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Market Chatter: India Reportedly Eyes Energy Deals With Mauritius, Seychelles

India is reportedly reviewing energy supply requests from Mauritius and Seychelles while seeking government-level agreements, according to multiple media sources on Friday.New Delhi is evaluating Mauritius' request for fuel shipments and prefers a bilateral government-to-government framework to formalize any potential supply arrangement, according to the reports, citing a foreign ministry spokesperson.India has already been supplying fuel to several neighboring countries, including Bangladesh, Nepal, Bhutan, and Sri Lanka, and has also received a similar request from the Maldives.The country relies on the Strait of Hormuz for about 40% of its crude imports and has been invited by Britain and France to join efforts to secure the key shipping route, according to reports.has reached out to the India's Ministry of External Affairs for any comments.(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.)

Mining & Metals62d ago

TSX Jumps Over 300 Points at Midday After Strait of Hormuz Re-opens

The Toronto Stock Exchange jumped 316 points at midday, after Iran re-opened the Strait of Hormuz to commercial traffic as ceasefire negotiations continue.Energy is the worst performer, down 6.8%. Crude oil is down near 12% to US$81.98 after Iran this morning reopened the Strait of Hormuz, freeing tankers trapped in the Persian Gulf and ending a supply shock that sent prices to four-year highs.The best performers are info tech (+2.4%) and financials (+1.7%).Canadian housing starts fell to 235.9k annualized units in March, down 6% month-on-month (m/m). Meanwhile, the six-month moving average of starts dropped 3% m/m to 248.4k units in March. March's decline was concentrated in the multi-family sector, with urban starts down 7% m/m to 184.9k units. Urban single-detached starts dropped 2% m/m to 39.1k units. Declines were broad-based regionally, with urban starts down in 8 of 10 provinces.As anticipated, TD Economics said, the "volatile" starts data pulled back in March after the prior month's gain. For the first quarter overall, housing starts were down 6% (not annualized), signaling that they will likely weigh on Q1 residential investment and overall GDP growth, the bank added."On a trend basis starts are well down from their September 2025 high. This downtrend should be sustained through the remainder of this year amid soft population growth, elevated unsold inventories, and weak past pre-sales activity key markets like the GTA. Upcoming government policies to remove the GST/HST on new homes and reduce development charges in Ontario should spur demand for newly built housing. However, some of the lift to starts from these policies could come after this year, given typical lags between pre-sales and starts," TD added.

S&P/TSX CompositeS&P/TSX Composite

Commodities62d ago

European Commission's Jorgensen Spain Trip Focuses on Energy Costs

The European Commission said Friday that Commissioner Dan Jorgensen will visit Spain from April 20-21 to address key issues, including energy security, with national and regional stakeholders.The visit will span Madrid and Barcelona, where discussions will center on reducing energy costs, among others, with policymakers, industry groups, and youth representatives.In Madrid, Jorgensen is scheduled to meet Prime Minister Pedro Sanchez and Ecological Transition Minister Sara Aagesen to review clean energy priorities and broader transition strategies, the Commission said.He will also participate in the Esade Annual Energy Meeting and deliver remarks at the WindEurope Annual Event 2026, both focused on advancing secure, affordable and sustainable energy systems.In Barcelona, the commissioner will visit Fusion for Energy, the European Union agency contributing to the ITER project, a large-scale initiative aimed at developing fusion-based energy solutions, the Commission added.

Research62d ago

Research Alert: CFRA Initiates Coverage On Shares Of Medline Inc. With A Hold Rating

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month price target of $52 is 31.5x our 2027 EPS estimate (starts at $1.65; 2026 EPS estimate is $1.47), a premium to MDLN's 28.6x forward average since IPO in December 2025. Though MDLN generates significantly lower revenue than large pharma distributors such Cardinal Health (CAH 212 ****), MDLN's vertically integrated model and vast product portfolio supports much stronger operating margins than peers, in our view. We anticipate 8.5%-9.0% sales growth in 2026, toward the high end of MDLN's organic growth guidance, supported by new customer signings, though offset somewhat by potential headwinds for health care utilization levels due to coverage losses from the OBBBA legislation and the recent expiration of the ACA enhanced premium tax credits, which may pose a drag on medical-surgical product sales. Positively, we see strong sales visibility with $2.4B of new customer signings during 2025, including a long-term partnership with the U.S. Department of Veterans Affairs (VA).

