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.
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.
Donald Trump drives his anti-immigration message in Aurora, Colorado (12-10-2024)
Donald Trump detoured from the battleground states Friday to visit a Colorado suburb that’s been in the news over illegal immigration as he drives a message, often using false or misleading claims and dehumanizing language, that migrants are causing chaos in smaller American cities and towns.
Trump’s rally in Aurora marked the first time ahead of the November election that either presidential campaign has visited Colorado, which reliably votes Democratic statewide.
The Republican nominee has long promised to stage the largest deportation operation in U.S. history and has made immigration core to his political persona since launching his first campaign in 2015. In recent months, Trump has pinpointed specific smaller communities that have seen large arrivals of migrants, with tensions flaring locally over resources and some longtime residents expressing distrust about sudden demographic changes.
Aurora entered the spotlight in August when a video circulated showing armed men walking .
Easy Trip Planners (Easemytrip) – An outlier in OTA (12-10-2024)
3rd class stock in market
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.
Arman Financial Services Ltd (12-10-2024)
Are people bullish on the stock still buying this?
The stock is at lowest price to book ratio in history (Except Covid). Arman Financial is rarely available at <2 PB.
However, given its peers Satin and Fusion coming to 0.8 PB, I am not getting courage to buy the dip. Because I cannot size the dip. Any other thoughts??
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.