Market Update
U.S. Movers: Banks, Crypto-Linked Stocks, CVS, Dollar Tree, Five Below
Scott Peters
06 Nov, 2024
New York City
Banks traded higher as investors speculated that the large and medium-sized banks are likely to benefit from Trump's economic policies.
JPMorgan Chase jumped 5.2% to $233.15, Wells Fargo advanced 8.4% to $69.44, Citigroup increased 7.2% to $68.59, and Regions Financial edged higher 7.2% to $25.31.
Discount retailers fell on the worry that the new administration would impose universal tariffs on all imported goods and 60% tariffs on imports from China.
Dollar Tree declined 2.2% to $65.30, Dollar General fell 1.2% to $80.58, and Five Below plunged 10.8% to $84.0.
Cryptocurrency-linked stocks soared after Bitcoin jumped to a record high of $75,000.
MicroStrategy Inc. soared 10% to $252.80, MARA Holding advanced 8.2% to $17.57, and Riot Platforms jumped 7.3% to $10.44.
CVS Health Corp. jumped 10.5% to $61.26 after the drug retailer reported mixed quarterly results.
Revenue in the third quarter increased 6.3% to $95.4 billion from $89.7 billion, net income plunged to $71 million from $2.3 billion, and diluted earnings per share declined to 7 cents from $1.75 a year ago.
During the third quarter, the company recorded restructuring charges of approximately $1.2 billion, comprised of a $607 million store impairment charge for additional retail pharmacy stores it plans to close in 2025, $293 million of costs associated with workforce, including severance and employee-related costs, and $269 million of other asset impairments and related charges associated with the discontinuation of certain non-core assets.
The company also withdrew its guidance, citing elevated medical costs in the remainder of the year.
U.S. Movers: Bank
Scott Peters
06 Nov, 2024
Select
Banks traded higher as investors speculated that the large and medium-sized banks are likely to benefit from Trump's economic policies.
JPMorgan Chase jumped 5.2% to $233.15, Wells Fargo advanced 8.4% to $69.44, Citigroup increased 7.2% to $68.59, and Regions Financial edged higher 7.2% to $25.31.
Discount retailers fell on the worry that the new administration would impose universal tariffs on all imported goods and 60% tariffs on imports from China.
Dollar Tree declined 2.2% to $65.30, Dollar General fell 1.2% to $80.58, and Five Below plunged 10.8% to $84.0.
Cryptocurrency-linked stocks soared after Bitcoin jumped to a record high of $75,000.
MicroStrategy Inc. soared 10% to $252.80, MARA Holding advanced 8.2% to $17.57, and Riot Platforms jumped 7.3% to $10.44.
S&P 500 and Nasdaq Soars 2% as Trump Secures Return to White House
Barry Adams
06 Nov, 2024
New York City
Stock market indexes soared after former president Donald Trump secured a return to the White House in the U.S. presidential election.
The S&P 500 index increased 2.0%, the Nasdaq Composite advanced 2.1%, and the U.S. dollar advanced against all major currencies.
Former president Donald Trump defeated his democratic opponent Kamala Harris in a hotly contested presidential election as a Republican wave swept the nation and the congressional election.
Donald Trump is expected to secure 276 Electoral College votes, more than the minimum 270 needed to win the presidential election, including wins in key swing states of North Carolina, Pennsylvania, Georgia, and Wisconsin.
The control of the U.S. Senate also switched to the Republican Party, while the control of the House is still undecided.
Companies seen as beneficiaries under the Trump presidency soared in early trading, and Tesla advanced as much as 13%.
Cryptocurrency-linked stocks also soared, and Bitcoin jumped to a record high of $75,000 in the hopes that the relaxed regulation could benefit the sector.
The U.S. dollar advanced against all major currencies on speculation that Trump's proposed tariffs against major trading partners, including China, the European Union, and Mexico, could boost the currency.
The 10-year Treasury yield jumped to 4.43% on the assumption that the proposed spending plan by Trump would reignite inflationary pressures and may force the Federal Reserve to keep higher interests for longer.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 2.0% to 5,901.45, the Nasdaq Composite rose 2.1% to 18,832.39, and the Russell 2000 index rose 1.9% to 2,260.84.
The yield on 2-year Treasury notes edged higher to 4.27%, 10-year Treasury notes inched higher to 4.45%, and 30-year Treasury bonds increased to 4.61%.
WTI crude oil decreased $1.47 to $70.51 a barrel, and natural gas prices edged up 2 cents to $2.69 a thermal unit.
Gold decreased by $55.24 to $2,691.09 an ounce, and silver declined by $1.55 to $31.55.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 105.42.
U.S. Stock Movers
Banks traded higher as investors speculated that the large and medium-sized banks are likely to benefit from Trump's economic policies.
JPMorgan Chase jumped 5.2% to $233.15, Wells Fargo advanced 8.4% to $69.44, Citigroup increased 7.2% to $68.59, and Regions Financial edged higher 7.2% to $25.31.
Discount retailers fell on the worry that the new administration would impose universal tariffs on all imported goods and 60% tariffs on imports from China.
Dollar Tree declined 2.2% to $65.30, Dollar General fell 1.2% to $80.58, and Five Below plunged 10.8% to $84.0.
Cryptocurrency-linked stocks soared after Bitcoin jumped to a record high of $75,000.
MicroStrategy Inc. soared 10% to $252.80, MARA Holding advanced 8.2% to $17.57, and Riot Platforms jumped 7.3% to $10.44.
S&P 500 and Nasdaq Soars 2% as Trump Secures Return to White House
Barry Adams
06 Nov, 2024
New York City
Stock market indexes soared after former president Donald Trump secured a return to the White House in the U.S. presidential election.
The S&P 500 index increased 2.0%, the Nasdaq Composite advanced 2.1%, and the U.S. dollar advanced against all major currencies.
Former president Donald Trump defeated his democratic opponent Kamala Harris in a hotly contested presidential election as a Republican wave swept the nation and the congressional election.
Donald Trump is expected to secure 276 Electoral College votes, more than the minimum 270 needed to win the presidential election, including wins in key swing states of North Carolina, Pennsylvania, Georgia, and Wisconsin.
The control of the U.S. Senate also switched to the Republican Party, while the control of the House is still undecided.
Companies seen as beneficiaries under the Trump presidency soared in early trading, and Tesla advanced as much as 13%.
Cryptocurrency-linked stocks also soared, and Bitcoin jumped to a record high of $75,000 in the hopes that the relaxed regulation could benefit the sector.
The U.S. dollar advanced against all major currencies on speculation that Trump's proposed tariffs against major trading partners, including China, the European Union, and Mexico, could boost the currency.
The 10-year Treasury yield jumped to 4.43% on the assumption that the proposed spending plan by Trump would reignite inflationary pressures and may force the Federal Reserve to keep higher interests for longer.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 2.0% to 5,901.45, the Nasdaq Composite rose 2.1% to 18,832.39, and the Russell 2000 index rose 1.9% to 2,260.84.
The yield on 2-year Treasury notes edged higher to 4.27%, 10-year Treasury notes inched higher to 4.45%, and 30-year Treasury bonds increased to 4.61%.
WTI crude oil decreased $1.47 to $70.51 a barrel, and natural gas prices edged up 2 cents to $2.69 a thermal unit.
Gold decreased by $55.24 to $2,691.09 an ounce, and silver declined by $1.55 to $31.55.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 105.42.
U.S. Stock Movers
Banks traded higher as investors speculated that the large and medium-sized banks are likely to benefit from Trump's economic policies.
JPMorgan Chase jumped 5.2% to $233.15, Wells Fargo advanced 8.4% to $69.44, Citigroup increased 7.2% to $68.59, and Regions Financial edged higher 7.2% to $25.31.
Discount retailers fell on the worry that the new administration would impose universal tariffs on all imported goods and 60% tariffs on imports from China.
Dollar Tree declined 2.2% to $65.30, Dollar General fell 1.2% to $80.58, and Five Below plunged 10.8% to $84.0.
Cryptocurrency-linked stocks soared after Bitcoin jumped to a record high of $75,000.
MicroStrategy Inc. soared 10% to $252.80, MARA Holding advanced 8.2% to $17.57, and Riot Platforms jumped 7.3% to $10.44.
Europe Movers: BMW, Credit Agricole, Marks & Spencer, Puma, Siemens Healthineers, TeamViewer
Inga Muller
06 Nov, 2024
Frankfurt
The return of Donald Trump to the White House may prove to be mixed blessings for the European Union, as his administration will demand more payment for the support of NATO, erect trade barriers for goods from the region, and push to end the war in Ukraine.
The DAX index increased by 0.9% to 19,430.32; the CAC-40 index rose by 1.4% to 7,512.89; and the FTSE 100 index rose by 1.2% to 8,270.27.
The yield on 10-year German bonds edged lower to 2.36%, French bonds inched lower to 3.11%, the UK gilts edged higher to 4.51%, and Italian bonds decreased to 3.62%.
Credit Agricole SA declined 5.7% to €13.49 after the French bank reported mixed quarterly results as record revenue in its investment banking unit overshadowed weakness in its retail business.
Puma SE dropped 5.7% to €40.0 after the German footwear company reported lower-than-expected sales in the third quarter.
BMW AG declined 6.8% to €67.66, and the German luxury automaker reported third quarter net income plunged 61%.
Siemens Healthineers rose 6.6% to €51.58 after the German media technology company reported financial results that matched investor expectations.
Marks & Spencer Group increased 4.4% to 400.70 pence after the UK-based retailer reported higher-than-expected profit in the first half.
TeamViewer SE dropped 14% to €11.55 after the software company trimmed its revenue outlook.
Revenue in the third quarter increased 7% to €168.7 million from €158.1 million operating earnings increased 44% to €65 million from €45.3 million, and earnings per share rose to 25 cents from 16 cents a year ago.
The company narrowed the 2024 revenue range to between €662 million and €668 million, and adjusted EBITDA margin of at least 44% compared to the previous estimate of 43%.
Europe Movers: BMW, Credit Agricole, Marks & Spencer, Puma, Siemens Healthineers, TeamViewer
Inga Muller
06 Nov, 2024
Frankfurt
The return of Donald Trump to the White House may prove to be mixed blessings for the European Union, as his administration will demand more payment for the support of NATO, erect trade barriers for goods from the region, and push to end the war in Ukraine.
The DAX index increased by 0.9% to 19,430.32; the CAC-40 index rose by 1.4% to 7,512.89; and the FTSE 100 index rose by 1.2% to 8,270.27.
The yield on 10-year German bonds edged lower to 2.36%, French bonds inched lower to 3.11%, the UK gilts edged higher to 4.51%, and Italian bonds decreased to 3.62%.
Credit Agricole SA declined 5.7% to €13.49 after the French bank reported mixed quarterly results as record revenue in its investment banking unit overshadowed weakness in its retail business.
Puma SE dropped 5.7% to €40.0 after the German footwear company reported lower-than-expected sales in the third quarter.
BMW AG declined 6.8% to €67.66, and the German luxury automaker reported third quarter net income plunged 61%.
Siemens Healthineers rose 6.6% to €51.58 after the German media technology company reported financial results that matched investor expectations.
Marks & Spencer Group increased 4.4% to 400.70 pence after the UK-based retailer reported higher-than-expected profit in the first half.
TeamViewer SE dropped 14% to €11.55 after the software company trimmed its revenue outlook.
Revenue in the third quarter increased 7% to €168.7 million from €158.1 million operating earnings increased 44% to €65 million from €45.3 million, and earnings per share rose to 25 cents from 16 cents a year ago.
The company narrowed the 2024 revenue range to between €662 million and €668 million, and adjusted EBITDA margin of at least 44% compared to the previous estimate of 43%.
Trump's Return to White House May Pose Multiple Challenges for the EU, European Markets Advanced 1%
Bridgette Randall
06 Nov, 2024
London
European markets advanced and bond yields edged lower as investors reviewed the latest batch of earnings and economic releases.
Benchmark indexes in Paris, Milan, Frankfurt, and London advanced, and the former U.S. president Donald Trump was presumed to be the winner of the latest U.S. presidential election.
Trump's win may prove to be trickier for European businesses and politicians, as the new administration is likely to ramp up trade barriers and push European nations to pay a higher share of the NATO budget.
The Trump administration is also likely to impose new trade barriers with the European Union and demand member nations import more from the world's largest economy and lower persistent trade surpluses.
On the economic front, Germany's factory orders rebounded at a faster-than-expected pace in September after demand for military vehicles, aircraft, ships, and trains soared 117.1%.
Automotive orders increased 2.9%, but the metal production and processing sector declined 10%, and mechanical engineering fell 3.6%.
Factory orders increased 4.2% from the previous month and advanced 1% from a year ago in September, following a downwardly revised 5.4% decrease in the previous month.
Excluding large orders, incoming orders rose 2.2% from the previous month.
Europe Indexes and Yields
The DAX index increased by 0.9% to 19,430.32; the CAC-40 index rose by 1.4% to 7,512.89; and the FTSE 100 index rose by 1.2% to 8,270.27.
The yield on 10-year German bonds edged lower to 2.36%, French bonds inched lower to 3.11%, the UK gilts edged higher to 4.51%, and Italian bonds decreased to 3.62%.
The euro edged higher to $1.07; the British pound inched higher to $1.29; and the U.S. dollar weakened to 87.57 Swiss cents.
Brent crude decreased $0.92 to $74.60 a barrel, and the Dutch TTF natural gas rose by €1.12 to €39.40 per MWh.
Europe Stock Movers
Credit Agricole SA declined 5.7% to €13.49 after the French bank reported mixed quarterly results as record revenue in its investment banking unit overshadowed weakness in its retail business.
Puma SE dropped 5.7% to €40.0 after the German footwear company reported lower-than-expected sales in the third quarter.
BMW AG declined 6.8% to €67.66, and the German luxury automaker reported third quarter net income plunged 61%.
Siemens Healthineers rose 6.6% to €51.58 after the German media technology company reported financial results that matched investor expectations.
Marks & Spencer Group increased 4.4% to 400.70 pence after the UK-based retailer reported higher-than-expected profit in the first half.
Trump's Return to White House May Pose More Problems for the European Union, European Markets Advanced 1%
Bridgette Randall
06 Nov, 2024
London
European markets advanced and bond yields edged lower as investors reviewed the latest batch of earnings and economic releases.
Benchmark indexes in Paris, Milan, Frankfurt, and London advanced, and the former U.S. president Donald Trump was presumed to be the winner of the latest U.S. presidential election.
Trump's win may prove to be trickier for European businesses and politicians, as the new administration is likely to ramp up trade barriers and push European nations to pay a higher share of the NATO budget.
The Trump administration is also likely to impose new trade barriers with the European Union and demand member nations import more from the world's largest economy and lower persistent trade surpluses.
On the economic front, Germany's factory orders rebounded at a faster-than-expected pace in September after demand for military vehicles, aircraft, ships, and trains soared 117.1%.
Automotive orders increased 2.9%, but the metal production and processing sector declined 10%, and mechanical engineering fell 3.6%.
Factory orders increased 4.2% from the previous month and advanced 1% from a year ago in September, following a downwardly revised 5.4% decrease in the previous month.
Excluding large orders, incoming orders rose 2.2% from the previous month.
Europe Indexes and Yields
The DAX index increased by 0.9% to 19,430.32; the CAC-40 index rose by 1.4% to 7,512.89; and the FTSE 100 index rose by 1.2% to 8,270.27.
The yield on 10-year German bonds edged lower to 2.36%, French bonds inched lower to 3.11%, the UK gilts edged higher to 4.51%, and Italian bonds decreased to 3.62%.
The euro edged higher to $1.07; the British pound inched higher to $1.29; and the U.S. dollar weakened to 87.57 Swiss cents.
Brent crude decreased $0.92 to $74.60 a barrel, and the Dutch TTF natural gas rose by €1.12 to €39.40 per MWh.
Europe Stock Movers
Credit Agricole SA declined 5.7% to €13.49 after the French bank reported mixed quarterly results as record revenue in its investment banking unit overshadowed weakness in its retail business.
Puma SE dropped 5.7% to €40.0 after the German footwear company reported lower-than-expected sales in the third quarter.
BMW AG declined 6.8% to €67.66, and the German luxury automaker reported third quarter net income plunged 61%.
Siemens Healthineers rose 6.6% to €51.58 after the German media technology company reported financial results that matched investor expectations.
Marks & Spencer Group increased 4.4% to 400.70 pence after the UK-based retailer reported higher-than-expected profit in the first half.
Japan Indexes Extended 2-Day Rally; IHI Soared 20%, Mecari Plunged 16%
Akira Ito
06 Nov, 2024
Tokyo
Stock market indexes in Tokyo advanced for the second day in a row as investors attempted to decipher possible impacts of Donald Trump's win in the U.S. presidential election.
The Nikkei 225 stock average soared 2.6% and the broader Topix index added 1.9% as investors reviewed the sentiment index among large businesses.
Donald Trump's administration is likely to impose higher tariffs on goods imported from Asia and China and also raise trade barriers that could negatively impact Japanese corporations.
Moreover, Japanese politicians may face demand from the Trump administration to bear a larger financial burden of security arrangements to defend the nation from aggression from China, Russia, or North Korea.
On the economic front, the Reuters Tankan sentiment index for Japan's manufacturers eased to +5 in November from +7 in October.
The sentiment weakened amid growing worries over the economic slowdown in China and rising domestic inflationary pressures.
Japan's service sector activity index was revised higher in October, indicating that the contraction was less severe than previously estimated.
Services PMI was revised to 49.7 in October from the preliminary estimate of 49.3, and the index declined for the first time since June amid renewed pressures on export orders.
The Bank of Japan's latest policy meeting minutes showed that most committee members were in agreement in continuing to raise rates, and inflation and economic conditions align with the central bank's goals.
However, most members preferred to raise rates gradually according to the minutes of the September 19-20 monetary policy meeting.
Japan Stock Movers
The Nikkei 225 Stock Average jumped 2.6% to 39,480.67, and the broader Topix index added 1.9% to 2,715.92.
Mercari Inc. plunged 16% to ¥1,824.0 after the e-commerce company reported weaker-than-expected quarterly results.
Revenue in the September quarter increased 1.5% to 44.9 billion yen from 44.3 billion yen, net income rose 7.9% to 3.04 billion yen from 2.8 billion yen, and diluted earnings per share rose to 17.44 yen from 16.54 a year ago.
The company estimated revenue in the fiscal year 2025 ending in June between 200 billion and 210 billion yen, an increase between 6.7% and 12.1%.
The company guided annual core operating profit between 22 billion and 25 billion yen, an increase between 16.6% and 32.5%.
IHI Corp. soared 19.1% to ¥9,280.0 after the heavy-duty engineering company reported its financial results and raised its dividend and profit outlook for the current year.
Consolidated revenue in the six months ended September rose 61.1% to 757.5 billion yen from 470.31 billion yen, net income swung to a profit of 40.9 billion from a loss of 135.6 billion yen, and diluted earnings per share were 259.69 yen compared to a loss of 909.25 yen.
The company estimated full-year revenue to increase 21% to 1.6 trillion yen, profit attributable to shareholders to rise to 85 billion yen, and basic earnings per share of 559.55 yen.
The company estimated the full-year dividend to increase to 120 yen from 100 yen in the previous year.
Japan Indexes Advanced; IHI Soars 20% After Dividend Hike, Mecari Plunged 16% Following Weak Sales Growth
Akira Ito
06 Nov, 2024
Tokyo
Stock market indexes in Tokyo advanced for the second day in a row as investors attempted to decipher possible impacts of Donald Trump's win in the U.S. presidential election.
The Nikkei 225 stock average soared 2.6% and the broader Topix index added 1.9% as investors reviewed the sentiment index among large businesses.
Donald Trump's administration is likely to impose higher tariffs on goods imported from Asia and China and also raise trade barriers that could negatively impact Japanese corporations.
Moreover, Japanese politicians may face demand from the Trump administration to bear a larger financial burden of security arrangements to defend the nation from aggression from China, Russia, or North Korea.
On the economic front, the Reuters Tankan sentiment index for Japan's manufacturers eased to +5 in November from +7 in October.
The sentiment weakened amid growing worries over the economic slowdown in China and rising domestic inflationary pressures.
Japan's service sector activity index was revised higher in October, indicating that the contraction was less severe than previously estimated.
Services PMI was revised to 49.7 in October from the preliminary estimate of 49.3, and the index declined for the first time since June amid renewed pressures on export orders.
The Bank of Japan's latest policy meeting minutes showed that most committee members were in agreement in continuing to raise rates, and inflation and economic conditions align with the central bank's goals.
However, most members preferred to raise rates gradually according to the minutes of the September 19-20 monetary policy meeting.
Japan Stock Movers
The Nikkei 225 Stock Average jumped 2.6% to 39,480.67, and the broader Topix index added 1.9% to 2,715.92.
Mercari Inc. plunged 16% to ¥1,824.0 after the e-commerce company reported weaker-than-expected quarterly results.
Revenue in the September quarter increased 1.5% to 44.9 billion yen from 44.3 billion yen, net income rose 7.9% to 3.04 billion yen from 2.8 billion yen, and diluted earnings per share rose to 17.44 yen from 16.54 a year ago.
The company estimated revenue in the fiscal year 2025 ending in June between 200 billion and 210 billion yen, an increase between 6.7% and 12.1%.
The company guided annual core operating profit between 22 billion and 25 billion yen, an increase between 16.6% and 32.5%.
IHI Corp. soared 19.1% to ¥9,280.0 after the heavy-duty engineering company reported its financial results and raised its dividend and profit outlook for the current year.
Consolidated revenue in the six months ended September rose 61.1% to 757.5 billion yen from 470.31 billion yen, net income swung to a profit of 40.9 billion from a loss of 135.6 billion yen, and diluted earnings per share were 259.69 yen compared to a loss of 909.25 yen.
The company estimated full-year revenue to increase 21% to 1.6 trillion yen, profit attributable to shareholders to rise to 85 billion yen, and basic earnings per share of 559.55 yen.
The company estimated the full-year dividend to increase to 120 yen from 100 yen in the previous year.
Hong Kong Stocks Drop 2% as Goods from China Face Higher Tariffs Under Trump Administration
Li Chen
06 Nov, 2024
Hong Kong
Stock market indexes in China and Hong Kong traded volatile as the U.S. presidential election results rolled in.
The Hang Seng index dropped 2% and the mainland-focused CSI 300 index advanced a fraction as investors attempted to understand broad implications of the U.S. election results.
Vice President Kamala Harris is trailing in the key battleground states of Michigan, Wisconsin, and Pennsylvania, which could tip the election in favor of former president Donald Trump.
Regardless of who wins the White House and control of the U.S. Congress, China's exports are likely to face higher tariffs and additional trade barriers for goods shipped routed through Vietnam and Mexico.
The Hang Seng index has advanced 27% between the announcement of stimulus measures on September 11 and October 7, but the market index has lost about 9% since then.
The Standing Committee of the People's National Congress is set to approve raising the government debt ceiling, which will pave the way for the previously announced fiscal measures to support local government finances.
China Stock Movers
The Hang Seng index declined 2% to 20,588.66, and the CSI 300 index increased 0.2% to 4,051.35.
Tech stocks traded down in Hong Kong amid a broad selloff in Chinese stocks.
Alibaba Group declined 3.4% to HK $95.10, JD.com fell 3.9% to HK $152.50, and Tencent Holdings fell 1.7% to HK $420.40.
Hong Kong Stocks Drop 2% as China Faces Higher Tariffs Under Trump Administration
Li Chen
06 Nov, 2024
Hong Kong
Stock market indexes in China and Hong Kong traded volatile as the U.S. presidential election results rolled in.
The Hang Seng index dropped 2% and the mainland-focused CSI 300 index advanced a fraction as investors attempted to understand broad implications of the U.S. election results.
Vice President Kamala Harris is trailing in the key battleground states of Michigan, Wisconsin, and Pennsylvania, which could tip the election in favor of former president Donald Trump.
Regardless of who wins the White House and control of the U.S. Congress, China's exports are likely to face higher tariffs and additional trade barriers for goods shipped routed through Vietnam and Mexico.
The Hang Seng index has advanced 27% between the announcement of stimulus measures on September 11 and October 7, but the market index has lost about 9% since then.
The Standing Committee of the People's National Congress is set to approve raising the government debt ceiling, which will pave the way for the previously announced fiscal measures to support local government finances.
China Stock Movers
The Hang Seng index declined 2% to 20,588.66, and the CSI 300 index increased 0.2% to 4,051.35.
Tech stocks traded down in Hong Kong amid a broad selloff in Chinese stocks.
Alibaba Group declined 3.4% to HK $95.10, JD.com fell 3.9% to HK $152.50, and Tencent Holdings fell 1.7% to HK $420.40.
India Movers: Berger Paints, GAIL India, JK Tyres, Oil India, Sundram Fasteners
Arun Goswami
06 Nov, 2024
Mumbai
Dalal Street indexes rebounded as investors reviewed another batch of mixed quarterly results.
The Sensex and Nifty indexes are still down 6% from the peak on September 16.
The Sensex index increased by 0.7% to 80,032.28, and the Nifty index rose by 0.7% to 24,377.85.
On the Mumbai stock exchange, 179 stocks traded at their 52-week highs, and 9 stocks traded at their 52-week lows.
JK Tyre & Industries declined 2.7% to ₹378.65 after the company reported a decline in revenue and profit in the September quarter.
Revenue fell 7% to ₹3,622 crore, and net profit plunged 44% to ₹135 crore from a year ago, respectively.
The company's quarterly results were negatively impacted by the rising rubber cost and falling sales.
Gail India increased 5.5% to ₹207.20 after the natural gas company reported higher sales and earnings in the September quarter.
Revenue from operations increased 2.8% to ₹33,981.3 crore, and net income advanced 10.2% to ₹2,693.5 crore from a year ago, respectively.
Berger Paints India advanced 0.9% to ₹517.85 after the company reported fiscal second quarter results.
Revenue in the September quarter increased 0.3% to ₹2,775 crore, and net income decreased 7.5% to ₹270 crore amid soft demand in the urban areas.
Oil India jumped 3% to ₹510.65 after the company reported mixed quarterly results.
Revenue in the September quarter decreased 7.7% to ₹8,135.9 crore, and net income soared nearly fourfold to ₹2,016.2 crore from a year ago, respectively.
Sundram Fasteners decreased 0.6% to ₹1,341.70 after the company reported muted quarterly results in the September quarter.
Revenue from operations in the fiscal second quarter increased 4.5% to ₹1,486 crore from ₹1,421.8 crore, net income increased 8% to ₹143.8 crore from ₹133.05 crore, and diluted earnings per share advanced to ₹6.78 from ₹6.28 a year ago.
The company said strong export sales supported the rise in revenue in the quarter.
The company declared a cash dividend of ₹3 per share payable on December 3 to shareholders on record on November 18.
India Movers: Berger Paints, GAIL India, JK Tyres, Oil India, Sundram Fasteners
Arun Goswami
06 Nov, 2024
Mumbai
Dalal Street indexes rebounded as investors reviewed another batch of mixed quarterly results.
The Sensex and Nifty indexes are still down 6% from the peak on September 16.
The Sensex index increased by 0.7% to 80,032.28, and the Nifty index rose by 0.7% to 24,377.85.
On the Mumbai stock exchange, 179 stocks traded at their 52-week highs, and 9 stocks traded at their 52-week lows.
JK Tyre & Industries declined 2.7% to ₹378.65 after the company reported a decline in revenue and profit in the September quarter.
Revenue fell 7% to ₹3,622 crore, and net profit plunged 44% to ₹135 crore from a year ago, respectively.
The company's quarterly results were negatively impacted by the rising rubber cost and falling sales.
Gail India increased 5.5% to ₹207.20 after the natural gas company reported higher sales and earnings in the September quarter.
Revenue from operations increased 2.8% to ₹33,981.3 crore, and net income advanced 10.2% to ₹2,693.5 crore from a year ago, respectively.
Berger Paints India advanced 0.9% to ₹517.85 after the company reported fiscal second quarter results.
Revenue in the September quarter increased 0.3% to ₹2,775 crore, and net income decreased 7.5% to ₹270 crore amid soft demand in the urban areas.
Oil India jumped 3% to ₹510.65 after the company reported mixed quarterly results.
Revenue in the September quarter decreased 7.7% to ₹8,135.9 crore, and net income soared nearly fourfold to ₹2,016.2 crore from a year ago, respectively.
Sundram Fasteners decreased 0.6% to ₹1,341.70 after the company reported muted quarterly results in the September quarter.
Revenue from operations in the fiscal second quarter increased 4.5% to ₹1,486 crore from ₹1,421.8 crore, net income increased 8% to ₹143.8 crore from ₹133.05 crore, and diluted earnings per share advanced to ₹6.78 from ₹6.28 a year ago.
The company said strong export sales supported the rise in revenue in the quarter.
The company declared a cash dividend of ₹3 per share payable on December 3 to shareholders on record on November 18.
U.S. International Trade Gap Expands to a 28-Month High In September
Brian Turner
05 Nov, 2024
Washington, D.C.
International goods and service trade deficit increased to $84.4 billion in September from $62.2 billion, the Bureau of Economic Analysis reported Tuesday.
Exports increased 2.2% to $267.9 billion and impots rose 9.5% to $352.2 billion from $323.8 billion a year ago, respectively.
Exports declined after reaching record high in August as shipment of civilian aircrafts, pharmaceutical preparations, and crude oil decreased.
The increase in Imports was driven by the higher demand passenger cars, computers and semiconductors, and pharmaceutical preparations.
Trade deficit widened a whopping 35% to $84.4 billion from $62.2 billion a year ago.
The September increase in the goods and services deficit reflected an increase in the goods deficit of $14.2 billion to $109.0 billion and an increase in the services surplus of $0.6 billion to $24.6 billion.
Goods trade deficit with the European Union increased by $4.7 billion to $23.8 billion, with China increased by $2.2 billion to $26.9 billion, with Mexico by $1.7 billion to $16 billion, and with Vietnam rose by $2.5 billion to $112.2 billion.