Here are five things you need to know this morning
Energy prices surge as strikes on gulf facilities escalate: The price of oil and natural gas has jumped as escalating attacks in the Persian Gulf threaten long-term damage to major energy facilities. European gas futures surged as much as 35 per cent to more than double their pre-war level and Brent crude rose as high as US$119 a barrel. An Iranian missile inflicted “extensive damage” on the Ras Laffan complex in Qatar housing the world’s largest liquefied natural gas plant. Oil loadings on Saudi Arabia’s west coast, a vital export route for the country amid the closure of the Strait of Hormuz, were briefly halted by an attack. Also, a gas facility in Abu Dhabi was shut after being hit by falling debris from an intercepted strike and two oil refineries in Kuwait were set ablaze by drones. U.S. President Donald Trump is calling for de-escalation after the strikes. Trump says the U.S. was not involved in the Israeli strike and warned Iran against further attacks on regional energy infrastructure.
Spending plans pressure Micron: Shares of Micron Technology traded lower in the pre-market. The tech company revealed plans to boost capital spending which drew concerns among investors. Still, Micron reported adjusted earnings well above estimates, with revenue of US$23.9 billion, also topping forecasts. Micron is benefiting from surging demand for AI chips.
Record results for Eli Lilly drug: Eli Lilly says its experimental diabetes drug Retatrutide delivered record weight loss in late-stage trials. Patients on the highest dose lost an average of fifteen point three per cent of body weight, outperforming existing treatments, while also improving blood sugar levels. The results strengthen Lilly’s position in the fast-growing obesity drug market, where it’s competing with Novo Nordisk.
TSX tech IPO prices below target: Metatek has priced its initial public offering below the deal’s marketing range, and the company is also raising less money than originally planned. The UK-based mapping software maker priced its IPO on the Toronto Stock Exchange at $5 per share, raising a total of $40 million dollars. The shortcoming seemingly reflects soft investor demand for IPOs in Canada, as well as problematic current market conditions.
AutoCanada swings to loss: AutoCanada will be a stock to watch on the TSX today after the company swung to a fourth-quarter loss on lower revenue. The Edmonton-based multi-location North American automobile dealership group says “performance was shaped by a more challenging market backdrop. Demand was affected by prior-period pull-forward activity, including the sunset of Canadian EV tax credits that benefited the fourth quarter of 2024 and tariff-related policy changes that drove stronger demand in the first half of 2025.”
