Wire
Eni Engages Morgan Stanley to Explore Potential LNG Assets Deal With Certain Funds, Reuters Reports
Eni Engages Morgan Stanley to Explore Potential LNG Assets Deal With Certain Funds, Reuters Reports
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Eni S.p.A.
$ENYSEEnergy
153 stories mentioning Eni S.p.A.Updated just now
Eni's renewable arm Plenitude completed a 330-MW solar project in Spain as energy stocks rose late in the session.
Commodities
Eni Tests HVO Biofuel on MSC Cruise Ship, Cuts GHG Emissions by 80%
Eni (E) and MSC Cruises completed a 2,000-hour marine biofuel trial that cut greenhouse gas emissions by about 80%, Eni said Tuesday.Eni and MSC Cruises tested Enilive's Hydrogenated Vegetable Oil diesel on the cruise ship MSC Opera without modifying the vessel's engine.One of the MSC Opera engines was powered with 100% HVO fuel for about 2,000 hours while recording engine efficiency and emissions performance data during the trial.The trial showed that marine engines can use pure HVO biofuel immediately without technological upgrades, while maintaining performance levels similar to those of conventional fossil marine fuels, Eni said.The trial reduced nitrogen oxide emissions by 16%, lowered particulate emissions and cut life-cycle greenhouse gas emissions by around 80% versus traditional marine fuels through the use of fully biogenic HVO feedstocks.Wartsila supported the collection and evaluation of engine data during the tests, while Bureau Veritas independently certified the experimental results, according to Eni.HVO biofuel offers an immediate solution for shipping companies seeking to meet FuelEU Maritime emissions targets and lower compliance costs, Enilive Chief Executive Officer Stefano Ballista said.Enilive produces HVO at biorefineries in Venice and Gela using waste materials including used cooking oil, animal fats and agri-food industry residues, Ballista added.HVO, liquefied natural gas and bio-LNG can accelerate shipping decarbonization as MSC targets net-zero greenhouse gas emissions by 2050, MSC Cruises Chief Energy Transition Officer Michele Francioni said.Price: $55.52, Change: $+0.05, Percent Change: +0.10%
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Commodities
Market Chatter: Eni Reportedly Explores 1 Billion Euro LNG Asset Funding Deal, Reuters Says
Eni (E) has asked Morgan Stanley to assist in raising funds from infrastructure investors, including Apollo Global Management, KKR, and Stonepeak, in a potential transaction backed by its floating liquefied natural gas assets, Reuters reported on Tuesday, citing people familiar with the matter.According to Reuters, discussions remain at an early stage, and a transaction is not guaranteed, as the structure and terms are still subject to change.The proposed deal could raise at least 1 billion euros ($1.17 billion) for Eni, one of the sources told Reuters.Neither Eni, Morgan Stanley, nor the named investors immediately responded torequests for comment.Reuters reported that the plan aligns with Eni's broader strategy to attract infrastructure capital to free up balance-sheet capacity for new upstream oil, gas, and LNG developments.One structure under consideration would involve an infrastructure fund providing an initial cash injection into a special-purpose vehicle, which would then be entitled to receive cash flows generated by Eni's FLNG assets.The discussions come amid intensifying global competition for LNG cargoes across Europe and Asia, as supply disruptions linked to geopolitical tensions continue to ripple through markets.Eni has built a significant FLNG portfolio, including three floating liquefaction units operating offshore Mozambique and Congo, processing natural gas for export. The company is also advancing FLNG capacity, including a multi-billion-dollar project in Mozambique and two additional units for YPF in Argentina, targeted for completion by 2030.If completed, the structure would provide investors with exposure to long-term cash flows from assets across Africa and other regions outside the Middle East, offering diversification away from geopolitically sensitive supply zones.(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: $55.45, Change: $-0.01, Percent Change: -0.02%
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Equities
Eni Launches $3 Billion Bond Offering
Eni (E) has successfully placed $3 billion of new fixed-rate bonds in two tranches with 10-year and 30-year maturities, the company said late Monday.The offering includes $1.5 billion of 5.250% notes due May 2036, priced at 99.172%, and $1.5 billion of 6.000% notes due May 2056, priced at 98.105%, Eni said.The company said the offering attracted about $15 billion in demand from about 240 institutional investors for each tranche.Proceeds from the offering are expected to be used to fund ordinary financing needs.
