RBC projects the S&P 500 will reach 6,600 by 2025. However, the firm anticipates a near-term correction of 5% to 10%.
UniCredit's recent takeover bid for Banco BPM has surprised analysts primarily due to its timing, as the bank has been involved in multiple strategic moves, including a bid for Commerzbank and acquiring shares in Banca MPS. Filippo Diodovich from IG Italia suggests that the current offer is low and anticipates a higher bid to attract Banco BPM shareholders. He emphasizes that this acquisition could create significant synergies, enhancing UniCredit's presence in the Italian market by leveraging Banco BPM's local roots alongside its own international expertise.
15:09 25.11.2024
Intel is nearing a deal for an approximately $8 billion grant from the CHIPS Act to support its factory-building efforts, despite a reported $500 million reduction due to concerns over its investment commitments. The company is also set to receive a $3 billion contract from the Department of Defense. Amid significant financial struggles, including a nearly $17 billion loss last quarter and plans to cut 15,000 jobs, Intel's CEO has expressed frustration over the slow disbursement of CHIPS Act funds.
UBS analysts predict that OPEC+ will likely extend its voluntary production cuts beyond December to mitigate potential oversupply and stabilize oil prices. Current market conditions, particularly weak demand from China, suggest that increasing production could push Brent crude prices below $70 per barrel. The IEA anticipates a significant oversupply in 2025, with non-OPEC+ production expected to rise by 1.5 million barrels per day, outpacing global demand growth.
15:05 25.11.2024
UniCredit's public exchange offer for Banco BPM has caught the bank's management off guard, particularly CEO Giuseppe Castagna, who aimed to establish a third banking pole. Analysts suggest that the current offer is low and anticipate a higher bid to attract Banco BPM shareholders. This move is seen as a strategic effort to enhance UniCredit's presence in the Italian market by leveraging Banco BPM's local roots alongside its own international experience.
15:04 25.11.2024
This week’s trading strategy focuses on shorting orange juice futures, targeting a downside of around 455 with a stop loss set at 505. The market has consistently struggled at the psychological 500 mark, suggesting continued resistance and potential for a downward trend.
IG
15:03 25.11.2024
The Basler Kantonalbank (BKB) has announced its role as the official national sponsor of the Eurovision Song Contest (ESC) following the approval of a 35 million Swiss franc loan by Basel voters. BKB aims to create an unforgettable experience for the region, emphasizing the event's potential to enhance creativity, cultural diversity, and community spirit. While details of their financial commitment remain undisclosed, BKB is dedicated to embedding the ESC within the cultural identity of Basel.
15:03 25.11.2024
Israel's central bank maintained its interest rate at 4.5%, reflecting concerns over an economic slowdown due to ongoing conflict and rising inflation. This decision marks the seventh consecutive hold, with the next rate review set for early January 2024.
Two iconic classic cars will be auctioned in February to benefit the Indianapolis Motor Speedway Museum, with total sales expected to exceed $100 million. A 1954 Mercedes-Benz W196 R Streamliner, valued at $50 million, will be auctioned on Feb. 1 in Stuttgart, while a 1965 Ferrari 250 LM, estimated at $30 million, will be sold on Feb. 5 in Paris.
ID.me has successfully closed a tender offer that values the online verification company at $1.8 billion, an increase from its previous valuation of $1.73 billion two years ago. The transaction was led by new investor Ribbit Capital, with participation from existing investors Viking Global Investors and CapitalG.

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