Phuchit Sweden’s industrial bearings maker SKF ( SKFRY ) reported a smaller-than-expected decline in first-quarter earnings, supported by resilient industrial demand and pricing, even as macro and geopolitical risks intensified. SKF’s ( SKFRY ) Q1 net sales fell about 8.7% Y/Y to roughly SEK 21.9B, broadly in line with analyst expectations. Adjusted operating profit was reported at SEK 2.95B, down...
Phuchit Sweden’s industrial bearings maker SKF ( SKFRY ) reported a smaller-than-expected decline in first-quarter earnings, supported by resilient industrial demand and pricing, even as macro and geopolitical risks intensified. SKF’s ( SKFRY ) Q1 net sales fell about 8.7% Y/Y to roughly SEK 21.9B, broadly in line with analyst expectations. Adjusted operating profit was reported at SEK 2.95B, down from SEK 3.23B Y/Y, against a mean forecast of 2.74B in a poll of analysts provided by SKF ( SKFRY ) . Adjusted EPS was SEK 4.25 (vs. 4.71 last year). "We expect market demand to remain at similar levels as in Q1 as a whole. Consequently, we expect organic sales to be relatively unchanged year-over-year, against more demanding comparables. However, geopolitical turmoil, including the conflict in the Middle East, amplifies overall uncertainty." CEO Rickard Gustafson said . Outlook: The company guided for lower currency headwind in Q2 2026, expecting a negative impact of around SEK 100M on operating profit compared with about SEK 800M in Q1. The company maintained its FY 2026 outlook with a capital expenditure of roughly SEK 5B. It also reiterated that items affecting comparability tied to the Automotive separation and footprint optimization will total between SEK 2.5B and SEK 3B, unchanged and within the framework outlined at its CMD 2025. SKF ( SKFRY ) pointed to geopolitical tensions, including the Iran‑related conflict, as key sources of uncertainty for order intake and capex decisions, especially in Europe and emerging markets, which in turn could weigh on future sales growth More on AB SKF (publ) AB SKF (publ) (SKFRY) Q4 2025 Earnings Call Transcript AB SKF (publ) 2025 Q4 - Results - Earnings Call Presentation AB SKF Non-GAAP EPS of SEK 4.25, revenue of SEK 21.87B; gives Q2 and reaffirms FY26 outlook Seeking Alpha’s Quant Rating on AB SKF (publ) Historical earnings data for AB SKF (publ)
georgeclerk/iStock via Getty Images By Kelvin Wong Annual inflation in New Zealand came in at 3.1% year-on-year in Q1 2026, unchanged from Q4 2026’s 1.5-year high but exceeded the consensus forecast of 2.9%. The latest inflation print in New Zealand has continued to surpass the RBNZ (New Zealand central bank) long-term inflation target of 1%-3%, therefore increasing the odds of a 25 basis points (...
georgeclerk/iStock via Getty Images By Kelvin Wong Annual inflation in New Zealand came in at 3.1% year-on-year in Q1 2026, unchanged from Q4 2026’s 1.5-year high but exceeded the consensus forecast of 2.9%. The latest inflation print in New Zealand has continued to surpass the RBNZ (New Zealand central bank) long-term inflation target of 1%-3%, therefore increasing the odds of a 25 basis points (bps) interest rate hike by the RBNZ in July’s monetary policy meeting to bring the official cash policy rate higher to 2.50%. So far, the RBNZ has kept its policy rate unchanged at 2.25% for two consecutive meetings since February 2026. 2-year NZ sovereign bond/US Treasury yield spread has started to price in a more hawkish RBNZ Fig. 1: 2-year yield spread of New Zealand sovereign bond and US Treasury note medium-term trend as of Apr 21, 2026 (Source: TradingView) By looking at the current 2-year yield spread between New Zealand sovereign bonds and US Treasuries from a technical analysis perspective, it has traced out a major bullish reversal “Inverse Head & Shoulders” configuration since January 9, 2025 and traded above its 200-day moving average, which is acting as a key support at -0.45% (see Fig. 1). Therefore, breaking above the neckline resistance of the “Inverse Head & Shoulders” at -0.09% is likely to see a further rally in the current 2-year yield spread between New Zealand sovereign bonds and US Treasuries (US Treasuries’ yield premium shrinkage), in turn, putting potential upside pressure on the NZD/USD rate. Let us now examine the short-term outlook (1-3 days) of NZD/USD from a technical analysis perspective. NZD/USD - Bullish reversal at 0.5846 support Fig. 2: NZD/USD minor trend as of 21 Apr 2026 (Source: TradingView) Fig. 3: NZD/USD medium-term trend as of Apr 21, 2026 (Source: TradingView) Watch the 0.5880/0.5846 key short-term pivotal support on the NZD/USD. A clearance above 0.5929 opens scope for a further potential short-term rally for the next intermedi...
