Orsted Swings to Loss Following U.S. Stop-Work -2-

0920 GMT - Chocolate maker Barry Callebaut delivered a strong rebound in free cash flow for the second half of fiscal 2025, aided by easing cocoa prices, Vontobel's Matteo Lindauer says in a research note. The company generated positive cash flows of 1.8 billion Swiss francs for the second half, having been hit by outflows in recent times. For the year as a whole, its free cash outflow of 312 million francs was significantly better than consensus expectations of an outflow of 1.56 billion francs, the analyst says. Revenue got a boost from substantial price increases that made up for volume declines and this, together with cost savings, lifted earnings, Vontobel says. Shares rise 3.4%. ([e-mail])

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European Gas Price Falls Despite Winter Supply Concerns -- Market Talk

0902 GMT - European natural-gas prices fall in early trading after settling higher in the previous session, buoyed by prospects of lower wind generation and colder temperatures ahead. The benchmark Dutch TTF contract drops 1.9% to 31.93 euros a megawatt hour, but remains up more than 1.5% for the month. According to industry group Gas Infrastructure Europe, EU gas inventories are nearly 83% full, below the five-year average of 92%. "The EU gas balance remains vulnerable this winter, although it's clearly something that the market is not overly concerned about," ING analysts say. "This is evident from the lack of interest from speculators in the European gas market." ([e-mail])

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Gold Rises Ahead of U.S. Jobs Data -- Market Talk

0857 GMT - Gold prices rise in early trading as investors await U.S. private payroll data for cues on the Federal Reserve's next policy move. Futures in New York are up 0.9% to $3,991.60 a troy ounce. "Gold prices rebounded toward $4,000/oz as investors flocked to safe-haven assets after a global stock selloff sparked concerns over stretched equity valuations," says Soojin Kim from MUFG. However, the precious metal remains below the $4,000 mark, pressured by a stronger U.S. dollar and reduced expectations for further interest-rate cuts in December. The medium-term price outlook remains bullish, underpinned by persistent geopolitical uncertainty, strong central bank buying, and sustained private investor demand. ([e-mail])

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Oil Little Changed, With Traders Focused on Supply

0840 GMT - Oil prices are broadly stable in early trade despite a broader markets selloff and pressure from a stronger U.S. dollar. Brent crude and WTI are flat at $64.46 and $60.55 a barrel, respectively. The U.S. dollar index, which measures the greenback against a basket of other major currencies, trades close to a three-month high. "Large parts of the commodities complex came under pressure yesterday as part of a broader risk-off move across global markets," ING analysts say. "Although ICE Brent settled lower on the day, oil performed relatively well compared to other assets." Concerns over excess supply and an uncertain demand picture are weighing on sentiment, though further losses are capped by risks of disruption to Russian oil flows due to Ukrainian strikes and U.S. sanctions. ([e-mail])

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Palm Oil Prices Could Recover Into 1Q on Low Production -- Market Talk

0806 GMT - Crude palm oil prices could recover into 1Q 2026, following recent weakness driven by expectations for higher production, Affin Hwang IB analyst Nadia Aquidah writes in a note. CPO prices have been volatile because of external shocks, Affin Hwang says. However, looking ahead, CPO prices could be supported by the seasonally low production period, the analyst says. Affin Hwang IB expects the average selling price for CPO to average 4,200 ringgit to 4,350 ringgit a ton in 2025 and 4,350 ringgit to 4,450 ringgit a ton in 2026. The Bursa Malaysia Derivatives contract for January delivery is down 34 ringgit at 4,109 ringgit a ton. ([e-mail])

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Iron Ore Drops Amid Weak China Demand -- Market Talk

0314 GMT - Iron ore prices fall amid weak demand in China. China's third-quarter steel demand declined significantly on quarter across property, infrastructure and manufacturing sectors, Galaxy Futures says in a research note. The tepid demand is unlikely to improve in the fourth quarter and will continue to weigh on iron ore's fundamentals, it says. Global iron ore shipment remained high in October, and China's iron-ore inventory is accumulating, it adds. The most-traded iron-ore contract on the Dalian Commodity Exchange is 0.9% lower at CNY771.0 a ton. ([e-mail])

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(END) Dow Jones Newswires

11-05-25 1024ET