2026-02-09 12:49
NEW DELHI, Feb 9 (Reuters) - India plans to maintain multiple sources of energy supply and diversify them when needed as New Delhi looks to ensure consumers receive "adequate energy at the right price through reliable and secure supplies", Indian Foreign Secretary Vikram Misri said on Monday. Sign up here. https://www.reuters.com/business/energy/india-says-it-will-maintain-multiple-sources-energy-supply-2026-02-09/
2026-02-09 12:36
SAO PAULO, Feb 9 (Reuters) - Brazilian lender BTG Pactual reported what it said were its strongest results on record on Monday, citing solid performance in both the quarter and the full year. Latin America's largest investment bank said adjusted net income rose 40.3% in the fourth quarter from a year earlier to 4.6 billion reais ($881.95 million), broadly in line with the 4.56 billion reais forecast in an LSEG poll. Sign up here. "2025 marked a year of strong execution and consistent delivery, reinforcing our confidence in the resilience of our diversified, all-weather business model," BTG Pactual said in its report. Total revenue came in at a record 9.09 billion reais in the October-December period, a 35.1% year-on-year increase, BTG said. The figures also exceeded the 8.9 billion reais forecast by the poll. Adjusted return on average equity, a gauge of profitability, stood at 27.6% in the quarter, up from 23% a year earlier. JPMorgan analysts said it had been a "stellar year" for BTG, but they expect a neutral share reaction given the in-line performance. ($1 = 5.2157 reais) https://www.reuters.com/business/finance/brazils-btg-pactual-posts-strong-result-with-q4-profit-up-40-2026-02-09/
2026-02-09 12:34
Underlying physical fundamentals are firm, analyst says Indium demand gets boost from clean-energy tech adoption Metal trades in Rotterdam at $500-$600/kg Feb 9 (Reuters) - Indium, used in touch screens, advanced semiconductors and new solar technologies, has hit its highest prices in over a decade in Western markets, driven by speculative activity on a Chinese exchange and tightening supply, market sources say. The jump is drawing fresh attention to a niche but strategically important market dominated by Asian producers. Sign up here. Traders and market experts say indium is trading in Rotterdam around $500-$600 per kg, the highest level since early 2015. Since September, prices are up more than 55%. Huge speculation from Chinese investors on expectations of tighter supply and stronger demand has driven the interest in indium futures on the Zhonglianjin exchange, three market sources said. Supplies from key producers China and South Korea have been falling. In China, which accounted for about 70% of global refined indium production in 2024, according to the United States Geological Survey, customs data show unwrought indium exports down more than 23% in a month in December to 22.72 metric tons. South Korea made up roughly 17% of last year's global output of 1,080 tons. CHINA CONTROLS MOST INDIUM OUTPUT "The tight supply of crude indium is a long-standing structural issue, exacerbated by China's increasingly stringent environmental protection policies," said Cristina Belda, senior analyst at Argus. Indium is recovered mainly as a byproduct of zinc processing, and extracted from smelter residues rather than primary mining. "Considering the extraction of zinc, China controls most of its processing. In the coming years, a steady increase in (indium) prices is expected, because supply is inelastic," said Julia Khandoshko, CEO at the European broker Mind Money. "It is a critical raw material whose consumption is only increasing and supply is not keeping pace." South Korea has also been unable to provide material on the spot market recently, two market sources said. Korea Zinc (010130.KS) , opens new tab, one of the world's largest indium producers, said in an email that it sells 90–100 metric tons of indium a year. It said exports had not been affected by any specific or unusual factors, and that 2026 volumes were likely to remain broadly in line with historical levels. Indium demand is being supported by emerging clean-energy technologies, notably for use in indium tin oxide-based high-efficiency solar cells and advanced chips, market sources said. Argus's Belda noted that prices remained below their 2010 peaks, which had prompted intensive research into alternatives, and said prices would have to remain high for some time for substitution to emerge. LSEG data put those peaks at $750-$800. The U.S. Defense Logistics Agency published a solicitation on January 15 seeking up to $125 million worth of high-purity indium ingots for defence needs. https://www.reuters.com/business/energy/indium-hits-highest-prices-decade-chinese-speculation-supply-risks-2026-02-09/
2026-02-09 12:30
Tengiz output has recovered to about 550,000 bpd, sources say Full recovery expected by February 23 Kazakhstan's overall oil production on the rise January fires at power facilities caused prolonged shutdown Kazakhstan's oil exports declined due to Tengiz outage MOSCOW, Feb 9 (Reuters) - The giant Chevron-led (CVX.N) , opens new tab Tengiz field in Kazakhstan has recovered to around 60% of peak production and aims to reach full output by February 23, two industry sources told Reuters on Monday. This has led to an overall increase of oil and gas condensate production in Kazakhstan, the world's 12th largest oil producer, to 1.6 million barrels per day in the week February 1-8, from 1.27 million bpd on average in January. Sign up here. Tengiz, which accounts for around 40% of Kazakhstan's total oil output, was shut for much of last month after fires hit its power facilities on January 18. Kazakhstan is investigating the incidents. U.S. oil major Chevron leads the Tengizchevroil (TCO) consortium that operates the largest of Kazakhstan's oilfields, which is located on the northeastern shores of the Caspian Sea. The sources familiar with production data said Tengiz produced around 70,000 metric tons, or 550,000 barrels, of oil on February 8. The sources, who declined to be named because they were not authorised to speak to the press, said the field is seen reaching its peak levels of daily production of 120,000 tons, or some 950,000 bpd, by February 23. TCO and Kazakhstan's energy ministry did not immediately reply to a request for comment. A steep reduction in output at Tengiz has contributed to a fall in Kazakhstan's oil exports, especially via its main exporting gateway, the Caspian Pipeline Consortium (CPC), which crosses into Russia en route to the Black Sea. The industry sources said CPC oil exports could drop from the preliminary schedule of about 1.7 million barrels per day (bpd) to around 1.1 million bpd this month. January CPC Blend oil loadings fell to just 880,000 bpd, nearly half of the initial plan, the sources have said. https://www.reuters.com/business/energy/chevrons-tengiz-oilfield-back-60-usual-output-two-sources-say-2026-02-09/
