Europe’s energy sector has room to extend its outperformance versus the broader market as investors are only beginning to price in a structural shift in supply risks amid war in the Middle East, according to analysts at Morgan Stanley. Analysts led by Martijn Rats upgraded their stance on the sector to attractive from in-line. They said that while oil and gas price shocks stir inflation, tend to p...
Europe’s energy sector has room to extend its outperformance versus the broader market as investors are only beginning to price in a structural shift in supply risks amid war in the Middle East, according to analysts at Morgan Stanley. Analysts led by Martijn Rats upgraded their stance on the sector to attractive from in-line. They said that while oil and gas price shocks stir inflation, tend to push interest rates higher and are a headwind for economic growth and equities in general, they benefit energy stocks. That divergence has been visible since the start of war in Iran, with the Stoxx 600 down 8.6% while its energy sector sub-index has advanced 10% since the end of February. Morgan Stanley analysts, while cautioning that the move carries downside risks after the rally, see the macro backdrop continuing to favor the sector over other parts of the market. “The recent relative rally still has further to run,” the analysts wrote. “The market is only beginning to price a lasting change in energy security, effective spare capacity and the value of secure supply.” Morgan Stanley analysts upgraded BP Plc and Repsol SA to overweight, citing their stronger leverage to a higher-for-longer oil and gas environment and improved scope for shareholder returns as cash flows rise. They turned more cautious on more defensive stocks, with Shell Plc downgraded to equal-weight, reflecting more limited upside in a rising price environment.
Gabon is mobilizing $200 million from the likes of Bezos Earth Fund to help protect at least 30% of its terrestrial, fresh-water and marine ecosystems by 2030. Gabon is part of the Congo Basin that’s the biggest global green lung after the Amazon. The vast rain forest houses wildlife and fauna, including 60% of the remaining critically endangered forest elephants, according to the United Nations D...
Gabon is mobilizing $200 million from the likes of Bezos Earth Fund to help protect at least 30% of its terrestrial, fresh-water and marine ecosystems by 2030. Gabon is part of the Congo Basin that’s the biggest global green lung after the Amazon. The vast rain forest houses wildlife and fauna, including 60% of the remaining critically endangered forest elephants, according to the United Nations Development Programme. The Nature Conservancy is leading the fundraising effort that includes the World Wildlife Fund , the Pew Charitable Trusts and ZomaLab, according to Ademola Ajagbe, its managing director for Africa. Three years ago, the Nature Conservancy helped arrange a $500 million debt-for-nature swap with Bank of America Corp. to refinance a portion of Gabon’s debt and raise money for marine conservation, the first such transaction on continental Africa. The technical details of the new funding pact known as Gabon Infini PFP have been concluded and presented to Gabon’s government, and now await the final signing, Ajagbe said. “A letter of intent to advance the Gabon Infini PFP has been signed,” he said, adding that the Nature Conservancy has contributed money into an independent trust fund that will manage the money raised. The funding will boost conservation efforts in Gabon, one of the few countries that is a net carbon sink, absorbing more carbon dioxide from the atmosphere than it releases. The West African nation is one of the most forested countries globally, with almost 90% of its surface area covered by rain forests, according to the UNDP. The value of Gabon’s forest-ecosystem services almost doubled in the two decades to 2020 to $75.1 billion, mainly through carbon-retention services, according to a World Bank economic report published in June. TNC Plans $500 Million of African Debt Swaps, Reuters Says Gabon Wraps Up $500 Million Debt-for-Nature Swap Gabon Wants to Pioneer Funding Model to Protect Africa’s Amazon Climate Finance Is Failing the World’s Las...
stockbusters/iStock via Getty Images Planet Labs Germany ( PL ) has begun recruiting highly skilled German talent to operationalize its upcoming satellite manufacturing facility in Berlin, the company said on Wednesday, sending shares 3% higher premarket. This recruitment phase marks an important milestone in Planet’s strategic expansion of its European manufacturing footprint, the company said, a...