$MDLN

Mining & Metals62d ago

Edge Total Intelligence's Australian Unit Secures A$1.15 Million Maritime Naval Contract

Edge Total Intelligence (CTRL.V) on Friday said its Western Australia-based business unit, edgeTI WA, secured a a another contract, valued at approximately AU$1.15 million, in the country's defensel maritime sector.The company said that edgeTI WA secured the contract as part of its ongoing maritime support partnership with an "international prime shipbuilder," increasing total bookings to AU$2.91 million and reaffirming demand for its targeted maritime defense and border force solutions."This contract reinforces the company's strategic expansion into defense and industrial operations, where customer demand for overmatched Digital Fleet Lifecycle capabilities is a relentless signal," it said.The company added that the awarded scope is for various Navy and Border Force programs including Acquisition Data Management, ILS Digital Maintenance Baseline Solutions, and On-vessel Production Validation & Testing."This follow-on contract is more than a financial milestone; we believe it validates EdgeTI's strategic goal to innovate at speed and get mission-driven capabilities to the warfighter," said Jason Nichols, Chief Executive Officer of edgeTI. "By integrating the high-end maritime capabilities acquired earlier this year, we've set the stage to advance our support to Digital Fleets - delivering true Decision Advantage at the tactical edge."The company's shares were last seen up C$0.05 to C$0.80 on the TSX Venture Exchange.Price: $0.80, Change: $+0.05, Percent Change: +6.67%

$CTRL.V

Equities62d ago

Borr Drilling Wraps Up Offering of 2033 Convertible Notes

Borr Drilling (BORR.OL) sold a total of $300 million in its recently completed offering of unsecured convertible senior notes due May 1, 2033.The notes carry an interest of 3.50% per annum and are convertible into the drilling contractor's common shares, cash, or a combination of the two, according to a Friday release.Borr Drilling earmarked proceeds to buy back existing convertible bonds due 2028 and for general corporate needs.

$BORR.OL

Asia Markets62d ago

UK FTSE 100 Closes in the Green Amid Growing Middle East Conflict Resolution Optimism

London's FTSE 100 closed the trading week 0.73% higher on Friday amid renewed optimism over the resolution of the Middle East conflict as a 10-day ceasefire agreement between Israel and Lebanon takes effect."The fragile ceasefire between Israel and Lebanon removes one key obstacle for the US-Iran talks. However, a number of issues remain, not least Iran's nuclear program and the control of the Strait of Hormuz," Danske Bank said in a note. "We expect the ceasefire to be extended over the weekend, but as European and Gulf officials warned yesterday, we think a more permanent deal will take months."With the agreement in place, Iranian Foreign Minister Abbas Araghchi said in a social media post on X that the Strait of Hormuz is "declared completely open" for all commercial vessels "for the remaining period of ceasefire."The UK economic calendar was quiet for the day. Looking ahead, next week will see the release of several private sector and economy-related data, including the March British inflation figures.On the corporate side, Fitch affirmed Kingfisher plc's (KGF.L) BBB long-term issuer default rating, with a stable outlook, mainly reflecting its leading position in the home improvement retail market and expectations that the company's credit metrics will remain in line with its rating. The stock was up 2.39% at closing.Meanwhile, oil and gas giants BP (BP.L) and Shell (SHEL.L) were among the blue-chip index's top fallers, logging respective declines of 7.36% and 5.57% at the end of the trading session.

