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UK's FTSE 100 Closes Week Flat; AO World Shares Jump

British stocks concluded the trading week flat, with the FTSE 100 down 0.03% on Friday's close amid a quiet day of local economic news and the expected weekend peace talks between the US and Iran."Financial markets breathed a sigh of relief this week as the US and Iran announced a two-week ceasefire. However, the truce looks fragile and the Strait of Hormuz is still effectively closed, so we don't plan any major changes to our UK growth and inflation projections as part of our global forecast update on April 13," Oxford Economics said in a note."The ceasefire lessens the chances of more disruptive outcomes playing out. But even if a full-blown truce is agreed, it will take time for energy production and shipping traffic to return to normal levels," the research firm added. "Our current baseline assumption is that the Strait of Hormuz remains effectively closed until the end of April, with traffic levels rising to around 50% in May and June, before gradually recovering to normality over the following six months."Oxford Economics currently expects the UK's gross domestic product growth to stand at 0.4% in 2026 and 0.9% in 2027, while inflation in the country is projected to reach 4.5% in the fourth quarter of 2026.In corporate news, Kingfisher plc (KGF.L) was one of the blue-chip index's top gainers, rising 2.70% at closing, as it commenced the first tranche of its share repurchase program worth up to 300 million pounds sterling. The British home improvement company will buy back a maximum of 75 million pounds of its shares under the initial tranche, which will be canceled to reduce the company's share capital.Meanwhile, electrical goods retailer AO World (AO.L) expects its adjusted profit before tax for the 12 months ended March 31 to be at the top end of its guidance range of 45 million pounds to 50 million pounds, while total group revenue is anticipated to rise 11%. The stock gained 6.98% at the end of the trading session.

FTSE 100$AO.L$KGF.L

Research111d ago

Cenovus Energy Maintained at Buy at TPH Ahead of Q1 Results' Price Target at C$42.00

Tudor, Pickering, Holt on Friday maintained its buy rating on the shares of Cenovus Energy (CVE.TO, CVE) with a C$42.00 price target ahead of the oil producer and refiner's first-quarter results."In our pre-earnings model update, we increased our Q1'26 CFPS estimate to TPHe C$1.40, up from our prior C$0.97, which sits well above Street C$1.09 though we'd anticipate positive estimate revisions in the coming weeks. MTM (mark to market) impacts were the primary driver of our refresh, with our operational assumptions only modestly nudged lower across CVE's segments," analyst Jeoffrey Lambujon 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://finwires.com/en/contact)Price: $35.82, Change: $+0.34, Percent Change: +0.96%

$CVE$CVE.TO

Asia Markets111d ago

Swiss Stocks End Week in Green; Bossard Shares Jump

The blue-chip Swiss Market Index closed 0.18% in the green on Friday, as investors assess the latest economy-related developments amid cautious optimism over peace talks between the US and Iran set to take place this weekend.The KOF Swiss Economic Institute's global economic barometers diverged in April, with the coincident barometer declining 0.2 point to 102.1 points and the leading barometer rising 1.7 points to 102.9 points."Although the war against Iran and the closure of the Strait of Hormuz dominated the headlines in March, the movements in the two global indicators were relatively modest. Both indicators remain slightly above average," KOF director Jan-Egbert Sturm said. "For now, it seems that survey participants think this war will be temporary and largely regional, and therefore will not affect their economic situation too much."On the tariffs front, Switzerland is looking to finalize a trade agreement with the US by July-end, with the Swiss government reportedly expecting to continue talks with a third round of negotiations this April, Bloomberg News reported, citing unnamed sources.Meanwhile, government data showed that the Swiss consumer sentiment index fell to -42.9 points in March from -30.4 points in February. In the previous year, the index came in at -34.8 points. The State Secretariat for Economic Affairs said the separate indices for economic and financial outlooks and the moment to make major purchases deteriorated year over year, while the indicator for past financial situation barely changed.Over to corporates, Bossard (BOSN.SW) reported a year-over-year increase in first-quarter group net sales to 284.9 million francs from 283.3 million francs. The Swiss industrial fastening and assembly technology company said it remains committed to its medium-term financial targets despite the current market volatility and expectations of a subdued level of economic demand in the first half of 2026. The stock jumped 6.48% at closing.UBS Group (UBSG.SW) also saw its shares gain 0.96% after Switzerland's Federal Criminal Court dismissed a money-laundering case against it related to loans granted by Credit Suisse to Mozambique state-owned companies. The court ruled that there is no transfer of criminal liability to UBS, which acquired Credit Suisse in 2023.

