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Sectors

Sector Update: Financial

Financial stocks declined in late Friday afternoon trading, with the NYSE Financial Index shedding 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.3%.The Philadelphia Housing Index shed 2.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.3%.Bitcoin (BTC-USD) was declining 2.5% to $79,082, and the yield for 10-year US Treasuries jumped 13.4 basis points to nearly 4.60%.In corporate news, Apollo Global Management-backed (APO) West Technology is in exclusive talks for the sale of its remaining operating business as talks with debt holders continue, Bloomberg reported. Apollo shares were up 0.1%.

$APO
Wire

Market Chatter: Eni Engages Morgan Stanley to Explore Potential LNG Assets Deal With Certain Funds

Eni (E) has asked Morgan Stanley (MS) to help it raise funds from investors, including Apollo (APO), KKR (KKR), and Stonepeak, in a potential deal backed by its floating liquefied natural gas assets, Reuters reported Tuesday, citing people familiar with the matter.The discussions are still at an early stage and may not result in a deal, the report said. It added that, if completed, the transaction could raise at least 1 billion euros for Eni.Apollo, Eni, KKR, Morgan Stanley, and Stonepeak declined to comment to Reuters. The companies didn't immediately reply to' request for comments.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $55.49, Change: $+0.02, Percent Change: +0.05%

$APO$E$KKR$MS
Sectors

Sector Update: Financial Stocks Fall Monday

Financial stocks fell Monday with the NYSE Financial Index declining 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) easing 0.1%.The Philadelphia Housing Index shed 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.4%.Bitcoin (BTC-USD) added 0.7% to $81,990, and the yield for 10-year US Treasuries rose 4.6 basis points to 4.41%.In economic news, the pace of US existing home sales increased 0.2% to a 4.02 million seasonally adjusted annual rate in April from 4.01 million in March, below the expectations for a 4.05 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors showed.In corporate news, Brookfield Asset Management (BAM) plans to invest $500 million in OpenAI Deployment Co. Brookfield shares fell 1.7%.Blackstone's (BX) real estate debt arm, Blackstone Real Estate Debt Strategies, launched a lending platform to provide capital and flexibility to US homebuilders, aiming to support construction of over 50,000 for-sale homes annually. Blackstone shares declined 1.9%.Apollo Global Management (APO) said its managed funds agreed to buy Emerald Holding (EEX) and Questex to form a combined business events platform. Separately, Apollo is in discussions with potential buyers to sell its MidCap Financial Investment (MFIC) business development company, the Wall Street Journal reported. Apollo values the business at about $3 billion, the report said. Apollo shares fell 2.1%, and MidCap Financial Investment dropped 5.2%.

$APO$BAM$BX$MFIC
Sectors

Sector Update: Financial Stocks Mixed Monday Afternoon

Financial stocks were mixed in Monday afternoon trading with the NYSE Financial Index dropping 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) edging up 0.1%.The Philadelphia Housing Index shed 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.3%.Bitcoin (BTC-USD) fell 0.7% to $81,616, and the yield for 10-year US Treasuries rose 4.2 basis points to 4.406%.In economic news, the pace of US existing home sales increased 0.2% to a 4.02 million seasonally adjusted annual rate in April from 4.01 million in March, below the expectations for a 4.05 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors showed.In sector news, the White House is reviewing a plan for the US Securities and Exchange Commission to end the so-called gag rule that lets companies and people settle enforcement actions without admitting wrongdoing if they vow not to dispute the allegations, Bloomberg reported.In corporate news, Blackstone's (BX) real estate debt arm, Blackstone Real Estate Debt Strategies, launched a lending platform to provide capital and flexibility to US homebuilders, aiming to support construction of over 50,000 for-sale homes annually. Blackstone shares fell 1.5%.Apollo Global Management (APO) said its managed funds agreed to buy Emerald Holding (EEX) and Questex to form a combined business events platform. Separately, Apollo is in discussions with potential buyers to sell its MidCap Financial Investment (MFIC) business development company, the Wall Street Journal reported. Apollo values the business at about $3 billion, the report said. Apollo shares fell 1.5%, and MidCap Financial Investment dropped 3.5%.Brookfield Asset Management (BAM) is well positioned heading into its fundraising cycle, with its private equity and infrastructure flagships, along with 60 fundraising strategies driving an estimated $150 billion in fundraising in 2026, RBC Capital Markets said. Brookfield shares fell 1.5%.

