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☆ India has emerged as one of the best global markets for the long haul. Here are the drivers—and how to play the rally
▼ + stars: | 2024-10-02 | by ( Pia Singh | In | ) www.cnbc.com time to read: +7 min

India's recent stock market surge has investors viewing the country as an emerging market poised for long-term outperformance. The India NSE Nifty 50 Index , the country's domestic stock market benchmark, has soared 18.7% this year, hitting record levels. "The data show that, historically, the Indian market has offered robust returns with reduced volatility." Going back to 2015, INDA has seen bigger annual gains and smaller declines than the broader emerging market fund. How to play the Indian market Financials are among investors' favorite spots in India's booming stock market.

Persons: It's, Malcolm Dorson, Dorson, GlobalX, Russell, —, EEM, INDA, Amr Abdel Khalek, Khalek, Jerome Powell, Venugopal Garre, Krishna Mohanraj, You've, Mohanraj Organizations: India NSE, Global, CNBC, U.S, Federal, Fed, Nasdaq, China, MRB Partners, Traders, Barclays, Diamond Hill Capital Management, HDFC Bank, ICICI Bank, Axis Bank, ICICI, HDFC, Whitehaven Coal, Prestige Estates Locations: India, China, Dorson, U.S, Whitehaven

Thermal coal insurance rates rose more than 20% last year, it said, above the 7.3% rise in the benchmark Marsh Global Insurance Market Index. Insurance companies can be active in both primary insurance and reinsurance and have differing commitments on ESG for different parts of their business. "Establishing a mutual fund for the coal industry is a matter for the coal industry," a spokesperson for the Australian Department of Treasury said. "I'm talking about going beyond your normal UK-based markets and looking into Asia for funders and insurance cover," she added. Coal prices hit record highs in September last year as European countries scrambled to replace Russian gas, sending coal miners' profits soaring.

Persons: Philip Mostert, Seriti, Doug Gain, Gain, Ben Davis, Willis Towers Watson, Thungela, China's, Russia's, Switzerland's Chubb, Chubb, Russia's SOGAZ, Peter Bosshard, Nombasa Tsengwa, Tsengwa, Exxaro, Clara Denina, Sarah McFarlane, Nelson Banya, Elaine Hardcastle, Daniel Flynn Organizations: REUTERS, Seriti, Thungela Resources, International Energy Agency, Reuters, Marsh Global Insurance, Whitehaven Coal, Whitehaven, Allianz, Swiss, Germany's Allianz, Insuramore, Australian Department of Treasury, South, Thomson Locations: American, Mpumalanga Province, South Africa, South, Ukraine, Whitehaven, Munich, Australia, Asia, Europe

☆ Windfall taxes get a breezy airing Down Under
▼ + stars: | 2023-06-14 | by ( Antony Currie | ) www.reuters.com time to read: +3 min

MELBOURNE, June 14 (Reuters Breakingviews) - Queensland has just done global proponents of windfall taxes a favour. More than a third of the total came courtesy of three new tiers Treasurer Cameron Dick added to the levy last June after coal prices quickly quadrupled. For starters, the changes only come into effect when the price of coal is really high. Rival Whitehaven Coal’s (WHC.AX) top line grew 164% and net profit more than 400% over a similar timeframe when the coal price was close to $400 a tonne. Dick earmarked the extra fossil-fuel revenue to pay for new hospitals and a slew of renewable energy and water projects.

Persons: Australia’s, Cameron Dick, Dick, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Revenue, Whitehaven, Queensland, Thomson Locations: Queensland, Hope, New South Wales, South Wales

☆ Australia's biggest pension funds cut China exposure, buy fossil fuels
▼ + stars: | 2023-03-30 | by ( Lewis Jackson | ) www.reuters.com time to read: +3 min

SYDNEY, March 30 (Reuters) - Two of Australia's largest pension funds pulled money out of Chinese stocks and boosted positions in the country's fossil fuel sector in the final six months of 2022, according to filings published on Thursday. Both funds collectively increased their shareholdings in Woodside Energy Group (WDS.AX), Australia's largest independent natural gas producer, by roughly 14 million shares. The disclosures come just days after activist investors accused the big Australian pension funds of failing to push fossil fuel producers like Woodside hard enough to decarbonise. The figures reveal pension funds pulling back from China during the back half of 2022, a time when investors across the developed world were reconsidering exposure to a country still subject to strict COVID lockdowns. Aware Super said in a statement it had a "relatively small exposure" to China mostly via external managers.

