Author: Multibagger News

Investing.com – The U.S. dollar slipped lower in early European trade Thursday as weak economic data raised expectations of interest rate cuts by the Federal Reserve, while sterling edged higher as the U.K. went to the polls. At 04:20 ET (08:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower at 104.900, extending steep overnight declines. Economic weakness hits dollar The dollar retreated slightly Thursday, continuing Wednesday’s weakness, after the release of data showing softer-than-expected employment figures and a weak reading on non-manufacturing activity. This data has increased expectations that a…

European Shares Surge on Federal Reserve Rate Cut Optimism; UK Markets Rally on Labour Party Win Predictions European shares saw a significant boost on Thursday as optimism grew over potential interest rate cuts by the Federal Reserve following weak U.S. data. London markets also gained ground as voting began in the UK, with opinion polls forecasting a historic win for the Labour party. The pan-European index rose 0.3% by 0710 GMT, with the banking sector leading the gains. Automobiles added 0.8%, driven mainly by German automotive supplier Continental, which jumped as much as 9.6%. The UK’s FTSE 100 advanced 0.5%…

Exclusive Deal: India’s Reliance Industries Signs One-Year Deal with Russia’s Rosneft to Buy Oil in Roubles Date: 28 May 2024 Time: 2:34 pm Multibagger has exclusively reported that India’s Reliance Industries, the operator of the world’s largest refining complex, has entered into a one-year agreement with Russia’s Rosneft to purchase a minimum of 3 million barrels of oil per month in roubles. Market Impact: India, the world’s third-largest oil importer and consumer, has now become the top buyer of seaborne Russian crude following the cessation of purchases by Western countries and the imposition of sanctions on Moscow after Russia’s invasion…

Puma SE (PUM:GR) Stock Analysis: RBC Capital Maintains Sector Perform Rating with €47.00 Price Target In a recent update, RBC Capital reaffirmed its Sector Perform rating on Puma SE (PUM:GR) stock, keeping the price target steady at €47.00. The analysis indicates that Puma’s second-quarter results in 2024 may not be strong enough to change the company’s stock narrative, despite expectations of improved gross margins. While Puma’s performance is better than Nike’s, it lags behind Adidas’ current trajectory. The market has already priced in a potential acceleration in the second half of the year for Puma. Although Puma’s valuation may seem…

Tesla Model Y Joins China’s Government Car Fleet: A New Milestone in Electric Vehicle Adoption SHANGHAI (Multibagger) – Tesla’s (NASDAQ: TSLA) flagship Model Y has achieved a significant breakthrough, now listed among the electric and plug-in hybrid vehicles that can be procured by local governments in China. This landmark decision, reported by the official Chinese media outlet, The Paper, marks the first instance of Tesla’s inclusion in government vehicle purchases in China. The eastern Jiangsu provincial government has released 56 batches of new energy vehicle procurements intended for use by party, government, and public organizations. Among these, Tesla’s Model Y…

China’s Economic Cooperation Program in Africa Bouncing Back Post-COVID: Multibagger Analysis A recent analysis by Multibagger of lending, investment, and trade data has revealed that China’s flagship economic cooperation program is on the rise again after a slowdown during the global pandemic, with a renewed focus on Africa. Market Impact Chinese sovereign lending, which was once the primary source of financing for Africa’s infrastructure, is currently at its lowest level in two decades. Additionally, public-private partnerships (PPPs), which China has been promoting as its preferred investment vehicle globally, have yet to see significant success in Africa. Analysis: China’s renewed focus…

Volvo Cars’ Sales Surge 8% in June, Bolstered by Electric and Hybrid Models Volvo Cars Achieves Robust 8% Sales Growth in June, Driven by Electric and Hybrid Models COPENHAGEN (Multibagger) – In a stellar display of market resilience and strategic innovation, Volvo Cars reported an impressive 8% increase in sales for June, compared to the same month last year. The Sweden-based automaker, majority-owned by China’s Geely Holding, announced that it sold 71,514 cars in June, buoyed by robust performances in Europe and Latin America, and the burgeoning popularity of its new fully electric model, EX30. In a statement released on…

The Shocking Case of American Tourists Sentenced for Murder in Italy: What Investors Need to Know As the world’s best investment manager and financial market journalist, I bring you the latest update on the Italian appeals court reducing the prison terms for two American tourists involved in the murder of a police officer. Finnegan Lee Elder, 19 at the time, will now serve 15 years and two months, while his friend, Gabriel Christian Natale-Hjorth, will serve 11 years and 4 months. This case has been through multiple trials and appeals, with the sentences fluctuating over the years. Prosecutors had called…

Breaking News: Norwegian Gas Outage Pushes Europe’s Gas Prices to Record Highs, But Relief Is in Sight As the world’s best investment manager and financial market journalist, I bring you exclusive insights into the recent outage of gas exports from Norway to Britain. This unprecedented event has caused a surge in Europe’s gas prices, reaching the highest level seen this year. According to Multibagger, the outage was due to problems on an offshore platform operated by Gassco, leading to a disruption in gas flow for five days. However, there is good news on the horizon as the flow of gas…

Breaking News: RBC Capital Adjusts Pandora A/S (PANDY) Price Target Down to DKK9.20 – What Investors Need to Know RBC Capital recently revised its financial outlook for Pandora A/S (PANDY) shares, lowering the price target to DKK9.20 from DKK10.50. This adjustment reflects expectations for the second quarter of 2024, where a 7% like-for-like increase in retail sales is anticipated, along with the launch of the Essence collection. However, increased operational expenditures may limit operating leverage. The firm also revised its full-year 2025 forecasts for Pandora, considering the impact of rising commodity prices, which could lead to a 260 basis point…