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karnataka bank shows potential for growth with buy recommendation and target price

Anand Rathi has maintained a Buy recommendation for Karnataka Bank, setting a 12-month target price of Rs 298. Despite a 19% quarter-on-quarter decline in core operating profits due to lower margins and fees, improved asset quality and expected mid-teen credit growth suggest strong future earnings, with return on assets likely to remain around 1%.
Moneycontrol
Indian Rupee The Karnataka Bank Limited IND Anand Rathi
Finance & Economy, Market Report
08:26 24.10.2024

bank of japan meeting to assess potential year-end rate hike decisions

The Bank of Japan's monetary meeting on October 30-31, 2024, is anticipated to maintain current rates, with a potential 0.10% hike in December being a possibility. Governor Kazuo Ueda's cautious stance on inflation and growth, alongside uncertainties from the US elections, may influence future rate decisions. Market participants are closely watching economic forecasts and the widening US-Japan bond yield differentials, which have strengthened the USD/JPY, while the Nikkei 225 faces upward trendline support amid limited risk-taking.
IG
Japanese Yen United States Dollar Federal Reserve Bank of Boston N.A. Bank of Japan JPN Kazuo Ueda Show more
TradFi, Market Report
08:24 24.10.2024

nvidia shares retreat after reaching new all-time high

NVIDIA shares experienced a setback after reaching a record high of USD 144.42, following a strong October where they gained approximately 14%. The stock is now facing resistance at the June high of USD 140.76, with potential support levels identified at USD 136.15 and USD 131.26. Further declines could lead to a significant pullback towards the June downtrend line.
4investors
United States Dollar NVIDIA Corporation USA
TradFi, Market Report
08:24 24.10.2024

hyundai motor reports profit decline amid slowing demand and rising competition

Hyundai Motor reported a 7% decline in third-quarter operating profit, falling short of forecasts, as global demand for cars slows and competition intensifies. The company maintained its 2024 earnings target despite a 5% drop in global retail sales, primarily due to warranty costs and increased sales incentives. Shares fell over 5% following the announcement, reflecting investor disappointment amid a challenging automotive market.
CNBC
United States Dollar BMW Bank GmbH General Motors Company Hyundai Motor Mercedes-Benz Group AG Kia Corp Volkswagen AG KOR IND GBR USA Donald Trump Lee Seung-jo Joe Biden Show more
Finance & Economy, Market Report
08:22 24.10.2024

Uttar Pradesh aims for 32 lakh crore GDP by 2025 and job growth

Uttar Pradesh Chief Minister Yogi Adityanath announced that the state's GDP is expected to reach Rs 32 lakh crore by March 2025, contributing to India's goal of a USD 5 trillion economy and creating employment for 1.5 crore youth. He highlighted the achievement of 75 GI tags across 75 districts, with Varanasi at the forefront, and emphasized initiatives to establish the state as a major logistics hub, including a multimodal terminal in Varanasi and a proposed hub in Gautam Buddha Nagar.
Moneycontrol
Indian Rupee Amazon.com, Inc. Apple Inc. Google Inc. IND Gautam Buddha Nagar Yogi Adityanath Show more
Finance & Economy, Press Release
08:22 24.10.2024

DAX index continues downward trend amid lack of fresh market momentum

The DAX index continued its downward trend, closing at 19,378 after fluctuating between 19,330 and 19,465. The index remains in a consolidation zone around 19,400, with potential upward movement above 19,492, while support is noted at 19,250, with further levels at 19,088 to 18,912.
4investors
SAP SE Volkswagen AG Daimler 16 eGbR Deutsche Bank Aktiengesellschaft Bayer AG Siemens Energy AG Commerzbank AG Deutsche Telekom AG Allianz SE DEU Show more
TradFi, Market Report
08:20 24.10.2024

BJP accuses Congress of tax discrepancies in Priyanka Gandhi's election affidavit

The BJP has accused Congress of "tax theft," highlighting alleged discrepancies in Priyanka Gandhi Vadra's election affidavit for the Wayanad Lok Sabha by-poll. BJP spokesperson Gaurav Bhatia claimed that her husband, Robert Vadra, has significantly understated his assets and owes over Rs 80 crore in taxes. Priyanka's affidavit reveals her movable assets total Rs 4.27 crore, including bank deposits, mutual fund investments, a Honda CRV car, and gold worth Rs 1.15 crore.
Moneycontrol
Indian Rupee Honda Motor Co., Ltd. Election Commission of India IND Priyanka Gandhi Vadra Mallikarjun Kharge Sonia Gandhi Robert Vadra Rahul Gandhi Show more
Finance & Economy, News Article
08:19 24.10.2024

Modest economic growth amid shifting inflation dynamics and central bank insights

The latest Federal Reserve Beige Book indicates a modest economic growth, aligning with economists' projections, while consumers show resistance to profit-led inflation. Bank of England Governor Bailey noted unexpected disinflation, highlighting the disconnect between economic cycles and margin expansions. Business sentiment surveys suggest dire outcomes for manufacturing that have not materialized, as central bank speaker fatigue begins to set in among markets.
The authors of the latest Federal Reserve Beige Book are clearly followers of TikTok memes. The economy was described as being modest and demure (actually as growing at a “slight or modest pace” but it amounts to the same thing). The benign growth story fits with most economists’ central projections. On inflation, anecdotes suggested a more concerted resistance to profit-led inflation from consumers.
United States Dollar ECB Federal Reserve Bank of Boston N.A. Bank of England Lane Paul Donovan Bailey Show more
TradFi, Market Report
08:19 24.10.2024

applied nutrition raises 204 million in london ipo debut

Applied Nutrition Plc raised £157.5 million ($204 million) in its initial public offering, boosting London's capital market. The protein-shake maker priced its shares at 140 pence, valuing the company at approximately £350 million as it prepares to trade on the London Stock Exchange under the symbol APN LN.
bloomberg.com
British Pound Sterling Applied Nutrition plc GBR
Finance & Economy, Market Report
08:19 24.10.2024

barclays reports higher than expected pre-tax profit driven by trading revenue

Barclays Plc reported a surprising increase in pre-tax profit, driven by a rise in trading revenue during the third quarter amid heightened market volatility. Fixed-income trading saw unexpected gains, while stock trading generated £692 million, exceeding analyst estimates of £688 million.
bloomberg.com
British Pound Sterling Barclays PLC GBR
Finance & Economy, Market Report
08:18 24.10.2024
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