Ukraine Bonds Rally as Trump Pressures Russia for Quick Truce
The sovereign's dollar-denominated bonds maturing in 2035 and 2036 rose nearly 1.5 cents. Ukraine accounted for six out of the eight best-performing bonds in emerging markets on Monday.
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Associated Press
a few seconds ago
- Associated Press
A half-million young Catholics invade Rome, awaiting Pope Leo XIV at Holy Year youth festival
ROME (AP) — Hundreds of thousands of young Catholics poured into a vast field on Rome's outskirts Saturday for the weekend highlight of the Vatican's 2025 Holy Year: an evening vigil, outdoor slumber party and morning Mass celebrated by Pope Leo XIV that marks his first big encounter with the next generation of Catholics. Leo will surely like what he sees: For the past week, bands of young Catholics from around the world have invaded the area around St. Peter's Square for their special Jubilee celebration, in this Holy Year in which 32 million people are expected to descend on Rome to participate in a centuries-old pilgrimage to the seat of Catholicism. The young people have been traipsing through cobblestoned streets in color-coordinated t-shirts, praying the Rosary and singing hymns with guitars, bongo drums and tambourines shimmying alongside. Using their flags as tarps to shield them from the sun, they have taken over entire piazzas for Christian rock concerts and inspirational talks, and stood for hours at the Circus Maximus to confess their sins to 1,000 priests offering the sacrament in a dozen different languages. On Saturday, they began arriving at the Tor Vergata field on the eastern flank of Rome for the culmination of their Jubilee celebration — the encounter with Leo. After walking five kilometers (three miles) from the nearest subway station, they passed through security checks, picked up their boxed meals and set up camp, backpacks and sleeping bags at the ready and umbrellas planted to give them shade. Leo, who was elected in May as the first American pope, was flying in by helicopter Saturday evening to preside over the vigil and a question-and-answer session. He was then returning to the Vatican for the night and coming back for a popemobile romp and Mass on Sunday morning. A mini World Youth Day, 25 years later It all has the vibe of a World Youth Day, the Catholic Woodstock festival that St. John Paul II inaugurated and made famous in 2000 in Rome at the very same Tor Vergata field. Then, before an estimated 2 million people, John Paul told the young pilgrims they were the 'sentinels of the morning' at the dawn of the third millennium. Officials had initially expected 500,000 youngsters this weekend, but Leo hinted the number might reach 1 million. 'It's a bit messed up, but this is what is nice about the Jubilee,' said Chloe Jobbour, a 19-year-old Lebanese Catholic who was in Rome with a group of more than 200 young members of the Community of the Beatitudes, a France-based charismatic group. She said, for example, it had taken two hours to get dinner Friday night, as the KFC was overwhelmed by orders. The Salesian school that offered her group housing is an hour away by bus. But Jobbour, like many here this week, didn't mind the discomfort: It's all part of the experience. 'I don't expect it to be better than that. I expected it this way,' she said, as members of her group gathered on church steps near the Vatican to sing and pray before heading out to Tor Vergata. There was already one tragedy before the vigil began: The Vatican confirmed that an Egyptian 18-year-old, identified as Pascale Rafic, had died while on the pilgrimage. Leo met Saturday with the group she was traveling with and extended his condolences to her family. The weather has largely cooperated: While Italian civil protection crews had prepared for temperatures that could have reached 34C (93F) or higher this week, the mercury hasn't surpassed 30C (85F) and isn't expected to. Romans inconvenienced, but tolerant Those Romans who didn't flee the onslaught have been inconvenienced by the additional hordes on the city's notoriously insufficient public transport system. Residents are sharing social media posts of outbursts by Romans angered by kids flooding subway platforms and crowding bus stops that have complicated their commutes to work. But other Romans have welcomed the enthusiasm the youngsters have brought. Premier Giorgia Meloni offered a video welcome, marveling at the 'extraordinary festival of faith, joy and hope' that the young people had brought to the Eternal City. 'I think it's marvelous,' said Rome hairdresser Rina Verdone, who lives near the Tor Vergata field and woke up Saturday to find a gaggle of police congregating outside her home as part of the massive, 4,000-strong operation mounted to keep the peace. 'You think the faith, the religion is in difficulty, but this is proof that it's not so.' Verdone had already made plans to take an alternate route home Saturday afternoon, that would require an extra kilometer (half-mile) walk, because she feared the 'invasion' of kids in her neighborhood would disrupt her usual bus route. But she said she was more than happy to make the sacrifice. 'You think of invasion as something negative. But this is a positive invasion,' she said. ___ Associated Press religion coverage receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.
Yahoo
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Yahoo
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Raymond James Starts Ares Management (ARES) Coverage, Highlights Strong Fee-Based Model
Ares Management Corporation (NYSE:ARES) ranks among the . On July 28, Raymond James began coverage of Ares Management Corporation (NYSE:ARES) with a Market Perform rating. While the firm highlighted Ares' robust direct lending position and growth prospects as advantages, it also pointed out that there were no immediate catalysts for the stock. According to Raymond James, Ares Management Corporation (NYSE:ARES) is reasonably valued at its current price-to-earnings multiple of 32x next-twelve months, which is higher than the 20x anticipated P/E average for the alternative asset management industry in 2026. The firm claims that Ares' purely fee-based business model, which has little balance sheet exposure and a better growth trajectory than its peers, justifies the premium valuation. Raymond James emphasized Ares' guidance for fee-related earnings through 2028, which are expected to improve at a compound annual growth rate of 16–20%. As the company deploys about $81.5 billion in committed assets that do not currently generate fees, additional margin gains are projected. Ares Management Corporation (NYSE:ARES) is an alternative asset management with operations in Asia, Europe, and the United States. The company is divided into different divisions, including the Real Estate Group, the Private Equity Group, the Direct Lending Group, and the Tradable Credit Group. While we acknowledge the potential of ARES as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None.
