Gold prices exceeded $2,700 for the first time amid expectations of monetary easing and safe-haven demand due to U.S. election uncertainties and Middle East conflicts. Spot gold reached $2,714 per ounce. The rise in geopolitical tensions is prompting investors to seek gold. Both spot silver and platinum also saw gains, similarly to gold futures.
Posts in category Economic Times
Wall St Week Ahead: Wall Street zeroes in on semiconductors after turbulent week (19-10-2024)
U.S. semiconductor stocks are under close scrutiny after mixed reports from international tech leaders triggered market volatility. Upcoming earnings from Texas Instruments, Lam Research, and Advanced Micro Devices are crucial for gauging future demand, especially in AI applications, which directly influence overall market trends.
Dow and S&P end at fresh record highs, lifted by Netflix earnings and tech stocks (19-10-2024)
The Dow Jones, S&P 500, and Nasdaq posted record highs, driven by strong Netflix earnings and gains in tech stocks. Netflix surged 11.1%, boosting the communication services sector. Despite some concerns over valuation and potential volatility, positive economic data and robust corporate results supported the market rally.
Tech Mahindra Q2 Results: Profit zooms 153% YoY to Rs 1,250 crore, revenue up 3.5% (19-10-2024)
Tech Mahindra Q2 Results: Tech Mahindra reported a 153.1% YoY surge in Q2 net profit to Rs 1,250 crore, with revenue increasing 3.5% YoY to Rs 13,313 crore. The Mahindra Group firm declared an interim dividend of Rs 15 per share. PAT margin rose, with new deal wins totalling $603 million.
Waaree Energies raises Rs 1,277 crore from anchor investors ahead of IPO (18-10-2024)
Waaree Energies raised Rs 1277 crore from 92 anchor investors ahead of its IPO, allocating 84.95 lakh shares at Rs 1,503 each. Funds will be used for a 6 GW manufacturing facility and general corporate purposes. Revenue and profit surged significantly in Fiscal 2024.
L&T Finance Q2 Results: Net profit rises 17%; expects challenging six months ahead (18-10-2024)
Non-bank lender L&T Finance reported a 17% rise in consolidated profit after tax, reaching Rs 696 crore. The company’s assets grew by 18%, with retail disbursements up 12%. Facing sectoral challenges, the firm aims to prioritize credit outcomes, maintaining stable net interest margins and reducing the cost of funds.
Europe’s STOXX 600 ends week higher as tech stocks rebound (18-10-2024)
Europe’s STOXX 600 closed higher on Friday, boosted by tech stocks and an ECB rate cut. The tech sector rose 2%, despite earlier losses after ASML’s weak forecast. Copper prices lifted basic resources shares. Luxury stocks also gained. However, Goldman Sachs cut its 2024 earnings growth forecast for the STOXX 600 to 2%.
RBI lifts share and bond funding restrictions on JM Financial Products (18-10-2024)
The Reserve Bank of India (RBI) has lifted its ten-month-long restrictions on JM Financial Products, a subsidiary of JM Financial, after a special audit and rectification of regulatory and governance lapses. The company assures continued adherence to compliance standards in its financing activities.
These 6 stocks hit fresh 52-week highs, rallied up to 34% in a month (18-10-2024)
A 52-week high marks the highest price a stock has reached over the past year, providing valuable insights for traders and investors. This metric aids in evaluating a stock’s current value and estimating its future potential.