VANCOUVER, British Columbia — Shares of Capstone Copper Corp. fell $1.36, or 8.56%, to $14.53, as the mid-tier copper producer pulled back sharply alongside a broader retreat across mining and materials stocks amid a volatile week for global markets driven by surging oil prices and rising bond yields tied to escalating Middle East tensions.

Friday’s decline comes despite Capstone Copper’s continued strong operational and financial performance throughout 2026. The company reported second-quarter revenue of $739.65 million, comfortably beating the consensus analyst estimate of $709.62 million, according to Google Finance, reflecting continued strength in the company’s underlying copper production and sales during the period.

Capstone Copper, founded in 1987 and headquartered in Vancouver, operates a portfolio of copper mines spanning the Americas, including the Mantoverde and Santo Domingo operations in Chile, the Pinto Valley mine in Arizona, and the Cozamin mine in Mexico. The company has provided full-year 2026 production guidance of between 200,000 and 230,000 tonnes of copper, according to Simply Wall St, reflecting largely stable output compared with the prior year as the company continues working through its broader portfolio of producing and development-stage assets.

The company experienced a temporary operational setback at its flagship Mantoverde mine in Chile in late August, when one of two ball mill electrical drive motors failed at the site. According to Simply Wall St, the on-site team replaced the damaged motor with a spare unit, and sulphide copper production subsequently returned to full operating rates. Five days of previously planned maintenance remained scheduled to take place at the site toward the end of September.

Beyond its existing operations, Capstone Copper has continued expanding its broader project pipeline through targeted acquisitions. In June, the company entered into a definitive agreement to acquire a 75% stake in the San Pietro copper project from New Golden Explorations Chile SpA for $25 million, with the consideration to be paid entirely through the issuance of Capstone Copper shares rather than cash. That transaction required approval from Capstone Copper shareholders at a special meeting held in mid-August, adding another development-stage copper asset to the company’s already substantial portfolio across the Americas.

Wall Street analyst sentiment toward Capstone Copper has remained broadly positive in recent months, even as the stock has experienced meaningful volatility. Stifel Nicolaus raised its price target on the stock to 17 Canadian dollars, while TD Securities separately raised its own target to 14 Canadian dollars, according to MarketBeat’s compilation of recent analyst activity. TipRanks has separately noted a Buy rating on the stock with a price target of 14.50 Canadian dollars, with the platform’s AI-driven Spark analysis characterizing the stock as an “Outperform” based on its underlying fundamentals.

Not all recent trading activity around the stock has been uniformly positive. According to a report cited by MarketBeat, Orion Mine Finance was noted as a seller of Capstone Copper shares in recent trading, a development some analysts flagged as worth monitoring given the size and profile of that particular institutional shareholder, even though large institutional sales do not necessarily reflect a change in the underlying investment thesis for the stock.

Friday’s decline for Capstone Copper unfolded against a backdrop of broader weakness across global commodity and mining stocks tied to the week’s dramatic market volatility. Oil prices surged sharply amid escalating conflict between the United States and Iran, with Brent crude climbing more than 7% at one point to above $108 a barrel, while global bond yields spiked in response to renewed inflation concerns. That combination of rising energy costs and higher borrowing costs has weighed broadly on resource and materials companies globally this week, given the sector’s sensitivity to both input costs and the cost of capital needed to fund ongoing mine development and expansion projects.

Copper prices specifically have shown notable volatility throughout the week, even as the metal had been trading near record highs in prior sessions amid strong demand tied to electrification trends, renewable energy infrastructure buildout and continued growth in data center construction globally. That underlying demand narrative for copper has remained largely intact even amid this week’s broader market turbulence, suggesting Friday’s decline in Capstone Copper shares likely reflects broader risk-off sentiment across equity markets rather than any fundamental deterioration in the company’s own operational outlook or the underlying copper demand picture.

