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HSBC Downgrades Air Arabia to Reduce Rating, Boosts PT

HSBC on Tuesday downgraded Dubai-listed low-cost carrier Air Arabia (DFM:AIRARABIA) to reduce from hold, while increasing its price target to 5 Emirati dirhams from 4 dirhams.(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://finwires.com/en/contact)

DFM:AIRARABIA

Equities38d ago

CICC Kicks Off TotalEnergies Coverage with Outperform Rating

CICC on Monday started the coverage of French energy group TotalEnergies (TTE.PA, TTE.L) with an outperform rating and a price target of 90 euros.(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://finwires.com/en/contact)

$TTE.L$TTE.PA

International38d ago

June Philadelphia Fed Regional Nonmanufacturing Activity Index -25.8 Vs. -16.0 Expected, -23.6 Prior

Equities38d ago

BSF Capital Raises Luberef PT, Keeps Hold Rating

BSF Capital on Monday raised its rating for base oil producer Saudi Aramco Base Oil Co (SASE:2223), d/b/a Luberef, to 124 Saudi riyals from 115 riyals, with an unchanged hold rating.(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://finwires.com/en/contact)

SASE:2223

Asia38d ago

Kingmaker Footwear Unit to Sell China Property

Kingmaker Footwear (HKG:1170) unit Maystar Footwear agreed to sell a property in China to Zhuhai Ruiyuan Cultural Communications for 50 million yuan, according to a Tuesday Hong Kong bourse filing.The property comprises Blocks A, B and C in No. 1 Cuizhu Street in Guangdong Province, China. The seller currently leases factory premises on the property to Zhuhai Ruiyuan Cultural Communications.The footwear manufacturer will use proceeds for general working capital.

HKG:1170

Equities38d ago

BofA Securities Adjusts Price Target on Kosmos Energy to $1.46 From $1.40

Kosmos Energy (KOS) has an average rating of overweight and mean price target of $3.30, 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://finwires.com/en/contact)

$KOS

Oil & Energy38d ago

Annual Solar Installations to Decline for First Time in 2026, Says SolarPower Europe

Global solar installations are forecast to drop 8% to 612 gigawatts in 2026 as a 24% slowdown in China offsets continued growth across the rest of the world, noted SolarPower Europe in its industry outlook released on Monday.Annual installations are expected to drop marking the first annual decline in solar deployment since tracking began in 2000, as per the report.The projected 2026 downturn is primarily driven by a 24% market contraction in China, which accounted for 57% of all global solar installations in 2025.Having already achieved its 2030 renewable capacity targets six years ahead of schedule in 2024, the Chinese market is experiencing a temporary lull as developers recalibrate to new policy signals issued under the 15th Five-Year Plan in March, the report added.Further, the report noted that rest of the world continues to expand, with demand for solar underpinned by electrification of economies and acute fossil fuel energy security concerns stemming from the Middle East conflict.The broader solar sector is entering a phase defined by structural barriers, including grid congestion, rising capacity curtailment, and frequent periods of negative wholesale electricity prices, the report noted.Long-term projections have been revised downward, with 2030 global capacity forecast cut to 6.6 TW from a previous estimate of 7.1 TW, according to the outlook.The report also said that unlocking further upside potential depends on policy support to fast-track grid modernization and battery storage deployment, mirroring recent strategic shifts in Australia.

Mining & Metals38d ago

Bragg Gaming Group Raises US$1.3 Million Via Non-Brokered Private Placement

Bragg Gaming Group (BRAG.TO, BRAG) closed its non-brokered private placement of 751,445 subscription receipts at US$1.73 apiece for about US$1.3 million, it said late Monday.The company said the issue price was based on the Nasdaq closing price of its shares on May 29. The subscription receipts and proceeds remain subject to escrow release conditions.Chief Financial Officer Robbie Bressler, Chief Operating Officer Morten Tonnesen and director Thomas Winter, subscribed for 86,704 receipts, 57,803 receipts, and 57,803 receipts, respectively. Gaming entrepreneur Matt Davey subscribed for 115,607 receipts, it said.Proceeds will primarily be used for general corporate and working capital needs.Shares of the company closed up 0.8% to C$2.41 on Monday on the Toronto Stock Exchange.