$APO$BAM$BX$MFIC
Wire

Top Midday Stories: Moderna Working on Hantavirus Vaccine, Shares Rise; Blackstone, Halliburton to Invest Combined $1 Billion in VoltaGrid

The three major US stock indexes were up slightly in late-morning trading Monday after President Donald Trump said Sunday on Truth Social that he has rejected Iran's latest proposal to end the war.In company news, Moderna (MRNA) said it has been working on early-stage vaccines targeting hantaviruses, Bloomberg reported. The research began before recent infections were reported aboard the Dutch-flagged Hondius, the report said, citing the company. Moderna shares were up 4.9% around midday.Blackstone (BX) and Halliburton (HAL) will invest a combined $1 billion into energy startup VoltaGrid in a deal that values the company at over $10 billion, Bloomberg reported Monday, citing people familiar with the matter. Separately, Blackstone agreed to acquire a majority stake in Greek online marketplace Skroutz from CVC Capital Partners, Bloomberg reported Monday. Financial terms of the deal were not disclosed, though people familiar with the matter reportedly told Bloomberg it values Skroutz at 635 million euros. Lastly, Blackstone Real Estate Debt Strategies has launched a lending platform to provide capital and flexibility to US homebuilders, the company said Monday. Blackstone shares were down 1.0%, while Halliburton shares were up 0.6%.Cerebras Systems is planning to increase the size and price of its initial public offering, the company said in a regulatory filing. Cerebras plans to raise its IPO price to a range of $150 to $160 per share from $115 to $125 per share and increase the number of shares marketed to 30 million from 28 million.Apollo Global Management (APO) said Monday its managed funds signed definitive agreements to buy Emerald Holding (EEX) and Questex to form a combined business events platform. The company will pay $5.03 per share to acquire Emerald, assigning the target company an expected value of about $1.50 billion, the company said. Separately, Apollo is in talks to sell its MidCap Financial Investment (MFIC) business development company, The Wall Street Journal reported Sunday, citing people familiar with the matter. Apollo values the business at around $3 billion, the report said, citing the sources. Apollo shares were down 0.8%, while Emerald shares were up 9.3% and MidCap shares were down 2.6%.FS KKR Capital (FSK) reported a Q1 loss Monday of $1.57 per diluted share. Total Q1 investment income was $304 million down from $400 million a year ago and below the FactSet consensus analyst estimate of $316.8 million. The company said Monday that KKR's (KKR) KKR Alternative Assets unit will launch a tender offer to buy up to $150 million of FS KKR Capital's shares at $11 each. The offering will begin Tuesday and is expected to expire on June 9, the company said. KKR Alternative Assets agreed to buy $150 million in newly issued shares of cumulative convertible perpetual preferred stock, FS KKR Capital said Sunday. FS KKR shares were up 0.5%, while KKR shares were down 2.8%.Alphabet (GOOG, GOOGL) on Monday filed a preliminary prospectus supplement with the SEC for a multi-tranche yen-denominated bond offering targeting qualified institutional investors in Japan. The offering consists of five series of notes with varying maturities and interest rates, with all payments to be made in Japanese yen, the filing said. Alphabet's Class C and Class A shares were down 1.8% and 1.9%, respectively.Walt Disney's (DIS) ABC network has been the victim of "sustained, coordinated" censorship by the Trump administration, Federal Communications Commissioner Anna Gomez said in a letter to Disney Chief Executive Josh D'Amaro, The Wall Street Journal reported Monday, citing the letter, which it viewed. Disney shares were down 2.0%.Price: $54.87, Change: $+0.52, Percent Change: +0.95%

$APO$BX$DIS$EEX$FSK$GOOG$GOOGL$HAL$KKR$MFIC$MRNA
Mining & Metals

Onex Partners Announcing Sale of Emerald to Apollo Funds

Onex Partners announced Monday the sale of Emerald Holding Inc. (NYSE:EEX), of which it owns over 90% of the outstanding shares, to funds managed by Apollo (NYSE:APO), in a transaction that values Emerald at approximately US$1.5 billion.Upon completion of the transaction, Emerald will cease trading on the New York Stock Exchange and become a private company owned by the Apollo Funds.Onex Partners' investment in Emerald, a U.S.-based B2B event organizer, is held through Onex Partners III and Onex Partners V, both of which will receive full liquidity on their respective positions.The transaction is expected to close in the second half of 2026, subject to regulatory approvals.Shares in Onex were down 0.85% in Canada on Friday.

