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Tecsys Initiated with Buy Rating, C$39 Price Target at TD

TD Securities initiated coverage of Tecsys (TCS.TO) with a Buy rating and C$39 price target on Wednesday.Tecsys "enjoys a strong reputation and word of mouth within the healthcare supply chain market, and we expect this to benefit its healthy growth profile driven by market share gains and ARPU growth," analyst John Shao said in a note. "We see TCS as a high-quality but still under the radar supply chain software name with a multi-year growth runway ahead."(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)

$TCS.TO

Asia29d ago

Market Chatter: India's Central Bank Reiterates Call for Crypto Curbs as Tax Department Flags Oversight Challenges

India's central bank has renewed its call for a cryptocurrency policy that leans toward prohibition, amid warnings from the country's tax department that trading through offshore exchanges is difficult to monitor, Reuters reported on Wednesday, citing government documents.The documents indicate that key government agencies favor tighter restrictions on virtual digital assets even as India has yet to adopt a formal policy to ban or regulate cryptocurrencies.The Reserve Bank of India proposed to stop banks and financial institutions from having any involvement with crypto assets and private stablecoins to limit financial stability risks, according to the report.The tax department reportedly identified cases of misreporting of cryptocurrency holdings under income tax disclosures. Less than a quarter of the 645,000 crypto traders reported their transactions in income tax returns for the financial year ended March 2023, the report noted.RBI did not immediately respond to' request for comment.(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.)

^BSENifty 50

Asia29d ago

Takeda Pharmaceutical Completes Share Issuance, Disposal Under Incentive Plan

Takeda Pharmaceutical (TYO:4502) said it has completed the issuance of new shares and disposal of treasury stock under its long-term incentive plan, according to a Wednesday filing.The company said the incentive plan for group employees outside Japan follows a partial forfeiture of rights granted to previously planned allottees.The company issued 16.9 million ordinary shares totaling 85.2 billion yen, comprising 10.8 million newly issued shares and 6.1 million treasury shares, down from the proposed 85.8 billion yen worth of shares.The allotments covered 10,477 employees of Takeda and its subsidiaries, compared with the originally planned 10,557 recipients.

TYO:4502

Research29d ago

TD Cowen Initiates DTE Energy at Hold With $166 Price Target

DTE Energy (DTE) has an average rating of overweight and mean price target of $160.89, 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://finwires.com/en/contact)

$DTE

Research29d ago

Deutsche Bank Upgrades Versigent to Buy From Hold, Lifts Price Target to $50 From $38

Versigent (VGNT) has an average rating of Buy and mean price target of $49.80, 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://finwires.com/en/contact)

$VGNT

Research29d ago

TD Cowen Initiates Alliant Energy at Hold With $83 Price Target

Alliant Energy (LNT) has an average rating of overweight and mean price target of $79.62, 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://finwires.com/en/contact)

$LNT

Mining & Metals29d ago

Canamera Signs Option Deal for 100% Interest in Ontario Rare Earths, Niobium Project

Canamera Energy Metals (EMET.CN) entered into an option agreement with Nemo Resources under which it may buy a 100% undivided interest in the Rare Earth Ridge rare earth element (REE) and niobium (Nb) project located in northwestern Ontario, it said on Wednesday.Canamera also has the right to buy one-half of the NSR royalty by making a one-time cash payment of C$2 million to the owner at any time."Given the scarcity of mineralized carbonatites globally, we believe this project offers compelling exploration potential and aligns well with our strategy of advancing high-quality critical minerals assets," said Canamera CEO Brad Brodeur.Shares of the company closed unchanged at C$0.335 on Tuesday on the Canadian Securities Exchange.

$EMET.CN

Asia Markets29d ago

Renewed Iran Conflict Weighs on Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed lower pre-bell Wednesday after days of Iranian attacks on commercial vessels in the contested Strait of Hormuz, followed by President Donald Trump's statement on Tuesday that the Persian Gulf ceasefire was "over."The vital sea passageway Strait of Hormuz is again apparently closed, as Iran and the US trade military attacks.In the futures, the S&P 500 fell 0.8%, the Nasdaq declined 1.2% and the Dow Jones was off 1.1%.West Texas Intermediate crude oil traded up 4.9% to $73.88 in morning hours.Investors also await the 2 pm ET release of minutes of the Federal Reserve's June 16-17 policy session, the first chaired by Kevin Warsh, for clues to central bank thinking.Asian exchanges traded unevenly lower overnight, while European bourses tracked sharply south midday on the continent.Levi Strauss (LEVI) plans to report earnings pre-bell, among others.On the economic calendar, in addition to the Federal Reserve minutes, is the weekly EIA petroleum status report at 10:30 am ET.In pre-market action, bitcoin traded at $62,048, and 10-year US Treasuries offered 4.58%. Spot gold commanded $4,055 an ounce.

