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Swiss fintech company Temenos AG is facing turmoil after a report by Hindenburg Research alleged serious flaws in the company's books, including "major accounting irregularities" and manipulated earnings. The report claims to have conducted a four-month investigation and interviewed 25 former employees. Temenos has denied the allegations, stating that the report contains factual inaccuracies and misleading allegations. Hindenburg Research has a track record of targeting high-profile businessmen and causing significant drops in their firms' market capitalization. Temenos shares have dropped significantly following the report. [Extracted from the article]

Novo Nordisk A/S, a weight-loss drug firm, has experienced a significant rally in its stock price over the past four years. Despite concerns from analysts about the stock's valuation, it is currently trading at a 30% discount to its US competitor, Eli Lilly & Co. The competition between Novo and Lilly in the weight-loss drug market has intensified, with both companies striving to increase production to meet high demand. Novo's strategy includes ramping up production to challenge Lilly's dominance in the sector. This could lead to improved growth for Novo in the second half of the year. [Extracted from the article]

Viking Holdings Ltd., a cruise operator, is planning to raise up to $1.1 billion through an initial public offering (IPO) in New York. The company and its existing shareholders are offering 44 million shares at a price range of $21.00 to $25.00 per ordinary share. This move comes as the travel industry recovers from the impact of the COVID-19 pandemic, with a surge in cruise bookings. Viking, founded in 1997, operates cruises worldwide and has 92 vessels. Its 2023 revenue was $4.7 billion. The company's major stakeholders include Viking's Chairman and CEO Torstein Hagen and his family, private equity firm TPG Inc., and the Canada Pension Plan Investment Board. [Extracted from the article]

Planisware, a software company, experienced a successful trading debut in Paris, with its shares jumping as much as 33% after raising €278 million ($297 million). This marks a positive development for France's stock market, which has struggled to attract tech and media companies in recent years. However, some experts caution that the success of Planisware may be specific to the company and that smaller European tech IPOs may struggle to generate strong interest from retail investors. Planisware's founders will retain a majority stake, and cornerstone investors, including CDC Tech Premium, have provided €100 million. [Extracted from the article]

Financial markets are concerned about the potential for retaliation after Iran launched a strike on Israel. This escalation of the Middle East crisis could add to existing market volatility caused by inflation and interest rate concerns. If the conflict widens, oil prices could surpass $100 a barrel, leading to a flight to safe-haven assets such as Treasuries, gold, and the dollar. However, the impact on markets may be tempered by Iran's statement that the matter is concluded and President Joe Biden's assurance that the US won't support an Israeli counterattack. [Extracted from the article]

Financial markets are concerned about the potential for retaliation after Iran launched a strike on Israel. This escalation of the Middle East crisis could add to existing market volatility caused by inflation and interest rate concerns. If the conflict widens, oil prices could surpass $100 a barrel, leading to a flight to safe-haven assets such as Treasuries, gold, and the dollar. However, Iran's statement that the matter is concluded and President Joe Biden's assurance that the US won't support an Israeli counterattack may temper market nerves. Investors will closely watch oil prices as a guide for how to respond, and there are concerns that a wider conflict could disrupt tanker shipments from the Persian Gulf. The S&P 500 has already experienced a decline due to inflation and disappointing bank earnings. Traders will also consider the impact of more expensive energy bills on inflation fears in the bond market. Gold and the US dollar have seen increased demand as investors seek stability. The reaction of Israel and the US will be crucial in determining market sentiment and whether the situation escalates further. [Extracted from the article]

Financial markets are concerned about the potential for retaliation after Iran launched a strike on Israel. This escalation of the Middle East crisis could add to existing market volatility caused by inflation and interest rate concerns. If the conflict widens, experts predict that oil prices could surpass $100 a barrel, leading to a flight to safe-haven assets such as Treasuries, gold, and the US dollar. The impact of the situation may extend beyond the Middle East, affecting global inflation and energy prices. Investors will closely monitor the risk of a strike and counter-strike cycle, with oil prices serving as a key indicator. [Extracted from the article]

Financial markets are concerned about the potential for retaliation after Iran launched a strike on Israel. This escalation of the Middle East crisis could add to existing market volatility caused by inflation and interest rate concerns. If the conflict widens, oil prices could surpass $100 a barrel, leading to a flight to safe-haven assets such as Treasuries, gold, and the dollar. However, Iran's statement that the matter is concluded and President Joe Biden's assurance that the US won't support an Israeli counterattack may temper market nerves. Investors will closely watch oil prices as a guide for their response, and there are concerns that a wider conflict could disrupt tanker shipments from the Persian Gulf. [Extracted from the article]