FTSE 100$BP.L$KGF.L$SHEL.L

Asia Markets62d ago

Germany's DAX Index Ends Week Higher; Deutsche Börse Gains

German equities finished the week on an upbeat note, with the blue-chip DAX index 2.27% higher at Friday's close, as markets digested signals of potential diplomatic progress in the Middle East.Geopolitical tensions showed signs of cooling as a 10-day ceasefire between Lebanon and Israel took hold Thursday. Investors also responded positively to US President Donald Trump saying they are "very close" to reaching an agreement with Iran, adding that talks may resume over the weekend.On this side of the Atlantic, the euro area recorded a trade surplus of 11.5 billion euros in February, following a revised trade deficit of 1 billion euros a month ago. Eurostat reported that exports of goods to the rest of the world declined by 6.7% year-over-year to 232.4 billion euros, while imports saw a 2.2% reduction, settling at 220.9 billion euros.On the corporate side, Deutsche Börse (DB1.F) added 0.62%, as BofA Global Research upgraded its rating and price objective, citing the German exchange operator's solid market positioning amid current uncertainties."We upgrade Deutsche Borse (DB1) to Buy from Neutral with a new [price objective] of EUR300 (ADR $35.39) as we think it is best positioned among European exchanges in the current environment for greater volumes and NII on higher rates and cash balances. Q126 volumes are up double-digit % YoY in cash equities, fixed income derivatives and particularly commodities given energy disruption caused by the Middle East conflict, which has potential to persist. Accordingly, we raise cash EPS 6-7% and are 2-6% above Visible Alpha consensus. Our 2026 and 2028 forecasts now assume DB1's targets are met despite IMS headwinds. We see further EPS upside from the Allfunds (ALLFG) deal if approved (not in our estimates)," the research firm wrote.Meanwhile, German technology group Siemens (SIE.F) plans to seek investor approval for the spinoff of medical technology company Siemens Healthineers (SHL.F) at its annual general meeting in February 2027. As part of the deconsolidation strategy, Siemens Healthineers shares will be distributed directly to existing Siemens shareholders. Siemens gained 3.36%, while Siemens Healthineers was up 1.46% at closing."The slower pace of the SHL spin-off will be disappointing to some investors, though was always a risk given the tight EGM timeframe. We note the longer-term business simplification story is clearly unchanged (and we would expect continued incremental SHL sell-downs on the market over time, in line with prior company comments)," analysts at RBC Capital Markets said in a quick-take note.

^DAX$DB1.F$SHL.F$SIE.F

Asia Markets62d ago

European Stocks Rise in Friday Trading Following Middle East War Ceasefire

The European stock markets were tracking higher in Friday trading as a 10-day ceasefire between Israel and Lebanon has gone into effect, and Iran announced that it has reopened the Strait of Hormuz, which sent oil prices tumbling.The Stoxx Europe was rising 1.4%, Germany's DAX was surging 2.2%, the FTSE 100 was increasing 0.7%, France's CAC was up 2%, and the Swiss Market Index was moving 1.7% higher.Falling oil prices hit European energy companies as BP and Shell were falling 7.2% and 5.4% respective in London, while shares of Eni were dropping 7% in Milan. RWE and E.ON were down 4% and 1.8% respectively in Frankfurt, while TotalEnergies and Engie were losing 5.2% and 1.4% respectively in Paris.And in corporate news, Deutsche Bank has notified Germany's central bank Bundesbank that it may have violated sanctions that limit deposits of Russian individuals to less than 100,000 euros ($118,000), multiple media outlets reported Friday.A Deutsche Bank compliance group discovered the potential breach after Germany updated its legislation earlier in the year to implement the EU sanctions.Deutsche Bank didn't immediately respond to a request for comment from.Shares of Deutsche Bank were up close to 3% in Frankfurt.HSBC is in talks to sell its retail banking assets in Indonesia, with Oversea-Chinese Banking Corp., or OCBC, emerging as the preferred bidder, Bloomberg reported Friday, citing people familiar with the matter.The potential deal could value the business at more than 6 trillion rupiah ($350 million), though discussions remain ongoing and no final decision has been made, the report said.HSBC and OCBC did not immediately respond to' requests for comment, while attempts to reach Sumitomo Mitsui Financial Group were unsuccessful.Shares of HSBC were moving 2% higher in London.Ericsson reported Q1 earnings Friday of 0.27 Swedish krona ($0.029) per diluted share, down from 1.24 krona a year earlier.Analysts polled by FactSet expected 1.04 krona.Net sales for the quarter ended March 31 were 49.33 billion krona, down from 55.03 billion krona a year earlier. Analysts surveyed by FactSet expected 50.93 billion krona.The company also said it authorized a stock buyback plan worth up to 15 billion krona, scheduled to begin on Thursday.Shares of the Swedish telecommunications company fell more than 4% in Stockholm.

