- Barry Adams
- 14 Nov, 2024
- New York City
Wall Street indexes rested following a post-election rally that lifted major averages to new record highs.
The S&P 500 index decreased 0.2% and the Nasdaq Composite declined 0.1% as investors reviewed the latest updates on weekly jobless data and producer price inflation.
On an annual basis, producer price inflation accelerated to 2.4% in October from 1.9% in September, the U.S. Bureau of Labor Statistics reported Thursday.
The annual core rate of producer price inflation accelerated to 3.1% from 2.9%, confirming elevated inflation pressures and supporting the case for policymakers to keep interest rate policy restrictive.
Initial jobless claims at the end of the week ending on November 9 declined by 4,000 from the previous week to 217,000, the U.S. Department of Labor reported Thursday.
The four-week moving average, which reduces weekly volatility, fell by 6,250 to 221,000.
Continuing claims, which lag by one week, fell by 19,000 to 1.873 million.
In international trading, financial markets in Europe, Japan, China, and India extended volatility for the second week in a row amid growing worries about the U.S. trade policy and nature and level of tariffs under the expected chaotic administration of president-elect Donald Trump.
President-elect Donald Trump has promised to wipe out the federal government deficit in eight years of his office, vowed to deport 10 million illegal immigrants in the first year of his administration, settle the war in Ukraine in one day, and he should be consulted by the Fed Chair before rate decisions.
Don't hold your breath; none of these action items are likely to happen, even in the next four years.
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 4.28%, 10-year Treasury notes inched higher to 4.45%, and 30-year Treasury bonds increased to 4.61%.
WTI crude oil increased $0.27 to $69.28 a barrel, and natural gas prices edged down 2 cents to $2.95 a thermal unit.
Gold decreased by $15.14 to $2,556.49 an ounce, and silver declined by $0.15 to $30.13.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 106.72.
U.S. Stock Movers
Walt Disney Company soared 10% to $113.16 after the theme park operator reported better-than-expected quarterly results.
Cisco Systems decreased 1.3% to $58.48 after the networking gear maker reported better-than-expected quarterly results and lifted its annual outlook, but revenue declined for the fourth quarter in a row.
Capri Holdings declined 2.2% to $19.24 and Tapestry Inc. jumped 11.4% to $57.13 after the two companies called off their merger plans citing regulatory hurdles.
- Barry Adams
- 14 Nov, 2024
- New York City
Wall Street indexes rested following a post-election rally that lifted major averages to new record highs.
The S&P 500 index decreased 0.2% and the Nasdaq Composite declined 0.1% as investors reviewed the latest updates on weekly jobless data and producer price inflation.
On an annual basis, producer price inflation accelerated to 2.4% in October from 1.9% in September, the U.S. Bureau of Labor Statistics reported Thursday.
The annual core rate of producer price inflation accelerated to 3.1% from 2.9%, confirming elevated inflation pressures and supporting the case for policymakers to keep interest rate policy restrictive.
Initial jobless claims at the end of the week ending on November 9 declined by 4,000 from the previous week to 217,000, the U.S. Department of Labor reported Thursday.
The four-week moving average, which reduces weekly volatility, fell by 6,250 to 221,000.
Continuing claims, which lag by one week, fell by 19,000 to 1.873 million.
In international trading, financial markets in Europe, Japan, China, and India extended volatility for the second week in a row amid growing worries about the U.S. trade policy and nature and level of tariffs under the expected chaotic administration of president-elect Donald Trump.
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 4.28%, 10-year Treasury notes inched higher to 4.45%, and 30-year Treasury bonds increased to 4.61%.
WTI crude oil increased $0.27 to $69.28 a barrel, and natural gas prices edged down 2 cents to $2.95 a thermal unit.
Gold decreased by $15.14 to $2,556.49 an ounce, and silver declined by $0.15 to $30.13.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 106.72.
U.S. Stock Movers
Walt Disney Company soared 10% to $113.16 after the theme park operator reported better-than-expected quarterly results.
Cisco Systems decreased 1.3% to $58.48 after the networking gear maker reported better-than-expected quarterly results and lifted its annual outlook, but revenue declined for the fourth quarter in a row.
Capri Holdings declined 2.2% to $19.24 and Tapestry Inc. jumped 11.4% to $57.13 after the two companies called off their merger plans citing regulatory hurdles.
