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Commodities

Eni's Plenitude Completes 330-MW Solar Project in Spain

Eni's (E) renewable energy arm, Plenitude, said on Tuesday it had started production at the 200-megawatt southern section of its Renopool solar project in Spain's Extremadura region, bringing the project's total installed capacity to 330 megawatts.The Renopool complex is projected to generate about 670 gigawatt-hours of electricity per year, enough to power hundreds of thousands of households.The project consists of a 130-MW northern plant, which began operations in June 2025, and the newly commissioned southern facility.Plenitude said that construction at the solar project began in February 2024 and was completed within the energy firm's planned two-year timeline.The solar complex incorporates about 565,000 bifacial photovoltaic modules, designed to capture sunlight from both sides to improve generation efficiency. Plenitude said the plant's layout was optimized to maximize land use while meeting environmental requirements.Plenitude currently operates about 1.8 gigawatts of renewable energy capacity in Spain, spanning solar and wind projects across Andalusia, Extremadura, Murcia, Castilla-La Mancha, Castilla y Leon, Galicia, La Rioja and Catalonia.The energy firm manages about 6 GW of renewable generation capacity globally, serves about 11 million customers and operates a network of about 23,000 public electric vehicle charging points.Price: $53.48, Change: $-0.84, Percent Change: -1.55%

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Wire

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index increasing 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.1%.The Philadelphia Oil Service Sector Index was climbing 3.8%, and the Dow Jones US Utilities Index fell 1.7%.Front-month West Texas Intermediate crude oil rose 0.6% to $91.06 a barrel, and the global benchmark Brent crude contract advanced 1.2% to $94.17 a barrel. Henry Hub natural gas futures fell 3% to $3.13 per 1 million BTU.In corporate news, Oklo (OKLO) shares gained 1.4% after the company said it has acquired Armec, a manufacturing and engineering firm, to expand its capabilities in reactor and fuel manufacturing programs.Eni (E) and Petronas said they have launched a 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia. Eni shares rose 1%.Alliance Resource Partners (ARLP) shares added 0.4% after the company said Monday it has agreed to buy certain general partner and limited partner interests in AllDale Minerals III and AllDale Minerals IV for about $206.2 million.

$ARLP$E$OKLO
Sectors

Sector Update: Energy Stocks Rise Monday Afternoon

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index up 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.1%.The Philadelphia Oil Service Sector Index was climbing 3.4%, and the Dow Jones US Utilities Index was shedding 1.6%.Oil prices were higher in Monday trading, but off session highs, as Iran reportedly halted military operations against Israel after fresh clashes erupted between the two countries. Iran has suspended strikes against Israel, the former's Ministry of Foreign Affairs told CNBC on Monday. The two countries traded strikes on Sunday night, according to reports. Tehran vowed to resume attacks if Israel continues to target Iran-backed Hezbollah in Lebanon, according to the CNBC report.Front-month West Texas Intermediate crude oil rose 0.9% to $91.34 a barrel, and the global benchmark Brent crude contract was advancing 1.5% to $94.51 a barrel. Henry Hub natural gas futures fell 2.9% to $3.14 per 1 million BTU.In corporate news, Oklo (OKLO) shares gained 2% after the company said it has acquired Armec, a manufacturing and engineering firm, to expand its capabilities in reactor and fuel manufacturing programs.Eni (E) and Petronas said they have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia. Eni shares rose 1%.Alliance Resource Partners (ARLP) shares were fractionally higher after the company said Monday it has agreed to buy certain general partner and limited partner interests in AllDale Minerals III and AllDale Minerals IV for about $206.2 million.

$ARLP$E$OKLO
Sectors

Sector Update: Energy Stocks Advance Premarket Monday

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.7% higher.The United States Oil Fund (USO) was up 1.9% and the United States Natural Gas Fund (UNG) was 2.8% lower.Front-month US West Texas Intermediate crude oil was 1.3% higher at $91.69 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.7% to $94.68 per barrel, and natural gas futures were down 3.1% at $3.13 per 1 million British Thermal Units.Eni (E) and Petronas have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia, the companies said. Shares of Eni were up more than 1% pre-bell.Devon Energy (DVN) stock was up more than 1% after the company said between 66% and 98% of notes across seven bond series were tendered early to its exchange offers.SLB (SLB) said its OneSubsea joint venture won a contract from BP (BP) to provide a subsea boosting system for the Thunder Horse development in the Gulf of America. SLB shares were 0.5% higher premarket.

