Kering SA is looking to the "Demure Fall" TikTok trend to revitalize its flagship brand, Gucci. This aesthetic, characterized by quiet luxury with a twist, aligns closely with the vision of Gucci's creative director, Sabato de Sarno.
The Bloomberg Tech Summit in London showcased key figures from the semiconductor industry, including ASML's CEO Christophe Fouquet and Arm Holdings' Rene Haas. Discussions centered on technology challenges, including US pressure on allies to limit chip sales to China, which remains focused on mainstream chip production. ASML, facing a decline in orders and a cut in its annual outlook, continues to dominate the advanced semiconductor manufacturing market.
The Bank of Russia is expected to raise its key interest rate to 20% in an effort to combat soaring inflation, a level last seen after the invasion of Ukraine. Economists predict this increase, while only two out of 11 analysts foresee the rate remaining at 19%, with some suggesting a potential for a larger hike.
Norway's struggling krone may strengthen if the central bank implements changes to its currency reserve management. Analysts suggest that a rebound could occur if Norges Bank begins purchasing the krone in response to a new government liquidity management policy, expected to be decided by early next year.
Lucerne Cantonal Bank (LUKB) reported a 9.1% increase in net income to 216 million francs in the first nine months of 2024, bolstered by strong loan demand and an extraordinary gain from the sale of its real estate division. Despite a decline in trading income, operating profit rose by 5% to 237.1 million francs, with customer loans reaching 42.98 billion francs. Looking ahead, LUKB aims for significant growth in net new money and non-interest income by 2025, while maintaining a cost-income ratio below 50%.
Yes Bank, Tata Power, and Reliance Power experienced significant declines in shareholder numbers, with Tata Power losing over 64,000, Yes Bank 54,000, and Reliance Power more than 47,000. In contrast, Tata Steel gained nearly 800,000 new investors, followed by Tata Motors with 700,000 and Vodafone Idea with 600,000. Other notable increases included IRFC (390,000), NHPC (260,000), and Jio Financial Services (55,000).
Septerna, a GPCR-focused biotech, raised $288 million in its IPO, pricing shares at $18 each, above the initial range. The company aims to advance its lead drug candidate, SEP-786, for hypoparathyroidism, with human testing underway and data expected in 2025. This marks a significant moment in a busy period for biotech IPOs, with Septerna being the 23rd this year.
Coinbase Global Inc. is set to report its Q3 2024 earnings on October 31, with revenue expectations at $1.253 billion and EPS estimated at $2.56. The company faces challenges from rising operational expenses and fluctuating Ethereum prices, while planning cautious headcount growth to support expansion. Analysts project an average price target of $255.23 for Coinbase shares, indicating a potential 21.12% increase from the current price of $210.72.
IG
05:51 25.10.2024
The Philippines is enhancing its capital market by reintroducing interest rate swaps and expanding bond repurchase agreements to create alternative loan pricing benchmarks. This initiative aims to support financing for major projects, including a potential nuclear facility revival and infrastructure development, while reducing reliance on bank loans. Bangko Sentral ng Pilipinas Governor Eli Remolona is leading these efforts to sustain the country's rapid economic growth.
US equity markets are set for their first losing week in seven, driven by profit-taking ahead of major tech earnings and rising national debt yields. The ASX 200 is also expected to close negatively, influenced by Wall Street losses. Key economic indicators, including the US GDP and job data, are due next week, alongside inflation reports from Australia and Europe.
IG
05:48 25.10.2024
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