Flash News

TREE NEWS reports: Germany’s DAX 30 index closed provisionally up 1.09% at 25,656.97 points, bringing its gain for the week to roughly 2.3%. France’s benchmark index ended up 0.37%, Italy’s rose 0.99% with its bank index up 1.16%, and the UK index closed 0.43% higher.

TREE NEWS reports: Europe’s STOXX 600 closed provisionally up 0.75% at 644.98 points, bringing its weekly gain to 2.1%. The eurozone’s STOXX 50 rose 0.70% to 6,211.19, up 0.6% for the week, while the FTSE Eurofirst 300 added 0.76% to 2,575.19.

TREE NEWS update: Yemen’s Houthi-run health authority said on the evening of the 16th that Saudi military operations have killed or wounded 419 people in Yemen since the escalation began on September 3. The casualty figure covers both deaths and injuries over the period. No breakdown between fatalities and wounded was given.

TREE NEWS update: Kirill Dmitriev, head of the Russian Direct Investment Fund, said the US Treasury asked RDIF to help broker a diesel agreement between Washington and Moscow, including handling payment arrangements and what he called purely tactical issues. Speaking at Russian Energy Week in Moscow, Dmitriev said RDIF will ensure all payments are made effectively and reach the intended recipients.

TREE NEWS update: South Africa is calling for larger and more predictable replenishments of global climate funds and stronger financing for climate adaptation ahead of the COP31 summit in Turkey in November. At an event in Johannesburg on October 16, Environment Minister David Mene said the country wants “ambitious and predictable” replenishments of the Green Climate Fund and the Global Environment Facility, with more money directed to adaptation measures covering drought, floods and cyclones.

TREE NEWS reports: The three major US stock indices traded mixed on October 16, with the Dow Jones up 0.38% intraday while the Nasdaq fell 1.04% and the S&P 500 slipped 0.13%. The divergence left the tech-heavy Nasdaq as the session’s weakest of the three benchmarks.

TREE NEWS reports: Fuel oil climbed about 4.5% in the night trading session, leading gains in China’s futures market. Iron ore rose 1.6%, PVC added 1.1% and palm oil gained 0.6%.

TREE NEWS update: Germany’s automotive industry association VDA said mandatory localization of electric vehicle battery production should not be required before 2031. The body representing the country’s carmakers and suppliers argued against forcing battery manufacturing to be sited domestically ahead of that date.

TREE NEWS reports: CBOT wheat futures fell 1.0% intraday to 697.42 cents a bushel. The move marks a 1% decline for the Chicago Board of Trade wheat contract during the session.

TREE NEWS reports: Shares of French satellite operator Eutelsat rose 20% as European satellite communications firms regained investor attention amid controversy over restrictions on Ukraine’s military use of SpaceX’s Starshield service. Eutelsat operates Europe’s rival satellite constellation. The dispute over Starshield access for Ukrainian forces has put the continent’s own satellite communications capacity back in focus.

TREE NEWS update: Iraqi Foreign Minister Fuad Hussein said the conflict between the United States and Iran has caused Iraq roughly $60 billion in economic losses. The statement did not break down how the losses were calculated or which sectors were affected.

TREE NEWS update: Australia has advised its citizens not to travel to Saudi Arabia. The advisory was issued without further detail on the specific reasons or any time frame. Australians already in the country were not given additional instructions in the available material.

TREE NEWS reports: Goldman Sachs strategists led by Sunil Koul said Brazilian markets may have further room to rise after the first round of the presidential election, depending on whether favorable fiscal policy is implemented after the October 25 runoff vote. They noted positioning in some sectors remains relatively light, foreign inflows still have room to accelerate, and valuations are broadly in line with fair value.

TREE NEWS update: Russian official Kirill Dmitriev said more US initiatives will be announced soon, Interfax reported. Dmitriev gave no further details on the nature or timing of the measures. The remarks come amid ongoing discussions between Washington and Moscow.

TREE NEWS reports: China’s gold jewellery consumption rose year on year in the first half of 2026, approaching its historical peak, the World Gold Council said on October 16 in its 2026 China Gold Jewellery Retail Market Insights report. Self-purchase demand is driving purchases, shifting the market from traditional ceremonial occasions to emotional motivation, with the 18-34 age group one of the core pillars of overall consumption.

TREE NEWS update: The United States is offering up to 17 million barrels of oil from its Strategic Petroleum Reserve, the government announced. The release draws on the country’s emergency crude stockpile, the volume being the only figure disclosed. No timing, buyer or delivery terms were given.

TREE NEWS update: Russian President Vladimir Putin’s special envoy Dmitriev said Russia and the United States are discussing joint data center projects, including the use of Russian nuclear power plants. He gave no further details on the talks, the participants or a timeline.

TREE NEWS update: Fangda Special Steel announced it will exit its position as a limited partner in Nanchang Huxu and acquire 100% of Jiangxi Fangda Steel Group Enterprise Investment Co. (Fangda Qitou) via in-kind distribution and cash purchase. The 99.26% stake is transferred through in-kind distribution at no additional consideration, valued at 3.5 billion yuan based on paid-in capital, while the remaining 0.74% is bought for 26 million yuan. The deal secures vanadium-titanium supply and vanadium extraction technology.

TREE NEWS update: People’s Bank of China Governor Pan Gongsheng met IMF Managing Director Kristalina Georgieva in Bangkok on the sidelines of the IMF/World Bank annual meetings, the central bank said. The two exchanged views on the economic situations in China and globally and on cooperation between China and the Fund. PBOC Deputy Governor Xuan Changneng also attended the meeting.

TREE NEWS update: Bank of China held the unveiling ceremony for a renminbi clearing bank in Colombo, Sri Lanka, on October 15. Sri Lankan Central Bank Deputy Governor Siri Kumara and Labour Minister and Deputy Finance Minister Fernando spoke at the event, which drew more than 200 representatives from Sri Lankan government departments and Chinese and Sri Lankan companies and financial institutions.