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Treasury Wine Estates Faces Mixed Conditions in China Market, Jefferies Says

Treasury Wine Estates (ASX:TWE) is facing mixed conditions in the Chinese market, with strong demand for luxury wine contrasting with inventory challenges for its Penfolds business in China, Jefferies said in a note on Wednesday.According to data from Australia's wine regulator, luxury wine export volume rose 36% in the June quarter, marking the strongest quarter since wine tariffs on Australian wine were removed in China in 2024.However, the wine producer has suspended new orders for its popular label Penfolds Bin 407 in the Asian country from July 1 until the end of Sept. This is expected to negatively impact China wine exports in the third quarter.The move likely suggests management is actively trying to reduce excess inventory in China while protecting the Penfolds brand from discounted grey-market sales, the firm said.Jefferies maintained its hold rating and a price target of AU$5 on Treasury Wine Estates.

ASX:TWE

International19d ago

South Korea's Business Confidence Improves in July

The Composite Business Survey Index (CBSI) for South Korean enterprises increased 0.8 points to 98.5 in July, but remained in pessimistic territory, according to data from the Bank of Korea on Thursday.A print above 100 indicates optimism, while a reading below suggests negative sentiment. The latest reading compared with 97.7 points recorded in the previous month.The index for businesses' outlook for the following month also rose 1.3 points to 96.5.Within the manufacturing sector, the CBSI edged up 2 points to 103.2, while the index for the non-manufacturing sector fell 0.2 points to 95.2.Meanwhile, the Economic Sentiment Index, which combines the CBSI and the Consumer Survey Index (CSI) released Tuesday, rose 1.1 points to 97.9.The CSI inched up 0.2 points to a positive reading of 106.8 in July.

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Asia19d ago

Domino's Reaffirms Fiscal 2026 Profit Guidance Despite AU$300 Million in Write-Downs

Domino's Pizza Enterprises (ASX:DMP) reaffirmed its fiscal 2026 underlying profit after tax guidance of AU$118 million to AU$122 million despite expecting a statutory loss after booking around AU$300 million in mostly non-cash balance sheet write-downs, according to an Australian bourse filing on Wednesday after market hours.The company recorded around AU$259 million in balance sheet write-downs, including impairments in France and Taiwan, IT asset write-offs, store-related charges associated with the planned closure of up to 60 underperforming stores, and other provisions.The company said it achieved AU$60 million to AU$70 million in annualized cost savings during fiscal 2026 through workforce reductions, lower information technology expenses, and supplier savings while also refinancing AU$1.05 billion of its debt facilities, per the filing.Same-store sales declined 4.1% across Australia and New Zealand, Europe, and Asia as the company prioritized higher-margin sales, boosting franchisee profitability and supporting a broader fiscal 2027 rollout of its Western Australia model, the filing said.The company said the largely non-cash charges would not impact its cash generation, debt covenant compliance, or core operations, the filing added.

ASX:DMP

Asia19d ago

Market Chatter: Mirvac Group Nears AU$640 Million Stake Acquisitions in Two Prime Office Towers

Mirvac Group (ASX:MGR) is close to acquiring 50% stakes in two prime office towers, one each in Sydney and Melbourne, from Cbus Property for nearly AU$640 million in total, The Australian reported Thursday.The company plans to house the stakes in Sydney's 5 Martin Place and Melbourne's 171 Collins Street in its flagship office fund, according to the report.Mirvac Group declined' request for comment on the report.(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.)

ASX:MGR

Asia19d ago

Freightways Group Appoints David Gibson as Chair

Freightways Group (NZE:FRW, ASX:FRW) appointed board member David Gibson as chair to succeed Mark Cairns, effective Thursday, according to a same-day filing with the Australian and New Zealand bourses.Cairns is stepping down after four years in the role, per the filing.The company's New Zealand shares were up 1% in recent Thursday trade.