$BP$DVN$E$SLB$UNG$USO$XLE
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday as Chip Stocks Rebound

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.9% in Monday's premarket activity, as semiconductor shares rebound from Friday's selloff.US stock futures were also higher, with S&P 500 Index futures up 0.8%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 1.4% before the start of regular trading.The New York Fed's inflation expectations report for May will be released at 11 am ET.In premarket action, bitcoin was up by 3.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.4% higher, Ether ETF (EETH) advanced 6.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.01%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, while the Vanguard Industrials Index Fund (VIS) was up 0.8% and the iShares US Industrials ETF (IYJ) was inactive.Graham (GHM) stock was down more than 7% before the opening bell after the company reported lower fiscal Q4 adjusted net income.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 1.8%, and the iShares US Technology ETF (IYW) was 1.8% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 3.8%, while the iShares Semiconductor ETF (SOXX) rose by 4.1%.Nvidia (NVDA) shares were up more than 2% in premarket activity after dropping by 6.2% on Friday. The company will expand artificial intelligence infrastructure in South Korea, beginning with a 55-megawatt deployment at Naver's GAK Sejong data center. The chipmaker also closed a multi-year deal with SK hynix to design future generations of artificial intelligence memory hardware.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.8%. The iShares US Consumer Staples ETF (IYK) advanced by 0.1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.8%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) rose by 1%.Ingredion (INGR) shares were up 0.8% pre-bell after the company said it has launched an all-cash tender offer to acquire Tate & Lyle, valuing the specialty ingredients company at about 3.7 billion British pounds ($5 billion).HealthcareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%, the Vanguard Health Care Index Fund (VHT) was down 0.2%, while the iShares US Healthcare ETF (IYH) slipped 0.2%. The iShares Biotechnology ETF (IBB) was 0.2% higher.Eli Lilly (LLY) stock was up more than 1% premarket after the drugmaker said its experimental obesity drug retatrutide delivered significant weight loss in two clinical studies and showed "meaningful" improvements in knee osteoarthritis pain and sleep apnea.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.Blackstone (BX) shares were up 0.4% pre-bell after closing Friday with a 2.7% fall. The Financial Times reported the company is preparing to offload more than $2 billion in private fund stakes through a structured bond deal.EnergyThe iShares US Energy ETF (IYE) was up 0.7%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.7%.Eni (E) stock was up nearly 1% before the opening bell, following a 1.1% decline in the prior trading session. Petronas and Eni said they have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.9% to $91.33 per barrel on the New York Mercantile Exchange. Natural gas was down 2.9% to $3.13 per 1 million British Thermal Units. The United States Oil Fund (USO) advanced by 2%, while the United States Natural Gas Fund (UNG) was 2.4% lower.Gold futures for July retreated by 0.3% to $4,354.00 an ounce on the Comex. Silver futures declined by 0.7% to $68.60 an ounce. SPDR Gold Shares (GLD) was up by 0.2%, and the iShares Silver Trust (SLV) increased by 0.5%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BX$E$EEM$EETH$EXI$FAS$FAZ$GHM$GLD$IBB$IGM$IGV$INGR$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LLY$NVDA$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Energy

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.6% higher.The United States Oil Fund (USO) was up 2.1% and the United States Natural Gas Fund (UNG) was 2.7% lower.Front-month US West Texas Intermediate crude oil was 1.3% higher at $91.72 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.8% to $94.74 per barrel, and natural gas futures were down 2.7% at $3.14 per 1 million British Thermal Units.Eni (E) and Petronas have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia, the companies said. Shares of Eni were up more than 1% pre-bell.