- Bridgette Randall
- 14 Nov, 2024
- London
European markets advanced following positive earnings and corporate news from leading corporations in France, Germany, and Italy.
Moreover, market sentiment was bolstered after the third quarter's GDP growth in the eurozone was reaffirmed and the jobless rate edged up slightly in the third quarter.
Investors have been on edge after the U.S. election results amid rising worries of political and trade tensions between the U.S. and the eurozone over the next six months and growing uncertainty over the U.S. policy.
Moreover, the next U.S. administration is likely to shift the burden of NATO military spending to Europe and wind out war in Ukraine while cutting off aid and negotiating a quick settlement with Russia.
Eurozone Q3 GDP Growth Reaffirmed In Second Estimate
The eurozone's third quarter GDP growth accelerated to 0.4% sequentially after rising 0.2% in the second quarter, matching the flash estimate, according to a report released by Eurostat on Thursday.
On an annual basis, GDP growth accelerated to 0.9% from an annual rate of 0.6% in the second quarter, matching the preliminary estimate.
France's Jobless Rate Eased In The Third Quarter
France's jobless rate in the third quarter edged up to 7.4% from 7.3% in the second quarter, according to the data released by the French statistical agency, or INSEE.
The unemployed persons in the third quarter increased by 35,000 to 2.3 million, and the jobless rate among women edged lower by 0.2 basis points to 7.2% among women and increased by 0.3% to 7.6% among men.
The activity rate, which measures the number of people in the job market, increased by 0.3% to 74.8%.
The jobless rate among those between the ages of 25 and 49 decreased by 0.1% to 6.6%, and that between 18 and 24 increased by 1.8% to 19.7%.
Meanwhile, the jobless rate for people 50 years and older eased by 0.3% from the second quarter to 7.6%.
Europe Indexes and Yields
The DAX index increased by 1.1% to 19,217.99; the CAC-40 index rose by 1.0% to 7,285.61; and the FTSE 100 index rose by 0.4% to 8,060.07.
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 4.52%, and Italian bonds decreased to 3.59%.
The euro edged lower to $1.05; the British pound inched down to $1.26; and the U.S. dollar strengthened to 89.04 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
ASML Holding NV soared 5% to €660.0 after the advanced chip equipment maker lifted its sales outlook over the next five years despite sales in the current financial year.
CEO Christophe Fouquet that the company's technology is capable of scaling over the next five years to "leverage the artificial intelligence opportunity."
The company guided revenue between 44 billion and 60 billion and gross margin between 56% and 60% by 2030.
The current forecast implies that sales are likely to rise annually between 8% and 14% over the next five years.
Aviva plc gained 4.5% to 476.61 pence after the UK-based insurance company reported meaningful gains in its key business units in the third quarter.
Burberry Group jumped 18.5% to 867.20 pence after the company's recently appointed chief executive, Joshua Schulman, pledged to stabilize the business with a turnaround plan.
Premier Foods plc decreased 0.4% to 187.0 pence after the company reported higher sales and earnings in the first half amid rising demand for its food brands.
Alstom SA soared 7.9% to €21.22 after the French mobility company reported higher-than-expected cash in its interim results driven by rising sales volume and cost savings initiatives.
Thales SA declined 0.6% to €155.55 despite the defense contractor estimating higher sales and growth driven by expansion of its cyber security management systems.
Siemens AG advanced 6% to €190.20 after the engineering conglomerate reported higher-than-expected fiscal fourth quarter earnings, but the company lowered its sales outlook for fiscal 2025 amid rising geopolitical uncertainties.
Deutsche Telekom AG jumped 4% to €28.97 after the German telephone company reported better-than-expected third quarter profit and raised its full-year core profit estimate.
Banca Monte dei Paschi di Siena SpA rose 12% to €6.21 after the Italian government sold a 15% stake in the bank to rival Banco BPM.
Banco BPM gained 2.6% to €6.72.
- Inga Muller
- 14 Nov, 2024
- Frankfurt
European markets rebounded after corporate and earnings news supported positive market sentiment.
The eurozone's third quarter GDP growth accelerated to 0.4% sequentially after rising 0.2% in the second quarter, matching the flash estimate, according to a report released by Eurostat on Thursday.