European stocks declined on Tuesday due to uncertainty surrounding the number of interest-rate cuts the Federal Reserve will implement this year and caution ahead of US inflation data. The Stoxx 600 index fell by 0.6% in London, with insurance, construction, and industrial sectors experiencing the largest declines. Mining stocks, on the other hand, received a boost as iron ore saw its largest two-day rally in over two years. The rally in oil and metals has raised concerns about a potential resurgence in commodity-driven inflation. Economists predict that Wednesday's inflation data will show a slight increase in annualized CPI, leading traders to favor only two Fed rate cuts this year. US 10-year yields are also nearing the psychologically significant 4.5% level. Stocks have remained within a narrow range over the past month due to uncertainty surrounding the timing and number of rate cuts. However, both US and European benchmarks are near record levels, with investors anticipating further gains, particularly in the value sectors. In individual stock movements, BioMerieux saw a rally in Paris after its first-quarter sales increased by 6.6%, while Atos SE, a French IT company, experienced a slump as it seeks funding to support its business through 2025. [Extracted from the article]

European stocks declined on Tuesday due to uncertainty surrounding the number of interest rate cuts the Federal Reserve may implement this year and caution ahead of US inflation data. The Stoxx 600 index was down 0.5% in London, with insurance, construction, and industrial sectors experiencing the largest declines. Mining stocks, however, received a boost as iron ore saw its largest two-day rally in over two years, and copper traded near a 15-month high. The rally in oil and metals has raised concerns about a commodity-driven inflation resurgence. Economists predict that Wednesday's inflation data will show a slight increase in annualized CPI, leading traders to favor only two Fed rate cuts this year. US 10-year yields were close to the psychologically significant 4.5% level and near their highest point since November. Stocks have remained within a narrow range over the past month due to uncertainty about the timing and number of rate cuts. Despite this, US and European benchmarks are near record levels, with investors anticipating further gains, particularly in the value sectors. In individual stock movements, BioMerieux saw a rally in Paris after its first-quarter sales increased by 6.6%, while Atos SE, a French IT company, experienced a slump as it sought funding to support its business through 2025. [Extracted from the article]

European stocks remained steady on Tuesday as investors expressed doubts about the number of interest rate cuts the Federal Reserve would implement this year and awaited US inflation data. The Stoxx 600 index was relatively unchanged, with real estate, construction, and industrial sectors experiencing the most decline. Mining stocks received a boost as iron ore saw its largest two-day rally in over two years due to increased steel demand in China. However, the rally in oil and metals has raised concerns about a potential resurgence of commodity-driven inflation. [Extracted from the article]

European stocks declined as traders became uncertain about the number of interest rate cuts the Federal Reserve would implement this year and awaited the US inflation data. The Stoxx 600 index fell by 0.2%, with the real estate and retail sectors experiencing the largest drops. Mining stocks, however, received a boost as iron ore prices rose, and copper traded near a 15-month high. The rally in oil and metals has raised concerns about a potential resurgence in commodity-driven inflation. Economists predict a slight increase in the annualized CPI, and traders now expect only two rate cuts from the Fed this year. US 10-year yields are close to the psychologically significant 4.5% level and near their highest point since November. [Extracted from the article]

European stocks declined as traders became uncertain about the number of interest rate cuts the Federal Reserve would implement this year and awaited the US inflation data. The Stoxx 600 index fell 0.2%, with real estate and travel & leisure stocks leading the decline. However, mining stocks received a boost as iron ore prices rose, indicating increased steel demand in China. Investors are closely watching the US inflation data, with expectations now leaning towards only two interest rate cuts by the Federal Reserve this year. [Extracted from the article]

According to Goldman Sachs Group Inc.'s tactical specialist Scott Rubner, it is impossible to predict the peak of the current US stock market rally. Retail traders have been drawn into the market as the economy experiences a Goldilocks scenario, leading analysts to raise their year-end targets. While the market may be showing signs of fatigue, there is no catalyst for a potential selloff. The rally has been driven by Big Tech stocks, particularly Nvidia Corp., which Rubner considers the most important stock. Despite some fluctuations, there is little indication of a significant pullback. [Extracted from the article]

Hedge funds recently sold off their tech stocks at the fastest pace in seven months, according to data from Goldman Sachs. This comes after a six-week buying streak and suggests that traders are taking profits and investing in less volatile stocks like consumer staples. While there is confidence in tech stocks, concerns have been raised about the sustainability of momentum. The focus will now shift to economic data and the timing of interest rate cuts. [Extracted from the article]

