MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1918 Mon; -1.35% Y/Y

CHINA PRESS: Yuan To Reach 17% Of Global Payments By 2035

MNI: GERMANY NOV IFO BUSINESS CLIMATE INDEX 85.7

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BASIC INDUSTRIES: Week in Review

BASIC INDUSTRIES
BulletCredit Bullets

Iron ore remains volatile, driven by uncertainty over the outlook for China Stimulus. It finishes the week only 2% lower, however. Rio Tinto’s acquisition of Arcadium brought some life back to the beleaguered Lithium subsector.

  • Spreads did a touch better than the overall market. Aliaxis (-25) remains volatile and retraced some of the recent widening.
  • Tornator came to the market with a senior secured deal. The credit profile looks good, albeit a small business dependent on part owner Stora Enso. It got a first time rating of Baa3, benefiting the outstanding 2026 bond.
  • Givaudan released sales figures which continue to show strong growth.

  • Honeywell announced plans to spin off Advanced Materials to shareholders, which could be a $10bn company. This aligns with its stated focus and shouldn’t alter capital allocation plans which include M&A.

130 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Iron ore remains volatile, driven by uncertainty over the outlook for China Stimulus. It finishes the week only 2% lower, however. Rio Tinto’s acquisition of Arcadium brought some life back to the beleaguered Lithium subsector.

  • Spreads did a touch better than the overall market. Aliaxis (-25) remains volatile and retraced some of the recent widening.
  • Tornator came to the market with a senior secured deal. The credit profile looks good, albeit a small business dependent on part owner Stora Enso. It got a first time rating of Baa3, benefiting the outstanding 2026 bond.
  • Givaudan released sales figures which continue to show strong growth.

  • Honeywell announced plans to spin off Advanced Materials to shareholders, which could be a $10bn company. This aligns with its stated focus and shouldn’t alter capital allocation plans which include M&A.