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UBS AG has maintained a "Neutral" rating for BMW shares with a target price of 75 euros, following a disappointing quarterly report that missed low expectations, particularly regarding cash flow. As of 10:12 a.m. in XETRA trading, BMW shares fell 4.0% to EUR 69.72, indicating a potential upside of 7.57% to the target price. The stock has declined by 26.5% in 2024, with quarterly results expected on November 6, 2024.
The Dax index showed stability, rising 0.2% amid concerns over Donald Trump's potential return to the White House, which could lead to protectionist policies affecting European companies. Asian markets fluctuated, with Japan's Nikkei gaining 2.9%, driven by technology stocks, while investors awaited key political meetings in China. In Europe, shares of major car manufacturers fell due to fears of tariffs, despite some companies like Commerzbank and Fresenius reporting positive quarterly results.
Investors are closely watching the upcoming US presidential election, with Kamala Harris slightly leading Donald Trump according to Predictlt. The Federal Reserve and Bank of England are set to announce interest rate decisions this Thursday, while key economic data and corporate earnings reports will also influence market movements. Increased volatility is expected as the election outcome may take time to finalize.
IG
Diwali has sparked a notable increase in demand for premium products across various sectors, including clothing, jewellery, automotive, and high-end real estate. Despite rising inflation, particularly in food prices, consumers are showing resilience and a strong appetite for luxury items, leading to significant sales growth for luxury brands during this festive season.
BMW shares experienced a weak start to the week, falling 0.6% to EUR 75.52 after a previous decline. The stock struggled to break through key resistance levels, and if it falls below the monthly low of EUR 74.02, a further decline towards EUR 70 could occur, with significant support levels at EUR 68.58 and EUR 63.38.
BMW shares experienced a weak start to the week, falling 0.6% to EUR 75.52 after a previous decline. The stock's inability to break key resistance levels has clouded the outlook, with potential for further declines if it falls below EUR 74.02, while a rise above EUR 78.54 could signal recovery.
BMW shares experienced a weak start to the week, declining by 0.6 percent on Friday and falling an additional 0.6 percent to 75.52 euros on Monday. This trend reflects ongoing challenges for the automaker in the current market environment.
Rohan Patel, a former Tesla executive, highlights the contrasting support for electric vehicles (EVs) under Trump and Biden. While Trump’s administration favored foreign-made vehicles and neglected tax credits for early EV leaders like Tesla, Biden's policies revived substantial incentives and support for domestic manufacturing. The NEVI program, with $5 billion allocated over five years, aims to enhance EV infrastructure, while recent reforms to the 30C tax credit significantly boost investments in charging stations.
G7 leaders have agreed to provide $50 billion in loans to Ukraine, with disbursements starting as early as December. The funding will be supported by revenues from frozen Russian sovereign assets, with an additional $20 billion expected from the EU and $10 billion from Canada, Britain, and Japan. Loans will be issued in installments through 2027 to meet Ukraine's urgent financing needs.
German Chancellor Olaf Scholz's visit to India for the 7th India-Germany Inter-Governmental Consultations aims to enhance economic collaboration, particularly in emerging sectors like electric mobility. This visit follows the release of Germany's white paper, ‘Focus on India,’ and underscores the growing partnership in business, defense, and energy. As India seeks deeper European integration and a free trade agreement with the EU, Germany views India as a vital partner to diversify its international ties and reduce reliance on China.
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