-- Kingfa Sci & Tech (SHA:600143) posted first-quarter attributable net profit of 305.1 million yuan, up 24% from 246.6 million yuan the previous year.
Earnings per share rose to 0.1186 yuan from 0.0935 yuan, according to a Tuesday filing with the Shanghai bourse.
Operating revenue inched down 0.5% year over year to 15.6 billion yuan from 15.7 billion yuan.
Shares of the plastic products manufacturer were down 1% in recent trade.
(Updates prices.)Gold prices were down a second day midafternoon Tuesday as the dollar rose after U.S. retail sales rose above expectations last month, while talks between the United States and Iran could see an end to the Middle East war that has sent the price of oil and other commodities higher.Gold for May delivery was last seen down US$105.50 to US$4,723.30 per ounce.The U.S. Census Bureau on Tuesday said March retail sales rose by 1.7%, up from a revised 0.7% a month earlier and ahead of the consensus estimate for a rise of 1.5%, according to Marketwatch. The rise was the highest in more than three years, CNN reported, but came on a record jump in gasoline prices due to the U.S. war on Iran.Talks to end the war are expected to begin in Pakistan as a two-week ceasefire is set to end tomorrow. A deal could see an end to the closure of the Strait of Hormuz and lower high prices for oil and other commodities trapped in the Persian Gulf. However, Iran has not publicly confirmed it will send negotiators to Pakistan to meet with the United States, though the Wall Street Journal reports Iran has told mediators it will send a team to the talks."Gold is consolidating as traders assess the prospects for renewed US-Iran talks and the approaching ceasefire deadline. Its near-term trajectory remains closely linked to developments in the Middle East, given the potential spillover into inflation expectations, the dollar, bond yields, and US rate outlook," Saxo Bank wrote.The dollar was higher early, with the ICE dollar index was last seen up 0.33 points to 98.43. Treasury yields were also higher, with the yield on the U.S. two-year note up 6.3 basis points to 3.788%, while the yield on the 10-year note was paying 4.297%, up 4.3 points.
Consumer stocks were lower Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.2%.In sector news, Redbook US same-store sales rose by 6.7% from a year earlier in the week ended April 18 after a 7% year-over-year increase in the previous week. "Some retailers reported weaker year-over-year Easter sales, facing challenging comparisons to last year's pre-Easter shopping week in April," Redbook noted. Sales of home improvement items and outdoor merchandise picked up as spring began while household basics, food and consumables held steady.In corporate news, Tractor Supply (TSCO) reported Q1 results that missed Wall Street's projections amid a below-average performance of its companion animal product business. Its shares dropped past 10%.D.R. Horton's (DHI) fiscal Q2 results came in better than expected, although the homebuilder tempered its full-year revenue outlook. Its shares rose past 7%.Estee Lauder (EL) has hired JPMorgan (JPM) to come up with a financing package of about 5 billion euros ($5.88 billion) to fund its takeover of Puig, Spanish business newspaper Expansion reported Tuesday. Estee Lauder shares were down 1.4%.
Ukraine's President Volodymyr Zelenskyy said Tuesday that the Druzhba pipeline has been restored, as Kyiv pushes for energy funding and protection of its infrastructure.Zelenskyy said in a post on X that repair work on the Druzhba oil pipeline segment damaged by a Russian strike has been completed, allowing operations to resume.He cautioned that "no one can currently guarantee that Russia will not repeat attacks," despite efforts to restore pipeline functionality and safeguard infrastructure.The pipeline restoration is linked to the expected unblocking of a European Union support package already approved by the European Council, he said.Zelenskyy added Ukraine has fulfilled its commitments under initial European Union negotiation clusters and called for continued sanctions pressure on Russia alongside efforts to diversify Europe's energy supplies.Ukraine is also coordinating closely with partners to ensure stable energy cooperation as global disruptions linked to the Iran conflict impact fuel markets, Zelenskyy added.He noted that agreed fuel supply volumes for April and May have been fully secured.Ukraine is also preparing for an Energy Ramstein meeting later this week, aimed at accelerating funding efforts for energy system recovery and strengthening protection of critical infrastructure, he added.