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Commodities
Eni Reports High Flow Rates at Indonesia's Geliga 1 Offshore Gas Discovery
Eni (E) said on Friday its Geliga 1 gas discovery offshore Indonesia has delivered strong test results, reinforcing the commercial potential of the country's Kutei Basin and supporting plans for development.The Italian energy giant said the Drill Stem Test on the well recorded flow rates of up to 60 million standard cubic feet per day, constrained by rig capacity, with minimal pressure drawdown.Based on the results, Eni estimates the well could sustain output of around 200 mmscf/d of gas and roughly 10,000 barrels per day of condensate.The well is located in the Ganal Block of the Kutei Basin, about 70 kilometers offshore East Kalimantan, at a water depth of about 2,000 meters. It was drilled to a total depth of approximately 5,100 metres, encountering a substantial gas column in Miocene-age reservoirs with strong petrophysical characteristics.Eni estimates the discovery holds around 5 trillion cubic feet of gas and 300 million barrels of condensate in place. The adjacent undeveloped Gula discovery contains a further 2 Tcf of gas and 75 million barrels of condensate.Combined, Geliga and Gula could underpin potential output of about 1,000 mmscf/d of gas and 80,000 bpd of condensate, according to the company's evaluations.Eni said it is preparing a Plan of Development for submission to Indonesian authorities in the coming weeks, aiming to fast-track a third production hub in the Kutei Basin, alongside existing developments in the North and South hubs.The company is also studying the expansion of liquefaction capacity at the Bontang LNG plant, which could include restarting up to two idle LNG trains.The Ganal production-sharing contract is operated by Eni, which holds an 82% stake, while China's Sinopec holds 18%.The asset is part of a broader portfolio that will be transferred to Searah, a joint venture between Eni and Malaysia's Petronas, covering 19 blocks across Indonesia and Malaysia. The transaction is expected to close in the second quarter of 2026.Price: $53.54, Change: $+0.95, Percent Change: +1.81%
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Asia Markets
European Equities Traded in the US as American Depositary Receipts Rise Friday
European equities traded in the US as American depositary receipts were higher late Friday morning, rising 0.78% to 1,826.25 on the S&P Europe Select ADR Index, which is up 1.3% for the week so far.From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and biotech firm Evaxion (EVAX), which rose 4.7% and 4.4% respectively. They were followed by oil and gas company Eni (E) and lender Banco Bilbao Vizcaya Argentaria (BBVA), which increased 2.6% and 2.5% respectively.The decliners from continental Europe were led by software firm SAP (SAP) and semiconductor firm Sequans Communications (SQNS), which fell 1.6% and 1.2% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and internet browser company Opera (OPRA), which were off 1% and 0.9% respectively.The gainers from the UK were led by Lloyds Banking Group (LYG), which rose 3%. It was followed by telecommunications operator Vodafone Group (VOD) and InterContinental Hotels Group (IHG), which were up 2.7% and 2.6% respectively.The decliners from the UK and Ireland were led by Biodexa Pharmaceuticals (BDRX) and educational publisher Pearson (PSO), which lost 4.9% and 1.5% respectively. They were followed by medical device maker Smith & Nephew (SNN) and software company Endava (DAVA), which fell 1.3% and 1.2% respectively.
