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Europe markets open: Stocks rise; BP Q2 profit at $2.35B, beating estimates

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European stock markets started Tuesday’s session on a positive note, with major indices advancing as investors shifted their focus from last week’s tariff updates to a busy calendar of corporate earnings.

A stronger-than-expected profit report from oil giant BP provided a significant boost to market sentiment, helping the regional Stoxx 600 index extend its recent gains.

After a relatively quiet day for European earnings on Monday, the calendar is packed today. In early trading, the pan-European Stoxx 600 index was last seen up 0.4%, with all major national bourses in the green.

A key driver of this positive sentiment was British energy major BP, whose shares were up 2% after the company exceeded second-quarter profit expectations. BP reported an underlying replacement cost profit, which is used as a proxy for net profit, of $2.35 billion for the three months through June.

This figure comfortably beat the $1.81 billion that analysts had expected, according to an LSEG-compiled consensus.

The strong results come as BP continues its efforts to rebuild investor confidence following a protracted period of underperformance relative to its industry peers, and after a period of heightened volatility for global oil and gas prices.

Other major European companies have also reported their latest financials this morning:

  • Staffing firm Adecco Group posted better-than-expected second-quarter operating income, which was up 6% to 115 million euros ($132.8 million). The company also stated that it expected its profitability to improve in the second half of the year.
  • French satellite operator Eutelsat also beat expectations with revenue growth of 1.6% to 1.24 billion euros. This was driven by growing interest in its satellite internet services from government and corporate customers. However, the company’s operating losses widened to 909 million euros from 310 million euros.
  • Germany’s Fresenius Medical Care fell short of market estimates with an adjusted operating income of 476 million euros. The company cited higher-than-expected patient outflows amid “elevated” mortality and missed treatments. Despite this, the firm confirmed its full-year guidance after both its sales and profit rose.

Investors are also awaiting results from fashion house Hugo Boss later in the day.

The lingering shadow of tariffs

Despite the positive start to the day, investors are still keeping a close eye on the latest trade developments.

On Tuesday, their focus will be on the fallout from US President Donald Trump’s announcement of plans to significantly raise tariffs on Indian exports to the United States.

“India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits,” Trump wrote on the social media platform Truth Social, explaining his rationale.

India has responded by saying it was being “targeted” by both the US and the European Union over its imports of Russian oil. Indian markets slipped at the open on Tuesday as investors monitored these trade developments.

Elsewhere in the Asia-Pacific region, markets traded broadly higher.

US markets provide a positive backdrop

The upbeat mood in Europe on Tuesday is also being supported by a rebound on Wall Street in the previous session.

US stock futures were slightly higher on Monday night, following a positive day for US markets as investors there also followed the latest batch of corporate earnings.

The post Europe markets open: Stocks rise; BP Q2 profit at $2.35B, beating estimates appeared first on Invezz

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In Business

Columbia Sportswear sues Columbia University, alleging trademark infringement

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For decades, T-shirts, sweatshirts and other clothing under the Columbia Sportswear brand and clothing emblazoned with the Columbia University name coexisted more or less peacefully without confusion.

But now, the Portland-based outdoor retailer has sued the New York-based university over alleged trademark infringement and a breach of contract, among other charges. It claims that the university’s merchandise looks too similar to what’s being sold at more than 800 retail locations including more than 150 of its branded stores as well as its website and third-party marketplaces.

In a lawsuit filed July 23 in the U.S. District Court for the District of Oregon, Columbia Sportswear, whose roots date back to 1938, alleges that the university intentionally violated an agreement the parties signed on June 13, 2023. That agreement dictated how the university could use the word “Columbia” on its own apparel.

As part of the pact, the university could feature “Columbia” on its merchandise provided that the name included a recognizable school insignia or its mascot, the word “university,” the name of the academic department or the founding year of the university — 1754 — or a combination.

But Columbia Sportswear alleges the university breached the agreement a little more than a year later, with the company noticing several garments without any of the school logos being sold at the Columbia University online store.

Many of the garments feature a bright blue color that is “confusingly similar” to the blue color that has long been associated with Columbia Sportswear, the suit alleged.

The lawsuit offered photos of some of the Columbia University items that say only Columbia.

“The likelihood of deception, confusion, and mistake engendered by the university’s misappropriation and misuse of the Columbia name is causing irreparable harm to the brand and goodwill symbolized by Columbia Sportswear’s registered mark Columbia and the reputation for quality it embodies,” the lawsuit alleged.

The lawsuit comes at a time when Columbia University has been threatened with the potential loss of billions of dollars in government support.

Last week, Columbia University reached a deal with the Trump administration to pay more than $220 million to the federal government to restore federal research money that was canceled in the name of combating antisemitism on campus.

