Basic Materials Roundup: Market Talk

Germany has announced its support for Greek finance chief Kyriakos Pierrakakis to lead the monthly meetings of euro-area finance ministers, as confirmed by Finance Minister Lars Klingbeil. This endorsement comes amid ongoing discussions about leadership roles within the Eurogroup, which is crucial for economic decision-making in Europe.

Tube fares in London are set to increase by 5.8% in 2026, with most fare hikes being 20p or less. The mayor of London has announced that bus and tram fares will remain unchanged during this period.

Novo Nordisk's shares have faced significant declines following the announcement that its Ozempic medication failed to slow the progression of Alzheimer's disease in clinical trials. This news has emerged amid broader economic concerns affecting the German market, where business sentiment has also dropped.

Germany is positioning itself to actively participate in the race for the presidency of the European Central Bank (ECB), a role that has never been held by a German national. This ambition comes amid significant economic challenges facing the country, which has recently been labeled the 'sick man of Europe.'

The former chief executive of Nexperia, a Dutch semiconductor company, revealed that Dutch officials were aware for years of the company's Chinese owner’s intentions to transfer technology to China. This revelation follows the Dutch government's seizure of Nexperia in September, amid rising concerns over technology security.

Germany's economy is expected to receive a boost in 2026 due to an increase in working days, which may enhance productivity and output. This development comes amidst a backdrop of fluctuating industrial performance and inflationary pressures in the country.

German exports saw a slight increase in October, driven primarily by strong demand for goods within the European Union, which helped mitigate the slowdown in exports to the United States due to tariffs. This development highlights the resilience of Germany's export sector amidst external challenges.

Nomura Asset Management Co. is relocating dozens of staff from its Tokyo headquarters to offices in London and New York as part of a strategy to enhance its investment and sales operations by developing homegrown talent.