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EU Stays Committed to Energy Sanctions on Russia

The EU on Wednesday said it remains committed to its sanctions on energy imports from Russia despite the ongoing energy supply crisis fueled by the ongoing conflict in the Middle East."We remain committed to our sanctions on imports of Russian oil and gas, and we need to reiterate the call for Russians not to be benefitting from the ongoing conflict in the Middle East," European Commission Chief Spokesperson Paula Pinho told reporters at a news briefing. "It's too ironic."Pinho was responding to a question on whether countries like the US and UK were undermining the EU strategy to pressurize Russia over its war with Ukraine through sanctions."We'll see what the future brings. We have not hesitated in standing by a number of sanctions against the US. As recently as two weeks ago, we had an agreement on the 20th package of sanctions. What will come next remains to be seen," she added.On Tuesday, the UK introduced a new general trade license covering sanctioned processed oil products under Russia-related trade restrictions.The license, effective from Wednesday, applies to diesel and jet fuel products refined in third countries using Russian-origin crude oil and will remain valid indefinitely unless authorities later amend, suspend, or revoke the authorization.The UK also published a separate temporary license covering maritime transportation and related services linked to liquefied natural gas activities under the Russia sanctions rules.Earlier this week, US Treasury Secretary Scott Bessent said that the Trump administration is issuing a temporary 30-day general license to provide the most vulnerable nations with the ability to temporarily access Russian oil currently stranded at sea."This extension will provide additional flexibility, and we will work with these nations to provide specific licenses as needed. This general license will help stabilize the physical crude market and ensure oil reaches the most energy-vulnerable countries. It will also help reroute existing supply to countries most in need by reducing China's ability to stockpile discounted oil," Bessent said in a social media post on X.

Asia52d ago

Baozun Narrows Loss in Q1

Baozun (HKG:9991) recorded an attributable loss of 7.5 million yuan in the first quarter of 2026, compared with 63.1 million a year prior, according to a Wednesday Hong Kong bourse filing.Loss per share was 0.04 yuan in the three months, narrower than 0.36 yuan in the first quarter of 2025.The e-commerce firm's revenue jumped 15% to 2.38 billion yuan from 2.06 billion yuan in the year-ago period.

HKG:9991

Mining & Metals52d ago

Mkango Resources Signs Agreement With Heraeus To Acquire Heraeus Remloy

Mkango Resources (MKA.V) signed an asset purchase agreement with Heraeus Amloy Technologies GmbH, to acquire its Remloy rare earth magnet recycling business for 8 million euros (US$9.4 million) in cash, the company said early Wednesday.It includes 5 million euros (US$5.6 million) payable on closing, expected within the next three months, and 3 million euros (US$3.5 million) payable two years after closing, said the company.The initial payment of 5 million euros will be funded from Mkango's existing cash balance, stated the company."Remloy has developed a plant in Bitterfeld, Germany, which recycles end-of-life rare earth magnets via a melting process (medium loop recycling) to produce neodymium-iron-boron ("NdFeB") alloy powders for the bonded and hot deformed magnet markets, complementary to HyProMag's short loop recycling process to produce sintered magnets," said the company.Total capacity of the production facility is 500 tonnes of NdFeB alloy per year and the plant is targeting scale-up to this level of production over the next few years with minimal capital expenditure required, said the company, and added that the assets are currently non-revenue generating and therefore no historic profits are attributable to them, given the facility is still in the start-up phase."Multiple production runs have been completed with the current focus on product optimisation, sample generation for customers and ongoing offtake discussions to support the commencement of commercial sales and targeted scale-up of operations, whilst capitalising on potential synergies with Mkango and HyProMag," added the company.The stockpile comprises more than 300 tonnes of rare earth magnets, rare earth alloys and other raw materials, which helps underpin the growth strategy, it said.The transaction is expected to close in the summer of 2026, subject to customary closing conditions and receipt of required regulatory approvals, said the company.

