高盛將Ero Copper的評級從“買入”下調至“中性”，並將目標價從45.85加元下調至42.77加元。

Forvia Targets Lower Debt with EUR1.8 Billion Sale of Interiors Unit

Forvia (FRVIA.PA) will offload its interiors business group to Apollo-managed funds in a 1.82 billion-euro deal that will allow the French group to pare down debt and zoom in on technology-driven operations.The unit delivered 18% of the automotive technology supplier's consolidated revenue in 2025, through 59 production sites and eight research and development centers across 19 countries, according to a Monday release. Forvia said the new owner intends to support the interiors business' development and transformation.Forvia said the sale is a step towards the implementation of its Ignite strategy, presented at a capital markets day Feb. 24. All net proceeds of the transaction will be used to reduce the company's net debt by at least 1 billion euros, in line with management's plan to restore the group's financial structure."With regards to the Interior disposal, the expected debt reductions announced at the CMD have been confirmed and the cash-in is expected for 2026," Deutsche Bank Research said. "Improved visibility on the transaction is a positive, in our view. Overall, we do not expect consensus expectations to move much on the back of the release."The deal is slated to close by the end of 2026, subject to customary regulatory clearances and consultation of the employee representative bodies. Forvia engaged Evercore as its lead financial adviser alongside Crédit Agricole CIB as financial adviser, while Baker McKenzie served as legal counsel.Shares in Forvia dropped nearly 2% in midmorning trade.

Brent Crude Up 2.4% at Near US$107.90 As US-Iran Peace Talks Stall

GfK: German Consumer Confidence Hits Three-year Low as Iran War Fans Inflation Worries

Consumer confidence in Germany hit a three-year low, weighed down by falling income and economic expectations as higher energy prices due to the Iran war continue to fuel inflation worries.The consumer climate indicator for May declined to -33.3 points from a revised -28.1 points in April, market research company Growth from Knowledge said in its latest consumer climate survey published Monday. The reading marks the indicator's lowest level since February 2023.The consensus estimate for May was -30.2 points, based on Investing.com data.In April, the indicator for income expectations plunged 18.1 points to -24.4 points, while economic expectations for the next 12 months fell 6.8 points to -13.7 points as consumers become increasingly concerned that a prolonged war poses a "serious" setback to Germany's economic growth."Income expectations are literally collapsing because of rising inflation. And in this context, people also currently believe that the timing for major purchases is less favorable," said Rolf Bürkl, head of consumer climate at the Nuremberg Institute for Market Decisions.Consumers' willingness to buy is also becoming more pessimistic, with the indicator hitting a two-year low of -14.4 points, down from the previous month's -10.9 points. Meanwhile, their willingness to save remains at a "high level" of 16.1 points, despite slightly decreasing by 2.4 points."The inflation rate in Germany rose from 1.9 percent to 2.7 percent in March due to rising energy prices caused by the war in Iran, leading the majority of consumers to once again expect price increases," GfK noted. "Although the indicator for price expectations rose somewhat less sharply in April than in March-likely due to falling prices at the filling stations, the indicator's level has risen compared to the beginning of the year."