Financial News

Wasco Seeks Fresh Mandates for Share Buy-Backs and Related Party Transactions

Wasco (KLSE:WASCO) is seeking to renew its authorization to conduct revenue-generating transactions at its upcoming annual general meeting, according to a Thursday Malaysian bourse filing.Shares slid about 2% in Friday's midday trade.The conglomerate is also seeking its shareholders' nod to renew authority to purchase up to 10% of the issued shares of the company, according to a separate same-day filing.The company will share a statement containing details of the plans with shareholders in due time, it noted.

PhillipCapital Starts IX Biopharma at Buy with SG$1 Price Target

Australia, Singapore Strike Energy Security Pact Amid Global Crisis

Australia and Singapore have pledged to safeguard the flow of essential fuels under an agreement to stabilize regional energy markets, according to a joint statement issued on Friday.The joint statement, issued by Prime Ministers Anthony Albanese and Lawrence Wong, addressed the acute energy crisis triggered by volatility in the Middle East and the tightening of global supply chains.The 'Comprehensive Strategic Partnership 2.0' agreement solidifies a critical reciprocal trade relationship between the two nations.Singapore currently serves as a primary source of refined petroleum products for Australia, while it remains a top-tier provider of liquefied natural gas to Singapore.The pact ensures Australia's LNG exports and Singapore's refined petroleum products remain shielded from global disruptions through enhanced coordination and a legally binding trade protocol.To operationalize this, ministers have been directed to conclude a legally binding Protocol to the Singapore-Australia free trade agreement, as per the statement.

Feng Tay Enterprises Logs NT$674 Million Profit in Q1

Feng Tay Enterprises (TPE:9910) reported consolidated net profit attributable to owners of the parent of NT$674 million for the first quarter of 2026, according to a filing with the Taiwan Stock Exchange on Thursday.Shares slid over 2% in Friday's midday trade.For March alone, the company posted operating income of NT$246 million and net profit before tax of NT$413 million.The company did not disclose comparative year-ago figures in the filing.

ConocoPhillips Reportedly Explores Return to Venezuela for Oil Drilling

ConocoPhillips (COP) has sent a team to Venezuela to evaluate the prospects of oil drilling in the country, several media outlets reported Thursday, citing a company statement.The team is being sent to "better understand the potential for in-country oil and gas opportunities.... we will evaluate Venezuela against other international opportunities as part of our disciplined investment framework," said Dennis Nuss, a ConocoPhillips spokesman, according to BloombergThe company left Venezuela back in 2007 after its assets were nationalised, according to Reuters.ConocoPhillips did not immediately respond to a request for comment from.

Jefferies Adjusts Olympus' Price Target to 1,700 Yen from 1,750 Yen, Keeps at Hold

Olympus (TYO:7733) has an average rating of overweight and mean price target of 1,803.85 yen, 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://www..com/contact-us)

Prudential Buys Back Shares

Prudential (HKG:2378, SGX:K6S) bought back 251,388 shares in London on Thursday at an average price of about 11.16 pounds sterling apiece, according to a Friday Hong Kong bourse filing.The insurer intends to cancel the repurchased shares.Following the transaction, the company will have about 2.53 billion shares in issue.

StanChart Buys Back Shares

Standard Chartered (HKG:2888) bought back 828,088 shares on Thursday at an average price of 16.901 pounds sterling apiece, according to a Friday Hong Kong bourse filing.The British lender plans to cancel the shares, following which it will have about 2.23 billion shares in issue.

Ryohin Keikaku's Profit Jumps 35% in Fiscal H1

Ryohin Keikaku's (TYO:7453) profit attributable to owners of the parent jumped 35% to 34.3 billion yen for the fiscal first half from 25.5 billion yen a year earlier.The retailer's earnings per share increased to 64.51 yen from 48.03 yen a year ago, according to a Tokyo bourse filing on Friday.Net sales jumped nearly 15% to 438.5 billion yen for the six months ended Feb. 28, from over 382 billion yen in the prior year.It declared a second-quarter dividend of 22 yen per share, payable from May 8.In a separate filing, Ryohin Keikaku raised its forecast for the fiscal year ending Aug. 31, citing better-than-anticipated second-quarter results and a favorable depreciation of the yen.The company now expects an attributable profit of 62 billion yen from 53 billion yen previously, EPS of 116.80 yen from 99.91 yen, and operating revenue of 887 billion yen from 860 billion yen.Ryohin Keikaku also raised its annual dividend forecast to 32 yen from 28 yen initially, including a final dividend of 16 yen per share.

