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RBC Trims Price Target on Blackstone to $176 From $179, Keeps Outperform Rating

Blackstone (BX) has an average rating of overweight and mean price target of $145.25, 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://www..com/contact-us)

$BX

Asia60d ago

Serverworks Lowers Full-Year Net Sales, Operating Profit Forecasts

Serverworks (TYO:4434) lowered its net sales forecast for the fiscal year ending February 2027 to 47.2 billion yen from 47.3 billion yen previously, according to a Tokyo bourse filing on Monday.The IT services company also cut its operating profit estimates to 1.31 billion yen from 1.37 billion yen, and ordinary profit to nearly 1.4 billion yen from 1.42 billion yen.The downward revisions are part of a broader strategy to build an operational foundation capable of supporting scalable growth in an AI-driven market environment. The company will prioritize resale market share acquisition through large-scale enterprise projects, which temporarily lowers gross profit margins.To offset this decline, the company plans to control SG&A expenses by improving operational efficiency through internal AI adoption, thereby maintaining ordinary profit margins at previously targeted levels.

TYO:4434

Treasury60d ago

Monday's CPI to Help Understand How Much The Energy Shock Is Feeding Into Canada's Economy, Says TD

This week's focus turns to March inflation data, which will help clarify how much of the recent energy shock resulting from the Iran war is feeding through beyond gasoline, said TD.Canada is slated to release the consumer price index for March at 8:30 a.m. ET on Monday.With inflation having been relatively well-behaved heading into the conflict, the Bank of Canada is likely to look through near-term energy-driven volatility, provided core measures remain contained, stated TD. That sets up an important backdrop for the April 29 BoC policy decision, where the bank expects the policy rate to remain unchanged at 2.25%.That said, TD predicts Canada's central bank to monitor this shock carefully and act if circumstances change.In response to higher fuel costs, the Prime Minister Mark Carney government announced a temporary suspension of federal fuel excise taxes last week. These taxes amount to 10 cents/liter on gasoline and 4 cents/liter on both diesel and aviation fuels. The suspension will run from Monday through Labour Day (Sept. 7), delivering about $2.4 billion in tax relief.The move is framed as short-term affordability support for households and fuel-intensive sectors. The Liberal government also secured a majority in parliament last week after sweeping three federal byelections in Ontario and Quebec, pointed out the bank.TD won't need to wait long to see how Canada's finances are faring, with the Spring Economic Update set for April 28. This update will show how war-related shocks and new affordability measures affect the outlook.Importantly, this will be the first spring update under the new fiscal calendar adopted last fall, and markets will watch closely to see how temporary relief measures and higher defense and infrastructure ambitions are reconciled with medium-term deficit management, added the bank.Last week's data releases continued to show subdued, but stabilizing, activity, according to TD. National home resales were nearly flat in March, and prices slipped. Housing starts also weakened. The Canadian housing market remains stuck between uncertainty and affordability challenges, with early-spring activity lagging typical seasonal levels.However, manufacturing and wholesale sales improved in February, rebounding from January's decline. This recovery was driven by better transportation equipment output, as auto assembly lines returned to normal after shutdowns for retooling. While these gains are positive, they follow earlier softness and leave activity levels only slightly higher than a year ago.

$CXY

Asia60d ago

Market Chatter: China Clean Energy Exports Rise in March Amid Heightened Demand from Iran War

Chinese clean technology exports increased in March, indicating higher demand for alternative energy sources amid the war in Iran, Bloomberg reported Saturday, citing Customs.Lithium-ion battery exports climbed 34% year over year while electric vehicle exports jumped 53%, the report said.Solar cell exports soared 80% during the month, the report 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.)

