S&P Global Inc. - SPGI STOCK NEWS

S&P Global's new report reveals that the United States ranks second-to-last globally in development time for new critical mineral mines, taking an average of 29 years from discovery to production. This lengthy process is surpassed only by Zambia at 34 years. The report highlights a significant challenge for the energy transition, as the U.S. has substantial resources of critical minerals like copper and lithium, yet receives less mining exploration investment compared to peers like Australia and Canada.

Key findings include:

• U.S. copper reserves and resources (275+ million metric tons) rival those of Canada and Australia combined
• U.S. lithium endowment (43+ million tons) is more than double Australia's, the current global leader in production
• Mining exploration budgets in the U.S. are 57% lower than Australia and 81% lower than Canada over the past 15 years
• Only three new mines have started production in the U.S. since 2002, while 10 projects remain in development, some for decades

S&P Global Commodity Insights has launched the world's first independent daily spot market solar photovoltaic (PV) panel price assessments for US, Europe, and Asia. The new Platts Solar Module prices include six individual assessments and a Global Solar Module Marker, providing a global perspective on solar panel prices. These assessments reflect the value of bifacial solar modules for commercial, industrial, and utility-scale projects.

The launch comes as solar PV is expected to be the most installed energy source in the coming decades, with S&P Global forecasting over 4 TWdc of new installations before 2030. The assessments aim to bring transparency to the increasingly commoditized solar module market, addressing the industry's need for independent pricing information.

The GEP Global Supply Chain Volatility Index remained in positive territory for the second consecutive month in June 2024, highlighting increased global supply chain activity. The index stood at 0.13, slightly down from May's 0.21. Asian manufacturing, particularly in China, Taiwan, Vietnam, and India, saw significant growth, driving up input demand. Conversely, North American suppliers experienced a slight decline in demand, indicating a tightening economy. European manufacturing activity remains subdued but has improved compared to late 2023. Global transportation costs reached a 20-month high, reflecting increased shipping and container rates. Labor shortages continue to challenge capacity expansion. The next index update will be released on August 12, 2024.

S&P Global Market Intelligence has released its first-ever ranking of Europe’s top-performing banks, identifying OTP Bank of Hungary as the leader for 2023. The ranking considered seven financial metrics like return on average equity, net interest margin, and cost-to-income ratio. OTP Bank's strong performance was driven by high lending margins amidst elevated interest rates. Poland's PKO Bank Polski and Bank Polska Opieki followed in second and third place, respectively. French banks BNP Paribas, Crédit Agricole, and Société Générale were at the bottom, hindered by structural issues and regulated savings accounts.

The annual U.S. Property and Casualty (P&C) Insurance Performance Rankings by S&P Global Market Intelligence revealed that commercial insurers dominated the top spots among the 100-largest P&C carriers. Kinsale Capital Group led for the second year, with significant growth in premiums, assets, and policyholders' surplus. Arch Capital Group and FM Global Group secured the second and third positions, respectively. Commercial insurers excelled in earnings, underwriting profitability, and balance sheet expansion, despite a slowdown in direct premiums written. Only two personal lines carriers, Progressive and Berkshire Hathaway, made it into the top 50, driven by superior private auto insurance performance.

Nearly 2 million vehicles are back on U.S. roads after airbag deployments over the last two years, potentially increasing the risk of counterfeit airbags being installed, according to CARFAX data.

The National Highway Traffic Safety Administration (NHTSA) highlights the dangers of counterfeit airbags, noting they have resulted in 3 deaths and 2 severe injuries in the past nine months.

Ten states have reported over 40,000 such vehicles, with Texas leading at 206,000. Consumers are urged to verify the history of used vehicles and ensure airbag replacements are genuine.

NHTSA advises using trusted, reputable repair shops and checking Vehicle History Reports on CARFAX.com to mitigate risks.

S&P Global Market Intelligence has launched an enhanced Evaluated Loan Pricing solution, offering independent and transparent pricing for over 8,000 leveraged loans globally. This service provides expanded coverage, delivering single price points for both composite and evaluated loans.

The solution aims to support trading, valuations, and risk management, furnishing portfolio managers and traders with valuable insights to better understand holdings, track price movements, and compare loans with similar characteristics. It also assists risk managers in assessing portfolios and making informed decisions about holding or divesting positions.

Utilizing contributor-based pricing engines and sophisticated parsing technology, the service includes bid-offer pricing, analytics, and mapping for over 400,000 industry identifiers. With over twenty years of historical data, the product is accessible via a secure web interface and can be integrated into existing workflows.

S&P Global Commodity Insights has launched the world's first daily recycled lithium carbonate price assessments, covering spot market prices in China and North Asia. This launch addresses the growing demand for pricing transparency in the recycled battery supply chain. The assessment reflects battery-grade quality lithium carbonate at 99.5% purity. As global sustainability efforts intensify, the recycled lithium market is poised for significant growth, with end-of-life battery availability in China expected to reach 438 GWh by 2032, a compound annual growth rate of over 44%. The move complements S&P's existing suite of battery metals assessments and aims to offer comprehensive pricing solutions from upstream spodumene concentrate to downstream lithium chemicals.

S&P Dow Jones Indices reported a significant increase in U.S. common indicated dividend payments for Q2 2024, driven primarily by Alphabet's $9.3 billion dividend initiation. The net indicated dividend change rose by $16.0 billion, similar to Q1 2024 and significantly higher than Q2 2023's $4.3 billion. Despite this growth, Q2 2024's total common dividend increases ($20.4 billion) were down 10.0% from Q1 2024 but more than doubled Q2 2023's $9.8 billion. Dividend decreases also dropped to $4.4 billion, a 34.4% decline from Q1 2024. For the 12-month period ending June 2024, dividend increases were $78.7 billion, a 21.1% rise from the prior year, with decreases rising by 29.2% to $24.1 billion. The S&P 500 index marked a per-share dividend increase of 1.2% in Q2 2024, reaching $18.28, and an aggregate dividend payment of $153.4 billion. The quarter saw a notable 17.2% year-over-year increase in dividend initiations, while decreases significantly reduced by 67.7%.