Tag Archives: Basic Materials/Resources

Travel documents under pressure in London as investors monitor Bristol COVID-19 variant | Instant News

London stocks were heading for weekly gains, but the FTSE 250 envisioned a loss as travel-related names took a hit amid concerns over another potential strain of the coronavirus that causes COVID-19. The FTSE 100 UKX index, + 0.94%, rose 0.2% and is expected to gain 0.8% for the week, as global stocks struggled to propel themselves up and ahead of a public holiday in the US Monday. The FTSE 250 MCX Index, + 0.09%, more focused on the domestic market, fell 0.1% and faces a weekly loss of 0.4%. Fears over the potential impact on the UK of another strain of coronavirus found in Bristol weighed on travel names such as TUI TUI1, -0.95%, down 4%, Carnival CCL, -0 , 87%, down 3.8%, easyJet EZJ, + 0.37%, down 3.4%, and FirstGroup FGP, + 0.13%, down 0.6%, said Joshua Mahony, senior market analyst at IG. “Recent gains in inventory value have been built on the notion that the vaccination program and reopening process is linear and predictable in nature, but tensions in South Africa and now in Bristol highlight the potential to derail that presumption. “, did he declare. Sky News reported that the mutation in Bristol may be able to bypass vaccines as it changes the appearance of the original strain. This is how a top British scientist warned on Thursday that the much more infectious variant of the coronavirus that causes COVID-19, which first emerged in this country, could “sweep the world”. As for larger shares up, shares of AstraZeneca AZN, + 2.91% AZN, + 3.11% rose 1.6%, the day after the pharmaceutical company, which was in the spotlight for its development of a COVID-19 vaccine with the University of Oxford, announced strong full-year results on Thursday. Shares of pharmaceutical company GlaxoSmithKline GSK, + 1.82% GSK, + 1.22% rose 1%. Mining stocks weighed down, with Anglo American AAL shares -0.02% down more than 1% and Glencore GLEN, -0.26% down 1.5%. Elsewhere, new data has shown that the UK economy sank deeper than any other European country in 2020, as confirmed by the Office for National Statistics. It marked the worst recession since the Great Frost of 1709, but the economy grew 1% in the fourth quarter, avoiding a double-dip recession, analysts noted. Opinion: Why the UK economy can quickly turn a corner.

image source

China’s Coal War With Australia’s Domestic Fuel Shortage | Instant News

HONG KONG – China Australian coal import ban is intensifying the crisis in the coal market, which is battling price hikes, shortages of supply, conflicting policy objectives, and a cold winter.

Locked in a diplomatic fights on Canberra’s call independent global investigation to the origins of Covid-19Beijing imposed an unofficial ban around September that forced Australian coal ships to languish at sea. China’s central government imposed a formal embargo at a mid-December meeting with China’s main power producers, which are big buyers of thermal coal.

The ban complicates a supply crisis that the meeting had to resolve, according to government reports and state media. China is short on thermal coal and officials are urging companies to import more – from anywhere but Australia, China’s biggest supplier. To meet this, buyers in China have to pay a high premium for imports from distant places, in addition to prices which have increased 84% since mid-year.

“Coal buyers are nervous about the import market,” the China Coal Transport and Distribution Association, which represents importers, said in a statement. “It is difficult to replenish low coal supplies and shortages, while demand continues.”

From Norwegian salmon to Mongolian commodities, Beijing has in recent years increasingly used the weight of Chinese purchases to apply political pressure abroad – but the coal market shows that this strategy could backfire. Even when Chinese buyers comply with Beijing, Australian coal prices strengthen as other buyers from major coal consuming countries, including Japan and India, step in.


image source

Australia Considering New Covid-19 Quarantine Strategy: Inland Isolation | Instant News

SYDNEY – Australia relies on one of the world’s countries the most aggressive quarantine program to prevent the corona virus. Now, a leader wants to go a step further by accommodating returning travelers in Outback camps away from cities as the new Covid-19 variant threatens the country’s success.

The Queensland state premier wants to reuse the camps designed for resource workers as isolation centers in remote scrub where temperatures can reach 100 degrees Fahrenheit. It follows an outbreak of the highly contagious coronavirus at a quarantine hotel in the state capital of Brisbane, Australia’s third-largest city with a population of around 2.5 million people.