Under the agreement, the Ivy League school will pay a $200 million settlement over three years, the university said.

Columbia Sportswear aims to stop all sales of clothing that violate the agreement, recall any products already sold and donate any remaining merchandise to charity. Columbia Sportswear is also seeking three times the amount of actual damages determined by a jury.

Neither Columbia Sportswear or Columbia University couldn’t be immediately reached for comment.

This post appeared first on NBC NEWS

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In Politics

DOJ launching grand jury investigation into Russiagate conspiracy allegations: sources

3 Mins Read

Attorney General Pam Bondi directed her staff Monday to act on the criminal referral from Director of National Intelligence Tulsi Gabbard related to the alleged conspiracy to tie President Donald Trump to Russia, and the Department of Justice is now opening a grand jury investigation into the matter, Fox News Digital has learned.

Bondi ordered an unnamed federal prosecutor to initiate legal proceedings, and the prosecutor is expected to present department evidence to a grand jury to secure a potential indictment, according to a letter from Bondi reviewed by Fox News Digital and a source familiar with the investigation.

A DOJ spokesperson declined to comment on the report of an investigation but said Bondi is taking the referrals from Gabbard ‘very seriously.’ The spokesperson said Bondi believed there is ‘clear cause for deep concern’ and a need for the next steps.

The DOJ confirmed two weeks ago it received a criminal referral from Gabbard. The referral included a memorandum titled ‘Intelligence Community suppression of intelligence showing ‘Russian and criminal actors did not impact’ the 2016 presidential election via cyber-attacks on infrastructure’ and asked that the DOJ open an investigation.

No charges have been brought at this stage against any defendants. A grand jury investigation is needed to secure an indictment against any potential suspects.

The revelation that the DOJ is moving forward with a grand jury probe comes after Gabbard declassified intelligence in July that shed new light on the Obama administration’s allege determination that Russia sought to help Trump in the 2016 election.

Former President Barack Obama and his intelligence officials allegedly promoted a ‘contrived narrative that Russia interfered in the 2016 election to help President Trump win, selling it to the American people as though it were true. It wasn’t,’ Gabbard said during a press briefing of the intelligence.

Among the declassified material was a meeting record revealing how Obama allegedly requested his deputies prepare an intelligence assessment in December 2016, after Trump had won the election, that detailed the ‘tools Moscow used and actions it took to influence the 2016 election.’ 

That intelligence assessment stressed that Russia’s actions did not affect the outcome of the election but rather were intended to sow distrust in the democratic process.

It is unclear who is under investigation and what charges could be in play given statutes of limitations for much of the activity from nearly a decade ago have lapsed.

Former Obama intelligence officials, including John Brennan, James Clapper and James Comey have drawn scrutiny from Trump officials for their involvement in developing intelligence that undermined Trump’s 2016 victory.

This is a developing story. Check back for updates.

This post appeared first on FOX NEWS

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Why are over 3,200 Boeing workers on strike?

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More than 3,200 members of the International Association of Machinists and Aerospace Workers’ District 837 began a strike on Monday after rejecting Boeing’s second contract offer.

These workers assemble key defence aircraft, including the F-15, F/A-18, T-7 trainer, and MQ-25 refuelling drone at facilities in the St. Louis area and Illinois.

Boeing Defense said it was prepared for the work stoppage and would implement a contingency plan relying on non-union labour to continue production.

The company stated that the four-year offer would have raised average wages by 40%, with a 20% general wage hike and a $5,000 ratification bonus.

Additional benefits included better vacation and sick leave policies.

Dan Gillian, Boeing’s vice president and general manager for St. Louis, expressed disappointment at the rejection.

“We’re disappointed our employees in St. Louis rejected an offer that featured 40% average wage growth,” he said.

However, union head Tom Boelling argued that the proposal fell short of reflecting the “skill, dedication, and the critical role” played by workers in national defence.

The proposal was largely similar to the first one rejected last week.

The strike comes even as Boeing expands its defence manufacturing footprint in St. Louis, following its win of the US Air Force’s F-47A jet contract earlier this year.

CEO Ortberg plays down concerns

Boeing CEO Kelly Ortberg sought to play down concerns about the St. Louis strike during a call with analysts on Tuesday, held to discuss the company’s second-quarter earnings.

He pointed to Boeing’s ability to manage a far larger work stoppage last year, when 33,000 District 751 members—who build commercial aircraft in the Pacific Northwest—went on a seven-week strike.

That strike, involving around 30,000 workers, nearly halted production of the 737 MAX, a key commercial program.

In contrast, Ortberg suggested the current labour action by District 837 would be less disruptive.

“I wouldn’t worry too much about the implications of the strike. We’ll manage our way through that,” he said.

