European stocks ended Friday at a one-week high as investors focused on China’s stimulus plans, corporate earnings, and an upcoming European Central Bank interest rate decision. Major indexes like STOXX 600, FTSE 100, DAX, and IBEX saw gains, with market attention also on France’s 2025 budget.
Posts in category Economic Times
S&P 500, Dow hit records, boosted by bank earnings surprise (12-10-2024)
The S&P 500 and Dow closed at record highs, boosted by strong earnings from financial companies. JPMorgan Chase, Wells Fargo, and BlackRock led gains. Inflation data also supported expectations for a Federal Reserve rate cut in November. Meanwhile, Tesla shares slumped after unveiling its robotaxi without production details.
JP Morgan raises price targets on telecom Cos (12-10-2024)
JP Morgan has raised price targets for Indian telecom stocks, predicting an 8-38% upside by December 2025. The brokerage upgraded Vodafone Idea to ‘Neutral’ and emphasized potential benefits from anticipated 15% tariff hikes across Bharti Airtel, Bharti Hexacom, and Idea, despite subscriber losses.
Sebi Clarifies on Debt Sale Approval Norms Post Mkt Queries (12-10-2024)
The Securities and Exchange Board of India (Sebi) has clarified that recent amendments to debt sale approvals do not necessitate board approvals for each bond issuance but require the board to be informed prior to opening the issue, addressing operational concerns from market players.
Centre to repurchase up to ₹25,000 crore of Government securities (12-10-2024)
The Centre has announced a buyback auction for up to ₹25,000 crore worth of government securities to be conducted by the RBI on October 17. The auction features five bonds maturing between 2025 and 2026. This follows recent successful buyback operations by the RBI since May.
Housing finance companies may miss out on festive demand (12-10-2024)
Housing finance companies are anticipating a delay in the festive season demand surge due to pending government guidelines on the PMAY and Affordable Housing Refinance Scheme. The PMAY subsidy aims to provide ₹1.80 lakh for home loans up to ₹25 lakh, while the refinance scheme offers a 5% interest rate for housing loans disbursed in the past year.
PSU stocks showing weakness, says CLSA (12-10-2024)
PSU stocks appear technically weak, with the BSE PSU index breaking below the 200-day moving average, indicating potential underperformance. Downside risks are noted in Coal India and Power Finance, with specific target levels for short selling and stop-losses highlighted by analysts from CLSA.
Private Life insurers outshine LIC in September (12-10-2024)
India’s life insurance sector experienced a 14% year-on-year growth in new premium collections last month. Private insurers saw a 16% increase, outpacing LIC’s 12% rise. Among private players, ICICI Prudential Life and Max Life recorded notable growth. This comes amid regulatory changes in surrender charges and increased interest in unit-linked insurance plans.
Transaction between Bajaj Finserv’s unlisted arm and Allianz SE is related party, requires shareholder approval: Sebi (11-10-2024)
Sebi clarified that reinsurance agreement between Bajaj Finserv’s unlisted entity BAGIC and Allianz SE qualifies as a related party transaction. Bajaj Finserv is required to seek shareholder approval and make disclosures under Sebi LODR regulations.
Canada’s TSX touches record high after strong domestic jobs data (11-10-2024)
The Toronto Stock Exchange’s S&P/TSX composite index rose as much as 180.36 points, or 0.74%, in morning trade to touch an all-time high of 24,482.62. The index was set for its fifth consecutive weekly rise.