Nomura Adjusts Ecopro BM's Price Target to KRW270,000 from KRW200,000, Keeps at Buy

Ecopro BM (KOSDAQ:A247540) has an average rating of hold and mean price target of 166,547.63 won, 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://www..com/contact-us)

Pemex Confirms Fire Contained at Olmeca Refinery in Mexico's Tabasco State

Petroleos Mexicanos, the Mexican state-owned oil and gas company also known as Pemex, said Thursday a fire incident was contained at its Olmeca refinery in Dos Bocas in Mexico's Tabasco state.No injuries were reported following the fire incident which occurred in the coke warehouse of the refinery, the company said in a statement shared on social media."The Director of Pemex and the Manager of the Olmeca Refinery inform me that the fire is confined exclusively to a coke storage area and is under control," President Claudia Sheinbaum said in a post on social media platform X.About 150 Pemex personnel were involved in the response operations, with Navy, Defense, and state government staff also providing support, Sheinbaum said.The refinery, with a maximum processing capacity is 340,000 barrels per day, has faced repeated issues since the start of operations in 2024 and has failed to meet output targets promised at its 2022 launch, Reuters reported Thursday.On March 17, five people were killed after after "oily waters" caught fire in the refinery's vicinity, the report said.The refinery was built at a cost of $21 billion, more than twice its intended budget, with an aim to reduce the country's reliance on fuel imports, the report added.

Hong Kong Stocks End in Green as Investors Track US-Iran Talks; Haidilao Chairman to Increase Stake in Firm

Hong Kong stocks closed marginally higher Friday as investors held out hope for a breakthrough in the upcoming peace talks between Iran and the U.S.The Hang Seng Index rose by around 141.14 points, or roughly 0.6%, to end at 25,893.54, while the Hang Seng China Enterprises Index increased by 43.21 points, or around 0.5%, to close at 8,655.04.U.S. and Iranian delegations arrived in Islamabad on Friday ahead of crucial talks beginning Saturday that could pave the way for a definitive peace treaty between the two sides.However, tensions lingered between both sides, as Israel continued attacks on Lebanon while Washington accused Iran of failing to re-open the Strait of Hormuz as promised.In corporate news, Haidilao International (HKG:6862) said its chairman and controlling shareholder Zhang Yong plans to increase his stake by no less than HK$100 million within 12 months.Shares of the restaurant operator gained nearly 3%.Pateo Connect Technology (Shanghai) (HKG:2889) entered a framework agreement to develop embodied intelligence with the Graduate School of AI Operating System of Shanghai Jiao Tong University.Shares of the smart cockpit solutions provider closed almost 4% lower.

Italy's Monthly Industrial Output Up 0.1% in February

Italy's seasonally adjusted industrial production ticked up 0.1% month over month in February, after a 0.6% decline in January, statistics agency Istat said Friday.Analysts expected a 0.5% increase for the month.On a yearly basis, the calendar-adjusted industrial output rose 0.5%, matching the consensus estimate, against the 0.6% decrease earlier.

WT Microelectronics' Sales Shoot Up 119% in March

WT Microelectronics (TPE:3036) posted consolidated sales of about NT$194.1 billion for March, soaring 119% annually, according to a Thursday filing on the Taiwan Stock Exchange.Shares gained nearly 1% in Friday's midday trade.Monthly, the figure soared roughly 86%, the company said.For the first quarter, cumulative sales totaled NT$494.3 billion, up about 100% year-on-year, it added.

Market Chatter: Chinese Airlines Add 2,350 Europe Flights Amid Iran War

This summer will see Chinese airlines adding 2,350 flights to Western Europe, seizing the advantage as disruptions stemming from the Iran war force rivals onto longer, costlier routes, Nikkei Asia reported Friday.While European carriers detour south due to closed Russian and Ukrainian airspace, Chinese airlines still fly direct over Russia, according to the report.The detours cost between $8,000 and $20,000 extra per hour in fuel alone, Nikkei Asia wrote.Air China (SHA:601111, HKG:0753) leads the charge with 969 added flights over the March-to-October season, followed by China Eastern (SHA:600115, HKG:0670) and China Southern (SHA:600029, HKG:1055) with 697 and 410, respectively, according to 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.)