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Commodities

Italy's Eni, Malaysia's Petronas Launch Indonesia JV Searah, Eyeing Synergies

Italy's Eni and Malaysia's state-owned Petronas have launched a 50-50 independent joint venture called Searah, which will combine key businesses in Indonesia and Malaysia, Eni said in a press release on its website on Monday.The venture will unite 19 gas-producing and in-development assets, 14 of which are in Indonesia and five of which are in Malaysia.Searah will start out with an initial production base of more than 300,000 barrels of oil equivalent per day, to surpass 500,000 boe/d of sustainable production within three years, the statement said.Eni said that all regulatory requirements had been fulfilled and permissions obtained. The venture starts with a $6 billion revolving credit facility and a pipeline of expected investments of more than $20 billion in the next five years.Those investments will foster the development of more than 3 billion barrels of oil equivalent from discovered resources as well as making possible additional exploration in areas with potentially a total of several billion barrels of oil equivalent.ENI said its environmental and sustainability objectives are aligned with the Petronas vision for Searah and said the companies would achieve significant synergies in logistics and technology through the venture.All Eni and Petronas staff in Indonesia have now transitioned to employment at Searah, the statement said.The launch of Searah comes after final investment decisions by Eni in March for natural gas assets including Gendalo, Gandang fields, Geng North and Gehem fields.The assets hold nearly 10 trillion cubic feet of gas and about 550 million barrels of associated condensate. Production is expected to start in 2028.Eni has been present in Indonesia since 2001 and has an upstream portfolio of assets across exploration, development and production with net production currently of about 90,000 boepd.

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Equities

Eni, Petronas Launch 50/50 Joint Venture in Indonesia, Malaysia

Eni (E) and Petronas have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia, the companies said Monday.Searah includes a portfolio of 14 gas-producing and development assets in Indonesia and five in Malaysia, starting from an initial base in excess of more than 300,000 barrels of oil equivalent per day, increasing to 500,000 within the next three years, the companies said.All Malaysian and Indonesian regulatory and governmental approvals have been obtained, the companies said.The joint venture has also secured a $6 billion revolving credit facility, the companies said.

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Sectors

Sector Update: Energy Stocks Decline Friday Afternoon

Energy stocks declined Friday afternoon with the NYSE Energy Sector Index falling 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 1.2%.The Philadelphia Oil Service Sector Index slumped 3.5%, and the Dow Jones US Utilities Index advanced 1.2%.In sector news, skirmishes continued overnight between Hezbollah and Israel in southern Lebanon after the Iran-backed militant group rejected a US-brokered proposal aimed at securing a broader truce, Bloomberg reported.US President Donald Trump said he would meet with Iranian Supreme Leader Ayatollah Mojtaba Khamenei if a deal is finalized to end the US-Iran war.West Texas Intermediate crude oil fell 3.2% to $90.04 a barrel, and global benchmark Brent declined 2.2% to $92.96 a barrel. Henry Hub natural gas futures dropped 3.5% to $3.22 per 1 million BTU.In corporate news, Eni (E) signed a petroleum exploration, development and production license agreement with the government of Gambia for the offshore block A1. Eni shares dropped 0.9%.BP (BP) agreed to subscribe for 10 million British pounds ($13.5 million) in convertible loan notes and secure exclusive crude oil marketing rights in new agreements, Coastal Africa Group said. BP stock fell 1.4%.Turbo Energy (TURB) regained compliance with Nasdaq's minimum stockholders' equity requirement after strengthening its balance sheet through $5 million in capital raises. Turbo shares fell 3.4%.

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Oil & Energy

Eni Signs Exploration and Production Agreement for Gambia Block A1

Eni S.p.A (E) signed an exploration, development, and production agreement for the offshore Block A1 area in The Gambia, the company said Friday.The agreement, signed with The Gambia's Ministry of Energy and Petroleum, grants Eni rights to explore and develop the offshore block, according to the company.Block A1 covers about 1,300 square kilometers and spans water depths ranging from 1,250 meters to 3,300 meters in a hydrocarbon-bearing region along the Atlantic margin, Eni said.Eni said the award supports its strategy of building a geographically diversified exploration portfolio across proven, emerging and frontier regions with significant resource potential.Price: $53.80, Change: $-0.61, Percent Change: -1.12%

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Sectors

Sector Update: Energy Stocks Advance Pre-Bell Friday

Energy stocks were advancing pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%The United States Oil Fund (USO) was down 0.9% and the United States Natural Gas Fund (UNG) was 1.8% lower.Front-month US West Texas Intermediate crude oil was 1.2% lower at $91.90 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.9% to $94.16 per barrel, and natural gas futures were down 1.2% at $3.30 per 1 million British Thermal Units.BP (BP) agreed to subscribe for 10 million British Pounds ($13.5 million) in convertible loan notes and secure exclusive crude oil marketing rights in new agreements, Coastal Africa Group said. BP stock was 0.5% lower premarket.Eni (E) has signed a petroleum exploration, development and production license agreement with the government of Gambia for the block A1 offshore the republic, the company said. Shares of Eni were down 0.1% pre-bell.

