Investors’ risk appetite was high on Thursday (Dec. 23) while the transaction volume was low in the world stock markets as trading desks wind down for the Christmas break. European stocks finished Thursday’s session with strong gains. The pan-European Stoxx 600 index closed up 1.0%, with travel and leisure climbing 1.7% to lead the gains. The German DAX Index jumped by 1%, the French
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Commodities outperformed other assets in 2021 though gold loses its lustre, according to analysts. The S&P Goldman Sachs (NYSE:GS) Commodity Index- a composite index of commodity sector returns- has surged 35% this year, trumping the U.S. equity index S&P 500 for the first time in a decade. The S&P 500 has gained 23%, the dollar index (DXY) has climbed 7% while U.S.
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Coal-fired power generation is set to reach an all-time high in 2021, according to a report from the International Energy Agency (IEA). With electricity demand outpacing low-carbon supply, and with steeply rising natural gas prices, global coal power generation is on track to increase by 9% this year to 10 350 terawatt-hours (Twh). However, coal’s share of the global power mix in 2021
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Precious metals traded lower on Tuesday (Dec. 14) after a jump in U.S. producer prices fueled expectations for sooner-than-expected interest rate hikes ahead of the Federal Reserve’s two-day meeting. The US central bank is expected to move the deadline for ending the tapering process to an earlier date, with the first interest hike coming by mid-2022, according to a CNBC survey. Gold,
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The copper market is expected to be well supplied in 2022 after a deficit in 2021, Platts reported on Tuesday (Dec. 7). The global refined copper market saw a deficit of 479,000 mt in 2020, according to the International Copper Study Group (ICSG) while the Lisbon-based group expects a small deficit of 42,000 mt in 2021. Next year’s supply forecast will exceed
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Uruguay returns to the international bond market on Thursday (Dec. 2) with the sale of yen-denominated notes in Asia in a five-part deal with rates based on Japan’s Tonar, according to Cbonds. The South American sovereign issuer has set the price guidance between 45bp-60bp over the Tokyo Overnight Average Rate (Tonar) mid-swaps for the three year notes, 65bp-80bp for the five year notes,
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US natural gas futures were off sharply on Tuesday (Nov. 30), extended losses below $4.7 per million British thermal units (MMBtu), a level not seen in nearly three-months, as analysts pointed to weaker demand prospects and warming forecasts. The fortnight ahead is expected to see warmer-than-usual weather and data provider Refinitiv projected 321 heating degree days (HDD), below the 30-year normal of
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