Rising heat, falling chips and sticking prices: the financial week in five charts
Open Interest (ROI), every Friday, distills the previous five days' financial activity into five charts that highlight the "major trends, surprises, and overlooked movements" of the week.
1. ANNA SZYMANSKI is the Editor in Charge of ROI. Although South Korea's KOSPI slipped 7% last week, it still achieved a 66% quarterly gain, its best since 1998. It has also roughly doubled from the beginning of the year. Will this week’s turmoil prove to be a turning-point or a speedbump? Recent history suggests that the latter.
2. GAVIN MAGUIRE is a columnist for the ROI Global Energy Transformation. The UK's power prices have been closely monitored as record-breaking temperatures are straining Britain's grids. This has disrupted daily life. Wholesale prices are now twice what they were in 2026. This is due to the surge in demand for cooling systems, while power providers have to cut back on production to avoid blackouts. Here's a guide that will help you track the impact of the heatwave on the UK's power system and Europe.
3. HOW STICKY IS "STICKY"? MIKE DOLAN: The U.S. Inflation rate has risen again in May, and is stubbornly higher than the Federal Reserve target. Kevin Warsh, the new Federal Reserve chief, prefers a trimmed-mean price measure that strips out extreme monthly changes. This measure is moving towards 3%. With crude oil prices back to pre-Iran War levels, the June inflation data will be closely monitored for'signs that underpinning price pressures have eased along with energy costs. There are also growing concerns about whether lower gas prices could make overall inflation worse.
4. RETHINKING NORTH SEA RON BOUSSO: Following the Iran War, energy security is now a major concern in Britain. The next Prime Minister has the opportunity to rethink Britain's policy on restricting North Sea oil & gas activity.
5. ?AFRICA?S MINERAL MUSCLE? ANDY HOME, ROI Metals columnist: China?s imports of Cobalt from the Democratic Republic of Congo have collapsed since the imposition of export restrictions. This is part of a broader trend where African countries are looking to reap greater rewards from their mineral wealth.
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(source: Reuters)