Asia Markets62d ago

Swiss Blue-chip Index Ends Week Upbeat on Renewed Middle East Peace Hopes

Swiss stocks staged a recovery on Friday, with the Swiss Market Index closing 1.92% in the green, amid fresh hopes that war in the Middle East will soon reach a resolution.Iran's foreign minister declared on X that the Strait of Hormuz is "completely open" for passage of all commercial vessels "for the remaining period of ceasefire," in line with the 10-day ceasefire agreement between Lebanon and Israel that is now in effect. Meanwhile, President Donald Trump said on the Truth Social platform the US naval blockade of Iranian ports will continue "until such time as our transaction with Iran is 100%."Back home, Switzerland signed an investment protection agreement with Bahrain on the sidelines of the World Bank Group and International Monetary Fund spring meetings in the US. The agreement will take effect following completion of internal approval procedures in both countries.Over to corporates, Berenberg increased its price target for VAT Group (VACN.SW) to 480 francs from 466 francs, with an unchanged hold rating on the stock, noting that underlying demand "continues to run hot." The Swiss vacuum valves maker's order intake reached 356 million francs in the first quarter, although deliveries were affected by disruptions caused by the Middle East war. The stock gained 6.09% at closing."Following its Q1 update, VAT struck a confident tone, reiterating that it feels comfortable with around CHF1.3bn of full-year consensus sales. However, the implied trajectory is anything but conservative. Based on Q2 guidance of CHF265m-295m, the setup clearly points to a back-end-loaded year, with a strong H2 required to bridge the gap," the research firm said in a note. "In our view, this guidance effectively assumes that production ramps, supply chains and customer deliveries all run without friction, which we consider to be a high bar in an environment that still lacks full visibility."Partners Group (PGHN.SW) also closed the session 3.38% higher as it concluded its eighth private equity secondaries program, securing more than $9 billion of total commitments from clients. The Swiss private equity giant's program is 60% committed, with a highly diversified investor base, including institutional investors across Europe, Asia-Pacific and the US.

^SSMI$PGHN.SW$VACN.SW

US Markets62d ago

Netflix Investors Disappointed With Unchanged Margin Outlook, MoffettNathanson Says as Shares Plunge

Netflix (NFLX) disappointed investors by maintaining its margin outlook even though its cost base apparently would have benefited from its decision to walk away from a deal to acquire Warner Bros. Discovery (WBD), MoffettNathanson said in a report on Friday.The streaming giant late Thursday posted first-quarter revenue above Wall Street's estimates. It maintained the full-year revenue guidance at $50.7 billion to $51.7 billion and an operating margin outlook at 31.5%.The FactSet-polled consensus is for $51.33 billion in 2026 sales.Netflix in February abandoned its plan to acquire Warner Bros., handing it over to Paramount Skydance (PSKY). Last quarter, the company pointed to $275 million in M&A expenses this year, which most saw as fully attributable to the then-pending Warner Bros. deal, MoffettNathanson Senior Research Analyst Robert Fishman wrote.However, after incorporating the acquisition of AI filmmaking technology company InterPositive and the pull forward of Warner Bros. deal costs, total M&A expenses remained largely unchanged, Fishman said. Netflix Chief Financial Officer Spencer Neumann made similar remarks on an earnings call Thursday.Netflix acquired InterPositive in March.Some on Wall Street, including UBS Securities, were pricing in an upgrade to the revenue outlook due to earlier-than-expected price increases. But the unchanged margin guidance came as a "bigger surprise" than Netflix reiterating its revenue guidance, Fishman said.The stock plunged nearly 10% in Friday trade.The company announced pricing changes for all its US plans in March, including a new $8.99 monthly subscription for the ad-supported standard tier.MoffettNathanson said Netflix's long-term trajectory remains intact."Sure, the absence of a raise to 2026 guidance likely caught some ahead of their skis on near-term margin expectations; yet, the M&A costs in the 2026 expense base only create an easier comp for next year," Fishman wrote.Price: $97.90, Change: $-9.90, Percent Change: -9.18%

