Emirati Shares in Green as UAE Exits OPEC; Fertiglobe Surges on Upbeat Q1 Earnings

-- Stock trading in the United Arab Emirates ended Wednesday higher as the FTSE ADX General Index was up 0.668%, while the DFM General Index was little changed at 0.059% in the green.

Dominating headlines, the UAE decided to exit the Organisation of the Petroleum Exporting Countries and the wider OPEC+ on Friday following a comprehensive review of its production policy and existing and future capacity.

"OPEC and OPEC+ have only ever been as strong as the members' willingness to hold barrels back from the market, and the UAE was one of those. Losing a member with 4.8 million barrels per day of capacity, and the ambition to produce more, takes a real tool out of the group's hands," Rystad Energy head of geopolitical analysis Jorge Leon commented. "While near-term effects may be muted given ongoing disruption in the Strait of Hormuz and broader geopolitical uncertainty, the longer-term implications are more consequential."

Turning to corporate news, Fertiglobe (ADX:FERTIGLB) logged a first-quarter attributable profit and revenue growth of 173% and 32%, respectively. Its shares closed the session 10.32% in the green.

Dubai-listed Tecom Group (DFM:TECOM) closed the session 1.20% higher after reporting an increased profit and revenue for the first quarter, backed by higher occupancy rates across its commercial and industrial assets and strategic investments.

Across the pond, markets will await the release of the US Federal Reserve's interest rate verdict later in the day, and as widely expected, the federal funds rate will be kept steady in the 3.50% to 3.75% range. The Federal Open Market Committee meeting is also expected to be Fed Chair Jerome Powell's final meeting, with US President Donald Trump's nominee Kevin Warsh expected to replace him.

"There is a good chance the Fed will signal it's still too early to conclude the inflation-growth trade-off and related monetary policy implications. However, the latest signs from the Middle East are not encouraging. While Powell's signals may be taken with some caution, given that this should be his last press conference, the risks are that he errs on the hawkish side," ING said.

德斯贾丁斯集团称，加拿大央行不急于对油价上涨做出反应

加拿大央行管理委员会周三维持利率不变，仍为2.25%，并暗示油价上涨不会对提振国内生产总值或潜在通胀压力产生显著影响，德斯贾丁斯表示。加拿大央行在其预测中假设，到2027年年中，布伦特原油价格将跌至每桶75美元左右，这与该行此前的预测大致一致。尽管如此，政策制定者预计，投资和就业对原油价格上涨的反应将不如以往敏感，因此2026年实际国内生产总值仅增长1.2%，而此前的预测为1.1%。德斯贾丁斯指出，尽管增长结构将有所不同——许多家庭和企业将因能源成本上涨而受到挤压，而一些企业和政府将从中受益——但预计今年经济仍将缓慢消化产能过剩带来的压力。好消息是，官员们与央行持相同观点，认为油价上涨对核心通胀的溢出效应有限。加拿大央行预计，2026年底核心通胀率将达到2.0%，略低于1月份货币政策报告（MPR）中预测的2.1%。利率决议的评论还强调了潜在通胀的有利起点。加拿大央行偏好的核心通胀指标在3月份略高于2%，且近几个月来，超过3%的组成部分比例也有所下降。因此，尽管官员们承认高油价带来的成本压力，但央行表示，其操作目标——潜在通胀率——不会受到影响。周三的货币政策报告还包含了对另一种情景的预测，即油价维持在每桶100美元左右。即使在这种情景下，预计未来几年经济仍将面临困境，因为许多家庭和企业将面临更高的成本，而高油价带来的好处需要滞后才能转化为产油区经济活动的增加。尽管如此，预测显示总体通胀率将进一步上升，且其持续时间和影响范围远超基准情景预测。据德斯贾丁斯称，加拿大央行行长蒂夫·麦克勒姆似乎暗示，这种情况可能需要连续上调政策利率。该行补充道，总体而言，除非油价持续高企，否则加拿大央行似乎倾向于在今年剩余时间内维持利率不变。假设油价回落至符合其预期水平，央行的表态表明，目标利率的任何变动都将是小幅的。德斯贾丁斯认为，这意味着一旦经济全面复苏，央行官员将逐步把政策利率上调至2.75%，即其预估的中性利率区间的中点。该行预计，这些加息措施最早也要到2027年才会出现。

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Northcoast Research 将 Pentair 的目标股价从 120 美元下调至 106 美元，维持“买入”评级。

根据FactSet调查的分析师报告，滨特尔(PNR)的平均评级为“增持”，平均目标价为103.28美元。（报道北美、亚洲和欧洲主要银行及研究机构的股票、商品和经济研究。研究机构可通过以下链接联系我们：https://www..com/contact-us）Price: $81.74, Change: $-1.12, Percent Change: -1.35%

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根据最近提交给美国证券交易委员会（SEC）的文件显示，City Holding 的一名内部人士出售了价值 733,640 美元的股票。

2026年4月28日，董事、总裁兼首席执行官查尔斯·R·哈格博克(Charles R. Hageboeck)出售了其持有的City Holding (CHCO) 5,855股股票，套现733,640美元。根据向美国证券交易委员会(SEC)提交的4号表格文件，哈格博克目前控制着该公司共计52,475股普通股，其中50,341股为直接持有，2,134股为间接控制。 SEC文件链接： https://www.sec.gov/Archives/edgar/data/726854/000072685426000111/xslF345X05/wk-form4_1777473493.xmlPrice: $125.15, Change: $-0.77, Percent Change: -0.61%

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德斯贾丁斯集团称，加拿大央行不急于对油价上涨做出反应

Northcoast Research 将 Pentair 的目标股价从 120 美元下调至 106 美元，维持“买入”评级。

根据最近提交给美国证券交易委员会（SEC）的文件显示，City Holding 的一名内部人士出售了价值 733,640 美元的股票。