Shanghai aluminium prices rose on Friday, hovering near a 11-year high, on supply worries in China amid a fresh round of electricity restrictions in major producing province of Yunnan. The most-traded September aluminium contract on the Shanghai Futures Exchange rose 1.6% to 19,890 yuan a tonne by 0542 GMT, heading towards a January 2010-high of 20,530 per tonne.
The Swiss National Bank increased its first half profit to 43.5 billion Swiss francs, it reported on Friday, as buoyant stock markets boosted the value of the central bank's foreign currency investment pile. The SNB posted a profit of 44.5 billion francs from its foreign currency positions, helped by interest and dividend payments from the mountain of bonds and stocks it holds.
The Swiss National Bank increased its first half profit to 43.5 billion Swiss francs, it reported on Friday, as buoyant stock markets boosted the value of the central bank's foreign currency investment pile. The SNB posted a profit of 44.5 billion francs from its foreign currency positions, helped by interest and dividend payments from the mountain of bonds and stocks it holds.
* Silver heads for first weekly gain in four. * SPDR Gold ETF holdings rise 0.6% on Thursday. * Dollar set for its worst week since May. By Eileen Soreng. Gold was set on Friday for its best week in more than two months on renewed signs that the U.S. Federal Reserve might not taper economic support and hike interest rates in the near term.
Here are some of the main factors that may affect Swiss stocks on Friday: CREDIT SUISSE. Ralf Hafner, the chief risk officer, of Credit Suisse's investment bank is to leave in August, the Wall Street Journal reported. UBS. Wells Fargo has recruited an $800 million UBS team amid falling headcount, Barron's reported. GIVAUDAN.
The following are some of the factors that may move German stocks on Friday: DEUTSCHE TELEKOM. T-Mobile US (TMUS) added more monthly-bill-paying phone subscribers than expected during the second quarter, helped by higher demand for 5G-related services and devices driven by remote working and learning trends. FRESENIUS. Second-quarter results due. FRESENIUS MEDICAL CARE. Second-quarter results due. LINDE.
Shanghai aluminium prices rose on Friday, and were set to notch a monthly gain, as power consumption limits imposed in a major Chinese production province sparked supply concerns. The most-traded September aluminium contract on the Shanghai Futures Exchange rose 2.2% to 19,995 yuan a tonne by 0333 GMT, heading towards a January 2010-high of 20,530 per tonne.
- Temperatures dropped across Brazil on Thursday - with rare snowfall overnight in some places - as a polar air mass advanced toward the center-south of the global agricultural powerhouse, threatening coffee, sugarcane and orange crops with frost. Cars, streets and highways were blanketed in ice while people took the opportunity to take pictures and play in the snow, building snowmen.
China's factory activity likely expanded slightly less quickly in July, a Reuters poll showed on Friday, as the industrial sector's impressive recovery slowed on high raw material prices, government policies, seasonal rainfalls and rising COVID cases.
North Korea's economy suffered its biggest contraction in 23 years in 2020 as it was battered by continued U.N. sanctions, COVID-19 lockdown measures and bad weather, South Korea's central bank said on Friday.
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