$BP$E$UNG$USO$XLE
Equities

Eni Signs Petroleum Exploration, Production License Deal for Offshore Gambia Block

Eni (E) has signed a petroleum exploration, development and production license agreement with the government of Gambia for the block A1 offshore the republic, the company said Friday.The block covers 1,300 square kilometers.The deal marks Eni's entry into Gambia, the company said.

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Oil & Energy

Libya Pushes Ahead With Refinery Restart as Energy Sector Gains Momentum, Kpler Says

Libya's plan to restart the 220,000-barrel-per-day Ras Lanuf refinery could curb fuel imports and reduce crude shipments to Europe, Kpler said in a note on Wednesday.After reaching an agreement with its Emirati partner in mid-May, Libya's National Oil, also known as NOC, took full ownership of Ras Lanuf, ending a years-long dispute and clearing the way for refurbishment work, Kpler said.Kpler expects Libya's oil production to hold near 1.35 million b/d to 1.4 million b/d through 2027, although the firm believes the refinery is more likely to return during the second half of 2027 than within the timeline suggested by the NOC.Libya's energy sector gained momentum this year as TotalEnergies (TTE) and ConocoPhillips (COP) extended the Waha Oil concession through 2050 in January, followed by the country's first licensing round in 17 years in February, Kpler said.Repsol-led groups, MOL, the Eni-QatarEnergy partnership, Chevron (CVX) and Aiteo secured the licenses, while joint projects with Eni (E), Repsol and Sonatrach resulted in three new hydrocarbon discoveries in April, Kpler said.Libya currently refines about 100,000 b/d, with Zawiya accounting for most of that volume, while Marsa El Brega processes about 9,000 b/d, Sarir handles 10,000 b/d and Tobruk contributes roughly 20,000 b/d, Kpler estimates.Libya consumes as much as 250,000 b/d of transport fuels, including 90,000 b/d to 100,000 b/d of gasoline and 140,000 b/d to 150,000 b/d of diesel, Kpler data show.To meet that demand, Libya imports over 150,000 b/d of refined products, sourcing gasoline mainly from Italy, the Netherlands, Belgium and Spain, while diesel supplies largely come from Italy and Turkey.If Ras Lanuf resumes operations, Libya could replace a large share of those imports with domestic production.The refinery would use Amna, Sarir and Mesla crude grades, which currently account for 270,000 b/d to 300,000 b/d of exports, potentially forcing buyers in Italy and the UK to find alternative supplies, Kpler said.Price: $89.62, Change: $+0.22, Percent Change: +0.25%

$COP$CVX$E$TTE
Asia Markets

European Equities Traded in the US as American Depositary Receipts Track Lower in Wednesday Trading

European equities traded in the US as American depositary receipts were declining late Wednesday morning, falling 0.58% to 1,880.17 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and petroleum refiner Equinor (EQNR), which rose 2.1% and 1.3%, respectively. They were followed by oil and gas company Eni (E) and biopharmaceutical company argenx (ARGX), which were up 1% and 0.5%, respectively.The decliners from continental Europe were led by internet ad firm Criteo (CRTO) and biopharmaceutical company Cellectis (CLLS), which fell 7% and 4.7%, respectively. They were followed by biotech firm Evaxion (EVAX) and software company SAP (SAP), which were down 4.6% and 4.5%, respectively.The gainers from the UK were led by Mereo BioPharma Group (MREO), which advanced 5.6%. It was followed by pharmaceutical company Silence Therapeutics (SLN) and medical device maker Smith & Nephew (SNN), which increased 4.8% and 2%, respectively.The decliners from the UK and Ireland were led by communications company WPP (WPP) and software company Endava (DAVA), which dropped 4.5% and 4.4%, respectively. They were followed by lender Barclays (BCS) and biotech firm Autolus Therapeutics (AUTL), which lost 2.4% and 1.7%, respectively.

