Nigeria is expanding its stock trading hours after FTSE Russell announced the country's equities will rejoin the frontier markets index later this year. The move aims to boost liquidity and attract foreign investment, signaling Nigeria's growing importance in emerging markets. The change is expected to take effect in the coming months, supporting Nigeria's economic development.
Randa Slim of Johns Hopkins University stated that Iran can sustain its current conflict for several months, highlighting the ongoing tension between Iran and the US. The remarks come amid recent discussions about potential peace talks in Islamabad, with no immediate resolution in sight. The situation underscores the prolonged nature of the conflict and the uncertain prospects for diplomatic breakthroughs in the near term.
Oil and gas prices surged following the US Navy's seizure of an Iranian-flagged cargo ship in the Gulf of Oman on April 19, 2026. President Donald Trump confirmed the incident, stating the ship was fired upon and seized after ignoring warnings to stop while leaving the Strait of Hormuz. The event has heightened geopolitical tensions and impacted global energy markets.
Viva Energy Group Ltd.'s Geelong refinery in Australia is expected to increase fuel output to about 90% of capacity within weeks, following a major fire that previously reduced production. The refinery produces diesel, jet fuel, and gasoline, and the company aims to restore operations to near-normal levels soon. The incident impacted fuel supply, prompting recovery efforts.
Viva Energy Group Ltd. announced that its Geelong refinery in Australia will increase production to about 90% of capacity within weeks, following a major fire that previously reduced output. Shares of Viva Energy declined as the company works to restore refinery operations, which produce diesel, jet fuel, and gasoline. The refinery's full recovery is expected to support local fuel supply stability.
The Philippine central banker has urged banks to promote foreign exchange hedging more actively amid heightened geopolitical risks, particularly due to the Iran conflict. The move aims to protect companies from currency volatility, emphasizing the country's increased vulnerability to external shocks. The call highlights ongoing efforts to strengthen financial resilience in the face of geopolitical uncertainties.
Asian defense stocks are gaining investor interest amid a global arms buildup driven by the Iran war. Bank of America and Jupiter see potential upside for these stocks, viewing the sector as a long-term growth opportunity rather than a short-term trade. The renewed focus reflects broader geopolitical tensions and increased defense spending in the region.
