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European Stocks Fall in Monday Trading After US-Iran Peace Talks Collapse

-- European stock markets fell in Monday trading following President Donald Trump's threat to block the Strait of Hormuz after US-Iran peace talks collapsed.

The Stoxx Europe 600, Germany's DAX 40 and the FTSE 100 each lost 0.2%, France's CAC 40 fell 0.4%, and the Swiss Market Index declined 0.3%.

With the prospect of a peace deal dimmed, defense stocks climbed. Dassault Systemes rose 3.6% and Thales gained 2.4% in Paris, while BAE Systems advanced 2.6% in London, and Rheinmetall added 2.5% in Frankfurt.

In corporate news, TotalEnergies signed a memorandum of understanding with Turkey's state energy company TPAO to pursue exploration opportunities.

Shares of the French oil and gas company rose 1.3% in Paris.

Lloyds Banking Group is "moving forward" with the UK Financial Conduct Authority's motor finance redress scheme.

Shares of the British bank fell 0.4% in London.

GSK said Sunday a phase I clinical trial for the mocertatug rezetecan antibody-drug conjugate showed that the monotherapy achieved a confirmed objective response rate of 62% in platinum-resistant ovarian cancer at the highest doses evaluated.

The study also showed a response rate of 67% in recurrent or advanced endometrial cancer.

Shares of the pharmaceutical company eased 0.3% in London.

BP's Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from Eco Atlantic.

Shares of BP gained 1% in London.

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Petro Rabigh Emerges From Loss in Q1; Revenue Grows

Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, said Sunday it swung back to profit in the first quarter of 2026, while revenue increased year over year.Net profit attributable to shareholders of the issuer for the three months ended March 31 was 1.47 billion Saudi riyals, compared with the attributable loss of 691 million riyals earlier. EPS moved to 0.88 riyal from a loss per share of 0.41 riyal.The Tadawul-listed oil refining and petrochemical company's revenue was 14.85 billion riyals, compared with 11.21 billion riyals a year ago.

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Research Alert: CFRA Keeps Buy Opinion On Shares Of The Hartford Insurance Group, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We trim our 12-month target price by $8 to $155, valuing HIG shares at 11.3x our 2026 operating EPS estimate of $13.75 (cut by $0.45) and at 10.6x our 2027 EPS estimate of $14.65 (cut by $0.30), vs. the shares' one-year average forward multiple of 10.3x and peer average of 13x. Q1 EPS of $3.09 vs. $2.20 a year ago missed our $3.60 estimate and $3.39 consensus view. Operating revenue growth of 6.2% was in line with our 6%-10% forecast, amid 5.3% earned premium growth, 13% higher net investment income, and 7.9% fee revenue growth. Q1 written premium growth of 4% and full-year 2025 growth of 7% bode well for 2026 revenue trends as premiums are earned. Underwriting results improved significantly, with Personal Lines combined ratio improving to 87.7% from 106.1% and underlying combined ratio to 85.0% from 89.7%. Business Insurance combined ratio was stable at 94.8%. Weighing the Q1 EPS miss with HIG's decent top-line growth and discounted valuation to peers, we view the shares as undervalued.

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Research Alert: CFRA Keeps Strong Buy Opinion On Shares Of Baker Hughes

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target price by $14 to $82, reflecting a combination of our sum-of-the-parts (SOTP) and DCF models. For our SOTP model, we presume the oilfield services business (about 50% of BKR's franchise) to be valued at about 10x projected 2027 EBITDA (in line with major peers) and its industrial energy technology business (the other 50%) valued at 14x projected 2027 EBITDA (in line with the peer median). This blended approach, yielding a 12x multiple, implies a value of $73 per share. Meanwhile, our DCF model, using medium-term free cash flow growth of 5% per year, terminal growth of 2.5%, discounted at a WACC of 6.3%, yields intrinsic value of $91 per share. We cut our 2026 EPS estimate by $0.47 to $2.48, but we raise 2027's by $0.07 to $3.24. We acknowledge that the oilfield services business is likely to struggle in 2026 owing to the U.S.-Iran conflict, but the IET business appears quite robust and likely to be a source of both accelerating revenue growth and margins.

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