Shanghai Composite^SZSE

Mining & Metals60d ago

Agnico Eagle Consolidaing Finland's Central Lapland Greenstone Belt In Three Separate Deals; Involves Rupert, Aurion, B2Gold

Agnico Eagle Mines (NYSE and TSX: AEM) announced Monday a plan to complete a consolidation of properties in the Central Lapland Greenstone Belt of Northern Finland that involves it entering into definitive agreements in respect of three separate transactions.These transactions include the acquisition of all of the issued and outstanding shares of Rupert Resources Ltd. (RUP.TO); the acquisition of all of the issued and outstanding shares of Aurion Resources Ltd. (AU.V); and the acquisition of a 70% interest in Fingold Ventures Ltd. held by B2Gold Corp. (BTO.TO), which together with the 30% interest held by Aurion, would result in Agnico Eagle owning a 100% ownership interest in the Fingold JV.A statement noted the company currently owns 13.9% of Rupert on a non-diluted basis and 9.9% of Aurion on a partially diluted basis.Agnico Eagle's President and Chief Executive Officer, Ammar Al-Joundi said: "These transactions deliver on our long standing regional strategy and build on our more than 20 years of best-in-class operating experience in Finland to establish another multi-asset, multi-decade platform in our portfolio within a world class gold belt. By consolidating the highly prospective and under explored Central Lapland Greenstone Belt, we are bringing together our long life Kittila mine, the Ikkari gold project, unconstrained by property boundaries, and a district scale land position with clearly defined targets across all stages of exploration. Supported by a proven local team with the technical, operating and exploration expertise to execute, this consolidation positions us to accelerate development, capture unique synergies, drive project level value and unlock substantial long term exploration upside for our shareholders. This approach mirrors how we have successfully built value across our Canadian platforms and represents an important next chapter for our Finland business".Shares in AEM were last look down 1% in US premarket trade on Monday, amid a lower U.S. futures market. AEM was up 2.3% in Canada and 2.4% in the U.S. last Friday.

$AEM.TO$AU.V$BTO.TO$RUP.TO

Asia60d ago

Jardine Matheson Buys Back Shares

Jardine Matheson (SGX:J36) bought back 15,000 shares in the open market on Monday for $73.2874 per share, according to a Wednesday filing with the Singapore Exchange.The repurchased shares will be canceled.

SGX:J36

US Markets60d ago

QXO to Acquire TopBuild in $17 Billion Deal

QXO (QXO) has agreed to acquire insulation products company TopBuild (BLD) in a cash-and-stock deal worth roughly $17 billion, as the roofing products distributor aims to expand its building products portfolio.Shareholders of TopBuild will have the option to receive $505 per share in cash or 20.2 shares of QXO, subject to proration, with the cash portion capped at 45% of the consideration, according to a Sunday statement. The per-share cash consideration represents a premium of about 23% to TopBuild's closing price on Friday.TopBuild's stock jumped 20% in Monday's most recent premarket activity, while QXO declined 1.5%."TopBuild will be our most significant acquisition yet, making QXO the second largest publicly traded building products distributor in North America," QXO Chief Executive Brad Jacobs said in a statement. "The TopBuild transaction will also give us critical mass in the insulation sector and expand our exposure to large, complex projects like data centers, where scale matters."The companies expect the deal to combine QXO's position in roofing, waterproofing and lumber-related building materials with TopBuild's insulation capabilities, creating an entity with $18 billion in combined revenue, according to Jacobs.The transaction, which requires approval from both companies' shareholders, is expected to complete in the third quarter. Following completion, QXO expects to have 28,000 employees and 1,150 locations across the US and seven Canadian provinces."We're excited to join QXO and combine our leadership in insulation installation and specialty distribution with QXO's scale, technology, and procurement capabilities," according to TopBuild CEO Robert Buck. "Together, we'll enhance customer service, unlock meaningful cross-selling opportunities, and drive continued growth and operating efficiency."QXO estimates the deal to be immediately and substantially accretive to its earnings. It also forecasts roughly $300 million in synergies from the integration of TopBuild by 2030, including revenue synergies from cross-selling an expanded range of integrated solutions."We see the deal adding 15%+ in (earnings per-share) accretion in 2027 given a combination of very high QXO valuation, strong margins at (TopBuild) and a potential for a better market for all in 2027," Truist Securities said in a Sunday client note.TopBuild projects to record annual revenue of $9 billion to $10 billion by 2030, according to the statement. In 2025, the company recorded adjusted sales of around $6.2 billion.In February, TopBuild said it expected sales to come in between $5.93 billion and $6.23 billion for 2026, while the current consensus on FactSet is for $6.05 billion.