$BRAG.TO

Asia38d ago

Zhongsheng Pharma's Unit Gets Patent From Japan for the Ketoamide-Inducing Method for Leritrelvir Tablets

Guangdong Zhongsheng Pharmaceutical's (SHE:002317) unit, Guangdong Zhong Sheng Ruichuang Biotechnology, received a patent certificate from Japan for a ketoamide inducing method, according to a Tuesday disclosure on the Shenzhen bourse.The 20-year patent is for the crystal form of a ketoamide derivative and preparation method, which is for the company's oral anti-COVID-19 drug Leritrelvir Tablets, with the brand name Leruiling.Shares of the pharmaceutical company closed 3% higher.

SHE:002317

Mining & Metals38d ago

Bombardier Delivers First Global 8000 in Asia

Bombardier (BBD-B.TO) delivered the first Bombardier Global 8000 aircraft in Asia to an undisclosed customer in Shanghai, the company said Tuesday."This first Global 8000 delivery in Asia reflects the region's continued appetite for aircraft that combine range, speed and an exceptional level of comfort for its passengers," said vice president for sales, international, Emmanuel Bornand. "Asia is a strategic market for Bombardier, and the Global 8000 is particularly well aligned with the way customers in the region travel: across long distances, on tight schedules and with a strong focus on comfort, efficiency and nonstop global connectivity."

$BBD-B.TO

Treasury38d ago

Rosenberg Says May Inflation Data Offer Little Support for Bank of Canada Hawks

Rosenberg Research said Tuesday that Canada's May inflation data offered little support for a more hawkish Bank of Canada stance, noting that only 38.6% of the core consumer price index basket is running above the central bank's 2% target.That compares with nearly 80% at the peak of the inflation cycle and a long-term average of 49%, according to Rosenberg Research.Some market players noted concern over a nearly 0.3% monthly rise in Canada's May core inflation, which excludes food and energy, and which posted the highest reading this year, pointed out Rosenberg. However, a broader measure that strips out energy-sensitive components, such as airfares and travel services, points to a much softer gain of around 0.15% on the month, with the annual rate just less than 1.6%."Not much to really be concerned about because there is no evidence of the energy shock broadening out into the pricing system, generally speaking," according to Rosenberg.

$CXY

Mining & Metals38d ago

Yellow Pages Completes Arrangement, Buys Back C$25 Million Shares From Shareholders

Yellow Pages (Y.TO) has completed a C$25 million share buyback from its shareholders through an arrangement under the Business Corporations Act, the company said Tuesday.The digital media and marketing company bought back 2.04 million shares at C$12.27 each. The company also voluntarily contributed C$2 million to its defined benefit pension plan in April.Shareholders will receive payment for their repurchased shares this week.

$Y.TO

Asia38d ago

China Carbon Neutral Development's Shareholder Boosts Stake

China Carbon Neutral Development Group's (HKG:1372) substantial shareholder Sha Tao acquired an additional 109,000 ordinary shares in the company, according to a Tuesday Hong Kong bourse filing.The shares, representing around 0.01% of the company's issued share capital, were purchased from the open market at HK$0.90 apiece.Following the acquisition, Sha holds a little over 162.4 million, or 16.56%, shares in the civil engineering company.

HKG:1372

Research38d ago

Lake Street Initiates Coverage on Vivani Medical With Buy Rating, $4 Price Target

Vivani Medical (VANI) has an average rating of Buy and mean price target of $3.75, 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://finwires.com/en/contact)

$VANI

Asia38d ago

I-CABLE Communications Proposes Name Change

I-CABLE Communications (HKG:1097) is proposing to change its English name to CTF Media & Entertainment, alongside a change in its Chinese name, according to a Tuesday Hong Kong bourse filing.The name change is subject to the relevant shareholder and regulatory approvals.The company believes the new name will give it a refined corporate image and identity, boosting its business development.

HKG:1097

Wire38d ago

QuidelOrtho Appoints Micah Young Chief Financial Officer

QuidelOrtho (QDEL) said Tuesday it appointed Micah Young as chief financial officer, effective July 6, while outgoing finance chief Joseph Busky will continue to work in an advisory capacity.Young most recently served as executive vice president and chief financial officer at Masimo, the company said.Shares of the company were down 3.3% in Tuesday premarket trading.

