UK RETAIL DATA
Doordash held talks with UK's Deliveroo on takeover
Doordash showed interest in acquiring Deliveroo, but talks ceased over valuation. Deliveroo's shares closed at 127.5 pence, valuing the company at 2.1 billion pounds. Amazon, DST Global, and CEO Will Shu are key shareholders. Analysts noted the potential for cross-border M&A in the food delivery sector. Doordash's CEO, Tony Xu, aimed for global diversification through acquisitions.
Gold edges higher as weak US data lifts Fed rate-cut bets
Gold prices rose on Thursday amid expectations of a Federal Reserve interest rate cut, while investors awaited key data on retail sales, jobless claims, and inflation pressures.
Asian stocks rise on tech rally, Fed rate cut wagers
Asian shares rose to a three-week high driven by tech stock rally as the dollar struggled post soft U.S. retail sales data, hinting at potential Fed rate cuts.
Dollar steadies; sterling dips ahead of inflation test
The dollar weakened after soft U.S. retail sales data increased expectations of Federal Reserve rate cuts, while sterling dipped ahead of UK inflation data. Markets predict a 67% chance of rate cuts in September.
Ahead of Market: 10 things that will decide stock action on Tuesday
Indian benchmark equity indices, Sensex and Nifty50, logged record closing highs for a second straight session on Friday, driven by state-run companies and energy stocks on hopes of continued capital expenditure spending by the new government.
Asia shares muted on mixed China data, euro pressure
Asian share markets softer on mixed Chinese economic data. European political uncertainty persists. Swiss National Bank may ease. Markets await U.S. retail sales and Fed speeches. French political risks weigh on euro. Gold and oil prices stable.
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Gold inches lower as firmer bond yields dent appeal
Gold prices fell due to higher U.S. Treasury yields as investors awaited economic data to predict Federal Reserve's interest rate cuts.
UK economy shows no growth in April in bad timing for Sunak
In early 2024, Britain's economy saw a quick recovery but stalled in April due to drops in industrial and construction output, posing challenges for Prime Minister Rishi Sunak before the July 4 election. The Office for National Statistics reported flat GDP in April following a March rise, contrary to economist predictions. The country is facing declining employment and rising unemployment, prompting opposition criticism of Sunak's optimistic campaign narrative.
Gold holds steady as investors await US data for more Fed clues
Gold prices steadied as investors awaited U.S. economic data for clues on Federal Reserve's monetary policy easing. Spot gold stood at $2,326.86 per ounce and U.S. gold futures at $2,347.40.
Europe's STOXX 600 dips as rate worries linger
European shares slipped for a third straight session on Thursday ahead of further economic data from the euro zone that will provide more clues on the European Central Bank's interest rate path, while rate woes continued to dampen sentiment.
Charting the Global Economy: New policies considered to be trade-restrictive hit a record in 2023
The world’s three dominant economies are entering a new, combative phase as the US increasingly uses trade weapons borrowed from China’s playbook.
GIFT Nifty down 30 points; here's the trading setup for today's session
"Investors would now focus on Nivida earnings, US Fed meeting minutes, and UK inflation which will be released late today. Overall, we expect positive sentiments to continue in the market," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
GIFT Nifty up 10 points; here's the trading setup for today's session
"Despite FIIs selling and India Vix at elevated levels, markets have stabilized and we expect a gradual up-move going forward. Key events to watch this week – UK inflation data, US Existing Home Sales number and FOMC meeting minutes," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial
Unconventional market signals: Unveiling special opportunities in investing for superior returns
By embracing a more nuanced approach to investing and staying vigilant for special situations, retail investors can position themselves to capitalize on opportunities that often get overlooked. By understanding and capitalizing on special opportunities such as demergers or spinoffs, holding company discounts, and promoter buying, investors can generate superior returns as these strategies have a positive historical track record.
Big Funds bet the ‘anything but bonds’ trade is poised to end
US bond investors increase positions in long-dated high-grade corporate bonds, expecting gains from future interest rate cuts. Market attention is on upcoming bond sales and key economic data releases globally. The “anything but bonds trade” may now have run its course and long-duration debt is set for a comeback in the second half.
Gold rallies on rate cut expectations amid US economy slowdown
Spot gold rose on Friday despite US inflation data, anticipating rate cuts amid a weakening US economy. US CPI and PPI Final demand were below forecasts. US Fed Chair Powell remains optimistic about inflation. US Philadelphia Fed business outlook was below expectations. Fed officials hold varying views on rate adjustments.
