AlexLMX/iStock via Getty Images By Elior Manier Despite yesterday's more optimistic US CPI report, markets are now focusing on a bleaker inflationary picture ahead. A major theme in markets is the progressive repricing for a more persistent and damaging US-Iran-Israel war, which would have long-lasting consequences on oil prices. Polymarket Odds for the War to End before April 30 As you can see fr...
AlexLMX/iStock via Getty Images By Elior Manier Despite yesterday's more optimistic US CPI report, markets are now focusing on a bleaker inflationary picture ahead. A major theme in markets is the progressive repricing for a more persistent and damaging US-Iran-Israel war, which would have long-lasting consequences on oil prices. Polymarket Odds for the War to End before April 30 As you can see from the Polymarket odds, the odds for a 5- to 6-week conflict fell from 80% to the current 47%, adding to the (justified) fears of a damaging long war. With the Iranian regime holding out stronger than expected, nominating a new leader in Mojtaba Khamenei and continuing its attacks on neighboring countries, it seems that it would either require more force or a new plan to really materialize the conflict into the desired regime change outcome. Participants and the general media are now roasting the Trump Administration for its lack of exit plans. To me, this could be a strategy to create doubt, as we are "only" on the 13th day of the conflict, but people's skepticism regarding Trump's temerity is justified. Even his prior advisors warned of such, warning of a "self-inflicted wound" to the US economy as oil rallies back to $95. For those who haven't looked back yet, the consecutive oil crises in the 1970s were the prelude to the infamous stagflation era, and the market never jokes around with such economic trends . Oil and Dow Jones Inverse Correlation. March 12, 2026 – Source: TradingView If anybody is enjoying this at least, it's the dollar bulls, as the petrodollar has been fuming higher since the beginning of the conflict. Rate traders have now priced out around 40 bps of rate cut pricing since the beginning of the conflict, with rate cut odds towards the end of 2026 only around 23 bps. Subject to an almost 1-to-1 correlation with oil since early March, the greenback has kept outperforming major forex currencies, in particular the subject of this afternoon's FX outlook, th...
(RTTNews) - WeRide (WRD) announced an expanded strategic partnership with Tencent Cloud, the cloud computing brand under Tencent Group. Starting today, WeRide's Robotaxis will be integrated into the Tencent Mobility Service mini program on WeChat, enabling users to book and pay for rides directly without needing additional apps. By tapping into the high-traffic Tencent Mobility Service mini progra...
(RTTNews) - WeRide (WRD) announced an expanded strategic partnership with Tencent Cloud, the cloud computing brand under Tencent Group. Starting today, WeRide's Robotaxis will be integrated into the Tencent Mobility Service mini program on WeChat, enabling users to book and pay for rides directly without needing additional apps. By tapping into the high-traffic Tencent Mobility Service mini program, WeRide's Robotaxis gain access to a broad base of WeChat users and integrate more closely with daily travel scenarios. WeChat's ecosystem traffic is expected to translate into steady demand, accelerating WeRide's large-scale Robotaxi commercialization and progress toward per-vehicle profitability. Following the launch on WeChat, WeRide's Robotaxi service will also be available on Tencent Maps, further expanding autonomous ride-hailing options. Currently, users in Guangzhou are the first to experience the service, with plans to gradually expand availability to additional cities. Booking is simple: users open WeChat, tap Me ? Services ? Tencent Mobility Service, enter pickup and drop-off points, and select Autonomous Driving ? WeRide when a nearby Robotaxi stop is available. Globally, WeRide is integrating into top mobility platforms at an industry-leading pace. Its Robotaxi fleet is already connected with Uber, Southeast Asia's Grab, the Middle East's TXAI platform, and will soon be available on the IOKI app in Zurich. The company has launched fully driverless commercial operations in Abu Dhabi and is conducting public operations, trial services, or autonomous testing in Dubai, Riyadh, Singapore, and Zurich, with fully driverless operations in Dubai set to launch soon. WeRide's global Robotaxi fleet exceeded 1,023 vehicles in January 2026, and the company is steadily moving toward its goal of over 2,600 Robotaxis worldwide in 2026, with ambitions to reach tens of thousands by 2030. The views and opinions expressed herein are the views and opinions of the author and do not...
Holden said Reeves "could cancel the fuel duty rise, she could cut the taxes piled on to energy, she could stop piling costs on to the price of fuel - but she isn't doing anything because she doesn't have the backbone".
