ADX:FERTIGLB

4 stories mentioning ADX:FERTIGLBUpdated 11h ago

Every FINWIRES story that references ADX:FERTIGLB, newest first.

What's the latest news on ADX:FERTIGLB?

Adnoc, XRG, Masdar Sign Energy, Industry, Technology Deals With German Businesses

Abu Dhabi National Oil Co., or Adnoc, its international energy investment business XRG, and Abu Dhabi Future Energy Co., d/b/a Masdar, signed deals with German companies that could enable over 5 billion euros of investment in Germany's energy and industrial sectors, according to a Sept. 11 release.Adnoc and German energy group RWE's (RWE.F) supply and trading unit signed a letter of intent for up to two long-term liquefied natural gas contracts, with deliveries slated to begin in the early 2030s. The state-owned oil company and XRG, meanwhile, agreed to consider a potential collaboration with Securing Energy for Europe, involving gas supply, infrastructure, logistics and portfolio optimization. Adnoc will also look into advanced technology and artificial intelligence partnerships with Bosch Middle East, Siemens Energy (ENR.F), and Siemens Industrial.Additionally, United Arab Emirates-based chemicals producer Ta'ziz and Covestro (1COV.F) decided on the next steps in their joint feasibility study into a methylene diphenyl diisocyanate value chain in Ruwais, UAE, aiming for production start-up in the early 2030s. Along with Fertiglobe (ADX:FERTIGLB), Covestro and MB Energy will evaluate the joint development of low-carbon ammonia supply chains into Germany.Renewable energy company Masdar and RWE agreed to explore participation in future German offshore wind auctions and investments in offshore wind and battery storage projects in Germany and wider Europe.

$1COV.FADX:FERTIGLB$ENR.F$RWE.F

Asia Markets25d ago

Abu Dhabi, Dubai Stocks Fall as Iran Tensions Flare Up

Markets in the United Arab Emirates closed lower on Wednesday as investors adopted a cautious stance on reports of renewed regional tensions with Iran.At the close of trading, the FTSE ADX General Index was down 0.912%, while the DFM General Index declined 0.28%.The UAE Ministry of Defence said Tuesday that the country's air defense systems detected two ballistic missiles from Iran. The missiles targeted maritime traffic and fell into the sea. Iranian Foreign Ministry spokesperson Esmaeil Baghaei, however, denied the claims, describing them as "baseless."As tensions between the two Middle Eastern countries renewed, the UAE halted all trade, commercial exchanges, and financial transactions with Iran, citing threats to regional security and international peace.Amid a quiet day for regional corporate news, Parkin (DFM:PARKIN) gained 2.14% at closing as it signed a memorandum of understanding with Modon Misr for Asset & Facility Management, Mwasalat Misr and Redcon Properties to explore joint initiatives in advanced parking management and mobility services in Egypt.Elsewhere, Jefferies launched its coverage of Fertiglobe (ADX:FERTIGLB) with a buy rating and set a price target of 3.50 Emirati dirhams, stating that the Abu Dhabi-listed fertilizer producer's diversified plant locations partially shield it from trade disruptions in the Strait of Hormuz. Fertiglobe's shares ended the session 0.77% in the green.In other news, markets will await the release of the US Federal Reserve's highly anticipated Federal Open Market Committee July meeting minutes later in the day to get clues on future interest rate decisions, voting divisions among members, and inflation."Markets are looking for a more detailed sense of the committee's thinking beyond Kevin Warsh's limited forward guidance. Three participants voted in favour of a hike, and since then, several others have flagged willingness to support a hike if warranted by incoming data," Danske Bank commented.