$BBVA$BDRX$DAVA$DBVT$E$EVAX$IHG$LYG$NOK$OPRA$PSO$SAP$SNN$SQNS$VOD
Asia Markets
US Equity Futures Gain Pre-Bell as Trump Says Ceasefire Still in Effect Despite Skirmish in Strait of Hormuz
US equity futures were edging higher pre-bell Friday as traders continued to monitor developments in the Middle East conflict, with the US and Iran exchanging fire, while President Donald Trump said the ceasefire was still in effect.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 0.9% higher.The US and Iran traded fire in the Strait of Hormuz, with each side claiming that the other started the attack. In a post on Truth Social, Trump said there was no damage done to three Destroyer vessels, but "great damage" to Iranian boats. "We'll knock them out a lot harder, and a lot more violently, in the future, if they don't get their Deal signed, FAST!" he added.Trump told reporters that the ceasefire was still in effect. The US is still waiting for Iran's response to its proposal to end the war and postpone nuclear talks to a later date.Traders absorbed the latest round of earnings, with Enbridge (ENB) reporting lower Q1 adjusted earnings amid higher revenue and Brookfield Asset Management (BAM) posting increases in Q1 distributable earnings and revenue.Oil prices were largely unchanged, with front-month global benchmark North Sea Brent crude flat at $100.10 per barrel and US West Texas Intermediate crude also flat at $94.79 per barrel.The April national unemployment rate was reported at 4.3%, unchanged from the prior month and meeting estimates compiled by Bloomberg.The University of Michigan consumer sentiment index for May, slated for 10 am ET, is expected at 49.5, down from 49.8 previously.There will be a panel discussion featuring Fed Vice Chair for Supervision Michelle Bowman, Fed Governor Christopher Waller, San Francisco Fed President Mary Daly, and Chicago Fed President Austan Goolsbee at 7:30 pm ET.In other world markets, Japan's Nikkei closed 0.2% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.9% lower in Europe's early afternoon session.In equities, Cloudflare (NET) shares fell 16% after the company said it expected to reduce its workforce by about 1,100 people as part of a planned restructuring, as well as incurring charges of $140 million to $150 million in connection with the plan. CoreWeave (CRWV) stock was down 6.1% after the company reported a wider-than-expected Q1 net loss. HubSpot (HUBS) shares dropped 24% after the company issued lower-than-expected Q2 revenue guidance.On the winning side, Sony (SONY) stock was up 2.9% after the company's subsidiary Sony Semiconductor Solutions and Taiwan Semiconductor Manufacturing (TSM) said they signed a non-binding memorandum of understanding to create a strategic partnership focused on developing and manufacturing next-generation image sensors. Eni (E) shares rose 2.6% after the company said the first tranche of its new share buyback program will be launched in the coming days. Earlier, Eni also said its Geliga-1 offshore Indonesia discovery delivered strong drill stem test results, confirming robust reservoir productivity.
Dow JonesNasdaq CompositeS&P 500$BAM$CRWV$E$ENB$HUBS$NET$SONY$TSM
Wire
Eni to Launch First Tranche of New Stock Buyback Program
Eni (E) said Thursday that the first tranche of the company's new share buyback program will be launched in the next days, following authorization by shareholders on Wednesday.The first tranche will entail a total of up to 5.1 million shares of the company, to be used to serve the 2026-2028 Long-Term Incentive Plan, Eni said.Eni said that its 2026 share buyback program will have a total amount of 2.8 billion euros ($3.29 billion), which may be increased to 4 billion euros in case of upside scenarios in its cash flow statement.Price: $52.78, Change: $-1.14, Percent Change: -2.11%
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Equities
Eni Advances Indonesia Gas Development Plans After Successful Geliga-1 Well Test
Eni's (ENI) Geliga-1 offshore Indonesia discovery delivered strong drill stem test results, confirming robust reservoir productivity and underscoring the strategic significance of the Kutei Basin, the company said Thursday.During testing, the well flowed at up to 60 million standard cubic feet per day, constrained by rig capacity and with minimal pressure drawdown. Eni estimates the well could sustainably produce about 200 MMSCFD of gas and 10,000 barrels per day of condensate.Eni drilled Geliga-1 in the Ganal Block about 70 km offshore East Kalimantan in roughly 2,000 meters of water, encountering a major Miocene gas column estimated to contain about 5 trillion cubic feet of gas and 300 million barrels of condensate in place, it said.Eni, which operates the Ganal PSC with an 82% stake alongside Sinopec's 18%, plans to transfer the asset to its proposed Eni-PETRONAS joint venture, Searah, which is expected to close in Q2 2026, it added.