ASX:FRWNZE:FRW

Asia19d ago

Develop Global Says Broker Downgrade Likely Behind Share Price Fall

Develop Global (ASX:DVP) said a broker research report released after the market closed on Tuesday that lowered its 12-month price target was the only explanation it was aware of for a sharp decline in its share price and elevated trading volumes, according to its response to an Australian Securities Exchange (ASX) price query filed with the Australian bourse late Wednesday.The ASX sought the company's response after its shares fell to an intraday low of AU$4.41 on Wednesday from a Tuesday closing price of AU$5.58, amid a surge in trading volume, per the filing.The company confirmed that it is complying with the ASX continuous disclosure requirements, the filing added.

ASX:DVP

Insider Trading19d ago

Bridgewater Bancshares Insider Sold Shares Worth $567,764, According to a Recent SEC Filing

Jerry J. Baack, Director, CEO, on July 27, 2026, sold 27,234 shares in Bridgewater Bancshares (BWB) for $567,764. Following the Form 4 filing with the SEC, Baack has control over a total of 1,161,769 common shares of the company, with 1,158,769 shares held directly and 3,000 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1341317/000173312626000007/xslF345X05/form4-07292026_090700.xml

$BWB

Oil & Energy19d ago

US Oil Update: Crude Settles Higher as Trump's Iran Rhetoric, Mideast Conflict Rattle Markets

Crude futures settled higher in after-hours trading on Wednesday as escalating Middle East hostilities and hardline rhetoric from President Trump stoked fears of global supply disruptions.Front-month West Texas Intermediate crude futures rallied 6.7% to $84.60 per barrel, while Brent futures advanced 7.6% to $90.51/bbl.US crude oil inventories dropped by 7.2 million barrels to 404.5 million barrels last week, the Energy Information Administration said on Wednesday. Crude inventories were about 7% below the five-year average for this time of year, the EIA said.Macquarie strategists had expected a 2.5-mmbbl draw for the week ended July 24.Trump reportedly said that Iran "is going to get a beating" after the Islamic Revolutionary Guard Corps launched ballistic missiles at US military.His remarks follow reports that the IRGC targeted a US airbase and command center in Jordan with ballistic missiles, as Middle East hostilities escalate after a recent pause in hostilities.Iranian media also report an attack has occurred in an area near the Piranshahr border in northwestern Iran.On Tuesday, US and Saudi forces struck "multiple terrorist logistics and weapons sites" in eastern Iraq, in retaliation for over 30 drone attacks in the past three days by "Iran-aligned terrorists."Earlier on Tuesday, Saudi Arabia's Defense Ministry said that drones launched from Iraq by "Iran-affiliated terrorist militias" attempted to target petroleum facilities in the Gulf state.The US Treasury sanctioned two Iranian companies that charge for safe passage through the Strait of Hormuz and eight tankers linked to Iranian oil exports on Wednesday, alleging that the IRGC-backed network was operating an extortion scheme.Treasury's Office of Foreign Assets Control said the sanctions target the Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority, which allegedly force vessels to buy mandatory maritime "insurance" to transit Hormuz.Soojin Kim, research analyst at MUFG, said the renewed escalation has restored a geopolitical risk premium to oil prices, with ongoing disruptions around Hormuz likely to keep markets volatile despite continuing diplomatic efforts.Meanwhile, the US Federal Reserve on Wednesday held its key interest rate steady in a range between 3.5% and 3.75%.Gelber & Associates strategists said traders were closely watching the US Federal Reserve interest rate decision, with improving risk sentiment across broader financial markets providing an additional tailwind for energy prices.Meanwhile, traffic through the Middle East energy chokepoints remains restricted, with Kpler data showing 12 and 41 confirmed crossings in the Hormuz and Bab el-Mandeb on July 28, respectively.The US Central Command said it has redirected 18 commercial vessels, disabled two, and boarded two as of July 28.Meanwhile, in its latest decision on Wednesday, the Fed kept interest rates unchanged at 3.50%-3.75%. While the decision was widely expected, the central bank's assessment of solid economic growth offered modest support to the oil demand outlook, although geopolitical tensions remained the dominant driver of crude prices.