^SSMI$BOSN.SW$UBSG.SW

Asia Markets111d ago

European Stocks Tracking Higher in Friday Trading Amid US-Iran Ceasefire Talks; German Inflation Rises in March

The European stock markets were moving modestly higher Friday amid reports that US and Iran ceasefire negotiators will meet in Islamabad, Pakistan, on Saturday.The Stoxx Europe was up 0.5%, Germany's DAX was rising 0.2%, the FTSE 100 was increasing 0.1%, France's CAC was gaining 0.3%, and the Swiss Market Index was moving 0.3% higher.Mining stocks were tracking higher as Antofagasta and Fresnillo were rising 3.4% and 2.1% respectively in London, while Heidelberg Materials gained 3.2% in Frankfurt. ArcelorMittal was up 2.8% in Paris, and Boliden rose 2.1% in Stockholm.The inflation rate in Germany, as measured by the annual change in the consumer price index, surged in March to 2.7% from 1.9% in February, according to the Federal Statistical Office (Destatis). It's the highest rate since January 2024 when the CPI was 2.9%."The significant increase in the prices of energy products is driving up inflation," Destatis President Ruth Brand said in a statement. "In particular, motor fuel and heating oil prices have risen sharply for consumers since the start of the Iran war."And in corporate news, Switzerland's criminal court said Friday it has discontinued a proceeding against UBS in connection with alleged money laundering in a case involving Mozambican state-owned companies.The case stemmed from alleged criminal behavior by Credit Suisse, which UBS took over following its 2023 collapse.The court cited "procedural obstacles" for abandoning the case, "because Credit Suisse lost [its status] as a criminal legal entity through the merger with UBS," according to a translation of the official statement."We welcome the court's recognition that UBS cannot be held liable in this matter, as such liability cannot be transferred to a legal successor through a merger," a UBS spokesperson toldin an emailed statement.Shares of the Swiss bank were moving 1% higher in Zurich.TotalEnergies said Friday the SATORP refinery in Saudi Arabia was impacted by the recent Middle East conflict, damaging a processing train.Although there were no casualties, the units were shut down as a safety precaution, the company said. SATORP is jointly owned by TotalEnergies and Saudi state oil giant Aramco.Shares of the French oil and gas company were off 1% in Paris.GSK has withdrawn its application for a drug supported by President Donald Trump as a potential treatment for autism symptoms, the Wall Street Journal reported Thursday, citing a regulatory filing.The British drugmaker asked the US Food and Drug Administration to pull out its application for the drug leucovorin calcium as it does not market the medicine, months after submitting it at the request of health officials.Shares of the British pharmaceutical company were increasing 0.7% in London.HSBC and Anchorpoint Financial, a Standard Chartered joint venture, have been granted stablecoin issuer licenses by the Hong Kong Monetary Authority, the regulator said Friday.The licenses have been granted under the stablecoins ordinance to issue stablecoins in Hong Kong, according to the regulator. The licensees plan to complete the required documentation and launch business in the coming few months, the Monetary Authority said.Shares of the British bank were up 0.5% in London.