stockbusters/iStock via Getty Images Planet Labs Germany ( PL ) has begun recruiting highly skilled German talent to operationalize its upcoming satellite manufacturing facility in Berlin, the company said on Wednesday, sending shares 3% higher premarket. This recruitment phase marks an important milestone in Planet’s strategic expansion of its European manufacturing footprint, the company said, adding that these positions include high-level leadership and specialized technical roles essential to the facility’s success, including director of manufacturing, mission director for constellation services, and multiple engineering roles. With hiring beginning in 2026, Planet ( PL ) is expected to add up to 70 new employees to its existing team of about 150 in Berlin . The Berlin facility will double production of the next-generation Pelican fleet, boost Germany’s role in advanced aerospace, and improve Europe’s access to AI-powered Earth observation, the company said. More on Planet Labs You're Up 150% On Planet Labs, What To Do Now? Planet Labs PBC (PL) Q4 2026 Earnings Call Transcript Planet Labs Crushes Earnings, But Risk Is Rising Sector winners from the Iran war: Energy, chemicals, satellites and cyber Planet Labs jumps 21% on earnings beat, strong backlog and outlook
Ministers will publish review by Philip Rycroft, which will make recommendations relevant to all the political parties, today Good morning. In December the government announced that Philip Rycroft, a former permanent secretary at the Brexit department, will lead a review into foreign financial interference into UK politics. The review is being published today, and it will include recommendations t...
Ministers will publish review by Philip Rycroft, which will make recommendations relevant to all the political parties, today Good morning. In December the government announced that Philip Rycroft, a former permanent secretary at the Brexit department, will lead a review into foreign financial interference into UK politics. The review is being published today, and it will include recommendations that we’re told the government will implement as a priority. The review will make recommendations relevant to all the political parties, but no one in government is trying very hard to pretend that one party in particular isn’t the main focus. Rycroft was hired for the job soon after Nathan Gill, the former Reform UK leader in Wales, was sentenced to 10 and a half years in jail for taking bribes to spout pro-Russian propaganda. Nigel Farage, the Reform UK leader, dismissed Gill as a one-off bad apple, but other Brexit party MEPs gave pro-Russian speeches similar to Gill’s. Reform UK is the Brexit party under a new name. Continue reading...
Kathrin Ziegler/DigitalVision via Getty Images Summary I downgraded to a hold rating for H World Group ( HTHT ) in my last update because valuation was no longer attractive. Unlike my previous update, I am now upgrading to buy, as HTHT's earnings are now scaling much faster than I expected. RevPAR in Legacy-Huazhu has also turned positive, hotel openings remain very strong, and Legacy-DH is no lon...
Kathrin Ziegler/DigitalVision via Getty Images Summary I downgraded to a hold rating for H World Group ( HTHT ) in my last update because valuation was no longer attractive. Unlike my previous update, I am now upgrading to buy, as HTHT's earnings are now scaling much faster than I expected. RevPAR in Legacy-Huazhu has also turned positive, hotel openings remain very strong, and Legacy-DH is no longer just a drag. Earnings results update In the latest quarter ( 4Q25 ), HTHT grew total revenue by 8.3% y/y, beating management guidance of 2% to 6% y/y growth. Total revenue saw RMB6.5 billion, with leased and owned hotel revenue contributing RMB3.3 billion, M&F contributing RMB3 billion, and other revenue with RMB236 million. Revenue growth was rather broad-based across segments. Legacy-Huazhu [HZ] was up 9.1% y/y, while Legacy-DH revenue was up 5.3% y/y. In Legacy-HZ, ADR was RMB288 vs. RMB277 last year, occupancy was slightly lower at 78.4% vs. 80%, and blended RevPAR was higher at RMB226 vs. RMB222. In Legacy-DH, ADR was EUR120 vs. EUR115 last year, occupancy was higher by 210 bps y/y at 72.6%, and blended RevPAR was also higher at EUR87 vs. EUR81. The flow through from the topline to earnings was solid this quarter. HTHT had an EBIT margin of 29.1% in Q4 2025 versus 15% in Q4 2024, and that drove adj. EBITDA to RMB2.2 billion (almost double the RMB1.2 billion a year ago). RevPAR has turned Bloomberg One of the most important developments here is that RevPAR growth has turned positive for Legacy-HZ. This negative RevPAR growth has been a drag on the stock narrative as it implies demand is not as strong. But with HTHT's reported RevPAR in Legacy-HZ turning positive, with blended RevPAR growing to RMB226, it shows that HTHT can actually drive organic RevPAR growth with self-help measures. Some of the measures include better revenue management, stronger sales and marketing execution, and upgrades in products and services. Broadly, the key takeaway I got was that if the i...