The war in the Middle East will have an estimated impact on the French budget of as much as €6 billion ($7.1 billion), Finance Minister Roland Lescure said in an interview with RTL radio. “This crisis is still extremely uncertain in its course, in its economic impact and in its impact on public finances,” he said Tuesday. “At this stage, the potential impact of the crisis is still very large — we ...
The war in the Middle East will have an estimated impact on the French budget of as much as €6 billion ($7.1 billion), Finance Minister Roland Lescure said in an interview with RTL radio. “This crisis is still extremely uncertain in its course, in its economic impact and in its impact on public finances,” he said Tuesday. “At this stage, the potential impact of the crisis is still very large — we are talking about 4 to 6 billion euros.” Read More: France Keeps Deficit Goal Despite Lower Growth Forecast Earlier this month, the government lowered its outlook for economic growth this year to 0.9% from the 1% it included in the 2026 budget bill. Inflation is also expected to be faster than previously expected at 1.9% instead of 1.3%. Prime Minister Sébastien Lecornu sent a letter to his ministers saying that government departments will have to make cuts to offset the impact of the conflict and keep the budget deficit on course for its 5% target for 2026, Le Monde reported. The government plans to freeze approximately €6 billion in spending, including roughly €4 billion for the central government and €2 billion for social security, the paper said. “We’re going to put precautionary measures in place,” Lescure told RTL. “We’re freezing spending. We can then unfreeze it if things improve.”
Russia's Tuapse Refinery Attacked 2nd Time In Days, While Battling Oil Spill Into Black Sea There's been yet another major attack on Russia's major Black Sea energy hub and port of Tuapse, after just a few days prior a drone wave had unleashed a fire so big it cold be seen from space , given the over 100-mile smoke plume that had spread over the Black Sea. In this latest overnight Ukrainian assaul...
Russia's Tuapse Refinery Attacked 2nd Time In Days, While Battling Oil Spill Into Black Sea There's been yet another major attack on Russia's major Black Sea energy hub and port of Tuapse, after just a few days prior a drone wave had unleashed a fire so big it cold be seen from space , given the over 100-mile smoke plume that had spread over the Black Sea. In this latest overnight Ukrainian assault reported Monday, the drone attack killed least one person and resulted in more major fires , and now emergency crews are battling their second huge blaze at the site in under a week. There's been a massive oil spill into coastal waters to boot. Screen Last week's fires (which began with the last Thursday strike) had only just been extinguished at the Rosneft-owned refinery . The prior drone wave had damaged residential areas, while this fresh attack has damaged a gas pipeline, a church and two schools - according to regional reports. "Fire crews and rescue services are currently engaged at every site," Tuapse Mayor Sergei Boyko said , confirming that several locations along the export terminal were struck. Ukraine's military took responsibility for the attack, as well as hits on two oil depots in nearby Crimea . As for last week's initial assault, Russian media says it resulted in a significant oil spill into the waters of the Black Sea, with TASS providing the following details : An oil product spill into the Black Sea waters occurred in Tuapse after the UAV attack carried out by Ukrainian forces on the night of April 16, according to the regional operational headquarters’ Telegram channel. On April 19, an oil slick was detected in the sea on a satellite image. The oil slick is located about one and a half miles from the port of Tuapse . The area of contamination of the Black Sea with oil products amounts to 10,000 square meters , according to the Telegram channel of the Krasnodar Region operational headquarters. Specialists have also contained the oil spill in the Tuaps...