-- 受温和天气预测以及前一日公布的美国天然气库存上周增幅超出预期的影响，天然气价格周五早盘跌至近六年来的最低水平。 5月交割的天然气期货价格下跌0.05美元，至每百万英热单位2.56美元，为2020年6月以来的最低水平。 此次下跌源于美国能源信息署（EIA）周四发布的每周库存报告。该机构表示，上周天然气库存增加了1030亿立方英尺，远高于五年同期平均水平，目前库存比五年平均水平高出7.1%。 盛宝银行指出：“库存增加加剧了人们对供应过剩的担忧，温和的季节性天气和疲软的需求加剧了供应过剩，尽管钻井公司已开始因价格走弱而减少钻探活动。” 长期预测也未能对天然气价格提供多少支撑。美国国家气象局对未来 6 至 14 天的天气预报显示，落基山脉以东各州的气温将达到季节性水平或更低，因此制冷需求将保持较低水平。
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Asia
Suncorp Group Sees Improved Earnings Stability Under New Reinsurance Structure, Jefferies Says
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$ASX:SUN
Asia
Fortescue Faces Pressure From Iron Bridge Weakness, Green Energy Shift, Jefferies Says
Fortescue (ASX:FMG) reported softer quarterly performance alongside ongoing challenges at Iron Bridge and increased spending on non-core green energy projects, raising concerns over returns and valuation, Jefferies said in an April 24 note.The company reported a softer quarter due to seasonal and weather impacts, with solid performance from its Pilbara hematite operations offset by ongoing underperformance at the Iron Bridge magnetite project, which continues to face throughput and margin challenges and may struggle to justify its value.Jefferies noted that the company's $680 million investment in green energy capacity for third-party customers, such as industrial users and data centers, represents a strategic shift, but views it as non-core capital allocation that may justify a higher discount rate for its mining business until clearer returns emerge.The equity research firm said that the company's Pilbara system is nearing port capacity constraints, a "good problem" that may allow higher-margin hematite production to displace costlier Iron Bridge volumes, as the company reviews its portfolio, trims Iron Bridge output, and keeps overall shipment guidance broadly unchanged.The research firm added that the company remains financially solid with $4.2 billion in cash despite dividends and capital expenditure outflows and is expected to return to a net cash position longer term, but highlighted Iron Bridge uncertainty and higher green energy spending as risks, including a potential write-down, supporting a cautious outlook.Jefferies maintained an underperform rating on Fortescue and reduced the price target to AU$16.50 from AU$17.50.
$ASX:FMG
Research
Research Alert: CFRA Keeps Hold Opinion On Shares Of Otis Worldwide Corporation
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We cut our 12-month target to $90 from $100 following Q1 earnings, valuing OTIS shares at 19.6x our 2027 EPS outlook of $4.58 (down from $4.70; 2026 EPS view updated to $4.18 from $4.25), a modest discount to industrial machinery peers' and OTIS's five-year forward multiple average given unclear timing of ongoing margin headwinds. Service margins were disappointing in Q1 (contracting 160 bps to 23%) amid higher labor and material costs that came in above pricing. Weakness in China has yet to stabilize, though as noted in the past, this represents a shrinking area of OTIS's portfolio and will have a more limited effect going forward. Overall, the latest quarter was more of the same (China weakness/New Equipment decline), though with the added concern of margin quality being pressured within Service - the core profit driver for OTIS overall. While efforts to shore up profitability are underway, we see timing of recovery being uncertain.
$OTIS