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Citigroup Upgrades California Resources to Buy From Neutral, Adjusts Price Target to $78 From $74

California Resources Corp (CRC) has an average rating of overweight and mean price target of $76.69, 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)

$CRC

Asia52d ago

Shenzhen Expressway Issues 1 Billion Yuan Bonds in China's Interbank Market

Shenzhen Expressway (HKG:0548, SHA:600548) issued 1 billion yuan of bonds in China's interbank market on Tuesday, according to a Wednesday Hong Kong bourse filing.The bonds carry an interest rate of 1.6% and will fall due in three years on May 20, 2029, the Chinese expressway operator said.

HKG:0548SHA:600548

Research52d ago

TD Cowen Upgrades Ermenegildo Zegna to Buy From Hold, Adjusts Price Target to $15 From $13

Ermenegildo Zegna N.V (ZGN) has an average rating of overweight and mean price target of $13.16, 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)

$ZGN

Asia52d ago

Jefferies Adjusts Indian Oil's Price Target to INR175 From INR185, Keeps at Buy

Indian Oil (NSE:IOC, BOM:530965) has an average rating of overweight and mean price target of 162.69 Indian rupees, 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)

BOM:530965NSE:IOC

Sectors52d ago

Brent Crude Down Near 1.7% at Near US$102.40

$CLM6$LCON6$USO

Asia52d ago

Jefferies Adjusts Indraprastha Gas' Price Target to INR180 From INR205, Keeps at Buy

Indraprastha Gas (NSE:IGL, BOM:532514) has an average rating of overweight and mean price target of 198.80 Indian rupees, 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)

BOM:532514NSE:IGL

Mining & Metals52d ago

S&P Futures Up 0.33%

S&P/TSX CompositeS&P/TSX Composite

Asia52d ago

Mankind Pharma's Consolidated Profit Rises in Fiscal Q4; Shares Up 3%

Mankind Pharma (NSE:MANKIND, BOM:543904) consolidated profit attributable to equity holders climbed to 5.54 billion Indian rupees in the fiscal fourth quarter from 4.21 billion rupees a year ago, according to an Indian bourse filing on Tuesday.Shares of the company rose 3% in Wednesday's trade.Earnings per share for the quarter ended March 31 increased to 13.41 rupees from 10.18 rupees a year earlier, the filing said.The pharmaceutical company's revenue from operations in fiscal Q4 rose year on year to 34.4 billion rupees from 30.8 billion rupees.

BOM:543904NSE:MANKIND

Research52d ago

Arete Upgrades Etsy to Buy From Neutral, Adjusts Price Target to $76 From $60

Etsy (ETSY) has an average rating of hold and mean price target of $72.29, 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)

$ETSY

Asia52d ago

Samvardhana Motherson Plans Up to INR50 Billion Debt Offering

Samvardhana Motherson International (NSE:MOTHERSON, BOM:517334) received in-principle board approval to raise up to 50 billion Indian rupees through the issue of debentures on a private placement basis, according to a Wednesday filing to the Indian stock exchanges.The auto components manufacturer plans to issue 500,000 non-convertible debentures with a face value of 100,000 rupees each in one or more tranches.The debt securities will be listed on the BSE or the National Stock Exchange of India.The company's shares were up nearly 2% in recent trade.

BOM:517334NSE:MOTHERSON

Research52d ago

Citigroup Upgrades Ovintiv to Buy From Neutral, Adjusts Price Target to $70 From $62

Ovintiv (OVV) has an average rating of overweight and mean price target of $70.25, 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)

$OVV

Asia52d ago

Malaysian Shares Records Sixth Day of Losses as Macro Tailwinds Fail to Lift Market Gloom

