European natural-gas prices jumped more than 8% Monday. Supplies of gas, a key heating and power-generation fuel in Europe, are well below their recent average for the time of year, raising concerns stockpiles will run low as cold weather lifts demand. U.S. natural-gas futures rose 1.9% to $4 per million British thermal units.
Gold ticked higher after data Friday showed U.S. consumer prices rose at their fastest pace in 39 years.
The precious metal has long been considered a hedge against inflation and the strong inflation print likely lifts gold's appeal among investors concerned about rising consumer prices.
Copper prices strengthen as investors look ahead to a key meeting of the Fed. The metal, which is often seen as a gauge of global economic health, is ticking higher as central banks across the world are in the process of normalizing monetary policy as global economies recover.
Other base metals also rose Monday, with aluminum up 1%.
EMEA HEADLINES
Credit Suisse Fills Leadership Slots in Post-Archegos Reshuffle
Credit Suisse Group AG rehired Francesco De Ferrari to head its wealth-management arm catering to the world's rich, putting the veteran banker in charge of a broader revamp to make the business bigger and safer.
Credit Suisse made Mr. De Ferrari's appointment Monday and filled other slots created in a broader restructuring announced in November.
CSL in Talks With Vifor Pharma Over Potential Transaction
SYDNEY--Australian biopharmaceutical company CSL Ltd. said it is in talks with Vifor Pharma Ltd. over a potential acquisition of the Switzerland-based pharmaceutical company.
CSL said Monday that there was no certainty of a transaction, or indication of when any transaction would occur. It said it didn't intend to comment further outside of its continuous disclosure obligations.
Air France-KLM Repays $566 Mln of State-Backed Loan, Renegotiates Payment Schedule
Air France-KLM on Monday said that it has repaid 500 million euros ($565.9 million) of a EUR4 billion-euro French-state backed loan.
The airline group said the decision was made following early signs of a recovery in air traffic around the world.
G-7 Officials Warn of 'Massive Consequences' if Russia Invades Ukraine
Foreign ministers from the Group of Seven countries warned of severe consequences if Russia invades Ukraine, in a show of unity that they hope will deter Russian President Vladimir Putin from ratcheting up military pressure on the country and defuse tensions in Eastern Europe.
Following a meeting in Liverpool, England, the ministers from the group of wealthy democracies said in a joint statement that any invasion of Ukraine would have "massive consequences" for Russia. "We call on Russia to de-escalate, pursue diplomatic channels, and abide by its international commitments on transparency of military activities," the G-7 foreign ministers said in a joint statement Sunday.
As U.S. Deals Surge, Britain Increases Scrutiny of Foreign Takeovers
LONDON-Britain is putting foreign takeovers of its businesses under greater scrutiny, complicating a popular route to overseas expansion for American companies as they spend record amounts on U.K. acquisitions.
The U.K. has for decades prided itself as a global champion of open markets but is now emerging as a test case for how the pandemic has reshaped thinking on the need for domestic capabilities in key areas like computer chips and pharmaceuticals.
Austria's Restrictions on the Unvaccinated Appear to Be Working
Austria, one of the worst-hit countries in Europe's latest Covid-19 surge, has seen infections plummet and vaccination rates soar after imposing a lockdown and saying it would make the shots mandatory next year.
The measures, and the steep fall in new cases since they were announced, could offer some options to countries in a region where infections are still rising rapidly or plateauing at a high level.
Volvo Hit by Cyber Theft of Intellectual Property
BERLIN-Volvo Car AB, the Swedish car maker, said Friday that it was investigating a cybersecurity breach targeting systems that store research and development files and warned the hack could have an impact on the company's operations.
Volvo, majority-owned by China's Zhejiang Geely Holding Group, said the data had been stolen from an unnamed third party, which it said had contacted Volvo about the theft.
Costain Group Reiterates 2021 Adjusted Operating Profit Guidance
Costain Group PLC on Monday reiterated that full-year adjusted operating profit is expected to be in line with market expectations and said that year-end net cash will now be ahead of market views at around 100 million pounds ($132.7 million).
The infrastructure company also said the adjudicator in its Peterborough and Huntingdon contract dispute with National Grid found in its favor regarding three of four compensation events and that it will pursue a financial settlement. However, as all of the compensation events weren't decided in its favor, it now expects an overall cash outflow in respect of the contract.
