Market Overview - Indian equities ended lower, with the S&P BSE Sensex falling 465.75 points (0.55%) to close at 83,938.71 and the NSE Nifty 50 slipping 155.75 points (0.60%) to end at 25,722.10, marking a second consecutive day of losses [1][13] - The decline was attributed to profit booking amid mixed corporate earnings and cautious global sentiment, influenced by a stronger U.S. dollar and the Federal Reserve's tempered stance on rate cuts [2][13] Sector Performance - Most sectors closed in the red, pressured by renewed Foreign Institutional Investor (FII) selling, particularly after comments from Federal Reserve Chair Jerome Powell [13] - However, Public Sector Undertaking (PSU) banks outperformed due to expectations of increased Foreign Direct Investment (FDI) limits and better Q2 results [13] Technical Analysis - The Nifty index remained weak, failing to sustain above 25,950, with support at 25,800 being broken, indicating a bearish trend [8][14] - Short-term projections suggest a potential decline towards 25,525, while resistance is noted at 25,850, above which the trend may turn positive [8][14] Active Stocks - Most active stocks by turnover included Chennai Petro (Rs 3,287 crore), Navin Fluorine (Rs 2,990 crore), and HDFC Bank (Rs 2,297 crore) [9][14] - In terms of volume, Vodafone Idea led with 77.92 crore shares traded, followed by YES Bank and Sagility India [10][14] Market Sentiment - Market sentiment was bearish, with 2,436 out of 4,309 stocks on the BSE witnessing declines, while only 1,722 saw advances [13][14] - A total of 136 stocks reached their 52-week highs, while 66 stocks hit their 52-week lows, indicating mixed performance across the market [11][14]

Core Insights - The company reported a significant decline in revenue for Q3 2025, with a 24% decrease at constant scope and exchange rates, totaling 630 million euros [1][3] - For the first nine months of 2025, revenue also fell by 10% at constant scope and exchange rates, amounting to 2,177 million euros [2][3] Revenue Analysis - **Q3 2025 Revenue Breakdown**: - Bolloré Energy: 530 million euros, down 25% due to falling petroleum product prices and decreased sales volumes [4] - Industry: 73 million euros, down 21%, primarily from a decline in BlueBus business activity despite growth in the Films sector [4] - Total revenue for Q3 2025 was 630 million euros, down 22% compared to Q3 2024 [3] - **First Nine Months of 2025 Revenue Breakdown**: - Bolloré Energy: 1,867 million euros, down 10%, influenced by falling prices but supported by increased trading volumes [5] - Industry: 229 million euros, down 17%, affected by reduced BlueBus activity and downturn in Specialized Terminals, despite Films business growth [5] - Total revenue for the first nine months was 2,177 million euros, down 7% compared to the same period in 2024 [2][3] Recent Developments - The company continued its share repurchase program, acquiring shares worth 22 million euros, representing 0.23% of its share capital [7]

Market Performance - The Tel Aviv Stock Exchange experienced a decline, with the Tel Aviv 35 Index falling by 0.99% to 3,176.41 points, the Tel Aviv 125 Index decreasing by 0.98% to 3,249.61 points, and the BlueTech Global Index dropping by 0.97% to 579.01 points [1] - The All Bond corporate bond index saw a slight decrease of 0.02% to 418.33 points, with total turnover amounting to NIS 2.89 billion in equities and NIS 5.57 billion in bonds [1] Foreign Exchange Rates - The shekel-dollar exchange rate was set 0.664% lower at NIS 3.289/$, while the shekel-euro rate decreased by 0.951% to NIS 3.821/€ [2] Banking Sector Performance - Bank Hapoalim led the market decline, falling by 1.54% with the highest trading turnover, followed by Bank Leumi down 1.19%, Mizrahi Tefahot Bank down 1.70%, and Israel Discount Bank down 1.92% [2] Individual Stock Movements - Navitas Petroleum LP recorded the largest decline on the Tel Aviv 35 Index, falling by 4.06%, while Ormat Technologies Inc. and Teva Pharmaceutical Industries Ltd. fell by 2.85% and 0.44% respectively [3] - Clal Insurance Enterprise Holdings saw the largest increase on the Tel Aviv 35 Index, rising by 3.81%, with Phoenix Financial up 1.27% and Menora Mivtachim up 0.87% [3]