$BLD$QXO

Asia60d ago

Singtel Buys Back, Cancels Shares Worth SG$39.4 Million

Singtel (SGX:Z74) bought back and canceled 8.2 million shares in the open market on Monday for SG$39.4 million, according to a same-day filing with the Singapore Exchange.To date, the telecommunications services provider has bought back nearly 87.1 million shares from its existing buyback mandate.

SGX:Z74

Asia60d ago

Japan Logistics Fund to Expand Investment Scope With New Asset Classes

Mitsui & Co., Logistics Partners, the asset manager of Japan Logistics Fund (TYO:8967), has resolved to change the REIT's asset management guideline, effective April 23.The changes aim to expand the REIT's investment opportunities by adding new asset classes to its real estate-related assets, including limited partnership interests in investment businesses that primarily invest in real estate-type assets, as well as monetary claims.Correspondingly, the revised guideline will update the REIT's portfolio construction policy and introduce new provisions for confirming matters related to the acquisition of these expanded asset types.The change is subject to shareholder approval of partial amendments to the Articles of Incorporation at the 16th general unitholders' meeting on that same day, according to a Tokyo bourse filing on Monday.

TYO:8031TYO:8967

Mining & Metals60d ago

B2Gold Provides Operational Update Related to Fire at Goose Mine, Lowers Q2 Output Forecast

B2Gold (BTO.TO) late on Sunday provided an update on the near-term operational plan related to a fire in certain areas of the crushing circuit at the Goose Mine that occurred April 16.The Goose Mine has mobile crushers on site, and the preliminary operational plan is to utilize these to feed crushed ore directly to the fine ore stockpile. Additional temporary crushing capacity has been sourced and will be transported to site in the second quarter.A preliminary revised mill processing plan has been developed for the second quarter based on the use of mobile crushers while repairs to the affected crushing circuit are completed.The repairs are expected to be completed in the third quarter and are estimated to cost about C$10 million. The crushing circuit will be able to operate at an average daily capacity of about 3,200 tonnes per day by the end of the third quarter.Gold production is expected to continue at a reduced level than previously anticipated in the second quarter. B2Gold lowered its second-quarter gold production forecast to 18,000 to 20,000 ounces, a reduction of about 10,000 ounces from the previous forecast.The company reiterated full-year 2026 gold production guidance for the Goose Mine of 170,000 to 230,000 ounces. The impact of lower availability of crushed ore as a result of the fire is expected to be limited to the second quarter of 2026.The company's initial assessment was that the fire damage was localized to the crushing circuit area. There was no damage or impact to the mill or power facility.No injuries were reported and no medical treatment was required.