Mining & Metals111d ago

RBC on Canadian Rails' Q1 Carload, Performance Metrics

Canadian railways' revenue ton miles (RTMs) were higher in the first quarter, with RTMs at Canadian National Railway (CNR.TO) up 3% and up 2% at Canadian Pacific Kansas City (CP.TO), notes RBC Capital in its review of the first quarter.Volumes at both rails benefited from higher grain volumes on the back of a record Canadian grain crop, write analysts Walter Spracklin and James McGarragle. According to StatsCan, Canadian crop production in 2026 is expected to be up 10% y/y due to higher yields, the analysts noted.Performance metrics also improved in the first quarter, mainly due to better winter conditions. Class 1 train velocity was up 4% and terminal dwell was down 6% in the quarter.RBC is calling for a modest recovery in the second half, in line with recent PMI readings, with tariffs and geopolitical conflicts posing key risks to the outlook. Spracklin and McGarragle also flag potential upside, in terms of over-the-road conversion prompted by higher truck rates, surging diesel prices, as well as a pick-up in industrial volumes, that are consistent with current macro indicators."We continue to see CPKC as best positioned reflecting synergy opportunities related to the KCS integration, especially in the company's intermodal franchise."Price: $152.67, Change: $+0.57, Percent Change: +0.37%

$CNR.TO$CP.TO

Japan111d ago

US Equity Indexes Mixed as Fragile Iran Truce Holds, Hot Inflation Print In Line With Outlook

US equity indexes were mixed in midday trading Friday as a fragile Iran ceasefire deal looked set to hold until peace talks kick off in Pakistan, while a red-hot inflation read was in line with market expectations.The Nasdaq Composite rose 0.4% to 22,913.3, while the S&P 500 was slightly down at 6,823.6 and the Dow Jones Industrial Average slipped 0.4% to 47,979.1.Vice President JD Vance, setting off for US-Iran talks in Pakistan's capital Islamabad, said Washington is "willing to extend the open hand" in this weekend's negotiations but warned Tehran not to "try to play us," The Wall Street Journal said.A key aim of the talks is to fully reopen the Strait of Hormuz, where President Donald Trump said Thursday that Iran is "doing a very poor job" of letting oil flow through and cautioned the country against collecting tolls from ships traveling through the strategic waterway, the report said.West Texas Intermediate crude oil futures advanced 0.9% to $98.82. Brent crude futures were little changed at $95.67.In economic news, the US consumer price index accelerated to its highest monthly reading in nearly four years, rising 0.9% in March but in line with expectations, as the Middle East conflict sent energy prices sharply higher. Energy prices jumped about 11% sequentially in March, led by a 21% surge in gasoline, accounting for nearly three-quarters of the headline increase, the Bureau of Labor Statistics data showed.

Dow JonesNasdaq CompositeS&P 500

Commodities111d ago

Mol Group Says Hungary Oil Supply Stable, Buys $500 Million US Crude

Hungarian energy major Mol Group said Thursday that crude oil supplies to the country remain uninterrupted amid the ongoing global energy crisis as it procured its stocks from multiple sources."Crude oil supplies to Hungary and the region are currently uninterrupted: we follow a diversified supply strategy and source crude oil from multiple sources," the company said in a statement shared with.Mol Group said it has supply agreements in place with Libya, Kazakhstan, Norway, and Saudi Arabia, and has also reached agreements with US companies regarding shipments.The White House said on Thursday that Hungary's Mol Group purchased about 510,000 tons of US crude oil valued at $500 million as part of efforts to deepen bilateral energy ties.The development was highlighted during US Vice President JD Vance's visit to Budapest, which focused on strengthening cooperation in energy, technology, and security between the two countries.The White House also noted nuclear cooperation agreements, including plans for small modular reactors and upgrades to existing plants, with a combined potential value of about $20 billion.The Mol Group highlighted capacity constraints via the Adria pipeline, with the system unable to meet the requirements to supply the Danube Refiner fully.The refinery is currently operating at reduced levels following last year's AV3 fire, which cut processing capacity by nearly half and limited the volume of crude it can handle, the company added.The company noted that transporting alternative crude grades, unlike REBCO, which offers consistent quality, has introduced operational risks, as heavier Norwegian crude moves more slowly due to its different density and chemical properties.The company plans to resume extended joint testing with Janaf across seasons and conditions, as requested by the European Commission, to assess pipeline capabilities better once the refinery returns to full capacity.

