TREE NEWS update: Workers at Codelco’s Hales mine in Chile have withdrawn their blockade of the site, the union said. The action at the state copper producer’s operation was called off. No further details on the duration of the blockade or its impact on output were provided.
TREE NEWS reports: The MSCI Nordic Countries Index rose 1.2% to 396.74 points, its biggest single-day gain since Oct. 9 and its second straight advance. The Nordic industrials sector posted the largest gain among the index’s ten sectors. Genmab A/S climbed 12.1%, leading all Nordic constituents.
TREE NEWS update: German President Frank-Walter Steinmeier arrived at Hefei Xinqiao International Airport early on October 27, beginning a state visit to China running through October 31 at the invitation of President Xi Jinping. The trip marks his first visit to China in nearly eight years.
TREE NEWS update: Audi said political neutrality remains an important principle for the company and will be maintained, a spokesperson stated. The decision for its CEO to attend an event in the U.S. state of Georgia was made after careful consideration and is fully in the company’s best interest, the spokesperson added. The automaker did not provide further details.
TREE NEWS update: Audi CEO Gernot Dollner on Sunday defended the company’s plan to build a $4 billion plant in Georgia, calling it a business decision aimed at raising sales and reducing U.S. tariff risk. Speaking at a media roundtable, Dollner said the U.S. is the world’s second-largest luxury car market and Audi has not fully tapped its potential. The plant, Audi’s first in the U.S., was announced by President Donald Trump at a Georgia rally on Saturday.
TREE NEWS update: Russia and Ukraine have agreed to a ceasefire in Oleshky in the Kherson region, set to take effect at 4:00 a.m. Moscow time on Oct. 27, or 3:00 a.m. Kyiv time. A humanitarian corridor will open to deliver aid and evacuate residents. Kremlin spokesman Dmitry Peskov said on Oct. 26 the temporary truce could set a precedent, but stressed that restoring trilateral talks with the U.S. and Ukraine would not halt hostilities.
TREE NEWS reports: Brazil’s stock market crashed after Lula da Silva defeated Flávio Bolsonaro in the presidential election, a result prediction markets had priced at just 20%. The iShares Brazil ETF fell as much as 26%, while the dollar jumped as much as 12% against the real.
TREE NEWS reports: Brent crude oil broke through the $111-per-barrel threshold, trading at $111.08 a barrel. The move marks a fresh push above the round-number level for the international benchmark.
TREE NEWS update: Russian President Vladimir Putin will meet Iranian President Masoud Pezeshkian and Qatari Emir Sheikh Tamim bin Hamad Al Thani separately in Moscow on October 27, Kremlin aide Yuri Ushakov confirmed on October 26. Speaking before departing for Russia, Pezeshkian said he would discuss strengthening bilateral ties and issues of mutual concern with Putin, stressing that Iran seeks multilateralism rather than unilateralism or displays of military force.
TREE NEWS reports: Germany’s four transmission system operators forecast the country’s renewable energy support bill will rise about 8% to €17.52 billion ($19.6 billion) in 2027, with solar installations accounting for the largest share at an estimated €9.6 billion. The figures cover the levy used to fund renewable power subsidies.
TREE NEWS update: Israel will hold its next parliamentary election on October 27, the first since the outbreak of the latest Israeli-Palestinian conflict on October 7, 2023. After prolonged regional conflict, Israeli voters are deeply divided over national security and the country’s political direction, with public opinion split on key election issues.
TREE NEWS update: The US Treasury auctioned three-month bills at a high yield of 4.050% with a bid-to-cover ratio of 3.07, and six-month bills at 4.210% with a bid-to-cover ratio of 2.63.
TREE NEWS reports: Germany’s DAX 30 index closed provisionally 1.22% higher at 25,487.75 on the day. France’s main index gained 1.07%, Italy’s benchmark rose 1.35% with its bank index up 2.2%, and the UK index added 0.73%.
TREE NEWS reports: Europe’s STOXX 600 index gained 0.84% to 641.13 in its preliminary close, with Genmab, ComputaCenter and Technoprobe leading the constituents while EssilorLuxottica and Santander lagged. The euro-zone STOXX 50 rose 1% to 6,129.60, led by Nokia, Siemens Energy and Hermès. The FTSE Eurofirst 300 advanced 0.8% to 2,557.10.
TREE NEWS update: Japan’s Ministry of Economy, Trade and Industry is expected to soon select Rikou Co. and Choshu Sangyo Co. as recipients of subsidies, with a Sekisui Chemical subsidiary set to begin mass production of perovskite solar cells in Japan in 2027. The ministry’s selection would support the companies’ involvement in the domestic perovskite solar supply chain.
TREE NEWS reports: The U.S. national average price of gasoline stood at $4.286 per gallon as of last Sunday, exceeding price levels seen during the Biden administration at this point in the year. Americans have never paid this much for fuel this late in a calendar year. Biden still holds the single-day national record of $5.02 per gallon set in June 2022.
TREE NEWS update: Iranian President Masoud Pezeshkian said on the 26th that Iran’s goal is to develop multilateralism rather than unilateralism or displays of national force, ahead of a trip to Russia for talks with President Vladimir Putin on strengthening bilateral ties. He said trade should be conducted in national currencies or mutually agreed currencies to prevent US unilateral sanctions from taking effect, and that free energy flows must be guaranteed for global energy sharing.
TREE NEWS reports: US crude oil inventories in the Strategic Petroleum Reserve fell to 282.6 million barrels last week, the lowest level since 1982, the Energy Information Administration said. The figure marks a fresh multi-decade low for the emergency stockpile.
TREE NEWS update: A meeting involving Iran, Saudi Arabia, Turkey and Pakistan has concluded, Iranian state broadcaster IRIB reported. The report gave no further details on the agenda, participants or outcomes of the talks. No joint statement or additional information was immediately available.
TREE NEWS reports: South Africa’s FTSE/JSE Africa Top 40 tradable index closed up 0.99% on Monday, October 26, approaching the 101,000-point level. The gain marked a positive session for Africa’s largest equity market benchmark.