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European Stocks Largely Flat; Ryanair Reports Record June Numbers
European stock markets traded largely unchanged Tuesday, with investors searching for cues given a light data calendar and a U.S. holiday. At 03:30 ET (07:30 GMT), the DAX index in Germany traded flat, the CAC 40 in France rose 0.1%, while the FTSE 100 in the U.K. traded largely unchanged. There’s little economic data due […]
Audi Ex-Boss Becomes First VW Board Member Sentenced Over Diesel Scandal
Former Audi boss Rupert Stadler was handed a suspended sentence of one year and nine months by a Munich court on Tuesday for fraud by negligence in the 2015 diesel scandal, becoming the first former Volkswagen (ETR: VOWG_p) board member to receive such a sentence. The ex-boss was fined 1.1 million euros ($1.20 million), which […]
Tesla Stock Is No Longer a Buy At Goldman Sachs; Shares Slip
Goldman Sachs analysts downgraded Tesla (NASDAQ:TSLA) stock to Neutral from Buy following a massive year-to-date rally in the electric vehicle (EV) maker’s stock. Still, they raised the price target to $248 per share from the prior $185, reflecting increased EPS estimates and a higher target multiple. The analysts remain positive on Tesla’s long-term growth potential […]
Dollar Steadies After Powell’s Testimony; Sterling Awaits BOE Meeting
The U.S. dollar stabilized in early European trade Thursday near a one-month low after the first day of Federal Reserve Chair Jerome Powell’s semi-annual testimony to Congress, while sterling edges lower ahead of the latest Bank of England meeting. At 01:50 ET (05:50 GMT), the Dollar Index, which tracks the greenback against a basket of […]
Can HDFC AMC make it Back to The MSCI Index After Abrdn Stake Sale?
Abrdn’s clean-up block trade of a 10.2 percent stake in HDFC AMC will increase the company’s free float market capitalisation but the stock has to rally over 10 percent from the current level to make it back to the MSCI index. “As per the latest global market cap cut-off, HDFC AMC needs to move above […]
Stocks Rally Stalls, Eyes Powell Testimony For Rate Clues
Global shares drifted on Monday, consolidating gains after hitting a 14-month high last week, as investors awaited testimony from U.S. Federal Reserve Chair Jerome Powell in markets that remain dominated by monetary policy bets. The MSCI’s broad gauge of world stocks was steady, with Wall Street markets closed for the Juneteenth holiday. In Europe, the […]
Global banks raise forecast to 4% peak for key ECB rate
Goldman Sachs (NYSE:GS), BNP Paribas (OTC:BNPQY), Uncredited (BIT:CRDI) and RBC Capital Markets had earlier expected the ECB’s terminal rate to peak at 3.75%, following a 25 basis points (bps) hike in July, they said in notes after the central bank meeting. The ECB raised euro zone borrowing costs to their highest level in 22 years […]
4 Big Analyst Picks: Accenture Upgraded To Neutral Ahead of Q3 Earnings
Earlier this week, the company announced a $3 billion investment over three years in its Data & AI practice. The expansion includes new industry solutions, the AI Navigator for Enterprise platform, a Center for Advanced AI, and doubling their AI talent to 80,000 people. The company is set to report its Q3/23 earnings on June […]