$QDEL

Mining & Metals38d ago

AbraSilver DFS Outlines C$4.2 Billion NPV for Diablillos Project

AbraSilver Resource (ABRA.V)'s definitive feasibility study on the Diablillos silver-gold project in Argentina outlined a posttax net present value of C$4.2 billion at base-case metal prices.The study also outlined a 41.9% internal rate of return and a 1.7-year payback period for the proposed mine with an estimated average annual production of 20 million ounces of silver equivalent, the silver-gold developer said Tuesday.Initial capital expenditures were projected at US$722 million, and the company targets first production before year-end 2029, subject to a final investment decision scheduled in the second quarter of 2027."Importantly, these DFS results represent our phase 1 base case - not our ceiling," CEO John Miniotis said. "A heap leach addition, plant capacity growth and ongoing exploration across our land package give us multiple levers to build on these results."

$ABRA.TO

Wire38d ago

HeartSciences to Merge With Digital Asset Mining Platform Fortitude; Shares Rise Pre-Bell

HeartSciences (HSCS) said Tuesday it has agreed to merge with digital mining company Fortitude Mining in an all-stock deal.Under the agreement, Fortitude's sole shareholder, Digital Currency Group, will own approximately 95% of the combined company on a fully diluted basis at closing.The combined company is expected to trade on the Nasdaq Capital Market under the ticker symbol "TUDE."Upon closing, the combined company will operate under the Fortitude brand and be led by Fortitude's current management team. HeartSciences Chief Executive Officer Andrew Simpson will oversee the healthcare business.The merger is expected to close in H2.HeartSciences shares were up more than 70% in Tuesday pre-bell activity.Price: $3.06, Change: $+1.23, Percent Change: +70.08%

$HSCS

Japan38d ago

US Equity Futures Fall Pre-Bell Amid Broad Tech Sell-Off, US-Iran Peace Negotiations

US equity futures were lower pre-bell Tuesday amid a sell-off in tech stocks and ongoing peace negotiations between US and Iran.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 1.2%, and Nasdaq futures were 2.6% lower.Micron Technology (MU) stock was down 6.8% in premarket activity, joining a broader sell-off in the technology sector.Technical discussions between the US and Iran in Switzerland have been completed, with negotiating groups to be set up focusing on nuclear issues and sanctions, AFP reported, citing Iranian state media.Iran's chief negotiator Mohammad Bagher Ghalibaf told state media that the country intends to retain control of the Strait of Hormuz after talks with the US. At least 35 vessels crossed the waterway on Monday, marking the highest level since the war in the Middle East began, AFP reported, citing data from maritime tracking firm Kpler.Oil prices were marginally higher, with front-month global benchmark North Sea Brent crude up 0.1% at $77.61 per barrel and US West Texas Intermediate crude 0.1% higher at $73.96 per barrel.The June S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen coming in at 52.1, up from 51.5 previously, according to estimates compiled by Bloomberg. The Richmond Fed manufacturing index for June is scheduled to be released at 10 am ET.

Dow JonesNasdaq CompositeS&P 500$MU

US Markets38d ago

Hong Kong Inflation Climbs to 13-month High in May as Transport Fares, Health Service Prices Weigh

Hong Kong's composite consumer price index grew faster in May as transport and health service costs increased, according to data from the city's Census and Statistics Department released Tuesday.Composite CPI jumped 2% year over year in May, faster than the 1.7% jump in April, the C&SD said. It is the highest rate in 13 months. Netting out one-off relief measures from the government, the city's underlying inflation rate ticked up to 1.9% from 1.6% over the period."The larger increase in May 2026 was mainly due to the accelerated increases in inbound and outbound transport fares and the charges for package holidays, as well as the increases in the charges for health services," the report said.Save for durable goods, the various components of the composite CPI all grew in May, with electricity, gas and water leading the surge with a 6.6% growth rate.Meanwhile, on a monthly and seasonally adjusted basis, the composite CPI for the three months ended May ticked up to 0.1% from 0.0% in April."Looking ahead, while the recent de-escalation of geopolitical tensions in the Middle East has contributed to a decline in international oil prices, the earlier surge in oil prices will continue feeding through to fuel-related components of consumer prices in the coming months," according to a government spokesman.The government also confirmed that it will continue to closely monitor developments but said it expects "largely stable" prices in other areas to help "keep overall inflation moderate."

Hang Seng

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