European tech stocks like Infineon Technologies and SAP experienced losses, while auto stocks had a mixed session with companies like Daimler Truck Holding and Volkswagen declining, and others like Mercedes Benz Group and Porsche advancing. The upcoming speech by ECB Chief Economist Philip Lane could provide insights into inflation, economic outlook, and ECB interest rate
Investment
The largest official sector buyer of gold, China, is expected to resume its bullion shopping once prices ease from the record highs experienced in May. This information was revealed at a recent conference where industry players discussed the fundamental case for the metal moving forward. Despite a pause in their gold reserves in May, the
GameStop shares took a steep nosedive, dropping over 14% on Monday, following a significant sell-off triggered by disappointing earnings and an underwhelming livestream by Keith Gill. The stock, which had already plummeted nearly 40% on Friday, hit a low of around $24 per share on Monday. The release of GameStop’s earnings report ahead of schedule
French President Emmanuel Macron’s announcement of snap elections following the European Union (EU) elections took many by surprise. The decision to dissolve parliament and call for new legislative elections came after exit polls showed his alliance suffering a heavy defeat to Marine Le Pen’s far-right National Rally (RN) party. Macron’s call for lower house elections
In a bold move to shake up the private equity investing industry, CEO Kelly Rodriques from the alternative trading platform Forge Global is on a mission to revolutionize the way investors access unicorns. Partnering with Accuidity, Rodriques introduced the Forge Accuidity Private Market Index, a groundbreaking financial innovation aimed at broadening the participation of investors
The recent decision by the European Central Bank (ECB) to cut its benchmark interest rate has raised questions about the future direction of borrowing costs in the Eurozone. The rate cut from 4.0% to 3.75% was widely anticipated, given the disappointing wage and inflation data in recent weeks. However, the head of Austria’s central bank,
A group of Credit Suisse bondholders recently made headlines by filing a lawsuit against the Swiss government. They are seeking full compensation for the controversial decision to write down the failed bank’s Additional Tier 1 (AT1) debt. This move was part of Credit Suisse’s emergency sale to UBS, which was orchestrated by the Swiss government.
Nio, the Chinese electric car company, is gearing up for an expansion into the Middle East market as part of its strategic plan for growth and global presence. CEO William Li announced the move during an earnings call, revealing the company’s ambitious plans to introduce its products and services in the United Arab Emirates by
The Japanese Yen has shown appreciation in recent times due to improved risk sentiment in the market. This shift can be attributed to various economic reports that have been released, impacting the currency’s value. One of the key factors influencing the Japanese Yen is the data coming out of the United States. For example, the
In a recent announcement, buyout firm Apollo Global Management revealed plans to acquire a 49% equity interest in Intel’s manufacturing facility located in Ireland for a staggering $11 billion. This strategic investment marks a significant move in the semiconductor industry and is expected to have implications for both Intel and Apollo. With the acquisition of
In the world of meme stocks and online trading, Keith Gill has made a name for himself as a champion of GameStop. Starting with a $53,000 bet in his favorite video game retailer almost five years ago, Gill’s net worth has now skyrocketed to over $289 million. Known as “DeepF——Value” on Reddit and “Roaring Kitty”
European shares saw a steady increase for the third consecutive session as investors eagerly awaited the predicted interest rate cut by the European Central Bank (ECB). The STOXX 600 ended the day with a 0.3% rise, with Spanish and Italian stocks leading the gains at 0.7% and 0.5% respectively. The positive sentiment in the market
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