$MKA.V

Research52d ago

Research Alert: Adi: Industrial And Data Center Fuel Apr-q Upside; Jul-q Guide Beats

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:ADI posted Apr-Q revenue growth of 37% to $3.623B vs. our 27% forecast, with EPS of $3.09 (+67% Y/Y) exceeding the $2.91 expectation as operating margin expanded 780 bps to 49.0%. Industrial segment led with +56% growth to $1.799B (50% of revenue) while Communications surged 79% to $555M, reflecting broad-based recovery. Strong performance validates ADI's positioning in secular growth areas including AI infrastructure, factory automation, and electrification, with robust bookings across automation, robotics, and industrial IoT applications. Jul-Q guidance of $3.9B revenue and $3.30 EPS significantly exceeds expectations of $3.6B and $3.01. We believe the cyclical recovery shows sustainable momentum with clear operational leverage, as gross margin expanded 360 bps to 73.0% due to improved utilization and a focus on higher-value solutions. With diverse end-market exposure and disciplined short lead times providing resilience, we expect continued strong performance as demand broadens across ADI's portfolio.

$ADI

Mining & Metals52d ago

Keyera to Advance ACE Rail Terminal Project in Partnership With CN Rail, AltaGas

Keyera (KEY.TO) will invest an initial $240 million, including an additional $100 million on top of its 2026 growth capital guidance, to build the Alberta Corridor Export (ACE) rail terminal project, the company said on Wednesday.The rail hub is expected to be able to transport about 45,000 barrels per day of propane and butane from the Fort Saskatchewan region to West Coast export facilities. It is forecast to have an in-service date of mid-2028, to align with Keyera's KFS Fractionation III project being completed.ACE rail terminal will be designed to boost loading efficiency, reduce handling requirements and lower transportation costs compared with traditional rail solutions, a statement said. It will be developed in partnership with CN (CNR.TO) and AltaGas (ALA.TO), combining CN's rail network and AltaGas' West Coast export platform, and will be anchored by long-term commercial arrangements with both companies."This project reflects our continued focus on strengthening and extending Keyera's integrated value chain while providing customers with an efficient solution to diversify market access and benefit from growing global LPG demand," said Dean Setoguchi, Keyera chief executive officer.Keyera shares closed up $1.27 to $58.71 on Tuesday on the Toronto Stock Exchange.

$ALA.TO$CNR.TO$KEY.TO

Equities52d ago

Canadian National Railway, Keyera, AltaGas to Develop Alberta Export Terminal Project

Canadian National Railway (CNI), Keyera and AltaGas said Wednesday they plan to develop the Alberta Corridor Export Rail Terminal Project, an energy infrastructure investment meant to improve Canada's energy supply chain.The project involves an initial investment by Keyera of approximately $240 million, the companies said.The partnership combines Keyera's Alberta Corridor Export rail terminal with Canadian National Railway's rail network and AltaGas' West Coast energy export platform, the companies said.Keyera will own and build the terminal on its land in Alberta backed by long-term commercial arrangements with AltaGas and Canadian National Railway, the companies said.The terminal, expected to be operational in mid 2028, is expected to provide transportation capacity of around 45,000 barrels per day of propane and butane from the Fort Saskatchewan region to west coast export facilities, the companies said.

$CNI

Mining & Metals52d ago

FLINT Appointing Mark Nelson as Chief Operating Officer

$FLNT.TO

Asia52d ago

LG Energy Solution, Honda, Hanoi City Sign Deal to Set Up Battery Swapping Stations for Electric Two-Wheelers

LG Energy Solution (KRX:373220), Japanese automaker Honda Motor (TYO:7267), and the City of Hanoi, Vietnam, signed a memorandum of understanding to establish public battery swapping stations for electric two-wheelers, according to a Wednesday release.Under the agreement, the three parties will establish electric two-wheeler battery-swapping stations in central Hanoi using LG Energy Solution's Cylindrical 2170 batteries and develop battery standardisation and safety management systems. Business models for electric two-wheeler platforms will also be established, according to the release.Honda will be responsible for battery packs, switchers, and electric motorcycles, the release said.Shares of LG Energy Solution fell nearly 4% at market close.

KRX:373220TYO:7267

Asia52d ago

Hong Kong Robotics Grants 24 Million Award Shares to 13 Employees

Hong Kong Robotics Group (HKG:0370) granted 24 million awarded shares to 13 employees under a 2025 incentive scheme, according to a Wednesday Hong Kong bourse filing.Following the grant, the robotics firm will have nearly 161.2 million shares available for future grant under the award plan.

