4 min read Last Updated : Oct 08 2024 | 11:54 AM IST Shares of metal companies were trading weaker on Tuesday, down by up to 8 per cent on the National Stock Exchange (NSE) in today’s intraday trade.Stocks of companies operating in the sector were under pressure due to profit booking by investors on concerns of disappointing earnings in the September quarter (Q2FY25) due to weak metal prices, apart from the lack of any new fiscal measures aimed at boosting demand and consumption in the Chinese economy, by the National Development and Reform Commission (NDRC), at a press conference…
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By Ann Saphir and Michael S. Derby (Reuters) -Slowly cooling inflation and a U.S. job market that remains strong but at risk of deteriorating give a green light for more interest-rate cuts in coming months, likely at a gradual pace, Federal Reserve policymakers indicated in remarks on Thursday that mirrored views of financial markets. Markets strengthened bets the Fed would deliver a quarter-point rate cut at next month’s policy meeting after data showed consumer price inflation edged down to 2.4% in September from a 2.5% pace the prior month. A separate report showed a surge in weekly claims for unemployment…
The S&P 500 and Vanguard’s Total Stock Market Index Fund have surged over 30% in 2024.Ken Fisher and Warren Buffett advocate contrarian and fundamental investing strategies.GuruFocus tracks top investors’ stock picks, highlighting 15 popular stocks among gurus. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy. You can opt-out at any time by visiting our Preferences page or by clicking “unsubscribe” at the bottom of the email. Everyone thinks they’re a stock picker when the market…
US stocks wavered on Thursday after the latest consumer inflation print came in hotter than anticipated, setting up expectations for the path of interest rates.The Dow Jones Industrial Average (^DJI) slipped 0.1%, while the S&P 500 (^GSPC) hugged the flatline, after both clinched fresh record highs. The tech-heavy Nasdaq Composite (^IXIC) climbed into positive territory after dipping as much as 0.5%.Chip heavyweight Nvidia (NVDA) climbed more than 1% while e-commerce giant Amazon (AMZN) also rose, helping lift the Nasdaq.Consumer prices rose 0.2% last month, according to US government data, more than the 0.1% rise Wall Street was expecting. On an…
IFRS 18 Presentation and Disclosure in Financial Statements will usher in the most significant change to the statement of profit or loss since IFRS Accounting Standards were introduced more than 20 years ago to make the financial statements of public companies consistent and transparent. The new Standard responds to investors’ concerns about challenges in comparing companies’ financial performance. Today, companies’ statements of profit or loss vary considerably in content and structure. IFRS 18 will give investors more transparent and comparable information about companies’ financial performance and support better investment decisions. IFRS 18 is not effective until 1 January 2027,…
By Justyna Pawlak, Simon Johnson STOCKHOLM (Reuters) -South Korean author Han Kang won the 2024 Nobel Prize in Literature for “her intense poetic prose that confronts historical traumas and exposes the fragility of human life”, the award-giving body said on Thursday. The prize is awarded by the Swedish Academy and is worth 11 million Swedish crowns ($1.1 million). “She has a unique awareness of the connections between body and soul, the living and the dead, and in her poetic and experimental style has become an innovator in contemporary prose,” Anders Olsson, chairman of the Academy’s Nobel Committee, said in a…
In a major strategic move, Rio Tinto has agreed to acquire U.S.-based Arcadium Lithium for $6.7 billion, marking a significant step in transforming it into a global leader in the lithium market. The all-cash deal, offering a 90% premium to Arcadium’s share price, positions Rio Tinto as the world’s third-largest producer of lithium which is a critical component in electric vehicle (EV) batteries and energy storage solutions. Significantly, this acquisition, announced on October 9, underscores Rio Tinto’s commitment to the energy transition by expanding its footprint in low-carbon, high-demand raw materials. A MESSAGE FROM Li-FT POWER LTD. Lithium Deposits That…
Image source: Getty Images Investing in the penny stock space already carries the risk of heightened volatility, and the waters may get even choppier come 30 October. That’s when Chancellor Rachel Reeves will unveil the government’s budget aimed at stabilising the UK’s public finances. It’s now feared that inheritance tax relief on AIM-listed companies will be scrapped. This may force financial advisers to recommend their clients sell AIM stocks. This is due to ‘consumer duty’ rules, designed to protect clients from potential losses that advisers could have foreseen. Many UK small caps, including the majority of penny stocks, are listed…
The latest inflation report came in slightly hotter than expected, knocking stock prices lower. But there are some encouraging signs within it. The consumer price index rose 0.2% in September on a month-over-month basis and 2.4% from the year-earlier period . Economists polled by Dow Jones had forecast a 0.1% gain month over month and 2.3% increase year over year. Core CPI, which strips out food and energy, also was more than expected. Some investors worried the report means the Federal Reserve may not be able to cut rates further. But the odds of a quarter-point Fed rate cut in…
Volkswagen has issued a recall for certain 2024 Atlas and Atlas Cross Sport models due to a potential brake system issue. The brake master cylinders in these vehicles may have been assembled with the wrong secondary piston spring retainer, which could lead to reduced braking performance. The faulty retainer may prevent the piston from returning to its proper position, blocking the brake fluid port. This issue was discovered by Volkswagen on August 28 during the brake fluid filling process at their Chattanooga plant. The recall affects vehicles produced between August 28 and September 12, 2024. Volkswagen has not yet provided…