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Market Chatter: China to Raise Refined Fuel Export Quotas in July, Anticipating Iranian Imports

China, one of the largest fuel exporters in Asia, is set to raise the amount of refined fuel that its state-owned refiners are allowed to export starting from July, according to a Reuters report, citing three industry sources who were briefed on the plan.The move is expected to ease regional supply constraints after Beijing restricted exports outside Hong Kong and Macau to just 400,000 and 500,000 metric tons in April and May, according to customs data, as the Iran war slashed crude shipments globally.The allowance was set at 800,000 metric tons for July, during a meeting between government officials and state refiners, as tensions begin to ease in the Middle East.Even with this increase, volumes are will be 40% below the average for July last year, with energy flows yet to fully recover from the conflict.China's state-owned oil refiners are reportedly considering resuming oil purchases from Iran, according to Reuters, citing several industry sources.This would mark the first purchase by the country's refiners since 2019, after the US waived sanctions against Iran's oil and petrochemical products earlier this week. Experts, however, have pointed out that alternative supply sources and waning domestic demand could cap this momentum.Neither China's National Development and Reform Commission, nor the China Petroleum and Chemical Industry Federation immediately responded to' request for a comment on this story.(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.)

Research38d ago

Roth Capital Initiates Castle Biosciences at Buy

Castle Biosciences (CSTL) has an average rating of buy and mean price target of $43.56, 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)

$CSTL

Research38d ago

Roth Capital Initiates Exagen at Buy With $8 Price Target

Exagen (XGN) has an average rating of buy and mean price target of $8.57, 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)

$XGN

Mining & Metals38d ago

Silverco Mining Begins Mobilization of Underground Mining Contractors at Cusi Property in Mexico

Silverco Mining (SICO.V) has mobilized underground contractors at its 100% owned Cusi Property in Chihuahua, Mexico, it said Thursday.Underground development will start at Cusi's two primary mining zones, Promontorio and San Miguel, said Silverco. First ore from Promontorio is expected in late third quarter of 2026, while first ore from San Miguel is expected to "ramp up" over the first half of 2027, it added."The two contractors now active at Cusi are well-established and experienced local firms with extensive underground mining experience," said CEO Mark Ayranto. "With this work and the mill rehabilitation work underway, we remain on schedule to produce first concentrate in Q4 2026 and exit 2026 with two producing silver mines in Mexico."

$SICO.V

Research38d ago

Benchmark Initiates Prosperity Bancshares at Hold

Prosperity Bancshares,(R) (PB) has an average rating of overweight and mean price target of $78.85, 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)

$PB

Research38d ago

Benchmark Initiates Southside Bancshares at Hold

Southside Bancshares (SBSI) has an average rating of hold and mean price target of $37, 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)

$SBSI

Research38d ago

Benchmark Initiates Hancock Whitney at Buy With $84 Price Target

Hancock Whitney (HWC) has an average rating of overweight and mean price target of $78.73, 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)

$HWC

International38d ago

Tech Revives Wall Street Pre-Bell; Asia Rallies, Europe Up

Wall Street futures pointed solidly higher pre-bell Thursday after memory-chip maker Micron Technology (MU) late Wednesday posted strong fiscal Q3 results and upbeat guidance, thus igniting a rally in peer issues.Micron Technology shares rose 18.6% pre-bell, while shares in the VanEck Semiconductor ETF (SMH) rose 4.5%.In the futures, the S&P 500 rose 0.7%, the Nasdaq inclined 2.2% and the Dow Jones was up 0.2%.West Texas Intermediate crude oil futures traded down 1% to $69.63 a barrel, dipping below $70 for the first time since late February. Gold declined to under $4,000 an ounce, for the first time since November of last year.Investors are awaiting the personal consumption expenditures-core (PCE-core) price index for May, the Federal Reserve's preferred inflation gauge, slated for release in Washington at 8:30 am ET.Asian exchanges rallied overnight, led by a 5.4% rise on Seoul's KOSPI index, and a 4.6% gain on Tokyo's Nikkei 225, with the broader indices pulled up by tech shares.European bourses tracked moderately north midday on the continent.On the economic calendar, in addition to the PCE-core release, is the weekly jobless claims report, along with the durable goods orders bulletin for May, both at 8:30 am ET.Also posting at 8:30 am is the final Q1 GDP report, the personal income and outlays release for May, the Chicago Fed National Activity Index for May,the revised Q1 corporate profits report, and the retail and wholesale inventories reports for May.The weekly EIA natural gas bulletin logs at 10:30 am, followed by the Kansas City Fed Manufacturing Index for June at 11 am.Federal Reserve New York president John Williams and Chicago presidentAustan Goolsbee are slated to speak on Thursday.In pre-market action, bitcoin traded at $61,476, and 10-year US Treasuries offered 4.41%. Spot gold commanded $3,989 an ounce.

