The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0713 GMT - Frencken Group appears to be entering a stronger growth phase, with a potentially stronger 2H performance likely to extend into 2027, says DBS Group Research's Lee Keng Ling in a note. The Singapore semiconductor-tool maker's 2Q profit gained 12% on year due to stronger demand for semiconductors, medical equipment and industrial automation, she says. The company's outlook is growing brighter as customer demand strengthens amid the rising semiconductor cycle, the analyst adds. Capacity expansion, organic growth and selective merger-and-acquisition deals should push Frencken to reach its 1.0 billion Singapore dollar revenue target by 2028 or earlier, she adds. DBS maintains its buy rating and S$3.76 target price. Shares are down 5.7% at S$2.63. (megan.cheah@wsj.com)
0702 GMT - Bitcoin falls as an ongoing stalemate in the U.S.-Iran conflict lifts oil prices and reduces demand for risky assets. U.S. Defense Secretary Pete Hegseth told reporters Thursday the U.S. could maintain its blockade of Iranian ports indefinitely because the U.S. can rotate ships in and out. "Our concern still remains that there is no easy way out of the current crisis," Jefferies economist Mohit Kumar says in a note. Iran won't give up control over the Strait of Hormuz and the U.S. won't accept Iran charging tolls through the shipping route, he says. Iran has time on its side and has a higher tolerance of economic pain, he says. Bitcoin falls 0.4% to $63,140, LSEG data show. (renae.dyer@wsj.com)
0654 GMT - The dollar falls as recent U.S. data dampen the prospect of the Federal Reserve raising interest rates while Treasury yields rise as oil prices gain. Last week's weak labor market data combined with this week's subdued consumer and wholesale inflation data have prompted markets to trim U.S. rate-hike bets. Oil prices rise after the U.S. threatened to maintain a naval blockade of Iran indefinitely. Meanwhile, an auction of 30-year Treasurys on Thursday resulted in the highest yield since 2001, highlighting U.S. fiscal concerns. The DXY dollar index falls 0.1% to 99.854. The 30-year Treasury yield rises 1.7 basis points to 5.228% while the 10-year equivalent rises 1.8 basis points to 4.659%, Tradeweb data show.
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