$TRUMP
$XAU
JPMorgan Chase & Co. expects strong performance from European oil and gas in the third quarter
JPMorgan Chase & Co. expects an exceptional third-quarter earnings season for European oil and gas companies, led by refining. The bank favors shares of British giants Shell and BP, as well as Eni, while urging investors to be selective given the group’s outperformance.
Analysts led by Matthew Lofting wrote that “macro factors continue to outweigh micro factors,” as inventories across energy products and regions have fallen in a way that is difficult to ignore, while easing tensions in the Middle East remains a distant prospect. After adjusting estimates for forward price curves, the team sees a 2027 free cash flow yield of 10.90% at a Brent crude price of $85.00, with earnings per share exceeding analyst expectations by a mid-single-digit percentage on average.#FedMinutesFocusOnOctoberPause #EthereumSpotETFRecords$161MNetOutflows #EthereumSpotETFRecords$161MNetOutflows #IMFGrantsWaiverForElSalvadorBitcoinBreach
$XAU
JPMorgan Chase & Co. expects strong performance from European oil and gas in the third quarter
JPMorgan Chase & Co. expects an exceptional third-quarter earnings season for European oil and gas companies, led by refining. The bank favors shares of British giants Shell and BP, as well as Eni, while urging investors to be selective given the group’s outperformance.
Analysts led by Matthew Lofting wrote that “macro factors continue to outweigh micro factors,” as inventories across energy products and regions have fallen in a way that is difficult to ignore, while easing tensions in the Middle East remains a distant prospect. After adjusting estimates for forward price curves, the team sees a 2027 free cash flow yield of 10.90% at a Brent crude price of $85.00, with earnings per share exceeding analyst expectations by a mid-single-digit percentage on average.#FedMinutesFocusOnOctoberPause #EthereumSpotETFRecords$161MNetOutflows #EthereumSpotETFRecords$161MNetOutflows #IMFGrantsWaiverForElSalvadorBitcoinBreach