-- 德國商業銀行週三發布的《歐洲日出》報告重點指出： 市場：美國公債在紐約交易時段上漲，亞洲交易時段橫盤整理。受亞洲股市走強提振，迷你期貨走強。歐元兌美元走弱至1.179美元。布蘭特原油價格徘徊在每桶95美元左右。 聯準會：芝加哥聯邦儲備銀行行長奧斯坦·古爾斯比表示，迄今為止，消費者需求「持續穩定成長」。參議院銀行委員會已安排於4月21日舉行凱文沃什的聯準會主席提名確認聽證會。 美國：財政部長斯科特貝森特表示，關稅可能在7月恢復到先前的水平，如有必要，將推動對伊朗實施二級制裁。美國希望“降低風險而非與中國脫鉤”，中國的全球貿易順差“過大”，但經濟仍然強勁。白宮經濟顧問凱文哈塞特表示，今年經濟將保持強勁，「肯定能夠實現4%的成長」。 伊朗/地緣政治：美國軍方證實已全面封鎖伊朗港口。唐納德·特朗普總統告訴福克斯新聞，他認為戰爭“即將結束”。巴基斯坦敦促本週舉行伊美會談（《紐約時報》）。五角大廈可能削減伊朗戰爭的經費申請。 霍爾木茲海峽：過去24小時內，超過20艘商船通過霍爾木茲海峽。美國海軍並未護航，而是在安全的情況下與船隻溝通。 ==歐洲： 歐洲央行：行長克里斯蒂娜·拉加德認為，現在就斷言歐洲央行可以忽略伊朗衝擊是一個“嚴重的錯誤”，因為現在判斷還為時過早。歐洲央行處於有利地位，能夠做出有效應對，不會讓通膨預期脫離錨定。管理委員會成員加布里埃爾·馬克盧夫表示，如果衝擊持續，歐洲央行將採取「強而有力的行動」。歐盟委員會成員普里莫茲·多倫茨表示，如果通膨影響持續，歐洲央行將提高利率。 歐洲各國正在起草一項戰後計劃，旨在不借助美國力量清理霍爾木茲海峽，該計劃可能包括派遣掃雷船。該計劃不包括美國，但德國將參與其中。歐洲各國正加速制定北約撤軍後的替代方案（《華爾街日報》）。 法國：財政部仍將2029年財政赤字目標設定在3%。
Related Articles
Research
Research Alert: CFRA Maintains Hold Rating On Shares Of United Rentals Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our 12-month target price to $1,100 from $950 following a strong first quarter, valuing shares at 20.5x our 2027 EPS outlook of $54.28 (in line with previous estimate; 2026 EPS also in line). We believe a higher multiple is justified given URI's firming market leadership within an expanding rental equipment industry. A robust Q1 beat enabled URI to raise its full-year revenue guidance to $16.9B-$17.4B and adjusted EBITDA to $7.625B-$7.875B, citing momentum heading into a busy season. With leverage well below historical levels, we believe accretive M&A deals could serve as a potential catalyst for additional guidance increases. Margin compression has been a sticky issue for URI, but Q1 indicated that pricing may have turned around and that headwinds are starting to ease as quarterly results begin to lap when tariff-related inflation began to pick-up. We remain cautious on margins, though are encouraged by signs of stabilization. New project activity is likely supporting pricing trends, in our view.
$URI
Equities
Petro Rabigh Emerges From Loss in Q1; Revenue Grows
Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, said Sunday it swung back to profit in the first quarter of 2026, while revenue increased year over year.Net profit attributable to shareholders of the issuer for the three months ended March 31 was 1.47 billion Saudi riyals, compared with the attributable loss of 691 million riyals earlier. EPS moved to 0.88 riyal from a loss per share of 0.41 riyal.The Tadawul-listed oil refining and petrochemical company's revenue was 14.85 billion riyals, compared with 11.21 billion riyals a year ago.
$SASE:2380
Research
Research Alert: CFRA Keeps Buy Opinion On Shares Of The Hartford Insurance Group, Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We trim our 12-month target price by $8 to $155, valuing HIG shares at 11.3x our 2026 operating EPS estimate of $13.75 (cut by $0.45) and at 10.6x our 2027 EPS estimate of $14.65 (cut by $0.30), vs. the shares' one-year average forward multiple of 10.3x and peer average of 13x. Q1 EPS of $3.09 vs. $2.20 a year ago missed our $3.60 estimate and $3.39 consensus view. Operating revenue growth of 6.2% was in line with our 6%-10% forecast, amid 5.3% earned premium growth, 13% higher net investment income, and 7.9% fee revenue growth. Q1 written premium growth of 4% and full-year 2025 growth of 7% bode well for 2026 revenue trends as premiums are earned. Underwriting results improved significantly, with Personal Lines combined ratio improving to 87.7% from 106.1% and underlying combined ratio to 85.0% from 89.7%. Business Insurance combined ratio was stable at 94.8%. Weighing the Q1 EPS miss with HIG's decent top-line growth and discounted valuation to peers, we view the shares as undervalued.
$HIG