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Asia Markets
European Equities Traded in the US as American Depositary Receipts Climb Sharply Higher in Wednesday Trading
European equities traded in the US as American depositary receipts were tracking higher late Wednesday morning, rising 1.98% to 1,843.18 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by accommodations booking company trivago (TRVG) and lender ING Group (ING), which advanced 14% and 5% respectively. They were followed by biopharmaceutical company Cellectis (CLLS) and lender Banco Santander (SAN), which climbed 4.8% and 4.2% respectively.The decliners from continental Europe were led by internet advertising firm Criteo (CRTO) and petroleum refiner Equinor (EQNR), which shed 18% and 8.4% respectively. They were followed by semiconductor company Sequans Communications (SQNS) and oil and gas company Eni (E), which dropped 5.8% and 4.5% respectively.The gainers from the UK were led by biopharmaceutical company Akari Therapeutics (AKTX) and insurance company Prudential (PUK), which rose 9.4% and 6.2% respectively. They were followed by mining company BHP Group (BHP) and lender Barclays (BCS), which were up 5.3% and 5.2% respectively.The decliners from the UK and Ireland were led by biopharmaceutical companies Mereo BioPharma Group (MREO) and NuCana (NCNA), which fell 5.1% and 4% respectively. They were followed by oil and gas companies BP (BP) and Shell (SHEL), which lost 3.7% and 2.7% respectively.
$AKTX$BCS$BHP$BP$CLLS$CRTO$E$EQNR$ING$MREO$NCNA$PUK$SAN$SHEL$SQNS$TRVG
Commodities
BP Expands Venezuela Gas Push With Cocuina-Manakin Deal
BP (BP) on Wednesday signed a memorandum of understanding with Venezuela to develop the Cocuina-Manakin gas field near Trinidad and Tobago.The agreement was signed in Caracas with the Venezuelan government, establishing potential areas for co-operation in material offshore gas and future exploration, the company said in response to aninquiry.The MOU was signed during a senior BP delegation visit to Venezuela this week, led by BP Executive Vice President William Lin, the company said.Under the agreement, the energy firm will take the lead in developing the Cocuina-Manakin field near the Trinidad and Tobago border while assessing additional exploration prospects in the Loran offshore block, according to media reports.The partnership also reportedly covers joint work on exploration and gas commercialization in the Loran area, where interest from other global players, including Shell (SHEL), continues to build.Venezuela has accelerated efforts to attract foreign operators, signing new agreements with companies such as Eni (E) and Repsol to expand upstream production capacity, multiple media outlets reported.The MOU sets out cooperation across gas development and future exploration projects, with state-owned Petroleos de Venezuela included in the arrangement.Lin reportedly said the company is strengthening its footprint in the country by establishing a permanent office in Caracas.The agreement follows a major energy conference in Caracas that drew global investors, as companies advance long-term plans, including gas export projects expected to begin around 2031.BP plans to channel over 1 trillion cubic feet of gas from the field into Trinidad for processing into liquefied natural gas exports, strengthening regional supply chains, the reports added.Price: $47.23, Change: $+0.43, Percent Change: +0.92%
$BP$E$SHEL
Asia Markets
US Equity Futures Mostly Lower Pre-Bell Amid Continued Middle East Standoff, AI Spending Concerns
US equity futures were mostly lower pre-bell Tuesday as the US-Iran standoff continues with no end in sight, while concerns about heavy spending on data centers were brought into focus amid reports of OpenAI's missed targets.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were down 0.8%, and Nasdaq futures were 1.4% lower.President Donald Trump was unhappy with Iran's latest proposal to end the Middle East conflict, Reuters reported, citing a US official. Iran had proposed to reopen the Strait of Hormuz by deferring nuclear talks to a later date, while Trump wants nuclear issues dealt with from the outset.Microsoft-backed (MSFT) OpenAI recently missed internal targets for new users and revenue, raising concerns among company leaders about being able to support its massive spending on data centers, according to a Wall Street Journal report that cited sources familiar with the matter.Traders digested the latest round of earnings. Coca-Cola (KO) reported higher Q1 adjusted earnings and revenue, while Novartis (NVS) posted a decline in Q1 core earnings and net sales.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $104.21 per barrel and US West Texas Intermediate crude 3.6% higher at $99.84 per barrel.The February S&P Case-Shiller home price index, scheduled for release at 9 am ET, is expected to show a 0.2% gain following a similar increase in the preceding month, according to estimates compiled by Bloomberg.The April consumer confidence index, due at 10 am ET, is projected to fall to 89.0 from 91.8.In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, Microsoft, which is OpenAI's biggest investor, and Oracle (ORCL), which relies on the ChatGPT creator for its cloud computing plans, saw their shares decline 1.3% and 7.6%, respectively. Novartis stock was down 1.4% after the company released its Q1 financial results.On the winning side, Eni (E) stock was up 2.7% after the European energy firm and Repsol said they are planning to boost output at Venezuela's Cardon IV offshore gas field, according to a Reuters report. Bed Bath & Beyond (BBBY) shares were up 29% after the company reported a narrower Q1 adjusted loss and higher revenue. Coca-Cola stock was up 3% after the company published its Q1 financial results.
