PICC's Q1 Profit Slips 31%

-- People's Insurance Company of China (HKG:1339, SHA:601319) or PICC recorded a 31% decline in attributable profit in the first quarter of 2026 to 8.81 billion yuan from 12.8 billion yuan a year prior, according to a Wednesday Hong Kong bourse filing.

Earnings per share slipped to 0.19 yuan from 0.29 yuan in the corresponding period of the previous fiscal year.

The insurer's total operating income slipped 5.1% to 148.5 billion yuan from 156.6 billion yuan in the year-ago period.

The firm attributed the lower profit to an impact of the capital market, a lower profit contribution from the investment side.

RBC Maintains First Quantum's Outperform Rating, C$45 Price Target

RBC Capital Markets maintained its outperform, speculative risk, rating on the shares of First Quantum Minerals (FM.TO)' and its C$45.00 price target following the company's first-quarter results.RBC expects a modest negative reaction to the results, given a headline miss on EBITDA and adjusted earnings per share.The company reported a first-quarter EBITDA of US$326 million, below RBC's forecast of US$461 million and the consensus estimate of US$448 million.Adjusted loss of US$0.18 per share also missed RBC's EPS forecast of US$0.01 per share and the consensus estimate of US$0.06 per share.First Quantum's financial results were impacted by US$144 million of losses on hedges and from lower sales due to timing and inventory replenishment.Price: $33.64, Change: $-0.65, Percent Change: -1.90%

$FM.TO

US Equity Indexes Fall as Iran War Deadlock Sends Crude Oil, Treasury Yields Sharply Higher

US equity indexes traded lower around midday Wednesday as crude oil futures and government bond yields rose amid concern that Iran's blockade will be extended to force Tehran into a peace deal.The Dow Jones Industrial Average fell 0.7% to 48,789.2, with the S&P 500 down 0.2% to 7,122.9. The Nasdaq Composite was 0.2% lower at 24,620.7.President Donald Trump has instructed aides to prepare for an extended blockade of Iran, US officials told The Wall Street Journal. In recent meetings, including a Monday discussion in the Situation Room, Trump opted to continue squeezing Iran's economy and oil exports by preventing shipping to and from its ports, the WSJ said.Trump assessed with his aides that the other options open to him -- resume bombing or walk away from the conflict -- carried more risk than maintaining the country's blockade, the officials told the WSJ."Iran can't get their act together. They don't know how to sign a nonnuclear deal. They better get smart soon!" Trump said in a Truth Social post Wednesday.Meanwhile, West Texas Intermediate crude oil futures jumped 4.9% to $104.86, and Brent crude futures surged 5% to $116.85 amid concern that Trump's policy will prolong disruption in the Strait of Hormuz, the chokepoint for 20% of global crude oil flows.

$^DJI$^IXIC$^SPX

PICC's Q1 Profit Slips 31%

Related Articles

RBC Maintains First Quantum's Outperform Rating, C$45 Price Target

US Equity Indexes Fall as Iran War Deadlock Sends Crude Oil, Treasury Yields Sharply Higher

Textron Keeps Quarterly Dividend at $0.02 a Share, Payable July 1 to Shareholders of Record as of June 12