Miniso Group Holding Ltd. reported a 19.3% increase in revenue for the third quarter, reaching 4.52 billion yuan ($644.5 million), driven by consumer demand for affordable products amid economic uncertainty. This growth slightly missed the 20% analyst estimate, while the company achieved a record gross margin of 44.9%, up from 41.8% a year earlier.
The RBI is closely monitoring the microloan market following its crackdown on the unsecured personal loan sector in November 2023. Recent developments have led to a temporary shift in the banking system's liquidity, pushing it into a deficit mode. Investors should stay alert to these evolving trends ahead of the MPC meeting in December.
The Sensex surged by 702.50 points to close at 79,746.24, while the Nifty rose by 209.20 points to 24,123.40, driven by gains in pharma, infrastructure, energy, and auto sectors. Despite this rebound, experts caution that ongoing FII selling and other negative factors may hinder a sustained recovery, advising investors to remain cautious.
Lombard Odier & Cie faces serious money laundering charges linked to its dealings with Gulnara Karimova, daughter of Uzbekistan's former president. The Swiss Attorney General's indictment alleges the bank and a former employee concealed proceeds from Karimova's criminal organization between 2005 and 2012. Lombard Odier denies the allegations, asserting it has cooperated fully with authorities since reporting suspicions in 2012.
UK mortgage approvals surged to a more than two-year high in October, with banks and building societies granting 68,300 home loans, surpassing economists' expectations of 64,500. This increase comes as buyers remain undeterred by concerns over tax hikes and high interest rates.
Barclays favors German blue-chip stocks over French ones, citing France's weak fiscal fundamentals and political instability. As borrowing costs rise, concerns grow over the French government's ability to pass a budget, with potential implications for market stability and investor confidence. The risk of bond vigilantes looms if political uncertainty persists, potentially widening the yield spread between German and French debt.
Delivery Hero's CEO has indicated that the IPO of its Middle Eastern unit, Talabat, at a valuation of $10.2 billion, highlights the undervaluation of the parent company, which is valued at €10.9 billion ($11.5 billion). This public listing provides a significant cash influx for Delivery Hero SE.
Switzerland and China are set to enhance their free trade agreement, with implementation expected in 2025. Swiss parliamentarian Thomas Aeschi indicated that negotiations, which resumed in September, aim to reduce heavy tariffs on Swiss exports, particularly watches. China seeks to attract more Swiss investments and companies, highlighting the importance of their trade relationship, valued at CHF33 billion.
India faces a significant challenge with nearly 30 GW of unsold renewable energy, primarily due to a lack of contracts from distribution companies (discoms). The situation has been exacerbated by recent scrutiny of industry leaders, highlighting the urgent need for stricter enforcement of Renewable Purchase Obligation (RPO) norms. In response, the Centre has mandated public sector units to bid for 50 GW of renewable projects annually until FY28, aiming to achieve a target of 500 GW of non-fossil fuel-based power generation capacity by 2030.
Treasury yields dipped slightly on a holiday-shortened trading day, with the 10-year yield at 4.22% and the 2-year steady at 4.208%. The Federal Reserve's recent data indicated inflation at 2.3% and a tightening labor market, while markets anticipate a 66.3% chance of a rate cut in December amid concerns over potential tariff hikes from President-elect Trump.

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