$NFLX$PSKY$WBD

Treasury62d ago

Borr Drilling Completes $300 Million Convertible Notes Offering

Borr Drilling (BORR) said Friday it has completed a $300 million offering of convertible senior notes due 2033, including $40 million from an over-allotment option.Proceeds will be used to repurchase its convertible bonds due 2028 and for general corporate purposes, the firm said.Price: $5.53, Change: $+0.09, Percent Change: +1.65%

$BORR

Mining & Metals62d ago

Hertz Energy Expands Its Lake George Antimony-Tungsten Property

Hertz Energy (HZ.CN) said Friday it "significantly" expanded its land holdings surrounding the past producing Lake George Antimony Mine in New Brunswick. The company is also initiating an exploration program on its claims package.The company, which currently holds three mineral claims, totaling 2,036 hectares which surround the Lake George antimony mine on three sides, has entered into a 90-day exclusivity agreement with a third-party vendor to acquire an additional two mineral claims covering an area of 2,356.2 hectares, and contiguous with its existing claim blocks.The expansion gives Hertz Energy exposure to the same structural controls and host rocks that supported North America's largest primary antimony producer until 1996, a statement said.Hertz Energy has initiated exploration permitting at Lake George antimony project and sent out landowner notifications and initiated exploration permitting and contractor selection.Hertz Energy shares were last seen up $0.02 to $0.40 on the Canadian Securities Exchange.Price: $0.40, Change: $+0.02, Percent Change: +5.26%

$HZ.CN

Mining & Metals62d ago

PlasCred Circular Innovations Upsizes Non-Brokered Private Placement to $7 Million

PlasCred Circular Innovations (PLAS.CN) on Friday said it upsized a non-brokered private placement of share units to $7 million from $5 million.The company said it will now place up to 41.18-million units priced at $0.17 and made up of a share and a three-year warrant to buy a share for $0.22.Proceeds will be used to advance development of the company's Neos commercial facility including detailed engineering, permitting, procurement of long-lead equipment, and for general working capital.Shares of the company were last seen up $0.005 to $0.17 on the Canadian Securities Exchange.Price: $0.17, Change: $+0.01, Percent Change: +3.13%

$PLAS.CN

Commodities62d ago

Petrobras to Lead Block 3 Development in Sao Tome and Principe After Stake Purchase

Brazil's state-run oil company Petrobras (PBR) said Friday it has agreed to acquire a controlling stake and assume operatorship of offshore Block 3 in Sao Tome and Principe from Nigeria's Oranto Petroleum.Under the terms of the deal, Petrobras will take a 75% interest in the block located offshore the tiny island nation of Sao Tome and Principe, which sits in the Gulf of Guinea off Africa's west coast.Upon completion, the consortium will consist of Petrobras as operator with 75%, Oranto with 15%, and the National Petroleum Agency of Sao Tome and Principe retaining its 10% stake. Oranto currently holds a 90% interest and serves as operator.Petrobras said the acquisition builds on its renewed presence in Africa since 2024, where it already holds stakes in other blocks in Sao Tome and Principe. The move is aimed at strengthening exploration activities in the region and diversifying the company's portfolio.Completion of the deal is subject to customary conditions, including regulatory and government approvals in Sao Tome and Principe.Petrobras said it will disclose any material developments related to the transaction to the market.Price: $19.98, Change: $-1.52, Percent Change: -7.07%

$PBR

Research62d ago

Lassonde Industries Maintained at Buy at Stifel Canada; Price Target Kept at C$280.00

