Latest news with #ChrisBeauchamp
The Advertiser
4 days ago
- Business
- The Advertiser
Stocks dip, oil rallies as Mideast tensions rise
Stocks fell, while oil and gold have risen, as fighting between Israel and Iran entered a fifth day, raising investor concerns over the risk of a broader regional conflict in a week packed with key central bank decisions. US President Donald Trump urged everyone to evacuate Tehran and cut short his visit to the Group of Seven summit in Canada, while a separate report said he had asked for the National Security Council to be prepared in the situation room. S&P 500 futures initially dropped 0.7 per cent before paring some of those losses, while crude prices rose as much as 2.2 per cent to a high of $US74.85 ($A114.45) a barrel, bringing gains in the last week to around 11 per cent. Adding another layer of complexity for investors this week is a raft of central bank meetings, starting with the BOJ and including the Federal Reserve, Bank of England and Swiss National Bank. "Investors are trying to take all this on board. It is very difficult at the moment, I think. And there's an understandable degree of nervousness. Should I really be holding on to these stocks now at these levels?" Chris Beauchamp, chief market analyst at IG, said. "Once the central bank parade is out of the way, then we might get a better sense of where they view things." The heightened uncertainty kept investors flocking to traditional safe-haven assets, as a rise in US Treasuries pushed yields lower across the curve, while gold prices edged up 0.3 per cent. Stocks in Europe sagged, leaving the STOXX 600 down 0.7 per cent on the day and around its lowest in three weeks, while euro zone government bond yields held steady. The major concern for investors with the conflict between Israel and Iran is the potential for it spill over into the broader Middle East, home to a large portion of the world's oil supply. No disruptions to crude supply have been reported yet, although news of a collision between two ships in the Gulf of Oman sent another brief jolt through the oil market overnight. The Bank of Japan, the first major central bank to decide on monetary policy this week, left short-term interest rates unchanged at 0.5 per cent as expected. The central bank said it would slow the pace at which it is unwinding its massive holdings of government bonds to avoid disrupting the market. Weak demand for Japanese government bonds (JGBs) at recent auctions, along with concern about the country's finances, sent longer-dated borrowing costs spiralling to record highs last month. The yen strengthened modestly, leaving the dollar down 0.1 per cent at 144.725, while yields on 10-year bonds rose 2.5 bps to 1.475 per cent, as the BOJ's outlook suggested there would be less support for shorter-dated paper. "The slower pace of bond tapering was what the market had hoped for and it help prevent long-term interest rates from shooting up," Saisuke Sakai, a senior economist at Mizuho Research and Technologies said. Meanwhile, the Federal Reserve is expected to hold rates steady on Wednesday but the focus yet again will be on the path Fed Chair Jerome Powell charts for future rate cuts as policymakers try to navigate Trump's tariff policies and their global impact. Traders are pricing in two cuts by the end of the year. Investors also monitored developments on trade deals with Trump's early July deadline on tariffs fast approaching. Tariff talks between Japan and the United States on the sidelines of the G7 summit fell short of a breakthrough, while a deal with Britain left unresolved the issue of steel and aluminium duties. Gold, which has gained 30 per cent so far this year, was up another 0.1 per cent at $US3,385 ($A5,176) an ounce. Stocks fell, while oil and gold have risen, as fighting between Israel and Iran entered a fifth day, raising investor concerns over the risk of a broader regional conflict in a week packed with key central bank decisions. US President Donald Trump urged everyone to evacuate Tehran and cut short his visit to the Group of Seven summit in Canada, while a separate report said he had asked for the National Security Council to be prepared in the situation room. S&P 500 futures initially dropped 0.7 per cent before paring some of those losses, while crude prices rose as much as 2.2 per cent to a high of $US74.85 ($A114.45) a barrel, bringing gains in the last week to around 11 per cent. Adding another layer of complexity for investors this week is a raft of central bank meetings, starting with the BOJ and including the Federal Reserve, Bank of England and Swiss National Bank. "Investors are trying to take all this on board. It is very difficult at the moment, I think. And there's an understandable degree of nervousness. Should I really be holding on to these stocks now at these levels?" Chris Beauchamp, chief market analyst at IG, said. "Once the central bank parade is out of the way, then we might get a better sense of where they view things." The heightened uncertainty kept investors flocking to traditional safe-haven assets, as a rise in US Treasuries pushed yields lower across the curve, while gold prices edged up 0.3 per cent. Stocks in Europe sagged, leaving the STOXX 600 down 0.7 per cent on the day and around its lowest in three weeks, while euro zone government bond yields held steady. The major concern for investors with the conflict between Israel and Iran is the potential for it spill over into the broader Middle East, home to a large portion of the world's oil supply. No disruptions to