Vedanta Ltd's share price increased by 2% to Rs 454 on the National Stock Exchange following Moody's upgrade of its parent company, Vedanta Resources Ltd, from ‘B3’ to ‘B2’. The stock has risen 94% over the past year, with a market capitalization of Rs 1.75 lakh crore. Moody's cited successful bond issuances totaling $800 million since September 2024 as a key factor for the upgrade, maintaining a stable outlook.
Dr Martens Plc shares surged by up to 21% in early London trading after the company reported interim sales of £324.6 million, surpassing analyst expectations of £318.7 million. This positive performance comes as the boot-maker aims to meet its targets for the year, despite a 26% decline in shares year-to-date, largely due to concerns over US demand.
The Swiss financial sector remains a crucial component of the economy, contributing CHF 108.4 billion in value added and supporting nearly 480,000 jobs in 2023. Banking services accounted for 16% of service exports, while insurance services contributed 6.4%. However, employment is expected to decline due to the integration of Credit Suisse into UBS, with a projected decrease of 0.6% in 2024 and 1.1% in 2025, amid a challenging market for insurance companies.
10:18 28.11.2024
Long-term US bond yields are retreating after two months of increases, with the 10-year T-Note dropping about 25 basis points since mid-November. This decline reflects revised inflation and growth expectations, likely influenced by a shift away from the Trump Trade.Technically, the T-Note trend appears bullish, with potential for a short-term rebound. Traders are advised to buy above $110, targeting $113 and $115, while keeping an eye on market fluctuations leading up to Donald Trump's inauguration in January.
IG
10:17 28.11.2024
Hartmut Issel of UBS Wealth Management anticipates a significant earnings rebound for India's Nifty in FY26, nearly doubling previous growth forecasts. He encourages early investment in India, citing its unique position for earnings acceleration despite high valuations. Issel also notes that while the US market still holds value, interest rates are expected to peak, supporting stock performance.
10:15 28.11.2024
The European Central Bank may gradually lower interest rates as inflation eases, potentially reaching around 2%, according to Governing Council member Pierre Wunsch. He indicated that if inflation slows to target sooner than anticipated, discussions on removing restrictions could take place, though he advised against drastic measures.
A former executive of Binance, Amrita Srivastava, has filed a whistleblower claim in the UK, alleging that a colleague solicited a bribe from a customer for preferential treatment. She contends that she was unfairly dismissed after voicing her concerns about the alleged misconduct.
UBS has reduced its price target for Vestas Wind Systems A/S to DKK 175 from DKK 245 while maintaining a Buy rating. The company, a leading wind turbine manufacturer, expects to deliver 2,554 turbines with a total capacity of 12,685 MW by 2023, with net sales primarily from turbine sales (76.8%) and services (23.2%). Geographically, sales are distributed across Europe/Middle East/Africa (46.4%), the United States (20%), and other regions.
10:06 28.11.2024
UBS has raised the target price for AAK AB to SEK 375 from SEK 365, maintaining a Buy rating on the company. AAK, a Sweden-based holding firm, specializes in food processing, refining vegetable oils for various specialty products across three segments: Food Ingredients, Chocolate & Confectionery Fats, and Technical Products & Feed. The company also operates Kamani Oil Industries Pvt Ltd. as a majority-owned subsidiary.
10:05 28.11.2024
UBS has increased its target price for AAK to 375 SEK, up from 365 SEK, while reaffirming its takeover offer. AAK publ AB, based in Sweden, specializes in food processing, refining vegetable oils for various sectors, including food ingredients, chocolate and confectionery fats, and technical products. The company also operates Kamani Oil Industries Pvt Ltd. as a majority-owned subsidiary.
10:05 28.11.2024
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