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Goldman Sachs has raised its target price for HSBC Holdings to $93, citing upside risks to net interest income due to sustained high policy rates in developed markets. The firm also noted the new CEO's cost-saving plan, which aims to cut $800 million by streamlining senior staff, while emphasizing the need to assess the Corporate and Institutional Banking division's internal processes and interdepartmental relationships.
HSBC Holdings executed a bullish block trade of 136,000 shares at $79.55, resulting in a turnover of $10.819 million. Goldman Sachs has raised the target price for HSBC to $93, citing potential upside risks in market net interest income forecasts. Additionally, HSBC repurchased 2.5 million shares for approximately $200 million last Tuesday.
UBS Group forecasts gold prices could reach $2,900 an ounce by the end of 2025, driven by central bank reserve increases and strategic investments amid macroeconomic volatility and geopolitical risks. Despite potential consolidation due to a stronger dollar and interest rate concerns, gold is expected to recover, with a further rise to $2,950 by the end of 2026. Currently trading at around $2,630 an ounce, gold has seen a 28% increase this year, supported by central bank accumulation and geopolitical tensions.
Gold has surged 28% in 2024, trading near $2,630 an ounce, driven by central bank purchases, a shift to monetary easing by the Federal Reserve, and geopolitical tensions. Goldman Sachs predicts gold will reach $3,000 an ounce by the end of next year, supported by ongoing demand from monetary authorities. UBS also notes that central banks are likely to continue increasing their gold reserves for diversification amid rising geopolitical risks.
IndiGo and SpiceJet shares rose by 3% as domestic air traffic surpassed 500,000 passengers in a single day for the first time. Goldman Sachs has maintained a "buy" rating on IndiGo, setting a target price of Rs 4,800 per share, with air traffic growth in October and November at 10% and 11%, respectively. IndiGo"s passenger load factor (PLF) improved to 90%, up from 85.6% last year.
Goldman Sachs maintains its forecast of $3,000 per ounce of gold by December 2025, while UBS targets $2,900, citing US political uncertainty and structural demand from central banks as key factors. Both banks recommend gold as a hedge against inflation and geopolitical risks, with UBS suggesting a 5% allocation in a balanced dollar portfolio. They also see $2,500 as a strong support level for gold prices.
Goldman Sachs maintains its forecast for gold at $3,000 per ounce by December 2025, citing structural demand from central banks and potential Fed rate cuts as key drivers. UBS is slightly less optimistic, targeting $2,900, and suggests capitalizing on price declines, with strong support at $2,500. Both firms highlight gold as a hedge against inflation and geopolitical risks, recommending a 5% allocation in a balanced dollar portfolio.
Goldman Sachs maintains its forecast for gold to reach $3,000 per ounce by December 2025, citing strong structural demand from central banks and potential Fed rate cuts as key factors. UBS is slightly less optimistic, predicting a price of $2,900 and suggesting that current declines present a buying opportunity, with strong support at $2,500. Both firms highlight gold"s role as a hedge against inflation and geopolitical risks.
Societe Generale sold a 0.11% stake in Ramkrishna Forgings, while Think India Opportunities Master Fund LP purchased the same amount at Rs 922.8 per share. In another transaction, BNP Paribas acquired 0.05% of PNB Housing Finance, matching Goldman Sachs' sale of the same percentage at Rs 914.75 per share. ISENGARD Direct PE LLC offloaded 1.85% of Nectar Lifesciences at Rs 34.02 per share.
Valencia CF has secured a refinancing deal for €186 million ($196 million) in existing debt, facilitated by Goldman Sachs. This move aims to generate funds for a new stadium in preparation for the 2030 FIFA World Cup, with preliminary plans already underway.
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