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April 14, 2025

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European stocks climb as tariff relief offers brief breather

4 Mins Read

European stock markets kicked off the week on a positive note Monday, as investors grasped onto a sliver of stability following recent trade turmoil, turning their attention partly towards the upcoming first-quarter earnings season.

A temporary exemption for electronics from new US tariffs provided the primary catalyst for the upward momentum, even as contradictory signals from Washington kept underlying uncertainty firmly in place.

The Stoxx Europe 600 Index reflected the improved sentiment, rising 2.0% by 8:05 a.m. in London.

Technology shares were notable beneficiaries after the White House indicated, via guidance from US Customs and Border Protection issued late Friday, that smartphones, computers, and other electronic components would be spared from the hefty “reciprocal” tariffs announced earlier by President Donald Trump.

This initial move, which imposed levies up to 145% on certain Chinese goods, had threatened significant disruption, particularly for tech giants like Apple (NASDAQ:AAPL) heavily reliant on Chinese supply chains.

Across the continent, major indices followed suit. By 03:05 ET (07:05 GMT), Germany’s DAX index had climbed 2.1%, France’s CAC 40 added 2%, and the UK’s FTSE 100 rose 1.5%.

The broader pan-European Stoxx 600 index also posted gains of 1.4%.

The relief rally suggested investors were speculating, or perhaps hoping, that the intense market backlash following Trump’s initial tariff volleys might temper the administration’s future actions, leading to a less damaging trade conflict overall.

Tariff whiplash: uncertainty remains paramount

However, the sense of calm proved fragile. Over the weekend, President Trump himself muddied the waters, suggesting the electronics exemption was merely temporary.

He indicated plans to announce separate tariffs specifically targeting electronics, potentially including semiconductors, as early as the coming week.

Furthermore, he emphasized that electronics imports from China were not entirely off the hook, stating they remained subject to a separate 20% tariff imposed back in March.

This back-and-forth underscored the persistent lack of clarity surrounding US trade policy.

Shifting focus: ECB meeting looms garge

With a light economic calendar in Europe on Monday, market participants are already looking ahead to a pivotal meeting of the European Central Bank (ECB) later this week.

Policymakers face a complex balancing act, needing to factor in the renewed economic headwinds generated by trade tensions and the recent strengthening of the euro against the dollar.

Analysts at ING suggested the ECB’s perspective has likely evolved since its March gathering, according investing.com.

Back then, optimism was cautiously building, supported by factors like Germany’s fiscal policy shifts and increased European defense spending, with interest rates perceived as nearing a neutral level.

Now, however, “new US tariffs on European goods, coupled with a rising euro and falling energy prices, have raised concerns over growth and disinflation in the near term,” according to ING, potentially prompting a more cautious stance from the central bank.

Corporate currents: tech shines, Holcim plans spin-off

On the corporate front, the tariff news directly benefited European technology stalwarts.

Shares in companies like semiconductor equipment maker ASML (AS:ASML) and software giant SAP (ETR:SAPG) registered strong gains, reacting positively to the temporary reprieve for electronics largely sourced from China.

Separately, Swiss building materials company Holcim (SIX:HOLN) provided an update on its strategic plans, announcing that the anticipated spin-off of its significant North American business is targeted for June.

This move remains subject to shareholder approval at the company’s annual general meeting scheduled for May 14.

Oil market stabilizes amid demand worries

Meanwhile, in the commodities sphere, oil prices found some stability on Monday after enduring recent declines.

The earlier losses were primarily driven by concerns that the escalating trade friction between the US and China – the world’s two largest oil consumers – would inevitably dampen global economic growth and curb demand for fuel.

As of 03:05 ET, Brent crude futures saw a minor dip of 0.1% to $64.67 a barrel, while US West Texas Intermediate (WTI) crude futures also edged down 0.1% to $61.44 a barrel.

Both benchmarks had shed approximately $10 per barrel since the beginning of the month, highlighting the tangible impact of trade war anxieties on energy markets.

The post European stocks climb as tariff relief offers brief breather appeared first on Invezz

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In World news

Top 5 Canadian Silver Stocks of 2025

9 Mins Read

Silver-mining companies and juniors have seen support from a strong silver price in 2025. Since the start of the year, the price of silver has increased by over 11 percent as of April 11, and it reached a year-to-date high of US$34.38 per ounce on March 27.

Silver’s dual function as a monetary and industrial metal offers great upside. Demand from energy transition sectors, especially for use in the production of solar panels, has created tight supply and demand forces.

Demand is already outpacing mine supply, making for a positive situation for silver-producing companies.

So far, aboveground stockpiles have been keeping the price in check, but the expectation is those stocks will be depleted in 2025 or 2026, further restricting the supply side of the market.

How has silver’s price movement benefited Canadian silver stocks on the TSX, TSXV and CSE? The five companies listed below have seen the best performances since the start of the year. Data was gathered using TradingView’s stock screener on February 12, 2025, and all companies listed had market caps over C$10 million at that time.