$BTO.TO

International60d ago

Geopolitics, Beijing Regulatory Changes Lift Asian Stock Markets

Asian stock markets tracked north on Monday, as traders weighed pending Tehran-Washington negotiations regarding the Persian Gulf, and revamped securities-industry rules issued late Friday in Beijing.Hong Kong, Shanghai and Tokyo finished in green, as did most other regional exchanges.In Japan, the Nikkei 225 opened higher and held ground, finishing up 0.6% as traders mulled the outlook for US and Iranian negotiations this week in Pakistan.The benchmark Nikkei 225 rose 348.99 to 58,824.89, as gaining issues outnumbered losers 123 to 98.Leading the upside was Renesas Electronics, up 6.4%, while Sumitomo Pharma declined 5.9%.In Hong Kong, the Hang Seng Index opened evenly and gained in trading, closing up 0.8% on investor acceptance of securities-industry rules changes in China.The broad gauge Hang Seng rose 200.74 to 26,361.07 as gaining issues outnumbered losers 61 to 28. The Hang Seng TECH Index gained 0.5% on the day, while the Mainland Properties Index rose 0.3%.Leading the upside was Xinyi Solar, gaining 6.2%, while PetroChina declined 3.3%.On the mainland, the Shanghai Composite rose 0.8% to 4,082.13.In industry news, the China Securities Regulatory Commission (CSRC) and other authorities late Friday announced changes to regulations to strengthen market supervision and attract long-term investment.In general, the new rules ease investment by "strategic investors," or institutional money, into Chinese public companies, particularly into the powerful, voting "A-share" class, but also tighten rules on the illegal selling of shares, and the practice of "auditor shopping" for accounting services.On the other regional exchanges, the S. Korean KOSPI rose 0.4%; the Taiwan TWSE inclined 0.4%; the Australian ASX 200 inclined 0.1%; the Singapore Straits Times Index rose 0.1%, and the Thai Set was steady. In late trading in Mumbai, the Sensex was down 0.1%The MSCI All Country Asia Pacific Index rose 0.3% on the day.

Hang SengNikkei 225Shanghai Composite

Asia60d ago

Samsung SDI, Mercedes-Benz Sign First EV Battery Supply Contract

Samsung SDI (KRX:006400) and German automaker Mercedes-Benz signed a multi-year agreement under which the former will supply batteries for next-generation electric vehicles to the latter, the battery and electronic materials manufacturer said in a Monday release.The batteries will feature high-nickel, cobalt, and manganese, which would offer high energy density, more driving range, long lifespan, and high power, the release said.The two firms will also collaborate on future mobility and develop next-generation battery technology, it said.Shares of Samsung SDI jumped nearly 5% at market close.

KRX:006400

Equities60d ago

Social Buzz: Wallstreetbets Stocks Mostly Lower Premarket Monday; AST SpaceMobile to Fall, Marvell to Rise

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mostly lower hours before Monday's opening bell.AST SpaceMobile (ASTS) tumbled by 13% premarket, after a 6% decline Friday. The company said the BlueBird 7 satellite was placed into a lower-than-planned orbit during the New Glenn 3 mission and will de-orbited.Strategy (MSTR) was 2.3% lower pre-bell, after closing the previous session with a roughly 12% jump.Rocket Lab (RKLB) was down 1.8% hours before market open, following a 2.3% increase from Friday's session.Nvidia (NVDA) fell by 1.2% in premarket activity, after a 1.7% increase from the previous session.Microsoft (MSFT) declined by 0.9% pre-bell, swinging from a 0.6% increase at Friday's close.Tesla (TSLA) was 0.7% lower in premarket hours, following a 3% gain from the previous session.Antero Midstream (AM) fell by 0.5% in pre-bell activity, following a 0.2% advance from the previous session.Marvell Technology (MRVL) advanced by 7.7% premarket, after a 4.7% rise from Friday's session. Alphabet's (GOOG, GOOGL) Google is negotiating with Marvell Technology to develop two new processors optimized for artificial intelligence inference tasks, The Information reported Sunday, citing two people with knowledge of the discussions.

$AM$ASTS$GOOG$GOOGL$MRVL$MSFT$MSTR$NVDA$RKLB$TSLA

Asia60d ago

Poly Property Group Unit Sells 1.5 Billion Yuan Bonds

Poly Property Group (HKG:0119) unit Poly Property Group Co. Ltd. issued 1.5 billion yuan of corporate bonds on Monday, according to a same-day Hong Kong bourse filing.The bonds have a coupon rate of 2.53% per annum and will mature in 3+2 years.The subsidiary will use proceeds to replenish its internal funds previously used to repay debt financing instruments.