Dow JonesNasdaq CompositeS&P 500$MU

Research38d ago

Benchmark Initiates South Plains Financial at Buy With $53 Price Target

$SPFI

Research38d ago

Benchmark Initiates Pinnacle Financial Partners at Buy With $132 Price Target

Pinnacle Financial Partners (PNFP) has an average rating of overweight and mean price target of $116.71, 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)

$PNFP

Research38d ago

Benchmark Initiates SmartFinancial at Buy With $54 Price Target

SmartFinancial (SMBK) has an average rating of overweight and mean price target of $47.46, 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)

$SMBK

Research38d ago

Benchmark Initiates Home BancShares at Hold

Home BancShares (HOMB) has an average rating of overweight and mean price target of $31, 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)

$HOMB

Research38d ago

Benchmark Initiates Equity Bancshares at Buy With $57 Price Target

Equity Bancshares (EQBK) has an average rating of overweight and mean price target of $52.86, 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)

$EQBK

Mining & Metals38d ago

Spartan Metals Reports Silver-Antimony-Copper Assays from Past-Producing Antelope Mine

Spartan Metals (W.V) released assay results from sampling at the past-producing Antelope Mine at the Eagle Project in Nevada.Surface rock sampling returned silver grades above 1,000 grams per tonne, including 1,927 g/t; antimony grades above 0.2%, including 0.67%; and copper grades above 1%, including 1.83%, the company said Thursday.The backpack core drill sample returned 688 g/t silver over 0.3 meters, with 0.67% copper, 1,336 parts per million arsenic and 0.3% antimony.The surface sampling results defined an area of about 1.3 kilometers by 0.6 km, larger than the existing mine extent."The presence of silver, antimony, and copper across such a broad area highlights the opportunity for a larger mineralized system than previously recognized at Antelope," said Chief Executive Brett Marsh in a statement.

$W.V

Asia38d ago

Aeon Credit Service's Profit Climbs in Fiscal Q1

Aeon Credit Service (Asia) (HKG:0900) recorded a 24% rise in profit for the three months ended May 31 to HK$136 million from HK$109.3 million a year prior, according to a Thursday Hong Kong bourse filing.Basic EPS increased to HK$0.3247 from HK$0.2611 in the corresponding period of the previous fiscal year.Revenue jumped to HK$476.2 million from HK$442.2 million in the year-ago period.

HKG:0900

US Markets38d ago

EU-US Trade Deal Set to Take Effect After Final Approval from European Council

The trade deal between the European Union and the US is set to take effect after the European Council gave its final approval on Thursday, adopting two regulations implementing tariff commitments agreed in August 2025.Under the main regulation, the EU will remove the remaining customs duties on US industrial goods. Certain US seafood and agricultural products will also gain preferential access to the EU market through tariff rate quotas and lower tariffs. The second regulation, meanwhile, extends the tariff-free imports of US lobster, including processed lobster.The approved measures also contain provisions that would suspend the deal if the US "does not respect its commitments, undermines the objectives of the Joint Statement, or otherwise disrupts balanced trade relations, including through discriminatory measures.""The adoption completes the legislative process and confirms the EU's commitment to a stable, predictable and mutually beneficial transatlantic trade relationship, while preserving the necessary guardrails to protect European economic interests," the council said in a statement.Under the deal signed in 2025, the EU and the US agreed to 15% tariffs on "most" EU exports, including automobiles, semiconductors, and pharmaceuticals.The council's adoption of the regulations comes after the European Parliament on June 16 greenlighted the proposed legislation, including a "sunset clause," which stipulates that the main regulation will cease to apply on Dec. 31, 2029, unless it is renewed.The rule on lobster imports will be retroactively implemented from Aug. 1, 2025, and conclude on July 31, 2030.The EU's final approval also averts the threats of increased tariffs. US President Donald Trump previously gave the EU a July 4 deadline to ratify the deal, saying he will impose "much higher" tariff levels on EU goods otherwise.