Holden said Reeves "could cancel the fuel duty rise, she could cut the taxes piled on to energy, she could stop piling costs on to the price of fuel - but she isn't doing anything because she doesn't have the backbone".
Hong Kong’s CK Infrastructure Holdings Ltd. is seeking a £1 billion ($1.4 billion) bridge loan for its pursuit of UK smart-meter assets owned by Macquarie Group Ltd. , according to people with knowledge of the matter. CKI, founded by Li Ka-shing , has sounded out banks for potential financing, said the people, who asked not to be identified because the information is private. The loan package migh...
Hong Kong’s CK Infrastructure Holdings Ltd. is seeking a £1 billion ($1.4 billion) bridge loan for its pursuit of UK smart-meter assets owned by Macquarie Group Ltd. , according to people with knowledge of the matter. CKI, founded by Li Ka-shing , has sounded out banks for potential financing, said the people, who asked not to be identified because the information is private. The loan package might be larger as CKI may seek more for other corporate purposes, the people said. Macquarie Commodities and Global Markets, a unit of Macquarie Group, is inviting suitors, including CKI, to bid for its portfolio of gas and electricity smart meters, the people said. Deliberations are ongoing and CKI may decide to drop the pursuit, according to the people. Representatives for Macquarie and CKI declined to comment. Macquarie agreed to buy Iberdrola SA ’s UK business, SP Smart Meters Asset Ltd. , for about £900 million in May, adding about 2.7 million meters to bring its total to over 13 million, making it one of the largest independent smart meter providers in the UK. CKI formed a joint venture with CK Asset Holdings, previously known as Cheung Kong Property Holdings, to buy Ista, a smart meters company based in Germany, for €4.5 billion ($5.2 billion) in 2017.
Ian Patrick, CIO at the Australian Retirement Trust, discusses the investment opportunities ahead as Australia’s pension industry aims to deepen their push into overseas markets. He speaks with Haidi Stroud-Watts and Avril Hong from the sidelines of the Australian Superannuation Investment Summit. (Source: Bloomberg)
Ian Patrick, CIO at the Australian Retirement Trust, discusses the investment opportunities ahead as Australia’s pension industry aims to deepen their push into overseas markets. He speaks with Haidi Stroud-Watts and Avril Hong from the sidelines of the Australian Superannuation Investment Summit. (Source: Bloomberg)
izusek/E+ via Getty Images Thesis Kamada Ltd. ( KMDA ) has just reported a 4Q25 GAAP EPS of $0.06, a figure that misses consensus by about $0.02, while revenue, which hit $44.68 million and represents 14.6% year-over-year growth, also fell short of estimates by about $1.94 million. So shares closed about 4.5% lower on the day of the call. As for outlook, management reaffirmed its 2026 guidance for...
izusek/E+ via Getty Images Thesis Kamada Ltd. ( KMDA ) has just reported a 4Q25 GAAP EPS of $0.06, a figure that misses consensus by about $0.02, while revenue, which hit $44.68 million and represents 14.6% year-over-year growth, also fell short of estimates by about $1.94 million. So shares closed about 4.5% lower on the day of the call. As for outlook, management reaffirmed its 2026 guidance for $200 to $205 million in revenue and $50 to $53 million in adjusted EBITDA. The big news came in the form of a cash dividend announcement of $0.25 per share. This puts the total at about $14.4 million and payable on April 6th next month. It will be for shareholders of record as of March 23rd, just to keep in mind. This is actually a new company's annual cash dividend policy, in which they’re set to distribute at least 50% of annual net income to shareholders. Since my last coverage , the stock has seen about a 7% upside despite the small sell-off post-earnings. So my case for Kamada stock to see potential upside is via their core plasma-derived products. We also want to see more long-term contracts, as with Kedrab, through 2031. The biosimilars/distribution business could also offer a lot of upside if we see international expansion ramp up. I do, however, see some near-term headwinds, such as competition for Cytogam, as I'll explain. Which is why I've chosen to remain hold rated on the stock. Kamada Ltd. FY25 earnings On earnings, we saw Kamada deliver some pretty strong revenue expansion as well as improved profitability. Total revenue managed to reach $180.5 million, which was a 12% year-over-year increase from the $161.0 million we saw back in 2024. We can put the growth mainly down to increased demand for some of the company’s plasma-derived therapies, particularly Varizig and Kedrab, in the U.S. As for international markets, Kamrab and Glassia also did quite well. We also saw the company benefit from expansion in their distribution segment, particularly with the launch...
