Cepsa, the Spanish oil refiner, may follow its larger competitor Repsol in scaling back investments in green hydrogen in Spain. This move comes as the government considers potential changes to taxation that could impact the sector.
European stocks were mostly flat on Friday as disappointing earnings from major companies like Remy Cointreau and Mercedes-Benz dampened investor sentiment. With several risk events looming, investors remain cautious.
Thames Water Utilities Ltd. announced on Friday that it is seeking to raise up to £3 billion, or $3.9 billion, from its creditors. This move comes as the company fights to avoid insolvency while working on a long-term solution to its financial challenges.
Bank lenders who faced significant losses when German auto supplier Leoni AG underwent restructuring last year may soon see a payout. This follows news of a potential takeover deal with Chinese supplier Luxshare. If the deal goes through, it could help repay those lenders hit hard by the earlier write-downs.
Mid-cap stocks experienced a sharp rally that briefly fell into correction territory on Friday. Investors are growing worried about slowing earnings growth and high valuations, leading to increased uncertainty in the market.
Holcim Ltd. is seeing a boost in business following recent hurricanes that caused billions in damage across the US. With many homeowners rushing to repair their roofs, the demand for construction materials is surging. This increase in business is a silver lining for Holcim as they capitalize on the urgent need for rebuilding efforts in affected areas.
WeRide Inc., a Chinese self-driving automotive company, has successfully raised $440.5 million through its long-delayed US initial public offering and a private placement.
Korea Zinc Co. shares surged again on Friday after a 30% rise on Thursday. The market is eagerly awaiting the results of a stock buyback initiated by Chairman Choi Yun-beom, aimed at countering a $12.5 billion takeover offer.
A chef known for a popular Netflix show has revitalized South Korea’s struggling IPO market. He just listed his restaurant chain, with his stake valued at $215 million.
Oil prices steadied today after a two-day decline, as traders remained focused on geopolitical tensions in the Middle East and the overall supply outlook. Concerns over potential disruptions in oil supply are keeping market participants on alert.
