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☆ Miners, financials drag TSX index to three-week low
▼ + stars: | 2022-12-12 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

[1/2] The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. ET (1524 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 25.74 points, or 0.13%, at 19,921.33. The materials sector (.GSPTTMT), which includes miners of precious and base metals, shed 0.7% as gold prices trickled lower. The U.S. central bank is expected to deliver a half-percentage-point rate hike, along with The European Central Bank and the Bank of England, who are expected to raise their lending rates later in the week. Including Monday's trading, the TSX is down 6% year-to-date, outperforming the U.S. benchmark S&P 500 index (.SPX), which has lost more than 17% this year.

☆ Commodity-linked stocks push TSX to fresh two-week highs
▼ + stars: | 2022-12-08 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

[1/2] A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. ET (1540 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 66.9 points, or 0.33%, at 20,040.12. The materials sector (.GSPTTMT), which includes miners of precious and base metals, climbed 0.8% on higher metal prices. "Given the magnitude of the rate hikes, they want some time to evaluate how that's going to impact the economy." Among single stocks, Parkland Corp (PKI.TO) gained 5.9% after the food and fuel retailer posted its 2023 outlook.

☆ Miner Vale looks to close deal with partner for base metals in H1
▼ + stars: | 2022-12-07 | by ( Marcelo Teixeira | ) www.reuters.com time to read: +2 min

FILE PHOTO: Brazilian mining company Vale SA logo and trading symbol are displayed on a screen at the New York Stock Exchange (NYSE) in New York, U.S., December 6, 2017. REUTERS/Brendan McDermid//File PhotoNEW YORK (Reuters) - Brazilian mining company Vale is in advanced talks with possible partners for its new base metals investment vehicle and looks to have a deal concluded during the first half of 2023, Chief Executive Gustavo Pimenta said on Wednesday. Pimenta said the key quality Vale is looking when deciding for the partner is expertise. “We will change the way we manage base metals. Demand for metals like nickel and lithium is seen growing sharply in coming years due to expected production growth of electric vehicles (EV).

☆ TSX dips as lower oil prices pressure energy shares
▼ + stars: | 2022-11-16 | by ( Fergal Smith | Simon Jessop | ) www.reuters.com time to read: +1 min

SummarySummary Companies TSX ends down 36.82 points, or 0.2%, at 19,957.96Energy falls 2.3%; oil settles 1.5% lowerMaterials sector loses 1.3%Restaurant Brands gains 7%TORONTO, Nov 16 (Reuters) - Canada's main stock index fell on Wednesday as lower oil prices weighed on energy shares but gains for consumer-related stocks helped limit the index's decline. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 36.82 points, or 0.2%, at 19,957.96. The Toronto market's energy sector fell 2.3% as oil prices settled 1.5% lower at $85.59 a barrel concerns over rising COVID-19 cases in China. The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.3%, while technology ended 0.7% lower. Shares of Restaurant Brands International Inc (QSR.TO) ended 7% higher, helping drive the consumer discretionary sector to a 1.3% gain.

REUTERS/Maja Smiejkowska/File PhotoCommodity trade finance covers many types of loans, typically from banks, that facilitate global movement of goods from wheat to gasoline. Most trade finance loans are short-term, less than a year. Traders’ credit lines became strained last year when natural gas prices sky-rocketed in the fourth quarter. ‘DESIRE TO DIVERSIFY’Lending for commodity trade finance has become more diverse, with non-bank financial institutions (NBFI) stepping in. The underlying issue was the retreat of major banks from commodity financing after some 2020 defaults in the sector while Russian banks Sberbank and Gazprombank that were set to expand have now been shut out of Europe.

Commodity trade finance covers many types of loans, typically from banks, that facilitate global movement of goods from wheat to gasoline. Most trade finance loans are short-term, less than a year. The involvement of hedge funds in commodity trade finance has created a lifeline for smaller firms, deemed to be higher risk for banks due to strict capital requirements and clean energy goals. 'DESIRE TO DIVERSIFY'Lending for commodity trade finance has become more diverse, with non-bank financial institutions (NBFI) stepping in. The Swiss firm specialises in financing small to mid-sized commodity merchants and has achieved returns between 6% to 10% over the last 10 years.