Getty Images BlackBerry Limited ( BB ) is a mid-sized software and security company with global operations. BB’s segments are Secure Communications for high-security software and QNX for embedded software. The company also produces revenue from a much smaller licensing contributor from its legacy operation as a mobile-device manufacturer. Interestingly, QNX is not only becoming a supplier of real-...
Getty Images BlackBerry Limited ( BB ) is a mid-sized software and security company with global operations. BB’s segments are Secure Communications for high-security software and QNX for embedded software. The company also produces revenue from a much smaller licensing contributor from its legacy operation as a mobile-device manufacturer. Interestingly, QNX is not only becoming a supplier of real-time operating systems (RTOS) and hypervisors, but it’s also growing into a broader software platform for next-generation vehicles and industrial automation. In that sense, I believe BB now represents an interesting opportunity for contrarian investors. From Smartphones To Enterprise Software BlackBerry Limited is currently an enterprise software company and not a smartphone manufacturer anymore. BB now develops software for secure communications for governments, regulated industries, and automotive and industrial customers. BB was founded back in 1984, originally as Research in Motion (RIM), and by 2013 , it had changed its name to the current one. BB is headquartered in Waterloo, Ontario, and its business seems to be recovering while trading at a reasonable valuation, so I thought it was worthwhile writing an article on this name. Source: BlackBerry Investor Briefing at CES 2026. January 2026. You see, after a meaningful decline from its 2025 highs, I now think the stock is a viable contrarian “Buy” at these levels. In my view, BB has most likely pulled back like this due to skepticism about whether QNX’s design and backlog can actually translate into sustained growth (more on this later). Obviously, this means there’s uncertainty about how quickly we can see QNX help re-rate the stock. On the other hand, I don’t think Secure Communications is the main concern right now, as it’s mostly BB’s stable revenue base rather than a major growth engine. Thus, BB’s execution risks and slightly premium multiple combined have likely pressured the stock price since its 2025 highs. Wit...
Market Snapshot USD/INR ₹92.20 +0.2% Nifty 50 Index 23,639.15 -1.0% India 10-Year Bond Yield 6.67% +0.00 Spot Gold ($/oz) $5,114.18 +0.7% S&P 500 Futures 6,700.50 +0.3% Market data as of 08:18 AM IST, Mar. 13, 2026, or the previous close for Indian markets. Data is subject to provider delays. Good morning... I’m Savio Shetty , and covering equities in Mumbai has been quite something this turbulent...
Market Snapshot USD/INR ₹92.20 +0.2% Nifty 50 Index 23,639.15 -1.0% India 10-Year Bond Yield 6.67% +0.00 Spot Gold ($/oz) $5,114.18 +0.7% S&P 500 Futures 6,700.50 +0.3% Market data as of 08:18 AM IST, Mar. 13, 2026, or the previous close for Indian markets. Data is subject to provider delays. Good morning... I’m Savio Shetty , and covering equities in Mumbai has been quite something this turbulent week. Local shares head into Friday looking weary, with bulls watching nervously as the Nifty 50 hovers near a key support level. A weak regional backdrop, with the deepening risk-off mood, is compounding the strain on already fragile Indian equities. Meanwhile, geopolitical tensions are keeping investors uneasy. US President Donald Trump and Iran’s new supreme leader have both struck defiant tones, with Tehran saying the Strait of Hormuz should remain shut. Brent crude’s surge back toward $100 a barrel is sending another energy shock through the system. For India, that’s a double blow. Higher crude squeezes corporate margins and complicates the inflation outlook. It also pressures the rupee, raising the risk of faster foreign fund outflows. Another worry is building. Prices for everyday goods are starting to climb again, raising the risk that inflation could take some of the shine off early signs of a recovery in consumer spending. But there’s a silver lining for one hitherto unsung sector. Coal power might become a hero in these times. More on that below. In today’s newsletter, we look at: A boost for coal usage amid the gas shortage The allure of arbitrage funds as a safe haven A record line-up of bankers for the NSE IPO But first, a closer look at how a key support that has held for years is under attack from bears. Markets Buzz: Nifty Tests Decade-Old Support The Nifty is at risk of breaking below one of its most reliable technical cushions — the 100-week moving average — that has acted as a durable floor for more than a decade, barring the pandemic shock in 2020. The...