The previous strike by District 751 ended with union members approving a four-year contract that included a 38% wage increase.

Flight attendants sue Boeing over Max 9 panel blowout

In a separate development, last week, four Alaska Airlines flight attendants filed lawsuits against Boeing in Seattle’s King County Superior Court.

They are seeking damages for emotional and physical injuries suffered during a mid-air cabin panel blowout aboard a 737 MAX 9 in January last year.

According to their attorney, Tracy Brammeier, the attendants “acted courageously” during the emergency and are now dealing with the long-term aftermath of the traumatic event.

The lawsuits accuse Boeing of negligence, failure to ensure product safety, and lapses in quality control.

“Boeing knew or should have known of the quality control issues present in its production of the 737 MAX line,” the court filings state.

The incident added to Boeing’s ongoing safety and legal troubles and prompted a criminal investigation by the US Justice Department earlier this year, which determined the company had violated a 2021 deferred prosecution agreement.

The post Why are over 3,200 Boeing workers on strike? appeared first on Invezz

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In World news

Tech 5: Tesla and Samsung Strike Deal, Palo Alto to Acquire CyberArk

8 Mins Read

The stock market’s momentum from earlier this week, which saw the S&P 500 (INDEXSP:.INX) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) reach new record highs, came to a halt on Friday (August 1).

Investors were reacting to a series of mixed tech earnings reports. Many were accompanied by cautious forward-looking guidance despite strong top-line numbers. This sentiment was further soured by fresh economic data out of the US showing that while employment remains strong, there are signs inflation is reaccelerating.

The most significant blow, however, came from geopolitical developments that reignited global trade tensions, prompting new fears of retaliatory tariffs and the potential for a renewed surge in inflation.

1. Samsung and Tesla strike deal

Tesla (NASDAQ:TSLA) CEO Elon Musk announced a US$16.5 billion deal with Samsung Electronics (HKEX:2814) that would see the electronics conglomerate produce AI6 semiconductors for the carmaker until 2033.

Production will take place at Samsung’s new fab in Taylor, Texas. The news led to a 6.8 percent rise in Samsung’s shares on Monday (July 28), as well as a 1 percent increase for Tesla. Last week, the carmaker saw its share price decline after reporting a 12 percent drop in revenue, marking its biggest quarterly decline in over 10 years.

Musk called the deal’s strategic importance “hard to overstate’ in a post on X. “Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress. And the fab is conveniently located not far from my house,” Musk added in another post.

“The $16.5B number is just the bare minimum,” he also said. “Actual output is likely to be several times higher.”

2. Bell Canada and Cohere partner on sovereign AI

BCE (TSX:BCE,NYSE:BCE) and Canadian artificial intelligence (AI) company Cohere announced a partnership on Monday that will see them work together to provide AI services to Canadian companies and government agencies.

The deal is focused on sovereign AI, meaning all data will stay within Canada.

“At a critical time for Canada, we’re proud to partner with Cohere to create a sovereign, full-stack AI solution, custom-built to support the Canadian government and business. Working together, we will both transform Canadian businesses through cutting-edge AI capabilities, while ensuring that the data remains secure and within Canada,” said Mirko Bibic, president and CEO of BCE, previously known as Bell Canada Enterprises.

“Our partnership with Bell Canada will provide the Canadian government and enterprises with world-class options for sovereign, security-first AI,’ added Aidan Gomez, co-founder and CEO of privately owned Cohere.

This has the potential to be truly transformative for organizations looking to massively increase their productivity and efficiency without any compromise on data security and privacy.’

Under the terms of the deal, Bell will provide the physical infrastructure, including its national network and data centers. Meanwhile, Cohere will provide its powerful AI models to offer a secure, all-in-one AI solution. This helps Canadian organizations adopt new technology. It also ensures their sensitive information is kept safe at home.

3. Palo Alto Networks to acquire CyberArk

On Wednesday (July 30), Palo Alto Networks (NASDAQ:PANW) announced plans to acquire Israeli AI cybersecurity firm CyberArk Software. The Wall Street Journal had reported on Tuesday (July 29) that they were in talks.

Under the terms of the agreement, CyberArk shareholders will receive US$45 cash and 2.2005 shares of Palo Alto per share of CyberArk. Palo Alto expects the transaction to be immediately accretive to its revenue growth and gross margin, and accretive to free cash flow per share in fiscal year 2028.

In a press release announcing the acquisition, Nikesh Arora, chairman and CEO of Palo Alto, said:

“Our market entry strategy has always been to enter categories at their inflection point, and we believe that moment for Identity Security is now. This strategy has guided our evolution from a next-gen firewall company into a multi-platform cybersecurity leader. Today, the rise of AI and the explosion of machine identities have made it clear that the future of security must be built on the vision that every identity requires the right level of privilege controls, not the ‘IAM fallacy’. CyberArk is the definitive leader in Identity Security with durable, foundational technology that is essential for securing the AI era. Together, we will define the next chapter of cybersecurity.”