Dow JonesNasdaq CompositeS&P 500

International29d ago

MBA US Mortgage Applications Decline in Week Ended July 3 on Uptick in Mortgage Rates

Mortgage applications fell by 2.2% in the week ended July 3, with refinancing activity and new home applications both pushed lower by an uptick in average 30-year fixed mortgage rates, according to Mortgage Bankers Association data released Wednesday.This follows little change in overall activity in the week ended June 26. The current week's data includes an adjustment for the July 4th holiday.Applications for refinancing loans fell by 4%, while new purchase applications slipped by a seasonally adjusted 1%.The average contract interest rate for 30-year fixed mortgages with loan balances of $832,750 or less rose slightly to 6.58% from 6.57% in the previous week."After adjusting for the Independence Day holiday, government purchase volume increased modestly, led by a 5% gain in VA purchase applications, while conventional purchase activity declined," said Mike Fratantoni, MBA's senior vice president and chief economist. "Refinance application volume was down 4%, as homeowners saw little enticement to act with rates still elevated."

Research29d ago

TD Cowen Initiates Sempra at Buy With $110 Price Target

Sempra (SRE) has an average rating of overweight and mean price target of $104.85, 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://finwires.com/en/contact)

$SRE

Wire29d ago

Spire Global Launches 10 Satellites on SpaceX Transporter-17 Rideshare

Spire Global (SPIR) successfully launched 10 satellites aboard SpaceX's Transporter-17 rideshare mission, the company said Wednesday.The launch included two satellites for GHGSat's greenhouse gas monitoring, seven for Spire Space Services customers, and one to replenish Spire's own constellation, the company added.Spire Global shares were down 1.5% in premarket activity.

$SPIR

Asia29d ago

CICC Forecasts Up to 90% Boost in Half-Year Profit

China International Capital (HKG:3908, SHA:601995) expects attributable profit of between 7.71 billion yuan and 8.23 billion yuan for the first half of 2026, up 78% to 90% from a year prior.The financial services provider attributed the forecast to a focus on the advancement of capital market reform, long-term strategic orientation, and a diversified portfolio; as well as growth in the international business among other factors, according to a Wednesday Hong Kong bourse filing.

HKG:3908SHA:601995

Equities29d ago

Top Premarket Gainers

iOThree (IOTR) shares were up 49% in Wednesday premarket trading after the company reported 40% revenue growth, a 68.4% increase in gross profit and strong momentum in its edge computing business for the year ended March 31, in a letter to shareholders.Battalion Oil (BATL) stock was 34% higher, adding to a 25% gain in the earlier session.WF (WFF) stock was 27% higher, rebounding from a nearly 32% decline in the previous session.Digital Currency X Technology (DCX) shares were up 24%, recovering from a 2.9% loss in the Tuesday session.

$BATL$DCX$IOTR$WFF

International29d ago

MBA US Mortgage Applications Fall 2.2% in Week Ended July 3 After Holding Steady in Prior Week

Mining & Metals29d ago

NVRO Metals, Hecla Unit to Advance Proposed Tailings Processing Project in Australia

NVRO Metals (NVRO.V) has signed an initial agreement with a subsidiary of silver producer Hecla Mining for a proposed industrial-scale tailings processing project in Australia's Northern Territory.Under the MOU, NVRO and Hecla Greens Creek Mining will work on a technical and commercial framework to process about 35,000 tonnes of Hecla tailings at the NVRO Metals Hub, the precious and critical metals company said Wednesday.The MOU is conditioned on the completion of a production demonstration campaign on 20 tonnes of Hecla feedstock at NVRO's facility in Perth, Western Australia, and the acquisition and commissioning of the NVRO Metals Hub by Dec. 30.

