stockexchange
Mazagon Dock Shipbuilders, the Indian state-owned war-ship building company has been at the forefront of the rally being witnessed by most Indian defence stocks collectively. After its impressive earnings on Wednesday which saw the company more than doubling its profit since last year, analysts believe the stock will remain turbo-charged and have placed renewed bets on it. This comes after the stock has shown some correction from its peak, allaying concerns of being overvalued. The stock remains relatively overvalued though. Also, while there have been concerns earlier of the stock being overb...
Invezz
Japanese equities traded higher on Tuesday, driving gains across Asia as they recovered significantly from a global market sell-off on Monday that wiped out billions globally. The Nikkei Stock Average in Tokyo closed 10.2% higher on Tuesday, recovering a major part of the losses that it incurred a day before when it fell by almost 13%. The decline happened amid a wild sell-off triggered majorly by weak US jobs data hinting at the economy heading towards recession and anticipating a series of rate cuts by the Federal Reserve. The increase in interest rates in Japan further led to the unwinding ...
Invezz
The US stock market faced significant declines as trading entered its final hour on Monday, continuing a recent trend of heightened volatility. The S&P 500 fell by 3.3%, with its losses fluctuating throughout the day. During the morning session, the index was down as much as 4.3%, but by lunchtime, it had managed to reduce its decline to approximately 1.8%. S&P 500 and Nasdaq Composite lead declinesThe S&P 500’s drop of 3.3% reflects the broader market’s struggles, but the technology-heavy Nasdaq Composite faced even more severe losses. The Nasdaq was down 3.8% as tech stocks, which have been ...
Invezz
Global markets experienced a significant upheaval as traders reacted to recent economic data, unwinding bets that had dominated much of the year. Japan’s Topix index suffered a dramatic fall of more than 12%, marking the most substantial sell-off since the “Black Monday” crash of 1987. This selling wave extended into US and European markets, with Wall Street’s S&P 500 dropping around 4%. Why the stock sell-off?The primary catalyst for this market turmoil was recent economic data, which challenged the prevailing belief that global policymakers, particularly the US Federal Reserve, could cool in...
Invezz
The CBOE Volatility Index or VIX, which throws up market expectations for volatility over the next 30 days surged to its highest level in four years as global equities fell sharply. Investors use the VIX- dubbed as the ‘Fear Index’ to measure the level of risk, fear, or stress in the market when making investment decisions. Based on S&P 500 index options, the VIX was up by more than 172% on Monday morning, touching levels above 63. However, it later cooled to levels of 55. This puts the VIX up a whopping 340% from a month ago, implying the erasure of trillion dollars worth of market cap at the...
Invezz
Japanese stocks witnessed an unprecedented plunge on Monday with the Nikkei 225 index dropping almost 13% in its largest-ever single-day decline, sending shockwaves through global markets and raising concerns about a looming US recession. The broader Topix index also fell by up to 11%, erasing all its gains for the year. By Friday, the Nikkei 225 had already experienced its most significant one-day points fall since the 1987 crash, plummeting more than 4,600 points. The market frenzy led to the suspension of trading in both Topix and Nikkei futures as they hit “circuit breaker” levels, which a...
Invezz
Intel Corp (NASDAQ: INTC) has been striving to establish itself as a significant player in the artificial intelligence (AI) sector. However, Eric Ross, Chief Investment Strategist at Cascend Securities, warns that Intel is not truly an AI stock. Ross criticizes Intel for lagging in process technology advancements over the past decade, which has contributed to the company’s disappointing earnings for its second financial quarter. In Q2, Intel reported a 3% year-on-year decline in its data center revenue, suggesting that AI may not be the expected growth driver for the semiconductor giant. Follo...
Invezz
US stocks faced significant selling pressure Thursday afternoon, driven by disappointing economic data and a sharp decline in chip stocks. This led to losses across all three major indexes, following the Federal Reserve’s indication of a likely rate cut in September. The S&P 500 declined nearly 1.5%, and the Nasdaq Composite reversed its earlier gains, falling almost 2.5% after a strong close on Wednesday. The Dow Jones Industrial Average saw a drop of nearly 600 points, or 1.4%. If this trend continues, it could mark the worst day of the year for the market. Entering the week, investors were ...
Invezz
French cosmetic giant L'Occitane International has announced it is to delist its shares from the Hong Kong Stock Exchange (HKEX), and take them back into private hands. The company has blamed the rising competition in the luxury goods market, as well as the complications of operating as a listed company. In April of this year, L'Occitane's majority stakeholder Reinold Geiger offered €1.7bn to take over the remaining 28% of the company, with extensive financial backing from Goldman Sachs and Blackstone. At the time, the company was valued at some €6bn. L'Occitane International has now revealed ...
Euronews (English)
EasyJet delivered a 16% rise in year-over-year profit in its third-quarter as a result of strong summer travel demand. The airline said in a trading update on Wednesday that more customers looking for budget holidays also provided a boost. Profit before tax came in at £236m (€280m) for the three months ended 30 June, compared with £203m (€241m) reported a year earlier. EasyJet said the outlook for its fiscal 2024 is positive. Meanwhile, the low-cost airline's revenue per seat for the quarter was up 1% and it said that trend is expended to continue into the fourth quarter.
Euronews (English)
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