Capstone Copper competes within a broader field of North American and international copper producers, including First Quantum Minerals, Hudbay Minerals, Ero Copper, Ivanhoe Mines and Amerigo Resources, among others, according to Yahoo Finance’s compilation of comparable companies. The stock trades on both the Toronto Stock Exchange under the ticker CS and on U.S. over-the-counter markets, giving investors in both Canada and the United States direct access to the company’s shares.

With Capstone Copper’s next quarterly earnings report expected in the coming weeks, investors are likely to continue watching closely for further updates on production levels across the company’s Chilean, Arizona and Mexican operations, along with continued progress integrating the San Pietro acquisition into its broader development pipeline. Given the stock’s demonstrated sensitivity to both company-specific operational updates and broader macroeconomic volatility tied to global commodity markets, Friday’s sharp pullback appears most directly connected to the week’s broader selloff across mining and materials stocks, driven by the combination of surging oil prices and rising global bond yields, rather than any specific negative development unique to Capstone Copper’s own underlying business performance.

FUNDAMENTALS

Spot gold held nearly steady at $4,318.88 per ounce, as of 0020 GMT, after hitting its lowest level since September 2 earlier. Prices fell ‌nearly 2% on ⁠Thursday ⁠after U.S. producer prices increased as expected in August.
U.S. gold futures for December delivery ​were down 1.1% at $4,359.50.

The Federal Reserve is a bit more likely to raise short-term borrowing costs at its meeting next week, traders bet on Thursday, after the first of this week’s key inflation reports.

The Producer Price Index ​for final demand rose 0.4% last month after an ⁠upwardly revised ‌0.1% gain in July, the Labor Department’s Bureau of ​Labor Statistics ​said.

Live Events

The U.S. consumer price index data is due ⁠at 1230 GMT.
Meanwhile, the European Central Bank ​raised rates for the second time this year to quell ​an energy-driven inflation rise and warned that price pressures could prove lasting, fuelling bets on more policy tightening as soon as October.Despite gold being known as an inflation hedge, rising interest rates often pressure the metal, which offers no yield.

Iran-aligned Houthis seized control of Yemen’s ‌port city of Mocha on Thursday and advanced down the Red Sea coast to strategic islands, military sources said, hours after ​President Donald Trump ​said he expected ⁠the Iran war to end after the U.S. midterm elections.

Among other metals, spot silver fell 0.1% at $63.48, platinum steadied at $1,777.42 and palladium lost 0.2% to $1,279.25.

DATA/EVENTS (GMT)

0600 UK ​GDP Est 3M/3M Jul

0600 UK GDP Estimate MM, YY Jul

0600 UK Services MM, YY Jul

0600 UK Manufacturing Output MM Jul

1230 US Core CPI MM, SA Aug

1230 US Core CPI YY, NSA Aug

1230 US CPI MM, SA Aug

1230 US CPI YY, NSA Aug

1230 US CPI Wage Earner Aug

1400 US U Mich Sentiment Prelim Sep

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PERTH, Australia — Shares of Develop Global Ltd. fell $0.54, or 10.06%, to $4.83, marking a sharp single-day pullback for the multi-commodity resources developer even as the company continues progressing toward several major project milestones expected within the current September quarter.

Friday’s decline comes amid a broader difficult week for Australian equities, with the ASX 200 having posted several consecutive sessions of losses driven by surging oil prices and a sharp global bond market selloff tied to escalating tensions in the Middle East. Smaller, more speculative resources stocks like Develop Global have historically shown heightened sensitivity to that kind of broad risk-off market sentiment, given their reliance on continued investor confidence and access to capital markets to fund ongoing project development.

Develop Global, headquartered in West Leederville, Perth, has built a diversified resources portfolio spanning copper, zinc and lithium projects across Western Australia and New South Wales, while also operating an underground mining services division that provides contracting work to other resource companies. The company’s flagship operating asset, the Woodlawn copper-zinc-lead-silver-gold mine in New South Wales, was acquired out of administration from Heron Resources in 2022 and has since progressed into steady-state commercial production ahead of the schedule management had originally set.

