-- 週四早盤，金價企穩，在市場擔憂高油價將推高通膨並迫使利率上調的背景下，金價維持區間震盪。 6月交割的黃金期貨價格下跌6.20美元，至每盎司4,746.80美元。 儘管2月28日伊朗戰爭爆發後地緣政治局勢動盪，但自本月初以來，金價一直維持在200美元的區間內波動。雖然黃金在動盪時期被視為一種價值儲存手段，但隨著油價飆升推高通膨，交易員們轉而投資債券和美元以抵禦利率上升的風險，這使得金價維持在區間震盪。 「3月金價大幅下跌後，4月金價趨於企穩。儘管我們感覺投資者仍保持策略性操作，但我們與業內人士的交流總體上持樂觀態度。許多機構投資者認為，金價此前創下的歷史高位過於樂觀，投機性過強，或許槓桿過高。 Markets）黃金和天然氣策略師克里斯托弗·盧尼（Christopher Louney）寫道。 美元早盤小幅走高，ICE美元指數最新上漲0.09點至98.68。美國公債殖利率變化不大，兩年期公債殖利率最新報3.813%，上漲0.7個基點，十年期公債殖利率持平4.307%。
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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
Research
Research Alert: CFRA Keeps Strong Buy Opinion On Shares Of Baker Hughes
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target price by $14 to $82, reflecting a combination of our sum-of-the-parts (SOTP) and DCF models. For our SOTP model, we presume the oilfield services business (about 50% of BKR's franchise) to be valued at about 10x projected 2027 EBITDA (in line with major peers) and its industrial energy technology business (the other 50%) valued at 14x projected 2027 EBITDA (in line with the peer median). This blended approach, yielding a 12x multiple, implies a value of $73 per share. Meanwhile, our DCF model, using medium-term free cash flow growth of 5% per year, terminal growth of 2.5%, discounted at a WACC of 6.3%, yields intrinsic value of $91 per share. We cut our 2026 EPS estimate by $0.47 to $2.48, but we raise 2027's by $0.07 to $3.24. We acknowledge that the oilfield services business is likely to struggle in 2026 owing to the U.S.-Iran conflict, but the IET business appears quite robust and likely to be a source of both accelerating revenue growth and margins.
$BKR