Dow JonesNasdaq CompositeS&P 500$BBBY$E$KO$MSFT$NVS$ORCL
Commodities
Market Chatter: Repsol and Eni Push for Expansion at Venezuela's Cardon IV Gas Field
European energy majors Repsol and Eni (E) are moving to increase output at Venezuela's Cardon IV offshore gas field said project manager Gonzalo Antonio Carrillo, according to a Reuters report on Monday.Speaking at the Venezuela Energetica conference, Carrillo described the ramp-up as an incremental step-by-step process that will eventually require new drilling and infrastructure upgrades, though he did not provide a specific timeline for reaching the new target, as per the report.The push for higher gas volumes coincides with an ambitious production drive by state oil firm PDVSA.Jovanny Martinez, PDVSA's executive vice president, said that Venezuela aims to increase crude exports to 1.06 million barrels per day, with fuel exports expected to hit 134,000 bpd by year-end, the report noted.Martinez reaffirmed the country's long-term goal of returning to 3 million bpd, noting that March exports recently surpassed the 1 million bpd threshold for the first time since 2024, driven by demand from Indian refiners and Caribbean storage hubs.Infrastructure remains a critical bottleneck for the country. Vice Minister for Gas Cindy Rondon emphasized the urgent need to accelerate repairs and optimize the handling of associated gas to meet short-term goals, Reuters said.The legal landscape remains in flux meanwhile as Martinez confirmed that regulations for a sweeping oil reform law are still being finalized, the article said.(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.)
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Oil & Energy
Interest Grows in North American Hydrocarbons as Middle East Conflict Endures, Says WoodMac
The depth and duration of the disruption to global energy supplies by the closure of a single waterway in the Middle East's cluster of oil producing countries has prompted increased interest in resources available elsewhere, Wood Mackenzie said in an opinion article on Monday.While there were already plans to increase production from various geographies before the Iran war, the conflict has provided additional momentum to bring these forth, according to the article's author, Ed Crooks, Wood Mackenzie Vice Chair for the Americas and Energy Gang podcast host.Venezuela has been moving faster to raise output, something facilitated by the capture of President Nicolas Madura in January. Legislative reforms have passed in the National Assembly giving clarity of maximum royalties and taxes.At the same time, state oil company PDVSA lost exclusive control of oil production and sales, the article said, making way for private players to have control of their own projects and access to arbitration.Foreign oil companies have set out plans to boost the country's output. Chevron (CVX) said it can boost its production in Venezuela by 50% over an 18-24 month timespan and Repsol is aiming for the same increase within 12 months.Shell (SHEL) is said to be in negotiations with Venezuela's government to develop more gas assets and could take final investment decisions before the end of the year if conditions are right.Elsewhere, there was record revenue generated by a lease sale of areas in Alaska's National Petroleum reserve, Crooks noted, while in the Gulf of Mexico, which the US government recognizes as Gulf of America, Occidental Petroleum (OXY) said it had made an oil discovery that would extend the working life of its production facilities.BP (BP) last month said it received approval from the US Bureau of Ocean Energy Management to develop its $5 billion Kaskida project.Claudia Sheinbaum, Mexico's president, said she was in favor of increasing natural gas production through development of unconventional resources to reduce dependence on the US which provides about 75% of Mexico's gas. It now targets output of 3.2 billion cubic feet per day from unconventional sources by 2035.Given the lead times involved in establishing more projects, companies need relative certainty of future commodities prices and change in output to decide on whether investing is viable.There is no sign of any general uptick in US energy industry activity at present with no increase in the number of drilling rigs operating in the US around mid-April, the article said.Venezuela has been able to achieve an increase as a result of easing of US sanctions, with output rising to 1.1 million barrels a day in March from 900,000 in January. But resources like those in Alaska or the Gulf of America will need years to reach the market.Venezuela may have some capacity to boost LNG supply if its gas can be piped to Trinidad to supply the Atlantic LNG liquefaction plant there.Meanwhile Eni (E) and Repsol have reached a deal with Venezuela's government through which they will export gas from the Perla field using a floating LNG vessel. There is also an opportunity for gas to be piped to Colombia, which would free up the LNG it otherwise uses.
