France crisis hits wind sector as metals weaken - Oct 24, 2025

As of October 24, today’s news sees the impact of France’s political crisis on the offshore wind industry and weaker earnings in the metals sector. Offshore wind developers and equipment suppliers are bracing for a slowdown in business in France where a political crisis has stalled changes to the country's energy framework and government tenders, Reuters said. The threat of a further hit to France's economy comes after data released on Friday shows business activity declined faster than expected in October. Meanwhile, Norwegian aluminium producer Norsk Hydro reported an 18.6% fall in third-quarter core profit on Friday, hit by lower alumina prices and a stronger Norwegian crown, partly offset by higher production volumes. In aluminium pricing developments, the premium for Japanese shipments for the fourth quarter has been set at 86 dollars per metric ton, down 20% from the previous quarter, reflecting persistent weak demand. This continues a trend of declining premiums over the last three quarters, with negotiations among producers such as Rio Tinto, South32, and others indicating a challenging market. Furtheremore, the Canadian Pension Plan Investment Board holds a 0.6% short position in NKT. Turning to the energy sector, Eni has seen better-than-expected third-quarter results, reporting an adjusted net profit of 1.25 billion euros, exceeding consensus estimates. The company has committed to a 20% increase in its share buyback plan, reflecting confidence in its financial trajectory amid a volatile energy market. On the broader economic front, the Swiss National Bank has divested its entire stake in Rio Tinto, valued at around 227 million euros, which aligns with its ongoing exodus from extractive industries amidst environmental advocacies. Meanwhile, market movements reflect cautious optimism; copper prices have rallied close to 11,000 dollars per metric ton, buoyed by trade discussions between the U.S. and China, while the share prices of influential tech firms like Intel have surged due to aggressive cost-cutting measures aimed at regaining market confidence. In international dynamics, U.S. President Trump is expected to engage with China's Xi Jinping in South Korea, amid heightened trade tensions and ongoing geopolitical challenges.