sources claim that cargoes from Russia's Urals are trading at an $8 premium per barrel delivered to India, compared to the...

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 oil prices dropped for a third consecutive day on Friday, as easing concerns about Saudi supply disruptions overrode 'anxiety' regarding a possible escalation of the Middle East conflict in light of new fighting between Saudi Arabian forces and Yemeni Houthis. Brent crude futures dropped 79 cents or 0.75% to $104 per barrel by 0319 GMT. US West Texas intermediate futures also fell 70 cents or 0.69% to $101.20 per barrel. Both benchmarks fell about 1% Thursday. Brent prices are set to suffer their first weekly loss in three weeks, falling 0.5%. WTI, on the other hand, is expected to...

Oil prices dropped about 1% on Friday, continuing their losses from the previous session. However, they remained above $100, as optimism about alternative?ways to get barrels of oil from the Middle East?to?markets trumped concerns over Saudi Arabia's strikes against Yemen's Houthis. Brent crude futures dropped $1.01 or 1% to $103.77 per barrel at 0020 GMT. US West Texas Intermediate Futures also fell $1.03 or 1% to $100.88 per barrel. Both benchmarks closed Thursday with a loss of about 1%. The markets largely ignored concerns over new supply threats, even though Saudi Arabia and Yemen’s Houthis, backed by Iran, exchanged new...

Prices fell by 2% to a new low on Thursday, easing supply concerns. However, prices remain above $100 per barrel due to fears that the Middle East conflict may worsen. Brent crude futures fell $2.67 or 2.5% to $103.13 per barrel at 12:03 pm. After reaching their lowest level since October 10, ET (1603 GMT) has now reached its highest level. US West Texas Intermediate futures fell $1.61 or 1.6% to $100.82 per barrel, the lowest level since September 11. Both contracts dropped about $3 on Wednesday. Tim Waterer is the chief analyst at KCM Trade. He said that crude...

Ghana Gas, a state-owned company, plans to announce its final investment decision by the beginning of next year on a $500 million pipeline that will transport gas from the plant located in the west to the industries in the south. This project has been long discussed. Blay said, "On the sidelines the Gastech Conference" that the proposed 278-kilometre onshore West-East pipeline would allow the company to meet the growing industrial sector's demand and reduce its dependence on the West African Pipeline shared with neighbouring countries. She said that the company was trying to secure financing for the project. Ghana has...

Giorgia meloni, the Italian prime minister, announced on Wednesday that the government would abolish road tax for 14.5 million cars and motorbikes. The government is looking for ways to increase support in advance of the national elections next year. Meloni stated in a press release issued by her office that "today the government will eliminate one of 'the taxes most disliked by Italians. The benefit will apply to all motorbikes, and to more than 70% small-sized cars. However, citizens are only allowed to use it on one vehicle. The election next year is shaping up to be a close race...

The oil price?fell Wednesday after a 'two-day rally, following an unexpectedly high build up in the?U.S. Crude inventories remained high, and supply disruptions in Middle East persisted. Brent crude futures dropped 73 cents or 0.67% to $108.02 a bar at 0450 GMT. U.S. West Texas intermediate futures were down by $1.1, or 1.04% at $104.73 a bar. The Yanbu loading suspension raised supply concerns and Saudi Arabia reduced oil shipments to Europe. Both benchmarks closed more than $3 higher on Tuesday and were at their highest level since May 19. Market sources said on Tuesday that the American Petroleum Institute's...

Investors assessed the?risks of supply after Saudi Arabia suspended oil loadings in its Yanbu port after a?attack against its East-West pipeline to the Red Sea. Brent crude 'futures' fell 93 cents or 0.86% to $107.82 a bar at 0028 GMT. U.S. West Texas intermediate futures were also down 97 cents or 0.92% at $104.86 a bar. The Yanbu loading suspension has sparked supply concerns, and Saudi Arabia has cut oil shipments into Europe. Market sources reported on Tuesday that the American Petroleum Institute's data showed that U.S. crude, gasoline, and distillate inventories rose all over last week. API data cited...

Trade sources report that Saudi Arabia has cut off oil shipments from Europe to the Red Sea after drone attacks damaged its main export pipeline. This prompted top customers, such as Poland, to look for alternatives when cargo prices reached $120 per barrel. Saudi Arabia blamed the attacks on Iraqi militias, forcing the kingdom to shut down its East-West Desert Oil Pipeline on Friday. This has saved it from the worst of impact of the Strait of Hormuz closure over the past six months. On Tuesday, oil trading and shipping sources reported that Saudi Arabia informed European customers of the...

The price of Malaysian palm oils futures rose?for the second consecutive session on Tuesday. This was due to?a continued rise in crude oil prices. At close, the benchmark palm oil contract for November delivery at 'the Bursa Derivatives Exchange was up 33 ringgit or 0.68% at 4,883 Ringgit ($1,196.08). The Malaysian financial markets will close on Wednesday due to a public holiday. Trading will resume Thursday, September 17 Anilkumar bagani, the research head of Sunvin Group's vegetable oil brokerage in Mumbai, said that BMD CPO futures traded higher today due to gains in energy prices. He added that the expectation...

The Danish military reported that a Russian frigate shot two flares at a Danish helicopter on Monday in international waters near Denmark, but the aircraft was only narrowly missed. After incidents such as gas pipeline outages and airspace violations, and drone sightings, the Baltic Sea region has been on high alert. This is due to tensions rising between Moscow and the West following Russia's full-scale invasion in 2022 of Ukraine. In a late-night statement, the Danish Defence Command said that the Fennec helicopter was on a routine photo mission to take pictures of the Russian frigate. The defence command reported...

Malaysian palm futures increased?for the second consecutive session on Tuesday following a?continued rise in crude oil prices. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for November delivery was up 46 Ringgit or 0.95% at 4,896 Ringgit ($1,200.59). Anilkumar bagani, the research head of Sunvin Group's vegetable oil broker in Mumbai, said that BMD CPO futures traded higher today due to gains in energy prices. He said that he was able to provide additional support because of the expectation of tightness in Indonesia next year, due to its B50 mandate for biodiesel and a possible production?reduction caused...

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...