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Western Midstream Says Second Produced-Water Facility Starts Operations in Permian Basin

Western Midstream Partners (WES) said Wednesday that the second produced-water treatment pilot facility in its joint industry project has begun operations in Reeves County, Texas in the Permian Basin.The other members of the project include Chevron (CVX), ExxonMobil (XOM), ConocoPhillips (COP), and Devon Energy (DVN).The company said it expects the facility to receive 2,000 barrels per day of produced water and produce approximately 1,000 barrels per day of reclaimed freshwater."Through our multi-barrier treatment approach, we are transforming that stream into highly treated reclaimed freshwater suitable for industrial cooling and irrigation applications," Western Midstream CEO Oscar Brown said in a statement.

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Asia42d ago

Grasim Industries Appoints Textiles CEO Designate

Grasim Industries (NSE:GRASIM, BOM:500300) has appointed Sangeeta Tanwani as CEO (designate) of its textiles business, effective Aug. 1.She will take over as CEO of the textiles business from Nov. 1, according to a Wednesday stock exchange filing.

BOM:500300NSE:GRASIM

Research42d ago

Morgan Stanley Downgrades IQVIA Holdings to Equalweight From Overweight, Adjusts Price Target to $200 From $225

IQVIA Holdings Inc (IQV) has an average rating of buy and mean price target of $223.28, 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)

$IQV

Research42d ago

Morgan Stanley Upgrades Charles River Laboratories International to Overweight From Equal Weight, Adjusts PT to $220 From $185

Charles River Laboratories International (CRL) has an average rating of overweight and mean price target of $220.29, 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)

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Sectors42d ago

Central Banks Remain In Gold-Acquisition Mode, Says National Bank

A recent European Central Bank paper provides a timely reason to revisit central banks' growing preference for gold, with persistent geopolitical tensions continuing to support strong official demand in 2025, said National Bank of Canada.Reserve managers still value the liquidity of US dollar (USD) assets, but sanctions risk, financial fragmentation and concerns over sovereign exposure are strengthening the appeal of assets outside the traditional currency system, noted the bank.Gold's share of total official reserves rose from 16% in 2023 to 27% at the end of 2025, surpassing U.S. Treasuries at 22%, other US dollar assets at 20% and the euro (EUR) at 15%, stated National Bank.The trend appears "far from exhausted," added the bank.According to the World Gold Council's just-released Central Bank Gold Reserves Survey, 84% of respondents expect gold to represent a larger share of global reserves five years from now, up from 76% last year.45% of the 74 central banks surveyed expect their own institution's holdings to increase over the next 12 months, the highest proportion since the survey began.Gold isn't replacing the US dollar, but it is becoming an increasingly important hedge against a more fragmented geopolitical and financial order, according to the bank.Against this backdrop, National Bank remains comfortable with its US$4,000 to US$6,000 per ounce trading range for bullion over the next 12 to 36 months

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Mining & Metals42d ago

Grande Portage Resources Announces Commencement Of 2026 Drill Program At New Amalga Gold Project

Grande Portage Resources (GPG.V) announced Wednesday the commencement of its 2026 drilling program at the New Amalga Gold property near Juneau, Alaska.The program planned for 2026 includes up to 4,300 meters of diamond drilling from up to 14 drillholes as well as installation of downhole instrumentation, said the company.The drillholes will provide additional definition to upgrade resource classification in key areas of the deposit and will characterize the geotechnical and hydrogeological aspects of the rock mass to gather data necessary for the environmental review and permitting process as well as to inform mine development plans, it stated.The geotechnical and hydrogeological characterization work will include detailed geotechnical logging, installation of piezometers, packer testing and groundwater sampling, said the company.The 2026 program is being conducted under a plan of operations approved by the US Forest Service on Jan. 16, 2026 and utilizes several "industry-leading contractors" including SRK Consulting, Timberline Drilling, Piton Exploration LLC and Coastal Helicopters Inc, it added."We are pleased to announce the mobilization of a premier team of contracting partners the 2026 drilling campaign, including prominent Alaska-based firms," said Ian Klassen, the chief executive.

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Mining & Metals42d ago

Freegold Says Intersected 336.8 m grading 1.32 g/t Au starting from 26.5 m in Infill Drilling at Golden Summit

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Japan42d ago

US Equity Futures Edge Slightly Higher Ahead of Fed Decision Under New Chair Kevin Warsh