(RTTNews) - Asian stock markets are trading mostly lower on Monday, following the broadly negative cues from Wall Street on Friday, as traders remain concerned aver the outlook for the global economy amid the energy crisis in Europe and the report of fresh COVID-19 related lockdowns in China following new virus outbreaks, with the sixth-largest city Chengdu entering full lockdown. Asian markets cl...
(RTTNews) - Asian stock markets are trading mostly lower on Monday, following the broadly negative cues from Wall Street on Friday, as traders remain concerned aver the outlook for the global economy amid the energy crisis in Europe and the report of fresh COVID-19 related lockdowns in China following new virus outbreaks, with the sixth-largest city Chengdu entering full lockdown. Asian markets closed mixed on Friday. The Australian stock market is slightly higher in choppy trading on Monday, recouping some of the losses in the previous three sessions, with the benchmark S&P/ASX 200 staying above the 6,800 level, despite the broadly negative cues from Wall Street on Friday, with strength is mining and energy stocks amid a rebound in commodity prices. Traders also await the Reserve Bank of Australia's interest rate decision on Tuesday, with the RBA widely tipped to raise interest rates by another 50 basis points. The benchmark S&P/ASX 200 Index is gaining 4.40 points or 0.06 percent to 6,833.10, after touching a high of 6,858.00 earlier. The broader All Ordinaries Index is up 0.70 points or 0.01 percent to 7,057.00. Australian stocks closed modestly lower on Friday. Among the major miners, BHP Group and Fortescue Metals are gaining almost 2 percent each, while Mineral Resources is up almost 1 percent, Rio Tinto is adding 1.5 percent and OZ Minerals is edging up 0.2 percent. Oil stocks are mostly higher. Santos is gaining more than 2 percent, Beach energy is surging almost 5 percent, Origin Energy is adding almost 1 percent and Woodside Energy is advancing almost 3 percent. Among tech stocks, Xero is edging down 0.1 percent, Zip is down almost 1 percent, Afterpay owner Block is losing more than 3 percent and WiseTech Global is slipping 3.5 percent, while Appen and WiseTech Global are edging up 0.2 percent each. Gold miners are mostly higher, Gold Road Resources is gaining almost 4 percent, Evolution Mining is adding more than 3 percent, Newcrest Mining is up more than...
e-crow/iStock via Getty Images Daqo New Energy Corp. ( DQ ), a manufacturer of high-purity polysilicon for the solar photovoltaic or PV industry operating out of China, has lost more than a third of its market value in the last 4-5 months. Even the release of the Q4 FY2025 report was not able to stem the slide in the stock price. However, there are several reasons why, in spite of the stock’s decl...
e-crow/iStock via Getty Images Daqo New Energy Corp. ( DQ ), a manufacturer of high-purity polysilicon for the solar photovoltaic or PV industry operating out of China, has lost more than a third of its market value in the last 4-5 months. Even the release of the Q4 FY2025 report was not able to stem the slide in the stock price. However, there are several reasons why, in spite of the stock’s decline, now could be a good time to place bets on a turnaround, both in terms of the stock price and the company itself. Why DQ has solid long-term prospects DQ supplies high-purity polysilicon, which is the raw material the vast majority of solar panels are made of. The use of solar panels, in turn, has increased in recent years as it provides a relatively clean way and an increasingly more affordable way of generating electricity, especially to those that live in remote areas and do not have access to existing power grids for whatever reason. Solar panels themselves are constantly improving, and their ability to convert sunlight into electricity is becoming increasingly efficient. For these and other reasons, it is believed that demand for solar panels will increase over time, which means that there will be a greater need for the raw material to make them, something a manufacturer like DQ can take advantage of. However, solar panels are not perfect, as they do come with drawbacks. For instance, the ability to generate power from solar panels fluctuates throughout the day, depending on how much sunlight there is, which means that a backup power source is needed, like batteries. Another is that the use of solar panels is influenced by the cost of competing sources of energy production. If those become less expensive, then that could affect demand for solar power since consumers may not want to put up with the disadvantages of solar panels when alternatives make more sense. The reverse is also true. This also means the recent events in Iran could have an impact on DQ since they...