$APO$EEX$ONEX.TO
Sectors

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks were lower late Friday afternoon, with the NYSE Financial Index decreasing 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.5%.The Philadelphia Housing Index was up 0.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.4%.Bitcoin (BTC-USD) rose 0.1% to $80,056, and the yield for 10-year US Treasuries lost 2.8 basis points to 4.36%.In economic news, the April employment report showed nonfarm payrolls rose by 115,000, above the 65,000 jobs rise expected in a Bloomberg survey, while March payrolls were revised up to a 185,000 increase and February payrolls were revised down to a 156,000 decrease.The University of Michigan's preliminary consumer sentiment index fell to 48.2 in May from 49.8 in April, lower than the expectations for a smaller decrease to 49.5 in a Bloomberg poll.In corporate news, Apollo Global Management (APO) and Blackstone (BX) are among the private-credit firms involved in discussions with Broadcom (AVGO) on $35 billion in financing, Bloomberg reported. Apollo shares rose 3.8%, and Blackstone added 1%.Block (XYZ) shares jumped past 7% after the company late Thursday reported higher adjusted earnings and revenue that also beat analysts' estimates.Two Harbors Investment (TWO) shares rose 1.3% after the firm said it signed an amended merger agreement with CrossCountry Mortgage to increase the all-cash buyout offer to $12 per share from $11.30.Goldman Sachs-backed (GS) Go is seeking a valuation of about 200 billion Japanese yen ($1.28 billion) for its initial public offering in Tokyo, Bloomberg reported. Goldman was up 1.1%.

$APO$BX$GS$TWO$XYZ
Sectors

Sector Update: Financial

Financial stocks were lower late Friday afternoon, with the NYSE Financial Index decreasing 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.5%.The Philadelphia Housing Index was up 0.1, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.4%.Bitcoin (BTC-USD) rose 0.1% to $80,056, and the yield for 10-year US Treasuries lost 2.8 basis points to 4.36%.In corporate news, Apollo Global Management (APO) and Blackstone (BX) are among the private-credit firms involved in discussions with Broadcom (AVGO) on $35 billion in financing, Bloomberg reported. Apollo shares rose 3.8%, and Blackstone added 1%.

$APO$BX
Wire

Market Chatter: Apollo, Blackstone in Talks on $35 Billion Financing for Broadcom

Apollo Global Management (APO) and Blackstone (BX) are among the private-credit firms involved in discussions with Broadcom (AVGO) on $35 billion in financing, Bloomberg reported, citing people familiar with the matter.The financing would help Broadcom fund development of chips for AI workloads, the report said.The companies didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $130.52, Change: $+2.73, Percent Change: +2.14%

$APO$AVGO$BX
Wire

Apollo, Blackstone Mull $35 Billion Financing for Broadcom, Bloomberg Reports

Apollo, Blackstone Mull $35 Billion Financing for Broadcom, Bloomberg Reports

$APO$AVGO$BX
Wire

UBS Raises Price Target on Apollo Global Management to $158 From $138, Maintains Buy Rating

Apollo Global Management (APO) has an average rating of overweight and mean price target of $148.41, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $127.35, Change: $-0.41, Percent Change: -0.32%

$APO
Wire

Apollo Global Trades at Lower Discount Versus Peers, RBC Says

Apollo Global Management (APO) shares are trading in-line with historical average multiple and at a lower discount against its peers, RBC Capital Markets said in a Thursday note."We maintain our Sector Perform rating largely driven by relative valuation," the report said.The note said its Q1 performance was characterized by strong fee-related earnings growth, offset by weak spread-related earnings growth, driving a low adjusted net income per share growth.RBC raised its price target to $146 from $139 on rolling forward its valuation and higher estimates.Price: $127.33, Change: $-2.20, Percent Change: -1.70%

$APO
Research

Research Alert: CFRA Maintains Buy Rating On Shares Of Apollo Global Management, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target by $15 to $150 using a narrower equity risk premium that still reflects APO's strong 20%+ fee earnings growth and robust AUM growth. Our target reflects a forward P/E of 16.6x versus a three-year historical average of 16.3x forward earnings. We were too optimistic in our EPS outlook and have lowered our 2026 EPS by $0.50 to $9.00 and 2027's by $0.70 to $10.75, both near consensus, on projected revenue of $5.3B and $6.3B, respectively. A risk to our rating is share price volatility led by concerns about lower-quality direct loans or private equity exposure to AI's potential disruption of software companies. On the earnings call, APO stated that low-quality direct loans (non-investment grade) exposed to AI disruption in technology firms are not material to total AUM. Of $1,026B in total AUM, Credit represented $834B (81% of total) and Equity represented $192B (19%). For 2026, APO is guiding toward 20%+ fee earnings, with 75% of revenue from established Credit businesses and 25% from Equity.

