By Adriano MarcheseDollarama intends to renew its share repurchase program to buy back up to 5% of its issued and outstanding common shares over the course of a one-year period.The Canadian dollar-store operator on Friday said that the Toronto Stock Exchange has approved its normal course issuer bi…
Sterling's recent recovery reflects a weaker dollar but also an easing in the political risk premium, Ebury's Matthew Ryan says in a note. Andy Burnham is almost certain to succeed Prime Minister Keir Starmer, and his commitment to fiscal rules is alleviating risks of a weaker sterling, he says. A…
By Adriano MarcheseDollarama intends to renew its share repurchase program to buy back up to 5% of its issued and outstanding common shares over the course of a one-year period.The Canadian dollar-store operator on Friday said that the Toronto Stock Exchange has approved its normal course issuer bi…
The Japanese economy and its equity market could probably handle some volatility, says BNY Investments' Aninda Mitra. If anything, volatility-- realized, at the money, implied--has come off given the FX interventions which have been happening, he says. "That has actually--or ironically--fueled the…
OMV Resumed at Equalweight by Morgan Stanley
0704 ET- Algonquin Power is building a regulatory momentum that is setting the course for a "back-to-basics" turnaround. National Bank of Canada's Baltej Sidhu trims his estimates slightly to reflect timing adjustments, but says that the quarter was active on the regulatory front, with new rate fil…
OMV Target Resumed at EUR56.00 by Morgan Stanley
Repsol Cut to Equalweight From Overweight by Morgan Stanley
Repsol Target Cut to EUR24.00 From EUR28.00 by Morgan Stanley
Galp Energia Raised to Overweight From Equalweight by Morgan Stanley
Yen intervention may be complemented at some point this year by a surprise rate increase, says BNY Investments' Aninda Mitra. "I think the market is underpricing the odds of either a sooner hike than, say, at the December meeting, or more than one rate hike this year." Mitra finds it striking that…
By Fabiana Negrin Ochoa and Megan CheahAt the start of the year, BNY Investments' Aninda Mitra and his colleagues wondered if they should hedge against yen appreciation.But they took the yen hedge off the table when the Iran conflict broke out. "We realized quickly that policy rates and bond yields…
India's food-price inflation and growth face risks due to weather conditions, Shilan Shah of Capital Economics writes in a note. India recorded its driest June in over a decade, and the Indian Meteorological Department is forecasting weaker-than-normal rainfall for the rest of the season due to El…
By Ed FranklEuropean Central Bank President Christine Lagarde said she won't rule out leaving her position early to offer her voice in the French presidential election in 2027.When asked by French business newspaper Les Echos if she would take part in the French political debate if geopolitical tur…
German automaker BMW used a U.S. investor day to underline that the U.S. has clearly outgrown simply being an attractive profit pool and is now a strategic manufacturing, export and product-development hub for the group, Deutsche Bank analyst Tim Rokossa writes. "Some would say THE strategic hub,"…
By Ed FranklEuropean Central Bank President Christine Lagarde said she won't rule out leaving her position early to offer her voice in the French presidential election in 2027.When asked by French business newspaper Les Echos if she would take part in the French political debate if geopolitical tur…
Palm oil fell in Asian trading, with the Bursa Malaysia Derivatives contract for September delivery down23 ringgit at 4,483 ringgit a ton. The market was likely concerned over rising output and higher stock buildup ahead of a key crop report due next week, which will reflect overall supply and dema…
U.S. Treasurys are expected to underperform other markets in the wake of economic divergence between U.S. and overseas markets, BlueBay Asset Management CIO Mark Dowding says in a note. That said, BlueBay AM continues to express no clear directional bias on U.S. Treasurys. A degree of monetary tigh…
Finnish telecom equipment maker Nokia is expected to report another quarter of strong artificial intelligence order intake, Bank of America Securities analysts write. The bank believes AI and cloud orders will be the key focus of the report. It says it believes second-quarter AI orders will be at l…
The U.S. dollar weakens, with softening market expectations regarding potential Federal Reserve interest-rate hikes. "It [the dollar] remains on track to end the week in negative territory following Thursday's disappointing jobs report," DHF Capital's Bas Kooijman says in a note. Looking ahead, tra…
