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BMO Sees $20 Billion Fiscal Upside For Oil Provinces On $100 WTI, Flags Wider Regional Gap

Bank of Montreal (BMO) looks at Canada's fiscal situation after the provincial budget season and ahead of Ottawa's mid-year update.All is now set against a backdrop of US$100/barrel oil, noted the bank.The two big oil-producing provinces locked in their budgets ahead of the conflict in Iran and associated surge in oil prices, and budget assumptions immediately look wildly"conservative," stated BMO.Alberta assumed US$60.50/barrel for WTI this fiscal year and Saskatchewan assumed US$59.80/barrel, while Newfoundland & Labrador still has to be tabled.At current levels for WTI, the light-heavy differential and the Canadian dollar (CAD or loonie), the bank could see upwards of $20 billion of revenue upside in those two provinces alone, swinging both well back into surplus.High oil prices will only add to the widening regional disparity in economic and fiscal performance in the country, according to BMO. The fiscal side of that might be the most "dramatic" reflection.

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Heineken Shifts to Brand-Licensing Model in Congo via Bralima Stake Sale

Heineken (HEIA.AS) divested its stake in Brasseries, Limonaderies et Malteries, or Bralima, as it pivots to a brand-licensing partnership to keep its presence in the Democratic Republic of Congo.The Dutch brewer said Friday it sold its interest in Bralima to Elna Holdings for an undisclosed amount. The Mauritius-based company will take full control of Bralima's operations, including production, distribution, workforce management and local stakeholder engagement.Established in 1923, Bralima manages three breweries in Kinshasa, Kisangani, and Lubumbashi. After the transaction is finalized, the business, which employs 731 people, will maintain operations at these locations.Meanwhile, through long-term licensing deals, Heineken ensures its brands, including Heineken, Primus, Turbo King, Legend and Mützig, will continue to be produced, marketed and distributed locally. The brewing company said the transaction is consistent with its EverGreen 2030 strategy, which prioritizes active portfolio management and continued refinement of its international operational footprint."This step allows [Bralima] to continue under a locally anchored model, while ensuring that our brands remain available to consumers across the country. It also reflects our move towards a more asset-light approach in selected markets," Guillaume Duverdier, Heineken's president for Africa and the Middle East region, said.By Friday midday, the Amsterdam-listed stock was 1% higher.

$HEIA.AS

US Markets13d ago

WD-40 Maintains Fiscal 2026 Outlook Despite Potential Impact of Middle East War

WD-40 (WDFC) reiterated its full-year outlook despite the potential impact from the Middle East conflict, while the maker of lubricants and cleaning products recorded year-over-year gains in its fiscal second-quarter results.The company continues to project per-share earnings to come in between $5.75 and $6.15 for fiscal 2026, it said late Thursday, while three analysts polled by FactSet are looking for $6.04. Sales are still pegged at $630 million to $655 million, after adjusting for foreign-currency impacts, compared with the $658.2 million consensus based on the same number of analysts."While geopolitical developments in the Middle East and their potential impact on the global economy warrant caution, we are encouraged by the momentum in the business," Chief Financial Officer Sara Hyzer said during an earnings call, according to a FactSet transcript. "We have clear visibility in promotional activity in the US, and are seeing improving momentum in both (Europe, India, the Middle East and Africa) and Asia-Pacific."Earlier in the week, the US and Iran agreed to a two-week ceasefire, but Tehran later accused Washington of breaching certain elements of the truce. The war started at the end of February, sending energy prices soaring amid the closure of the crucial Strait of Hormuz.The conflict has contributed to the increased costs of certain petroleum-based specialty chemicals, which are expected to increase the company's costs of products sold, Hyzer said on the call. "The duration of this conflict and its impact on our raw materials will drive our decisions around mitigation efforts, which we are currently assessing," according to Hyzer.Hyzer said WD-40 is advancing in its process to sell its American homecare and cleaning brand. In the fourth quarter of fiscal 2025, the firm completed the sale of its homecare and cleaning portfolio in the UK.If the company isn't able to divest the Americas homecare and cleaning brand, it expects its full-year EPS and sales guidance to be positively impacted by $0.20 a share and about $12.5 million, respectively, the CFO added.For the three-month period ended Feb. 28, adjusted EPS climbed 14% to $1.50. Sales inclined 11% on a yearly basis to $161.7 million. Revenue from maintenance products grew 13% to $156.8 million, while homecare and cleaning sales dropped 29% to $4.8 million."We capitalized on strong momentum in the second quarter," Chief Executive Steve Brass said in the earnings release. "Maintenance products remain our core strategic focus, and sales of these brands grew 6% in constant currency in the second quarter in line with our long term growth expectations."Sales grew across all regions, led by a 19% jump in Asia Pacific, WD-40 said.