2026-02-09 12:14
JAKARTA, Feb 9 (Reuters) - Indonesia has identified eight mining blocks with large potential for rare earth elements and plans to launch two research projects to develop rare earth processing technology, the head of a government mineral industry agency said on Monday. Indonesia, an archipelago and the largest economy of Southeast Asia, has large reserves of a number of critical minerals as well as deposits of rare earth elements. Rare earths are a group of 17 elements including 15 silvery-white metals used to make magnets - which in turn power motion for electric vehicles, cell phones and missile systems. Sign up here. The archipelago is also the world's largest producer of nickel products as well as the biggest exporter of tin. Mineral Industry Agency Chair Brian Yuliarto said that the eight mining blocks with significant potential for rare earth elements and other strategic minerals were identified in places such as Kalimantan, Sulawesi and Bangka Belitung islands. "Apart from rare earths, some of these blocks also contain several other minerals, namely tungsten, tantalum and antimony, which play a very large role in the defence industry," Yuliarto told members of parliament. The blocks will be mined by the new state-owned miner Perminas, he added. Yuliarto declined to give details on the estimated reserves for the minerals but said they had "promising enough" reserves to compete with other countries. He said his agency planned to launch the two research projects "in the near future" in Mamuju, West Sulawesi in the centre of Indonesia, adding that the research projects will be done in parallel with preparations for mining exploration of the rare earth elements. https://www.reuters.com/world/asia-pacific/indonesia-identifies-eight-blocks-with-large-rare-earth-reserve-potential-2026-02-09/
2026-02-09 11:56
Feb 9 - What matters in U.S. and global markets today By Mike Dolan , opens new tab, Editor-At-Large, Finance and Markets Sign up here. Asian stocks climbed on Monday after Japanese Prime Minister Sanae Takaichi’s thumping election win on Sunday left her poised to enact a raft of expansionary fiscal measures. Wall Street futures held steady after a sharp chipmaker-led rebound on Friday. Attention now shifts to a barrage of U.S. economic data set for release this week. I’ll get into that and more below. But first, listen to the latest episode of the Morning Bid daily podcast. Subscribe to hear Reuters journalists discuss the biggest news in markets and finance seven days a week. TOKYO TAKES OFF Asia shares were up on Monday after the Japanese prime minister’s Liberal Democratic Party secured more than two-thirds of seats in the parliament’s lower house. Takaichi’s mandate for more spending and tax cuts helped the Nikkei jump nearly 4% to reach a new all-time high. The yen and Japanese government bonds were broadly stable on Monday. That’s potentially because these markets had already priced in the known – Takaichi’s lavish fiscal agenda. Investors are now waiting to learn more about the unknown – how she will fund it. The yen has also been supported by expectations that the government will directly intervene in foreign exchange markets if the currency weakens toward the all-important 160 per dollar level. Elsewhere, Wall Street futures were steady on Monday after Friday’s decisive rebound, which took the S&P 500 and Nasdaq around 2% higher. Chipmakers powered the rebound, with Nvidia, AMD and Broadcom all jumping by more than 7%, while software and data services companies – battered by AI fears earlier in the week – recouped some losses. For now, though, chipmakers’ gain may be AI hyperscalers’ loss amid continued trepidation about the latter’s sky-high spending plans. Amazon, for instance, dropped 5.6% on Friday after announcing plans for a more than 50% rise in capex in 2026. Meantime, investors also appeared to be rotating out of pricey mega-caps and into cheaper, smaller companies. While the S&P 500 and Nasdaq both rallied around 2% on Friday, the broader Russell 2000 index posted a 3.5% gain. Overall, the mood music appears brighter than it was in the middle of last week, with Wall Street’s so-called fear gauge, the VIX, slipping for the first time in three days on Friday. In commodities, gold and silver both firmed on Monday after strong Friday rebounds. Looking forward, the major fixture of the week is likely to be the raft of U.S. economic data slated for release, including January’s delayed employment report. Investors will also parse retail sales and CPI for signs the economy is soft enough to keep alive bets for a mid-year rate cut. Chart of the day Japan's Nikkei gained nearly 4% on Monday to surpass the 56,000 level for the first time, as the decisive majority for the ruling LDP party cleared the way for more spending and tax cuts. Today's events to watch * U.S. 3-month and 6-month bill auctions * Fed Governor Christopher Waller, Fed Governor Stephen Miran and Atlanta Fed President Raphael Bostic all speak Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. You can find ROI on the Reuters website , opens new tab, and you can follow us on LinkedIn , opens new tab and X. , opens new tab Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles , opens new tab, is committed to integrity, independence, and freedom from bias. https://www.reuters.com/business/finance/global-markets-view-usa-2026-02-09/
