Flash News

TREE NEWS update: European Commission President Ursula von der Leyen said the Libya-Turkey maritime agreement violates the sovereign rights of third countries, does not comply with the law of the sea and is invalid. She reaffirmed the EU’s solidarity with Greece and Cyprus and repeated the bloc’s opposition to any external interference in Libya.

TREE NEWS update: Libya’s eastern-based parliament on Tuesday approved a maritime boundary agreement with Turkey, prompting strong condemnation from Greece, which called the move a violation of international law. The deal is part of a long-running dispute over maritime borders and energy exploration rights in the eastern Mediterranean. It was originally reached in 2019 by the internationally recognized Tripoli government in the west but had for years gone unratified by the rival eastern administration led by military commander Khalifa Haftar.

TREE NEWS reports: Rail logistics firm VTG GmbH said Germany’s rail network cannot absorb all cargo diverted from the Rhine, where low water levels and rail maintenance have further squeezed capacity. Rail has taken on a “substantial share” of the diverted volume, but “rail cannot currently replace Rhine shipping one-for-one” because German rail construction work is ongoing. A full freight train carries 1,200 to 1,500 tonnes, less than a standard barge.

TREE NEWS update: Qatar’s Prime Minister’s adviser and Foreign Ministry spokesman Majed Al-Ansari said on October 20 at the eighth Global Security Forum in Doha that negotiations between the United States and Iran over Iran’s nuclear program are continuing, with both sides maintaining diplomatic contact despite escalating tensions in the Middle East.

TREE NEWS update: UK Prime Minister Burnham plans to introduce legislation to cut welfare spending, with a draft bill potentially tabled as early as April next year. The plan would require parliamentary approval before taking effect. No further details on the scope of the cuts were provided.

TREE NEWS update: HSBC Holdings CEO Georges Elhedery said AI is a key enabler for reshaping the bank, but cautioned investors to be selective rather than make all-in bets on the underlying infrastructure. In remarks reported by CNBC, he stressed the need to assess the quality of tenant agreements and contract pricing, noting that not all data center projects have sufficiently strong contracts and some may prove more challenging.

TREE NEWS update: Iran’s Supreme National Security Council Secretary Rezaei said on the 20th that all enriched nuclear material will remain in Iran, calling it the Iranian people’s valuable asset to be used domestically. He said all Iranians and officials agree no negotiations will take place until the U.S. builds trust, with the first step being to meet Iran’s conditions. Pakistan’s Army Chief Munir said the Iran-Pakistan border reopened that morning after border issues were resolved.

TREE NEWS reports: The Federal Reserve’s overnight reverse repo facility took in $227 million on Tuesday, October 20, from three counterparties, down from $330 million the previous trading day. The RRP is a key tool the Fed uses to help set a floor under short-term interest rates.

TREE NEWS update: Paris police headquarters announced a curfew in parts of the city from 23:00 on Oct 20 to 06:00 on Oct 21. The measure applies to selected districts and marks a renewed overnight restriction. No further details on the affected areas or the reason were given in the announcement.

TREE NEWS update: Ukrainian President Volodymyr Zelensky said Ukraine wants peace more than anyone and that Russia started the conflict, adding he held a good call with U.S. Secretary of State Marco Rubio this morning. Zelensky said Ukraine is prepared to refrain from striking sensitive parts of Russia’s energy infrastructure if Russia also stops attacks.

TREE NEWS reports: International copper rose 0.53% in the night session, with Shanghai copper also up 0.53%, while aluminum slipped 0.11% and lead fell 0.15%. Nickel gained 1.47% and tin climbed 1.70%, alumina added 0.38% and aluminum alloy dropped 1.26%, with stainless steel up 0.07%.

TREE NEWS update: The death toll from a drone strike on a market in Abyei has risen to 226, the region’s acting information minister and government spokesperson, Yohana Ngol, said on the afternoon of Oct. 20 local time. The attack struck the Amiet market on Oct. 19. No further details were immediately provided.

TREE NEWS update: Bank of England Monetary Policy Committee member Greene said the slowdown in wage growth has stalled, flagging a persistent inflation risk for the central bank. The remark points to lingering domestic price pressure as the MPC weighs the pace of easing. No further figures or policy signal were given.

TREE NEWS reports: French right-wing politician Marine Le Pen is projected to win 34%-38% of the vote in the first round of the presidential election. The survey places the National Rally figure in that range for the opening round of the contest.

TREE NEWS update: Iranian Parliament Speaker Mohammad Bagher Qalibaf met Pakistan’s Chief of Army Staff Asim Munir on the 20th, stating that Washington’s long-standing hostile actions have left Iran deeply distrustful of the United States. Qalibaf said the Trump administration violated the Islamabad Memorandum of Understanding and that repeated threats have deepened that distrust. He added that military threats cannot affect Iran’s strategic decisions and that the US must take steps to extricate itself from the conflict it started.

TREE NEWS reports: London Metal Exchange copper closed $82 higher at $14,420 a tonne, while aluminium fell $14 to $3,002/t and zinc gained $11 to $3,725/t. Lead slipped $2 to $1,894/t, nickel rose $133 to $15,662/t and tin jumped $495 to $1,334/t. Cobalt was unchanged at $34,620/t.

TREE NEWS reports: France’s 10-year government bond yield slipped 0.4 basis point to 4.932% on Tuesday, holding near its highest level in 24 years after touching an intraday peak of 4.990%. The yield remains close to the October 2 high of 4.995% and the 2002 first-quarter peak of 5.367%. Italian, Spanish and Greek 10-year yields fell 4.7, 4.3 and 5.0 basis points respectively.

TREE NEWS reports: Metals trader McNess has established a large position in London Metal Exchange October copper contracts, the trader known for large-scale aluminium bets has taken the copper exposure. The size and direction of the LME October copper position were not disclosed. McNess built his reputation on outsized aluminium wagers.

TREE NEWS update: A magnitude 5.0 earthquake struck 21 kilometers southwest of Meulaboh, Indonesia, the U.S. Geological Survey reported. The agency gave no immediate information on depth, casualties or damage. Meulaboh is on the west coast of Aceh province, Sumatra.

TREE NEWS update: Chinese Premier Li Qiang arrived in St. Petersburg late on October 20 local time at the invitation of Russian Prime Minister Mikhail Mishustin to hold the 31st regular meeting between the Chinese and Russian prime ministers. State Councilor and Secretary-General of the State Council Wu Zhenglong and other accompanying officials arrived on the same flight. Russian Deputy Prime Minister Dmitry Chernyshenko and Chinese Ambassador to Russia Zhang Hanhui greeted them at the airport.