Copper
SMI Reclaims Gains Before ECB, Copper Retreats From Record, Oil Holds Above $100
Swiss blue chips reversed morning losses ahead of an almost certain 25-basis-point ECB rate hike, while copper fell 2.2% from a record and Brent crude stayed above $100 on Middle East risk.
Novartis trial miss drags Swiss SMI lower; Nestlé, Ascom gain
Novartis shares fell nearly 10% after Del-desiran missed a Phase III endpoint, pulling the SMI lower while Nestlé, Sandoz and Ascom gained and Brent approached $100.
Novartis Plunges After Failed Muscle-Disease Trial; SMI Slides 1.3%
Novartis tumbled nearly 10% after its del-desiran candidate missed a Phase III primary endpoint, erasing roughly CHF 24 billion in market value and pulling the SMI lower. Nestlé and Roche helped stem the damage.
Swiss SMI opens lower as Novartis slides over 10% on trial setbacks; Nestlé leads gains
Novartis shares fell more than 10% to CHF 112.54 after missing primary endpoints in two late‑stage studies, dragging the SMI down 1.4%. Nestlé rose 2% while copper hit a record $14,533 a tonne.
Copper Hits Record as Novartis Drops on Study Miss; SMI Expected Lower
Copper surged to an all-time high above $14,500 a tonne on supply fears, while Novartis sank 5.2% pre-market after a failed muscle-disease study. The SMI was expected to open down.
Industrial metals outlook: Copper, aluminum and steel forecasts through 2026
J.P. Morgan projects copper at $14,800/mt by Q4 2025, while aluminum targets $3,800/mt in Q3 2026 amid Middle East supply risks. Steel prices diverge by region due to tariffs and China’s property slump.
Jefferies flags metals breakout risk on currency debasement concerns
Analysts initiate buy ratings on Canadian miners as fiscal deficits and currency risks drive early moves in gold and crypto. Copper and industrial metals seen as next in line.
Largo shares rise 3.8% after $82.2m debt restructuring extends maturity to 2030
Largo Inc. secures debt extension to March 2030, providing operational runway as it ramps up vanadium and by-product sales. Shares advance 3.8% in after-hours trading.
Chile’s GDP flat in Q2, copper drags as mining sector weighs
Chile’s economy stagnated in the second quarter, missing forecasts for a 0.3% rebound as copper output fell. Annual GDP contracted 0.2%, reversing expectations for modest growth.
Viscaria copper project financing nears completion for Q2 2026
Swedish miner advances funding talks for its Q2 2026 copper project, with completion expected ahead of production start.
Viscaria copper project secures $5B financing as Q2 2026 slides advance
Swedish copper project advances toward Q2 2026 production target with $5 billion financing nearing completion. Updated slides highlight technical and financial milestones.
China's Copper Output Expected to Fall Amid Raw Material Shortage
China's refined copper production is reportedly projected to decline for a second consecutive month as smelters face tightening supplies of raw materials, according to market reports.