crude supply have been reported yet, although news of a collision between two ships in the Gulf of Oman sent another brief jolt through the oil market overnight. The Bank of Japan, the first major central bank to decide on monetary policy this week, left short-term interest rates unchanged at 0.5 per cent as expected. The central bank said it would slow the pace at which it is unwinding its massive holdings of government bonds to avoid disrupting the market. Weak demand for Japanese government bonds (JGBs) at recent auctions, along with concern about the country's finances, sent longer-dated borrowing costs spiralling to record highs last month. The yen strengthened modestly, leaving the dollar down 0.1 per cent at 144.725, while yields on 10-year bonds rose 2.5 bps to 1.475 per cent, as the BOJ's outlook suggested there would be less support for shorter-dated paper. "The slower pace of bond tapering was what the market had hoped for and it help prevent long-term interest rates from shooting up," Saisuke Sakai, a senior economist at Mizuho Research and Technologies said. Meanwhile, the Federal Reserve is expected to hold rates steady on Wednesday but the focus yet again will be on the path Fed Chair Jerome Powell charts for future rate cuts as policymakers try to navigate Trump's tariff policies and their global impact. Traders are pricing in two cuts by the end of the year. Investors also monitored developments on trade deals with Trump's early July deadline on tariffs fast approaching. Tariff talks between Japan and the United States on the sidelines of the G7 summit fell short of a breakthrough, while a deal with Britain left unresolved the issue of steel and aluminium duties. Gold, which has gained 30 per cent so far this year, was up another 0.1 per cent at $US3,385 ($A5,176) an ounce. Stocks fell, while oil and gold have risen, as fighting between Israel and Iran entered a fifth day, raising investor concerns over the risk of a broader regional conflict in a week packed with key central bank decisions. US President Donald Trump urged everyone to evacuate Tehran and cut short his visit to the Group of Seven summit in Canada, while a separate report said he had asked for the National Security Council to be prepared in the situation room. S&P 500 futures initially dropped 0.7 per cent before paring some of those losses, while crude prices rose as much as 2.2 per cent to a high of $US74.85 ($A114.45) a barrel, bringing gains in the last week to around 11 per cent. Adding another layer of complexity for investors this week is a raft of central bank meetings, starting with the BOJ and including the Federal Reserve, Bank of England and Swiss National Bank. "Investors are trying to take all this on board. It is very difficult at the moment, I think. And there's an understandable degree of nervousness. Should I really be holding on to these stocks now at these levels?" Chris Beauchamp, chief market analyst at IG, said. "Once the central bank parade is out of the way, then we might get a better sense of where they view things." The heightened uncertainty kept investors flocking to traditional safe-haven assets, as a rise in US Treasuries pushed yields lower across the curve, while gold prices edged up 0.3 per cent. Stocks in Europe sagged, leaving the STOXX 600 down 0.7 per cent on the day and around its lowest in three weeks, while euro zone government bond yields held steady. The major concern for investors with the conflict between Israel and Iran is the potential for it spill over into the broader Middle East, home to a large portion of the world's oil supply. No disruptions to crude supply have been reported yet, although news of a collision between two ships in the Gulf of Oman sent another brief jolt through the oil market overnight. The Bank of Japan, the first major central bank to decide on monetary policy this week, left short-term interest rates unchanged at 0.5 per cent as expected. The central bank said it would slow the pace at which it is unwinding its massive holdings of government bonds to avoid disrupting the market. Weak demand for Japanese government bonds (JGBs) at recent auctions, along with concern about the country's finances, sent longer-dated borrowing costs spiralling to record highs last month. The yen strengthened modestly, leaving the dollar down 0.1 per cent at 144.725, while yields on 10-year bonds rose 2.5 bps to 1.475 per cent, as the BOJ's outlook suggested there would be less support for shorter-dated paper. "The slower pace of bond tapering was what the market had hoped for and it help prevent long-term interest rates from shooting up," Saisuke Sakai, a senior economist at Mizuho Research and Technologies said. Meanwhile, the Federal Reserve is expected to hold rates steady on Wednesday but the focus yet again will be on the path Fed Chair Jerome Powell charts for future rate cuts as policymakers try to navigate Trump's tariff policies and their global impact. Traders are pricing in two cuts by the end of the year. Investors also monitored developments on trade deals with Trump's early July deadline on tariffs fast approaching. Tariff talks between Japan and the United States on the sidelines of the G7 summit fell short of a breakthrough, while a deal with Britain left unresolved the issue of steel and aluminium duties. Gold, which has gained 30 per cent so far this year, was up another 0.1 per cent at $US3,385 ($A5,176) an ounce. Stocks fell, while oil and gold have risen, as fighting between Israel and Iran entered a fifth day, raising investor concerns over the risk of