The US Dollar Index has rallied 7% since October 2024, driven by expectations of Trump's economic policies and a less dovish stance from the Federal Reserve. While a potential rate cut in December may support dollar strength, geopolitical tensions and trade restrictions could create volatility, with technical analysis suggesting a range-bound trading scenario for 2025. Historical patterns indicate potential dollar weakness late in the year, followed by renewed strength in January.
IG
14:47 29.11.2024
True North and two other entities are set to sell a 14.7% stake in Home First Finance through block deals, with a floor price established at Rs 968 per share, reflecting an 8% discount to the current market price. On November 29, shares of Home First Finance closed down 3.15% at Rs 1,058 on the NSE, with Kotak Securities acting as the broker for the transaction.
Lombard Odier, a historic Swiss private bank, has been indicted for aggravated money laundering by Swiss prosecutors, alongside a former employee. The charges relate to allegations of concealing proceeds from a criminal organization linked to Gulnara Karimova, daughter of Uzbekistan's late president. The bank, under investigation since 2016, denies the allegations and plans to defend itself vigorously, asserting that it proactively reported suspicions to authorities.
Apex Ecotech's initial public offering (IPO) closed with an impressive subscription rate of 421 times, raising Rs 25.54 crore through a fresh issue of 34.99 lakh equity shares priced between Rs 71-73. Non-institutional investors led the demand, subscribing 1,182.7 times their quota, while retail and qualified institutional buyers subscribed 329.8 and 136.4 times, respectively. The funds will be utilized for working capital, general corporate purposes, and IPO expenses.
The rise of corporate bond ETFs is driving a surge in large portfolio trades, with transactions exceeding $500 million now making up nearly a quarter of US corporate bond trading activity, a significant increase from less than 1% in 2018. As of last month, these portfolio transactions accounted for about 25% of all high-grade corporate bond trades between clients and dealers, according to Barclays Plc.
The Canadian economy saw a modest 0.1% growth in October, following a similar increase in September. This comes after a weaker-than-expected third quarter, which recorded an annualized growth of just 1%, prompting the Bank of Canada to consider further rate cuts.
SV Waldhof Mannheim closed the 2023/24 season with a loss of €577,000, despite a reduction from the previous year's €893,000 deficit. President Bernd Beetz highlighted the need for structural changes and urged the City of Mannheim to decide on the stadium issue, which is crucial for the club's future viability. Beetz was re-elected for a third term with strong support, as he continues to address the club's long-standing financial challenges.
The global phototherapy equipment market is set to reach USD 581.2 million by 2032, growing at a CAGR of 4.3% from 2024, driven by rising skin disorders, neonatal jaundice cases, and technological advancements. Key growth opportunities lie in portable devices and telemedicine integration, while challenges include high costs and regulatory hurdles. North America leads the market, with significant growth expected in the Asia-Pacific region due to increased healthcare investments.
Fundraising through debt issues saw a significant decline of 40% month-on-month in October, according to the SEBI bulletin. The total amount raised dropped to ₹76,752 crore, with public issues contributing ₹670 crore and private placements at ₹76,082 crore. Additionally, fundraising through InvITs plummeted nearly 90%, falling to ₹694 crore from ₹6,666 crore in September.
Donald Trump's proposed 25% tariffs on imports from Mexico and Canada threaten major U.S. automakers, with GM, Ford, and Stellantis facing significant profit losses due to their reliance on cross-border supply chains. Analysts warn that tariffs on individual car parts could be even more damaging, potentially raising costs for consumers. Carmakers may need to increase U.S. production or cut costs to mitigate the impact, but the shift could be challenging, especially for European manufacturers with limited spare capacity.
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