Constellation Oil Services (COSH.OL) uplisted its depositary receipts to Euronext Oslo Børs on Tuesday, according to a same-day release.
The offshore drilling company transferred its shares from Euronext Growth Oslo.
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Barclays Names Iberdrola as 'Gold Standard' Utility; Rating, Price Target Upgraded
Barclays upgraded its investment opinion on Iberdrola (IBE.MC), saying the Spanish company is a "gold standard" utility with a "once in a generation" growth opportunity.In a Tuesday note, the research firm raised its rating to overweight from equal weight and increased its price target by 34% to 22.60 euros. Analysts said the energy company's capital deployment track record is expected to be "turbocharged" by the energy transition, artificial intelligence data center demand, and energy security priorities."The current strategic pivot is towards regulated networks (UK/US), with renewables and low voltage networks providing optionality into the next decade. We estimate Iberdrola's strong balance sheet can finance these growth opportunities," the note said.Against this backdrop, Barclays projects an EPS growth rate of nearly 11% between full-year 2026 and 2030, surpassing the sector slightly, alongside an anticipated total shareholder return of 15%. These estimates sit at the upper end of management's high single-digit guidance and ahead of Bloomberg consensus expectation of 8% for the 2024 to 2028 period, the research firm added.Upcoming key catalysts include the implementation of the UK's new transmission regulatory framework, the impact of the New England Clean Energy Connect interconnection operations, and Iberdrola's Castellón Green Hydrogen project with BP (BP.L), among others.
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Lulu Retail Opens Four New Mini Market Stores in Saudi Arabia
Lulu Retail (ADX:LULU) opened four new mini market stores in Saudi Arabia, consistent with the group's expansion strategy in the Gulf Cooperation Council.The Abu Dhabi-listed retailer's new stores are located at Ar Rabi and Khurais Road metro stations and Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, gas station in Riyadh, as well as at an Abu Dhabi National Oil Co, or Adnoc, gas station in Dammam, according to a Monday release.
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Update: Oil Prices Slump as the United States and Iran Continue Peace Talks
Oil traded sharply lower midafternoon Monday, falling more than 6% as peace negotiations between Iran and the Untied States continue, raising hopes for a deal that will reopen the blockaded Strait of Hormuz.West Texas Intermediate crude oil for July delivery was last seen down US$6.21 to US$90.39 per barrel in electronic trade, with markets closed for the Memorial Day holiday, July Brent oil was down US$7.40 to US$96.14.The drop comes as the countries continue talks to end the war that has kept the Strait closed for nearly three months, blocking much of the 20% of daily oil demand supplied by Persian Gulf nations. The Wall Street Journal reported Iran is willing to lift its blockade of the Strait in exchange for the United States ending its blockade of Iranian ports, though Iran warned a final deal is not imminent.The closure of the Strait has boosted oil prices to four-year highs, raising inflation and pressuring U.S. President Trump to come up with a deal to end the war as the high-demand U.S. driving season begins with today's Memorial Day holiday, further squeezing supply."Both Trump and Iran have strong reasons to find a quick way out of the war and crisis, for economic, financial, political and military reasons," SEB Research noted.
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