Google has proposed new changes to its search results in Europe to address complaints from smaller rivals about reduced traffic due to previous adjustments. Under the Digital Markets Act, which prohibits favoritism, the company aims to balance the needs of price-comparison sites, hotels, and retailers while testing a return to a simpler search format in select countries. Violations of the DMA could result in fines of up to 10% of global turnover.
European markets are set to open lower as investors react to potential tariff increases from President-elect Donald Trump, who plans to impose a 10% tariff on all Chinese goods and 25% on products from Mexico and Canada. Gold prices fell nearly 3.5% following these announcements, while buyback strategies in Europe continue to show strong performance despite the overall market gloom. Meanwhile, the Dow Jones and S&P 500 reached all-time highs, buoyed by optimism surrounding Trump's Treasury pick, Scott Bessent.
The Nifty and Sensex reversed gains after a strong opening, closing lower due to declines in auto and energy stocks. The Sensex fell by 147.14 points to 79,962.71, while the Nifty dropped 39.40 points to 24,182.50, amid concerns over earnings and a lack of positive market triggers. Despite a significant influx of foreign institutional investment, experts caution that the recent rally may not be sustainable.
Swiss bank UBS has increased its price target for Zurich Insurance Group from 475 to 532 Swiss francs while maintaining a "Neutral" rating. Analyst Will Hardcastle noted the positive share performance following the recent capital markets day, prompting a 4% and 6% rise in EPS forecasts for 2025 and 2026, respectively.
07:49 26.11.2024
Indian IT stocks are gaining traction as experts anticipate increased deal value from the US manufacturing and BFS sectors, bolstered by potential corporate tax cuts under the Trump administration. This pro-business climate is expected to drive higher spending on IT services, positioning Indian tech companies favorably in the market.
Hasma Capital, the family office for Saudi Arabia's Juffali clan, has appointed Thomas Fitzmaurice, previously with Rupert Murdoch’s family office, to manage private markets. Fitzmaurice, 34, joins following the exit of long-time executives at Hasma Capital.
UBS has maintained a neutral rating on Zurich Insurance Group Ltd, which operates primarily in general insurance (75.2% of revenues) and life insurance (19.6%). Additional activities include network and investment banking, reinsurance, and asset management, contributing to the remaining income. The Farmers Group also provides various administrative services, accounting for 4.5% of income.
07:36 26.11.2024
Foreign automakers in China risk losing USD20 billion in annual profits due to the rapid rise of local competitors in electrification and vehicle intelligence. While domestic brands have increased their market share to over 70%, international firms face declining capacity utilization and must adapt by focusing on niche markets. Despite challenges, withdrawing from China could limit access to vital technologies and hinder overall development.
07:35 26.11.2024
Swiss bank UBS has increased its price target for MTU from 320 to 370 euros, maintaining a "buy" recommendation. Analyst Ian Douglas-Pennant anticipates optimistic targets for 2025 to be announced on November 29, with high expectations for the upcoming capital market day. Long-term potential is seen as GTF engines enter the service business.
07:35 26.11.2024
UBS has increased its price target for MTU from 320 to 370 euros, maintaining a "Buy" rating. Analyst Ian Douglas-Pennant anticipates optimistic targets for 2025 to be announced on November 29, despite already high expectations for the capital market day. Long-term potential is seen with the addition of GTF engines to the service business.
07:35 26.11.2024
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