Udi Mokady, founder and executive chairman of CyberArk, called the news a ‘profound moment in CyberArk’s journey,’ saying that they combination will accelerate the mission it began more than two decades ago.

Palo Alto Networks performance, July 29 to August 1, 2025.

Chart via Google Finance.

The deal is expected to close in the second half of Palo Alto’s 2026 fiscal year, subject to regulatory and CyberArk shareholder approval. Although Palo Alto hit a high of US$210.39 on Tuesday, shares of the company declined by 5 percent following the announcement and closed 17.83 percent below Tuesday’s high.

4. Microsoft, Meta, Amazon and Apple report quarterly results

Microsoft (NASDAQ:MSFT) ended its fourth fiscal quarter of 2025 with record revenue, driven by strong AI and cloud service growth. Microsoft Cloud revenue exceeded US$168 billion, a 23 percent increase, and Intelligent Cloud, including Azure, grew 26 percent to US$29.9 billion, with Azure up 39 percent. Although significant AI investments (over 100 million monthly Copilot users) caused a slight gross margin dip, the firm’s operating income rose 23 percent.

CEO Satya Nadella expressed confidence in long-term growth. For her part, CFO Amy Hood noted that commercial bookings surpassed US$100 billion; she anticipates double-digit revenue and operating income growth in the 2026 fiscal year, though data center capacity may remain constrained through the first half of the period.

Meta Platforms (NASDAQ:META) also had a positive Q2, with revenue up 22 percent to US$47.52 billion and net income up 36 percent to US$18.34 billion. Earnings per share rose 38 percent to US$7.14.

CEO Mark Zuckerberg highlighted the company’s focus on “personal superintelligence.”

The Family of Apps saw daily active people increase 6 percent to 3.48 billion, and advertising revenue grew with impressions up 11 percent and average price per ad up 9 percent.

Q3 revenue is projected to be US$47.5 billion to US$50.5 billion. However, regulatory challenges in the EU could impact European revenue. Meta is also heavily investing in AI and infrastructure, with 2025 capital expenditures narrowed to US$66 billion to US$72 billion, and similar growth expected in 2026.

Microsoft, Apple, Meta Platforms and Amazon performance, July 29 to August 1, 2025. 

Chart via Google Finance.

Amazon (NASDAQ:AMZN) delivered a strong second quarter, with overall net sales growing 13 percent year-on-year to $167.7 billion. The company’s net income also saw a significant increase, rising 35 percent year-on-year to $18.16 billion.

The growth was fueled by strong performance across all three of its major segments. The North America segment, which accounted for 60 percent of total net sales, saw a revenue increase of 11 percent year-on-year to $100.07 billion.

The International segment saw its net sales grow by 16 percent year-on-year to $36.76 billion, with a particularly notable 448 percent increase in operating income. Amazon Web Services continued its steady performance, with net sales reaching $30.87 billion, up 17 percent year-on-year. Despite its strong revenue growth, the company’s trailing 12 month free cashflow declined by 66 percent year-on-year to $18.18 billion.

Finally, Apple (NASDAQ:AAPL) posted strong results for its third fiscal quarter of 2025, with total net sales increasing to US$94.04 billion, up from US$85.78 billion in the same quarter last year.

The company’s net income rose to US$23.43 billion, an increase from US$21.45 billion year-on-year. This performance translated to earnings per share of US$1.57, up from US$1.40 in the prior year. The growth was primarily driven by its products and services, with the iPhone and Mac categories seeing notable increases in net sales. Apple’s services segment also continued its expansion, with sales rising to US$27.42 billion from US$24.21 billion a year ago.

5. Figma makes public debut

Figma’s highly anticipated initial public offering (IPO) generated significant buzz this week, with its share price and valuation surging dramatically on its first day of trading.

On Monday, Figma increased its IPO price range to US$30 to US$32 a share, up from US$25 to US$28. This new pricing valued the company at up to a US$18.7 billion market cap and a US$17.2 billion enterprise value. According to Bloomberg, people familiar with the matter indicated that the IPO was approaching 40 times oversubscribed.

The company had its first day of trading on the NYSE on Thursday (July 31).

Figma’s shares surged by 250 percent from US$33 to US$115 following a blockbuster IPO, with the company raising US$1.22 billion. Its market cap reached US$67 billion by the end of the market’s close. On Friday, Figma opened at US$134.82 before pulling back alongside other major tech stocks and risk assets to finish the week at US$122. Its debut surge and end-of-day valuation made it one of the largest and most successful tech IPOs in recent memory.

