In Europe, the Stoxx Europe 600 was flat in morning trading. Vestas Wind Systems rose 12.2% and EDP Renovaveis climbed 5.5%. On the other hand, Commerzbank lost 3.3%, and TBC Bank Group slipped 2.6%.

We expect CRBM to leverage its geographical advantages, including favorable mill locations (adjacent to eastern coastal lines where its major clients are located), to rationalize operating expenses.