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Asia-Pacific stocks higher as investors weigh recession fears

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Japan +1.20%. Japan services PPI 1.8% y/y (prior 1.7%).

Japan CPI data for May: Headline 2.5% y/y (expected 2.9%).

Japanese official says weak yen is having an impact on the price of imported goods.

China +0.66%.

Hong Kong +1.68%

Australia +0.37%.

India +0.75%.

Overnight on Wall Street, Dow Jones climbed 194.23 points, or 0.64%, to 30,677.36, S&P 500 advanced 0.95% to 3,795.73, while Nasdaq gained 1.62% to 11,232.19.

Heads up for NZD traders – New Zealand markets closed for a holiday today.

Looking ahead, the Reserve Bank of Australia’s governor, Philip Lowe, is also set to speak on inflation later in the day.

Oil prices traded sideways on Friday after briefly rising nearly $1 per barrel, as the market balanced fears of slower demand from cooling U.S. economic activity with supply uncertainty.

Brent crude futures were trading down 5 cents, or 0.1%, at $110.00 a barrel by 0310 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 19 cents, or 0.2%, at $104.46 a barrel.

Gold prices were flat on Friday but on course for their second straight weekly decline, with worries over major central banks potentially implementing big interest rate hikes to target runaway inflation weighing on bullion demand.

Spot gold was last up 0.1% to $1,824.72 per ounce at 0215 GMT, after hitting a one-week low of $1,820.99 earlier in the session. U.S. gold futures fell 0.2% to $1,825.90.

Spot silver firmed 0.4% to $21.02 per ounce, and platinum rose 0.9% to $915.11, but both were set for weekly losses.

Palladium climbed 1.4% to $1,870.29, and has gained about 3% this week.

U.S. futures higer. Dow Jones +0.61%; S&P 500 +0.77%; Nasdaq +1.00%.

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Global monkeypox outbreak isn’t an international public health emergency ‘at present,’ WHO rules

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Both the World Health Organization director-general and an emergency committee convened Thursday agree that monkeypox isn’t a international public health emergency “at present,” the organization said Saturday. Read More

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Supreme Court ruling could boost sales of abortion drugs, but insurer coverage varies

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Supreme Court ruling could boost sales of abortion drugs, but insurer coverage varies

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Non-work related loss of life

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NEW YORK, June 25, 2022 (GLOBE NEWSWIRE) — Mercer International Inc. (“Mercer” or the “Company”) (Nasdaq: MERC) is deeply saddened to announce that an employee has passed away at its Rosenthal mill in Germany on June 25, 2022. Mercer and local authorities conducted an investigation and so far determined that the tragic loss was not work related. Mercer’s emergency procedures were immediately activated, local authorities were notified and industrial safety and occupational health personnel were involved for support.

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“We are saddened about the loss of life of one of our employees and our thoughts are with the individual’s family and colleagues,” stated Christian Soergel, Managing Director of Mercer Rosenthal. “Given the nature of the incident, we will be respecting the privacy of our employee’s family and will continue providing support to them and to all our affected employees.”

About Us

Mercer International Inc. is a global forest products company with operations in Germany, USA and Canada with a consolidated annual production capacity of 2.3 million tonnes of pulp, 550 million board feet of lumber, and 140 thousand cubic meters of CLT. To obtain further information on the company, please visit its website at www.mercerint.com.

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The preceding includes forward looking statements which involve known and unknown risks and uncertainties which may cause our actual results in future periods to differ materially from forecasted results. Words such as “expects”, “anticipates”, “are optimistic that”, “projects”, “intends”, “designed”, “will”, “believes”, “estimates”, “may”, “could” and variations of such words and similar expressions are intended to identify such forward‐looking statements. Among those factors which could cause actual results to differ materially are the following: the highly cyclical nature of our business, raw material costs, our level of indebtedness, competition, foreign exchange and interest rate fluctuations, our use of derivatives, expenditures for capital projects, environmental regulation and compliance, disruptions to our production, market conditions and other risk factors listed from time to time in our SEC reports.

APPROVED BY:

Jimmy S.H. Lee
Executive Chairman of the Board
(604) 684-1099

Juan Carlos Bueno
President & Chief Executive Officer
(604) 684-1099

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