As a result, European shipping stocks are likely to continue trading in a volatile manner due to concerns about disruptions in Red Sea routes caused by militant attacks, potentially leading to increased freight rates. The threats near Egypt's Suez Canal may impact rates as vessels opt for alternative, longer routes. Key players such as Moller-Maersk,…
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The Preliminary HCOB Services PMI for December dropped to 48.1, a decline from November's 48.7, defying expectations of a slight rise to 49. This indicates that the activity in the Eurozone’s crucial services sector is shrinking more rapidly than it did in the previous month. Similarly, the Manufacturing PMI remained static at 44.2, contrary to…
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The expansion not only offers a broader range of stock options to eToro's users but also aligns with the company's mission to provide cost-effective trading solutions. The users now have the chance to diversify their investment portfolios more robustly by adding these stocks. The expansion covers a variety of new stocks, thus broadening investment choices…
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With 650bn yuan worth of MLF loans set to expire in December, the operation resulted in a net injection of 800bn yuan into the banking system, marking the most substantial monthly increase on record. The positive momentum extended beyond financial markets, with Chinese property stocks rallying due to the extension of eased home-buying restrictions to…
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Traders also positioned themselves for improved demand in 2024, anticipating lower interest rates and a strengthened US economy, thus impacting global markets. The IEA supported this notion by slightly revising its oil demand forecast for 2024 this week, although it remained below the projections made by the Organization of the Petroleum Exporting Countries and Allies…
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On the currency front, the pound continued to trade at around $1.27 on Friday morning. Meanwhile, the FTSE held a steady position, the DAX in Frankfurt exhibited a 0.5% increase, and the CAC in Paris rose by 0.3%. Additionally, the flash UK PMI Composite Output Index for the private sector reached a six-month high at…
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TMX to acquire the remaining ~78% of the common units of VettaFi for US $848m. Deal accelerates long-term growth strategy as well as financial and transformational objectives Increases proportion of revenue from recurring and global sources Adds innovative new client service team and capabilities to GSIA, TMX's fastest-growing segment TMX has announced an agreement to…
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This announcement from BidX Markets follows shortly after a warning issued by the UK’s Financial Conduct Authority (FCA) against investment platforms engaging in "double dipping" – a practice where platforms retain a portion of interest on client cash balances while charging an additional fee for cash management. Simon Blackledge, the CEO of BidX Markets, said:…
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Valued at 15.4 times its projected 2024 adjusted EBITDA, VettaFi boasts over 80% recurring revenue. TMX Group expects the acquisition to positively impact its adjusted earnings per share within the first year. The deal, financed through $1 billion in bank debt, is anticipated to be finalised in January 2024. John McKenzie, the CEO of TMX…
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Investors are turning their attention to talks between the Bank of England (BOE) and the European Central Bank (ECB) which are set to take place later this afternoon. According to experts, the main point of conversation will be the easing of global rates, depending on whether neighbouring markets are ready for such decisions. Don’t miss…
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