Update: Telix Pharmaceuticals Says FDA Accepted Brain Cancer Imaging Application; Shares Rise Pre-Bell

(Updates recent stock movement in the last paragraph)Telix Pharmaceuticals (TLX) said Thursday the US Food and Drug Administration accepted its resubmitted new drug application for its investigational glioma imaging agent Pixclara.The regulatory agency assigned a target action date of Sept. 11 to review the imaging system, which is intended to help differentiate between recurrent brain tumors and treatment-related cellular changes in both adult and pediatric patients, the company said.The diagnostic product previously received orphan drug and fast track designations from the FDA, Telix added.Shares of the company were up more than 9% in Friday premarket activity.Price: $10.69, Change: $+0.91, Percent Change: +9.29%

Market Chatter: Alibaba Cloud Leads 2 Billion Yuan Funding Round for Chinese AI Startup Shengshu

Chinese artificial intelligence startup Shengshu Technology obtained 2 billion yuan from a funding round led by Alibaba's (HKG:9988) cloud unit, according to multiple media reports.The funding will help the startup support the development of its "general world model" that will simulate human perception and interaction, Reuters reported Friday.Shengshu did not say when its model would be commercially available.Baidu Ventures and Luminous Ventures also backed the funding round, Bloomberg reported separately.(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.)

EMEA Natural Gas Update: Futures Slip Despite Fragile Ceasefire, Persistent Iran Attacks

European natural gas futures were down on Friday, despite the fragile nature of the ceasefire between the US and Iran, and Tehran's continued attacks against regional energy infrastructure.The front-month Dutch TTF contract fell 2.06% to 45.22 euros ($52.81) per megawatt-hour, while UK NBP futures lost 2.36% to 114.00 pence ($1.50) per therm. Dutch TTF was set to end the week down by 9.58%, while UK gas was down 9.73%, according to data from Trading Economics.Iran's state-run media, on Friday, dismissed reports of senior officials visiting Pakistan to hold diplomatic talks with the US, according to a report by the Hindustan Times.The Tasnim News Agency reportedly reiterated the country's stance on the peace talks, saying, "As long as the [US] does not fulfill its commitment to the ceasefire in Lebanon and the Zionist regime continues its attacks, the negotiations are on hold."Meanwhile, Tehran continued targeting regional energy infrastructure, striking a key Saudi pipeline facility on Thursday and disrupting roughly 700,000 barrels per day of oil flows, according to various news outlets.Sultan Ahmed Al Jaber, the CEO of Adnoc, the UAE's state-owned oil company, said that despite the ceasefire being announced earlier this week, the Strait of Hormuz was not open.Access to the crucial Strait, which handles 20% of global LNG flows, he said, was still being "restricted, conditioned and controlled," in a social media post on Thursday.As the Strait's closure is set to enter its seventh week, just 9 vessels transited through it over the past 24 hours, according to the Hormuz Strait Monitor.This is in sharp contrast to the typical daily average of 138 ships per day, according to the UK's Joint Maritime Information Center, which noted that there were no new vessel attacks over the past 24 hours.Daniel Hynes, a senior commodity strategist at ANZ, said there was "no end in sight to the impasse," as LNG tankers continued to remain stuck in the Persian Gulf.Hynes also added that the resulting supply tightness was being compounded by the outages in Australia's LNG facilities, with Chevron's Wheatstone gas facility operating at jsut 50% of capacity, due to damage from Cyclone Narelle last month.All of this comes at a critical juncture for European markets, as the region enters refilling season with low inventories, at just 28.92% of capacity, compared to 34.97% last year, according to data from Gas Infrastructure Europe.

Sunda Energy Raises Funds via Retail Offer

Sunda Energy (SNDA.L) said Friday it raised 404,780 pounds sterling in gross proceeds through a retail offer of new shares.The offering comprised 13,606,029 new shares and 6,802,977 warrants, with the retail offer subject to approval of certain resolutions at the gas-focused exploration and appraisal company's general meeting on April 29.The new shares are anticipated to commence trading on the London bourse's AIM segment on April 30.

Power Mech Projects Secures INR2.96 Billion Mumbai Monorail O&M Contract; Shares Jump 8%

Power Mech Projects (NSE:POWERMECH, BOM:539302) secured an order worth 2.96 billion Indian rupees from Maha Mumbai Metro Operation Corp., according to an Indian bourse filing on Friday.The order is for operations and maintenance of the Mumbai Monorail, covering a 19.54 km corridor with 17 stations from Sant Gadge Maharaj Chowk to Chembur, the filing said. The contract is for five years, it added.Shares of the company jumped 8% in recent trade.