5h ago
BASF lifts 2026 earnings outlook after Q2 sales rise to €17.2 billion
Germany’s BASF reported second-quarter 2026 results with sales of €17.2 billion, up €2.4 billion from a year earlier. EBITDA before special items came in at €2.4 billion, an increase of €854 million year on year, and was well above average analysts’ expectations. The company also raised its earnings outlook for full-year 2026. The figures point to a pickup in global chemicals demand alongside gains from tighter cost control.
5h ago
5h ago
Foreign investors return to South Korean stocks with record 7.2 trillion won single-day buying
Global investors are rebuilding positions in South Korean equities after July’s turbulence, with foreigners logging a record net purchase of 7.2 trillion won (around $5 billion) in a single session. Leveraged ETF assets tied to Samsung Electronics and SK Hynix shrank from nearly $50 billion in late June to about $17 billion, after volatility intensified. J.P. Morgan estimates hedge funds have completed around 90% of their deleveraging. The renewed inflows have supported South Korea’s main stock indexes and heavyweight technology shares.
5h ago
5h ago
Oil slides 5% and European stocks rise after Trump cancels planned Iran strikes
Donald Trump said he had called off planned military strikes on Iran, easing geopolitical tensions. Brent fell 5% to $83.50 a barrel after touching $81.55, while US West Texas Intermediate dropped more than $5 to $79.47. Both benchmarks had gained more than 20% in July amid renewed US-Iran fighting and tanker attacks in the Strait of Hormuz. The pan-European Stoxx 600 rose 0.4%, with energy stocks down 2% and travel and leisure shares up 2.1%.
5h ago
5h ago
Avaada closes about USD1.3bn financing for 2.15 GW renewables portfolio in India
Avaada Group has reached financial close for about USD1.3bn to develop a 2.15 GW renewable energy portfolio in Maharashtra and Gujarat. The portfolio includes 1.35 GW of hybrid wind-solar-storage projects and 800 MW of utility-scale solar. The projects will be implemented through four special purpose vehicles, with power sold to Maharashtra State Electricity Distribution Company Limited (MSEDCL) and Gujarat Urja Vikas Nigam Limited.
5h ago