Market Information Wednesday 1 October 2025

In 2025, major energy companies plan further layoffs due to weak oil prices and industry consolidation. Brent crude has fallen by 10.5% this year, impacting various firms. Exxon Mobil will cut 2,400 jobs globally, Imperial Oil plans a 20% staff reduction, and BP will reduce its workforce by 7,000. Chevron aims to cut 15%-20% of its staff, while Shell intends to reduce its exploration workforce by 20%. These workforce reductions reflect broader economic challenges in the energy sector.

Christine Lagarde, president of the European Central Bank, noted that the eurozone economy is coping better with U.S. tariffs than anticipated, keeping inflation risks “fairly limited.” The ECB has maintained interest rates since June and does not plan to adjust its policy soon, as inflation remains around the 2% target. Investors largely exclude further rate cuts, with most policymakers considering December as the earliest for discussions on additional economic support. Despite initial concerns, trade shocks did not significantly increase inflation pressures, aided by government spending and a stronger euro. Planned defense spending is expected to boost growth, offsetting trade shock impacts.

The U.S. labor market is stagnant, with only a slight increase in job openings and declining hiring rates, reaching the lowest since June 2024. Unemployment remains relatively low at 4.3%, but concerns persist due to declining immigration affecting workforce growth. Despite rising nominal wages, real wage growth has slowed. Layoffs remain low, but federal unemployment claims have doubled compared to last year, signalling potential deterioration in the job market.

The 6M Euribor decreased with 1 basis point to 2.11% compared to previous business day. The 10Y Swap is unchanged at 2.68% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.