Wrap Europe

ALOY's valuation hinges on its mine-to-magnet buildout, bypassing China. Buy rating with $35 target.

Iran has just 12 to 22 days of unused crude storage remaining, with exports down 70% under the U.S. naval blockade and a further 1.5 million bpd output cut possible by mid-May, Kpler says.

GEV drops 3.2% on downgrade; wind segment losses widen. YTD return still strong at 63.5%.

PBOC sets USD/ CNY reference rate for today at 6.8589 (vs. estimate at 6.8282)

China blocks Meta's $2B AI deal, raising regulatory risks for tech valuations.

FIX beats revenue/EPS estimates with 56% YoY growth, but backlog surge faces labor/regulatory risks.

Oil prices jump as Strait of Hormuz remains shut. Brent hits $108.68, WTI $96.96 amid stalled US-Iran talks.