-- 紐西蘭商業銀行（BusinessNZ）週一發布的報告顯示，受中東衝突影響，紐西蘭服務業3月份出現萎縮，連續第三個月下滑，其中非必需消費支出受到的衝擊尤為嚴重。 3月紐西蘭商業銀行服務業績效指數（PSI）為46.0，較2月下降1.6點，較52.8的長期平均低6.6點。 紐西蘭商業銀行研究主管史蒂芬·托普利斯表示：“PSI讀數如此糟糕，以至於我們的PMI/PSI綜合指標表明，經濟可能很快就會陷入萎縮。雖然我們並未預測會出現衰退，但這些數據支持了我們近期大幅下調2026年增長預期的決定。” 所有五個分項指數的讀數均低於50.0。紐西蘭商業銀行指出，新訂單指數從48.8降至45.7，經濟活動指數從47.5降至44.6，「尤其令人擔憂」。 由於通膨導致實際可支配收入下降，零售貿易、住宿、咖啡館和餐廳等行業將受到衝擊，因此，低於50%的就業指數可能還會進一步走低。 「疲軟的就業指數報告也印證了我們先前的觀點，即未來一年勞動市場不太可能出現任何實質改善，」托普利斯表示。 “展望未來，很難想像服務業的許多行業會迅速好轉。”
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