$NVRO.V

Oil & Energy29d ago

UAE's Adnoc, South Korea Partner on Crude Supply, Energy Security

UAE state-owned energy producer Abu Dhabi National Oil will partner with South Korea to bolster its energy security with cooperation on crude supply, emergency supplies and strategic oil storage, the company said in a statement on Wednesday.The company signed an agreement with Korea's Ministry of Trade, Industry and Resources, or MOTIR, it said.The agreement was signed Adnoc CEO and UAE Minister of Industry and Advanced Technology Sultan Al Jaber.It covers the supply of up to 24 million barrels of UAE crude to Korea, it said, without specifying over what period or under what conditions.ADNOC already cooperates on crude storage in Korea, including at the Yeosu facility and forthcoming discussions between MOTIR and ADNOC will cover the company's access to more storage facilities including some linked to Korean refineries.The agreement between the parties will seek to boost cooperation on alternative export routes that lessen disruption risks, the statement said.The recent months-long closure of the Strait of Hormuz left Asian countries more exposed to supply disruption than other regions, given their heavy reliance on Middle Eastern supplies.

Asia Markets29d ago

Tech, Oil Outlooks Roil Asian Stock Markets

Asian stock markets churned on Wednesday, as traders weighed fresh Persian Gulf hostilities and the renewed closing of the Strait of Hormuz, and ongoing gyrations in tech-sector valuations.Shanghai and Tokyo finished in the red, although Hong Kong rallied and bucked regional trends. Other Asian exchanges were uneven, while Seoul's KOSPI Index lost 5.4% on sagging semiconductor issues.In Japan, the Nikkei 225 opened lower, wobbled, but could not recover, finishing off 2.1% as traders weighed higher global crude prices. Rising yields on Japanese government bonds, due to concerns regarding heavy government spending plans, also damped sentiments.The benchmark Nikkei 225 fell 1,437.91 to 66,819.05, as losing issues outnumbered gainers 171 to 52.Leading the upside was utility Tokyo Electric Power, up 3.8%, while advanced materials-maker Taiyo Yuden declined 8.5%.In economic news, Japan's Economy Watcher's Survey index, a polling of frontline service workers such as cab drivers and restaurant staff, struck a seasonally adjusted 44.0 in June, up from 43.6 in May, but still logging below the 50-mark that separates optimism from pessimism.In Hong Kong, the Hang Seng Index opened higher and rose to the close, concluding up 3% after concerns abated that a flood of tech-oriented IPOs might saturate the market. In particular, shares in AI-venture Knowledge Atlas Technology gained 13.3%, even after a "lock-up" provision of original shareholders expired, a bellwether result that appeared to galvanize optimism among tech investors.The broad gauge Hang Seng rose 702.57 to 24,199.46, as gaining issues outnumbered losers 73 to 19. The Hang Seng TECH Index gained 5% on the day, while the Mainland Properties Index rose 2.1%.Leading the upside was e-commerce colossus Alibaba (BABA), gaining 9.9%, while pork purveyors WH Group declined 5.4%.On the mainland, the Shanghai Composite fell 0.5% to 3,970.88.On the other regional exchanges, the Taiwan TWSE inclined 0.6%; the Australian ASX 200 declined 0.2%; the Singapore Straits Times Index rose 0.5%, and the Thai Set declined 1.7%. In late trading in Mumbai, the Sensex was down 2.2%.The MSCI All Country Asia Pacific Index fell 0.9% on the day.

Hang SengNikkei 225Shanghai Composite

Asia29d ago

Market Chatter: Itochu, Daikin Industries to Launch JV to Recover Aluminum from Commercial ACs

Itochu (TYO:8001) partnered with Daikin Industries (TYO:6367) to launch a new joint venture by year-end to recover aluminum and other critical metals from used commercial air conditioners, Nikkei reported Wednesday.Itochu via Itochu Metals will procure used Daikin commercial air conditioners and dismantle them to recover aluminum and other metals, using specialized scrap processors.(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.)

TYO:6367TYO:8001

Asia29d ago

Mirae Asset Securities Holds 19.6% Treasury Shares After Repurchase

Mirae Asset Securities (KRX:006800) held 138.95 million treasury shares, representing 19.57% of its outstanding stock, following the conclusion of its latest share repurchase on Monday, according to a Wednesday filing with the Korea Exchange.The treasury stock is made up of 124.88 million common shares and 14.07 million preferred shares, with a total book value of 563.66 billion won, the filing said.The buyback was carried out from June 18 to July 6, it said.Shares of Mirae Asset Securities fell nearly 5% at market close.

KRX:006800

Research29d ago

Truist Initiates Wynn Resorts at Buy With $125 Price Target

Wynn Resorts (WYNN) has an average rating of buy and mean price target of $137.16, 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://finwires.com/en/contact)

$WYNN

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Asia Markets29d ago

Tech, Oil Outlooks Roil Asian Stock Markets

Hang SengNikkei 225Shanghai Composite