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Mining & Metals38d ago

MDA Space Picked to Build Parts of Japan's Defence Communications Satellite Program

MDA Space (MDA.TO) will manufacture parts of the defence communications satellite program for Japan's ministry of defense, the company said.The company was selected by Mitsubishi Electric and the new program will replace DSN-2 in geostationary orbit, a statement said.The contract will be added to MDA Space's backlog in the second quarter of fiscal 2026.

$MDA.TO

International38d ago

IMF Expects Switzerland's Economy to Grow 1.1% in 2026

The International Monetary Fund expects Switzerland's economy to expand by 1.1% in 2026, supported by an accommodative monetary policy, strong housing demand, and recent real wage gains.For 2027, the country's real gross domestic product growth is projected to pick up to 1.2%, according to a concluding statement published Thursday following an official staff visit. When adjusted for sporting events, GDP growth is forecast to come in at 0.8% in 2026 before rising to 1.5% in 2027.Meanwhile, the country's inflation rate is anticipated to remain subdued over the 2026 to 2028 period, between 0.6% and 0.7%.

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Commodities38d ago

Over 1,000 Vessels Worth $125 Billion Await Clearance to Transit Hormuz, Allianz Says

About 1,150 vessels, with an estimated vessel and cargo value of $125 billion and a total volume of 29 million gross tonnage, are currently stuck in the Persian Gulf, awaiting clearance to resume transit following the US-Iran deal, Allianz Commercial said on Wednesday.Roughly 20,000 seafarers are aboard these vessels, awaiting "solid assurances of safe passage," the firm said."The events in the Middle East have been more impactful than many would have expected. The closure of the Strait of Hormuz sets a dangerous precedent and raises questions around the long-term future of this and other critical chokepoints," said Rahul Khanna, Global Head of Marine Risk Consulting at Allianz Commercial.The recent Hormuz disruption signals a transition toward a "new maritime order" marked by heightened security risks, disrupted shipping routes, and persistent uncertainties, according to the firm.The previously steady trade flows and predictable operating conditions have become more complex and volatile, with geopolitical uncertainty now the major risk for the shipping industry, it said.Despite this fundamental transformation, Allianz noted that maritime safety has improved in recent years based on their data, with the number of vessel losses declining to 350 between 2021 and 2025, from 555 between 2016 and 2020.An increased focus on safety measures also resulted in a drop in the number of shipping incidents to 2,818 in 2025 from 3,353 in 2024, the data showed, with machinery damage, vessel collisions, and fires being the top causes of incidents."Geopolitical tensions challenge shipping's ongoing long-term safety improvements," Allianz said, adding that "more complex and volatile risk landscape enforces need for greater operational resilience versus cost efficiency."

Asia38d ago

SK Telecom Signs Deal with KG Steel, KONEX for Proprietary AI Model Application

SK Telecom (KRX:017670) signed business agreements with steel manufacturer KG Steel (KRX:016380) and automotive parts manufacturer KONEX to apply its proprietary AI foundation model AX K1 to the two firms' factories, according to a Thursday release.The three parties plan to commence field trials in the second half of 2026, deploying a manufacturing-focused AI agent at KG Steel's cold rolling line at its Dangjin plant and in KONEX's casting and processing processes, the release said.Shares of KG Steel fell over 1% at market close.

KRX:016380KRX:017670

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International38d ago

Tech Revives Wall Street Pre-Bell; Asia Rallies, Europe Up

Dow JonesNasdaq CompositeS&P 500$MU