Andrea Orcel, CEO of Unicredit, has launched a surprise €10 billion bid for Banco BPM, offering a minimal premium of 0.5%. This move follows his ongoing efforts to acquire Commerzbank, which is currently stalled due to political uncertainties in Germany. The Italian government is cautiously evaluating the bid, with skepticism about the risks of pursuing two major acquisitions simultaneously.
The Parliamentary Investigation Committee (PUK) is set to release its long-awaited report on the end of Credit Suisse, following a year and a half of inquiry. The report comes amid widespread resentment over the federal government's use of emergency law to rescue the bank from bankruptcy after UBS's takeover in March 2023. Key figures such as Marlene Amstad, Ueli Maurer, Thomas Jordan, and Karin Keller-Sutter are closely scrutinized as the implications of the report unfold.
06:30 26.11.2024
UBS has raised its target price for MTU to €370, maintaining a 'Buy' rating. The stock closed at €318.00, reflecting a 2.48% increase, with trading activity across various exchanges showing slight variations in price. The annual high and low for the stock are €326.10 and €173.75, respectively.
06:27 26.11.2024
India has launched an investigation into Byju’s financial and accounting practices following previous findings of corporate governance issues. The federal government has directed the Registrar of Companies in Hyderabad to examine the company's financial statements for potential misreporting and possible fund misappropriation.
The ASX 200 fell 38 points (-0.45%) to 8380 amid market reactions to the president-elect's tariff plans, which could see a modest increase in tariffs on Chinese imports. Energy stocks declined following a 3.1% drop in crude oil prices, while the banking sector was pressured by APRA's decision to maintain the mortgage serviceability buffer. Despite a slight recovery in iron ore prices, gold stocks suffered losses due to geopolitical developments and fiscal policy changes.
IG
06:18 26.11.2024
The Swiss stock market faced losses, influenced by statements from Trump, with Roche declining after a research setback and Avolta plummeting. In China, export-oriented companies struggled, while the Shanghai stock exchange gained 0.4%. Meanwhile, Japan's Nikkei index fell 1.3%, heavily impacted by chip manufacturers and major car makers.
06:10 26.11.2024
Wall Street showed mixed results as concerns over Trump's proposed high import tariffs on goods from Mexico, Canada, and China loom, potentially impacting markets for the next four years. The Swiss stock market remained undecided, with UBS lagging behind in the SMI. Investors await the latest Fed meeting minutes and upcoming data on personal consumption expenditures, the Fed's preferred inflation measure.
06:10 26.11.2024
Spirit Airlines filed for Chapter 11 bankruptcy protection on November 18, raising concerns among travelers ahead of the busy Thanksgiving holiday. The airline reassured customers that operations would continue normally at all 84 airports, and all tickets, credits, and loyalty points remain valid.
A former accountant, Ng Yu Zhi, is on trial for orchestrating a $1.1 billion nickel scam that has shaken Singapore's business sector. Facing over 100 charges of fraud and money laundering, he allegedly misled hundreds of clients, including prominent figures, into investing in non-existent trades through his Envy Group, which promised average quarterly returns of 15%.
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