$WDFC

US Markets13d ago

South Korea Keeps Rate Steady at 2.50%

South Korea kept its monetary interest rates unchanged as the Middle East conflict brought more pressure on inflation and risks to economic growth.The Bank of Korea decided to leave the base rate steady at 2.50%, according to a Friday disclosure from the central bank.The decision was in line with ING's prediction that rates would be unchanged. In an April 2 note, ING analysts Lynn Song and Min Joo Kang said strong demand for chips helped offset the effect of commodity supply constraints, while government measures are mitigating the effects of the oil price shocks that could trigger inflation higher."The currently available information suggests that the global economy has continued its relatively favorable growth trend, supported by AI-related investment and fiscal expansion in major economies," the central bank said in a press release. "However, growth is expected to weaken and inflation to increase, affected by energy price hikes and supply constraints stemming from the war in the Middle East."The BoK forecasted that inflation is likely to rise to between the mid- and upper- 2% range due to global oil price hikes.Consumer price inflation in March increased to 2.2% from the previous month's 2%, while short-term inflation expectations among the general public moderately climbed to 2.7%, the BoK said.The U.S. and Iran only recently reached an 11th-hour deal to a two-week ceasefire after President Donald Trump threatened Tehran to wipe it out unless the Strait of Hormuz is reopened. The impact of the ceasefire is yet to be seen, especially since a longer-term peace treaty seemed uncertain.ANZ said that the policy messaging from BoK did not signal imminent tightening as Governor Rhee Chang-yong said it is "premature to discuss a rate hike" amid uncertainty on the duration of the war in Iran and the scale of its impact."The BoK continues to retain optionality, with any rate hike likely conditional on the price shock proving persistent and materially lifting inflation expectations," ANZ Asia Economist Krystal Tan said.ANZ maintains its stance that the BoK will add 25 basis points to its rate in the second half of the year.

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BMO Sees $20 Billion Fiscal Upside For Oil Provinces On $100 WTI, Flags Wider Regional Gap

Brent Crude Up 0.5% at US$96.40 and NY Crude Up 0.7% at Near US$98.60

Heineken Shifts to Brand-Licensing Model in Congo via Bralima Stake Sale

BMO Sees $20 Billion Fiscal Upside For Oil Provinces On $100 WTI, Flags Wider Regional Gap

Brent Crude Up 0.5% at US$96.40 and NY Crude Up 0.7% at Near US$98.60

Heineken Shifts to Brand-Licensing Model in Congo via Bralima Stake Sale

Nasdaq 100 and S&P Futures Both Flat To Slightly Higher Ahead of U.S. and Iran Peace Talks Tomorrow, US CPI Data Today

WD-40 Maintains Fiscal 2026 Outlook Despite Potential Impact of Middle East War

Indonesian Consumer Confidence Declines in March

Japan Producer Prices Edge Higher in March

South Korea Keeps Rate Steady at 2.50%

A-Sonic Aerospace Buys Back More Shares

ASTI to Cease Quarterly Reporting Following Clean Audit Report

Hing Yip Unit to Buy to Lease Back Assets

OSG's Net Income Soars 93% in Fiscal Q1

Ase Technology Holding Co. Insider Sold Shares Worth $10,399,500, According to a Recent SEC Filing

Sea Insider Sold Shares Worth $1,698,723, According to a Recent SEC Filing

Sea Insider Sold Shares Worth $15,465,954, According to a Recent SEC Filing

NY Crude Up 0.9% at Near US$98.75

U.S. Natural Gas Prices Fell in Week Ended April 8 Amid Above-Average Temperatures, EIA Reports

S&P Futures Flat Ahead of U.S. and Iran Peace Talks Tomorrow, US CPI Data Today

WTI Crude Oil Futures Rise 0.9% to $98.70 Pre-Bell; Brent Futures Climb 0.7% to $96.61

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