Category: Uncategorized

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 and competitive positioning. However, the 108% YTD rally (+38% in the last month) means that “the stock now better reflects” Goldman’s bullish stance on the EV manufacturer. “Overall we believe our view that Tesla is…

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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 Rs 2,220 levels before the cut-off date in July to make a re-entry in MSCI Standard Index in the forthcoming August 2023 review,” Abhilash Pag aria, head of Nuvama Alternative & Quantitative Research told A…

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Toyota shareholders backed the board and voted down the first resolution proposed in 18 years at an annual general meeting (AGM) on Wednesday, an endorsement of the automaker a day after it laid out an extensive electric vehicle strategy. EV ROADMAP Toyota aims to produce more efficient, faster-charging versions of current batteries to improve EV driving range and cost, and, within the decade, mass produce game-changing solid-state batteries after saying it had overcome a technical hurdle. MANUFACTURING CHANGE The carmaker said it would radically redesign manufacturing, having vehicles drive along…

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European stock markets are expected to drift higher at the open Monday, at the start of a week dominated by a series of key central bank meetings in the U.S., Asia and Europe. At 02:00 ET (06:00 GMT), the DAX futures contract in Germany traded 0.4% higher, CAC 40 futures in France climbed 0.3% and the FTSE 100 futures contract in the U.K. rose 0.4%. enteral bank decisions to drive stock markets European equities are seen edging nervously higher Monday. With little in the way of major earnings of economic…

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Reality star Kim Kardashian’s arrival at a gathering of the globe’s top deal brokers in Berlin failed to dispel their dark mood as the rising cost of money puts the brakes on the private equity industry. Flanked by bodyguards, Kardashian drew a crowd of hundreds of executives at the Super Return industry event, saying she wanted to learn the secrets of investing having set up her own fund last year. Talking about her ambitions, Kardashian, whose empire spans skincare and underwear, sought what she called the “magic sauce” or special…

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The war in Ukraine is deepening the climate crisis at time when global greenhouse gas emissions are already running at a record high, according to report by carbon accounting experts who have tallied the overall impact of the conflict. The report, which is due to be released on the sidelines of the U.N. climate summit in Bonn this week, calculates that the first 12 months of the war will trigger a net increase of 120 million tones of greenhouse gases, equivalent to the annual output of country such as Belgium.…

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Gold prices fell slightly on Monday amid uncertainty over whether the Federal Reserve will hold interest rates steady later this month, while concerns over weakening economic growth pulled copper prices down. The yellow metal fell on Friday after U.S. nonfarm payrolls data read much stronger than expected for May, which posited a hawkish outlook for the Fed as it moves to bring down high inflation. But some Fed officials also suggested last week that the central bank may hold rates steady in June, as it gauges the impact of its…

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Germany is leading the biggest rally in global bond markets since March’s banking rout as cooling inflation and a weakening economy suggest European Central Bank rate hikes are nearing an end. Borrowing costs, or bond yields, in the benchmark euro area issuer are down at least 20 basis points (bps) this week. Alongside British and U.S. peers, yields – which move inversely to bond prices – were set for their biggest weekly declines since mid-March when banking turmoil sparked a dash to safe-havens. Certainly, government bonds remain hostage to data…

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Gold prices crept lower on Wednesday as markets awaited more cues on the raising of the U.S. debt ceiling, while copper prices slid after data offered more signals of a slowing economic rebound in China. Copper futures sank 0.7% to $3.6338 a pound, and were set to lose about 6% in May as data showed China’s manufacturing sector shrank for a second consecutive month in May. The reading, coupled with a drop in overall business activity growth, pointed to a slowing economic rebound in the world’s largest copper importer, and…

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Most Asian stocks rose on Monday as markets cheered a tentative deal between U.S. lawmakers to hike the debt ceiling and avert a default, with Japan’s Nikkei racing back to near 33-year highs on improved risk appetite. The Nikkei 225 was the best performer in Asian markets, up 1.4% to its highest level since July 1990. Gains were driven largely by heavyweight chipmaking and financial stocks, as technology shares continued to benefit from expectations that interest in artificial intelligence will drive demand this year. Nvidia Corporation (NASDAQ:NVDA) supplier Advantest Corp…

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