RUSSIA: Russia, Turkey in Talks to Renew Gas Supply Deal
Nov-05 08:20
- Russia and Turkey are in talks to keep up the volumes of gas supplies from Gazprom PJSC as they negotiate the renewal of two major pipeline supply deals, Bloomberg report. The contracts between Russia’s gas giant and Turkey’s state company Botas for combined deliveries of as much as 21.75bn cubic meters a year are set to expire on December 31, and the two nations are negotiating to keep the annual flows at about those levels.
- Kommersant note that new US sanctions against Rosneft and Lukoil did not manage to significantly affect Russia's crude exports in October. Seaborne exports slipped only 1.2% M/M. However, the newspaper add that there might be a more noticeable effect from November 21, the deadline for winding down dealings with the two companies.
- Russian Prime Minister Mikhail Mishustin met with President Xi Jinping on Tuesday during a two-day visit to China. The two countries signed a communique on cooperation on a broad range of issues, including high-tech manufacturing and agriculture. While previously the key issue in public meetings between Russian and Chinese officials has been trade, recently the focus has shifted primarily to industrial cooperation and expanding joint investment, local press note.
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SONIA OPTIONS: Put Spread, Spread
Oct-06 08:20
SFIF6 96.20/96.10ps vs 0NF6 96.30/96.20ps, bought the front for half in 5k.
FRANCE: Lecornu Resigns After Naming Largely Unchanged Government
Oct-06 08:13
French Prime Minister Sébastien Lecornu has presented his resignation to President Emanuel Macron after a broadly unchanged government Lecornu named on Sunday evening was criticised by party leaders from both the right and the left. Bloomberg reports that Lecornu will deliver press remarks in Paris at 10:45 CET, 09:45 BST, 04:45 ET.
- Politico described Lecornu's government as "a sign that the political forces represented in Macron's successive administrations remain broadly the same, despite Lecornu's being the French president's fifth prime minister in less than two years.”
- Lecornu’s resignation comes after a Friday move to rule out using Article 49.3 of the French constitution to pass a budget without a parliamentary vote, and a parallel bid to agree on a ‘non-aggression pact’ between competing parties failed to ease concerns with Socialists.
- Le Monde reports, “Over the weekend, Lecornu sent a letter to the leaders of Macron's centrist camp and LR pleading for unity. "With only a very narrow majority, the government will have to make compromises with other political groups, without abandoning its convictions.”
- Socialist Party leader Olivier Faure said this morning, "The prevailing sentiment is one of dismay ... The reality is that we are witnessing an unprecedented political crisis."
- National Rally President Jordan Bardella said, "There can be no return to stability without a return to the polls and without the dissolution of the Assemblée Nationale,"
- Mathilde Panot of the leftist Insoumise party wrote on X, “we demand the immediate examination of the motion filed by 104 deputies for the impeachment of Emmanuel Macron.”
GOLD: Heading towards $4000.00
Oct-06 08:10
- Despite the Dollar Bid, Gold is still acting as a much better Safer Haven, at a new all time record high, next projection comes at $3987.3 - 2.236 proj of the May 15 - Jun 16 - 30 price swing.
- But the Globe will be fixated on the big Psychological $4000.00 round number.
