Shan Ahmed Khan

BP intends to divest its North Sea business as the energy sector undergoes transformation. Petrol prices in the UK approached annual peaks at 159.5p per litre, influenced by escalating tensions between Iran and the US. Diesel prices hit 178.2p. Sainsbury's shares climbed 4% after the £120m divestment of Argos, indicating a strategic shift towards its core food business. Korea's stock market recorded an all-time jump, propelled by AI firms, underlining intense investor enthusiasm in tech sectors.

Kelt Exploration Ltd. (TSE:KEL) shares climbed above their 200-day moving average of C$8.99, peaking at C$9.83. The company's market capitalisation stands at C$1.98 billion and it trades at a P/E ratio of 44.59. Royal Bank Of Canada and Scotia analysts raised price targets to C$11.00 and C$13.00 respectively and assigned 'outperform' ratings. Insider sales trimmed holdings by more than 7%, with insiders now owning 15.87% of outstanding shares.

Futures for US equities are higher, with E-mini S&P 500 futures climbing 0.3% and Nasdaq-100 futures gaining 0.5%. Markets await the June US PCE price index, expected to slip 0.1% month-on-month, while the core measure is seen up 0.2%, showing inflation easing but still above the Fed's 2% target. US Q2 GDP is projected at a 2.1% annualised rate, supported by consumer demand and AI-driven investments. Earnings from Colgate-Palmolive, AbbVie, Chevron, and others could sway investor mood.