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UBS raises Tesla price target to 226 while maintaining sell rating

UBS has raised its price target for Tesla to $226 from $197 while maintaining a Sell rating. The stock has surged 40% since the U.S. election, adding over $350M in market cap, but UBS cautions that the removal of EV consumer tax credits could negatively impact demand. Despite improvements in Full Self-Driving technology, the firm believes it is not yet ready for widespread robotaxi deployment, attributing the stock's rise mainly to momentum.
Yahoo Finance
Tesla, Inc. USA
TradFi, Market Report
12:55 26.11.2024

vinfast reports narrowed losses and increased revenue from higher ev sales

VinFast Auto Ltd. reported a narrowed net loss of 13.25 trillion dong ($521.3 million) in the third quarter, marking a 14.8% decrease from the previous year. The improvement in financial performance is attributed to a significant increase in electric vehicle sales.
bloomberg.com
United States Dollar Vietnamese Đồng VinFast Auto Ltd. VNM
Finance & Economy, Market Report
12:55 26.11.2024

Banco BPM rejects UniCredit's takeover bid citing profitability concerns

Banco BPM has rejected UniCredit's unexpected €10 billion ($10.5 billion) takeover offer, stating it does not reflect its profitability or potential for growth. The board expressed concerns over the rapid timeline of a merger, which could undermine the bank's legal autonomy and expansion plans, particularly in Germany. UniCredit's CEO emphasized the need for larger banks in Europe to enhance economic competitiveness, while the Italian government has shown mixed reactions to UniCredit's ambitions.
CNBC
Euro UniCredit S.p.A. Banco BPM S.p.A. Commerzbank AG Banca Monte dei Paschi di Siena S.p.A. ITA DEU Andrea Orcel Giancarlo Giorgetti Show more
Finance & Economy, News Article
12:54 26.11.2024

ubs moves to acquire full control of securities joint venture in china

UBS is in the process of acquiring the remaining 33% stake in its securities joint venture in China, UBS Securities, from Beijing State-owned Assets Management (BSAM), which currently holds that stake. In exchange, UBS plans to divest its 51% stake in CS Securities to a Chinese state-owned entity. This move follows UBS's strategic reorganization in China after the Credit Suisse takeover, during which it reduced its stake in CS Securities from 51% to approximately 15%.
Zonebourse
Founder Securities Co., Ltd. UBS Credit Suisse CHE CHN Show more
TradFi, News Article
12:52 26.11.2024

Vedanta to invest 2 billion dollars in Saudi copper projects

Vedanta, led by Anil Agarwal, is set to invest $2 billion in copper projects in Saudi Arabia, including a smelter and refinery with a capacity of 400,000 metric tons per year. The initiative aligns with the growing demand for copper and Saudi Arabia's industrial growth strategy, with operations expected to begin in 2026. A $30 million copper rod mill project will kick off the venture, producing 125 kilotons annually.
Moneycontrol
United States Dollar Vedanta Limited IND SAU Chris Griffith Anil Agarwal
Finance & Economy, Press Release
12:51 26.11.2024

trump's tariff threats spark volatility in currency markets and investor caution

The potential for significant currency market volatility looms as President-elect Trump threatens to impose tariffs on Mexico, Canada, and China, with strategists warning that these moves may serve more as negotiation tactics than actual policy. Analysts predict that such tariffs could lead to a stronger U.S. dollar and increased pressure on foreign currencies, particularly the Mexican peso, which could see dramatic shifts in response to tariff announcements. The market anticipates a prolonged negotiation process, with the possibility of retaliatory measures complicating the landscape further.
CNBC
Mexican Peso British Pound Sterling United States Dollar Canadian Dollar Chinese Yuan ING Citizens, Inc. Maersk The Goldman Sachs Group, Inc. Truth Social Pictet Asset Management AG USA CHN CAN MEX GBR Luca Paolini Scott Bessent Luis Costa Donald Trump Kamakshya Trivedi Claudia Sheinbaum Chris Turner Show more
Finance & Economy, Market Report
12:44 26.11.2024

Iraq Russia and Saudi Arabia Discuss Energy Markets Ahead of OPEC Meeting

Officials from Iraq, Russia, and Saudi Arabia convened in Baghdad to discuss energy markets ahead of the OPEC+ meeting. Iraqi Prime Minister Mohammed Shia Al-Sudani met with Russian Deputy Prime Minister Alexander Novak and Saudi Energy Minister Prince Abdulaziz bin Salman to address key issues impacting the alliance.
bloomberg.com
Saudi Aramco Gazprom SAU IRQ RUS Alexander Novak Abdulaziz bin Salman Al Saud Mohammed Shia' Al Sudani Show more
Finance & Economy, News Article
12:41 26.11.2024

banco bpm rejects unicredit bid citing low valuation and job concerns

Banco BPM SpA has rejected UniCredit SpA's takeover bid, stating it was not pre-agreed, undervalues the bank, and could negatively impact jobs and competition in Italy. The board unanimously deemed the offer inadequate, emphasizing the potential for greater value creation for shareholders.
bloomberg.com
UniCredit S.p.A. Banco BPM S.p.A. ITA
Finance & Economy, Press Release
12:41 26.11.2024

Swiggy shares rise 7 percent as UBS initiates buy rating

Swiggy's share price surged 7% following UBS's initiation of coverage with a 'buy' rating, citing a price target based on discounted cash flow and multiples. Analysts noted that Swiggy's market share is stabilizing, with volume growth in 2024 aligning with industry trends and improving margins. They project Swiggy's GMV growth from FY24-27E to match Zomato's, with adjusted EBITDA margins reaching 2.8% by FY27E.
@bsindia
SWIGGY LIMITED Zomato Limited IND
TradFi, Market Report
12:39 26.11.2024

vedanta to invest two billion dollars in saudi copper projects

Vedanta plans to invest $2 billion in Saudi Arabia to establish copper-processing facilities, enhancing the kingdom's goal of becoming a global metals and mining hub. The investment includes a new smelter and refinery with a capacity of 400,000 metric tons per year, along with a facility to produce 300,000 tons of copper rods annually, essential for electric cables.
bloomberg.com
United States Dollar Vedanta Limited IND SAU Anil Agarwal
Finance & Economy, Press Release
12:30 26.11.2024
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