Securities Disclosure: I, Meagen Seatter, 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

Dr. Oz touts investment in Medicaid: ‘I’m trying to save this beautiful program’

2 Mins Read

Centers for Medicare and Medicaid Services (CMS) administrator Dr. Mehmet Oz says the Trump administration plans to invest more than $200 billion ‘more dollars’ into Medicaid following the passage of the ‘One Big Beautiful Bill.’ 

‘I’m trying to save this beautiful program, this noble effort, to help folks, giving them a hand up,’ Oz told CBS’ ‘Face the Nation’ on Sunday.

‘And as you probably gather, if Medicaid isn’t able to take care of the people for whom it was designed, the young children, the dawn of their life, those who are twilight of their lives, the seniors, and those who were disabled living in the shadows, as Hubert Humphrey said, then we’re not satisfying the fundamental obligation of a moral government,’ he continued. 

Oz, the 17th administrator for CMS, said the government wants ‘an appropriate return’ on the Medicaid investment. He addressed the difference in drug costs between the U.S. and Europe, adding that work is being done by the administration in an attempt to bring drug prices down.  

Last week, the Trump administration announced it is launching a new program that will allow Americans to share personal health data and medical records across health systems and apps run by private tech companies, promising that this will make it easier to access health records and monitor wellness.

CMS will be in charge of maintaining the system, and officials have said patients will need to opt in for the sharing of their medical records and data, which will be kept secure.

Those officials said patients will benefit from a system that lets them quickly call up their own records without the hallmark difficulties, such as requiring the use of fax machines to share documents, that have prevented them from doing so in the past.

‘We’re going to have remarkable advances in how consumers can use their own records,’ Oz said during the White House event.

CMS already has troves of information on more than 140 million Americans who enroll in Medicare and Medicaid. Earlier this month, the federal agency agreed to hand over its massive database, including home addresses, to deportation officials.

The Associated Press contributed to this report. 

This post appeared first on FOX NEWS

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In World news

Top 5 Canadian Mining Stocks This Week: Helius Metals Jumps 67 Percent

13 Mins Read

On Thursday (July 31) Statistics Canada released gross domestic product figures for May. The data shows the Canadian economy shrank for the second month in a row, edging down by 0.1 percent.

The decline was headlined by decreases in the resource sector, which posted a 1 percent contraction, led by a 2.1 fall in the mining and quarrying subsector. Oil and gas extraction was also down, recording a drop of 0.8 percent, marking the first back-to-back months of negative growth for the subsector since April and May 2023.

However, the agency reported that advance figures for June show a reversal, with its data indicating a 0.1 percent growth during the month, and flat GDP for the second quarter. StatsCan will post its official figures on August 29.

The Bank of Canada held its rate meeting this week, opting to hold its interest rate steady at 2.75 percent, citing resilience in the economy despite the trade dispute with the United States.

The economic news comes against a backdrop of tariff threats from the United States. In July, the White House vowed to increase the tariff rate of non-CUSMA-compliant goods from Canada from the 25 percent imposed earlier in the year to 35 percent if a deal wasn’t negotiated by the August 1 deadline.

On Thursday evening, the night before the deadline, Donald Trump signed an executive order increasing levies on goods entering the US from Canada. While CUSMA-compliant goods are largely exempt, the new tariff rate will have a significant impact on Canada’s auto, steel and softwood lumber industries.

Canada is not alone, as new tariffs rates will be applied on imports from all countries that were part of his original April 2 announcement. Those countries that have successfully negotiated agreements will also pay tariffs, but at a lower rate. However, the US also announced that it won’t begin collecting tariffs on imports until August 7. The delay is intended to allow more time for completing negotiations and for US Customs to adjust to the new policy.

The United States also released a slew of economic news this week, with fresh GDP, inflation and jobs data.

The US Bureau of Economic Analysis (BEA) released its second-quarter advance GDP estimate on Wednesday (July 30). While it shows solid growth of 3 percent after a 0.5 decline in the first quarter, analysts suggest it may be masking underlying weakness in the overall economy.

Decreases in Q1 were mainly due to a rise in imports, which are deducted from GDP calculations, as companies stockpiled goods in anticipation of US tariffs taking effect. However, the second quarter’s increase was due to companies reducing imports and working through their pre-tariff stockpiles.

US GDP is up a modest 1.2 percent since the start of the year, well below the 2.5 percent growth rate in 2024.

On Thursday, the US BEA released its personal consumption expenditures index (PCE) data. The report shows that inflation surged to 2.6 percent in June on an annual basis, above analysts’ expectations of a 2.5 percent rise and up from May’s 2.4 percent. Less the volatile food and energy categories, PCE came in at 2.8 percent, matching numbers from the previous month.