Capita Says 11-Month Revenue Rose, to Make Two Disposals in 2022
Capita PLC said Monday that revenue in the 11 months to Nov. 30 rose and that it will launch another two disposal processes early in 2022.
The London-listed professional-services provider said group revenue rose by 0.6% to 2.88 billion pounds ($3.82 billion), and that including the Secure Solutions and Services and Specialist Insurance disposals, it has achieved GBP620 million toward its target of GBP700 million by the first half of 2022.
GLOBAL NEWS
Inflation Surge Pushes U.S. Real Interest Rates Into More Deeply Negative Territory
This year's inflation surge has had a sometimes overlooked side effect: It means the Federal Reserve's interest-rate policy is providing even more fuel to a hot economy.
Derby's Take: Economists See Fed Penciling In Two 2022 Rate Increases at FOMC Meeting
Economists are factoring in a more hawkish interest rate path for the Federal Reserve and expect its officials to reveal that shift in forecasts planned for release on Wednesday.
Based on comments from a range of Fed officials, economists expect that after the two-day Federal Open Market Committee meeting concludes the central bank will accelerate the pace of its so-called taper, or winding down, of its bond buying asset stimulus, with an eye toward completing it by around March.
Economy Week Ahead: Retail, Factories, Central Banks
The Federal Reserve's two-day policy meeting, which wraps up Wednesday, is the highlight of this week's economic calendar.
Why U.S. Job Gains Are So Hard to Count During Covid-19
The monthly U.S. jobs report moves trillions of dollars in market trades and influences key policy decisions such as the Federal Reserve's interest-rate plans.
But during the Covid-19 pandemic, economists have had an especially hard time predicting the report's headline number of jobs added. Meanwhile, the government itself has routinely made big revisions to its initial estimates.
Lithium Prices Soar, Turbocharged By Electric-Vehicle Demand and Scant Supply
Lithium prices are rising at their fastest pace in years, setting off a race to secure supplies and fueling worries about long-term shortages of a vital ingredient in the rechargeable batteries that power everything from electric vehicles to smartphones.
An index of lithium prices from research firm and price provider Benchmark Mineral Intelligence doubled between May and November and is up some 240% for the year. The index is at its highest level in data going back five years.
Biden Aims to Win Pivotal Democrat's Support for $2 Trillion Spending Plan
WASHINGTON-President Biden this week will lobby Sen. Joe Manchin, the centrist West Virginia Democrat, in an attempt to lock in a deal on a roughly $2 trillion social-policy and climate bill that Democrats hope to finish by Christmas.
Passage hinges largely on the support of Mr. Manchin, who hasn't endorsed the legislation. He has repeatedly raised concerns about the cost of the bill and the potential effect of new government spending on inflation. Messrs. Biden and Manchin plan to talk early this week, a Senate aide said.
SEC Chairman on New Regulations on Cryptocurrencies and Climate Risk
The Securities and Exchange Commission has a lot to tackle.
Pressure is growing for companies to reduce the environmental impact of their businesses, and to be more transparent about what they're doing. But what rules should be put in place, and how should they be enforced? Meanwhile, cryptocurrencies have surged in popularity-but what should be done to protect investors?
G-7 Officials Warn of 'Massive Consequences' if Russia Invades Ukraine
Foreign ministers from the Group of Seven countries warned of severe consequences if Russia invades Ukraine, in a show of unity that they hope will deter Russian President Vladimir Putin from ratcheting up military pressure on the country and defuse tensions in Eastern Europe.
Following a meeting in Liverpool, England, the ministers from the group of wealthy democracies said in a joint statement that any invasion of Ukraine would have "massive consequences" for Russia. "We call on Russia to de-escalate, pursue diplomatic channels, and abide by its international commitments on transparency of military activities," the G-7 foreign ministers said in a joint statement Sunday.
Australia Steps Up Military Overhaul With Korea Arms Deal
SYDNEY-Australia signed a contract worth about $717 million to buy self-propelled howitzers from South Korea, broadening its military cooperation as it seeks to counter China's influence in the Indo-Pacific region.
(MORE TO FOLLOW) Dow Jones Newswires
12-13-21 0633ET
