Market Overview - European stocks are expected to open higher, with London's FTSE 100 projected to rise by 0.5%, Germany's Dax by 0.3%, and France's CAC 40 by 0.6% [1] - U.S. futures increased overnight as key economic data is anticipated, including the personal consumption expenditures index and the fourth-quarter GDP report [3] Earnings Reports - Several European companies are set to report earnings on Friday, including Air Liquide, Danone, Sika, Anglo American, and Kingspan Group [2] Economic Data - Traders are awaiting important economic data, such as U.K. retail sales figures, German producer price figures, and PMI flashes for the U.K., France, Germany, and the euro zone [2]

Gold hovered around $5,000 an ounce as traders assessed the latest flareup in geopolitics and the Federal Reserve’s next move on interest rates. President Donald Trump said the US has to “make a meaningful deal” with Iran, adding that the next 10 days will tell whether there will be an accord. Iran is a “hot spot” right now even as officials from both sides engage in “good talks,” Trump said. He also said his son-in-law Jared Kushner will be an “envoy of peace.” Most Read from Bloomberg The US military ...

Key TakeawaysPresident Trump issued a 10-day ultimatum to Iran, warning that "really bad things will happen" if a "meaningful deal" is not reached to curb its nuclear program.The U.S. 30-Year TIPS auction saw robust demand, with a high yield of 2.473%, significantly "stopping through" the when-issued yield of 2.49%.Indirect bidders, including foreign central banks, took a massive 78.3% share of the TIPS auction, up from 70.4% in the previous sale.Trump called for the involvement of China and Russia in diplo ...

Economic Outlook - The Bank of England is urged to implement quick interest rate cuts to alleviate the cost-of-living crisis and boost consumer spending and business confidence [1][2] - Trade unions support interest rate cuts, citing easing inflation as beneficial for working families, with expectations of further softening due to government support for energy bills and other costs [2] - Firms are looking for inflation easing to be accompanied by measures to reduce business costs, such as business rates reform, to stimulate economic growth [3] Inflation and Interest Rates - The Consumer Price Index (CPI) has dropped to 3.0%, the lowest level in nearly a year, indicating potential for interest rate cuts by the Bank of England [25][28] - Analysts predict a 25 basis point cut in interest rates at the next Bank of England meeting, with further cuts anticipated if inflation continues to decline [19][21][20] - Despite the drop in headline inflation, services inflation remains sticky, suggesting caution from the Monetary Policy Committee [22] Market Performance - The FTSE 100 index has reached new record highs, driven by gains in sectors such as mining, defense, and banking [6][15][28] - BAE Systems has reported a 10% increase in sales to £30.7 billion and a record order book of £83.6 billion, reflecting strong demand in the defense sector [23][10] - Glencore's revenue for 2025 increased by 7% to $247.54 billion, with adjusted EBIT falling less than expected, indicating resilience in the mining sector [16][17] Company-Specific Developments - BAE Systems has increased its dividend by 10% and expects sales growth of 7-9% for the current year, supported by rising global defense spending [23][13] - Glencore's performance improved significantly in the second half of the year, aided by stronger metals prices and higher copper output [17] - BAE's free cash flow is projected to exceed £1.3 billion, contributing to a reduction in net debt by 22% [13][24]

Economic Data and Market Sentiment - Japanese exports rose for the fifth consecutive month in January, indicating a positive trend in trade [6][9] - Confidence among Japanese manufacturers improved in February for the first time in three months, as per the Reuters Tankan poll [6][9] - The International Monetary Fund urged Japan to continue raising interest rates and avoid further loosening of fiscal policy [7][9] Geopolitical Developments - Progress was reported in nuclear talks between Iran and the U.S., with an understanding on main "guiding principles" reached, although a deal is not imminent [5][8] - Peace negotiations between Ukraine and Russia are ongoing, with U.S.-mediated talks taking place in Geneva [6][8] U.S. Economic Indicators - The Federal Reserve's Open Market Committee is set to release minutes from its January meeting, which may provide insights into future monetary policy [8] - The U.S. Commerce Department will issue its first estimate for GDP for the fourth quarter on Friday, which is a key economic indicator [8] Currency Market Movements - The dollar index remained stable at 97.11 after a two-day advance, reflecting mixed market sentiment [2][8] - The yen strengthened by 0.1% to 153.12 per dollar, while the euro held steady at $1.1852 [2][5] - The Australian dollar and kiwi remained steady at $0.7083 and $0.6047 respectively, with New Zealand's central bank expected to hold rates [8][9] U.S.-Japan Investment Initiatives - The Trump administration announced three projects valued at $36 billion to be financed by Japan, part of a larger $550 billion investment agreement aimed at reducing U.S. tariffs [7][9]