$APO
Research

Research Alert: Apo Delivers Strong Q1 2026 Results With Record Fee-related Earnings

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:APO delivered strong Q1 2026 results with record fee-related earnings of $728M (+30% Y/Y) and adjusted net income of $1.94 per share. Total AUM surpassed the $1T milestone at $1.026T (+31% Y/Y) due to record inflows of $115B, while fee-generating AUM was $836B (+40% Y/Y). We think the ALT investment cycle is accelerating with higher private equity monetization activity, positioning APO as a market leader in private credit. Even with negative media on private credit, APO's Credit segment realized $108B in quarterly inflows and outflow of $20B. APO did not provide specific 2026 guidance, but trends are favorable, in our view. Management fees grew 24% Y/Y to $952M, with perpetual capital representing 60% of total AUM. We think APO is well-positioned for accelerated performance fee monetization with $74B in dry powder and superior credit quality at 11 bps losses versus 12 bps industry average. The firm returned $1.5B to shareholders through dividends and repurchases while implementing a new $4.0B buyback program.

$APO
Wire

JPMorgan Adjusts Apollo Global Management PT to $150 From $162, Maintains Overweight Rating

Apollo Global Management Inc (APO) has an average rating of overweight and mean price target of $140.76, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $130.34, Change: $+1.15, Percent Change: +0.89%

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Wire

Apollo Global Management's Hybrid Fund Raises $6.5 Billion

Apollo Global Management (APO) said Tuesday that the Apollo Hybrid Value Fund III raised $6.5 billion from new and existing investors, including pension funds, insurance companies, and sovereign wealth funds.The hybrid strategy focuses on investing in structured equity opportunities, including preferred and convertible securities, as well as provides capital to support growth initiatives, acquisitions, and balance sheet optimization, according to the company.Price: $130.59, Change: $+1.40, Percent Change: +1.08%

$APO
Wire

Top Midday Stories: GameStop Submits $55.5 Billion Bid to Acquire eBay; Amazon Launches Supply Chain Services

All three major US stock indexes were lower in late-morning trading Monday, after President Donald Trump announced over the weekend a plan to have the US guide cargo ships belonging to other nations safely through the Strait of Hormuz.In company news, GameStop (GME) said Sunday it submitted a non-binding offer to acquire all outstanding shares of eBay (EBAY) for $125 each. The $55.5 billion proposal is an equal mix of cash and stock, with the cash component supported by corporate reserves and up to $20 billion in potential financing from TD Securities, the company said. GameStop shares were down 7.9% around midday, while eBay shares were up 5.7%.Amazon.com (AMZN) has launched Amazon Supply Chain Services, opening its logistics network to businesses, the company said Monday. The new offering extends Amazon's freight, distribution, fulfillment and parcel shipping capabilities to retail, wholesale, and commercial businesses, the company said. Separately, Amazon-backed Anthropic has set up a standalone enterprise services firm alongside Blackstone (BX) and Goldman Sachs (GS) to integrate the Claude artificial intelligence platform into core business operations. Amazon shares were up 1.5%, while shares of FedEx (FDX) and United Parcel Service (UPS) were down 9.3% and 9.9%, respectively. Blackstone shares were down 0.9%, while Goldman shares were down 2.3%.American Express Global Business Travel, which is operated by Global Business Travel Group (GBTG), said Monday it has entered into a definitive agreement to be acquired by Long Lake Management for $9.50 per share in an all-cash deal valued at about $6.3 billion. Global Business Travel Group shares were up 57.3%.ADT (ADT) said Monday it priced a secondary public offering of 102 million common shares, sold by certain entities managed by affiliates of Apollo Global Management (APO) and representing all the remaining shares owned by the selling stockholders. The offering is expected to close on May 5, subject to customary conditions. ADT shares were down 6.4%, and Apollo shares were 0.3% lower.Norwegian Cruise Line (NCLH) reported Q1 adjusted earnings Monday of $0.23 per share, up from $0.10 a year earlier and above the FactSet consensus estimate of $0.14. Total Q1 revenue was $2.33 billion, up from $2.13 billion a year ago but below the FactSet consensus of $2.36 billion. For Q2, the company said it expects adjusted EPS of $0.38, below the FactSet consensus of $0.51. The company lowered its full-year 2026 adjusted EPS range to $1.45 to $1.79, from $2.38 prior outlook. Analysts polled by FactSet expect $2.10. Norwegian Cruise shares were down 8.7%.Price: $24.44, Change: $-2.09, Percent Change: -7.88%

$ADT$AMZN$APO$FDX$GBTG$GME$NCLH$UPS
Wire

ADT Prices Secondary Public Offering of Common Stock, Concurrent Share Repurchase