US equity futures were slightly higher pre-bell Wednesday as traders await the Federal Reserve's rate decision, the first under new chairman Kevin Warsh.Dow Jones Industrial Average futures were steady, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.4% higher.The Fed will deliver its latest policy decision at 2 p.m., and Warsh will hold his first press conference at 2:30 p.m. Markets expect the central bank to keep interest rates unchanged at a target range of 3.5% to 3.75%.Elon Musk's Space Exploration Technologies (SPCX), known as SpaceX, continued its post-IPO rally for the third straight day after its record-setting initial public offering on Friday, gaining 1.4% in pre-market activity.President Donald Trump said at the G7 conference that the proposed US-Iran memorandum of understanding, set to be formalized in Geneva on Friday, is "not final" and warned that the US will "go right back to dropping bombs" if he doesn't like the deal.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.7% at $79.52 per barrel and US West Texas Intermediate crude 0.9% higher at $76.74 per barrel.The May retail sales report, slated for 8:30 am ET, is forecast to show a 0.6% increase following a 0.5% gain in the previous month, according to estimates compiled by Bloomberg.Pending home sales for May, scheduled for release at 10 am ET, are expected to be up 0.9% after a gain of 1.4% in the prior month. The Atlanta Fed Business Inflation Expectations survey for June is also expected at 10 am ET.

Dow JonesNasdaq CompositeS&P 500$SPCX

Mining & Metals42d ago

Goliath Resources Launches 50,000 Meter Expansion Drill Program On Surebet Discovery

Goliath Resources (GOT.V) has commenced a 50,000-meter expansion drill program at the Surebet discovery on its Golddigger property in British Columbia.Two drills are currently on site and five additional drills are expected to arrive shortly.The campaign is designed to expand the known mineralization laterally and to depth in order to test the extent of the Surebet discovery, as well as the potential location of the Motherlode feeder source. The system remains open in multiple directions, Goliath said.Expansion drilling will focus on extending the footprint of the Bonanza zone and Golden Gate zone to the east, northeast and southwest, as well as expanding the Surebet zone to the west and testing other gold-rich mineralized lodes/veins that remain open."Each season the Surebet high-grade gold discovery gets bigger and delivers pleasant surprises, we are delighted to get the 2026 drilling season underway," chief executive Roger Rosmus said.Goliath's key strategic cornerstone shareholders include McEwen (MUX.TO).

$GOT.V$MUX.TO

Research42d ago

CIBC Maintains Outlook on Gildan Activewear Following Short Report, 18% Decline

A short report from Jehosaphat Research on Gildan Activewear Inc. (GIL.TO, GIL) "skews the context for its own agenda," CIBC Capital Markets said in a research note.The Canadian manufacturer of branded clothing issued a statement and reaffirmed fiscal 2026 guidance after the report was released on Tuesday.The stock declined more than 18% on the Toronto Stock Exchange."The report mainly focuses on Gildan allegedly 'channel stuffing' (i.e., selling more to distributors than necessary to support demand) and utilizing off-balance sheet trade receivables to obscure organic revenue growth," CIBC analyst Mark Petrie said in a note to clients."The focal point of this thesis is the rise in days sales outstanding (DSO) and DSO when including the off-balance sheet trade receivables," the analyst said.Petrie maintained an Outperformer rating and US$77 price target on Gildan shares."Overall, while the report highlights relevant points, including on concerns around Gildan's recent organic revenue growth, we believe it skews the context for its own agenda," the analyst said."We believe DSO increasing is an intentional decision by Gildan to leverage its scale and balance sheet to build market share," Petrie said. "We continue to view management's F2026 guidance as achievable absent a broader incremental macro slowdown."(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)

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Mining & Metals42d ago

RFA Financial Provides Real Estate Disposition Update Since Merger With Artis REIT

RFA Financial (RFA.TO) has sold 34 properties since the merger with Artis REIT in February, the company said Wednesday.Since February 1, RFA has completed $140.3 million in property sales, and currently has $178.5 million of unconditional contracts and $216.9 million of conditional sale agreements in place (including those previously disclosed), for a total $535.7 million of disposition activity.The year-to-date sale price for all closed and unconditional transactions is 4.0% higher than when compared to the International Financial Reporting Standards values disclosed at June 30, 2025, the company said.RFA Financial shares closed down $0.35, to $24.30, on Tuesday on the Toronto Stock Exchange.

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Oil & Energy42d ago

Trump Warns US Could Resume Bombing Iran if Deal Does not Meet Expectations

President Donald Trump on Wednesday said the US could revert back to dropping bombs on Iran if he does not like the way the Iran deal works out, according to media reports.The interim agreement to be signed by the two countries in Geneva on Friday to end the conflict and pave the way for full negotiations, is merely a memorandum of understanding and not final, said Trump at the G7 summit in Evian, France.Trump said the US could return to shooting and dropping bombs if he does not like the deal or if Iran does not behave as per expectations.Some analysts have commented in media coverage of the deal that the two sides have agreed to it more out of convenience than alignment of positions.For the US, this reolves around keeping fuel prices lower ahead of mid-term elections and for Iran, it provides financial respite through the restoration of crude oil sales, according to their comments.Trump is expected to talk more about the Iran situation at a news conference later in the day, the reports said.