HKG:0119

Asia60d ago

CGS Sells 4 Billion Yuan Bonds

China Galaxy Securities (HKG:6881, SHA:601881) or CGS completed the issue of 4 billion yuan of 1.5% commercial paper falling due in 184 days, according to a Monday Hong Kong bourse filing.The securities broker will use proceeds to supplement its working capital.

HKG:6881SHA:601881

Asia60d ago

NTPC Begins Commercial Operations for 87.5 MW of 150 MW Rajasthan Solar Project

NTPC (NSE:NTPC, BOM:532555) said 87.5 MW of solar capacity of a 150 MW project in Rajasthan has been declared on commercial operation, effective April 19, according to an Indian bourse filing on Friday.Shares of the company rose over 1% in Monday's trade.The capacity has been commissioned by a group company of NTPC Green Energy, the filing said.With this, the total commercial capacity of NTPC Green Energy group has increased to 10,363.90 MW from 10,276.40 MW, it added.

BOM:532555NSE:NTPC

Mining & Metals60d ago

Agnico Eagle To Buy Aurion Resources In All Cash Transaction For Near C$481M; Also Rupert Resources To Be Acquired By Agnico Eagle

$AEM.TO$AU.V$BTO.TO$RUP.TO

Mining & Metals60d ago

Jaguar Mining Reporting First Quarter 2026 Operating Results

$JAG.TO

Treasury60d ago

Commerzbank on Overnight News

Commerzbank in its "European Sunrise" note of Monday highlighted:Markets: United States Treasury and Bund futures gapped lower, then stabilized. UST curve bear-flattens with 10-year yields up 2bps. E-minis open lower, Asian stocks gain modestly. DXY reverses more than Friday's drop, with the euro (EUR) falling to $1.176. Brent jumps to US$96/barrel.Fed: Federal Reserve Governor Christopher Waller says he is cautious on lowering rates amid the risk of a prolonged impact on inflation. San Francisco Federal Reserve President Mary Daly says leaving rates unchanged would still restrain inflation.Strait of Hormuz: Iran reimposed restrictions on vessel traffic for as long as the U.S. blockade of Iranian ports continues. The U.S. boarded an Iranian-flagged cargo ship.Iran war: President Donald Trump says U.S. representatives are returning to Pakistan for negotiations, he renewed threats of broad attacks on Iran's infrastructure and stands by his comment that war is "close to over." Iran has no plans to participate in new U.S. talks, doesn't see clear prospects (state TV), but it's unclear whether the decision not to attend was final.UAE: The United Arab Emirates asks the U.S. for a wartime financial backstop, like a foreign exchange swapline (WSJ).==EUROPE:ECB: Euroepan Central Bank Governing Council (GC) member Martins Kazaks says it's not a given that the next rate move will be a hike, as inflation pressures would be much weaker if shortages tilt the economy closer to recession. GC member Alexander Demarco says it's a "bigger risk to rush raising rates" than to wait a bit longer. Both members wouldn't object to market bets for two rate hikes this year. GC member Martin Kocher warns against preemptive rate action.EU diplomats fear a rushed framework agreement with Iran will lock in weak commitments and spark new disputes, leaving the region more unstable than before (Reuters).Bulgaria: Former President Rumen Radev, who opposes sanctions on Russia and military aid for Ukraine, wins an absolute majority in parliament, says Europe needs to think about how to secure resources, as it isn't competitive without cheap energy.Ratings: Moody's downgrades Belgium to A1 from Aa3, changes outlook to stable from negative, and affirms Lithuania at A2/stable. DBRS confirms Italy and Slovakia at A (low)/stable, EU at AAA/stable.

$CXY$EUR

Mining & Metals60d ago

Agnico Eagle To Consolidate Finland's Central Lapland Greenstone Belt In Three Separate Transactions; Involves Rupert, Aurion, B2Gold

$AEM.TO$AU.V$BTO.TO$RUP.TO

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US Markets60d ago

QXO to Acquire TopBuild in $17 Billion Deal

$BLD$QXO