Euro zone inflation rose to 2.3% in November, surpassing the European Central Bank's 2% target, as reported by Eurostat. This marks an increase from 2% in October, driven by persistent services inflation, while core inflation remained steady at 2.7%. Markets anticipate a 25-basis-point interest rate cut from the ECB in December, although speculation for a larger cut has diminished amid slight improvements in growth and inflation.
Potato prices in Odisha have surged due to supply restrictions imposed by West Bengal, which is the primary supplier for the state. Prices have risen from Rs 30-33 per kg to Rs 40 per kg as trucks laden with potatoes remain stranded at the border, with fears of further increases if the supply issue persists.
Reinhard Wolf will step down as Chairman of the Management Board and CEO of Raiffeisen Ware Austria AG on November 30, succeeded by Johannes Schuster in December. Wolf plans to focus on his role at BayWa, where he will assist until a new management team is appointed amid ongoing challenges.
Investors who purchased Raiffeisen shares a year ago at EUR 15.41 would see their investment of EUR 10,000 grow to EUR 11,778.07, reflecting a 17.78% increase, as the shares are currently valued at EUR 18.15. Raiffeisen's total market worth is now EUR 5.81 billion.
Euro-area inflation rose to 2.3% in November, surpassing the European Central Bank's 2% target, but this is not expected to halt planned interest rate cuts. Despite a slight dip, service costs remain high, and non-energy industrial goods prices have increased for the second consecutive month.
The National Stock Exchange (NSE) has expanded its futures and options (F&O) segment by adding 45 new stocks, effective November 29, 2024, increasing the total to 223. This inclusion, following SEBI’s revised criteria, aims to enhance liquidity and market participation, featuring notable stocks like LIC, Jio Financial Services, and Zomato. Analysts anticipate that this move will boost trading volumes and improve price discovery for these stocks.
Xie Yi Jing has resigned as CEO of China Renaissance Holdings Ltd. less than 10 months after taking over from co-founder Bao Fan, who has been missing since early last year. The resignation is attributed to personal and family reasons, with Xie set to remain until January 31 next year. He will be succeeded by veteran investment banker Wang Lixing.
The Bank of England's latest stress test reveals that the UK's major clearing houses, including ICE Clear Europe Ltd., LCH Ltd., and LME Clear Ltd., demonstrate resilience under severe market conditions. However, the results highlight vulnerabilities related to highly concentrated positions, particularly in scenarios involving the default of multiple members.
Shares of Zee Entertainment Enterprises have plummeted over 50% in the past year following the cancellation of a potential $10-billion merger with Sony Pictures in January 2024. Legal action has ensued between the companies due to unmet commitments related to the deal.
UBS has maintained a "Buy" rating for Gerresheimer, setting a target price of 132 euros. Analyst Olivier Calvet highlighted that data on Novo Nordisk's weight-loss drug CagriSema could significantly impact Gerresheimer, positioning it favorably against competitors like Ypsomed.