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Diageo PLC shares surged over 2% after UBS analyst Sanjeet Aujla upgraded the stock from Sell to Buy, raising the price target from 2,300p to 2,920p, anticipating a 12% growth. UBS highlighted the strong performance of Don Julio Reposado tequila and Crown Royal Blackberry whisky, predicting U.S. sell-out growth of over 3.6% in early 2025, despite a challenging market. The consensus rating for Diageo remains a Moderate Buy, with a target price of 2,790.58p, indicating a 7% upside.
Food prices, while still elevated, may decline if costs after production decrease, such as labor savings or reduced retailer profit margins. Profit-led inflation has stabilized, but cutting profit margins could lead to lower prices for consumers. Additionally, over time, consumers may adjust their perception of what constitutes a "fair" price, potentially accepting higher levels as normal.
Food prices, while still elevated, may decline if costs after production decrease, such as labor savings or reduced retailer profit margins. Profit-led inflation has stabilized, but cutting margins could lead to lower consumer prices. Additionally, consumers may eventually adjust their perception of what constitutes a "fair" price.
Wall Street paused amid a higher-than-expected US producer price index and weaker jobless claims, yet a year-end rally remains possible. Key events include the Fed's anticipated 25 bp rate cut, the BoJ's potential rate hike with dovish guidance, and the BoE's expected hold at 4.75%. Additionally, the US core PCE price index is projected to rise to 2.5% in November.
IG
Tech stocks are leading gains in US equity futures, indicating a positive end to the week as traders anticipate the final Federal Reserve interest-rate decision of the year. The Nasdaq 100 contracts rose 0.5%, while the S&P 500 paused its 27% rally with a 0.5% decline, marking the longest streak of declining stocks since 2004.In Europe, the Stoxx 600 index slipped 0.1%, and Asian stocks fell amid subdued market sentiment following China's Central Economic Work Conference, which lacked specific fiscal stimulus details. Despite an 8% rise in the Stoxx 600 this year, forecasts suggest European stocks will continue to lag behind US equities in 2025.
AgriDex, a Solana-based tokenization platform for agricultural commodities, has raised $4 million in a funding round led by Portal Ventures, bringing its total funding to $9 million. The platform aims to tokenize $4.5 billion in trade commitments and expand into new commodities, while enhancing supply chain transparency through NFTs. The AGRI token recently launched and is trading at approximately $0.1001, with plans for a community airdrop and increased ecosystem development.
UBS Group AG has increased its holdings in Adriatic Metals Plc, raising its voting rights from 5.89% to 6.43%. This change reflects a stronger position for UBS within the company, which operates in the mining sector focused on mineral resource exploration and development. Adriatic Metals currently has a market cap of £676.2M and a year-to-date price performance of -1.67%.
UBS Group AG has reduced its voting rights in Spirent Communications from 7.08% to 5.61%, signaling a strategic shift that may affect the company's governance and stakeholder interactions. Spirent, a UK-based telecommunications firm, specializes in test, measurement, and assurance solutions for network performance and reliability. The company currently has a market cap of £1.03 billion and has seen a year-to-date price performance of 45.99%.
UBS Group AG has reduced its voting rights in Spirent Communications from 7.08% to 5.61%, signaling a strategic shift that may affect the company's governance and stakeholder interactions. Spirent Communications, a UK-based telecommunications firm, specializes in test, measurement, and assurance solutions to enhance network performance and reliability. The company currently has a market cap of £1.03 billion and has seen a year-to-date price performance of 45.99%.
UBS Group AG has reduced its holdings in Revolution Beauty Group plc to below 5%, exempting it from future reporting obligations. This shift may influence market dynamics and investor confidence in the company, which focuses on innovative and affordable beauty products. Year-to-date, Revolution Beauty's stock has seen a decline of 54.06%, with a current market cap of £46.93 million.
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