•The Banque de France announced it has repatriated the last of its gold reserves held in New York, replacing them with international-standard bars held in Paris.
•The Banque de France generated a capital gain of €12.8 billion after upgrading 129 tonnes of gold between July 2025 and January 2026.
•UBS expects strong demand for gold from China to persist in the coming period.
•Phillips 66 (PSX) was upgraded to 'Strong Buy' as it benefits from surging diesel and chemical margins due to the Iran war and Strait of Hormuz closure.
•Polypropylene prices have surged 35% since March 2026, boosting Phillips 66's CPChem operations in the U.S.
•The company benefits from its high heavy crude refining capacity and the use of discounted Canadian feedstock (WCS).