Equities111d ago

Market Chatter: EQT, KKR Show Interest in PolyPeptide Takeover

EQT AB and KKR (KKR) are among private equity firms showing takeover interest in PolyPeptide Group, Bloomberg reported Friday, citing people with knowledge of the matter.Advent has also been reviewing a possible acquisition of the Swiss contract drugmaker, the report said.EQT and KKR didn't immediately reply to requests for comment from.(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.)Price: $90.26, Change: $-2.58, Percent Change: -2.77%

$KKR

Sectors111d ago

Market Chatter: Trump Preparing Military Should Iran Fail to Comply

President Donald Trump said Friday in a phone interview with the New York Post that US warships are being restocked with ammunition in order to resume strikes should peace talks with Iran falter this weekend.(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 & Metals111d ago

BMO Maintains Keyera at Outperform, Raises its Price Target to C$55.00 from C$54.00

BMO Capital Markets on Friday maintained its outperform rating on the shares of Keyera (KEY.TO) and raised its price target to C$55.00 from $54.00.BMO also designated Keyera as a top pick.While BMO continues to expect a successful close of Keyera's $5.15 billion acquisition of Plains All American Pipeline's Canadian natural gas liquids business, recent regulatory delays suggest remedies are required.BMO said this issue could modestly temper its anticipated accretion on the deal, although the strategic rationale remains positive, and synergy expectations could prove conservative."The good news is commodity tailwinds have emerged," BMO said.Price: $52.19, Change: $+0.46, Percent Change: +0.89%

$KEY.TO

Equities111d ago

Shell Confirms Talks for Potential Production at Venezuela's Loran Field

Shell (SHEL.L, SHELL.AS) confirmed that it is in discussions with Venezuela for the potential development of the Loran gas field, according to a company statement sent toon Friday.The British oil and gas giant said Loran's proximity to its Manatee field in Trinidad and Tobago, where it expects to produce gas by 2027, makes the Venezuelan asset an attractive investment opportunity. Shell, however, noted that it has not taken any final investment decision on Loran.Reuters on Thursday cited the chairman of Trinidad's National Gas Co., Gerald Ramdeen, as saying that Shell is planning to initiate natural gas production at the joint Loran-Manatee offshore field in 2027, and has increased the pipeline capacity for gas transport to Trinidad to 1 billion cubic feet per day from the previously planned 700 million cubic feet.

$SHEL.L$SHELL.AS

Treasury111d ago

Skeena Resources Closes an Offering of US$750 Million of Senior Secured Notes

Skeena Resources (SKE.TO) on Friday said it closed an offering of US$750 million of 8.5% Senior Secured Notes.The company said that the notes will mature in 2031 and are non-callable for the first two years.The company, which is building the Eskay Creek mine in northern British Columbia's Golden Triangle, said proceeds of the offering will be used for a "comprehensive refinancing strategy," designed to optimize the company's capital structure by reducing its cost of capital and enhance its financial flexibility."Skeena has a track record of breaking new ground in the mining industry, and this transaction represents another important milestone," said executive chair Walter Coles. "We are proud to be the first pre-revenue mining company in more than a decade to successfully complete a public high-yield notes offering. The strong support for this debt issuance from leading global investment firms, including KKR and Bank of America, underscores growing confidence in our strategy, our management team, and the robustness of the Eskay Creek project as we progress toward initial production in Q2 2027."Skeena will use the proceeds to cancel and replace of its undrawn senior secured loan of US$350 million and cost overrun facility under a gold-streaming agreement of US$100 million and the repurchase of approximately two-thirds of the US$200-million gold stream for US$187 million.It will also prefund interest on the notes for 18 months with US$94 million deposited to an interest reserve account, equal to the first three semi-annual interest payments on the notes, and use the remaining capital of approximately US$470 million to support the remaining construction at Eskay Creek through a disbursement account, for general corporate purposes, and for expenses associated with the issuance of the notes.The company's shares were last seen up C$0.44 to C$45.43 on the Toronto Stock Exchange.Price: $45.43, Change: $+0.44, Percent Change: +0.98%