Despite Friday’s sharp drop, Develop Global shares remain up substantially for the year, having gained 37.4% year to date as of a recent update from Simply Wall St, with the stock climbing 27% in a single recent month amid strong operational momentum. The stock’s 52-week range spans from a low of $3.12 to a high of $7.68, according to Halo Technologies, illustrating the significant volatility that has characterized trading in the stock throughout the year as the company has worked through a series of major final investment decisions and financing milestones.

Much of that volatility has been tied to the company’s rapid, simultaneous development of multiple major projects. Develop Global reported record group quarterly revenue of $147 million Australian dollars for its fourth quarter of fiscal 2026, up 108% from the prior quarter, driven by strong production at Woodlawn and growth within the company’s mining services division, according to a summary compiled by Quartr. During that same quarter, the company made final investment decisions on both its Pioneer Dome lithium project and its Yitirrti copper-silver-zinc project, with both developments fully funded through a new $400 million U.S. dollar debt facility secured with global commodities trader Trafigura.

Develop Global managing director Bill Beament described the scale of the company’s current development pipeline during the company’s most recent earnings call, according to a transcript published by Investing.com.

“We’re basically building three mines in three years,” Beament said, while also noting that copper and zinc prices currently sit at some of their highest levels since the business began, positioning the company favorably to benefit from strong underlying commodity market conditions even as individual project execution risks remain.

Beament also highlighted particularly strong underground drilling results at Pioneer Dome, describing the potential financial impact of higher-than-expected ore grades.

“The potential impact on this, on the project’s cash flow, is very substantial. The higher the grade, the more money we get per tonne,” Beament said, noting average underground drilling intersections around 1.45% lithium, with underground grades exceeding 1.5% in some areas.

The Pioneer Dome project specifically is approaching several significant near-term catalysts. The company is targeting board approval on a Stage Two underground development decision for Pioneer Dome during the current September quarter, alongside an updated Mineral Resource Estimate for the project, according to Kalkine Media. First direct shipping ore sales from the project’s initial open-pit stage remain targeted for the December 2026 quarter, following a final investment decision made earlier this year and a binding offtake agreement with Trafigura covering at least 750,000 tonnes of direct shipping ore lithium.

At the company’s separate Sulphur Springs copper-zinc project, investors continue monitoring construction progress ahead of a targeted first concentrate production date in June 2028, representing a longer-term development opportunity within the company’s broader portfolio compared with the more near-term Pioneer Dome timeline.

Analyst sentiment toward Develop Global has remained generally constructive despite the stock’s volatility. The most recent analyst rating on the stock stood at a Buy recommendation with a $7.10 price target, according to TipRanks, a figure that implies significant potential upside from Friday’s trading level, though that target predates the stock’s more recent price movements and may not fully reflect current market conditions.

Develop Global’s financial performance has shown substantial underlying growth even amid the stock’s price volatility. According to Simply Wall St, the company has grown earnings at an average annual rate of 67.3%, compared with 15.2% average annual growth across the broader metals and mining industry, with revenue growing at an average rate of 63.9% per year. The company’s current market capitalization stands at approximately $1.8 billion Australian dollars, according to Simply Wall St’s most recent assessment.

With Friday’s decline occurring against the backdrop of both broader market weakness across the ASX and the company’s approaching Pioneer Dome Stage Two decision and updated resource estimate, investors are likely to continue watching closely for further project-specific updates in the coming weeks. Given Develop Global’s history of significant single-session price swings tied to both company-specific news and broader market sentiment, Friday’s pullback may reflect a combination of profit-taking following the stock’s strong year-to-date gains and the kind of elevated volatility that has periodically characterized trading in the stock throughout its rapid, multi-project development phase across copper, zinc and lithium assets in Western Australia and New South Wales.

Some fast-food chains offer a free birthday meal or snack – Burger King members can claim a free Whopper or Plant-Based Whopper, while Chopstix offers a free small noodle box.

However, most restaurant birthday offers are buy-one-get-one-free deals rather than completely free meals.

At Harvester and Zizzi’s it’s a free main when buying another full-price main. At Frankie & Benny’s you get a free main when purchasing two or more main meals.

