Financial Wire

Sector Update: Financial Stocks Mixed Late Afternoon

-- Financial stocks were mixed in late Monday afternoon trading, with the NYSE Financial Index decreasing 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.3%.

The Philadelphia Housing Index was rising 0.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.2%.

Bitcoin (BTC-USD) was climbing 3.3% to $76,265, and the yield for 10-year US Treasuries was slightly higher at 4.25%.

In corporate news, Intercontinental Exchange-backed (ICE) predictions site Polymarket is in talks to raise about $400 million at a valuation of roughly $15 billion, including the new proceeds, The Information reported. Intercontinental Exchange shares were down 0.5%.

Sila Realty Trust (SILA) agreed to be acquired and taken private by affiliates of Blue Owl Capital's (OWL) real estate unit in an all-cash deal worth roughly $2.4 billion. Sila shares jumped 19%, and Blue Owl was up 0.5%.

Apollo Global Management (APO) has agreed to invest $1.25 billion in convertible preferred equity in McKesson's (MCK) Medical-Surgical Solutions business, acquiring about a 13% minority stake as part of the unit's planned separation, McKesson said Monday. Apollo shares rose nearly 2%.

Blackstone-backed (BX) Jersey Mike's Subs said Monday that it has confidentially filed a draft registration statement with the US Securities and Exchange Commission for a proposed initial public offering. Blackstone shares were decreasing 0.2%.

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Commodities

US Natural Gas Update: Prices Maintain Weather-related Gains in After-Hours Trade

US natural gas futures managed to keep some of the day's advances in after-hours trading on Monday, supported by colder weather forecasts and marking a fourth straight session of gains.Both the front-month Henry Hub contract and the continuous contract edged up 0.07% to $2.676 per million British thermal units.The front-month contract traded between $2.672 and $2.746 on Monday.Weather-driven demand expectations firmed after forecasts turned cooler. Weather Group projected below-average temperatures across the western US from Apr. 25-29 and in the eastern half of the country from Apr. 30 to May 4, according to Barchart. Energy Buyers Guide also pointed to a broadly cooler-than-normal pattern over the next two weeks, though it noted the anomalies are more likely to limit early-season cooling demand than significantly extend heating needs.On the supply side, US gas production averaged 109.1 billion cubic feet per day, up 2% year over year, Barchart reported, citing BNEF data. Demand was estimated at 72.8 Bcf/d, an increase of 13.2% from a year earlier, while LNG feedgas flows were pegged at 20.3 Bcf/d, up 3.8% from the prior week.Analysts at Gelber & Associates said geopolitical uncertainty, particularly around the Middle East and shipping risks through the Strait of Hormuz, has contributed to volatility in global gas markets, intermittently supporting Henry Hub prices despite weak underlying fundamentals."Still, the move higher is starting from a depressed base," the firm said, adding that the market continues to view gains as tactical rather than the beginning of a sustained rally, with the $3/MMBtu level remaining a key resistance point.

Treasury

Silvercorp Metals Secures US$220 Million Syndicated Loan From Global Banks

Silvercorp Metals (SVM.TO) after trade Monday said it secured a three-year loan agreement with a group of international banks.The total loan amounts to RMB1.5 billion (about US$220 million), with total bank commitments reaching RMB2 billion, which is double the company's original target. The loan will mature three years after the funds are first drawn, according to the statement.Silvercorp added that the loan will be repaid in RMB using dividends from its operations in China. The funds will be used for general corporate purposes, including working capital and improving financial flexibility."This landmark financing complements the company's robust cash reserves, consistent operating cash flow, and established financing platform, reinforcing the financial foundation to deliver on its long-term strategic growth objectives across a global mining portfolio - including growth opportunities in Kyrgyzstan and Ecuador," the company said.Silvercorp shares closed down $0.61 to $16.96 on the Toronto Stock Exchange.

$SVM$SVM.TO
Equities

Warrior Met Coal Keeps Quarterly Dividend at $0.08 per Share, Payable May 7 to Holders of Record May 1

$HCC