January 2023 – TradenTalks

UniCredit Hikes Payout Goal By 40% After Record Rofit

January 31, 2023 Administrator_Indiaauthorisation, including, maximise returns, quarterly profit, remuneration0 comment

UniCredit pledged on Tuesday to return 5.25 billion euros ($5.69 billion) to investors based on its 2022 results after posting a record quarterly profit, as CEO Andrea Orcel works to meet his ambitious payout plans. Orcel, who has focused UniCredit on capital light businesses to maximise returns since taking over in April 2021, expressed confidence in receiving the necessary green light from European Central Bank supervisors. Lenders needs ECB approval for share buybacks, which account for almost two thirds of UniCredit’s 2022 capital distribution target in addition to cash dividends.…

Asian Market

Asia FX Muted, Dollar Steadies As Fed Meeting Looms

January 31, 2023 Administrator_Indiaanticipation, Bank of Japan, currencies, Dollar, U.S. inflation0 comment

Most Asian currencies moved little on Tuesday, while the dollar retained recent gains as caution kicked in ahead of a Federal Reserve meeting this week, with any signals on U.S. monetary policy squarely in focus. But most Asian units were set for strong gains in January amid expectations that the Fed will slow its pace of interest rate hikes in the coming months. Risk-heavy Southeast Asian currencies were the best performers through January, with the Thai baht leading gains among its peers with an over 5% jump. The Chinese yuan…

Oil

Oil prices Tread Water As Markets Weigh China Recovery, Fed Caution

January 31, 2023 Administrator_Indiaanticipation, greenback, headroom, optimism0 comment

Oil prices were muted in early trade on Tuesday as optimism over better-than-expected economic data from China was offset by caution over an upcoming Federal Reserve meeting and an OPEC decision on production. Chinese business activity grew more than expected in January, government data showed, indicating that the country’s economy was clearly on a path of recovery after it relaxed most anti-COVID restrictions earlier in the month. The data helped further the notion that a Chinese economic recovery will help spur increased crude demand in 2023. The International Energy Agency…

Economic News

Rising Interest Rates Have a Sting in The Tail For Europe’s Banks

January 30, 2023 Administrator_Indiacommercial, dealmaking, financial crisis, Investment, judgements, property0 comment

Rising borrowing costs are giving a long-awaited lift to Europe’s beleaguered banks, but they come with a sting in the tail. Last year central banks ended a decade of rock-bottom interest rates as the U.S. Federal Reserve and then the European Central Bank moved towards tightening. Two of Europe’s big corporate and mortgage lenders, Sweden’s SEB and Spain’s Sabadell, recently unveiled strong profits for 2022 as that trend helped lending lift earnings. But while rising rates are good news for bank profits, they herald a slowdown in an economy hit…

Asian Market

Asian Stocks Sink As Fed Week Begins, China Reopens Strong

January 30, 2023 Administrator_Indiaconglomerate's, earnings, flagship, remaining, restrictions, technology0 comment

Most Asian stock markets sank on Monday as caution kicked in ahead of a Federal Reserve meeting and key economic data this week, while Chinese shares rose sharply as they resumed trade after a week-long holiday. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes rose 1.2% and 0.7%, respectively, with markets betting that the country’s economy was further supported by its first Lunar New Year holiday without COVID restrictions in three years. State media reported that domestic travel and consumption had bounced back sharply in the past week. The…

Stock Market

Chinese Stocks Surge After Week-Long Holiday

January 30, 2023 Administrator_IndiaAutomobile, infections, measures, positively, restrictions, stimulus0 comment

Chinese stock markets rose sharply on Monday as they resumed trade after the Lunar New Year holiday, while a commitment from the government to boost spending and support economic growth also aided sentiment. The Shanghai Shenzhen CSI 300 index rose 1.3%, while the Shanghai Composite index added 0.6%, with most sectors trading positively. Automobile and industrial stocks were the best performers in early trade, while energy stocks retreated. State media reports suggested that retail travel and spending recovered sharply to near pre-pandemic levels during the holiday, boding well for the…

Economic News

MSCI Seeks Feedback On Adani Group Over Hindenburg Report

January 28, 2023 Administrator_Indiadescribed, extremely, Hindenburg, Research, statement0 comment

Index provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research. Seven listed companies of the Adani conglomerate – controlled by one of the world’s richest men Gautam Adani – have lost a combined $48 billion in market value and U.S. bonds of Adani firms have fallen since Hindenburg on Tuesday flagged concerns about debt levels and the use of tax havens. “MSCI is closely monitoring publicly available information regarding the situation and the…

Uncategorized

Fashion Retailer H&M’s Profit Tumbles As Costs Bite

January 27, 2023 Administrator_Indiaconfidence, contributed, efficiency, Environment, previously, unchanged0 comment

Sweden’s H&M reported on Friday a much larger than expected drop in September-November profit, hit by weak consumer confidence and soaring costs that it did not fully pass on to price tags, sending its shares down 7% in early trade. Operating profit in the period, the world’s second-biggest fashion retailer’s fiscal fourth quarter, was 821 million crowns ($79.7 million) against 6.26 billion a year earlier and a mean forecast of 3.67 billion in a Refinitiv poll of analysts. H&M, which had already reported that sales in the quarter were flat,…

Asian Market

Asian Stocks Rise Tracking Positive U.S. GDP, Adani Extends Losses

January 27, 2023 Administrator_IndiaAsian markets, conglomerate, Indonesian stocks, Inflation, nationwide0 comment

Most Asian stock markets rose on Friday as appetite for risk-driven assets was supported by better-than-expected U.S. economic growth data, while Indian stocks extended their descent as heavyweight Adani remained under pressure from a short seller report. Overnight data showed that the world’s largest economy grew more than expected during the fourth quarter, dispelling some concerns that a recession was imminent. This triggered sharp gains on Wall Street, which in turn spilled over into Asia. South Korea’s KOSPI index was the best performer for the day, rising nearly 1%, while…

Oil

Oil Treads Water Ahead of OPEC+ Panel Meeting, PCE Inflation Data

January 27, 2023 Administrator_Indiaconsumption, forecasting, majority, personal, restrictions, Traders0 comment

Oil prices moved little on Friday and were set to end the week flat amid caution over an upcoming OPEC+ panel meeting, as well as more cues on the U.S. economy from a reading on the Federal Reserve’s preferred inflation gauge. Ministers from Algeria, Kuwait, Venezuela, Russia and Oman are set to meet virtually next week as part of a panel called the Joint Ministerial Monitoring Committee (JMMC). The panel can call for a full meeting of the Organization of Petroleum Exporting Countries and allies (OPEC+) and can also decide…