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EDF Sees No Hit to Provisions as France Sets New Cigeo Waste Costs

France's Electricite de France said on Friday that the updated industrial reference cost for Cigeo, the country's multi-billion-euro deep geological repository for radioactive waste, will have a limited impact on its balance sheet.The state-backed utility said its current provisions, as of the end of 2025, remain aligned with the government's latest estimates.The decree, dated March 30, formalizes the latest cost trajectory for one of Europe's most ambitious infrastructure projects.The project, developed by the National Agency for Radioactive Waste Management, is designed to store high-level and long-lived intermediate-level radioactive waste hundreds of meters underground.Nuclear operators, including EDF, the Alternative Energies and Atomic Energy Commission, and Orano, are responsible for financing the site under French law. The companies are required to set aside massive financial provisions to cover the project's lifecycle, which is expected to span more than a century.The project's cost estimates are subject to periodic revisions by the energy ministry, tied to technical milestones such as commissioning and the conclusion of the "industrial pilot phase."

Sectors14d ago

Sector Update: Health Care

Health care stocks declined late Friday afternoon, with the NYSE Health Care Index falling 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) dropping 1.4%.The iShares Biotechnology ETF (IBB) shed 1.7%.In corporate news, AbbVie (ABBV) is expected to report Q1 earnings within its guidance range, but that may not be enough to improve sentiment toward the drugmaker, RBC Capital Markets said in a client note. The brokerage expects AbbVie to report per-share earnings of $2.59 for the first quarter, while the current consensus on FactSet is for non-GAAP EPS of $2.83. AbbVie shares were down 2%.

$ABBV

Mining & Metals14d ago

Versamet Royalties Completes Eskay Creek Buy

Versamet Royalties (VMET.TO) said Friday that it has completed the acquisition of a 3.52% gold stream in respect of gold production from the Eskay Creek project from Orion Resource Partners and Blackstone affiliates.A statement noted the company paid US$340 million in cash and issued about 2.05 million shares to the vendors. The cash portion was financed through an expanded credit facility totaling US$400 million, including a US$250 million revolving credit line maturing in March 2029 and a US$150 million term loan maturing in March 2028, according to the statement."Eskay is expected to produce an average of over 300,000 ounces of gold per year in its first 5 years and an average of approximately 230,000 ounces of gold per year over its initial 12 year life," the company said, adding that it will pay 10% of the spot gold price for each ounce it receives under the stream.Price: $16.71, Change: $-0.45, Percent Change: -2.62%

$SKE.TO$VMET.TO

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Oil & Energy14d ago

Iran Sets 2 Conditions Ahead of Negotiations

Iranian parliament speaker Mohammad Baqer Ghalibaf said Friday that two preconditions agreed with Washington must be implemented before negotiations can begin, ahead of weekend peace talks in Islamabad.In a social media post on X, Ghalibaf said, "Two of the measures mutually agreed upon between the parties have yet to be implemented: a ceasefire in Lebanon and the release of Iran's blocked assets prior to the commencement of negotiations. These two matters must be fulfilled before negotiations begin."The post came as the US and Iran prepare for Saturday talks aimed at addressing the Middle East conflict. Ghalibaf referred to ongoing Israeli attacks in Lebanon and the tens of billions of dollars Iran has frozen in foreign banks due to US sanctions.Hours after a ceasefire framework was agreed late Tuesday by the US and Iran, Israel launched what officials called its largest strike in the parallel war in Lebanon, killing over 300 people in densely populated areas, according to Lebanese authorities.Israeli airstrikes continued Friday across southern Lebanon, with more than a dozen additional fatalities reported in multiple towns. A strike on a government building in Nabatieh killed 13 members of Lebanon's state security forces, local media reported. Hezbollah said it responded with rocket fire into northern Israel.On Friday, US President Donald Trump posted on Truth Social that Iran's leverage was limited to short-term pressure tactics, arguing its position was weak in negotiations."The Iranians don't seem to realize they have no cards, other than a short-term extortion of the World by using international waterways. The only reason they are alive today is to negotiate!" Trump wrote in a Truth Social post.During planned talks in Islamabad, Tehran is expected to push for major concessions, including sanctions relief and expanded recognition of its authority over the Strait of Hormuz, a critical global shipping lane it seeks to regulate and monetize.Iranian vessels continued moving through the strait Friday without reported disruption, while foreign commercial shipping remained largely constrained, according to maritime sources. Before the conflict, roughly 140 vessels a day transited the waterway, including oil tankers carrying up to 20 million barrels.The US is expected to focus its demands on Iran's nuclear program, which Western officials say includes stockpiles of more than 400 kilograms of highly enriched uranium, along with continued missile and drone capabilities.Crude benchmarks moved lower in midday trade as market participants closely monitor upcoming US-Iran negotiations, with Brent down 1.43% to $94.55 per barrel, WTI falling 1.74% to $96.17/bbl, and Murban slipping 1.56% to $98.07/bbl.

Financial News · Live Terminal

EDF Sees No Hit to Provisions as France Sets New Cigeo Waste Costs

Sector Update: Health Care

Versamet Royalties Completes Eskay Creek Buy

EDF Sees No Hit to Provisions as France Sets New Cigeo Waste Costs

Sector Update: Health Care

Versamet Royalties Completes Eskay Creek Buy

Sector Update: Tech

Sector Update: Consumer

US Equity Indexes Mixed as Investors Await Iran Peace Talks, Red Hot Inflation Lifts Treasury Yields

Iran Sets 2 Conditions Ahead of Negotiations

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