How much tariffs played a role in that increase is uncertain, but the PCE is a critical factor for the Federal Reserve’s decision in setting its benchmark Federal Funds Rate.

The central bank board met for its July meeting on Tuesday (July 29) and Wednesday, and ultimately decided to continue to hold the rate at 4.25 to 4.5 percent. Although it noted there was less uncertainty compared to its last meeting, Powell noted that they were still unsure whether inflation due to tariffs would be a one-time increase or if it would have longer-term implications.

Finally, the US Bureau of Labor Statistics released July’s nonfarm payroll report on Friday (August 1), reporting that an estimated 73,000 jobs were added to the economy in July. While additional government and business reports resulted in significant downward revisions to the initial May and June job estimates, dropping May’s numbers from 144,000 to 19,000 added jobs and June’s from 147,000 to 14,000. The figures indicate a rapid slowdown in employment growth in the United States.

Outside of the pandemic, employment growth in the United States has recorded the slowest start to the year since 2010.

Following the report’s release, Trump fired Bureau of Labor Statistics Commissioner Erika McEntarfer, accusing her without evidence of manipulating job data to make him look worse. The decision has drawn wide-spread criticism and concern that government sources on economic data will no longer be trustworthy.

Markets and commodities react

In Canada, equity markets were negative this week as Canada was unable to secure a deal with the United States. Although it reached a new all-time high Wednesday, the S&P/TSX Composite Index (INDEXTSI:OSPTX) ultimately declined 1.3 percent over the week to close at 27,020.43 on Friday. The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell further, moving down 5.08 percent to 761.21. The CSE Composite Index (CSE:CSECOMP) was the lone gainer, rising 0.76 percent to 134.37.

US equity markets were broadly down on Friday on the new US tariffs and poor job data. The S&P 500 (INDEXSP:INX) fell 2.07 percent to 6,238.00, the Nasdaq 100 (INDEXNASDAQ:NDX) dropped 1.89 percent to 22,763.31 and the Dow Jones Industrial Average (INDEXDJX:.DJI) shed 2.61 percent to 43,588.57.

In precious metals, after falling mid-week, the gold price rebounded sharply on Friday, ultimately ending the week up 0.77 percent to US$3,362.94 by Friday at 4 p.m. EDT. Meanwhile, the silver price dropped dramatically during the week. While it also bounced Friday, it still fell 5.66 percent to US$37.01.

In base metals, copper prices plummeted 23.16 percent to US$4.48 per pound after President Trump announced refined copper exemptions to the 50 percent copper tariff earlier in the week. The S&P GSCI (INDEXSP:SPGSCI) was up mid-week but slumped on Friday, registering a 0.57 percent loss to finish the week at 545.59.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 4 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Helius Minerals (TSXV:HHH)

Weekly gain: 72.94 percent
Market cap: C$48.93 million
Share price: C$1.47

Helius Minerals is a precious metals exploration company with a portfolio of assets in Nevada and Brazil.

The company has spent the first part of the year fundraising in support of the acquisition of Colossus Minerals and its 75 percent stake in the Serra Pelada gold-platinum-palladium project in the Para state of Brazil.

In 2009, Colossus reported significant assay results following its early exploration of the site, with one drill hole returning 8.04 grams per metric ton (g/t) gold, 154.5 g/t platinum and 245.8 g/t palladium.

The company had already completed most of the construction for the underground mine in 2013 when its dewatering measures at the site failed to prevent water ingress in the mine. Colossus was not able to finance the work necessary to fix the issues and became insolvent, putting the mine on care and maintenance.

In 2023, Colossus’ former geologist Christian Grainger was named Helius President and CEO.

On May 8, Helius reported that Colossus shareholders approved the sale of the company and its assets. Under the terms of the deal, Helius said it has a 12 month exclusivity period to conduct financing and also to develop a plan that is compliant with local mining laws and regulations. It also stated that it will need to address outstanding debts and a rehabilitation strategy for the site.

Shares gained this week, but the company has not issued further news.

2. Labrador Gold (TSXV:LAB)

Weekly gain: 58.82 percent
Market cap: C$20.4 million
Share price: C$0.13

Labrador Gold is an explorer focused on the advancement of its assets in Newfoundland and Labrador, and Ontario, Canada.

The company owns the Hopedale gold project in Eastern Labrador. The site hosts 998 claims and five licenses covering an area of 249 square kilometers in the Florence Lake greenstone belt.

In an announcement on February 8, the company reported high-grade gold from 2023 rock samples at the Fire Ant target, with grades of up to 106 g/t gold and 20.4 g/t silver. Additional rock and soil samples from other targets at Hopedale show grades of up to 0.28 percent nickel, 0.97 percent zinc and 3,493 parts per million copper.

