Latest News
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Air Canada raises core profit projection on robust worldwide demand
Air Canada raised its yearly core earnings projection on Friday, as the country's largest provider take advantage of strong need for worldwide travel. Major North American providers with international operations are cashing in on a flourishing need for abroad travel and a. revival in company bookings. Air Canada is increasing its everyday flights to China, while. likewise adding capability to other Asia Pacific routes. The provider now anticipates its 2024 adjusted earnings before. interest, taxes, devaluation and amortization of about C$ 3.5. billion ($ 2.51 billion), compared with its previous projection of. C$ 3.1 billion to C$ 3.4 billion. Its revenue increased to C$ 2.04 billion, or C$ 5.38 per share, from. C$ 1.25 billion, or C$ 3.08 per share, a year earlier. Air Canada's net income for the quarter consisted of a. favourable tax property recognition of C$ 1.15 billion.
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Tunisia receives offers for 75,000 T of durum wheat, traders report
Initial assessments by European traders estimated that the lowest price offered at Friday's international tender for 75,000 metric tonnes of durum wheat from Tunisia was $353.07 per ton, including freight and cost. They said that no purchase had yet taken place and offers were still being considered. The decision will be made later today. Trading house Raya is believed to be the one who made the lowest offer. Three consignments totaling 25,000 tons are required, and will be shipped between Nov. 20 to Dec. 25, depending on the origin provided. Tunisia did not make a purchase on a previous tender on Tuesday for 75,000 tonnes when the lowest bid was $351.07 per ton, c&f. This offer had also been submitted by trading firm Raya. On Friday they issued a second tender and price submissions. The reports reflect the assessments of traders, and it is still possible to estimate prices and volume later. Michael Hogan is reporting.
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Freight rates stall for Asia-bound Russian Urals oil
Freight rates for tankers bring Russia's flagship Urals crude from its Baltic ports to India have actually stalled on expectations of declines in oil exports from Moscow's western ports in November, trading and shipping sources said. Weaker rates for global standards could increase pressure on Urals freight rates, as FOB costs for the grade listed below the cost cap of $60 per barrel could draw in more Western shipowners to the market, the three sources included. Urals costs in Russian ports have actually remained listed below the $60 per barrel practically all the time since mid-October, LSEG data shows. > Under the terms of the cap, purchasers can only use Western services such as shipping and insurance when Russian crude trades listed below $60 per barrel. Freight rates are low and they are not increasing. The cost of a trip (for a 100,000-tonne Urals cargo from Baltic) to India is still around $5.1-$ 5.2 million, one trader stated on condition of privacy. Freight rates from the Baltic ports of Primorsk or Ust-Luga to ports in western India have risen to $5.5 million this month from multi-month lows around $4.3 million earlier this year. The expense of a one-way trip from Russia's Baltic ports to India, nevertheless, is still well below the $7.7 million struck in early 2024. Russia's petroleum exports from its three main western ports will fall by 13% in November from the previous month to 1.95 million barrels daily (bpd) from some 2.25 million in October, following completion of the refinery upkeep season, Reuters sources said recently. The U.S., other Group of Seven
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Algeria wheat tender purchase about 600,000 T, traders say
Algeria's state grains firm OAIC is believed to have actually acquired about 600,000 metric tons of milling wheat in a global tender that closed on Thursday, European traders stated on Friday. This was at the higher end of trader quotes that had varied from 480,000 to 600,000 loads. There were still specific trade quotes on Friday putting the purchase below 600,000 tons, but most of traders put the volume at about 600,000 loads. Prices reported on Friday were again around $263 a ton expense and freight (c&& f) consisted of, they stated. This was the exact same as reported on Thursday night. Traders presumed that much of the wheat would be sourced from the Black Sea region, though the grain can be sourced from optional origins. Expected origins consisted of Romania and Bulgaria, Ukraine, some Russian and potentially brand-new crop Argentine wheat. There was continued market talk that diplomatic stress in between Algeria and France had an impact on the tender, with traders not expecting French wheat to be provided. Traders stated Algeria left out French business from its previous wheat tender on Oct. 8 and needed that participating firms did not offer French-origin wheat in obvious fallout from restored diplomatic tensions in between Algiers and Paris. Traders said on Wednesday that French business had been welcomed to take part in Thursday's tender but could only provide non-French wheat. Reports show assessments from traders and even more quotes of costs and volumes are possible later. The wheat is sought for shipment this year in 2 periods from the primary supply areas including Europe: Dec. 1-15 and Dec. 16-31. If sourced from South America or Australia, shipment is a month earlier.
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Algerian wheat purchase in tender seen at around 600,000 T, traders state
Algeria's state grains company OAIC is believed to have acquired around 600,000 metric lots of milling wheat in a worldwide tender which closed on Thursday, European traders stated on Friday. This was at the higher end of trader quotes of the purchase on Thursday night which had actually varied from 480,000 to 600,000 tons. There were still individual trade quotes on Friday putting the purchase below 600,000 tons, however the majority of traders put the volume at around 600,000 loads. Prices reported on Friday were again around $263 a ton expense and freight (c&& f) included, they said. This was the exact same as reported on Thursday evening. Traders believed much of the wheat would be sourced from the Black Sea area, although technically the grain can be sourced from optional origins. Anticipated origins consisted of Romania and Bulgaria, Ukraine, some Russian and possibly new crop Argentine wheat.