$ARGX$AUTL$BCS$CLLS$CRTO$DAVA$E$EQNR$EVAX$MREO$NCNA$NOK$SAP$SLN$SNN$WPP
Sectors

Sector Update: Energy Stocks Decline Premarket Friday

Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.5% lower.The United States Oil Fund (USO) was down 2.2% and The United States Natural Gas Fund (UNG) was 2.6% higher.Front-month US West Texas Intermediate crude oil was 1.9% lower at $87.18 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.9% to reach $91.98 per barrel, and natural gas futures were up 5% at $3.04 per 1 million British Thermal Units.Chevron's (CVX) oil production at its Tengiz field in Kazakhstan dropped significantly on Tuesday after an accident, Reuters reported, citing industry sources. Shares of Chevron were down 0.3% pre-bell.Eni (E) Industrial Evolution and Seri Industrial agreed on a joint project to build an integrated industrial supply chain in the lithium iron phosphate battery sector, the oil major said. Eni shares were 0.2% lower premarket.

$CVX$E$UNG$USO$XLE
Equities

Eni Teams Up With Seri Industrial to Develop Battery Supply Chain

Eni (E) Industrial Evolution and Seri Industrial agreed on a joint project to build an integrated industrial supply chain in the lithium iron phosphate battery sector, the oil major said Friday.As part of the deal, Eni Industrial Evolution is acquiring a 30% stake in a new company established by Seri Industrial's FIB for 55 million euros ($64.1 million) plus any price adjustments, the company said.The project is aimed at producing lithium iron phosphate battery cells and modules and assembling stationary energy storage for electric mobility, Eni said.The deal is expected to close within five days, the company said.

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Asia Markets

European Equities Traded in the US as American Depositary Receipts Decline in Wednesday Trading

European equities traded in the US as American depositary receipts were tracking lower late Wednesday morning, declining 0.48% to 1,880.02 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by internet advertising firm Criteo (CRTO) and biopharmaceutical company argenx (ARGX), which rose 5% and 2.8% respectively. They were followed by consumer goods company Unilever (UL) and biotech firm BioNTech (BNTX), which were up 2.1% and 1.9% respectively.The decliners from continental Europe were led by telecommunications companies Ericsson (ERIC) and Nokia (NOK), which dropped 4.1% and 3.4% respectively. They were followed by semiconductor company Sequans Communications (SQNS) and oil and gas company Eni (E), which lost 3.3% and 3% respectively.The gainers from the UK were led by biotech firm Autolus Therapeutics (AUTL) and software company Endava (DAVA), which advanced 3.7% and 3.4% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and alcoholic beverage company Diageo (DEO), which increased 3% and 2.7% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Akari Therapeutics (AKTX) and oil and gas company BP (BP), which fell 13% and 3.2% respectively. They were followed by utilities company National Grid (NGG) and oil and gas company Shell (SHEL), which were down 2.2% and 2.1% respectively.

$AKTX$ARGX$AUTL$BNTX$BP$CRTO$DAVA$DEO$E$ERIC$NGG$NOK$SHEL$SLN$SQNS$UL
Commodities

Exchange-Traded Funds, Equity Futures Rise Pre-Bell Tuesday Amid Renewed Hopes Around Middle East Peace Deal