a broader regional conflict in a week packed with key central bank decisions. US President Donald Trump urged everyone to evacuate Tehran and cut short his visit to the Group of Seven summit in Canada, while a separate report said he had asked for the National Security Council to be prepared in the situation room. S&P 500 futures initially dropped 0.7 per cent before paring some of those losses, while crude prices rose as much as 2.2 per cent to a high of $US74.85 ($A114.45) a barrel, bringing gains in the last week to around 11 per cent. Adding another layer of complexity for investors this week is a raft of central bank meetings, starting with the BOJ and including the Federal Reserve, Bank of England and Swiss National Bank. "Investors are trying to take all this on board. It is very difficult at the moment, I think. And there's an understandable degree of nervousness. Should I really be holding on to these stocks now at these levels?" Chris Beauchamp, chief market analyst at IG, said. "Once the central bank parade is out of the way, then we might get a better sense of where they view things." The heightened uncertainty kept investors flocking to traditional safe-haven assets, as a rise in US Treasuries pushed yields lower across the curve, while gold prices edged up 0.3 per cent. Stocks in Europe sagged, leaving the STOXX 600 down 0.7 per cent on the day and around its lowest in three weeks, while euro zone government bond yields held steady. The major concern for investors with the conflict between Israel and Iran is the potential for it spill over into the broader Middle East, home to a large portion of the world's oil supply. No disruptions to crude supply have been reported yet, although news of a collision between two ships in the Gulf of Oman sent another brief jolt through the oil market overnight. The Bank of Japan, the first major central bank to decide on monetary policy this week, left short-term interest rates unchanged at 0.5 per cent as expected. The central bank said it would slow the pace at which it is unwinding its massive holdings of government bonds to avoid disrupting the market. Weak demand for Japanese government bonds (JGBs) at recent auctions, along with concern about the country's finances, sent longer-dated borrowing costs spiralling to record highs last month. The yen strengthened modestly, leaving the dollar down 0.1 per cent at 144.725, while yields on 10-year bonds rose 2.5 bps to 1.475 per cent, as the BOJ's outlook suggested there would be less support for shorter-dated paper. "The slower pace of bond tapering was what the market had hoped for and it help prevent long-term interest rates from shooting up," Saisuke Sakai, a senior economist at Mizuho Research and Technologies said. Meanwhile, the Federal Reserve is expected to hold rates steady on Wednesday but the focus yet again will be on the path Fed Chair Jerome Powell charts for future rate cuts as policymakers try to navigate Trump's tariff policies and their global impact. Traders are pricing in two cuts by the end of the year. Investors also monitored developments on trade deals with Trump's early July deadline on tariffs fast approaching. Tariff talks between Japan and the United States on the sidelines of the G7 summit fell short of a breakthrough, while a deal with Britain left unresolved the issue of steel and aluminium duties. Gold, which has gained 30 per cent so far this year, was up another 0.1 per cent at $US3,385 ($A5,176) an ounce.
Yahoo
13-06-2025
- Business
- Yahoo
Crisis for Boeing as ‘Safest Airliner' Crashes for First Time
The Boeing 787 Dreamliner that crashed Thursday in India had been plagued with engineering issues—despite being hailed as one of the world's safest commercial aircraft. Having never previously had a fatal accident while transporting more then one billion passengers since entering service in 2011, the jetliner was praised for its safety Monday by air travel website AviationA2Z. It said: 'The aircraft's composite construction provides enhanced durability and fatigue resistance compared to traditional aluminium structures. 'The aircraft features sophisticated health monitoring systems that continuously assess component performance and predict maintenance requirements. This proactive approach to maintenance significantly reduces the likelihood of in-flight failures that could compromise safety.' Yet beneath the hype, the Dreamliner has had a long history of engineering concerns. In January 2013, two lithium‑ion battery fires—one in-flight with ANA and another while parked in Boston—prompted the Federal Aviation Authority (FAA) to ground the entire fleet, the first time that the FAA had grounded an airliner type since 1979. From about 2019, quality‑control alarms began sounding. Gaps and faulty shims—fillers used to plug the gaps—in tail sections prompted grounded aircraft and a temporary halt in deliveries. Then, in April 2024, Boeing engineer Sam Salehpour blew the whistle, claiming the company 'used shortcuts' and flagged issues such as 'drilling holes incorrectly' and forcing components into place—raising fears these defects could degrade structural integrity over time. Boeing disputed the allegations, insisting that the jets were safe. The company did not immediately respond to a request for comment from The Daily Beast. Boeing's shares were down about 7.5 percent at $197.82 in premarket trading. 'It's a knee-jerk reaction (to the incident) and there's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years,' said Chris Beauchamp, analyst at IG Group, quoted by Reuters.
