Real-time News

EU-GCC Joint Statement: Foreign ministers reaffirmed that GCC member states have the right to take all necessary measures to defend their own security and stability.

EU-GCC Joint Statement: The EU and its member states will continue to work closely with the GCC and make every effort to ensure the safe evacuation of its citizens.

Ukrainian President Zelensky: 200 Ukrainians have been released from Russian custody.

Truss Securities raised its price target for Broadcom (AVGO.O) to $545, up from $510 previously.

JD.com (JD.O) executives: User shopping frequency surged by more than 40% year-on-year throughout the year.

JD.com (JD.O) executives: Thanks to organic user growth in its core retail business and new initiatives such as JD Daojia, active users grew by 30% year-on-year in the fourth quarter.

Gold prices rose on March 5th, approaching the $5,200 per ounce mark, as the ongoing conflict in the Middle East boosted demand for safe-haven assets. New York gold futures rose 0.8% to $5,175.20 per ounce. ING analysts stated, "The inflationary impact of the Middle East conflict, through a significant increase in energy prices, could reinforce market expectations that interest rates will remain high for a longer period, which is a negative factor for non-interest-bearing assets such as gold. However, high geopolitical uncertainty continues to support risk premiums, and despite the challenging interest rate environment, it still helps to solidify the price floor."

Argus Research raised its price target for Broadcom (AVGO.O) to $425, up from $375 previously.

March 5 – The European Council formally adopted the revised European Climate Law on March 5, stipulating that net greenhouse gas emissions must be reduced by 90% from 1990 levels by 2040. The revised regulations will come into effect 20 days after their publication in the Official Journal of the European Union and will apply directly to all EU member states. The European Commission will submit related proposals to implement the binding EU 2040 climate targets.

British Foreign Secretary: There are signs that the crisis in the Middle East will last for weeks, or even months.

The French Army General Staff stated that France has requested that US military resources not be used for operations involving Iran, but only for defending regional allies.

The French Army General Staff has granted temporary approval for US military aircraft to remain temporarily at some French bases.

The French Army General Staff stated that reports of the United States using military resources deployed at French bases in the Middle East are untrue.

March 5th - Due to the Iranian war blocking the Strait of Hormuz, a crucial shipping route, and causing regional oil storage tanks to saturate, Saudi Arabia is diverting millions of barrels of crude oil to ports along the Red Sea coast to help the world's largest oil exporter maintain its supply to global markets. Tanker tracking data shows that five supertankers have already loaded at the western port of Yanbu this month, with exports from that port climbing to three times the average level in February. Data shows that in the first four days of March, five very large crude carriers (VLCCs) departed from Yanbu on Saudi Arabia's Red Sea coast. These vessels can collectively carry approximately 10 million barrels of crude oil.

German Labor Minister: The German government plans to raise pensions by 4.24% starting in July.

March 5th - Ahead of the Persian Gulf conflict, British businesses' inflation and wage expectations were gradually converging towards the Bank of England's targets, but according to the bank's regular survey of chief financial officers, these indicators remain uncomfortably high. The "Policymakers Panel" survey released on Thursday found that respondents' wage growth expectations for the coming year remained unchanged at 3.6%. However, this figure is expected to fall to its lowest level since the survey began in July 2022 next month. Based on the average expectations for the three months to February, the latest reading shows wage growth will slow significantly from the 4.3% real increase over the past year. The expectations for January and February were both 3.5%. Nevertheless, this figure is still higher than the Bank of England's estimate of 3.25%, which it considers consistent with its 2% inflation target. Hiring plans have improved slightly, but have hovered near zero growth for months. Economist Rob Wood said: "Overall, we see little basis to support multiple rate cuts by the Monetary Policy Committee this year. We expect the next rate cut in April, but we maintain our forecast of only one rate cut this year."

March 5th - Analysts at First Abu Dhabi Bank stated in a report that the Gulf Arab region will face some "particularly severe challenges" in the coming week due to escalating regional conflicts, leading to increased scrutiny of regional economic data. They noted, "We recognize that the macroeconomic outlook for the region, if not globally, has become more challenging and uncertain over the past week." The analysts believe that the market will pay extremely close attention to data released from the Gulf Arab region in the coming weeks, compared to previous periods. They stated, "Among the upcoming data releases, we will closely monitor the reserve asset data of Saudi Arabia and Qatar for any apparent signs of intervention or capital outflows."

According to Iran's official news agency IRNA, Iran has launched a new round of missiles at Israel.

Russian officials say Russia and Ukraine will exchange 500 prisoners of war each on March 5 and 6.