Flash News

TREE NEWS update: US Vice President JD Vance announced $1.3 billion in domestic fertilizer for Nebraska, the White House said. The funding is intended to support domestic fertilizer production and supply in the state. No further details on the program’s structure or timeline were provided.

TREE NEWS update: Norway’s sovereign wealth fund said it was among investors harmed in a crisis involving a Turkish fund and has taken steps to review its Turkish equity holdings. “Do you know who the victims are here? It’s the market participants who may have been manipulated,” Deputy CEO Trond Grande said on a call with reporters. “We are more victims than perpetrators.”

TREE NEWS reports: The spread between French and Italian 10-year government bond yields broke above 50 basis points for the first time. The widening marks a fresh milestone in euro-area sovereign debt pricing, with French yields rising relative to their Italian counterparts. No further detail was immediately available.

TREE NEWS reports: Freddie Mac reported that the U.S. 30-year fixed mortgage rate averaged 7.32% last week, down from 7.4% the prior week. The reading still marks at least the highest level since November 2023, keeping borrowing costs elevated for homebuyers.

TREE NEWS update: UK Prime Minister Burnham said on the 21st that the government approved the long-delayed Jackdaw gas field project in the North Sea, calling it a “pragmatic move” that would strengthen the country’s energy security. In a video on social media, Burnham said the UK will still need oil and gas for decades despite its 2050 net-zero target, arguing it is “unreasonable to rely solely on foreign imports” given Middle East conflict and rising living costs. Cornwall Insight forecasts the average UK household energy bill will rise by £276 (about $369), or 16%, this year, the highest in four years.

TREE NEWS reports: The US 10-year Treasury yield dropped below 5% on Wednesday, hitting its lowest level since September 23. The move marks a sharp reversal for the benchmark rate, which had recently traded above that threshold. No further details were provided on the drivers behind the decline.

TREE NEWS update: US President Donald Trump said Iran fabricated false attacks, mine-laying and other incidents in order to drive up oil prices. The remark, made in a statement, accuses Tehran of manufacturing events to influence crude markets. No further details or evidence were provided.

TREE NEWS reports: Gucci’s third-quarter same-store sales fell 6%, steeper than the 3.29% decline analysts had expected. Parent company Kering reported group revenue of €3.35 billion for the quarter, in line with analyst estimates, while Gucci’s own revenue came in at €1.29 billion versus a €1.30 billion consensus.

TREE NEWS update: US Interior Secretary said American natural gas is among the cleanest and most affordable energy sources in the world, adding that under the president’s leadership the administration is unlocking these resources to lower costs for American families. The remarks, delivered as a statement of policy, frame expanded gas development as a cost-of-living measure for US households.

TREE NEWS reports: The MSCI Nordic Countries Index fell 1.1% to 391.45 points, its largest single-day decline since July 8, when it closed down 1.6%. The industrial sector posted the steepest drop among the index’s ten sectors. Nokia closed down 9.7%, the worst performer among Nordic stocks.

TREE NEWS reports: The US Treasury auctioned four-week bills at a high yield of 3.945% with a bid-to-cover ratio of 2.82. A separate auction of eight-week bills cleared at 4.015% with a bid-to-cover of 2.57. The two short-dated sales give an updated read on the rates investors demand for holding US government paper at the front end of the curve.

TREE NEWS reports: Italy’s bank index fell 4.02% in preliminary trading, leading a broad European selloff. The FTSE MIB was down 2.47%, France’s index fell 1.56%, Germany’s DAX 30 dropped 1.03% to 25,381.30 points, and the UK index slipped 0.31%. The moves were reported as preliminary closing levels.

TREE NEWS reports: The Eurozone blue-chip STOXX 50 index fell 1.99% to 6,084.11 in preliminary close, while the pan-European STOXX 600 dropped 1.09% to 637.48. The FTSE Eurofirst 300 lost 1.12% to 2,543.73. The preliminary figures cover the European equity close.

TREE NEWS update: The China Earthquake Administration activated a Level II emergency response after an earthquake struck Baqing County in Nagqu City, Tibet. The administration announced the response on the same day, without giving the quake’s magnitude, depth or casualty figures. Level II is the second-highest tier in China’s four-level earthquake emergency response system.

TREE NEWS update: Libya’s eastern parliament has approved in principle the resignation of central bank governor Naji Issa and appointed board member Fowzi Musbah Abukhzam to the post, a parliament spokesman said Thursday. Issa submitted his resignation to both legislative bodies in August, saying he could not continue in the role without giving a reason.

TREE NEWS update: Canadian Prime Minister Mark Carney met Turkish President Recep Tayyip Erdogan in Turkey, the first bilateral visit by a Canadian leader, and the two NATO allies elevated their relationship to a “strategic partnership.” The partnership will focus on trade and investment, defense and security, energy and people-to-people exchanges, aimed at creating jobs and more opportunities for Canadian and Turkish businesses. Ottawa is seeking to expand trade partners and reduce reliance on the United States.

TREE NEWS reports: US homebuilder stocks rose in early Thursday trading as the 10-year Treasury yield moved lower, with the S&P 1500 Homebuilding index (S15HOME) gaining as much as 4.3%. Dream Finders Homes led with an 8.3% gain, followed by Lennar at 6.6%, Century Communities and KB Home at 6.1% each, and DR Horton at 4.7%. The SPDR S&P Homebuilders ETF rose as much as 2.7%, while office REITs and home-improvement retailers Sherwin-Williams, Lowe’s and Home Depot also advanced.

TREE NEWS reports: The Philadelphia Semiconductor Index dropped 6.06% intraday, with Nvidia down 3.95%, Broadcom 4.25%, Micron 4.39%, Intel 6.50%, AMD 7.64%, Qualcomm 2.35%, TSMC 4.19% and ASML 5.30%. The Nasdaq 100 fell 2.6%, led by Teradyne down 10.9%, Lam Research down 10.3%, Lumentum down 9.7%, ALAB down 9.5%, KLA down 8.9%, Seagate down 8.7% and Marvell down 8.3%.

TREE NEWS update: Israel announced sanctions on Coral Oil Co. Ltd./United Kingdom, accusing the company of supplying fuel to Lebanon’s Hezbollah. The designation targets a UK-registered entity over its alleged role in the group’s fuel supply chain. No further details on the scope of the sanctions were provided.

TREE NEWS update: Bank of Italy Governor Fabio Panetta said there is no evidence so far that large banks are causing a tightening of credit supply. The remark addresses concerns about whether consolidation or the behavior of major lenders is restricting access to credit. Panetta did not provide further details on the assessment.