A Swedish power trader behind a major collapse in Finland’s electricity market in 2023 is facing a €9.25 million ($11 million) fine. A botched bid by Kinect Energy Sweden AB sent shockwaves through the market about two and a half years ago, halting intraday trading across northern Europe and driving prices deep into negative territory. Some Finns even enjoyed a full day of free electricity. The co...
A Swedish power trader behind a major collapse in Finland’s electricity market in 2023 is facing a €9.25 million ($11 million) fine. A botched bid by Kinect Energy Sweden AB sent shockwaves through the market about two and a half years ago, halting intraday trading across northern Europe and driving prices deep into negative territory. Some Finns even enjoyed a full day of free electricity. The company mistakenly offered to sell the equivalent of roughly half of Finland’s total consumption in an hourly auction, and later had to trade in the market to correct its position. Authorities urged the public to keep usage at normal levels to safeguard grid stability. Read: Power Trader Whose Error Crashed Market Will Be Fined Finland’s Energy Authority said Monday in a statement it has proposed that the country’s Market Court order the World Kinect Corp. unit to pay an administrative fine of €9,254,600. The company was found to have “acted negligently,” breaching rules against market manipulation. The proposed fine amounts to 5.5% of the unit’s 2023 revenue, below the maximum penalty of 10%. The error was estimated to have cost the firm as much as €50 million to make good on the trades. Kinect’s order in the day-ahead electricity market on Nov. 23, 2023, caused the average price in the Finnish bidding zone to plunge to -€203.4 per megawatt-hour, including 10 hours at the minimum level of -€500. The error also spilled over into neighboring markets, reflecting the region’s tightly interconnected grids.
Darren415/iStock via Getty Images Boeing ( BA ) the airline manufacturing giant that is ordinarily the envy of the world and one of only two airline manufacturers across the globe (Airbus ( EADSF , EADSY ) being the other), reported their Q1 ’26 financial results on Wednesday morning, April 22nd, 2026, and while the results weren’t great, the results do indicate Boeing is slowly moving forward wit...
Darren415/iStock via Getty Images Boeing ( BA ) the airline manufacturing giant that is ordinarily the envy of the world and one of only two airline manufacturers across the globe (Airbus ( EADSF , EADSY ) being the other), reported their Q1 ’26 financial results on Wednesday morning, April 22nd, 2026, and while the results weren’t great, the results do indicate Boeing is slowly moving forward with aircraft construction and deliveries but may not hit “peak” output until 2028. According to Jeffries, free cash flow (FCF) was “the star of the quarter” even though FCF was still a loss of ($1.4 billion), so cash flow from operations was likely better than expected at just a loss of ($179 million). Jefferies also noted that the MAX 7 and MAX 10 certifications are coming in 2026. From a valuation perspective, Morningstar noted that half of BA’s enterprise value will come from the 737, thanks to its higher margin. Morningstar expects the 737 to return to 2018-level production by late 2027, which is just 18 months away. This blog’s analytic update noted that with Q1 ’26 results, BA’s price-to-sales has fallen under 2x to 1.93x. Looking at forward BA EPS estimates, readers can see how it’s 2027, but really 2028 where the delivery leverage will likely fully materialize for BA, and shareholders will likely see operating margin growth, and cash flow and free flow growth. BA’s forward revenue estimates reflect the fact that certifications and FAA relief on deliveries per month continue, which will help the company’s revenue estimates. 2027 revenue estimates continue to rise even though the 2027 EPS continue to reflect pressure. (You wonder why Kelly Ortberg looks so grim every time he’s on CNBC.) BA summary Even though BA’s GAAP financial statements look grim, the company will print record revenue sometime in 2027, surpassing the previous $102-103 billion peak late last decade. Also, BA (the stock) beat the S&P 500 in 2025 (as discussed in the earnings preview last week ) and is ...
London ( UKX ) -0.25% to 10,352. The pound steadied above $1.35, bouncing back from two-week lows. Germany ( DAX:IND ) +0.09% to 24,149. German consumer confidence fell more than expected, sinking to a more than three-year low in May. France ( CAC:IND ) -0.12% to 8,147. In other parts of Europe, The pan-European Stoxx 600 ( STOXX) traded 0.22% lower to 609.3 as investors kept a close watch on deve...
London ( UKX ) -0.25% to 10,352. The pound steadied above $1.35, bouncing back from two-week lows. Germany ( DAX:IND ) +0.09% to 24,149. German consumer confidence fell more than expected, sinking to a more than three-year low in May. France ( CAC:IND ) -0.12% to 8,147. In other parts of Europe, The pan-European Stoxx 600 ( STOXX) traded 0.22% lower to 609.3 as investors kept a close watch on developments in the Middle East. Iran has reportedly presented the U.S. with a new proposal aimed at reopening the Strait of Hormuz and ending the conflict while postponing nuclear negotiations to a later stage. Meanwhile, investors are preparing for a busy week of major central bank decisions, including announcements from the Fed, the ECB, and the BoE. The euro strengthened above $1.17, recovering from two-week lows recorded last week, as investors await a busy week of economic releases, including Eurozone inflation and GDP data. In the bond market, the yield on the US 10-year Treasury was up 1 basis point to 4.32%. UK's 10-year yield was up 4 basis points to 4.95%, approaching 2008 levels, as oil prices surged. Germany's 10-year yield was up 1 basis point to 3.02%, nearing its highest level since 2011. Currencies: ( EUR:USD ) ( GBP:USD ) ( CHF:USD ) ETFs: (NYSEARCA: EWG ), (NYSE: GF ), (NYSEARCA: EWI ), (NYSEARCA: EWQ ), (NASDAQ: FGM ), (NASDAQ: DAX ), (NYSEARCA: FLGR ), (NYSEARCA: FXB ), (NYSEARCA: EWU ), (NASDAQ: FKU ), (BATS: EWUS ), (NYSEARCA: FLGB ), (NYSEARCA: GREK ) More on Europe EUR/USD Drifted Down To 1.1665/1635 Key Support For Potential Bullish Reversal Dollar Reasserts Itself As Global Tensions Shift Currency Markets EUR/USD Remains Driven By Geopolitics European markets mixed as investors weigh market sentiment UK telecom firms warn of mobile signal rationing amid energy crisis - report
(RTTNews) - Asian stocks ended mixed on Monday as upbeat Chinese data and investor enthusiasm around artificial intelligence offset concerns over stalled U.S.-Iran negotiations and Hormuz risks.
(RTTNews) - Asian stocks ended mixed on Monday as upbeat Chinese data and investor enthusiasm around artificial intelligence offset concerns over stalled U.S.-Iran negotiations and Hormuz risks.