☆ TSX rises to 2-month high as materials sector jumps
▼ + stars: | 2022-11-08 | by ( Fergal Smith | Juliette Portala | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 114.40 points, or 0.6%, at 19,660.31, its highest closing level since Sept. 14. The materials group, which includes precious and base metals miners and fertilizer companies, added 4.7%. Copper rose 1.7%, while gold was up 2.2% at about $1,712 per ounce as the U.S. dollar and bond yields fell. Its shares rose 12.4% after the company reported quarterly results. Reporting by Fergal Smith in Toronto Additional reporting by Shashwat Chauhan in Bengaluru Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ European shares rise ahead of Fed, Novo Nordisk boosts healthcare stocks
▼ + stars: | 2022-11-02 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 index (.STOXX) rose 0.3% by 0858 GMT, hovering near seven-week highs. Novo Nordisk (NOVOb.CO) jumped 5.4% as it raised its full-year earnings outlook on strong sales of diabetes treatment Ozempic and reported a better-than-expected profit. European healthcare stocks (.SXDP) led sectoral gains with a 1.2% rise, while banks (.SX7P) advanced 0.3% ahead of what is expected to be the Fed's fourth straight 75-basis-point increase to interest rates. "There are high hopes that he will signal that there could be some softening in the U.S. central bank's aggressive approach to taming inflation." Danish hearing aid maker Demant (DEMANT.CO) tumbled 13.6% to the bottom of the STOXX 600, after it cut its full-year revenue and profit guidance for the second time in the year.

The status of Russian metal has been a key talking-point at the many seminars and parties this week in London. Should the LME suspend deliveries of Russian aluminium, copper and nickel or should it maintain its policy of not preempting official sanctions? German copper producer Aurubis (NAFG.DE) has joined U.S. aluminium producer Alcoa (AA.N) in publicly calling for an LME ban on Russian metal. There is a lot of metal supply at stake here. An LME ban on deliveries of Russian metal would clearly have significant ramifications for both LME and physical market pricing.

☆ Bank of Canada downshift helps lift TSX to three-week high
▼ + stars: | 2022-10-26 | by ( Fergal Smith | ) www.reuters.com time to read: +1 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 182.75 points, or nearly 1%, at 19,279.76, its highest closing level since Oct. 4. The Toronto market's energy group rose 1.8% as U.S. crude oil futures settled 3% higher at $87.91 a barrel. The materials group, which includes precious and base metals miners and fertilizer companies, added 1.8%, while industrials ended 1.3% higher. Shares of Rogers Communications Inc jumped 5.8%, while Shaw Communications Inc (SJRb.TO) shares were up 7.2% as investors bet that Canada is likely to approve Rogers Communications' bid for Shaw. Reporting by Fergal Smith; Additional reporting by Shashwat Chauhan in Bengaluru; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

☆ Vale CEO says iron ore miner will spin-off copper, nickel unit
▼ + stars: | 2022-10-21 | by ( Macdonald Dzirutwe | ) www.reuters.com time to read: +1 min

LONDON, Oct 21 (Reuters) - The chief executive of Vale SA (VALE3.SA) said on Friday the Brazilian iron ore miner is reconsidering a near-term spin-off of its base metals business and an eventual public listing. The Brazilian miner had a longstanding plan to sell the unit that was still being considered as recently as 2021. But rather than selling all or part of it, the company is now looking to separate and ring-fence the copper and nickel unit from the iron ore business as the two have different growth prospects, Eduardo Bartolomeo said at the FT Mining Summit. There is "huge growth" in base metals, whereas iron ore is a mature business, he added. Vale, once the world's top producer of the steel ingredient, said in September that global demand for nickel should increase 44% by 2030 to 6.2 million tonnes.

☆ TSX ends lower as financials and industrials lose ground
▼ + stars: | 2022-10-20 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange sign is seen in Toronto, Ontario, Canada July 6, 2017. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 95.11 points, or 0.5%, at 18,579.29. Money markets expect the central bank to tighten by at least another 50 basis points at a policy announcement next week. The Toronto market's heavily weighted financials sector fell 1.2% while industrials ended 2.1% lower. Still, its shares ended 0.6% lower.

☆ If we do face a global recession, base metals will be hit the hardest, says Credit Suisse
▼ + stars: | 2022-10-18 | 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 EmailIf we do face a global recession, base metals will be hit the hardest, says Credit SuisseSaul Kavonic of Credit Suisse discusses the outlook for Rio Tinto and BHP.

☆ TSX posts lowest weekly close in 20 months as oil prices fall
▼ + stars: | 2022-10-14 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 287.28 points, or 1.5%, at 18,326.25. "The interest rate sensitive sectors of the market like housing is cooling down at a meaningful pace." Canadian home sales fell 3.9% in September from August, with actual monthly activity about 12% below the pre-pandemic 10-year average, data from the Canadian Real Estate Association showed. read moreThe Toronto market's energy group fell 3.4% as U.S. crude oil futures settled 3.9% lower at $85.61 a barrel. The materials group, which includes precious and base metals miners and fertilizer companies, lost 4% as gold and copper prices declined.

