EasyJet reported a record £3.59 billion ($4.5 billion) in ancillary revenue for the year ending in October, driven by charges for add-ons like extra baggage. CEO Johan Lundgren criticized a €29 million fine from Spain for these practices, arguing it undermines consumer choice and competition. Despite regulatory challenges, EasyJet's performance improved, reflecting strong demand for travel across Europe.
The FTSE 100 is consolidating after reaching an 8,319 high, supported by the 55-day SMA at 8,231, with resistance between 8,326 and 8,372. Meanwhile, the DAX 40 is slipping due to concerns over Trump tariffs affecting the German auto industry, with support at 19,196 and a critical zone between 19,004 and 18,810. The NASDAQ 100 is experiencing reduced volatility ahead of Thanksgiving, with resistance at 21,003 and minor support between 20,744 and 20,753.
IG
10:13 27.11.2024
President-elect Donald Trump's proposed 25% tariffs on Canadian and Mexican imports could significantly impact U.S. refiners, consumers, and Canadian producers, potentially leading to higher fuel prices and revenue losses. Experts express skepticism about the implementation of these tariffs, citing inflation concerns and the need to maintain energy costs ahead of the midterm elections. Canadian officials are urging immediate resolution of border issues to prevent unnecessary tariffs on exports.
Chinese stocks surged as optimism grew over potential stimulus measures ahead of a significant economic meeting in December. The CSI 300 Index rose 1.7%, marking its largest gain in three weeks, with technology shares leading the charge. In Hong Kong, a gauge of Chinese stocks climbed 2.6%, reflecting a broader risk-on sentiment.
Pony AI Inc., a Chinese driverless technology firm, raised $260 million in its US initial public offering, pricing its American depositary shares at $13 each. This pricing reflects strong investor interest in autonomous-driving technology, giving the company an implied market value of approximately $4.5 billion. Trading is set to commence on Wednesday.
The Italian government's attempt to cut the Rai fee by €20 was rejected by the Senate Budget Committee, with Forza Italia voting against it alongside opposition parties. Deputy Prime Minister Tajani and Forza Italia's Gasparri argued that the proposed cut would not provide real savings for citizens, while League members expressed disappointment and vowed to continue advocating for tax reductions. The situation highlights divisions within the ruling coalition, with calls for clarity on the government's majority.
Rishabh Pant made headlines as the highest-paid cricketer in IPL history, auctioned for Rs 27 crore. Despite this, an analysis reveals that the median income in the 2025 IPL auction was lower than in 2018, with top players averaging Rs 22.7 crore compared to Rs 16.5 crore last year. The average price per player rose to Rs 3.51 crore, marking a nearly 10% increase from the previous year and more than doubling over the past decade.
Delivery Hero SE has increased the size of Talabat's initial public offering in Dubai to $2 billion, making it the largest listing in the UAE this year. The company plans to sell a 20% stake, up from 15%, with shares priced at 1.60 dirhams ($0.44) each, the upper limit of the initial range.
Francoise Bettencourt Meyers, heiress of L’Oreal, has experienced a significant decline in her fortune this year but continues to invest in French startups. Her family’s investment firm, Tethys Invest SAS, is set to acquire a 13% stake in software supplier Septeo SAS, valued at over €3 billion, alongside Singapore’s GIC, while private equity firm Hg will maintain a majority stake.
Just Eat Takeaway.com NV plans to delist from the London Stock Exchange due to low share liquidity, shifting to a sole listing on Euronext Amsterdam. The decision, effective December 27, aims to reduce administrative burdens, complexity, and costs associated with the secondary listing.
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