Stifel Canada on Friday reiterated its buy rating on the shares of Lassonde Industries (LAS-A.TO) and its C$280.00 price target as it hosted investor meetings with fruit juice and snacks company."We recently hosted investor meetings with Lassonde. Most of the discussions focused on growth plans and investments. We believe Lassonde is under-appreciated given its depressed valuation. The company has (1) organic revenue growth opportunities from recently introduced formats and further penetration in various distribution channels, (2) cost savings opportunities with the New Jersey plant, and (3) M&A opportunities. Lassonde's recent acquisition, Summer Garden, has been a success with a smooth integration and healthy synergy realization. This provides the company with credibility to make further acquisitions. It is not clear how long valuation will remain depressed, below 10x forward earnings, and what catalyst could help valuation re-rate closer to its historical level of 13x. A potential return to historical valuation would represent a stock price of $360, up more an upside of more than 50% from current levels. We believe the current share price provides investors with an appealing entry point," analyst Martin Landry wrote.(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)Price: $230.00, Change: $-0.21, Percent Change: -0.09%

$LAS-A.TO

Oil & Energy62d ago

Update: Iran Opens Strait of Hormuz for all Commercial Vessels

(Updated with additional details from Trump's Truth Social posts and the latest price movement.)Iran on Friday declared passage for all commercial vessels through the vital Strait of Hormuz, in line with the ceasefire in Lebanon.Hormuz will remain open for the remainder of the ceasefire, Iran's Minister of Foreign Affairs Abbas Araghchi posted on X."In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran," Araghchi said.Oil prices fell sharply following the developments, with Brent declining about 11% to $88.73 per barrel, Murban also down 11% at $90.38/bbl, and West Texas Intermediate dropping about 13% to $82.77/bbl.The announcement also elicited a reaction from US President Donald Trump."Iran has just announced that the Strait of Iran is fully open and ready for full passage. Thank you," Trump posted on Truth Social.In multiple follow-up posts, Trump said a blockade on Iran remains in place until a final agreement is reached.He said, "the naval blockade will remain in full force and effect as it pertains to Iran, only, until such time as our transaction with Iran is 100% complete."Trump also signaled that talks are nearing completion, saying, "This process should go very quickly in that most of the points are already negotiated."Trump also pointed to progress in clearing navigation risks in the waterway, saying, "Iran, with the help of the USA, has removed, or is removing, all sea mines."In a separate post, Trump criticized Nato, suggesting it was not helpful earlier but offered assistance after the situation had already ended.Trump posted, "Now that the Hormuz Strait situation is over, I received a call from Nato asking if we would need some help. I told them to stay away, unless they just want to load up their ships with oil."Trump also thanked Saudi Arabia, UAE, and Qatar, saying, "Thank you to Saudi Arabia, UAE, and Qatar for your great bravery and help!"Separately, he also thanked Pakistan for its role in the negotiations.The US will retain nuclear material generated from recent operations, Trump said, stressing that no financial exchange will be involved under the arrangement.The agreement does not involve Lebanon, Trump added, but said the US will address the situation separately, adding Israel is "prohibited" from further strikes while Washington handles Hezbollah."Iran has agreed to never close the Strait of Hormuz again. It will no longer be used as a weapon against the world," he posted.The Strait of Hormuz, the primary maritime passage for most Middle East oil shipments, connects the Persian Gulf to the Gulf of Oman and handles almost 20% of global oil and gas flows.

Wire62d ago

Piper Sandler Adjusts Campbell's Price Target to $22 From $25, Maintains Neutral Rating

Campbell's (CPB) has an average rating of Hold and mean price target of $23.29, 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://www..com/contact-us)Price: $21.21, Change: $+0.26, Percent Change: +1.27%

$CPB

Wire62d ago

Piper Sandler Adjusts Becton, Dickinson and Company PT to $159 From $170, Maintains Neutral Rating

Becton, Dickinson and Company (BDX) has an average rating of overweight and mean price target of $186.18, 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)Price: $159.68, Change: $+4.86, Percent Change: +3.14%

$BDX

Wire62d ago

Piper Sandler Adjusts GE Healthcare Technologies PT to $88 From $96, Maintains Overweight Rating

GE Healthcare Technologies (GEHC) has an average rating of overweight and mean price target of $90.41, 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)Price: $75.36, Change: $+2.16, Percent Change: +2.95%

$GEHC

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Oil & Energy62d ago