^DFMGI^FADGIADX:FERTIGLBDFM:PARKIN

Asia Markets47d ago

UAE Shares Blink Red; Oil Prices Fall After US-Iran Strikes Ease

Stocks in the United Arab Emirates closed lower despite a suspension of hostilities between the US and Iran, sending oil prices down and lifting investor optimism for renewed peace talks.At the close of Tuesday trading, the FTSE ADX General Index fell 0.104%, while the DFM General Index lost 0.93%.Oil prices were trading lower after US President Donald Trump said talks with Iran are underway and there is a "good chance" of a deal. Trump also warned to resume military action if the talks fail."We have been in this position multiple times before, and so the market may be getting a bit ahead of itself. At the end of the day, there has been no improvement in tanker flows through the Strait of Hormuz. If this move lower is to be sustained, we will need to see a recovery in flows through the strait," ING said. "Furthermore, even in the event of a deal, one would expect that the market will need to continue to price in a large risk premium, given that recent events have demonstrated how quickly a deal can unravel."Brent crude oil futures stood at nearly $86.94 per barrel as of 3:38 pm UAE time, down 1.61% from the previous day.Zooming in at home, the Dubai International Financial Centre's number of active registered companies and regulated financial services firms grew to 10,018 and 1,134, respectively, for the first half.On the corporate side, Fertiglobe (ADX:FERTIGLB) logged a 237% year-over-year growth in attributable profit and a 59% increase in revenue for the first half amid higher market prices of urea and ammonia. The fertilizer company closed the session 0.38% higher.Elsewhere, United Securities LLC affirmed its buy rating on Emirates NBD Bank (DFM:EMIRATESNBD) and revised its price target to 36 Emirati dirhams per share, citing the lender's strong operational performance in the second quarter. Its shares lost 2.50% at closing.

^DFMGI^FADGIADX:FERTIGLBDFM:EMIRATESNBD

Asia Markets137d ago

Emirati Shares in Green as UAE Exits OPEC; Fertiglobe Surges on Upbeat Q1 Earnings

Stock trading in the United Arab Emirates ended Wednesday higher as the FTSE ADX General Index was up 0.668%, while the DFM General Index was little changed at 0.059% in the green.Dominating headlines, the UAE decided to exit the Organisation of the Petroleum Exporting Countries and the wider OPEC+ on Friday following a comprehensive review of its production policy and existing and future capacity."OPEC and OPEC+ have only ever been as strong as the members' willingness to hold barrels back from the market, and the UAE was one of those. Losing a member with 4.8 million barrels per day of capacity, and the ambition to produce more, takes a real tool out of the group's hands," Rystad Energy head of geopolitical analysis Jorge Leon commented. "While near-term effects may be muted given ongoing disruption in the Strait of Hormuz and broader geopolitical uncertainty, the longer-term implications are more consequential."Turning to corporate news, Fertiglobe (ADX:FERTIGLB) logged a first-quarter attributable profit and revenue growth of 173% and 32%, respectively. Its shares closed the session 10.32% in the green.Dubai-listed Tecom Group (DFM:TECOM) closed the session 1.20% higher after reporting an increased profit and revenue for the first quarter, backed by higher occupancy rates across its commercial and industrial assets and strategic investments.Across the pond, markets will await the release of the US Federal Reserve's interest rate verdict later in the day, and as widely expected, the federal funds rate will be kept steady in the 3.50% to 3.75% range. The Federal Open Market Committee meeting is also expected to be Fed Chair Jerome Powell's final meeting, with US President Donald Trump's nominee Kevin Warsh expected to replace him."There is a good chance the Fed will signal it's still too early to conclude the inflation-growth trade-off and related monetary policy implications. However, the latest signs from the Middle East are not encouraging. While Powell's signals may be taken with some caution, given that this should be his last press conference, the risks are that he errs on the hawkish side," ING said.

^DFMGI^FADGIADX:FERTIGLBDFM:TECOM

Track with the FINWIRES app suite

FolioX

Track ADX:FERTIGLB in your portfolio

WheelAI

Analyze ADX:FERTIGLB options with the wheel strategy

StockInsider

See market sentiment on ADX:FERTIGLB