Labrador also owns the Borden Lake project near Timmins, Ontario. Exploration at the site has been limited, mainly consisting of till samples and geophysical surveys to target areas for drill testing.

In a news release on February 19, Labrador said it was planning to conduct exploration work at both properties in 2025. On June 19 the company announced that it had mobilized to the Hopedale property and would focus on an area along the Thurber Gold trend at the northern portion of the site. It did not provide an update on exploration at the Borden Lake.

The company has not released news in the past week.

3. Torq Resources (TSXV:TORQ)

Weekly gain: 52.94 percent
Market cap: C$21.37 million
Share price: C$0.13

Torq Resources is an exploration company working to advance its Santa Cecilia gold and copper project in Chile.

Torq acquired the property through an option agreement in October 2021. The company can earn a 100 percent stake in the property if it makes a total of US$25 million before October 21, 2028, and exploration expenditures of US$15.5 million by October 21, 2025.

The deal will also see the original owner retain a 3 percent net smelter return, half of which can be purchased by Torq based on the fair value of the project.

The site covers an area of 3,250 hectares and lies adjacent to the Newmont (TSX:NGT,NYSE:NEM) and Barrick Mining (TSX:ABX,NYSE:B) owned Norte Abierto project, the fourth largest undeveloped gold project in the world.

In late 2024, Torq entered into a joint venture with Gold Fields (NYSE:GFI), in which Gold Fields can earn up to a 75 percent indirect interest in the project through a US$48 million investment over six years, with minimum annual spending of US$6 million.

On July 17, Torq completed the first drill program at the project under the joint venture, The work consisted of five holes covering 4,062 meters and was designed to test the undrilled Gemelos Norte target and to follow up on the Pircas Norte target discovered during the 2024 drill campaign.

Torq’s most recent announcement came on July 31, when it terminated its option to acquire the Margarita project in Chile due to financial constraints and a shift in focus to Santa Cecilia. It also said it would retain its 100 percent interest in the La Cototuda concession, which is surrounded by Margarita and which it believes would be necessary for any future development at Margarita.

4. Happy Creek (TSXV:HPY)

Weekly gain: 41.18 percent
Market cap: C$18.45 million
Share price: C$0.12

Happy Creek Minerals is an explorer focused on advancing a portfolio of assets in British Columbia, Canada.

Its primary focus has been on its Fox tungsten property located in the South Caribou region of the province. It comprises 135.9 square kilometers of mineral tenure and hosts deposits containing tungsten, molybdenum, zinc, indium, gold and silver. In total, 21,125 meters of exploration drilling have been carried out at the site.

The most recent news came on July 16 when Happy Creek announced a non-brokered private placement to raise gross proceeds of up to C$3.25 million in flow-through units at C$0.07 per share and non-flow-through units at C$0.05 per share. The following day, Happy Creek upsized the offering to C$3.75 million.

The company plans to use the gross proceeds for drilling, exploration and development at Fox, as well as other exploration work in the Caribou.

5. Star Copper (TSXV:STCU)

Weekly gain: 38.78 percent
Market cap: C$58.81 million
Share price: C$2.04

Star Copper is an exploration company with a portfolio of assets in British Columbia.

Its flagship Star project, located in BC’s Golden Triangle, consists of 19 mineral claims covering an area of 6,829 hectares of crown lands. The property hosts five high-priority targets, which have seen exploration dating back to 2013.

The most recent exploration update from Star came on Tuesday, when the company provided a summary of its ongoing drill program at the site and said it was halfway through a six-hole, 4,000 meter drill campaign designed to test mineralized zones laterally and at depth.

The company has also been advancing work at its Indata property, where it holds a 60 percent optioned interest. The site in northern BC consists of 16 mineral claims across 3,189 hectares and hosts mineralization of copper, gold and molybdenum.

In a July 10 news release, the company reported that soil grids that were deployed to test for gold and copper have also returned clusters of anomalous antimony that exceed 100 parts per million over 5 kilometers.

Additionally, the company announced on July 16 that it had entered into an agreement to acquire a 100 percent interest in the Copperline property in North-central BC. The project consists of eight mineral claims covering 4,502 hectares and exploration at the site has produced a highlighted assay of 2.54 percent copper, 50.4 g/t silver over 25 meters.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

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

Securities Disclosure: I, Lauren Kelly, 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

Ex-Trump prosecutor Jack Smith under investigation by government watchdog Office of Special Counsel

2 Mins Read

The U.S. Office of Special Counsel (OSC) is investigating former special counsel Jack Smith, the OSC has confirmed to Fox News.

Smith was tapped in 2022 by then-Attorney General Merrick Garland to serve as special counsel regarding two probes pertaining to then-former President Donald Trump.

