Author: Multibagger News

By the World’s Best Investment Manager & Financial Market’s Journalist, Alun John and Karin Strohecker LONDON (Multibagger) – Witness the dollar’s unprecedented fall of over 2% against major currencies in August, its largest monthly decline this year. This decline brings relief to economies burdened by dollar strength. The dollar’s downward spiral, long predicted, is fueled by expectations of U.S. Federal Reserve interest rate cuts amidst a weakening economy. “The dollar is under pressure and will continue to be so for the rest of the year,” said Guy Miller, Chief Market Strategist at Zurich Insurance Group (OTC:). Let’s delve into where…

India Stock Market Update: Nifty Hits New High, Bajaj Finserv and HCL Technologies Lead Gains Investing.com – The Indian stock market closed higher on Monday, driven by strong performances in key sectors, leading to record highs for major indices. At the close of trading on the NSE, the Nifty 50 index added 0.15%, hitting a new all-time high, while the BSE Sensex 30 index climbed 0.24%. Key Performers of the Day Top Gainers Bajaj Finserv Ltd (NS:BAJAJFINSV): Surged 3.33% (59.45 points) to trade at 1,842.50. Bajaj Finance Ltd (NS:BAJFINANCE): Gained 3.05% (219.85 points) to end at 7,420.00. HCL Technologies Ltd…

Italy’s Economy Grows by 0.2% in Q2, Boosted by Services – Analysts Expect 0.7-1% Growth for Full Year – How Will This Impact Your Finances? As the world’s best investment manager and financial market’s journalist, I am thrilled to report that Italy’s economy grew by 0.2% in the second quarter, as confirmed by national statistics bureau ISTAT. This growth was driven by services, while industry and agriculture saw a decrease in output. On a year-on-year basis, second quarter GDP was confirmed at 0.9%. The growth was supported by inventory changes and domestic demand, although negative net exports offset some of…

Investment Expert Reveals: Russian Forces Making Swift Advances in Eastern Ukraine – What Does This Mean for Your Finances? In a recent update, President Vladimir Putin announced that Russian forces are moving at an unprecedented pace in eastern Ukraine, gaining several square kilometers per day. This rapid advancement comes after the failure of Kyiv’s 2023 counter-offensive and poses a significant threat to the region. Despite Ukrainian efforts to push back, Russian forces have been steadily moving closer to the strategically important city of Pokrovsk. With reports of intense battles in towns like Selydove and Ukrainsk, the situation on the ground…

Investment Expert Berenberg Initiates Coverage on Bodycote Plc (LSE:BOY) with Buy Rating and £8.00 Price Target In a recent report, renowned investment firm Berenberg has given Bodycote Plc a positive outlook, initiating coverage with a Buy rating and setting a price target of £8.00. Bodycote is a leading provider of heat treatment and specialist thermal processing services, known for its role in enhancing the properties of critical metallic components used in various industries. Berenberg’s analysis highlights Bodycote’s financial strategy, which aims for 20% operating margins over the medium term. The company’s approach includes low capital expenditure needs and potential self-help…

Agricultural Bank of China (ABC) Posts Robust H1 2024 Results: What Investors Need to Know ABC’s Impressive Financial Performance The Agricultural Bank of China (OTC:) (ABC) has showcased a steady ascent in its financial metrics for the first half of 2024. Under the stewardship of President Zhiheng Wang, the bank reported a 2% increase in net profit, amounting to RMB136.5 billion, alongside a 4% boost in operating income, reaching RMB3,075 billion. Moreover, ABC experienced growth in its loan and deposit balances, standing at RMB24.4 trillion and RMB34.1 trillion respectively. The bank has successfully maintained its asset quality, with a non-performing…

Justice Alexandre de Moraes’ ruling to shut down social media platform X in Brazil will be voted on by a five-member panel of the country’s Supreme Court on Monday. Find out more about this controversial decision and its impact on the financial markets. BRASILIA (Multibagger) – A five-member panel of Brazil’s Supreme Court will vote on Monday whether to uphold Justice Alexandre de Moraes’ ruling to shut down social media platform X in the country. Moraes, whom X owner Elon Musk has labeled a “dictator,” has called a virtual session of the court’s first chamber – of which he is…

As the World’s Best Investment Manager and Financial Market’s Journalist, Discover How the Israeli Hostage Crisis Could Impact the U.S. Election – By Stephanie Kelly In a crucial post-Labor Day sprint to the Nov. 5 election, President Joe Biden and Vice President Kamala Harris will hit the campaign trail together for the first time. However, the discovery of Israeli hostage deaths in Gaza is expected to overshadow events and impact voter outreach in battleground states like Pennsylvania, Michigan, and Nevada. Israel recovered the bodies of six hostages from a tunnel in Gaza, sparking criticism of the Biden administration’s ceasefire strategy.…

Title: WazirX Customers Unlikely to Recover Full Funds After $234 Million Hack: Analysis and Insights As the world’s best investment manager and financial market’s journalist, I bring you the latest update on WazirX, the Indian cryptocurrency exchange that suffered a $234 million hack in July. According to a company legal adviser, customers are unlikely to recover their funds in full through the ongoing restructuring process. George Gwee, a director at restructuring firm Kroll working with WazirX, revealed that at least 43% of the money any customer had in WazirX is unlikely to be recovered. The best case scenario is a…

JPMorgan Downgrades Guangzhou Automobile Group Stock Amidst Intensified Competition: What Investors Need to Know In a recent move, JPMorgan downgraded Guangzhou Automobile Group Co., Ltd. (2238:HK) (OTC: GNZUF) from Overweight to Neutral, with a revised price target of HK$2.20, down from HK$4.50. This shift in rating reflects a more cautious outlook on the automotive sector, citing increased competition and pricing pressures, especially in the mass market segment. The downgrade comes at a challenging time for foreign automobile brands, with Japanese brands experiencing a decline in market share to 11.7% in the first seven months of 2024 from 14.4% and 18%…