HKG:0370

Japan52d ago

US Equity Futures Rise Pre-Bell Amid Chip Sector Gains as Traders Await Nvidia Earnings

US equity futures were higher pre-bell Wednesday as traders anticipated Nvidia's (NVDA) fiscal Q1 financial results, expected after the closing bell, amid share gains in the broader chip sector.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.7% higher.Investors look forward to Nvidia's earnings for key information on trends in artificial intelligence and the demand for chips. The company's stock rose 1.5% in premarket activity.Traders digested the latest round of earnings, with Analog Devices (ADI) posting higher fiscal Q2 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2% at $109.06 per barrel and US West Texas Intermediate crude 1.8% lower at $102.33 per barrel.The Atlanta Fed Business Inflation Expectations survey for May is scheduled for release at 10 am ET. The Federal Reserve releases minutes of its most-recent policy meeting at 2 pm.Fed Governor Michael Barr is slated to speak on Wednesday.

Dow JonesNasdaq CompositeS&P 500$ADI$NVDA

Asia Markets52d ago

UAE Shares Slide Ahead of US Fed Meeting Minutes

Emirati Equities slipped back into negative territory as markets await the release of the Federal Open Market Committee meeting minutes later in the day.At the close of Wednesday trading, the FTSE ADX General Index was down 0.521%, while the DFM General Index declined 0.618%.On the economic calendar today are the closely watched minutes from the FOMC's meeting in April, where the committee voted to keep the interest rates steady in the 3.50% to 3.75% range due to high inflation and energy prices, driven by ongoing developments in the Middle East. The minutes will provide investors with insights into the US Federal Reserve's stance on future monetary policies."Another event to watch today is the release of April's FOMC minutes, which will shed more light on the reasoning for the three dissenters who preferred a less dovish message. Any hints that went as far as adding rate hikes to the discussion could underpin the recent hawkish repricing and add support for the dollar," analysts at ING said.On the geopolitical front, Iran threatened to extend the war beyond the Middle East if the US resumes its attacks. Earlier, US President Donald Trump said that he had been an hour away from relaunching strikes before postponing them at the request of Gulf countries.Back home and on the corporate side, FAB Securities reiterated Abu Dhabi Ports Co. (ADX:ADPORTS), d/b/a AD Ports Group, buy rating and its price target of 7.35 Emirati dirhams after the port and industrial zones developer's first-quarter attributable net profit exceeded the financial services firm's expectations. Its shares closed 0.45% higher.Dubai-listed Gulf Navigation (DFM:GULFNAV) returned to profit in the first quarter, while revenue rose year over year. Shares of the maritime and shipping company were 3.26% in the green at the time of closing.

^DFMGI^FADGIADX:ADPORTSDFM:GULFNAV

Mining & Metals52d ago

Wallbridge Mining to Raise C$56 Million in Investments from Agnico Eagle, Waratah

Wallbridge Mining Company (WM.TO) has entered into agreements to sell common shares to Agnico Eagle and Waratah Capital Advisors for about C$56.0 million, the company said on Wednesday.Agnico Eagle has agreed to purchase 243.9 million Wallbridge common shares for gross proceeds of C$22.4 million, which, together with Agnico Eagle's existing ownership position of common shares and common share purchase warrants, will result in a partially-diluted ownership interest of 19.9%.Waratah has agreed to purchase 364.3 million Wallbridge common shares for gross proceeds of C$33.5 million, which will result in the Waratah funds having an aggregate pro forma ownership interest of 19.9%.Strategic investments will be made at a price of $0.092 per common share, representing a premium of 15% to Wallbridge's 20-day volume-weighted average price on the Toronto Stock Exchange.The net proceeds of the offering is expected to help fund completion of a pre-feasibility study on the Fenelon project."In our view, these investments underscore the quality and scale of our flagship asset, Fenelon, while providing the capital required to advance it through infill drilling and a pre-feasibility study, which we expect to deliver in late 2027 or early 2028," said Brian Penny, Chief Executive Officer of Wallbridge.The company also plans to seek shareholder approval to complete a 20:1 share consolidation and a renaming of the company to Sunday Lake Gold.

