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Deutsche Bank is seeking approval for additional share buybacks following a strong performance from its investment bank, which saw an 11% increase in revenue from fixed-income securities and currencies. Additionally, income from advisory services and capital markets activities surged by 24%.
French farmers plan to protest starting November 15, 2024, against the EU-Mercosur trade deal, which they oppose despite the French government's public stance. As the European Commission seeks to finalize the agreement, it is reportedly developing a compensation fund to address farmers' concerns and mitigate resistance from France.
As the U.S. election approaches, Bank of America emphasizes the importance of stock picking over index investing, noting that political outcomes could impact specific market sectors. Meanwhile, Scotiabank identifies three biotech firms poised for significant growth, while European markets are set for a mixed opening amid key earnings reports, including Deutsche Bank's return to profit. Crude oil prices have risen due to geopolitical tensions and China's rate cuts, while gold continues its rally, reaching record highs amid economic uncertainties.
Markets remained subdued as Wall Street awaited corporate earnings, with the US dollar reaching a near two-month high amid inflationary expectations and rising Treasury yields. The AUD/SGD is testing support at the lower wedge trendline around 0.8750, while the EUR/USD is approaching upward trendline support at 1.076, with potential for a bounce if it holds.
France is accelerating its strategic planning in anticipation of a potential second Trump presidency, emphasizing the need for Europe to bolster its sovereignty and defense. A task force led by Tristan Aureau will assess Trump's positions on Ukraine, the EU, and defense, amid concerns he may exploit European divisions to weaken responses to a trade war. The EU is preparing a contingency plan to counteract Trump's expected tariffs and maintain unity among member states.
U.S. markets showed mixed results, with the S&P 500 and Dow slightly down while the Nasdaq rose 0.18%. Global inflation is projected to decrease, but growth remains modest at 3.2% for 2024-2025. General Motors surged nearly 10% after exceeding earnings expectations, while Norway's sovereign wealth fund reported a $76 billion profit. As the U.S. presidential election approaches, market dynamics may shift, prompting investors to be selective in stock trading.
Cyclone Dana is expected to impact the east coast, while PM Modi and Xi Jinping are set to meet at BRICS. In India, the Xiaomi 15 series will launch, and the Mizoram commercial vehicle union plans a one-day agitation. Tomorrow, Rajasthan will host an agriculture pre-summit to attract investments, and German Chancellor Olaf Scholz will visit India. Hyundai Motor India's stock fell over 7% on its market debut, disappointing investors. Additionally, nearly 80 flights received bomb threats within 24 hours, leading to significant disruptions and an estimated Rs 600 crore loss for airlines over nine days.
The global virtual reality software market is projected to grow from $12.76 billion in 2023 to $16.32 billion in 2024, driven by increased adoption in gaming, healthcare, and education. Key trends include the expansion of VR healthcare applications and the rise of remote collaboration tools. Asia-Pacific leads the market, with major players like Microsoft and Qualcomm contributing to its rapid growth.
Plugin vehicles in China achieved a record 53% market share in September, with over 1.1 million sales, marking a 51% year-over-year increase. BYD dominated the market, securing five of the top six spots in sales, while Tesla's Model Y remained a strong competitor. The overall market is projected to reach around 50% electrification by the end of the year, with significant growth in both BEVs and PHEVs.
Sartorius Stedim Biotech shares fell 1.01% to EUR 198.08 on October 22, 2024, despite UBS raising its price target from EUR 194 to EUR 215 after strong quarterly results. Over the past year, shares have increased by 9.62%, although they remain 41.89% below their 52-week high, presenting a potential buying opportunity for investors.
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Deutsche Bank seeks buyback approval after strong investment banking performance
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07:02 23.10.2024
French farmers plan protests as EU Mercosur trade deal advances
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07:00 23.10.2024
election impacts stock market as investors eye earnings and gold rally
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06:40 23.10.2024
us dollar strength impacts aud sgd and eur usd trends
05:20 23.10.2024
France prepares for potential Trump presidency and its implications for Europe
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s and p 500 faces mixed market signals amid slowing growth and inflation
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03:36 23.10.2024
key events shaping the day cyclone dana and international meetings ahead
03:00 23.10.2024
virtual reality software market poised for rapid growth in healthcare and education
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02:30 23.10.2024
China's plugin vehicle sales soar to 53 percent market share in September
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02:14 23.10.2024
ubs raises price target for sartorius stedim biotech shares amid positive outlook
00:14 23.10.2024
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