The OSC is investigating Smith for allegedly violating the Hatch Act, which bars government employees from partaking in political activities. It is not a criminal investigation. 

Fox News Digital reached out to the White House for comment on Saturday, but did not receive a response.

The OSC is not the same as a special counsel appointed by an attorney general, as Smith was, but ‘is an independent federal investigative and prosecutorial agency,’ according to its website. 

‘OSC’s statutory authority comes from four federal laws: the Civil Service Reform Act, the Whistleblower Protection Act, the Hatch Act, and the Uniformed Services Employment & Reemployment Rights Act (USERRA),’ the website explains.

Republican Sen. Tom Cotton of Arkansas recently asked the OSC to look into whether Smith illegally engaged in political activity to influence the 2024 election against Trump.

‘I write requesting the Office of Special Counsel to investigate whether Jack Smith, Special Counsel for Attorney General Merrick Garland, unlawfully took political actions to influence the 2024 election to harm then-candidate President Donald Trump,’ Cotton wrote in a July 30 letter to Acting Special Counsel Jamieson Greer.

‘President Trump of course vanquished Joe Biden, Jack Smith, every Democrat who weaponized the law against him, but President Trump’s astounding victory doesn’t excuse Smith of responsibility for his unlawful election interference. I therefore ask the Office of Special Counsel to investigate whether Jack Smith or any members of his team unlawfully acted for political purposes,’ Cotton wrote.

Fox News’ David Spunt contributed to this report.

This post appeared first on FOX NEWS

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In Stocks

Private equity giants accelerate push into UK pension risk-transfer market

3 Mins Read

Private equity-backed insurers are intensifying their presence in the UK’s booming pension risk-transfer market, securing deals worth $10.7 billion in just the past month.

As British corporations continue to shed defined-benefit pension liabilities to refocus on core business activities, the £1.4 trillion ($1.8 trillion) sector has become a lucrative target for global asset managers such as Brookfield Corp. and Apollo Global Management Inc.

Strategic acquisitions signal growing appetite

Brookfield Wealth Solutions (BWS), led by executive Sachin Shah, has made a bold entry into the market by acquiring London-listed Just Group Plc at a 75% premium.

The firm plans to merge Just with its newly approved UK insurance arm, Blumont, and target up to £50 billion in annual pension buyouts.

This strategy aims to surpass established players like Legal & General Group Plc, which plans to write £65 billion in buyouts by 2028.

Meanwhile, Apollo-backed Athora has acquired Pension Insurance Corp., a significant player previously backed by investors including billionaire Johann Rupert’s investment vehicle, HPS Investment Partners, CVC Capital Partners, and a unit of Abu Dhabi Investment Authority.

Blackstone Inc. has also entered the fray, announcing a partnership with L&G to originate private credit investments tailored for annuities.

These moves come amid projections by consulting firm LCP that demand for pension risk transfers could reach £500 billion by 2033, creating vast opportunities for alternative asset managers seeking recurring fees and new channels for deploying capital in private credit and infrastructure.

Regulatory scrutiny amid growing market risks

Despite investor enthusiasm, UK regulators are expressing concerns over the broader systemic risks associated with the trend.

The Bank of England’s Prudential Regulation Authority (PRA) has warned that the rising practice of reinsuring pension liabilities with overseas or private equity-linked firms may increase financial vulnerability.

In particular, the PRA is monitoring scenarios in which a downturn in PE-backed assets could erode solvency ratios and trigger reinsurance contract terminations, forcing insurers to reabsorb risk and sell assets at depressed prices, a potentially destabilizing “recapture” event.

The concern is further amplified by growing regulatory unease over the suitability of private equity ownership for the life insurance sector, given the long-term nature of insurance liabilities and the relatively short-term investment horizons of PE firms.

The 2023 collapse of Cinven-backed Eurovita, an Italian life insurer, has further fueled scrutiny after it failed to meet solvency requirements during a period of bond market volatility.

The Bank of England is expected to release the results of a stress test later this year to evaluate insurers’ exposure to such risks.

Long-term outlook: beyond pensions

Although the defined-benefit pension space is expected to peak in the next decade, alternative asset managers are eyeing longer-term opportunities in the broader life insurance market.

According to Moody’s Ratings analyst Will Keen-Tomlinson, growth segments such as retail annuities could offer ongoing potential even as corporate pension risk transfers decline.

UK Chancellor Rachel Reeves has publicly welcomed the entry of Brookfield and Athora into the market, calling it a sign of investor confidence in the UK economy.

With the confluence of competitive pressure and increasing regulatory oversight, the market is poised for continued evolution — and potentially more consolidation.

The post Private equity giants accelerate push into UK pension risk-transfer market appeared first on Invezz

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