France's jobless rate in the third quarter edged up to 7.4% from 7.3% in the second quarter, according to the data released by the French statistical agency, or INSEE.
The DAX index increased by 1.1% to 19,217.99; the CAC-40 index rose by 1.0% to 7,285.61; and the FTSE 100 index rose by 0.4% to 8,060.07.
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 4.52%, and Italian bonds decreased to 3.59%.
The euro edged lower to $1.05; the British pound inched down to $1.26; and the U.S. dollar strengthened to 89.04 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
ASML Holding NV soared 5% to €660.0 after the advanced chip equipment maker lifted its sales outlook over the next five years despite sales in the current financial year.
CEO Christophe Fouquet that the company's technology is capable of scaling over the next five years to "leverage the artificial intelligence opportunity."
The company guided revenue between 44 billion and 60 billion and gross margin between 56% and 60% by 2030.
The current forecast implies that sales are likely to rise annually between 8% and 14% over the next five years.
Aviva plc gained 4.5% to 476.61 pence after the UK-based insurance company reported meaningful gains in its key business units in the third quarter.
Burberry Group jumped 18.5% to 867.20 pence after the company's recently appointed chief executive, Joshua Schulman, pledged to stabilize the business with a turnaround plan.
Premier Foods plc decreased 0.4% to 187.0 pence after the company reported higher sales and earnings in the first half amid rising demand for its food brands.
Alstom SA soared 7.9% to €21.22 after the French mobility company reported higher-than-expected cash in its interim results driven by rising sales volume and cost savings initiatives.
Thales SA declined 0.6% to €155.55 despite the defense contractor estimating higher sales and growth driven by expansion of its cyber security management systems.
Siemens AG advanced 6% to €190.20 after the engineering conglomerate reported higher-than-expected fiscal fourth quarter earnings, but the company lowered its sales outlook for fiscal 2025 amid rising geopolitical uncertainties.
Deutsche Telekom AG jumped 4% to €28.97 after the German telephone company reported better-than-expected third quarter profit and raised its full-year core profit estimate.
Banca Monte dei Paschi di Siena SpA rose 12% to €6.21 after the Italian government sold a 15% stake in the bank to rival Banco BPM.
Banco BPM gained 2.6% to €6.72.
- Inga Muller
- 14 Nov, 2024
- Frankfurt
European markets rebounded after corporate and earnings news supported positive market sentiment.
The eurozone's third quarter GDP growth accelerated to 0.4% sequentially after rising 0.2% in the second quarter, matching the flash estimate, according to a report released by Eurostat on Thursday.
France's jobless rate in the third quarter edged up to 7.4% from 7.3% in the second quarter, according to the data released by the French statistical agency, or INSEE.
The DAX index increased by 1.1% to 19,217.99; the CAC-40 index rose by 1.0% to 7,285.61; and the FTSE 100 index rose by 0.4% to 8,060.07.
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 4.52%, and Italian bonds decreased to 3.59%.
The euro edged lower to $1.05; the British pound inched down to $1.26; and the U.S. dollar strengthened to 89.04 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
ASML Holding NV soared 5% to €660.0 after the advanced chip equipment maker lifted its sales outlook over the next five years despite sales in the current financial year.
CEO Christophe Fouquet that the company's technology is capable of scaling over the next five years to "leverage the artificial intelligence opportunity."
The company guided revenue between 44 billion and 60 billion and gross margin between 56% and 60% by 2030.
The current forecast implies that sales are likely to rise annually between 8% and 14% over the next five years.
Aviva plc gained 4.5% to 476.61 pence after the UK-based insurance company reported meaningful gains in its key business units in the third quarter.
Burberry Group jumped 18.5% to 867.20 pence after the company's recently appointed chief executive, Joshua Schulman, pledged to stabilize the business with a turnaround plan.
Premier Foods plc decreased 0.4% to 187.0 pence after the company reported higher sales and earnings in the first half amid rising demand for its food brands.
Alstom SA soared 7.9% to €21.22 after the French mobility company reported higher-than-expected cash in its interim results driven by rising sales volume and cost savings initiatives.
Thales SA declined 0.6% to €155.55 despite the defense contractor estimating higher sales and growth driven by expansion of its cyber security management systems.