☆ New electrification metals ETF gives investors another way to play the energy transition
▼ + stars: | 2022-10-13 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

Investors have a new way to bet on the commodities that are critical to a green energy future: The KraneShares Electrification Metals Strategy ETF launched on Thursday. The new fund tracks the Bloomberg Electrification Metals index and buys futures contracts on metals like aluminum, copper, zinc and lithium. The KraneShares fund is not the only ETF on the market that gives investors exposure to these industries. For example, VanEck offers a Green Metals ETF (GMET) as well as a Rare Earth/Strategic Metals (REMX) fund, which hold individual stocks in these industries. There are also some funds available that can hold futures contracts for the underlying metals, such as the United States Copper Index Fund (CPER) or the Invesco DB Base Metals Fund (DBB) .

☆ TSX falls for fifth day as utilities slide
▼ + stars: | 2022-10-12 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 10.40 points, or 0.1%, at 18,206.28. That was well above the worst levels of the day but was the fifth straight day of losses and the lowest closing level since March 2021. read moreThe Toronto market's utilities sector fell 2.5%, extending recent declines, while energy was down 0.1% as oil prices fell for a third day. U.S. crude oil futures settled 2.3% lower at $87.27 a barrel. read moreHelping to cap losses for the index, the materials group, which includes precious and base metals miners and fertilizer companies, added 1.1% as gold prices rose and the consumer staples sector ended 1.5% higher.

☆ TSX hits 19-month low as global recession risk weighs
▼ + stars: | 2022-10-11 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

Investors were already on edge ahead of a key U.S. inflation report this week that could cement additional interest rate hikes by the Federal Reserve. read more"I think we are seeing the rate hikes really in full effect now," said Allan Small, senior investment adviser at the Allan Small Financial Group with iA Private Wealth. "The fear is that because the rate hikes have a lagging effect on the economy, we will not feel the full effect of these rate hikes until perhaps 3-6 months down the road." The International Monetary Fund on Tuesday cut its global growth forecast for 2023, warning that conditions could worsen significantly next year. Heavily-weighted financials lost 2.3% and technology was down nearly 3%.

☆ TSX falls by most in 3 months, C$ slides as oil rout weighs
▼ + stars: | 2022-09-23 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 521.70 points, or 2.8%, at 18,480.98, its biggest decline since June 16 and its lowest closing level in more than two months. Wall Street's main indexes also closed sharply lower but not as much as the Toronto market. read moreThat added to pressure on the Canadian dollar. "While yields can continue to move up you are seeing a coupon that will at least absorb some of that."

☆ Steel makers fear deepening crisis from energy crunch as output halted
▼ + stars: | 2022-09-23 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +5 min

Stainless metal coils are seen at the Belgian site of stainless steel maker Aperam, which has been forced to slow production due to spiralling energy prices, in Genk, Belgium September 22, 2022. Even with four wind turbines and over 50,000 solar panels at its site in eastern Belgium, stainless steel maker Aperam has been forced to halt production as surging energy prices bite. Hallemans says the potential payout producers such as Aperam would receive is unclear and could be months away, with energy prices sky-high just as Aperam seeks to bind customers to annual contracts. ThyssenKrupp Steel Europe has trimmed production there, with customers hesitant in the face of an emerging recession and energy prices that challenge its international competitiveness. Eurofer says the situation has worsened markedly since its August forecast of a modest 1.7% decline of European steel consumption this year, but a solid 5.6% rebound in 2023.

☆ Silver market hasn't been following in the footsteps of gold, says Standard Chartered
▼ + stars: | 2022-09-22 | 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 EmailSilver market hasn't been following in the footsteps of gold, says Standard CharteredSuki Cooper of the bank says it has been "behaving more like the base metals like copper."

☆ Goldman says copper demand is about to surge. Here are the stocks it expects to benefit
▼ + stars: | 2022-09-20 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Copper demand is set to surge, Goldman Sachs says — and supply is unlikely to keep up. The investment bank has named a number of metal stocks it says will shine in a copper deficit scenario. Along with the "green transition" driving a surge in demand for copper, Goldman noted that new supply from approved projects will peak in 2024. After this, there are no significant copper projects planned until 2027 or 2028, it added. "While supply growth appears muted from 2024, demand is likely to accelerate given the push towards a low-carbon economy and growing green copper demand," Goldman analysts wrote in a Sept. 13 report.

REUTERS/Alexandre MeneghiniLONDON, Sept 16 (Reuters) - The puzzle facing the zinc market is whether demand or supply will fall hardest this year. LME zinc fund net positioningLOW STOCKSThe outright price is falling despite low exchange inventory. Fastmarkets assessments of Antwerp and Italy premiumsSUPPLY HITEurope is at the epicentre of the global zinc supply hit as smelters struggle to cope with soaring power prices. SHIFTING BALANCEZinc's micro dynamics are shifting fast and at the moment it seems that the demand hit is outpacing the supply hit. It's the demand outlook that's weighing on the outright zinc price.

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