1. Discovery Silver (TSX:DSV)

Year-to-date gain: 185.92 percent
Market cap: C$848.98 million
Share price: C$2.03

Discovery Silver is a precious metals development company focused on advancing its Cordero silver project in Mexico. Additionally, it is looking to become a gold producer with its recently announced acquisition of the producing Porcupine Complex in Ontario, Canada.

Cordero is located in Mexico’s Chihuahua State and is composed of 26 titled mining concessions covering approximately 35,000 hectares in a prolific silver and gold mining district.

A 2024 feasibility study for the project outlines proven and probable reserves of 327 million metric tons of ore containing 302 million ounces of silver at an average grade of 29 grams per metric ton (g/t) silver, and 840,000 ounces of gold at an average grade of 0.08 g/t gold. The site also hosts significant zinc and lead reserves.

The report also indicated favorable economics for development. At a base case scenario of US$22 per ounce of silver and US$1,600 per ounce of gold, the project has an after-tax net present value of US$1.18 billion, an internal rate of return of 22 percent and a payback period of 5.2 years.

Discovery’s shares gained significantly on January 27, after the company announced it had entered into a deal to acquire the Porcupine Complex in Canada from Newmont (TSX:NGT,NYSE:NEM).

The Porcupine Complex is made up of four mines including two that are already in production: Hoyle Pond and Borden. Additionally, a significant portion of the complex is located in the Timmins Gold Camp, a region known for historic gold production.

Discovery anticipates production of 285,000 ounces of gold annually over the next 10 years and has a mine life of 22 years. Inferred resources at the site point to significant expansion, with 12.49 million ounces of gold, from 254.5 million metric tons of ore with an average grade of 1.53 g/t.

Upon the closing of the transaction, Discovery will pay Newmont US$200 million in cash and US$75 million in common shares, and US$150 million of deferred consideration will be paid in four payments beginning on December 31, 2027.

According to Discovery in its full-year 2024 financial results, the Porcupine acquisition will help support the financing, development and operation of Cordero. Discovery’s share price reached a year-to-date high of C$2.12 on March 31.

2. Almaden Minerals (TSX:AMM)

Year-to-date gain: 136.36 percent
Market cap: C$16.47 million
Share price: C$0.13

Almaden Minerals is a precious metals exploration company working to advance the Ixtaca gold and silver deposit in Puebla, Mexico. According to the company website, the deposit was discovered by Almaden’s team in 2010 and has seen more than 200,000 meters of drilling across 500 holes.

A July 2018 resource estimate shows measured resources of 862,000 ounces of gold and 50.59 million ounces of silver from 43.38 million metric tons of ore, and indicated resources of 1.15 million ounces of gold and 58.87 million ounces of silver from 80.76 million metric tons of ore with a 0.3 g/t cutoff.

In April 2022, Mexico’s Supreme Court of Justice (SCJN) ruled that the initial licenses issued in 2002 and 2003 would be reverted back to application status after the court found there had been insufficient consultation when the licenses were originally assigned.

Ultimately, the applications were denied in February 2023, effectively halting progress on the Ixtaca project. While subsequent court cases have preserved Almaden’s mineral rights, it has yet to restore the licenses to continue work on the project.

In June 2024, Almaden announced it had confirmed up to US$9.5 million in litigation financing that will be used to fund international arbitrations proceedings against Mexico under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

In a December update, the company announced that several milestones had been achieved, including the first session with the tribunal, at which the company was asked to submit memorial documents outlining its legal arguments by March 20, 2025. At that time, the company stated it would vigorously pursue the claim but preferred a constructive resolution with Mexico.

In its most recent update on March 21, the company indicated that it had submitted the requested documents, claiming US$1.06 billion in damages. The memorial document outlines how Mexico breached its obligations and unlawfully expropriated Almaden’s investments without compensation.

Shares in Almaden reached a year-to-date high of C$0.135 on February 24.

3. Avino Silver & Gold Mines (TSX:ASM)

Year-to-date gain: 98.43 percent
Market cap: C$373.48 million
Share price: C$2.52

Avino Silver and Gold Mines is a precious metals miner with two primary silver assets: the producing Avino silver mine and the neighboring La Preciosa project in Durango, Mexico.

The Avino mine is capable of processing 2,500 metric tons of ore per day ore, and according to its FY24 report released on January 21 the mine produced 1.1 million ounces of silver, 7,477 ounces of gold and 6.2 million pounds of copper last year. Overall, the company saw broad production increases with silver rising 19 percent, gold rising 2 percent and copper increasing 17 percent year over year.

In addition to its Avino mining operation, Avino is working to advance its La Preciosa project toward the production stage. The site covers 1,134 hectares, and according to a February 2023 resource estimate, hosts a measured and indicated resource of 98.59 million ounces of silver and 189,190 ounces of gold.