Siemens AG advanced 6% to €190.20 after the engineering conglomerate reported higher-than-expected fiscal fourth quarter earnings, but the company lowered its sales outlook for fiscal 2025 amid rising geopolitical uncertainties.
Deutsche Telekom AG jumped 4% to €28.97 after the German telephone company reported better-than-expected third quarter profit and raised its full-year core profit estimate.
Banca Monte dei Paschi di Siena SpA rose 12% to €6.21 after the Italian government sold a 15% stake in the bank to rival Banco BPM.
Banco BPM gained 2.6% to €6.72.
- Bridgette Randall
- 14 Nov, 2024
- London
European markets advanced following positive earnings and corporate news from leading corporations in France, Germany, and Italy.
Moreover, market sentiment was bolstered after the third quarter's GDP growth in the eurozone was reaffirmed and the jobless rate edged up slightly in the third quarter.
Investors have been on edge after the U.S. election results amid rising worries of political and trade tensions between the U.S. and the eurozone over the next six months and growing uncertainty over the U.S. policy.
Moreover, the next U.S. administration is likely to shift the burden of NATO military spending to Europe and wind out war in Ukraine while cutting off aid and negotiating a quick settlement with Russia.
Eurozone Q3 GDP Growth Reaffirmed In Second Estimate
The eurozone's third quarter GDP growth accelerated to 0.4% sequentially after rising 0.2% in the second quarter, matching the flash estimate, according to a report released by Eurostat on Thursday.
On an annual basis, GDP growth accelerated to 0.9% from an annual rate of 0.6% in the second quarter, matching the preliminary estimate.
France's Jobless Rate Eased In The Third Quarter
France's jobless rate in the third quarter edged up to 7.4% from 7.3% in the second quarter, according to the data released by the French statistical agency, or INSEE.
The unemployed persons in the third quarter increased by 35,000 to 2.3 million, and the jobless rate among women edged lower by 0.2 basis points to 7.2% among women and increased by 0.3% to 7.6% among men.
The activity rate, which measures the number of people in the job market, increased by 0.3% to 74.8%.
The jobless rate among those between the ages of 25 and 49 decreased by 0.1% to 6.6%, and that between 18 and 24 increased by 1.8% to 19.7%.
Meanwhile, the jobless rate for people 50 years and older eased by 0.3% from the second quarter to 7.6%.
Europe Indexes and Yields
The DAX index increased by 1.1% to 19,217.99; the CAC-40 index rose by 1.0% to 7,285.61; and the FTSE 100 index rose by 0.4% to 8,060.07.
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 4.52%, and Italian bonds decreased to 3.59%.
The euro edged lower to $1.05; the British pound inched down to $1.26; and the U.S. dollar strengthened to 89.04 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
ASML Holding NV soared 5% to €660.0 after the advanced chip equipment maker lifted its sales outlook over the next five years despite sales in the current financial year.
CEO Christophe Fouquet that the company's technology is capable of scaling over the next five years to "leverage the artificial intelligence opportunity."
The company guided revenue between 44 billion and 60 billion and gross margin between 56% and 60% by 2030.
The current forecast implies that sales are likely to rise annually between 8% and 14% over the next five years.
Aviva plc gained 4.5% to 476.61 pence after the UK-based insurance company reported meaningful gains in its key business units in the third quarter.
Burberry Group jumped 18.5% to 867.20 pence after the company's recently appointed chief executive, Joshua Schulman, pledged to stabilize the business with a turnaround plan.
Premier Foods plc decreased 0.4% to 187.0 pence after the company reported higher sales and earnings in the first half amid rising demand for its food brands.
Alstom SA soared 7.9% to €21.22 after the French mobility company reported higher-than-expected cash in its interim results driven by rising sales volume and cost savings initiatives.
Thales SA declined 0.6% to €155.55 despite the defense contractor estimating higher sales and growth driven by expansion of its cyber security management systems.
Siemens AG advanced 6% to €190.20 after the engineering conglomerate reported higher-than-expected fiscal fourth quarter earnings, but the company lowered its sales outlook for fiscal 2025 amid rising geopolitical uncertainties.
Deutsche Telekom AG jumped 4% to €28.97 after the German telephone company reported better-than-expected third quarter profit and raised its full-year core profit estimate.
Banca Monte dei Paschi di Siena SpA rose 12% to €6.21 after the Italian government sold a 15% stake in the bank to rival Banco BPM.
Banco BPM gained 2.6% to €6.72.
- Bridgette Randall
- 07 Nov, 2024
- London
European stock market indexes advanced as investors awaited the release of rate decisions from the Bank of England and the U.S. Federal Reserve.
Benchmark indexes in Paris, Milan, Frankfurt, and London advanced more than 1% as investors reviewed the latest batch of positive earnings.
German bond yields surged to 2.49% after the coalition government collapsed paving the way for snap election.
Chancellor Olaf Scholz sacked his finance minister Christian Lindner, ending the three-party coalition that relied on Lindner's pro-business party's support.
Lindner had rejected the spending increase proposed by Scholz's Social Democrats and environmental Green Party to finance investment and avoid cutting welfare spending.
Chancellor Scholz said he plans to seek vote of confidence on January 15 which could lead to early elections before March 15, ahead of the regular election in September 2025.
Germany's economy is expected to shrink for the second consecutive year in 2024 amid weak consumer demand and exports.
Germany's exports declined and imports rose in September from a year ago, shrinking its trade surplus, the Federal Statistical Office, or Destatis, said on Thursday.
Seasonally and calendar adjusted exports decreased 0.2% to €128.2 billion, imports increased 1.3% to €111.3 billion, resulting in the decline of trade surplus to €17.0 billion.
Exports to the member states of the European Union increased 1.8% to €69.4 billion, to the United States rose 4.8% to €14.2 billion, to China fell 3.7% to €7.1 billion, and to the U.K. decreased 4.9% to 6.4 billion.
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 higher to 2.49%, French bonds inched higher to 3.26%, the UK gilts advanced to 4.55%, and Italian bonds decreased to 3.82%.
The euro edged higher to $1.07; the British pound inched higher to $1.29; and the U.S. dollar weakened to 87.65 Swiss cents.
Brent crude decreased $0.52 to $74.40 a barrel, and the Dutch TTF natural gas rose by €0.25 to €40.92 per MWh.
Europe Stock Movers
- Li Chen
- 07 Nov, 2024
- Hong Kong
Benchmark indexes in China and Hong Kong rebounded from morning losses as investors looked forward to fiscal stimulus announcements from the top legislative body on Friday.
The Hang Seng index gained 1.3%, and the CSI 300 index advanced 1.9% after recovering from losses at the opening.
Market indexes were under pressure following the losses in Chinese stocks listed in New York after former U.S. president Donald Trump secured a return to the White House.
Trump had campaigned on imposing as much as 60% tariffs on Chinese goods and implementing additional restrictions on U.S. investments in China.
However, tariffs are likely to have little effect on Chinese companies, as most of the import duties are paid by U.S. consumers.
Only 10% of the listed companies in China and Hong Kong are dependent on exporting to the U.S., buffeting most companies from the hostile environment for the Chinese goods in the U.S. and the European Union.
Investors are looking forward to announcements from the standing committee of the People's National Congress on Friday, and economists are estimating that the lifting of the debt ceiling will provide between 2 trillion yuan ($281 billion) and 7 trillion yuan for fiscal stimulus measures.
China's Surging Exports Drive Trade Surplus Higher In October
China's exports in October rose 12.7% to $309.1 billion; imports decreased 2.3% to $213.3 billion as exporters frontloaded sales ahead of likely tariffs in the U.S. and Europe.
Exports advanced for the seventh month in a row and rose at the fastest pace since July 2022 as exports front loaded sales ahead of punitive tariffs in the U.S. and EU.
Exports to the U.S. increased 8.1%, shipments to the European Union advanced 12.7%, and the ASEAN region gained 15.8% compared with a year earlier.
Exports to Russia jumped 26.7% amid rising sales of passenger cars, appliances, and electronics products.
Trade surplus increased to $95.3 billion in October from $81.7 billion in the previous month and $56.1 billion a year earlier, driven by lower interest rates that contributed to the rising global demand.
Sales for the first ten months in 2024 increased 5.1% to $2.93 trillion, boosted by higher demand for passenger cars, semiconductors and related products, and household appliances.
Chinese exporters are bracing for as much as 60% tariffs in the U.S., which could drive down overall exports by more than 5% in 2025.
China Stock Movers
The Hang Seng index rose 1.3% to 20,800.13, and the CSI 300 index advanced 1.9% to 4,101.89.
Export-driven technology companies, appliance makers, electric vehicle makers, and travel and entertainment companies were in focus.
Midea Group declined 1.8% to HK $69.60, Haidilao International increased 8% to HK $17.72, ANTA Sports increased 3.6% to HK $88.90, and Galaxy Entertainment Group advanced 4.6% to HK $36.20.
BYD declined 2% to HK $277.20, Li Auto gained 1.4% to HK $97.0, and Xpeng Inc. gained 1.2% to HK $50.0.
- Li Chen
- 07 Nov, 2024
- Hong Kong
Benchmark indexes in China and Hong Kong rebounded from morning losses as investors looked forward to fiscal stimulus announcements from the top legislative body on Friday.
The Hang Seng index gained 1.3%, and the CSI 300 index advanced 1.9% after recovering from losses at the opening.
Market indexes were under pressure following the losses in Chinese stocks listed in New York after former U.S. president Donald Trump secured a return to the White House.
Trump had campaigned on imposing as much as 60% tariffs on Chinese goods and implementing additional restrictions on U.S. investments in China.
However, tariffs are likely to have little effect on Chinese companies, as most of the import duties are paid by U.S. consumers.
Only 10% of the listed companies in China and Hong Kong are dependent on exporting to the U.S., buffeting most companies from the hostile environment for the Chinese goods in the U.S. and the European Union.
Investors are looking forward to announcements from the standing committee of the People's National Congress on Friday, and economists are estimating that the lifting of the debt ceiling will provide between 2 trillion yuan ($281 billion) and 7 trillion yuan for fiscal stimulus measures.
China Stock Movers
The Hang Seng index rose 1.3% to 20,800.13, and the CSI 300 index advanced 1.9% to 4,101.89.
Export-driven technology companies, appliance makers, electric vehicle makers, and travel and entertainment companies were in focus.
Midea Group declined 1.8% to HK $69.60, Haidilao International increased 8% to HK $17.72, ANTA Sports increased 3.6% to HK $88.90, and Galaxy Entertainment Group advanced 4.6% to HK $36.20.
BYD declined 2% to HK $277.20, Li Auto gained 1.4% to HK $97.0, and Xpeng Inc. gained 1.2% to HK $50.0.
- Arun Goswami
- 07 Nov, 2024
- Mumbai
Stocks in Mumbai traded down and extended weekly losses after the latest batch of earnings fell short of market expectations.
The rupee traded at a new record low after the U.S. dollar rebounded following the results of the latest presidential and congressional elections.
The Sensex index decreased by 1.0% to 79,592.61, and the Nifty index dropped by 1.0% to 24,237.80.
On the Mumbai stock exchange, 134 stocks traded at their 52-week highs, and 10 stocks traded at their 52-week lows.
Apollo Hospital increased 6.5% to ₹7,421.0 after the company reported quarterly results.
Revenue in the September quarter increased to ₹5,590 crore from ₹4,850 crore, and net income advanced to ₹380 crore from ₹233 crore a year ago.
Kansai Nerolac Paints declined 2.1% to ₹279.65 after the company reported a decline in quarterly profit.
Revenue in the September quarter increased to ₹1,860 crore from ₹1,845 crore and net income declined to ₹130 crore from ₹180 crore a year ago.
Power Grid Corporation declined 1.3% to ₹314.30 after the power distribution company reported a decline in revenue and earnings in the September quarter.
Revenue in the September quarter decreased to ₹10,260 crore from ₹10,400 crore and net income declined to ₹3,700 crore from ₹3,800 crore a year ago.
The company declared an interim dividend of ₹4.50 per share.
Blue Star Ltd. declined 7.60% to ₹1,739.95 after the company reported weaker-than-expected revenue in the September quarter.
Revenue increased to ₹2,280 crore from ₹1,890 crore, and net income advanced to ₹96.2 crore from ₹70.7 crore a year ago.
Sonata Software declined 1.3% to ₹623.75 after the company reported a decline in profit in the September quarter.
Revenue increased to ₹2,170 crore from ₹1,913 crore, and net income declined ₹110 crore from ₹124 crore a year ago, respectively.