Malaysian shares fell for a sixth straight session on Wednesday, as investors remained downbeat despite positive trade data in April.The FTSE Bursa Malaysia KLCI shed 9.58 points to end nearly 0.6% lower at 1,717.69. The day range was between 1,716.47 and 1,727.50.In economic news, Malaysia's total trade rose 28.6% year-on-year to 336.7 billion ringgit in April, driven by strong growth in both exports and imports, according to data released by the Department of Statistics. Exports surged 36.9% to 182.7 billion ringgit, while imports climbed 20% to 154 billion ringgit. As a result, the trade surplus widened to 28.8 billion ringgit from 23.6 billion ringgit a year earlier.In corporate news, Bus Cap's initial public offering has been oversubscribed by 72.24 times. The IPO involves a public issue of 107.4 million new shares and an offer for sale of 19.2 million existing shares at an IPO price of 0.23 ringgit per share on Bursa Malaysia's ACE Market.Shares of Vizione (KLSE:VIZIONE) gained about 6% on today's close after its unit Bina Permai secured a 65.6 million ringgit contract for main building works of a residential apartment project in Kuala Lumpur, Malaysia.Whereas, shares of Maxis (KLSE:MAXIS) slid about 2% on Wednesday's close after its unit Maxis Broadband issued two tranches of Sukuk Murabahah, totaling 1 billion ringgit, under its existing 10 billion ringgit debt program.

FTSE Bursa Malaysia KLCIKLSE:MAXISKLSE:VIZIONE

Equities52d ago

Tasnee Price Target Up as Riyad Capital Notes Q1 Results

Riyad Capital raised its price target for National Industrialization Co. (SASE:2060), d/b/a Tasnee, following the industrial and petrochemical company's first-quarter results."Tasnee recorded a net loss of SAR (341) mln, wider than our estimate of SAR (152) mln, driven by the SAR 299 mln share of loss from associates and JVs. Offsetting the operational weakness: a commercial-bank refinancing term sheet for the SAR 2.0 bln current portion of LT borrowings, extending maturity by 7 years beyond November 2026; the RITC SPA signed in 1Q26 with Tahweel for SAR 700 mln; and the initiation of idling of Furnace One at Jazan," Riyad Capital said in a first look note published Tuesday.Revenue for the three months ended March 31 came in at 495 million Saudi riyals, down 23.6% year over year and below the research firm's forecast of 585 million riyals. Analysts attributed the annual decline to the group's weaker-than-expected acrylic business performance."With current negative macro factors and Hormuz shipping exposure, but ample cash and several impairments in the rear-view mirror, we maintain our Neutral rating and raise our target price [to SAR9]," analysts added.

SASE:2060

Asia52d ago

Da Ming Grants 2 Million Share Awards

Da Ming International (HKG:1090) granted nearly 2 million award shares to eight employees as bonuses under an employee incentive scheme, according to a Wednesday Hong Kong bourse filing.Of the total, 500,000 award shares were granted to Ni Chen, who will join the board as an executive director effective June 1.

HKG:1090

Asia52d ago

China Merchants Property Operation Plans Commercial REIT Listing

China Merchants Property Operation & Service (SHE:001914) will jointly file for a commercial real estate investment trust offering with CMP Financial, according to a Wednesday filing with the Shenzhen bourse.The proposed REIT, to be listed on the Shenzhen Stock Exchange, will include Shenzhen Taizi Plaza and Kunshan Merchants Garden City.CMS Asset Management will act as the fund manager and special plan manager.CMP Financial is a subsidiary of the company's controlling shareholder, CMSK.Shares of the real estate developer closed 2% higher on Wednesday.

SHE:001914

Asia52d ago

Balaji Amines Begins Commercial Production of Dimethyl Ether at Solapur, India Unit; Shares Up 7%

Balaji Amines (NSE:BALAMINES, BOM:530999) has begun commercial production of dimethyl ether (DME) at the fourth unit in Solapur, in Maharashtra, India, with effect from Wednesday, according to a same-day filing to the Indian stock exchanges.The unit has a capacity of 100,000 tons per annum under expansion cum diversification of a new-age gas used as an alternative to LPG for fuel and aerosol applications.With this commissioning, the company will initially focus on catering to the aerosol industry and other commercial applications for heating, as a fuel.The company's shares were up nearly 7% in recent trade.