$AEM.TO$WM.TO

Asia52d ago

LG Innotek, Kakao Mobility Sign Deal for Autonomous Driving Solutions

LG Innotek (KRX:011070) signed a memorandum of understanding with internet company Kakao (KRX:035720) subsidiary Kakao Mobility to develop autonomous driving solutions, according to a Wednesday release.Under the agreement, the planned autonomous driving solution will combine LG Innotek's high-performance sensing modules, including cameras, radar, and light detection and ranging (LiDAR), with Kakao Mobility's platform services and software, the release said.Shares of the South Korean materials and components manufacturer fell over 4% at market close, while those of Kakao declined more than 3%.

KRX:011070KRX:035720

Asia52d ago

Ola Electric's Consolidated Loss Narrows in Fiscal Q4

Ola Electric (BOM:544225) reported a consolidated attributable loss of 5 billion Indian rupees in the quarter ended March 31, narrowing from an attributable loss of 8.70 billion rupees a year earlier, according to a Wednesday filing on the local bourse.Loss per share narrowed to 1.13 rupees from a loss of 1.97 rupees in the same quarter last year.Revenue from operations in fiscal Q4 fell year on year to 2.65 billion rupees from 6.11 billion rupees a year ago, the filing said.

BOM:544225

Oil & Energy52d ago

South Korea, Japan Explore Energy, LNG Supply Cooperation Amid Global Uncertainty

Japan and South Korea will deepen cooperation on energy security and supply-chain resilience, according to a press statement issued by the two major East Asian economies, following a meeting between Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae Myung on Tuesday.The proposed measures include emergency crude oil swaps, petroleum product sharing and closer coordination on liquefied natural gas operations, as uncertainties continue to mount in global energy markets.As part of the initiative, Japan's Ministry of Economy, Trade and Industry and South Korea's Ministry of Trade, Industry and Resources said they would encourage public-private dialogue aimed at facilitating cooperation during emergencies.This comes following a memorandum signed between Japanese energy company JERA and Korea Gas Corp. in March, focusing on LNG operational optimization, which authorities said could serve as a foundation for broader cooperation."Recent instability in supply chains and energy markets stemming from the situation in the Middle East has further underscored the need for close cooperation between our two countries," Lee said in the statement, according to a Reuters report.Japan's Takaichi also reaffirmed the importance of energy resilience and enhancing reserves in the Indo-Pacific, especially between the world's second and third largest LNG importers.

Mining & Metals52d ago

GR Silver Mining Reports "Exceptionally High Silver Grades" From Drill Results at San Marcial Deposit

GR Silver Mining (GRSL.V) reported "exceptionally high silver grades" from drill results at the San Marcial deposit, confirming the "robust" geological model, and the continuity of high-grade silver mineralization controlled by key structural features, it said overnight Tuesday.The "exceptional silver grades encountered in SMS26-04 highlight the strong structural control of the mineralizing system and further support the exploration potential of key inflection zones, including structural jogs and shear zones, as priority targets for additional high-grade mineralization," the company said in a statement.Results showed 45.1 meters (m) at 1,623 grams per tonne (g/t) silver (Ag), including 8.25 m at 8,579 g/t Ag, in hole SMS26-04. Results from SMS26-04 also confirm the continuity of near-surface mineralization previously intersected in drill holes SMS22-16, which returned 123.1 m at 112 g/t Ag, and SMS22-22, which returned 82.7 m at 121 g/t Ag.Shares of the company closed down 4.7% to $0.305 on Tuesday on the TSX Venture Exchange.

$GRSL.V

Asia52d ago

Market Chatter: Samsung, Union Labor Talks Collapse; Strike to Proceed Thursday

Negotiations between Samsung Electronics (KRX:005930) and its largest labor union fell apart on Wednesday, raising the possibility of a strike that could disrupt global chip supplies and impact the national economy, Bloomberg News reported the same day.Union leader Choi Seung-ho said a general strike will proceed on Thursday, May 21, after Samsung's management rejected a government mediation proposal that had been accepted by the union, according to the report.Samsung argued the demands were "excessive," including raising compensation even for employees in loss-making divisions, the report said.South Korean labor minister Kim Young-hoon has since urged the two parties to negotiate directly hours following news of the talks collapsing, Bloomberg reported.(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.)

