Flash News

TREE NEWS update: Australian miner Bannerman Energy expects to finalize an agreement with China National Nuclear Corporation (CNNC) by the end of September to jointly develop the Etango uranium project in Namibia. Under the deal, CNNC will acquire a 45% stake in the subsidiary that holds 95% of Etango. Fellow Australian miner Deep Yellow is also advancing a large uranium project in Namibia, as both firms bet on a global nuclear revival.

TREE NEWS reports: China’s inbound tourism could generate 1 trillion to 3 trillion yuan in potential market growth over the next 10 years, according to a report released on September 10 by the Chinese Academy of International Trade and Economic Cooperation’s international services trade institute at the China International Fair for Trade in Services. The report, produced with support from Trip.com Group, said inbound tourism has established a solid base and could enter a high-quality development phase, with inbound tourism revenue as a share of GDP expected to rise to the international average.

TREE NEWS update: Iraq’s Prime Minister’s Office said an investigation confirmed that drone strikes targeting Saudi Arabia were launched from inside Iraqi territory. An Iraqi military commander has been dismissed over the incident, the office said. No further details on the commander’s identity or the timing of the strikes were provided.

TREE NEWS reports: A Datafolha poll shows Brazilian presidential candidate Jair Bolsonaro trailing incumbent President Luiz Inácio Lula da Silva in the first round of the election, with 35% support against Lula’s 39%. The survey covers first-round voting intentions in Brazil’s presidential race.

TREE NEWS reports: MSCI’s emerging markets stock index dropped 1.3%, while the gauge tracking developing-nation currencies slipped 0.2%. The declines mark a weaker session for emerging-market assets across both equities and foreign exchange.

TREE NEWS update: A 6.2-magnitude earthquake struck Indonesia’s Java island. The quake was recorded by the GFZ monitoring network. No further details on depth, epicenter or damage were immediately available.

TREE NEWS update: The US Court of Appeals for the DC Circuit ruled that the Department of Energy lacks authority under federal law to use emergency powers to stop the closure of the J.H. Campbell coal plant in Michigan. The court sided with Michigan, Minnesota, Illinois and public interest groups, finding the DOE misread the law’s meaning of “emergency intervention” and that no short-term crisis exists to override state grid authority.

TREE NEWS update: Saudi Arabia issued an alert on Saturday for potential danger in Khamis Mushait. Authorities warned residents in the area about the risk, though no further details were immediately provided. The nature and source of the threat were not disclosed.

TREE NEWS update: Russian President Vladimir Putin said the conflict in Ukraine was provoked by the West, which pressured Russia and sought to pull Ukraine into NATO. He said everything happening in Europe is the result of systemic errors by Western globalists. Putin declined to comment on the Saxony-Anhalt election, calling it purely a German domestic matter.

TREE NEWS reports: The FTSE China A50 index futures closed the night session up 0.03% at 14,517 points. The move extends a quiet overnight session for the Singapore-listed contract tracking the 50 largest A-share companies on the Shenzhen and Shanghai exchanges.

TREE NEWS update: Saudi Arabia’s foreign ministry said on the 11th that multiple drones launched from Iraq struck the kingdom’s East-West oil pipeline in the Riyadh and Medina areas, injuring people and damaging facilities. Damage is still being assessed. Riyadh said it had earlier given Iraq’s government, at its prime minister’s request, the opportunity to stop cross-border attacks, and reserves the right to take all necessary measures to protect its sovereignty, security and residents.

TREE NEWS reports: The US 10-year Treasury yield rose 0.43 basis points to 4.9669% in New York trading on Friday, September 11, after spiking to 4.9792% when US CPI inflation data was released at 20:30 Beijing time, staying close to the October 23, 2023 peak of 5.0187%. It then fell to a session low of 4.9016% at 21:03, tracing a W-shaped day and gaining 18.48 basis points for the week. The 2-year yield rose 3.98 basis points to 4.6254%, up 25.93 basis points on the week.

TREE NEWS reports: Analysts at Bancorp Santander SA estimate Japan’s Government Pension Investment Fund could sell $62 billion of its US Treasury holdings. The call points to potential repatriation flows from the world’s largest pension fund, with implications for US bond demand and global rates.

TREE NEWS reports: US equity futures closed higher on Friday, September 11, in New York. S&P 500 futures finished up 0.86%, Dow futures rose 0.96% and Nasdaq 100 futures gained 0.92%. Russell 2000 futures added 0.43%.

TREE NEWS reports: Residents and businesses across more than a dozen Northern California counties face power shutoffs this weekend as strong winds and shifting humidity raise wildfire risk. Public safety power shutoffs could hit parts of eight inland counties on Saturday, with customers in four more counties facing outages from Sunday. A red flag warning runs from Saturday through Monday morning north of Sacramento as dry air descends from the mountains along the California-Nevada border.

TREE NEWS update: Fitch Ratings affirmed Italy’s sovereign credit rating at BBB with a stable outlook. The agency kept the country one notch above investment grade, maintaining the assessment it has held. No change was made to the outlook, which remains stable.

TREE NEWS reports: Spot gold rose 0.68% to $4,348.11 an ounce at the New York close on Friday, September 11, after dipping to $4,293.49 when US CPI inflation data was released at 20:30 Beijing time and then rebounding to an intraday high of $4,402.27 in early US stock trading. Gold fell 1.85% for the week. COMEX gold futures slipped 0.39% on the day and 1.98% on the week, while COMEX copper rose 0.30% to $6.5525 a pound but lost 1.80% over the week.

TREE NEWS reports: Bitcoin’s golden cross — the bullish signal from the 50-day moving average crossing above the 200-day — has flickered off as the interest-rates market rapidly repriced toward firmer rate-hike bets. The shift in rate expectations has changed the near-term outlook on the Bitcoin chart, weakening the technical setup that had pointed to continued upside.

TREE NEWS update: The Secretary-General of the Gulf Cooperation Council said Iraq must take the necessary and decisive measures to prevent attacks from occurring. The statement did not name specific incidents, groups or locations. No further details were provided.

TREE NEWS update: Iraq’s prime minister has ordered an investigation into recent attacks on Saudi Arabia. The statement did not specify the nature, timing or location of the attacks, nor name any suspected perpetrator. No further details were immediately provided.