In a January 15 update, Avino announced it had received all necessary permits for mining at La Preciosa and begun underground development at La Preciosa. It is now developing a 350-meter mine access and haulage decline. The company said the first phase at the site is expected to be under C$5 million and will be funded from cash reserves.

The latest update from Avino occurred on March 11, when it announced its 2024 financial results. The company reported record revenue of $24.4 million, up 95 percent compared to 2023. Avino also reduced its costs per silver ounce sold.

Additionally, Avino reported a 19 percent increase in production in 2024, producing 1.11 million ounces of silver compared to 928,643 ounces in 2023. The company’s sales also increased, up by 23 percent to 2.56 million ounces of silver compared to 2.09 million ounces the previous year.

Avino’s share price marked a year-to-date high of C$2.80 on March 27.

4. Highlander Silver (CSE:HSLV)

Year-to-date gain: 90 percent
Market cap: C$160.17 million
Share price: C$1.90

Highlander Silver is an exploration and development company advancing projects in South America.

Its primary focus has been the San Luis silver-gold project, which it acquired in a May 2024 deal from SSR Mining (TSX:SSRM,NASDAQ:SSRM) for US$5 million in upfront cash consideration and up to an additional US$37.5 million if Highlander meets certain production milestones.

The 23,098 hectare property, located in the Ancash department of Peru, hosts a historic measured and indicated mineral resource of 9 million ounces of silver, with an average grade of 578.1 g/t, and 348,000 ounces of gold at an average grade of 22.4 g/t from 484,000 metric tons of ore.

In July 2024, the company said it was commencing field activities at the project; it has not provided results from the program. In its December 2024 management discussion and analysis, the company stated it was undertaking a review of prior exploration plans and targets, adding that it believes there is exceptional growth potential.

Highlander’s most recent news came on March 11, when it announced it had closed an upsized bought deal private placement for gross proceeds of C$32 million. The company said it will use the funding to further exploration activities at San Luis and for general working capital.

Shares in Highlander reached a year-to-date high of C$1.96 on March 31.

5. Santacruz Silver Mining (TSXV:SCZ)

Year-to-date gain: 85.45 percent
Market cap: C$192.16 million
Share price: C$0.51

Santacruz Silver is an Americas-focused silver producer with operations in Bolivia and Mexico. Its producing assets include the Bolivar, Porco and Caballo Blanco Group mines in Bolivia, along with the Zimapan mine in Mexico.

In a production report released on January 30, the company disclosed consolidated silver production of 6.72 million ounces, marking a 4 percent decrease from the 7 million ounces produced in 2023. This decline was primarily attributed to a reduction in average grades across all its mining properties.

In addition to its producing assets, Santacruz also owns the greenfield Soracaya project. This 8,325-hectare land package is located in Potosi, Bolivia. According to an August 2024 technical report, the site hosts an inferred resource of 34.5 million ounces of silver derived from 4.14 million metric tons of ore with an average grade of 260 g/t.

Shares in Santacruz reached a year-to-date high of C$0.59 on March 18.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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In Politics

Navarro brushes off feud with Elon Musk: ‘Boys will be boys’

2 Mins Read

White House trade advisor Peter Navarro brushed off concerns about a feud between him and billionaire Elon Musk, arguing the two administration advisors had a ‘great’ relationship.

‘First of all, Elon and I are great. It’s not an issue,’ Navarro said during an appearance on NBC News’ ‘Meet the Press’ on Sunday.

The comments come after Navarro and Musk got tangled in a public war of words last week after Navarro said in an interview that Musk’s Tesla is more of a ‘car assembler’ than ‘car manufacturer’ that relies on parts from other countries.

‘We all understand in the White House (and the American people understand) that Elon’s a car manufacturer. But he’s not a car manufacturer – He’s a car assembler,’ Navarro said on CNBC. ‘In many cases, if you go to his Texas plant, a good part of the engines that he gets (which in the EV case are the batteries) come from Japan and come from China. The electronics come from Taiwan.’

The point seemingly didn’t sit well with Musk, who took to X to defend his auto company.

‘Navarro is truly a moron. What he says here is demonstrably false,’ Musk said.

‘Tesla has the most American-made cars. Navarro is dumber than a sack of bricks,’ Musk added in a subsequent post.

But Navarro downplayed the public war of words Sunday, praising Musk’s contributions to the Trump administration.

‘Everything’s fine with Elon,’ Navarro said. ‘And look, Elon is doing a very good job with his team, with waste, fraud and abuse. That’s a tremendous contribution to America. And no man doing that kind of thing should be subject to having his cars firebombed by crazies.’

The White House has also downplayed concerns between them, with press secretary Karoline Leavitt arguing the feud shows that President Donald Trump is willing to hear vastly different views at the highest level.

‘These are obviously two individuals who have very different views on trade and tariffs. Boys will be boys, and we will let their public sparring continue,’ she said during a press briefing last week. ‘You guys should all be very grateful that we have the most transparent administration in history.’

This post appeared first on FOX NEWS

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