Israel’s government is optimistic about the economy's recovery following the conflicts in Gaza and Lebanon. Shmuel Abramzon, the Finance Ministry’s chief economist, expressed confidence that the fighting will subside, predicting a positive economic outlook for 2025.
Largecaps outperformed the broader Nifty 500 in Q2FY25, with overall earnings declining by 1% due to a consumption slowdown and global volatility, particularly in the oil and gas sector. Financials and IT showed resilience with 14% and 11% growth, respectively, while cement and oil & gas faced significant declines of 56% and 52%. Excluding sectors tied to global commodities, aggregate earnings grew by 10.3%.
UBS has increased its price target for MTU Aero Engines 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.
U.S. stocks rallied to record highs following President-elect Donald Trump’s Treasury secretary pick, Scott Bessent, who is viewed favorably by Wall Street. The S&P 500 rose 0.3%, with small-cap stocks outperforming, while bond yields fell. Trump announced plans for increased tariffs on imports from China, Mexico, and Canada, which could impact trade relations.
Italy’s Bruna Szego has been appointed as the chair of the EU's new anti-money laundering watchdog after a three-hour hearing and debate in the European Parliament. Despite lacking support from the center-right European People’s Party and the Greens, she secured a majority against competitors Marcus Pleyer and Jan Reinder De Carpentier. Szego, the only woman in the race, leads the anti-money laundering unit at the Bank of Italy and has a strong background in linking macroprudential and AML risks.
Tata Teleservices shares surged over 13%, marking their largest intraday gain in three months, driven by a significant increase in trading volumes. With five crore shares traded, the stock reached Rs 77.15 on the NSE, buoyed by a favorable Supreme Court ruling allowing telecom operators to claim Cenvat credits on essential infrastructure duties.
UBS has reduced its price target for 1&1 from 21 to 20 euros while maintaining a "buy" rating. Analyst Polo Tang noted concerns over increasing competition in Germany's low-cost mobile segment, but remains optimistic about the company's long-term prospects due to its partnership with Vodafone.
UBS has reduced its price target for United Internet from 24 to 23 euros while maintaining a "Buy" rating. Analyst Polo Tang noted concerns over increasing competition in Germany's low-cost mobile segment, but remains optimistic about United Internet and 1&1 due to their long-term partnership with Vodafone.
Enviro Infra Engineers' IPO has seen a remarkable subscription rate of 30.32 times on its final bidding day, with non-institutional investors leading at 94.59 times and retail investors at 16.90 times. The IPO, which includes a fresh issue of 3.87 crore equity shares and an offer for sale of 52.68 lakh shares, has garnered bids for 93.37 crore shares against 3.07 crore shares available. Despite a slight decline in grey market premium, shares are trading at a premium of Rs 48, suggesting a potential listing gain of around 32%.
France is reviewing its corporate assets and considering investments in strategic companies, as stated by the finance minister in an interview. This initiative follows the government's proposal to acquire Atos SE's advanced computing division and involves collaboration with the Defense Ministry and Prime Minister Michel Barnier.