UBS has initiated coverage on U.S. airlines, projecting stronger revenue growth and improved profit margins by 2025. It has given "buy" ratings to Alaska Air Group, United Airlines, and Delta Air Lines, while assigning "neutral" ratings to American Airlines, Loyalty Ventures, and Frontier Group. Southwest Airlines and JetBlue Airways received "sell" ratings due to concerns over profit margins and financial stability.
10:50 27.11.2024
Just Eat Takeaway will delist from the London Stock Exchange due to low liquidity and trading volumes, making Amsterdam its sole trading venue. The delisting, effective December 27, aims to reduce administrative burdens and costs associated with maintaining the LSE listing. This decision follows the company's recent sale of its GrubHub arm for $650 million, significantly less than its original purchase price.
Standard Chartered Plc is considering the sale of its wealth and retail banking operations in Zambia, Uganda, and Botswana to generate cash for reinvestment in other areas of the business. The bank indicated that any financial impact from these potential exits would be minimal.
U.S. Treasury yields fell as investors awaited key inflation data, with the 10-year yield down to 4.2673% and the 2-year yield at 4.2210%. The October personal spending and income report, including the Fed's preferred inflation gauge, is set for release at 10 a.m. ET, with economists predicting a 2.8% year-over-year increase for the core reading. Meanwhile, traders see a 66% chance of a quarter-point rate cut in December, as Fed officials express confidence in easing inflation and gradual policy adjustments.
Donald Trump’s impending tariff policies could significantly impact India’s key export sectors, including steel, textiles, and electronics. While India has not yet faced direct tariffs, experts remain vigilant about potential changes that could affect the country's economy as Trump targets major trading partners like Canada, Mexico, and China.
India's medical devices sector is projected to grow from $12 billion in 2023 to $50 billion by 2030, driven by startup innovation and supportive government policies aimed at reducing import dependence. A new scheme with a Rs 500 crore outlay over three years will enhance domestic manufacturing capabilities.Factors such as rising chronic disease prevalence, an aging population, and increased healthcare access are fueling demand for medical devices. Despite being a major importer, India has the potential to become a key exporter, leveraging its skilled workforce and cost competitiveness.
Fresh US sanctions targeting around 50 Russian banks have led to a significant decline in the ruble, which has fallen over 5% since November 21. The currency has now surpassed 105 per dollar, marking its weakest point since March 2022, following the initial sanctions imposed after the invasion of Ukraine.
Pets at Home Group Plc has warned of lower-than-expected profits due to weak consumer confidence and the decline of the pandemic-driven surge in pet ownership. The company's stock fell by as much as 10% in London, reflecting a more than 20% drop since the beginning of the year. For fiscal 2025, underlying profit before tax is now expected to grow modestly to £132 million, down from previous guidance of £144 million, according to a statement.
Solana (SOL) has experienced a price decline after reaching a historic high of $260 on November 22, currently trading at $240. The altcoin's future trajectory depends on maintaining support above the 21-day SMA; a break below could lead to further declines towards $160, while a rise above $260 may push it to $280. Key supply zones are identified at $200, $220, and $240, with demand zones at $120, $100, and $80.
Broader market indices have surged over the past four sessions, with the Nifty Smallcap 100 rising nearly 5%, driven by a reduction in selling pressure from foreign institutional investors. In contrast, benchmark indices like the Nifty 50 and Nifty Midcap 100 saw gains of 4.21% and 2.87%, respectively. On November 27, the Nifty Smallcap 100 reached an intraday high of 18,474.35, while the Nifty hit 24,341.15.
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