Shein steps up London IPO preparations amid US hurdles to listing
Shein pivots to a London IPO from New York, facing U.S. regulatory challenges. The online retailer, valued at $66 billion, navigates hurdles with plans for a dual U.S. listing post-London float, monitoring the political climate.
Longer for higher rates may dim gold’s shine next week
Next week, US CPI data will be released, which will be crucial for gold. In case of hotter-than-expected inflation data, gold will fall. The bullion rally has coincided with a rally in risk assets and bonds.
UK exits 'recession' with better-than-expected 0.6% GDP growth
Britain's economy grew by 0.6% in Q1 2024, surpassing expectations and ending the previous recession. The Office for National Statistics reported stronger growth than anticipated, contrasting with forecasts. Prime Minister Rishi Sunak may find relief, but opposition claims disconnect. Bank of England predicts continued growth, with March showing 0.4% expansion.
Behind ghost shopping malls, a new consumer trend glimmers
Ghost shopping malls with a vacancy rate of 40% or higher in 2023 are on the rise, with a 59% year-on-year increase in top 8 metros, resulting in 13.3 million sqft of retail space remaining vacant. The loss in value amounts to $800 million. High-grade malls are thriving due to premiumisation and a focus on consumer experience, leading to larger store sizes and better shopping experiences. New factory outlet malls are also set to surge in India.
Paris, Milan become the new favourite shopping destinations for travellers after London's 'Tourist Tax'
After Brexit, the UK discontinued tax-free shopping incentives, leading thousands of tourists to redirect their shopping to Paris, Milan, and Madrid. Despite lobbying efforts, the UK remains steadfast in its decision. The shift has resulted in increased spending per person, particularly in France and Italy. While some argue the policy negatively impacts tourism, the UK government asserts it benefits public finances.
Second half of FY25 will be much stronger for IT industry: Mastek CEO
Mastek CEO Chandrana discusses FY24 growth, soft Q4 revenue, optimism for FY25. He also talks about Mastek's share in a $1.2-billion UK Ministry of Defence project, client conversations, and margin profile target of 17-18%. Chandrana says: "As far as the revenue and growth is concerned, in dollar terms, we grew 15.8% YoY. If you remove the small acquisition that we did in FY24, we still grew at a fairly healthy rate compared to competition. "
TCS setting up four large BSNL data centres in Rs 15,000 crore 4G deal
Tata's IT arm and C-DOT, a government agency, will deploy India's first locally developed 4G network solution for BSNL across its entire service area. This involves installing equipment at 38 locations.
Wet wipes containing plastic to be banned from sale in UK
The devolved regions of Northern Ireland, Scotland and Wales are expected to follow on with their legislation later in the year to make it a UK-wide ban as part of an aligned approach.
All in a day! Gold sees sharp decline on Friday, but ends with weekly gains
The metal lost buying momentum after hitting a fresh record high of $2431 to settle lower. The yellow metal closed with a loss of 1.37% at $2344 Friday.
UK retail sales rise after 10 months of falls, CBI says
British retail sales rose slightly in March following a 10-month decline. However, sales are expected to decrease in April. The CBI's monthly retail sales balance improved from -7 to +2 in February, indicating a potential stabilization in the sector.
UK retail sales rise by most in nearly three years, suggesting recession will be short-lived
In January, British retail sales surged by a robust 3.4%, surpassing economists' expectations and marking the largest increase since April 2021, following a sharp 3.3% decline in December, the steepest since January 2021. Analysts suggest this signals a diminishing impact of higher interest rates on consumer spending, indicating a potential exit from recession soon.
Recession-threatened UK economy rebounds in November, official data shows
Britain's recession-threatened economy rebounded in November from the previous month, official data showed on Friday. Separate recent data showed Britain's economy shrank in the third quarter of last year, raising fears of a recession before UK elections expected in 2024.
UK retail sales slide again in October in new blow for economy
British retail sales volumes dropped 0.3% in October, a new warning sign for the economy, as consumers stayed at home. The figures fit the darkening outlook for Britain's economy, with economic growth stagnant and strong price pressures fading slowly. Retailers suggest cost of living, reduced footfall, and wet weather contributed to the fall.
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