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Equities
Market Chatter: Eni, Repsol Seek to Increase Venezuela Gas Production
Eni (E) and Repsol seek to increase production at their jointly Cardon IV gas field in Venezuela to 645 million cubic feet per day, Reuters reported Monday, citing comments by the project manager at a conference.Gonzalo Antonio Carrillos said the field currently produces about 580 million cubic feet per day without saying when it would reach the higher threshold, Reuters reported.Speaking at the conference, Venezuela vice minister for gas Cindy Rondon said the country needs to speed up repairs to its gas infrastructure, the report said.Eni and Repsol did not immediately reply 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.)
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Wire
Eni's Q1 Results Mixed as Downstream Weakness Weighs on Earnings, RBC Says
Eni (E) reported mixed Q1 results, with earnings falling below expectations mainly due to weakness in its downstream business and higher maintenance costs, RBC said in a note emailed Monday.The analysts said the results were, however, overshadowed by a more positive guidance, leading the company to increase its share buyback program from 1.5 billion euros ($1.76 billion) to 2.8 billion euros. "We had expected companies to remain cautious amid volatile macro rather than sticking to formulaic payouts in Q1, however with Eni being the first to report, management has thrown down the gauntlet to the rest of the sector," RBC said.Looking ahead, several potential positives could support the company, including developments in Indonesia and Venezuela, which are not yet included in guidance, with potential upside in the 2030 time frame, the firm said. On the downside, there is some uncertainty around a possible share placement by the Italian government, which could weigh on sentiment, the analysts said.The analysts said they are raising 2026 earnings per share estimate by 3%, while cash flow from operations estimate is down 3%. They now assume 3.2 billion euros in buybacks, above the company's guidance, based on a higher oil price outlook.RBC maintains a sector perform rating and a price target of 28 euros on Eni.Price: $53.80, Change: $-0.31, Percent Change: -0.57%
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Asia Markets
European Equities Traded in the US as American Depositary Receipts Track Lower in Monday Trading
European equities traded in the US as American depositary receipts were trending lower late Monday morning, down 0.39% to 1,794.56 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and semiconductor company Sequans Communications (SQNS), which climbed 6.8% and 5.6% respectively. They were followed by 3D printer company Materialise (MTLS) and biopharmaceutical company DBV Technologies (DBVT), which advanced 3.5% and 3.4% respectively.The decliners from continental Europe were led by biotech firm BioNTech (BNTX) and internet browser company Opera (OPRA), which dropped 2.9% and 1.5% respectively. They were followed by oil and gas company Eni (E) and accommodations booking site trivago (TRVG), which lost 1% and 0.7% respectively.The gainers from the UK were led by medical device maker Smith & Nephew (SNN), which rose 1.4%. They were followed by biopharmaceutical company NuCana (NCNA) and biotech firm Autolus Therapeutics (AUTL), which were up 1.3% and 1% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Akari Therapeutics (AKTX) and cruise line operator Carnival (CUK), which fell 6% and 1.6% respectively. They were followed by oil and gas company Shell (SHEL) and hospitality company InterContinental Hotels Group (IHG), which were down 1.4% and 1.2% respectively.