Mining & Metals42d ago

Trident Resources Says All Seven Holes Were Drilled On Winter Ice Into BK3 Zone At Contact Lake Target Area, Northern Saskatchewan

Trident Resources' (ROCK.V) seven diamond drill holes from the 2026 winter drill program at the Contact Lake Gold project in northern Saskatchewan, were drilled on winter ice into the BK3 Zone at the Contact Lake target area and intersected high-grade gold mineralization, it said Wednesday.Eleven holes remain unreported with assays pending from the Preview Lake deposit area located about three kilometres from the Contact Lake target area."The strength and continuity of the mineralization we're seeing confirms our belief that the Contact Lake target area is highly prospective within the project area and within Trident's entire portfolio," said Trident chief executive Jon Weisblatt. "These results warrant much more drilling to test the extension at depth and along strike."Shares of the company closed up 8.3% to $4.20 on Tuesday on the TSX Venture Exchange.

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Asia Markets42d ago

UAE Shares Gain Amid Focus on US Fed Rate Move

Stock trading in the United Arab Emirates ended in the green again as markets await the key interest rate decision from the world's biggest economy later in the day.At the close of Wednesday trading, the FTSE ADX General Index added 0.331%, while the DFM General Index was up 1.007%.The US Fed will release its monetary policy decision today, with analysts expecting the federal funds rate to remain unchanged in the 3.50% to 3.75% range for the fourth consecutive meeting. It will also mark Kevin Warsh's first press conference as Fed chair."We expect the policy rate will remain at 3.75%, as also priced by markets. Focus will be on his policy leanings, views on the economy and any shifts in Fed practices. Even if Warsh proves to be relatively dovish, we still expect the distribution of rate projections to move higher compared to March," Danske Bank said in a note.On the geopolitical front, the US and Iran are expected to meet in Geneva on Friday to sign their deal, comprising the reopening of the Strait of Hormuz and a 60-day ceasefire extension during which negotiations will take place regarding Iran's nuclear program.Zooming in at home, the Central Bank of the UAE and the Bank for International Settlements concluded their secure cross-border open finance initiative Project Aperta, confirming a secure and real-time exchange of cross-border financial data.On the corporate side, Alef Education (ADX:ALEFEDT) expanded its artificial-intelligence-powered language learning system Arabits across private schools in the UAE. Shares of the Abu Dhabi-listed K-12 education technology company closed the session 0.91% in the red.Dubai Investments' (DFM:DIC) real estate arm, Dubai Investment Real Estate, completed the final phase of villa handovers at its Danah Bay mixed-use beachfront development on Al Marjan Island in Ras Al Khaimah. The Emirati investor closed the session 0.27% higher.

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Oil & Energy42d ago

Update: Market Chatter: US-Iran Deal Must Be 'Material' to Resume Hormuz Transit, Mitsui OSK Lines Chief Says

(Updates with comments from Mitsui OSK Lines in paragraphs 6-8)The US-Iran deal must be "material" to give shipowners the confidence to transit through the Strait of Hormuz, the Financial Times reported Tuesday, citing Mitsui OSK Lines chief executive Jotaro Tamura.Despite the recent US-Iran agreement that includes the reopening of the channel, Tamura reportedly said that many operators would wait before crossing as they take a more cautious approach following several false restarts in the past.The deal should translate into "real" deeds in the Strait, the chief executive told FT, noting that the resumption of transit will likely take "at least a couple of weeks, or if not, a month."Mitsui, the world's biggest tanker operator in terms of number of vessels, has a fleet of 900 ships. Of this total, more than 200 carry crude oil, petroleum products and chemicals.It was able to get four vessels out of the Gulf before the deal announcement, Tamura reportedly said, without having to pay any fees to Iran. At present, Mitsui has at least seven ships stranded in the Gulf.The company declined to disclose further information about its vessels in the Gulf for safety reasons.It said in an emailed statement tothat its "operations will not be resumed until safety has been sufficiently confirmed.""The resumption of transit will require close coordination with the governments of the relevant countries, insurers, and other stakeholders," it added.The International Maritime Organization, on Monday, said its plan to evacuate seafarers stuck in the area "will require time to ensure that all necessary safety and security guarantees are in place."(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.)

Treasury42d ago

BMO On The Day Ahead In Canada

Statistics Canada will release quarterly population figures at 8:30 a.m. ET, Wednesday, said Bank of Montreal (BMO).The StatsCan population figures are likely to show a continued historic decline, noted the bank.Canada will also publish the new housing price index (NHPI) for May at 8:30 a.m. ET, Wednesday. BMO said the NHPI could increase slightly in May after a sizeable decrease in April, while remaining about 2% below year-ago levels.

