European markets are set to open mixed as investors await euro zone inflation data, with the U.K.'s FTSE 100 expected to rise slightly while Germany's DAX, France's CAC, and Italy's FTSE MIB are projected to decline. The pan-European Stoxx 600 index closed up 0.45% previously, and attention is focused on upcoming inflation readings ahead of the European Central Bank's meeting on December 12. Meanwhile, British insurer Aviva is reportedly in talks with Direct Line shareholders, potentially signaling a hostile takeover attempt after Direct Line rejected Aviva's offer as undervalued.
In a competitive internal battle at Zürcher Kantonalbank, Judith Albrecht emerged victorious over Alona Müller for a key position in the Lake Zurich market area. Albrecht, who has a decade of experience at ZKB and previously led financial advisory services, was favored by her superior, Florence Schnydrig Moser. Meanwhile, Müller has been appointed as the new chairwoman of Raiffeisen Thalwil, where she aims to develop sustainable and innovative banking solutions.
07:45 29.11.2024
Anand Rathi has initiated coverage on Lloyds Metals and Energy with a "Buy" rating and a target price of Rs 1,260. The company, the sole iron ore miner in Maharashtra, holds significant reserves and is expanding its steel production capabilities with a planned investment of Rs 327 billion. With a projected 65% EBITDA CAGR from FY24-27, strong growth momentum is anticipated.
Rajya Sabha Chairman Jagdeep Dhankar expressed concern over the misuse of Rule 267, stating he received 17 adjournment notices related to corruption allegations against the Adani Group and violence in Uttar Pradesh and Manipur. He rejected all notices, urging MPs to reflect on the rule's disruptive use, which sparked protests from opposition members.
China's semiconductor equipment investments are projected to decline significantly in 2025 and 2026, with spending expected to drop to $29.7 billion in 2025, a 19.5% decrease from 2024. This downturn is driven by stricter US export controls and high inventory levels, leading to a slowdown in orders from key suppliers like ASML.Despite these challenges, Chinese firms are advancing in artificial intelligence, with domestic providers anticipated to capture around 20% of the market this year. UBS recommends shares of NAURA Technology Group, while downgrading Advanced Micro Fabrication Inc to "Neutral," citing limited growth potential.
07:40 29.11.2024
Active momentum funds are gaining popularity as major fund houses like Axis MF, Nippon MF, and Union AMC launch new schemes, despite the presence of over 20 passive options. Fund managers argue that the active approach, which involves continuous market analysis, is crucial for navigating inherent risks, especially during market downturns. Umeshkumar Mehta from Samco Mutual Fund highlights that momentum strategies have thrived in India's rising market over the past 15 years, emphasizing the need for flexibility in active management.
The introduction of the electronic patient record (ePA) in Germany marks a significant advancement in healthcare digitalization, emphasizing the need for robust data protection and security. Confidential computing, utilizing encrypted execution environments, ensures compliance with regulations like GDPR while safeguarding sensitive data in cloud environments. This technology empowers users with control over their data, facilitating secure digital transformation across various sectors, including healthcare, finance, and public services.
ICICI Securities has initiated coverage on Allied Blenders and Distillers Limited with a "BUY" rating and a target price of Rs 400. The company is poised to benefit from the premiumisation trend in the alco-beverages sector, with plans for new product launches and a focus on enhancing its brand mix in the Officer’s Choice Whisky segment. Expected revenue and EBITDA growth rates of 10% and 30% respectively from FY24 to FY27 are projected, although risks include potential regulatory changes and challenges in scaling the premium segment.
Finland's economy showed signs of recovery in the third quarter, with a GDP growth of 0.3% from the previous quarter, following a revised growth of 0.1%. This growth aligns with earlier projections and suggests an acceleration in economic recovery is expected next year.
South African stocks are on a record-setting rally, up over 7% in dollar terms since the establishment of a business-friendly unity government in July, significantly outperforming emerging-market peers. The positive momentum is bolstered by eight months without disruptive power blackouts and inflation falling below the central bank's target, raising hopes for interest rate cuts. However, concerns remain about whether companies can meet rising earnings expectations to sustain this growth into 2025.
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