Equities20d ago

Marathon Petroleum Keeps Quarterly Dividend at $1.00 a Share, Payable Sept. 10 to Shareholders of Record on Aug. 19

$MPC

Asia20d ago

Benz Mining Fiscal 2026 Loss Widens

Benz Mining (ASX:BNZ) logged CA$0.14 in loss per share for the fiscal 2026, compared with a loss of CA$0.04 a year ago, a late Wednesday filing showed.The company reported no revenue for the period as it remains an exploration-stage company with no commercial mining operations or production history.

ASX:BNZ

Equities20d ago

NewMarket Q2 Earnings, Net Sales Rise

NewMarket (NEU) reported Q2 earnings late Wednesday of $14.54 per diluted share, up from $11.84 a year earlier.Net sales in the quarter ended June 30 rose to $747.1 million from $698.5 million a year earlier.

$NEU

Equities20d ago

Antero Resources Q2 Earnings, Revenue Rise

Antero Resources (AR) reported Q2 earnings late Wednesday of $0.90 per diluted share, up from $0.50 a year earlier.Analysts surveyed by FactSet expected $0.76.Revenue for the three months ended June 30 was $1.56 billion, up from $1.3 billion a year earlier.Analysts polled by FactSet expected $1.53 billion.

$AR

Insider Trading20d ago

TransUnion Insider Sold Shares Worth $1,997,075, According to a Recent SEC Filing

Mohamed Abdelsadek, Executive Vice President, Chief Global Solutions Officer, on July 28, 2026, sold 23,495 shares in TransUnion (TRU) for $1,997,075. Following the Form 4 filing with the SEC, Abdelsadek has control over a total of 57,182 common shares of the company, with 57,182 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1552033/000205864826000006/xslF345X05/wk-form4_1785361075.xml

$TRU

Oil & Energy20d ago

Explosion Disrupts Egypt's Damietta LNG Hub, Kpler Says

An explosion at Egypt's Damietta Liquefied Natural Gas terminal has disrupted operations at one of the country's key LNG import hubs after damaging the Energos Winter floating storage and regasification unit and the GasLog Salem LNG tanker, Kpler said in an X post on Wednesday.According to Kpler, both vessels were moved offshore as authorities monitor the situation.An LNG carrier scheduled to discharge at the terminal has also departed, Kpler said.GasLog Salem had been due to begin service as a floating storage unit on Aug. 1 under a short-term agreement with state-owned energy firm Egas to support Egypt's LNG import program."With no official details yet on the cause, injuries or repair schedule, market attention is turning to the potential impact on near-term gas supply and terminal operations," Kpler said.

Commodities20d ago

US Natural Gas Update: Futures Extend Gains Ahead of Storage Data

US natural gas futures extended earlier gains in after-hours trading Wednesday, rebounding from a three-month low on the final trading day for the August Nymex contract.The September 2026 contract and the continuous contract each rose by 1.15% to $2.732 per million British thermal units. The August contract expired at $2.725/MMBtu, up 2.4%.Natural gas prices had been under pressure over the past week after weather models shifted to show cooler conditions across the Midwest and East Coast in the near term, reducing expectations for power-sector demand from air conditioning, Barchart said.The Commodity Weather Group said Wednesday that forecasts call for normal to below-normal temperatures across the central and eastern US through Aug. 7.US lower-48 dry gas production remained strong at 112.1 Bcf/d on Wednesday, down 0.2 Bcf/d from the previous day but up 3.9% from a year earlier, according to estimates. Lower-48 state gas demand was 82.2 Bcf/d, down 1.8 Bcf/d from Tuesday and 7.2% below year-ago levels.Estimated net gas flows to US LNG export terminals were 18.1 Bcf/d on Wednesday for the third consecutive day, up 2.0% from the previous week. Feedgas flows remained below full capacity due to maintenance at Freeport LNG, which is expected to continue through the end of August.With supply and demand conditions largely stable, market focus is shifting to Thursday's US Energy Information Administration storage report. The report covering the week ended July 24 is expected to show a storage build of 34 Bcf to 38 Bcf, well above the five-year average increase of 26 Bcf.If the build reaches 38 Bcf, the surplus compared with the five-year average would widen to 195 Bcf from 183 Bcf in the previous week.

