International News 29 January 2026
-
Base Metals Rally as Weak U.S. Dollar and Speculative Flows Lift Prices
Industrial metal prices strengthened on Wednesday, with copper rising and aluminium and zinc jumping to multi-year highs, driven by a weaker U.S. dollar and strong speculative inflows. On the London Metal Exchange (LME), three-month copper gained 0.6% to US$13,087 per metric ton, aluminium surged 1.7% to US$3,261 per ton—its highest level since April 2022—while zinc climbed 1.2% to US$3,392 per ton, the strongest since January 2023. The U.S. dollar index fell to its lowest level since February 2022, making dollar-denominated metals cheaper for non-U.S. buyers and boosting demand. Analysts noted that the rally is largely macro-driven rather than supported by near-term supply-demand fundamentals. Cash copper traded at a discount of around US$90 per ton to the three-month contract, signaling weak immediate demand, while China’s Yangshan copper premium dropped to an 18-month low of US$20 per ton. Sucden Financial highlighted that speculative behavior seen previously in precious metals has now spread to base metals. Meanwhile, aluminium prices also benefited from Goldman Sachs’ upward revision of its first-half average price forecast to US$3,150 per ton, citing low global inventories, power supply uncertainty for new smelters in Indonesia, and strong demand from electric vehicle and power grid sectors.
MSCI Posts Higher Q4 2025 Profit on Strong Demand for Index and Risk Analytics
MSCI Inc reported higher earnings in the fourth quarter of 2025, supported by robust client spending that boosted demand for its index products and risk analytics services. Heightened market volatility driven by U.S. tariffs, geopolitical tensions, and macroeconomic uncertainty pushed investors to rely more heavily on MSCI’s benchmarks and analytical tools to rebalance portfolios. MSCI equity indices serve as benchmarks for trillions of dollars managed by mutual funds, pension funds, and global asset managers, making the company a key bellwether for demand in index-based and data-driven investment strategies. For the quarter ended December 31, 2025, MSCI posted adjusted earnings of US$4.66 per share, up from US$4.18 a year earlier, marking its 11th consecutive year of double-digit adjusted EPS growth. Asset-based fees in the index segment surged 20.7% to US$211.7 million, driven by higher average assets under management linked to MSCI indices, lifting total operating revenue by 10.6% to US$822.5 million. Operating expenses rose 6.1%, mainly due to higher employee compensation and continued investment in information technology.
Starbucks Beats Q1 Expectations as U.S. Demand Shows Signs of Recovery
Starbucks Corp reported stronger-than-expected global comparable sales growth in the first quarter, signaling early progress in the turnaround strategy led by CEO Brian Niccol. Global comparable sales rose 4%, well above analysts’ estimates of 2.25%, driven by improving demand in the United States. The results lifted Starbucks shares about 5% in premarket trading, supported further by the company’s decision to reinstate full-year guidance ahead of its first investor day under Niccol’s leadership. In North America, comparable sales also increased 4%, marking the first growth in nearly two years as Starbucks streamlined its menu, cutting nearly 30% of U.S. product variants by the end of 2025 to refocus on core offerings like lattes. The company also closed underperforming stores and reduced back-end costs, while customer traffic improved during key promotions such as Red Cup Day and holiday merchandise launches. Looking ahead, Starbucks forecasts global comparable sales growth of at least 3% in fiscal 2026, slightly above market expectations, although its adjusted EPS guidance of US$2.15–US$2.40 remains modestly below analyst estimates.