“I think with this new tension, we have to put all the options on the table and this is a sensible and rational option,” said Annastacia Palaszczuk, who was re-elected as Queensland’s prime minister in late October partly because of her center-left government. crackdown to tackle Covid-19.

The idea of ​​using remote camps illustrates how leaders in places that have contracted the virus are considering more extreme measures to protect people from a new variant of the corona virus, which emerged in Britain and South Africa and has since spread to more countries. Currently, travelers returning to Australia are housed in hotels, often close to city airports, for 14 days.

Queensland was running nearly four months with no cases of local transmission when cleaners at a quarantine hotel in Brisbane tested positive for the new British variant. More cases followed, and the 129 people in isolation were immediately transferred to another hotel and their quarantine was extended.


image source

Palladium eyes new records in 2021 and travel set to climb | Instant News

Palladium recorded a fifth straight year of gains in 2020 and the rally shows no signs of slowing down. Greater restrictions on air pollution and a likely resumption of travel following the passage of the coronavirus pandemic are expected to boost demand for the metal used in auto parts. Stricter issuance rules are expected to push palladium prices up, especially given new standards in China, the second-largest consumer of metal behind the United States, says Steven Dunn, head of exchange-traded funds at Aberdeen Standard Investments. To comply with these standards, all new cars in China must be fitted with “good quality catalytic converters,” which means around 30% more palladium per vehicle, he says. “As countries continue to tighten emissions standards, palladium should be a beneficiary.” “As countries continue to tighten emissions standards, palladium should be a beneficiary.” – Steven Dunn, Aberdeen Standard Investments Palladium is primarily used in the catalytic converters of gasoline vehicles, which transform the most harmful pollutants in car exhaust gases into more environmentally friendly compounds like carbon dioxide and water, Dunn said. Palladium prices therefore have a strong correlation with the auto industry, which is expected to rebound in 2021, he says. Car and Driver magazine estimated that new vehicle sales in the United States were down 14.9% to 15.5% to about 14.5 million in 2020, bringing sales to the lowest level since 2012. However , the automotive enthusiast publication noted that a sales recovery had started. in summer and continued until December, amid an increase in Covid-19 cases across the country. Palladium PAH21, -2.20% PA00, -2.20% prices ended 2020 with a gain of around 29%. It hit a record settlement of $ 2,711.70 an ounce on February 27, 2020, but suffered a 48% drop from that level to mark its lowest settlement of the year on March 18, at 1,419.80 $. On Wednesday, the metal stood at $ 2,448.10, less than 10% below the record. Palladium prices have been increasing aggressively for several years, supported by an “acute imbalance between supply and demand, alongside the tightening of automobile emission standards”, ahead of the pandemic’s effects on demand in 2020, says Chris Blasi, President and President of Neptune Global. He expects prices this year to trade between $ 2,250 and $ 3,000, which would be a new record, with prices likely averaging around $ 2,710. Biden’s incoming administration is expected to be “environmentally focused and join the Paris Climate Agreement,” he said. “Such a position should further increase the demand for essential elements to achieve pollution control goals.” At the same time, palladium supplies have been in deficit for a decade, and that is unlikely to change anytime soon, he says. Meanwhile, the global distribution of the Covid-19 vaccine may impact palladium prices because “if more people start to resume a certain level of travel, the mode of transport most likely to be used will be the car. Says Ed Egilinsky, Managing Director and Head of Alternatives at Direxion. A “reopening of the global economy will be a key driver of this take shape and potentially lead to a significant spike in auto sales.” Other lockdowns or additional strains of the virus, on the other hand, could lead to supply constraints in the palladium market, he says. This could be the result of mining disruptions, but these constraints could also be offset by a decrease in automotive demand. Egilinsky says it’s possible to see palladium prices reach new highs in 2021, especially if there is a global recovery, a pickup in automotive demand, and more regulated global emission standards, but that ” may need to coincide with some level of supply disruption for this to happen. the story unfolds. “.

image source

Try These 6 Travel & Leisure Stocks To Play A Vaccine-Driven Demand Rebound | Instant News

Business trips fell off a cliff during the pandemic, dragging air traffic with them. The Las Vegas Strip, usually teeming with conference attendees and vacationers, looks more like a quiet resort than a hive of 24/7 activity. No cruise ship – apart from a few latecomers hit by Covid – have only boarded or entered US ports since mid-March. Even domestic pleasure travel, a relatively bright spot in summer and fall, is facing a wave of Covid-19 cases and a new one ….

image source