Observer
13-06-2025
- Business
- Observer
Boeing shares fall 8 pc after AI plane crashes
Shares of planemaker Boeing fell 8 per cent in premarket US trading on Thursday after an Air India aircraft with 242 people crashed minutes after taking off from India's western city of Ahmedabad. Aviation tracking site Flightradar24 said the plane was a Boeing 787-8 Dreamliner, one of the most modern passenger aircraft in service. The plane was headed to Gatwick Airport in the UK, Air India said, while police officers said it crashed in a civilian area near the airport, without specifying whether there were any fatalities. It was not immediately clear what caused the crash. Boeing said in a statement it was aware of initial reports and was working to gather more information. The news comes as the planemaker tries to rebuild trust related to safety in its jets and ramp up production under new Chief Executive Officer Kelly Orthberg. Boeing's shares were down about 8 per cent at $196.52 in premarket trading. "It's a knee-jerk reaction (to the incident) and there's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years," said Chris Beauchamp, analyst at IG Group. — Reuters
Business Recorder
12-06-2025
- Business
- Business Recorder
Boeing shares fall 5% after Air India's Dreamliner jet crashes
Boeing's shares fell 5% on Thursday after an Air India 787-8 Dreamliner jet crashed minutes after taking off, posing a major setback for the planemaker as its new CEO looks to rebuild trust following a series of safety and production challenges. All 242 people on board the London-bound plane were killed in the crash in the western city of Ahmedabad, authorities said, in the world's worst aviation disaster in a decade. It was not immediately clear what caused the crash. Boeing said in a statement it was aware of initial reports and was working to gather more information. The fatal crash tarnishes the Dreamliner jet's safety record and muddies CEO Kelly Orthberg efforts to ramp up production as the airplane maker scored a flurry of new orders and hit production targets in May, heading into the Paris airshow. Air India plane with 242 on board crashes at India's Ahmedabad airport The widebody 787 planes, one of the most modern passenger aircraft in service, have never had a fatal crash until the Air India incident. They were grounded in 2013 due to battery issues, but no one was reported injured. Boeing, however, has faced years of scrutiny and delays over its narrowbody 737 MAX jets, which were grounded for years following two fatal crashes. Last year, the U.S. planemaker came under renewed scrutiny after a door plug blew off a 737 MAX 9 mid-flight, prompting a temporary FAA grounding and fresh concerns over quality control. Shares of Spirit AeroSystems, a key supplier, and GE Aerospace, which makes engines for the jet, also fell about 3% each. GE Aerospace said in a post on X that it had activated its emergency response team and would support the investigation, but did not specify if the Air India aircraft was equipped with its engines. The engine maker did not immediately respond to a Reuters request for comment. Boeing shares were trading at $196.75 after falling as much as 8 percent before the opening bell. 'It's a knee jerk reaction (to the incident) and there's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years,' said Chris Beauchamp, analyst at IG Group.
RTÉ News
12-06-2025
- Business
- RTÉ News
Boeing shares fall nearly 8% after Air India plane crashes
Shares of planemaker Boeing fell nearly 8% in premarket US trading today after an Air India aircraft with 242 people crashed minutes after taking off from India's western city of Ahmedabad. India's federal health minister said "many people" were killed in the crash. The plane was headed to Gatwick Airport in the UK, with police officers saying it crashed in a civilian area near the Ahmedabad airport. Aviation tracking site Flightradar24 said the plane was a Boeing 787-8 Dreamliner, one of the most modern passenger aircraft in service. It was not immediately clear what caused the crash. Boeing said in a statement it was aware of initial reports and was working to gather more information. Boeing's 787 is a newer series of jets with a solid safety record and no fatal crashes. While battery issues once grounded the fleet, no injuries were reported. The news comes as the planemaker tries to rebuild trust related to safety in its jets and ramp up production under new chief executive Kelly Orthberg. Boeing's shares were down about 7.5% at $197.82 in premarket trading. "It's a knee jerk reaction (to the incident) and there's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years," said Chris Beauchamp, analyst at IG Group.