ADT (ADT) said Monday it priced a secondary public offering of 102 million common shares, sold by certain entities managed by affiliates of Apollo Global Management (APO) and representing all the remaining shares owned by the selling stockholders.The offering is expected to close on May 5, subject to customary conditions.ADT has also agreed to buy about 29.1 million common shares from the underwriters as part of the secondary public offering, at a price per share equal to the price per share to be paid by the underwriters to the selling stockholders, subject to the completion of the offering, according to the statement.The share repurchase will be made under ADT's existing $1.5 billion share repurchase plan. The underwriters will not receive any underwriting fees for the shares being repurchased by ADT, the company said.The company is not selling any shares and will not receive any proceeds from the offering.Shares of ADT fell more than 5% in Monday trading.Price: $7.12, Change: $-0.43, Percent Change: -5.70%

$ADT$APO
Treasury

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Monday as US-Iran Tensions Escalate Near Strait of Hormuz

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.3% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.03% in Monday's premarket activity as escalating tensions between the US and Iran near the Strait of Hormuz push oil prices higher.US stock futures were also lower, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.5%, and Nasdaq futures retreating 0.1% before the start of regular trading.The factory orders data for March will be released at 10 am ET.New York Federal Reserve President John Williams is slated to speak on Monday.In premarket activity, bitcoin was up by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.6% higher, Ether ETF (EETH) advanced 1.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.3%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.4%. The iShares US Consumer Staples ETF (IYK) was 0.5% lower. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) declined by 0.3%.Norwegian Cruise Line (NCLH) shares were down more than 7% pre-bell after the company lowered its outlook for 2026 adjusted earnings.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%, the Vanguard Health Care Index Fund (VHT) was down 0.4%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.2% lower.Evotec (EVO) stock was up more than 3% premarket after the company said it has nominated the first small molecule preclinical development candidate from its multi-target drug discovery collaboration in medical dermatology with Almirall.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.7% higher.CNA Financial (CNA) shares were down more than 2% pre-bell after the company reported lower Q1 core income.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.2%, while the Vanguard Industrials Index Fund (VIS) declined by 0.01% and the iShares US Industrials ETF (IYJ) was inactive.ADT (ADT) stock was down more than 2% before the opening bell after the company said it initiated a secondary public offering of 102 million shares held by entities managed by affiliates of Apollo Global Management (APO).EnergyThe iShares US Energy ETF (IYE) was down 0.4%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.5%.Equinor (EQNR) stock was up more than 2% before the opening bell after the company said it is extending key supplier deals for drilling and well services with an aggregate value of about 17 billion Norwegian kroner ($1.83 billion).TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained by 0.2%, and the iShares US Technology ETF (IYW) was 0.2% higher, while the iShares Expanded Tech Sector ETF (IGM) was down 0.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined by 0.01%, while the iShares Semiconductor ETF (SOXX) advanced by 0.01%.SAP (SAP) shares were up more than 1% in premarket activity after the company said it has agreed to acquire Dremio and Prior Labs in separate deals aimed at supporting its enterprise AI and data capabilities.CommoditiesFront-month US West Texas Intermediate crude oil rose by 3% to $105.10 per barrel on the New York Mercantile Exchange. Natural gas was up by 1.4% to $2.82 per 1 million British Thermal Units. The United States Oil Fund (USO) rose by 2%, while the United States Natural Gas Fund (UNG) was 1% higher.Gold futures for May were down by 1.7% at $4,567.80 an ounce on the Comex. Silver futures fell by 3.5% to $73.76 an ounce. SPDR Gold Shares (GLD) was 1.1% lower, and the iShares Silver Trust (SLV) declined by 2.8%.

Dow JonesNasdaq CompositeS&P 500$ADT$APO$BETH$BITO$CNA$EEM$EETH$EQNR$EVO$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NCLH$PMR$QQQ$RTH$SAP$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Commodities

Market Chatter: Investment Giants Vie for Shell Stake in LNG Canada

Private equity giants Apollo Global Management (APO), Blackstone (BX), and KKR (KKR) are the final contenders in a high-stakes auction for a significant portion of Shell's (SHEL) 40% stake in LNG Canada, Reuters reported Thursday, citing sources.The asset has become increasingly attractive as North American energy provides a stable alternative to supplies currently disrupted by the Iran war.Located with direct access to the Pacific, LNG Canada is the first major North American facility capable of shipping liquefied natural gas directly to key Asian markets.According to the report, the deal could be valued between $10 billion and $15 billion and allow Shell to monetize a portion of its interest and attract fresh capital for future expansions of the British Columbia-based facility.Shell intends to sell its exposure to both the first and second phases of the project to a single bidder rather than splitting the stake, the report noted.All involved parties, including the bidding firms, did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$APO$BX$KKR$SHEL

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