Asia Markets20d ago

Update: US Equity Indexes Slide as Divided Fed Reiterates Inflation Focus, Trump Vows to Hit Iran Hard in Retribution Move

(Updates with index/price moves and Federal Reserve/geopolitical news from the first paragraph.)US equity indexes sank as the Federal Reserve reiterated its unflinching focus on inflation after three dissenters accompanied the fifth consecutive policy hold and as President Donald Trump promised to hit Iran hard following Tehran's attack on regional neighbors.The Dow Jones Industrial Average plunged 2.2% to 51,594.14, with the Nasdaq Composite down 1.7% to 24,442.94 and the S&P 500 lower by 1.5% to 7,316.15 on Wednesday.All sectors declined, except energy, consumer staples, and communication services. Industrials, technology, and financials led the steepest decliners.The CBOE's volatility index VIX, also known as the fear gauge, surged 14% to 20.66.The Fed held its policy rate steady in a divided decision, as three officials called for policy tightening. The Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%. The committee reiterated its pledge to "deliver price stability" as inflation remained above the 2% target amid supply shocks."Let me reiterate. There is no soft inflation target. There is no soft implicit target. Not on this committee's watch. There's only a target and it's 2%," Fed Chair Kevin Warsh said.Following the FOMC statement, the Fed Funds futures market shifted "slightly," Raymond James said in a note. For the December meeting, the probability of an unchanged Fed Funds rate decreased to 8.4% on Wednesday from 11.0% on Tuesday; the probability of a 25-basis-point increase in rates climbed to almost 92% from over 89%, and the likelihood of two 25-basis-point moves was little changed at 53.0%.A drone hit a US-owned gas storage tanker at Egypt's Mediterranean port of Damietta, British maritime security firm Ambrey said in an initial assessment on Wednesday, Reuters reported.President Donald Trump vowed to retaliate against Iran for firing on US troops days after he halted air strikes, the news report said. "So it's our turn," Trump was cited as saying at the White House. He said Washington would see if there was an agreement with Iran at some point, "but we're going to hit them very hard."Yemen's Houthi group is considering imposing fees on commercial ships sailing through the southern Red Sea, a week after declaring a naval blockade on Saudi Arabia, regional sources with knowledge of the matter told Reuters. The Red Sea chokepoint is a critical export route for Saudi crude as maritime traffic remains disrupted at the Strait of Hormuz, a waterway through which about a fifth of global oil and gas flows.The front-month US West Texas Intermediate jumped 6.8% to $84.66 a barrel and global benchmark North Sea Brent surged 7.8% to $90.66 a barrel after the US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.US Treasury yields were mixed, with the 10-year surging 7.7 basis points to 4.68% while the two-year was little changed at 4.27%.In precious metal markets, gold futures climbed 0.7% to $4,066.1, and silver futures rose 0.6% to $57.84.

Dow JonesNasdaq CompositeS&P 500

Mining & Metals20d ago

Kinross Gold Posts Higher Adjusted Earnings, Revenue for Q2; Alice Wong Added to Board

Kinross Gold (K.TO) after trade Wednesday reported second-quarter adjusted earnings of $0.71 per share, up from $0.44 per share a year ago.Analysts polled by FactSet expected $0.66.Revenue for the quarter ended June 30 was $2.24 billion, up from $1.73 billion a year ago. The company said the 29% year-over-year jump was due to the increase in the average realized gold price.Analysts expected revenue of $2.26 billion.Kinross said it remains on track to meet its 2026 guidance. On an attributable basis, the company expects to produce 2.0 million gold-equivalent ounces, plus or minus 5%, in 2026.The company also said it appointed Alice Wong to its board of directors.

