加拿大皇家銀行表示，高露潔棕欖公司預計第一季業績將符合預期，並重申業績指引，儘管面臨成本壓力。

-- 加拿大皇家銀行資本市場（RBC Capital Markets）週三在一份報告中指出，高露潔棕欖（Colgate-Palmolive，股票代碼：CL）預計第一季業績將符合預期，並維持全年業績指引不變。不過，由於品類成長放緩和成本壓力，實際業績可能略低於預期。分析師表示，美國市場仍充滿挑戰，品類需求疲軟，近期部分牙膏市佔率下滑。但管理層預計，在第二季和第三季度，隨著Optic White等新產品的推出以及Max White貨架陳列位置的改善，市場狀況將有所改善。新興市場預計將引領成長。報告指出，庫存水準趨於緊張，但管理層並未稱之為“真正的去庫存”，並預計出貨量將略低於消費量。同時，預計2026年原物料通膨將較2025年有所緩解，但樹脂成本高企仍構成風險。分析師表示，高露潔棕欖年初給出的寬泛業績指引範圍反映了疲軟的消費環境和多種可能的結果，這「更好地保護」了公司免受衝擊。他們表示：「我們最終認為高露潔可以重申其業績指引範圍，但預計該範圍將面臨下行壓力。」他們補充說，最大的風險在於美國、非洲、歐亞大陸以及亞太部分地區，成本上升預計也將對利潤率構成壓力。該公司預計將於週五公佈第一季財務業績。加拿大皇家銀行資本市場對高露潔棕欖的評級為“跑贏大盤”，目標價為102美元。

Price: $84.81, Change: $-0.86, Percent Change: -1.00%

Fed Chair Powell Says He Will Remain as Governor for Period of Time After Chair Term Ends

Federal Reserve Chair Jerome Powell said Wednesday at a press conference that he will remain on the Federal Reserve board for a period of time after his term as chair ends on May 15, noting the recent attacks on the Fed and saying that "the things that have happened really in the last three months I think left me no choice but to stay until I see them through at least that long."An investigation into Powell's actions as chair during the remodeling of headquarters at the Fed was halted by the Department of Justice, but it could be reopened if the Fed's inspector general finds wrongdoing, providing uncertainty."I have said that I will not leave the board until this investigation is well and truly over with transparency and finality and I stand by that," Powell said. "I am encouraged by recent developments, and I am watching the remaining steps in this process carefully."Powell said that his decision to remain on board has nothing to do with political comments, but rather his concern about the recent attack on the Fed by the Trump administration."After my term as chair ends on May 15, I will continue to serve as governor for a period of time to be determined," Powell said. "I plan to keep a low profile as a governor. There is only one chair of the Federal Reserve.""I will leave when I think it's appropriate to do so," he added.At the meeting, the Federal Open Market Committee decided to maintain its target rate at a range of 3.50% to 3.75%, but there were dissents in favor of both a lowering of the policy rate by one member and in favor of eliminating the bias toward easing in the statement by three members.

UAE Pushes for Greater Control Over Oil Output, Limited Near-Term Market Impact, RBC Says

The UAE's decision to leave OPEC is unlikely to disrupt oil markets in the near term, but points to a broader strategic realignment as the Gulf producer seeks greater control over its output policy amid the ongoing Middle East conflict, RBC Capital Markets strategists said in a note on Tuesday.The UAE has for years pushed to monetize investments in expanding crude capacity and promoting its Murban benchmark, a strategy that has at times strained relations within OPEC.RBC analysts said disputes over production baselines, including a July 2021 standoff that delayed an agreement for nearly two weeks, underscored friction between the UAE and other members over output quotas.The analysts said the UAE's departure reflects a continuation of these tensions, as the country has consistently sought higher production targets. A subsequent push in 2023 to revise its baseline led to a complex redistribution of quotas, reducing allocations for some African producers.However, despite the policy shift, the UAE is not expected to significantly increase production beyond levels seen in early 2026 once the conflict subsides.The Gulf state has been operating close to its current capacity, and post-war reconstruction demands are likely to temper any rapid supply increases.UAE authorities, in a statement, said it would continue to bring additional barrels to market "in a gradual and measured manner," aligned with demand and prevailing conditions.RBC analysts said this suggests spare capacity within the global system will remain concentrated in Saudi Arabia for the foreseeable future.The move comes at a critical moment in the regional conflict with Iran, which has heightened concerns over energy security, particularly around the strategically vital Strait of Hormuz.The UAE has been among the most vocal Gulf states opposing any scenario in which Iran maintains influence over the passage, citing repeated drone and missile attacks on its territory.The country's increasingly assertive stance appears to align more closely with Israel than with some Gulf neighbors.RBC analysts expect closer cooperation between Abu Dhabi and Israel on energy security and critical infrastructure once the conflict ends, potentially including joint investments and expanded defense agreements in strategic areas such as the Red Sea.The analyst said the UAE's exit does not signal an imminent fragmentation of OPEC. With no immediate requirement for coordinated production cuts and many member states focused on rebuilding capacity after the conflict, the group is expected to remain broadly intact in the near term.

加拿大皇家銀行表示，高露潔棕欖公司預計第一季業績將符合預期，並重申業績指引，儘管面臨成本壓力。

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