Core Viewpoint - Toronto-listed miner Gold Reserve has accused firms advising a U.S. court on the auction of Citgo Petroleum's parent of receiving approximately $170 million in fees from a bidder that was recommended as part of the auction process [1] Group 1 - Gold Reserve claims that the advisory firms have a conflict of interest due to the substantial fees received [1] - The accusation raises concerns about the integrity of the auction process for Citgo Petroleum's parent company [1] - The situation highlights potential issues in the governance and oversight of large asset auctions [1]

Market Overview - U.S. equities experienced a significant rebound on October 13, 2025, recovering from substantial losses due to improved investor sentiment following President Trump's softened trade rhetoric towards China [1][3] - Major U.S. stock indexes, including the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average, all posted robust gains in afternoon trading, with the S&P 500 up 1.6%, Nasdaq up 2.1%, and Dow up 1.3% [2] Sector Performance - The technology sector led the market recovery, with the Technology Select Sector SPDR (XLK) showing significant gains, while other sectors such as Materials (XLB), Energy (XLE), Consumer Discretionary (XLY), Communication Services (XLC), Financial (XLF), and Industrial (XLI) also registered advances [4] - The Consumer Staples Select Sector SPDR (XLP) was the only sector in negative territory, down approximately 0.22%, as investors shifted towards more cyclical sectors [5] Upcoming Market Events - The U.S. earnings season is set to begin, with major banks like JPMorgan Chase scheduled to report quarterly results, alongside other notable companies such as Johnson & Johnson and United Airlines [6] - The ongoing U.S. government shutdown is delaying the release of key economic data, including inflation figures and retail sales data, which could introduce uncertainty for the Federal Reserve's monetary policy decisions [7] Corporate Developments - Broadcom shares surged approximately 10% following a collaboration announcement with OpenAI to design custom AI accelerators, highlighting strong investor interest in the AI sector [12] - Other chipmakers, including Advanced Micro Devices and Micron Technology, also saw gains of 3.4% and 4.9% respectively, while Nvidia gained close to 3% [12] - Fastenal shares fell between 4.8% and 6.4% after reporting third-quarter profits that narrowly missed analysts' expectations [12] - HCL Technologies is set to announce its Q2 FY26 results, with investors focused on management's commentary regarding deal pipelines and demand outlook [12] - Avenue Supermarts reported a steady Q2 FY26 performance, with a nearly 4% year-on-year increase in consolidated net profit and a 15.5% rise in revenue [12] - Bharat Petroleum Corporation Limited announced a strategic partnership with Reliance BP Mobility Ltd to expand its city gas distribution and compressed natural gas network [12]

Core Insights - ClearSign Technologies Corporation (CLIR) has secured an initial CFD and engineering order from a leading global refining company for the installation of 32 ClearSign Core burners at a California refinery, marking the first phase of a process heater retrofit [1][10] - The project is expected to commence imminently and will be executed in phases over the next 15 to 18 months [2][10] Recent Orders - In late September, ClearSign Technologies received an order from a major petrochemical customer for process burner testing services, which will demonstrate the operating range and robustness of its burners [3] - The testing process is anticipated to be completed by the fourth quarter of 2025, with the customer evaluating the technology for potential future deliveries at multiple facilities [4] Additional Engineering Orders - On September 17, ClearSign Technologies announced an initial engineering order for the installation of 36 ClearSign Core burners at a U.S. Gulf Coast refinery, indicating growing momentum for its technology in the petroleum industry [5][6] - The project will be executed in multiple phases, with the final delivery of the burners expected in the second half of 2026 [7] Financial Performance - In Q2 2025, ClearSign Technologies reported an adjusted loss of 3 cents per share, which was narrower than the Zacks Consensus Estimate of a loss of 4 cents, and an increase in revenues to $0.13 million from $0.04 million in the year-ago quarter, although it missed the consensus estimate of $1 million [8] Stock Performance - ClearSign Technologies' shares have increased by 10.8% over the past year, outperforming the industry growth of 9% [9]

Core Insights - Nigeria's oil rig count has increased significantly from eight in 2021 to 69, representing a 762.5% rise over four years, indicating a resurgence in the oil and gas sector [1] - The NUPRC expects further growth due to a policy review that identified 400 dormant oilfields, encouraging previously inactive operators to engage [2] - The NUPRC has achieved revenue targets exceeding expectations for three consecutive years, with increases of 18.3%, 14.65%, and 84.2% in 2022, 2023, and 2024 respectively [3] Investment and Production - A potential investment of $39.98 billion (N58.59 trillion) has been noted from 79 approved field development plans (FDPs) for 2024 and 2025, aimed at boosting crude oil production [4] - The average daily crude oil production is currently at 1.65 million barrels per day (mbbl/d), with an initiative to increase this to 2.5 mbbl/d by 2027 [4] Regulatory and Operational Developments - The NUPRC has implemented the Drill or Drop policy to optimize oil asset usage and prevent dormant fields from occupying potential reserves [5] - Since 2022, the NUPRC has overseen the drilling and completion of 306 development wells and issued Nigeria's first petroleum exploration license for a significant offshore survey [6] - Daily crude oil losses have been reduced by 90%, from 102,900 barrels per day (bpd) in 2021 to 9,600 bpd [6] Regional Collaboration - The NUPRC has established the African Petroleum Regulators Forum to promote cross-border development and a unified African voice in global hydrocarbon advocacy [7]