Byron offers a free burger with a £5 minimum spend, while Wagamama offers free gyoza when you have earned at least one stamp on your loyalty card in the last six months.

Some chains give money off instead. Turtle Bay offers members a £20 birthday credit with no minimum spend, while Bella Italia gives you £15 off your total bill when you spend a minimum of £30. Las Iguanas offers a free main when two other meals are purchased or a 20% off voucher.

Pizza Express birthday rewards depend on your loyalty level. Bronze members may get a free dessert with a £10 spend, while higher tiers can get a free pizza or drinks with a £15 minimum spend.

At Prezzo, members receive drinks or desserts when they spend at least £25, while Bill’s offers a bottle of prosecco or pancakes when qualifying meals are ordered and the booking is made in advance.

The US may be the bigger trading partner, but Canada shouldn’t be counted out quite yet in the escalating trade war between the two countries.

It is the top customer for 26 US states, including Maine, Michigan, and Wisconsin, as well as being in the top three for 45 of the 50 American states – suggesting Prime Minister Mark Carney has room to manoeuvre in a trade fight.

BBC’s Jessica Murphy explains how Canada has more leverage than it may seem in the spiralling dispute.

Read the latest on the escalating tariff fight here.

Video by Eloise Alanna.

Seattle business leaders, including the CEOs of major corporations such as Starbucks and Microsoft, are urging socialist Mayor Katie Wilson and other city officials to take swift action on public safety, pointing to widespread voter dissatisfaction over crime and homelessness.

In a letter dated Thursday, executives called on Wilson, City Council President Joy Hollingsworth, Public Safety Committee Chair Robert Kettle and other council members to adopt a 100-day public safety plan. 

The proposed measures include expanding police patrols, installing additional CCTV cameras, recommitting to a seven-minute response standard for priority 911 calls, transparently reporting when that standard is missed and requiring the city to clear homeless encampments in designated areas within 72 hours.

WASHINGTON BUSINESS OWNERS FEAR SOCIALIST ‘MILLIONAIRES TAX’ IS DRIVING BUSINESSES OUT — AND THEY’RE NEXT

Seattle Mayor Katie Wilson speaks during the Seattle International Film Festival screening. Multiple business CEOs are urging Wilson and other city leaders to tackle crime and other quality of life matters across the city.  (Mat Hayward/Getty Images / Getty Images)

Signers of the letter include top executives from T-Mobile, Alaska Air Group, Starbucks, the Seattle Mariners, Microsoft, BECU, the SODO Business Improvement Area, the Ballard Alliance and the Washington Hospitality Association.

The business coalition is demanding measurable results, citing an Aug. 17 poll showing that only 34% of local voters are confident the city has an effective strategy to address public safety. 

Each proposal in its plan drew support from at least three-quarters of respondents across every geographic area and demographic group in the city, according to the letter. 

Central to the letter’s demands is a push to rebuild the Seattle Police Department. As of mid-2026, Seattle had approximately 1.31 sworn officers per 1,000 residents, “about 40% fewer than Denver, 43% fewer than San Francisco, and 58% fewer than Boston,” the letter noted.

AS SOCIALIST MAYOR BATTLES ICE, SEATTLE POLICE AND CRIME VICTIMS SAY REPEAT OFFENDERS ARE TERRORIZING THE CITY

Homeless people living in RVs and tents along a two-block stretch in Seattle near T-Mobile Park, where the Seattle Mariners play baseball.  (Getty Images / Getty Images)

The business leaders also pushed for increased foot and bicycle patrols in high-crime areas. The request comes shortly after the city ended hiring incentives for police recruits, eliminating bonuses that had offered up to $50,000 for lateral transfers from other law enforcement agencies.

Seattle has struggled for years with persistent property crime, open-air drug use and homelessness despite significant funding. In 2024, the city allocated over $150 million toward homeless services.