BOM:530999NSE:BALAMINES

Asia52d ago

Jefferies Adjusts Zydus Lifesciences' Price Target to INR1,200 From INR1,100, Keeps at Buy

Zydus Lifesciences (NSE:ZYDUSLIFE, BOM:532321) has an average rating of overweight and mean price target of 1,031.39 Indian rupees, 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)

BOM:532321NSE:ZYDUSLIFE

Equities52d ago

United Securities Lifts Ades Price Target After Q1 Results

United Securities LLC raised its price target for Ades Holding (SASE:2382) as it took note of the offshore and onshore drilling company's first-quarter results."ADES delivered strong financial performance in 1Q26, although net income growth was partially constrained by lower margins. However, this was in line with management guidance, and we expect margin levels to improve gradually over the coming years as integration progresses and synergies are realized," analysts said Tuesday.For the three months ended March 31, Ades reported a net profit of 236.4 million Saudi riyals, with 2.39 billion riyals in revenue. The research firm attributed the group's robust revenue performance to the acquisition of Shelf Drilling, while noting that margin pressure following the deal limited its net overall profitability growth."The ongoing regional conflict has thus far had a limited impact on ADES's operations, and we take comfort from the company maintaining its EBITDA guidance of SAR 4.5-4.87bn for 2026. Nevertheless, a prolonged escalation in regional tensions could adversely affect performance, which continues to underpin our cautious outlook on the company. Overall, we raise our target price for ADES to SAR 21 per share, which implies a Hold rating," United Securities said.

SASE:2382

Commodities52d ago

Middle East Energy Crisis Drives Demand for EVs in Europe, Reuters Analysis Shows

The sharp rise in fuel prices due to the energy supply crisis linked to the ongoing Middle East conflict has boosted sales of new and second-hand electric vehicles in Europe, according to a Reuters analysis on Wednesday.Registrations of new EVs across the continent saw a 34% year-on-year jump in April, the report said, citing exclusive data from research group New Automotive and industry group E-Mobility Europe.The data covers 16 markets accounting for more than 80% of European Union and European Free Trade Association car sales, the report said.Demand rose in countries like Denmark and Netherlands, where electric cars are already well-established, as well as Italy, where EVs haven't really caught on yet, the report said.Meanwhile, online marketplaces have also recorded a surge in searches for new and used EVs, especially for more affordable Chinese brands and models, the report added.While the trend of consumers temporarily shifting to fuel-efficient cars during significant fuel price spikes has been observed as far back as the 1970s, the situation could be different on this occasion.The Iran conflict has fundamentally altered how people view energy security in their daily lives, the report said, citing industry players.

Sectors52d ago

Crude Oil Prices Fall Following Trump Remarks About Ending Iran War Soon

Crude oil prices fell on Wednesday following remarks from U.S. President Donald Trump of a quick end to the war in the Middle East.Brent crude at last look fell 1.8% to US$109.28/barrel and West Texas Intermediate crude lost 0.8% to $107.77/barrel. U.S. Vice President JD Vance also said U.S. and Iran had made progress in talks, but investors remain wary about the outcome, Reuters said in a Wednesday report."Prices are likely to still exhibit some upside potential even if a deal is concluded, given that supply will likely not return to pre-war levels immediately," Reuters quoted LSEG research analyst Emril Jamil as saying.Oil prices are expected to rise further amid the risk of a prolonged supply disruption and global oil stocks reaching critically low levels, analysts said in the report.U.S. crude stockpiles are expected to have fallen by about 3.4 million barrels, according to a Reuters poll. The U.S. Energy Information Administration is due to publish its weekly oil market data report Wednesday afternoon.

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