$K.TO

Commodities20d ago

Antero Midstream Reports Record Q2 Gathering Volumes

Antero Midstream (AM) reported Q2 earnings Wednesday, showing record gathering volumes of 375,249 million cubic feet, up from 314,826 MMcf a year earlier.Average gathering volumes increased to 4,124 MMcf/d for the quarter ended June 30, up from 3,460 MMcf/d.Compression volumes totaled 367,280 MMcf during the quarter, up from 313,706 MMcf a year earlier. Average compression volumes rose to 4,036 MMcf/d from 3,447 MMcf/d in the year-ago quarter.Centralized compression volumes declined to 299,283 MMcf, or 3,289 MMcf/d, from 313,706 MMcf, or 3,447 MMcf/d, according to the company.High-pressure gathering volumes declined to 271,748 MMcf, or 2,986 MMcf/d, from 293,146 MMcf, or 3,221 MMcf/d, for the same quarter last year, Antero Midstream said.Fresh water delivery volumes totaled 7.479 million barrels during the quarter, down from 8.941 million barrels a year earlier. Average fresh water delivery volumes declined to 82 MBbl/d from 98 MBbl/d.Other water handling volumes increased to 12.38 million barrels, or 136 MBbl/d, during the quarter from 5.33 million barrels, or 59 MBbl/d, a year earlier, the company added.Antero Midstream connected 26 wells to its gathering system during the quarter. The company also serviced 21 wells through its fresh water delivery system, up from 11 wells a year earlier.Joint venture processing volumes totaled 151,217 MMcf, or 1,662 MMcf/d, compared with 153,560 MMcf, or 1,687 MMcf/d, a year earlier. Fractionation volumes held steady at 3,640 million barrels for the quarter.Antero Midstream began construction of the East Side Express during the quarter, its first dry gas regional connectivity project. The pipeline will expand deliveries to regional and long-haul pipelines while improving access to growing local demand, the company said.

$AM

Asia20d ago

US Masters Residential Property Fully Repays Global Atlantic Loan Facility

US Masters Residential Property Group (ASX:URF) said it fully repaid its Global Atlantic loan facility on July 24, with written confirmation of the repayment received on Monday, according to an Australian bourse filing on Wednesday after market hours.

ASX:URF

Mining & Metals20d ago

Agnico Eagle Reports Higher Q2 Earnings, Maintains 2026 Production Outlook

Agnico Eagle Mines (AEM.TO, AEM) after the close on Wednesday reported second-quarter adjusted earnings per share of $3.07, or adjusted earnings of $1.54 billion, compared to $1.94 per share, or $976 million, in the prior year period. FactSet analysts estimated net income of $2.90 per share.Revenue in the period, ended on June 30, stood at $3.80 billion compared to $2.82 billion, matching the FactSet estimate of $3.80 billion.The company also declared a quarterly cash dividend of $0.45 per common share, payable on Sept. 15 to shareholders of record as of Sept. 1.In its guidance, Agnico said expected payable gold production for the full year 2026 remains near the lower end of the guided range of 3.3 million to 3.5 million ounce. Full year total cash costs per ounce and AISC (all-in sustaining costs) per ounce guidance for 2026 remains unchanged at $1,020 to $1,120 and $1,400 to $1,550, respectively.Total capital expenditures for 2026 are now expected to be between $2.6 billion and $2.8 billion, compared with previous guidance of $2.2 billion to $2.4 billion, the company said.Bausch Health shares were last up $1.18 at $145.61 in US after-hours trading. The stock closed up C$0.22 at C$203.13 on the Toronto Stock Exchange.

$AEM$AEM.TO

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Asia Markets20d ago

Update: US Equity Indexes Slide as Divided Fed Reiterates Inflation Focus, Trump Vows to Hit Iran Hard in Retribution Move

Dow JonesNasdaq CompositeS&P 500