Core Viewpoint - Gold prices have experienced volatility, slipping below $5,000 an ounce amid thin trading conditions, influenced by recent US inflation data and market sentiment [1][2]. Group 1: Price Movements - Gold fell as much as 1.4% on Tuesday, following a 1% loss in the previous session, with current trading at $4,967.82 an ounce [1][6]. - A speculative buying wave had previously pushed gold to a record high above $5,595 an ounce, but a two-day rout brought it back to near $4,400, from which it has regained roughly half of its losses [2]. Group 2: Market Forecasts - Major banks, including BNP Paribas, Deutsche Bank, and Goldman Sachs, predict that gold prices will resume an upward trend due to persistent factors such as geopolitical tensions and a shift away from currencies and sovereign bonds [3]. - Jefferies analysts have raised their 2026 price forecast for gold to $5,000 an ounce from $4,200, citing inflation and dollar debasement as key supportive macro factors [4]. Group 3: Market Sentiment and Risks - Analysts suggest that if gold remains below $5,000 for an extended period, it could discourage bullish traders due to recent volatility, increasing downside risks [5].

Key TakeawaysBHP Group (BHP) reported a sharp rise in first-half profit, driven primarily by surging global demand for copper and favorable commodity pricing.Donald Trump indicated a potential diplomatic breakthrough with Iran, stating that the nation "wants to make a deal" and confirming his indirect involvement in ongoing negotiations.A decision on Taiwan arms sales is expected "soon," a move that could significantly impact U.S.-China relations and defense sector volatility.The "Board of Peace" initiative ...

Core Viewpoint - Influential crypto traders maintain a cautious, bearish-to-neutral stance on Bitcoin, indicating that a sharp V-shaped recovery is unlikely [1] Market Correction Expectations - Analysts expect a prolonged, choppy correction rather than an immediate rebound, with broader macro risks potentially adding downside pressure [2] - A 15%–20% stock market correction could trigger another significant crypto sell-off, with a confirmed bottom not expected until later in the year [3] Key Price Levels - The $50,000–$60,000 region is identified as a key reclaim zone for Bitcoin, while a weekly close below $67,000 could lead Bitcoin back toward range lows [3][6] - A reclaim of $71,500 may open the door for a short-term relief rally [6] Investment Strategy - Traders emphasize patience and capital preservation, suggesting remaining largely on the sidelines until clearer structural signals emerge [4][5] - Current Bitcoin price range of $63,000–$69,000 is not attractive for buying, with a preference for a deeper pullback toward $40,000–$46,000 [4]

Core Insights - d'Amico International Shipping S.A. is focusing on capital allocation, fleet renewal, and earnings visibility amidst strengthening product tanker markets and geopolitical disruptions [1] Financial Foundation - The company operates a fleet of 29 product tankers, primarily MR2s, with an average vessel age of 9.6 years; 27 of these vessels are owned [2] - As of September 2025, the net financial position to fleet market value ratio was approximately 7% [2] - d'Amico reported net profits of $63 million for the first nine months of 2025, with average daily spot earnings rising from $21,150 in Q1 to $25,500 in Q3 [2] Fleet Renewal Strategy - The fleet renewal program includes orders for four LR1s in 2024, two MR1s in late 2025, and two MR2s in early 2026, totaling an investment of nearly $419 million, with $374 million still payable [3] - New MR2s are expected to achieve about 17% fuel savings compared to existing vessels, while new MR1s are projected to save around 20% [3] - Eco vessels command a daily premium of $1,500-$2,000 over conventional ships, with super Eco newbuilds attracting an additional $1,000 premium [3] Shareholder Returns - The company aims for a 40% payout ratio from 2024 results, expected to be confirmed for 2025 [4] Earnings Visibility - 42% of available days in 2026 are covered at an average rate of $23,300 per day, with 16% of 2027 covered at $22,200 per day; management anticipates increasing 2026 coverage to around 50% in the coming months [5] Geopolitical Impact - Recent sanctions on Russia have created obstacles for exports, leading to increased oil on water due to inefficient practices like ship-to-ship transfers [6] - A potential peace agreement between Ukraine and Russia may not lead to immediate sanction removals, and normalization of Russian trade flows could accelerate the scrapping of older vessels, aiding market rebalancing [7]

Core Viewpoint - Gold and silver futures experienced a rally as investors evaluated the potential for Federal Reserve rate cuts alongside ongoing geopolitical tensions [1] Group 1: Market Reactions - Investors are closely monitoring the likelihood of Federal Reserve rate cuts, which is influencing the performance of gold and silver futures [1] - The geopolitical tensions are also contributing to the increased interest in precious metals as a safe-haven investment [1]