Metals

• European stock markets rallied on Thursday, with the pan-European Stoxx 600 rising 0.49% following robust private sector PMI data. • Key indices saw gains across the region, including the UK's FTSE 100 (+0.7%), Germany's DAX (+0.63%), Switzerland's SMI (+0.22%), and France's CAC 40 (+0.07%). • The growth was driven by expansion in the industrial and services sectors, alongside firm pricing for precious metals.

UK watchdog gives King & King severe reprimand for failing ‘to identify clear self-interest’ when conducting auditsBusiness live – latest updatesThe UK’s accounting watchdog has fined and temporarily banned a tiny audit firm for “egregious” failures and “widespread deficiencies” linked to its work in signing off accounts of several companies in Sanjeev Gupta’s metals empire.King & King and its managing partner Milankumar Patel have been fined a total of £378,184, received a “severe reprimand”, and hit with serious restrictions on audit work after a four-year investigation by the Financial Reporting Council (FRC). Continue reading...

• Corporate India concluded FY26 with strong earnings growth, characterized by double-digit gains in Profit After Tax (PAT), sales, and EBITDA according to a report by Motilal Oswal. • The growth was primarily driven by the financials, metals, and oil marketing companies (OMCs) sectors, with mid-cap companies notably outperforming larger entities. • This trend is significant as it indicates broad-based resilience across key industrial sectors and suggests a positive trajectory for Nifty-50 earnings.

A federal judge also warned White House to tread carefully as it moves ahead with plans to revamp DC golf courseA federal judge weighed into a dispute over Donald Trump’s controversial plans to revamp a historic Washington DC golf course on Monday, warning the president’s administration to tread carefully as it also dumped “toxic” rubble from the demolished White House East Wing there.District court judge Ana Reyes likened the saga to an episode of the hit television comedy Parks and Recreation during an emergency hearing in the capital to hear an application for a temporary restraining order filed by the DC Preservation League. Continue reading...

Shipments to Russian smelters from Aughinish Alumina have increased sharply since the invasion of UkraineA leading Irish metals refinery is part of an international aluminium supply chain that appears to conclude with shipments to arms producers feeding the Kremlin’s war machine in Ukraine, leaked records and public data suggests.Trading records show that shipments to Russian smelters from Aughinish Alumina, which is located on the Shannon estuary in the west of Ireland and has been owned by the Russian aluminium group Rusal since 2006, have increased sharply since the invasion of Ukraine in 2022. Continue reading...