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Big banks return to CRE lending as sector shows signs of stabilization
Edgen Stock·Jul 24 2026, 02:00Share to
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[1] Big Banks Are Wading Back Into Commercial Real-Estate Lending (https://www.wsj.com/finance/banking/big-banks ...)[2] Earnings call transcript: Dime Commercial posts record Q2 2026 revenue (https://za.investing.com/news/transcripts/ear ...)[3] Earnings call transcript: Western Alliance tops revenue estimates in Q2 2026 (https://ca.investing.com/news/transcripts/ear ...)
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Jul 24 2026, 03:33
Teck Resources Q2 profit triples to $854M on record copper prices
Teck Resources reported Q2 net profit of $854 million, tripling from a year earlier on record copper prices and higher production. The Vancouver-based miner benefited from copper prices that reached all-time highs during the quarter, while production volumes increased across its operations, executives said on the company's earnings call Thursday. Cost improvements across both the copper and zinc segments further boosted profitability, the company said. The results beat analyst estimates. Teck did not disclose revenue or earnings per share figures in its preliminary release. Copper production rose during the quarter, contributing to the sharp earnings increase, while the zinc business also delivered improved performance. The strong quarter marks a milestone in Teck's transition toward a pure-play copper producer after selling its steelmaking coal business. Copper demand is expected to grow as electrification and AI infrastructure buildout accelerate, supporting prices. Investors will watch for updated production guidance and cost targets in the company's upcoming regulatory filings. This article is for informational purposes only and does not constitute investment advice.
Jul 24 2026, 03:29
Cathay Pacific flags H1 profit surge to HK$6.5B, beating estimates
Cathay Pacific Airways (0293.HK) expects H1 attributable profit of as much as HK$6.5 billion, nearly double last year, as travel demand surged despite a sharp rise in jet fuel costs. "The strong core profit beat reflects Cathay's ability to pass on higher fuel costs to customers while capturing transit demand from the Middle East disruption," Citigroup analysts wrote in a note, reiterating a Buy rating with a HK$16.2 target price and naming the carrier their top Asia-Pacific airline pick. Profit attributable to shareholders for the six months ended June 30 is projected at HK$6.0 billion to HK$6.5 billion, compared with HK$3.7 billion a year earlier. The figure includes a HK$1.4 billion non-cash gain from the dilution of Cathay's stake in Air China Ltd. Excluding that item, core profit of HK$4.6 billion to HK$5.1 billion far exceeded the market consensus of about HK$3.3 billion, implying roughly 33% year-on-year growth at the midpoint. The earnings beat comes despite jet fuel prices rising about 55% year-on-year, driven by the U.S.-Israel conflict with Iran. Cathay carried 17.5% more passengers in the first half, with load factor improving 2.7 percentage points to 87.5%. Cargo tonnage rose 9% over the same period. The airline benefited from Hong Kong's role as a transit hub as Middle East disruptions redirected traffic through the city, boosting both passenger and cargo demand. Citigroup estimated Cathay's combined unit revenue — passenger and cargo — rose about 14% year-on-year in the first half, with the second quarter likely showing even stronger growth. The bank expects full-year 2026 consensus estimates to be revised higher following the guidance. The guidance signals Cathay's pricing power remains intact even as operating costs climb. Investors will watch the interim results announcement expected in August for updated segment margins and the dividend payout, a key consideration for Hong Kong-listed airline investors. *This article is for informational purposes only and does not constitute investment advice.*
Jul 24 2026, 03:25
Jiangxi Copper approves spin-off of copper foil unit for HK listing
Jiangxi Copper approved spinning off its 70.19%-owned subsidiary Jiangxi JCC Copper Foil for a Main Board listing in Hong Kong. The board's approval follows the company's strategy to unlock value in its copper foil business, the company said in a filing. The H shares to be issued will account for no more than 15% of Jiangxi JCC Copper Foil's total enlarged share capital. Subject to strong market demand, an over-allotment option may be exercised, with the greenshoe size proposed at no more than 15% of the initial offering size. Jiangxi Copper shares fell 5.1% on the announcement day, with short selling reaching $56.2 million, representing 9.2% of turnover. The spin-off would create a separately listed vehicle for the company's copper foil operations, a key component in the EV battery supply chain. Jiangxi Copper holds a 70.19% stake in the subsidiary. The listing venue is the Hong Kong Main Board, subject to regulatory approvals and market conditions. The company did not disclose the proposed offer price, deal size, or a target listing date. The copper foil unit produces electrolytic copper foil used in lithium-ion batteries and printed circuit boards. The spin-off would allow the subsidiary to access capital markets independently and potentially attract strategic investors. The spin-off gives Jiangxi JCC Copper Foil direct access to equity capital for capacity expansion in the EV battery supply chain. Investors will watch for the filing of the listing application and the indicative price range in the coming months. This article is for informational purposes only and does not constitute investment advice.