The strategic sale of IDBI Bank is set to proceed smoothly following the Reserve Bank of India's 'a priori' approval, eliminating potential regulatory hurdles. Due diligence for prospective bidders will commence in November, allowing access to the bank's legal documents and additional information. The finance ministry is focused on maintaining momentum for the sale, ensuring a streamlined process.
Slovenia's President Natasa Pirc Musar has proposed former Prime Minister Anton Rop to lead the central bank, a move that would replace current Governor Bostjan Vasle, who lacks political backing. Rop, also a former finance minister, was selected for his extensive experience in banking and management.
Uber's 2024 India Economic Impact Report reveals that its Moto and Uber Auto services are projected to support Rs 36,000 crore in economic activity. The report highlights the role of these services in connecting commuters to jobs and stimulating local economies through driver spending and rider patronage of local businesses. In 2023, Uber also celebrated reaching a milestone of 1 million drivers in India.
Varun Beverages (VBL) is operating at maximum capacity at its new DRC facility due to strong demand, with plans to double production by August 2025. Despite a 5.7% YoY increase in domestic volumes affected by unfavorable weather, VBL is streamlining its Africa operations and anticipates significant sales from its snack business. The company aims to utilize a proposed fund raise for debt reduction, expansion, and acquisitions, maintaining a HOLD rating with a target price of INR 606.
Lombard Odier is optimistic about Japanese equities, viewing the market as favorable regardless of the US election outcome. John Woods, the firm's Asia chief investment officer, noted that a Trump victory could stabilize or strengthen the dollar, benefiting Japanese stocks, while a win for Kamala Harris would likely eliminate tariffs, further boosting the market.
Gold prices have reached new record highs, with spot gold showing no signs of reversing, targeting previous peaks around $2685.00. Meanwhile, WTI crude oil has rebounded, supported by geopolitical tensions, while natural gas prices continue to recover from early October lows, aiming for a return to the October high at 3120.
IG
11:11 23.10.2024
UBS has maintained its "Buy" rating for Iberdrola, setting a target price of 15.30 euros. Analyst Gonzalo Sanchez-Bordona noted that the utility's third-quarter performance exceeded expectations, particularly in net profit.
11:11 23.10.2024
Sovcomflot PJSC has clarified that three liquefied natural gas tankers, Velikiy Novgorod, Pskov, and La Perouse, transferred to a new Dubai-based company, are not part of the shadow fleet. The management of these vessels was shifted to Matias Ship Management in September, according to shipping database Equasis.
UBS AG has maintained a "Buy" rating for Merck KGaA, setting a target price of €190, following a positive assessment during the company's capital market day. Despite a 1.3% drop to €159.85, the stock still shows an upside potential of 18.86%. Merck's shares have increased by 12.6% since the start of 2024, with Q3 2024 results expected on November 14, 2024.
11:04 23.10.2024
UBS AG has maintained its "Buy" rating for Merck KGaA, setting a target price of €190, following a positive assessment during the company's capital market day. Despite a 1.3% drop in share price to €159.85, there remains an upside potential of 18.86%. The stock has risen 12.6% since the start of 2024, with Q3 2024 financial results expected on November 14, 2024.
11:04 23.10.2024
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