ASML's share price has faced volatility following disappointing quarterly results, leading to a 15% drop. Despite this, Bernstein Research maintains an "Outperform" rating with a target of €750, while JPMorgan has set a higher target of €1,057, reflecting ongoing investor interest amid industry challenges.
08:42 25.10.2024
U.S. markets showed mixed results, with the S&P 500 and Nasdaq rising due to a 21.9% surge in Tesla shares after positive earnings and growth projections, while the Dow fell, impacted by Boeing and IBM. Asia-Pacific stocks mostly rose, though Japan's Nikkei slipped as inflation hit a six-month low. Major airlines are cutting flights to China amid rising costs and lower demand, while analysts predict a decline in Chinese steel exports due to new tariffs starting in 2025.
Luzerner Kantonalbank (LUKB) reported a 9.1% increase in profit to CHF 216 million in the first nine months of 2024, aided by extraordinary income from a real estate sale. The bank aims for growth targets in 2025, including over CHF 1 billion in new money for its investment business and non-interest income of at least CHF 215 million, amid a challenging interest rate environment.
08:36 25.10.2024
Moody's has upgraded the outlook for EFG Bank's long-term issuer rating to "stable" from "negative," while maintaining the rating at "A3." The long-term deposit rating has been raised to "Aa3" from "A1," and the senior unsecured debt rating to "A2" from "A3," reflecting improvements in capitalization and profitability. The bank's strong liquidity and low debt levels further bolster its financial stability.
08:32 25.10.2024
The IMF declares the inflation battle largely won, noting a significant decline in global price increases without triggering a recession. While central banks, including the Federal Reserve and the European Central Bank, have begun to cut rates, they remain cautious, emphasizing readiness to adjust if inflation trends reverse. The IMF forecasts global inflation will drop to 3.5% by the end of next year, below pre-pandemic averages.
Nuvoco Vistas Corporation reported a net loss for Q2, attributed to low cement demand, leading to a 5% drop in its shares. The company, ranked fifth in India, sold 4.2 million tonnes of cement during the quarter, a decrease from 4.5 million tonnes in the same period last year. As of 11:40 am, shares were trading at Rs 330.5, down 3.4%.
Reports of bullying, discrimination, and other non-financial misconduct in Britain's finance industry increased by nearly 60% over three years leading to 2023. Alarmingly, over one third of firms failed to report such incidents to their boards, according to a regulatory survey.
Thames Water Utilities Ltd. has proposed raising up to £3 billion from creditors to avert entering special administration early next year. The UK's largest water and sewage provider aims to secure additional borrowing, extend maturing debt, and access cash reserves to maintain operating capital through December.
NatWest Group Plc has upgraded its outlook for the year following a third-quarter earnings report that exceeded expectations. The bank now anticipates a return on tangible equity exceeding 15%, up from 14%, and has raised its revenue forecast to £14.4 billion ($18.7 billion), an increase from £14 billion.
ASML Holding shares experienced a significant decline of 15.6% last week, reaching a yearly low of EUR 624.80, before a slight recovery. Currently, the stock is constrained between the August low of EUR 657.00 and the September low, with potential upward movement requiring a rise above EUR 668.70. Conversely, falling below EUR 657.00 could lead to further declines towards EUR 600.
08:25 25.10.2024
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