Police officers check on a man who said he had been smoking fentanyl in downtown Seattle March 14, 2022, in Seattle.  (Getty Images)

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“You can just see the foil is, like, blowing down the sidewalks like autumn leaves,” Andrea Suarez, founder and executive director of We Heart Seattle, previously told Fox News Digital. 

“[It’s] very common to see property damage in our parks and shared spaces. Narcan is used to reverse an overdose, so you’ll see cartridges. But at least we’re remodeling the bathroom to be gender-neutral. I’m not [kidding] you, that’s where our priorities are.” 

Fox News Digital reached out to the mayor’s office for comment.

The US-Iran war and resulting higher global oil and gas prices are stoking the inflation fears. Shipments through the Strait of Hormuz waterway, one of the world’s busiest oil and gas routes, have been restricted due to the war and a barrel of Brent crude is now around $105 (£78), approaching levels last seen at the outbreak of the conflict.

Along with directly driving up costs for homes and businesses, higher energy prices can also make transporting goods more expensive and those extra costs can be passed down to consumers through steeper prices for the likes of food and other staples.

Central banks try to limit price rises with higher interest rates. By pushing up the cost of borrowing for things such as mortgages and credit cards, they seek to slow consumer spending and inflation. Higher rates also can give people incentives to save instead of spend.

But its a balancing act, as higher rates can also encourage businesses to hold off on investing and hiring.

When the Bank of England meets later next week, it is expected to try to look both at current price pressures and the wider economic picture.

Millions of UK households are set to see energy bills rise to the highest level for three years heading into the winter and gas prices have risen above 200p per therm for the first time since the end of 2022.

Inflation in the UK is at 2.9%, and it is expected to jump in coming months.

But despite those predictions, there appears to be broad agreement that the Bank will leave rates at 3.75%.

That’s because there is “no sign” of the so-called second-round effects of the price shock feeding through the economy, such as workers requesting wage rises or businesses hiking prices, according to Oxford Economics.

This gives the Bank “some breathing space,” added economist Alexander Harvey.

Yael Selfin, chief economist at KPMG, said that outside of the US, in places such as the UK, the economic environment has been “much weaker” than where it was in 2022, when the last inflation shock hit the world. UK inflation reached a record high of 11.1% in October that year.

Interest rates are already higher than four years ago, she added, and consumers, somewhat scarred by previous price hikes, have changed how they spend.

Also, four years ago “businesses were hiring aggressively, vacancies were at record highs, and more people were moving jobs than normal”, Harvey said, as the economy rebooted following Covid.

“The conditions were in place for employees to push for significant pay rises in response to a significant inflation shock,” he said. “That’s in stark contrast to the current labour market.”

Now, hiring is much weaker than average and there is less pressure to recruit – giving employees less leverage to demand higher pay.

Guild says these conversations are easier before a baby arrives than when parents are sleep-deprived and adjusting to life with a newborn.

Molly and Taylor now have two children, aged two and five, and say they were much more prepared the second time around and stopped thinking about household costs as something that always needed to be divided exactly in half.

The couple, who each earn around £60,000, have their own bank accounts alongside a joint account for bills, but are flexible with the amount each contributes when their circumstances change.

During Molly’s maternity leave, for example, they adjusted the split and she’s found it helpful to “view finances as a household”.

The couple say they are teaching their children about money from an early age.

They set pensions up for both kids when they were born and have been paying into them through a monthly direct debit.

Molly explains: “It’s like a gift for the future as they can’t touch that money until they’re in their 60s and we won’t be there to see that.”

They also use Junior ISAs, although Molly points out that once the children are old enough, the money becomes theirs to spend “and if they want to, they can take that money and blow it in Ibiza”.

Taylor says their five-year-old is given small jobs to earn a couple of pounds, rather than simply being bought everything she asks for.

They are also beginning to introduce the idea of saving by telling her that she can spend a pound now or hold on to it and potentially have more later.

Guild says couples should check what support they can receive, including funded childcare hours, external and Tax-Free Childcare, external.

She adds that conversations about money should not stop once parental leave begins and when the baby arrives she advises couples should: