Flash News

TREE NEWS reports: Europe’s STOXX 600 index closed provisionally up 0.36% at 637.32 points. The eurozone’s STOXX 50 rose 0.39% to 6,190.89, while the FTSE Eurofirst 300 gained 0.45% to 2,545.73. The three benchmarks all ended the session higher.

TREE NEWS update: A Houthi military source in Yemen warned shareholders of Saudi Aramco to sell their holdings. The warning names the oil company’s investors directly and gives no further detail on timing or specific targets. Aramco is Saudi Arabia’s state oil giant and one of the world’s largest listed companies.

TREE NEWS update: Portugal’s government selected Lufthansa on Wednesday to acquire up to 49.9% of state carrier TAP Air Portugal for €1.2 billion (about $1.3 billion), beating rival Air France-KLM. The deal makes the German airline the strategic partner of one of Europe’s few remaining unaligned flag carriers.

TREE NEWS update: The naval commander of Iran’s Islamic Revolutionary Guard Corps, Ali Azmaei, said in a televised interview on state broadcaster IRIB on the evening of the 13th that US claims the Strait of Hormuz remains open are ‘completely inconsistent’ with the actual situation. He said the IRGC Navy is monitoring the strait around the clock.

TREE NEWS reports: The British pound fell 0.9% against the US dollar to 1.3137, marking its weakest level since November 2025. The drop extends sterling’s recent slide against the greenback.

TREE NEWS reports: Citigroup now expects the Federal Reserve to raise interest rates in December, a view it previously did not hold, while maintaining its forecast for multiple rate cuts in 2027. The bank’s revised call marks a shift from its earlier expectation of no December hike. Citi left its 2027 outlook unchanged.

TREE NEWS reports: At least 37 million barrels of crude tanker capacity stopped or changed course while heading toward waters off the UAE and Oman over the past week, Bloomberg-compiled ship-tracking data show. Those locations are commonly used to receive crude transshipped out of the Persian Gulf, and 21 million barrels of capacity paused or diverted in the last two days alone. The unusual movement suggests some shipping firms and crews are wary of waters near where Iran has attacked vessels.

TREE NEWS reports: Ivory Coast’s cocoa bean processing rose 46.6% year on year in September to 49,517 metric tons. Cumulative processing since the start of the 2025/26 season reached 650,689 metric tons as of end-September, up 10.6% from 588,194 tons a year earlier. GEPEX data covers six of the largest processors, including Barry Callebaut, Olam International and Cargill. National processing capacity stands at 750,000 tons.

TREE NEWS update: The US Treasury will buy back up to $6 billion of longer-dated bonds on Thursday. The operation targets longer-maturity debt as part of the department’s regular repurchase program.

TREE NEWS reports: Coking coal futures closed down about 4.8% in the night session, with coke dropping roughly 3.1%, bitumen falling about 1.6% and PTA down 1%. LPG bucked the trend with a gain of about 0.9% and fuel oil rose about 1.8%.

TREE NEWS update: Two striking unions at Antofagasta’s Centinela copper mine in Chile are continuing mediation with the company to resolve a labor dispute, the Minera Esperanza and Distrito Centinela unions said. Talks are ongoing with the labor authority’s involvement. Antofagasta said in a statement that Centinela has maintained production on schedule despite the strike, which began on October 7.

TREE NEWS reports: US September core inflation came in above expectations, pushing Treasury yields higher and prompting traders to price in a possible Federal Reserve rate hike in December, sending mining stocks lower on Wednesday. The NYSE Arca Gold Miners Index fell as much as 4.3% to its lowest since August, with Newmont down 3.2% and Barrick down 3.9%. Spot silver dropped as much as 5% to its lowest since late July, while copper slipped 0.4% in London.

TREE NEWS reports: Bitcoin fell after September CPI came in at 3.7%, above forecasts, pushing Treasury yields higher and dragging crypto down alongside stocks. The hotter-than-expected inflation print put a Federal Reserve rate hike back on the table, pressuring risk assets.

TREE NEWS update: Russian Deputy Prime Minister Alexander Novak said Ukraine attacked two oil refineries inside Russia on Monday, one in Saratov region and another in Ryazan region. Novak added that Russia sees no sign Ukraine is moving toward an energy ceasefire.

TREE NEWS update: China’s auto industry bodies and major automakers welcomed the positive outcome of the second meeting of the China-EU trade and investment consultation mechanism. The China Association of Automobile Manufacturers, BYD, Geely Holding Group and Chery Group all issued statements on October 14 supporting the resolution of automotive trade disputes through dialogue and consultation.

TREE NEWS reports: The secured overnight financing rate (SOFR) printed at 3.89% on Oct 13, up from 3.87% the prior day. The effective federal funds rate for the same day was 3.88%, unchanged from the previous session. SOFR is the benchmark underpinning most US dollar floating-rate debt and derivatives.

TREE NEWS update: Iranian and Lebanese officials held a phone call to discuss the regional situation, Iran’s state news agency IRNA reported. No further details of the discussion, the participants or the timing were disclosed in the initial report. The call comes amid heightened tensions across the Middle East.

TREE NEWS update: Israel Defense Forces Chief of Staff Zamir said at a Central Command situation assessment and operational briefing on the 14th that the military has sent additional troops to the West Bank and is at a high level of combat readiness, citing a rise in attack warnings across all fronts and increased risk of regional escalation. The deployment aims to strengthen strategic security and stability in the area.

TREE NEWS update: China and Singapore convened the eighth meeting of the bilateral investment promotion committee on October 13 via video link. The meeting was co-chaired by Chinese Commerce Minister Wang Wentao and Singapore Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong. The two sides exchanged views on two-way investment, government-to-government cooperation projects and advancing bilateral cooperation.

TREE NEWS reports: Shayne McGuire, an analyst at the Texas Teacher Fund, said institutional investors’ exposure to gold is “negligible,” speaking at a Financial Times event. McGuire added that a substantively bullish stance on gold prices is acceptable for institutions.