US stock markets hit record highs following the Federal Reserve's support for a significant interest rate cut, while optimism in Australia surged due to China's fiscal policy measures. Key economic indicators showed mixed results, with rising jobless claims and fluctuating inflation rates. Upcoming data releases include employment figures in Australia and retail sales in the US.
IG
05:11 11.10.2024
Frieze London 2024 introduces a new concept to address challenges in the art world, featuring a more welcoming atmosphere with increased seating and collaboration among galleries. Amid rising costs and declining sales, the fair aims to solidify London's status in the global art scene while concerns grow over the potential overshadowing by Art Basel Paris. Notable initiatives include the "Artist-to-Artist" project and the "Smoke" exhibition, showcasing diverse artistic expressions.
VPBank has secured a US$150 million loan agreement aimed at financing clean energy projects. This initiative underscores the bank's commitment to supporting sustainable development and enhancing the renewable energy sector. The funding is expected to facilitate various environmentally friendly initiatives.
04:28 11.10.2024
VPBank has signed a $150 million loan agreement with the Japan Bank for International Cooperation (JBIC) to finance renewable energy and power transmission projects in Vietnam, supporting the country's goal of achieving net-zero emissions by 2050. The partnership, announced on October 9, aligns with the Asia Zero Emissions Community initiative and the Just Energy Transition Partnership, reinforcing Vietnam-Japan relations in finance and investment. VPBank continues to lead in sustainable finance, having previously secured significant international loans for environmental initiatives.
03:25 11.10.2024
The recent FOMC minutes reveal a cautious Federal Reserve, supporting the US dollar as expectations for aggressive rate cuts are tempered. With the upcoming CPI data and speeches from Fed officials, market sentiment remains focused on potential shifts in monetary policy amid global uncertainties and a looming US election. The EUR/USD pair faces downward pressure as the ECB prepares for rate cuts, while the dollar's strength is bolstered by geopolitical factors and resilient economic data.
IG
02:40 11.10.2024
US indices, including the Dow, are performing strongly ahead of inflation data, with the Dow reaching a new record closing high. The DAX has also gained momentum, bouncing from 19,000, while the Nikkei 225 struggles to break above 40,000, facing selling pressure despite holding above trendline support.
IG
02:38 11.10.2024
EUR/JPY is testing the ¥162.89-to-¥164.24 resistance zone, with a potential bullish reversal if surpassed. Meanwhile, USD/JPY is also probing key resistance levels. AUD/USD, after five consecutive declines, seeks support around the 55-day SMA at $0.6711 and the August low at $0.6698.
IG
02:38 11.10.2024
Upstream Bio has priced its IPO at $255 million, selling 15 million shares at $17 each, to fund the development of its antibody drug targeting respiratory diseases. The company aims to challenge existing asthma treatments, with plans to report Phase 2 results for its drug, verekitug, in 2025. This IPO reflects a growing investor interest in immunology-focused biotech firms, with a notable increase in offerings this year.
Teva Pharmaceuticals has agreed to pay $450 million to settle allegations from the Department of Justice regarding illegal kickbacks related to co-pays for Medicare patients and price-fixing of generic drugs. The settlement underscores the government's firm stance that such payments are considered inducements, regardless of their intended purpose. The fine reflects Teva's financial capacity, as stated by the DOJ.
VP Bank shares have shown stability, currently priced at EUR 75.50, despite an annual loss of 16.85%. The bank plans to distribute a dividend of EUR 5.00 per share for 2024, yielding 5.46%, while the forecasted P/E ratio stands at 17.16, indicating moderate valuation. Investors are urged to consider their options as new analyses suggest a need for action.
01:32 11.10.2024
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