FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: BP, Repsol Face EU Competition Complaint From Spanish Fuel Wholesaler

By

-- BP (BP) and Repsol have been accused of anti-competitive practices in a complaint filed with the European Commission by Spanish fuel wholesaler Hatta Energy, Bloomberg reported Friday.

The complaint alleges "coordinated corporate behaviors" among major oil firms and state-backed actions that restrict competition in Spain's fuel distribution market, according to the report.

The complaint also names Moeve and infrastructure operator Exolum, alongside the Spanish state, the report said.

Hatta Energy also said it faces issues due to tax classification rules that require upfront payments on fuel withdrawals from storage, which some competitors are exempt from, Bloomberg reported.

BP, Repsol and Moeve did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Asia

Axis Bank's Consolidated Net Profit Rises in Fiscal Q4; Shares Down 3%

Axis Bank (NSE:AXISBANK, BOM:532215) consolidated net profit increased to 76.0 billion Indian rupees in the quarter ended March 31, against 74.8 billion rupees a year ago, according to a Saturday filing to the Indian stock exchanges.The banks' shares were down over 3% in Monday's trade.Earnings per share climbed to 24.33 rupees compared with the year-ago figure of 24.01 rupees.Interest earned by the lender in fiscal Q4 also grew year on year to 341.7 billion rupees from 324.5 billion rupees a year earlier.The board of directors recommended a dividend of 1 rupee per share for the financial year ended March 31.

$BOM:532215$NSE:AXISBANK
Research

Research Alert: CFRA Keeps Strong Buy Opinion On Shares Of Newmont Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our 12-month target price by $3 to $153, assuming an EV/EBITDA of 7.0x our 2027 EBITDA estimate, above NEM's three-year average forward EV/EBITDA of 6.5x and above peers' 6.0x. We raise our 2026 EPS estimate by $1.67 to $10.31 and our 2027 EPS forecast by $2.09 to $12.89. Newmont remains on track to deliver its 2026 guidance of 5.3 million gold ounces, though management characterizes 2026 as a trough year due to planned mine sequencing at several operations. The company is well-positioned for production growth beginning in 2027, with a longer-term outlook of approximately 6 million ounces of gold and 150,000 tonnes of copper annually. Key growth drivers include completion of Tanami Expansion 2 (2H 2027), ongoing development of Cadia panel caves, and the Ahafo North ramp-up. NEM's world-class portfolio, coupled with robust free cash flow generation in a supportive gold price environment, supports sustained capital returns through its enhanced capital allocation framework.

$NEM
Asia

Aye Finance's Consolidated Profit Jumps in Fiscal Q4; Shares Up 4%

Aye Finance's (NSE:AYE, BOM:544699) consolidated profit rose sharply to 859.1 million Indian rupees in the fiscal fourth quarter ended March 31, from 407.0 million rupees a year ago.The financial services company's earnings per share came in at 3.85 rupees from 2.09 rupees a year ago, according to a Monday filing to the Indian bourses.Revenue from operations in fiscal Q4 also increased to 5.28 billion rupees from 4.09 billion rupees a year ago.The company's shares were up over 4% in recent trade.

$BOM:544699$NSE:AYE