Market Overview - The U.S. stock market finished higher on Thursday, with the Dow Jones Industrial Average up nearly 0.2% to 46,519.72, the S&P 500 adding 0.06% to 6,715.35, and the Nasdaq climbing about 0.4% to 22,844.05 [1] Company Highlights - **SoundHound AI Inc. (NASDAQ:SOUN)**: Shares surged by 10.46%, closing at $17.84, with an intraday high of $18.39 and a low of $16.45. The 52-week range is $24.98 to $4.56. The company gained recognition as a leader in IDC MarketScape's assessment of conversational AI platforms, attracting renewed investor interest due to strong revenue momentum [2][1]. - **IonQ Inc. (NYSE:IONQ)**: Stock rose by 10.32%, closing at $69.60, reaching an intraday peak of $69.60 and a low of $64.41. The 52-week high is $76.13 and the low is $8.79. Investors are monitoring IonQ as it pulls back from recent highs, potentially entering a favorable buying zone [3][1]. - **Occidental Petroleum Corp. (NYSE:OXY)**: Stock fell by 7.31%, closing at $44.23, with an intraday high of $47.92 and a low of $43.84. The 52-week range is $56.49 to $34.78. The company is reportedly considering selling its OxyChem division to Berkshire Hathaway in a deal valued at approximately $10 billion, which could streamline operations [4][1]. - **Ondas Holdings Inc. (NASDAQ:ONDS)**: Saw a significant rise of 25.99%, closing at $9.21, with an intraday high of $9.34 and a low of $7.66. The 52-week high is $9.34 and the low is $0.57. The surge followed the announcement of a major purchase order for Wåsp drones, marking its entry into the U.S. defense market [5][1]. - **Tesla Inc. (NASDAQ:TSLA)**: Stock declined by 5.11%, closing at $436, with an intraday high of $470.75 and a low of $435.57. The 52-week high is $488.54 and the low is $212.11. The decline is attributed to a significant drop in car sales in Italy, which fell by over 25.6% in September, and concerns over expiring Federal EV credits [6][1].

Core Insights - Berkshire Hathaway Inc. has signed an agreement to acquire Occidental Petroleum Corporation's petrochemical subsidiary, OxyChem, for approximately $9.7 billion in cash [1][2] - The transaction is expected to close in the fourth quarter of 2025 and will be Berkshire's largest deal since its $13.7 billion acquisition of Alleghany Corp. in 2022 [2] - OxyChem specializes in producing essential chemicals such as chlorine, sodium hydroxide, and PVC resins, generating roughly $5 billion in revenue over the past 12 months [3] Company Developments - Occidental Petroleum, 27% owned by Berkshire, is actively deleveraging after significant acquisitions, including a $55 billion purchase of Anadarko in 2019 [4] - The company currently has $24 billion in debt, down from nearly $49 billion post-Anadarko, and plans to use $6.5 billion from the OxyChem sale to further reduce this debt [4] - Occidental has executed nearly $4 billion in divestments since early 2024, indicating a strategic shift towards simplifying its portfolio and enhancing capital returns to shareholders [5] Industry Context - The acquisition of OxyChem marks a significant move in the petrochemical sector, as it is expected to be one of the largest standalone petrochemical transactions globally, valued near $10 billion [2] - The deal comes amid industry challenges, including oversupply and shrinking margins, leading Occidental to close a chapter in its decades-long chemicals business [6] - The acquisition strengthens Berkshire Hathaway's ties with Occidental, as the firm has been gradually increasing its equity stake in the company [5]

Group 1 - East West Petroleum Corp. has completed the capital reduction and special distribution as previously announced [1] - The company will proceed with the name change from "East West Petroleum Corp." to "East West Minerals Ltd." and a share consolidation on a ten-for-one basis, expected to be implemented around October 6, 2025 [2]