$SKE.TO

Sectors111d ago

Trump Preparing Military Should Iran Fail to Comply, New York Post Reports

US Markets111d ago

Consumer Finance Firms Likely Faced Seasonal Loan Headwinds in First Quarter, RBC Says

US consumer finance companies likely faced seasonal headwinds on loans in the first quarter, but growth is expected to pick up through the rest of the year, RBC Capital Markets said in a note on Friday.Data through February indicate an expected seasonal decline in loan balances, with slight improvement in year-over-year growth, Jon Arfstrom, associate director of US research at RBC, wrote."Although we see very limited direct impacts from recent macro volatility, we remain mindful of the risks of sustained higher energy prices on consumers," Arfstrom wrote. "Solid delinquency trends are driving stable to lower loss expectations, with support from a resilient consumer and tighter underwriting in prior periods."Arfstrom sees loan balance growth accelerating from here on out.US consumer inflation reached its highest monthly reading in nearly four years in March as the Middle East conflict sent energy prices sharply higher. Earlier in the week, the US and Iran agreed to a two-week ceasefire, pausing a war that had spread across the Middle East and curtailed shipments through the crucial Strait of Hormuz."We will look for confirmation that despite recent macro concerns, the medium-term revenue expectations are consistent," according to the RBC note.The brokerage lowered its price targets on American Express (AXP), Capital One Financial (COF) and SLM (SLM), to $415, $235 and $28, respectively. The price target on Bread Financial Holdings (BFH) moved to $90 from $83.RBC continues to recommend American Express for its premium consumer base and strong revenue growth expectations, while also favoring Ally Financial (ALLY). The brokerage highlighted stable to improving credit trends at Synchrony Financial (SYF) and Bread Financial."Our coverage universe has been impacted by market volatility, with a more challenging start to 2026," Arfstrom said. "That being said, we see our universe as well positioned to deliver improving growth and healthy credit. Assuming some stability in the broader macro sentiment, we expect solid earnings growth and decent stock price performance in 2026."Price: $79.11, Change: $-0.64, Percent Change: -0.81%

$ALLY$AXP$BFH$COF$SLM$SYF

Insider Trading111d ago

Vicor Insider Sold Shares Worth $4,670,064, According to a Recent SEC Filing

Patrizio Vinciarelli, 10% Owner, Director, Chairman, and CEO, on April 09, 2026, sold 24,943 shares in Vicor (VICR) for $4,670,064. Following the Form 4 filing with the SEC, Vinciarelli has control over a total of 9,131,166 common shares of the company, with 8,960,041 shares held directly and 171,125 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/751978/000090148426000004/xslF345X05/primary_doc.xmlPrice: $186.05, Change: $+1.09, Percent Change: +0.59%

$VICR

Commodities111d ago

CB&I Completes Petrofac Asset Solutions Acquisition, Expands Services Portfolio

CB&I said on Friday it had completed the acquisition of Petrofac's Asset Solutions business, expanding its capabilities in operations, maintenance, and decommissioning services across global energy markets.The deal, first announced in Dec, covers a business providing services for both onshore and offshore energy assets.Mark Butts, CEO of CB&I, said the acquisition is expected to strengthen the company's portfolio by adding a complementary reimbursable contracting business, helping generate more predictable cash flow while broadening its service offering."This acquisition supports our diversification into integrated services, expands customer relationships, and opens pathways for growth in international markets," Butts said in a statement.CB&I said the deal gives the Asset Solutions unit access to its balance sheet and liquidity, which would support operational stability and future expansion across key markets.The sale was agreed on a debt-free, cash-free basis. Petrofac said net proceeds from the transaction would be distributed to secured creditors in line with an existing intercreditor agreement.