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Firecracker ban defiance makes New Delhi the world's most polluted city
New Delhi topped charts on Friday as the world's most polluted city after revellers defying a ban on firecrackers to commemorate Diwali, the Hindu celebration of lights, helped drive air quality to hazardous levels. Thick smog wreathed the Indian capital, shrouding the presidential palace in the main district and the surrounding gardens popular with joggers and cyclists, after Thursday's. events. The air quality index stood at 348, stated Swiss firm IQ Air,. taking pollution into the hazardous category, pressing Delhi to. the top of a real-time list as the world's most contaminated city. Local government officials have actually prohibited usage of firecrackers. throughout Diwali and the winter over the last couple of years, in line. with Supreme Court directives, but have actually had trouble imposing. the procedure in spite of the danger of jail. Some Hindu groups say the ban disrupts observance of. the festival, a position the Delhi federal government has formerly. countered by saying the restriction aims to conserve lives. Friday's smog likewise coincided with waste burning on farms in. northern India that aggravates air quality at the start of. winter season each year as cold, heavy air traps toxins from a. range of sources.
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French and Benelux stocks-Factors to enjoy
Below are companyrelated news and stories from France and Benelux which might have an impact on the area's markets or private stocks. GAMBLING ESTABLISHMENT: French merchant Gambling establishment on Thursday reported 9-month group changed EBITDA at 402 million euros. It said it will provide its 2028 tactical plan on November 14th and that the number of task cuts expected should be at upper end of range at first announced. EIFFAGE, GETLINK: French building and renewables company Eiffage on Thursday said it now held 20.55% of Getlink's share capital SES, EUTELSAT COMMUNICATIONS: Spacerise, consortium made of satellites business SES, Eutelsat and Hispasat, was picked on Thursday by the European Commission to construct and operate Iris ² multi-orbit satellite constellation. UNIVERSAL MUSIC GROUP: Music label Universal Music Group on Thursday published third-quarter EBITDA at 556 million euros. It likewise said it was starting searching for a brand-new Chief Financial Officer as Boyd Muir was promoted to Chief Operating Officer Pan-European market data: European Equities speed guide ... ... ... ... FTSE Eurotop 300 index ... ... ... ... ... ... DJ STOXX index ... ... ... ... ... ... ... ... Top 10 STOXX sectors ... ... ... ...... Leading 10 EUROSTOXX sectors ... ......... Leading 10 Eurotop 300 sectors ... ... ...... Leading 25 European pct gainers ... ... ... ... ... Top 25 European pct losers ... ... ... ... ... Main stock exchange: Dow Jones ... ... ... Wall Street report ... Nikkei 225... ... ... Tokyo report ... ... FTSE 100 ... ... ... London report ...... Xetra DAX ... ... ... Frankfurt products ... ... CAC-40 ... ...... Paris products ...... World Indices ... ... ... ... ... ...... Reuters survey of world bourse outlook ... ... European Asset Allocation ... ... ... ... ... Reuters News at a look: Top News ... ... ... Equities ... ... ... Main oil report ...... Main currency report ...
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Sinopec says it has protected 10% more gas for winter than a year earlier
China's Sinopec Corp has secured gas products for the winter heating season at levels 9.7% greater than a year earlier by stepping up domestic production and spot freight imports, it said on Friday. The state oil and gas significant is raising output to record levels at essential domestic fields such as Puguang and Yuanba, both in the southwestern Sichuan basin, by accelerating drilling new wells in addition to detaining declines at ageing ones, the business stated in a declaration. Yuanba field alone, for example, currently pumps 13% above year-ago rates, Sinopec said, without providing a straight-out production figure. On imports, the company stated it proactively secured spot imports of melted gas (LNG) - super-chilled gas shipped in specialized tankers - and enhanced delivery schedules of LNG deliveries under long-lasting agreements. Sinopec also aims to raise LNG stock levels at key receiving and re-gasification terminals such as Qingdao and Tianjin to above 80% of their tank area ahead of the winter heating season, while raising storage at underground caverns at record rates, the firm stated. North China's winter heating season generally stretches in between mid-November through mid-March. China's gas need has enjoyed healthy development up until now this year thanks to robust domestic production and greater LNG imports helped by lower getting expenses. Evident gas demand rose 9.9% on the year to 318.4 billion cubic meters, the National Development and Reform Commission has stated.
Taiwan shuts down for arrival of Super Tropical storm Kong-rey
Taiwan shut down ahead of the arrival of Super Tropical cyclone Kongrey on Thursday with all cities and counties declaring a day off, financial markets closed and domestic flights cancelled for what is expected to be the biggest storm by size in 30 years.
The storm is anticipated to make landfall on the mountainous and sparsely populated east coast around midday (0400 GMT),. according to Taiwan's Central Weather Administration, with. strong winds and downpour impacting practically all the. island.
As much as 1.2 metres (3.9 feet) of rainfall is expected in. eastern Taiwan with devastating winds along seaside areas,. according to the administration.
The defence ministry has actually put 36,000 troops on standby to. assist with rescue efforts while 4,500 people have been left. from high threat locations ahead of time, the government stated.
Taiwan Semiconductor Production Co, the world's. largest contract chipmaker and major provider to companies like. Apple and Nvidia, said that it has activated. regular tropical cyclone alert preparation treatments at all its. factories and building sites.
We do not expect considerable effect to our operations, it. said in an emailed statement.
The federal government has warned individuals to keep away from the. mountains and the coast.
Kong-rey is anticipated to compromise as it crosses the main. part of Taiwan then move into the Taiwan Strait and graze China. on Friday early morning.
Subtropical Taiwan is regularly hit by tropical cyclones. The last. one, Typhoon Krathon, eliminated four people earlier this month as. it travelled through the south of the island.
(source: Reuters)