Nvidia's upcoming earnings report is being closely watched by the market, with Goldman Sachs calling it "the most important stock on planet earth." The stock's performance could have a significant impact on financial markets due to its influential weighting on indexes and the large number of investors holding long positions in the stock. Nvidia has been responsible for one-third of the Nasdaq 100 Index's gains this year. Traders are preparing for increased volatility, as the stock has tripled in value over the past year. [Extracted from the article]

Budget airline EasyJet is poised to rejoin the UK's FTSE 100 index, nearly four years after it was removed due to the Covid-19 pandemic. The company is expected to replace Endeavour Mining, which will be demoted to the FTSE 250. EasyJet's stock has surged over 50% since October, benefiting from increased demand for its package holiday offerings and a rebound in the market. However, the stock is still below its pre-pandemic price due to competition from discount rivals and industrial action. The final decision will be announced on February 28th based on market capitalizations. [Extracted from the article]

(Bloomberg) -- Budget airline EasyJet Plc is on track to reclaim its place in the UK's blue-chip equity index, almost four years after it dropped out of the benchmark during the Covid-19 outbreak.Endeavour Mining Plc is set for an exit from FTSE 100, according to indicative results announced by index compiler FTSE Russell on Tuesday. Endeavour shares have fallen 28% in the past year.The final FTSE review will be based on market capitalizations as of Feb. 27, and will be announced Feb. 28.©2024 Bloomberg L.P.By Thyagaraju AdinarayanReported by Author [Extracted from the article]

The electric vehicle (EV) sector is facing a bleak future as the stock market debuts of EV makers no longer result in soaring valuations. Renault and Volkswagen have both encountered setbacks in their efforts to attract investors for their EV divisions. Analysts are reducing their earnings forecasts for the EV sector as sales growth slows. EV stocks have plummeted from their peaks, with companies like Lucid Group and XPeng losing over 80% of their value. Higher borrowing costs, a sluggish economy, and the end of EV incentives have contributed to the sector's decline. EV stocks are still trading at a high premium compared to traditional carmakers, suggesting that further correction may be necessary. Despite a slump in demand, Tesla's shares still trade at a high multiple of forward earnings. EV makers are trading at over a 100% premium to the broader global autos index, even though overall car sales growth in Europe is expected to slow this year. Analysts predict that there will be more challenges ahead for the EV sector, including potential impairments, delayed capacity expansion, and regulatory struggles. [Extracted from the article]

The electric vehicle (EV) sector is facing a bleak future as EV stocks plummet and earnings forecasts are slashed. Renault and Volkswagen have both encountered setbacks in their plans to go public with their EV divisions. EV stocks have fallen from their peak valuations, with companies like Lucid Group and XPeng losing over 80% of their value. Higher borrowing costs, a sluggish economy, and the end of EV incentives have contributed to the sector's decline. Despite the downturn, EV stocks still trade at a high premium compared to traditional carmakers, suggesting further correction may be necessary. [Extracted from the article]

The electric vehicle (EV) sector is facing a bleak future as EV stocks have plummeted in value. Renault and Volkswagen have both encountered difficulties in their EV ventures, with Renault scrapping an IPO for its EV and software arm Ampere due to valuation concerns, and Volkswagen delaying efforts to seek outside investors for its battery unit. Analysts have slashed earnings forecasts for the EV sector as sales growth slows. EV stocks have experienced significant losses, with companies like Lucid Group and XPeng losing over 80% of their value. The EV sector continues to trade at a high premium compared to traditional carmakers, suggesting further correction may be necessary. Despite the challenges, there may still be announcements of joint ventures, impairments, and regulatory negotiations in the EV industry. [Extracted from the article]

Global equities trading near all-time highs may face a challenging period as slowing economic growth impacts earnings estimates, according to UBS Group AG strategists. The strategists anticipate disappointing earnings due to a mismatch between forecasts for significant revenue gains and stalling GDP growth. Rising wages and higher interest rates also threaten profit margins. UBS recommends defensive sectors such as consumer staples, pharma, and software in this environment. JPMorgan Chase & Co. strategists share a cautious outlook on earnings, particularly in the euro region. UBS also expects factors that supported stocks in 2023 to fade this year, including reduced excess savings in the US and a pull-back in fiscal support measures. Garthwaite, a former global equity strategist at Credit Suisse, favors emerging market stocks for their relatively better economic prospects and is most bearish on Europe. The UK is his preferred European market for its "abnormally cheap defensive market." [Extracted from the article]