MELBOURNE, Feb 16 (Reuters) - Australia's Whitehaven Coal Ltd (WHC.AX) posted a more than five-fold jump in first-half profit on Thursday, aided by soaring coal prices, but paid a lower than expected dividend, sending its shares down. But Whitehaven announced an interim dividend of only 32 Australian cents per share, about 30% lower than Citi estimates and about 16 cents below Goldman Sachs' forecast. Whitehaven shares slid as much as 12.3% after news of the coal reservation scheme broke, before paring loses to A$7.88, down 3.8%. "We do think the structural underpinnings of the market are very positive, but in the short term, coal prices have come off quite a bit," Flynn added. Subsequently, the company kept its run-of-mine coal production guidance of between 19.0 million and 20.4 million tonnes for the 2023 fiscal year unchanged.

☆ Coal prices are seeing some 'softness' right now, says mining company
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoal prices are seeing some 'softness' right now, says mining companyPaul Flynn of Whitehaven Coal, however, says coal prices could improve during the course of the year.

☆ UK government greenlights first new coal mine in three decades
▼ + stars: | 2022-12-07 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +5 min

CNN —The UK has greenlit a controversial plan to open the country’s first new coal mine in three decades, a little more than a year after the nation tried to convince the world to ditch coal at the COP26 climate talks in Glasgow. Committee chairman Lord Deben said in a statement: “Phasing out coal use is the clearest requirement of the global effort towards Net Zero. We condemn, therefore, the Secretary of State’s decision to consent to a new deep coal mine in Cumbria, contrary to our previous advice. This decision grows global emissions and undermines UK efforts to achieve Net Zero.”The mine’s approval was also met with fierce criticism from scientists and environmentalists. Its opponents argue these jobs may not be secure, given the huge momentum in Europe to phase out coal.

☆ Water risk powers fear-then-greed coal trade
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Oct 19 (Reuters Breakingviews) - Shareholders have found a distressing silver lining to the floods that have been pounding eastern Australia. Investors immediately sent stock in both the company and rival New Hope (NHC.AX) sinking 6% or more. Such indifference to water risk in the energy sector is common, with scarcity causing problems with hydropower, and few paying attention to green hydrogen’s H2O needs. While good news for miners, it’s yet more bad news for a world in the middle of an energy crisis. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Whitehaven Coal output slumps 23% as floods sweep New South Wales
▼ + stars: | 2022-10-18 | by ( Upasana Singh | ) www.reuters.com time to read: +2 min

Severe wet weather including floods in Australia's most populous state, New South Wales, disrupted mining operations as the country suffered for a third straight year from the La Nina induced adverse weather. Register now for FREE unlimited access to Reuters.com RegisterManaged run-of-mine coal production was 4 Mt for the quarter ended Sept. 30, compared with 5.2 Mt a year ago and brokerage Barrenjoey's estimate of 5 Mt. Whitehaven said its annual output at Maules Creek was on track to be at the lower end of its 11.7 million tonnes to 12.6 million tonnes (Mt) forecast. Its shares fell as much as 7.1% to A$9.67, underperforming the broader market (.AXJO), which rose 0.4%. "Looking locally, a number of weather events impacted coal producers during the September quarter, which together with the forecasted La Niña weather patterns, has further bolstered support for strong coal prices out of East Coast Australia," Whitehaven said.

☆ Australia's Whitehaven Coal posts 23% drop in output on flood woes
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

Oct 19 (Reuters) - Australia's Whitehaven Coal Ltd (WHC.AX) on Wednesday reported a 23% plunge in first-quarter production as severe floods in New South Wales hit operations, including a week-long lock-out of its key Maules Creek mine. The company was also bullish on coal prices after it achieved a record average price of A$581 per tonne in the September quarter, up from A$189 per tonne a year earlier. "Looking locally, a number of weather events impacted coal producers during the September quarter, which together with the forecasted La Niña weather patterns, has further bolstered support for strong coal prices out of East Coast Australia," Whitehaven said. "We continue to view thermal coal prices as well supported throughout FY23 and beyond." The company's managed run-of-mine coal production was 4 Mt for the quarter ended Sept. 30, compared with 5.2 Mt a year ago and brokerage Barrenjoey's estimate of 5 Mt.

Oct 19 (Reuters) - Australian miner New Hope (NHC.AX) said on Wednesday it was not part of a consortium with private-equity firms Oaktree Capital Management and Brookfield (BAMa.TO), which according to a report was bidding for Aurizon's (AZJ.AX) East Coast Rail business. read moreAurizon declined to comment on the media report on Wednesday, but pointed to its annual general meeting held last week at which it said the divestment process was "well advanced" and that it would announce a decision next month. Register now for FREE unlimited access to Reuters.com RegisterBrookfield declined to comment on the media report. Shares in coal miner New Hope fell 7% after rival Whitehaven Coal's (WHC.AX) weak quarterly production update. ($1 = 1.5820 Australian dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Shashwat Awasthi and Upasana Singh; Editing by Vinay Dwivedi and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

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