Mining boss: Platinum to become a central bank reserve asset Mining Central banks could turn to platinum as the next frontier of their shift to bolster reserves with precious metals in favour of the US dollar, the boss of a leading miner has predicted. Valterra Platinum chief executive Craig Miller said that the world’s reserve banks are increasingly likely to view platinum as a safe haven [...]
Oil prices slide on Israel vow to avoid Iran refineries with retaliation Markets Oil prices tumbled by over four per cent on Tuesday after soft economic readings from China and reports that Israel has assured the US it would avoid oil and nuclear facilities in its expected retaliation on Iran. The price of Brent crude dropped 4.4 per cent – or $3.42 (£2.61) a barrel – and WTI [...]
China flags more fiscal stimulus for economy, leaves out key details on size Markets China pledged on Saturday to “significantly increase” debt to revive its sputtering economy, but left investors guessing on the overall size of the stimulus package, a vital detail to gauge the longevity of its recent stock market rally. Finance Minister Lan Foan told a press conference Beijing will help local governments tackle their debt problems, [...]
Are UK investors going to get burned by volatile Chinese stocks? October 9, 2024 The Chinese stock market is on a roll, seeing its best week since 2008 followed by its worst day since 1997 since the country’s central bank announced sweeping stimulus measures. The seesawing back and forth experienced by UK investors diving into the Chinese stock market might be scary, with many worrying the strong growth over [...]
Chinese stocks post best week since 2008 September 29, 2024 Chinese and China-focused stocks posted their best week since 2008 last week, with the CSI 300 index shooting up 15.7 per cent after strong economic stimulus measures were put in place by the country’s government. Every index tracking Chinese stocks benefited from the measures, with Hong Kong’s Hang Seng index rising more than 13 per [...]