Commodities111d ago

eFuels SEA Launches Platform to Scale Electrofuel Production with Infinium Technology

Singapore-based electrofuels development platform eFuels SEA launched a platform to promote electrofuel production across Southeast Asia using technology from US firm Infinium, the company said in a statement on Friday.It said it aims to develop facilities that convert captured carbon dioxide and renewable electricity into sustainable aviation fuel and other low-carbon products compatible with existing infrastructure. The projects are to serve both regional demand and export markets.Infinium's process combines renewable power, water, and waste CO2 to produce drop-in liquid fuels. The company has operated a commercial-scale facility in Corpus Christi, Texas, since 2023 and is building a second plant in the state with a planned capacity of about 23,000 tonnes per year.eFuels SEA plans to roll out three to five projects across Southeast Asia, backed by a management team with experience in energy markets, project finance, and industrial development."By leveraging Infinium's demonstrated technology, we are confident of delivering economic value add, enhancing energy security, and achieving climate impact in the region," said eFuels SEA co-founder and CEO David Wang.Infinium CEO Robert Schuetzle said the partnership would expand access to sustainable fuels in a region "uniquely positioned" to scale production.The launch comes as countries including Singapore, Malaysia, Thailand, and Indonesia advance hydrogen and carbon management strategies, eFuels SEA said.

Equities111d ago

Update: ConocoPhillips Explores Return to Venezuela for Oil Drilling

(Updates with ConocoPhillips' statement throughout.)ConocoPhillips (COP) has sent a team to Venezuela to evaluate the prospects of oil drilling in the country, the company said in an emailed statement Friday to."We sent a small evaluation team to Venezuela during the week of April 6 to better understand the potential for in-country oil and gas opportunities. We will evaluate Venezuela against other international opportunities as part of our disciplined investment framework," the company said.ConocoPhillips said previously that its assets in Venezuela were expropriated by the country's government back in 2007.Price: $121.86, Change: $-1.62, Percent Change: -1.31%

$COP

Research111d ago

Research Alert: Cls Downgraded To Buy On Multiple Reversal: Tp Cad504

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We downgraded Celestica from Strong Buy to Buy on valuation as shares and valuation multiples have risen ~25% in a month. We raise our target price to CAD504 from CAD444 on an earnings multiple of 30.0x (+2.0x) and EBITDA multiple of 24.0x (+4.0x) as the AI infrastructure space has rebounded and digested the turmoil in the Middle East. We continue to believe CLS is best-in-class, and we remain confident in its positioning with hyperscalers and do not foresee an AI infrastructure slowdown. Q4 and FY earnings revealed a strong double beat, with FY 26 guidance raised and plans to increase manufacturing on $1B capex spend (~5x increase Y/Y) and an additional hyperscaler win. We view the results as bullish and continue to like the company's execution amid the AI megatrend.

$CLS

Commodities111d ago

Envision Energy Gets $500 Million BBVA Financing to Back Global Expansion

Envision Energy said on Friday it had secured $500 million in financing from Banco Bilbao Vizcaya Argentaria to expand renewable energy projects across Europe, Asia, and Latin America.The deal is designed to provide flexible financing solutions to Envision's customers, including diversified funding instruments, improved working capital management, and extended payment terms.The program will enable financing to be arranged earlier in project development and includes advisory services throughout the lifecycle of renewable energy projects, helping to ease capital constraints and accelerate deployment.Earlier this year, Envision secured a $600 million-equivalent sustainability-linked syndicated loan in Hong Kong, with BBVA as one of the mandated lead arrangers."The global energy transition requires not only technological innovation, but also forward-looking financial solutions that can accelerate deployment at scale," said Henry Peng, senior vice president at Envision Energy and president for Europe and Latin America.

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