$AKTX$AUTL$BNTX$CUK$DBVT$E$IHG$MTLS$NCNA$NOK$OPRA$SHEL$SNN$SQNS$TRVG
Commodities
Eni Raises Energy Forecasts Amid Protracting Iran Conflict
Italian energy giant Eni (E) revised its 2026 gas and oil price forecasts on Friday, warning that the global energy market is significantly underestimating the long-term impact of the ongoing conflict.The company now projects Brent crude at $83 per barrel, up from its previous $70 estimate, and has hiked Dutch TTF gas expectations to 50 Euro per megawatt hour from 36 euro.Eni's Chief Transition and Financial Officer Francesco Gattei cautioned during the quarterly earnings call that the crisis extends beyond a simple ceasefire. The destruction of critical infrastructure and production facilities by fire and bombing will require a much longer recovery period than the market currently anticipates, according to a transcript of the call available on FactSet.The effective closure of the Strait of Hormuz, a vital artery for roughly one-fifth of the world's oil and liquefied natural gas flows has already triggered a 24% quarter-on-quarter surge in Brent prices.While these elevated prices have bolstered Eni's upstream operations, the conflict has concurrently pressured refining margins due to reduced utilization rates, it said.
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Asia Markets
European Equities Traded in the US as American Depositary Receipts Rise in Friday Trading
European equities traded in the US as American depositary receipts were rising late Friday morning, gaining 0.66% at 1,798.36 on the S&P Europe Select ADR Index, which is off 2% for the week so far.From continental Europe, the gainers were led by pharmaceutical company Novo Nordisk (NVO) and software firm SAP (SAP), which rose 6.4% and 5.6% respectively. They were followed by furniture maker Natuzzi (NTZ) and consumer goods company Unilever (UL), which were up 2.6% and 1.7% respectively.The decliners from continental Europe were led by biotech firm Evaxion (EVAX) and petroleum refiner Equinor (EQNR), which fell 2.4% and 1.4% respectively. They were followed by biopharmaceutical company Cellectis (CLLS) and oil and gas company Eni (E), which were down 1.2% and 0.9% respectively.The gainers from the UK were led by British American Tobacco (BTI) and InterContinental Hotels Group (IHG), which advanced 2.5% and 2.4% respectively. They were followed by insurance company Prudential (PUK) and educational publisher Pearson (PSO), which increased 1.2% and 0.7% respectively.The decliners from the UK and Ireland were led by biopharmaceutical firm NuCana (NCNA) and Autolus Therapeutics (AUTL), which fell 5.1% and 2.7% respectively. They were followed by Trinity Biotech (TRIB) and Silence Therapeutics (SLN), which lost 1.6% and 1% respectively.
$AUTL$BTI$CLLS$E$EQNR$EVAX$IHG$NCNA$NTZ$NVO$PSO$PUK$SAP$SLN$TRIB$UL
Sectors
Sector Update: Energy Stocks Lean Lower Premarket Friday
Energy stocks were leaning lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.8%.The United States Oil Fund (USO) was down 1.4% and The United States Natural Gas Fund (UNG) was 1.5% lower.Front-month US West Texas Intermediate crude oil was 0.4% lower at $95.45 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.2% to reach $105.28 per barrel, and natural gas futures were up 1% at $2.67 per 1 million British Thermal Units.SLB (SLB) shares were down more than 1% after the company reported lower Q1 adjusted earnings.Eni (E) stock was 0.2% lower after the company posted a decline in Q1 net profit.TotalEnergies (TTE) has secured financing for its Mirny onshore wind and battery energy storage system project in southeast Kazakhstan, the company said. TotalEnergies shares were marginally lower premarket.
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