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.7% and the actively traded Invesco QQQ Trust (QQQ) was 1% higher in Tuesday's premarket activity amid renewed hopes of peace between the US and Iran after President Trump said talks are "proceeding nicely."US stock futures were higher, with S&P 500 Index futures up 0.7%, Dow Jones Industrial Average futures advancing 0.6%, and Nasdaq futures gaining 1% before the start of regular trading.The Chicago Federal Reserve Bank's monthly National Activity Index rebounded to a reading of 0.14 in April from minus 0.15 in March, compared with expectations for a smaller gain to minus 0.03 in survey of analysts compiled by Bloomberg as of 7:30 am ET.The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index declined to minus 23.6 in May from minus 16.5 in the previous month, compared with the expectations for an increase to minus 13 in a survey compiled by Bloomberg, indicating more widespread contraction in the sector.The Case-Shiller National Home Price index rose by 0.7% in March before seasonal adjustment following a 0.3% increase in February.Consumer confidence data for May is due at 10 am ET.The Dallas Fed's manufacturing reading for May will be released at 10:30 am ET.In premarket activity, bitcoin was down by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.8% higher, Ether ETF (EETH) advanced 2.9%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.4%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.7%, while the Vanguard Industrials Index Fund (VIS) lost 0.03%, and the iShares US Industrials ETF (IYJ) was flat.Elbit Systems (ESLT) stock was up more than 10% before the opening bell after the company reported higher Q1 non-GAAP earnings and revenue.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.1% lower.FinVolution (FINV) shares were up more than 5% pre-bell after the company reported higher-than-expected Q1 adjusted earnings and net revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained by 0.02%. The iShares US Consumer Staples ETF (IYK) was down 0.6%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased by 0.6%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.3% higher.Ferrari (RACE) shares were down more than 3% pre-bell a day after the company said it has launched a new all-electric Luce sports car, expanding its lineup with a dedicated electric platform.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) increased by 1.5%, and the iShares US Technology ETF (IYW) was 1.2% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained by 4.1%, while the iShares Semiconductor ETF (SOXX) rose by 2.8%.WeRide (WRD) shares were up more than 1% in premarket activity after the company said it will operate its autonomous Robobus at the Roland-Garros for a third consecutive year with Renault Group.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 1.2%.Eni (E) stock was down more than 2% before the opening bell a day after falling 1.4% at the prior close. The company and its partners, Petroci and Vitol, approved the final investment decision for Cote d'Ivoire's Baleine Phase 3 project, advancing development of the country's largest hydrocarbon discovery.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.4%, the Vanguard Health Care Index Fund (VHT) was up 0.6%, while the iShares US Healthcare ETF (IYH) gained by 0.9%. The iShares Biotechnology ETF (IBB) was 0.4% higher.Eli Lilly (LLY) stock was up more than 1% premarket after the company said it agreed to acquire Curevo, LimmaTech Biologics and Vaccine in deals worth up to nearly $3.83 billion in total.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 1.2% to $97.49 per barrel on the New York Mercantile Exchange. Natural gas was down 1.2% at $2.98 per 1 million British Thermal Units. The United States Oil Fund (USO) retreated by 0.7%, while the United States Natural Gas Fund (UNG) was 0.9% lower.Gold futures for July retreated by 0.5% to $4,521.20 an ounce on the Comex. Silver futures declined by 0.8% to $76.09 an ounce. SPDR Gold Shares (GLD) was down by 0.4%, and the iShares Silver Trust (SLV) fell by 1.3%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$E$EEM$EETH$ESLT$EXI$FAS$FAZ$FINV$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LLY$PMR$QQQ$RACE$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$WRD$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Oil & Energy

Eni, Partners Approve Baleine Phase 3 in Ivory Coast, Target 150,000 Barrels per Day Oil Output

Italian energy giant Eni (E) and partners Petroci and Vitol approved the final investment decision for the Baleine Phase 3 project in offshore Cote d'Ivoire, paving the way for a major increase in oil and gas production from the country's largest-ever hydrocarbon discovery.The Phase 3 development is expected to raise oil production at the Baleine field to 150,000 barrels per day from 60,000 bpd, while natural gas output is set to climb to 200 million cubic feet per day from 80 MMcf/d, according to the company's statement on Monday.The project was approved during a ceremony held in Abidjan, with the country's Minister of Mines, Petroleum and Energy, Mamadou Sangafowa-Coulibaly.It involves the development of a new floating, production, storage and offloading unit, aimed at improving operational efficiency while lowering environmental impact.Eni said the project will continue using its phased, fast-track development approach already deployed in Baleine's earlier phases, allowing production growth while leveraging existing infrastructure and controlling costs.The company also noted that all of the project's output will be allocated to the domestic market, supporting the Ivory Coast's energy needs, expanding electricity generation, while adding to the country's industrial development.Claudio Descalzi, the CEO of ENI, said that the project reflects the company's commitment to "strengthening energy security, supporting local economic development and advancing a lower-carbon energy future."

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Equities

Eni Expands West Africa Presence With Baleine Phase 3 Approval

Eni (E) and partners Petroci and Vitol approved the final investment decision for Cote d'Ivoire's Baleine Phase 3 project, advancing development of the country's largest hydrocarbon discovery, Eni said Monday.The phase 3 development is expected to raise oil production to 150,000 barrels per day from 60,000 barrels and increase gas output to 200 million cubic feet per day from 80 million cubic feet per day, the company added.Eni shares were down 0.6% in premarket activity Tuesday.

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