$CXY

International42d ago

Easing Interest Rates, Steady Crude Prices Undergird European Bourses Midday

European bourses tracked moderately higher midday Wednesday as traders weighed mildly easing interest rates and steady oil prices, while awaiting clarity on the pending Washington-Tehran peace agreement.Tech and bank stocks led gains on continental trading floors, while oil and property shares lagged.Yields on benchmark 10-year German bonds were lower, near 2.93%.Investors also eyed Wall Street futures in the green, and higher closes overnight on Asian exchanges, including a fresh all-time zenith on Tokyo's Nikkei 225.In corporate news, BMW shares traded down 6.3% in Frankfurt after the German automaker issued a profit warning, citing soft demand in China and pressure from Persian Gulf hostilities.The pan-continental Stoxx Europe 600 Index was up 0.4% mid-session.The Stoxx Europe 600 Technology Index was up 1.2%, and the Stoxx 600 Banks Index gained 1.1%.The Stoxx Europe 600 Oil and Gas Index eased 0.3%, while the Stoxx 600 Europe Food and Beverage Index inclined 0.2%.The REITE, a European REIT index, fell 0.2%.On the national market indexes, Germany's DAX was up 0.1%, and the FTSE 100 in London lost 0.1%. The CAC 40 in Paris was up 0.4%, and Spain's IBEX 35 lifted 0.6%.Front-month North Sea Brent crude-oil futures were up 0.5% to $79.38 a barrel.The Euro Stoxx 50 volatility index was down 1.6% at 15.85, indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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Research42d ago

Update: BofA Downgrades Leidos Holdings to Neutral From Buy, Cuts Price Target to $125 From $200

(Updates with prior price target.)Leidos Holdings (LDOS) has an average rating of overweight and mean price target of $174.93, 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)

$LDOS

Research42d ago

Groupe Dynamite Price Target Lowered at TD, CIBC

Analysts at TD Securities and CIBC Capital Markets lowered their price targets on Groupe Dynamite Inc. (GRGD.TO) to $85 from $105, and to $73 from $100, respectively.TD analyst Brian Morrison maintained a Buy rating on shares of the Canadian clothing company following its quarterly results on Tuesday. The stock declined $26.70, or 36%, to $47.74 on the Toronto Stock Exchange.Morrison said GRGD fell despite a fiscal Q1 2026 EPS beat and annual guidance raise. "The SSSG 'miss' and unchanged but decelerating outlook the remainder of the year, trumped investor narrative and numerous positives driving the financial performance," the analyst said in a note to clients."Our financial forecast are largely unchanged, but investor sentiment appears to be, in turn pressuring the applied multiple," Morrison said. "We view the reaction as overdone."CIBC analyst Mark Petrie maintained an Outperformer rating on the stock.Petrie said GRGD has declined approximately 50% in the past six weeks."Concerns are centred on the deceleration of same-store sales (SSS) growth, which slowed intra-quarter in FQ1 and is up 9% FQ2-to-date," the analyst said in a note to clients."Despite the sell-off, our estimates are little changed, and the company's outlook was tweaked higher," Petrie said."We see compelling value in the shares."(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)

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Mining & Metals42d ago

Generation Mining Receives Senior Lender Credit Approval For US$310 Million from EDC, ING Capital, And Societe Generale

Generation Mining (GENM.TO) Wednesday said that Export Development Canada (EDC), ING Capital LLC, and Societe Generale S.A., collectively the Mandated Lead Arrangers (MLAs), have each received internal credit approval for a senior secured project finance facility for US$310 million, or approximately C$424 million to fund the construction and development of the Marathon Copper-Palladium Project, located on the north shore of Lake Superior in Northwestern Ontario, Canada.With the senior facility, an existing undrawn metals streaming agreement with Wheaton Precious Metals (WPM.TO) of C$200 million, and equipment leasing facilities totaling approximately C$145 million, Generation Mining has secured approximately C$769 million of the funding required to bring the Marathon Project into production, stated the company."The receipt of credit approval from the MLAs represents a critical milestone in the project financing process and reflects the lenders' confidence in the Marathon Project's economics, permitting status, and strategic importance as a North American critical mineral's producer," said the company.The senior facility is subject to final documentation including export credit agencies and a comprehensive intercreditor agreement, said the company and added that final documentation will include customary project finance terms and conditions including satisfaction of a fully funded project construction package."Receiving credit approvals from EDC, ING, and Societe Generale is a landmark moment for Generation Mining and a powerful endorsement of the Marathon Project," said Jamie Levy, the chief executive.Levy also noted that, in the course of negotiations with the MLAs and prospective subordinate debt and equity investors, the company determined that a portion of the previously announced senior debt commitment could be replaced with alternative sources of capital elsewhere in the capital structure, allowing the senior facility to be "optimally sized."

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Mining & Metals42d ago

Generation Mining Receives Senior Lender Credit Approval For US$310 Million from EDC, ING Capital, And Societe Generale

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