KRX:000660KRX:005930

Commodities52d ago

Update: Market Chatter: China, Russia Reach Understanding to Advance Long-Standing Gas Pipeline Plan

(Updates with requests for comment sent to Russian and Chinese governments.)The leaders of China and Russia have reached an understanding on a previously-discussed major gas pipeline, the Power of Siberia 2, between the two, the BBC reported on Wednesday as part of coverage of the Putin-Xi summit.Press secretary to Russian President Vladimir Putin, Dmitry Peskov told reporters that an "understanding already exists" between Putin and his Chinese counterpart Xi Jinping on the project, BBC reported, citing Russia's state-owned Ria Novosti.The project, which has existed on paper for years, but never been built, could transport up to 50 billion cubic meters of gas a year to China, the BBC said.If realized, the project could be transformative for Russia which has all but lost the huge European market over its invasion of Ukraine in 2022. The EU and US have sought to curb Russia's hydrocarbon revenues funding its war on its neighbor.Russian and Chinese authorities did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

International52d ago

Easing Oil, Interest Rates Undergird European Bourses Midday

European bourses tracked moderately higher midday Wednesday as traders weighed easing interest rates and oil prices and awaited clarity on Persian Gulf hostilities.Tech and property stocks led gains on continental trading floors, while food shares lagged.Yields on benchmark 10-year German bonds were lower, near 3.16%, while front-month North Sea Brent crude-oil futures were down 3% at $108.78 a barrel.Investors also eyed Wall Street futures in the green amid lower closes overnight on Asian exchanges.In economic news, the UK consumer price index rose 2.8% year over year in April, down from March's 3.3%, the Office for National Statistics reported. However, the CPI in April was up 0.7% month over month.The pan-continental Stoxx Europe 600 Index was up 0.4% mid-session.The Stoxx Europe 600 Technology Index advanced 1.2%, and the Stoxx 600 Banks Index gained 0.5%.The Stoxx Europe 600 Oil and Gas Index rose 0.5%, while the Stoxx 600 Europe Food and Beverage Index declined 0.6%.The REITE, a European REIT index, advanced 0.7%.On the national market indexes, Germany's DAX was up 0.5%, and the FTSE 100 in London gained 0.1%. The CAC 40 in Paris was up 0.6%, and Spain's IBEX 35 lifted 0.5%.Yields on benchmark 10-year German bonds were lower, near 3.16%.Front-month North Sea Brent crude-oil futures were down 3% at $108.78 a barrel.The Euro Stoxx 50 volatility index was steady near 22.96, indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

^SXXP

International52d ago

US Dollar Rises Early Wednesday, Focus on FOMC Minutes

The US dollar rose against its major trading partners early Wednesday, except for a decline versus the yen, as markets look ahead to the minutes of the April 28-29 Federal Open Market Committee meeting to be released at 2:00 pm ET.Before that, Federal Reserve Governor Michael Barr is due to speak at 9:15 am ET, followed by weekly petroleum stocks data at 10:30 am ET.Earlier Wednesday, the Mortgage Bankers Association reported that mortgage applications declined in the week ended May 15 due to a seven-week high in mortgage rates.A quick summary of foreign exchange activity heading into Wednesday:EUR/USD fell to 1.1599 from 1.1606 at the Tuesday US close and 1.1622 at the same time Tuesday morning. Eurozone consumer prices rose as expected in April, lifting the year-over-year rate for overall CPI but slowing the pace of growth in core CPI, according to data released earlier Wednesday. The next European Central Bank meeting is scheduled for June 11.GBP/USD fell to 1.3398 from 1.3400 at the Tuesday US close and 1.3406 at the same time Tuesday morning. UK consumer prices rose less than expected in April, slowing the year-over-year rate of growth, according to data released earlier Wednesday. Bank of England Governor Andrew Bailey is due to speak at 9:15 am ET. The next Bank of England meeting is scheduled for June 18.USD/JPY fell to 159.0338 from 159.0470 at the Tuesday US close and 159.1277 at the same time Tuesday morning. The Reuters Tankan index, a measure of business conditions, improved in May, according to data released overnight. The next Bank of Japan meeting is scheduled for June 15-16.USD/CAD rose to 1.3765 from 1.3750 at the Tuesday US close and 1.3754 at the same time Tuesday morning. There are no Canadian data on Wednesday's schedule. The next Bank of Canada meeting is scheduled for June 10.

$EUR/USD$GBP/USD$USD/CAD$USD/JPY

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Commodities52d ago