Global equities trading near all-time highs may face a challenging period as slowing economic growth impacts earnings estimates, according to UBS Group AG strategists. The strategists anticipate disappointing earnings and potential threats to profit margins due to rising wages and higher interest rates. They recommend defensive sectors such as consumer staples, pharma, and software in this environment. JPMorgan Chase & Co. strategists also express caution on earnings, particularly in the euro region. UBS predicts that factors that supported stocks in 2023, such as excess savings in the US and fiscal support measures, will fade this year. [Extracted from the article]

Wall Street is expressing concern over high levels of investor optimism, with experts at JPMorgan Chase & Co. and Morgan Stanley warning of potential risks. The recent rally in November has led to cautious trading, as investors question whether the Federal Reserve will cut interest rates as aggressively as expected. Some investors believe that valuations are no longer attractive and that equities are expensive. However, there are differing opinions, with some strategists suggesting that there is still room for stocks to rise. [Extracted from the article]

Investor optimism on Wall Street is causing concern among equity specialists at JPMorgan Chase & Co. and Morgan Stanley. The recent rally in November has led to cautious trading, with questions arising about whether the Federal Reserve will cut rates as aggressively as expected. Some investors believe that valuations are no longer attractive and that equities are expensive. However, there are differing opinions, with some strategists believing that there is still room for stocks to rise. Overall, there is a sense of uncertainty and differing perspectives among investors. [Extracted from the article]

According to Goldman Sachs Group Inc., the recent rally in stocks is likely to experience a pullback as the factors that fueled the surge are diminishing. The November rally was driven by changes in expectations around Federal Reserve policy moves, leading to increased investments in equities by commodity trading advisers. However, Goldman's Scott Rubner warns that these propellants have "run out of gas," and it may be wise to add portfolio hedges with the S&P 500 Index near 4,600 points. Despite the absence of bearish sentiment, Rubner advises caution. [Extracted from the article]

Yields got another boost on Friday after bigger-than-expected surge in US payrolls that bolster the case for more Fed rate hikes. Deals Drought Higher rates have negatively impacted banks' willingness to back large mergers and acquisitions over the last 18 months, with lenders fearful of being left with debt on their books that they can't sell on to investors. [Extracted from the article]

(Bloomberg) -- A system "incident" halted trading in hundreds of shares on the London Stock Exchange for the final 80 minutes of Thursday's session. Stocks on the FTSE 100 Index, FTSE 250 and international orderbook weren't affected, London Stock Exchange Group Plc said on its website. [Extracted from the article]

Yields got another boost on Friday after bigger-than-expected surge in US payrolls that bolster the case for more Fed rate hikes. Deals Drought Higher rates have negatively impacted banks' willingness to back large mergers and acquisitions over the last 18 months, with lenders fearful of being left with debt on their books that they can't sell on to investors. [Extracted from the article]

Deals Drought Higher rates have negatively impacted banks' willingness to back large mergers and acquisitions over the last 18 months, with lenders fearful of being left with debt on their books that they can't sell on to investors. (Bloomberg) -- Not so long ago, families, businesses and governments were effectively living in a world of free money. [Extracted from the article]

Read more: Levis, Target Brace for the Return of Student Loan Repayments Konik warned that China is another headwind as sales trends in the region are likely to be choppy. (Bloomberg) -- Nike Inc. faces a risk from slower spending by US consumers saddled with student loan debt, in addition to ongoing headwinds in China, according to Jefferies analysts. [Extracted from the article]

(Bloomberg) -- Nike Inc. faces a risk from slower spending by US students, in addition to ongoing Chinese headwinds, according to Jefferies analysts. Nike shares fall as much as 1.2% on Monday, sliding for a seventh straight session. [Extracted from the article]

Pointing to a recent in-house survey, analyst Randal Konik noted that nearly 90% of the 600 respondents with outstanding student loan debt were somewhat worried about being able to meet all of their monthly expenses. (Bloomberg) -- Nike Inc. faces a risk from slower spending by US students, in addition to ongoing Chinese headwinds, according to Jefferies analysts. [Extracted from the article]

Banks shares are still close to recouping the losses they suffered in the summer when the government shocked markets with its tax proposal. (Bloomberg) -- The Italian government modified a controversial windfall tax on banks, giving lenders an option to avoid paying if they set aside additional capital reserves. [Extracted from the article]

(Bloomberg) -- The recent pullback in US stocks has further to go, according to Wall Street's most bullish strategist. Meanwhile, Goldman Sachs Gropup Inc. strategist David Kostin is more positive on the prospects of a soft landing of the US economy and sees the S&P 500 index climbing to 4,700 in the next 12 months. [Extracted from the article]

"We've seen the squeeze", Rupert, the leader and controlling shareholder of Richemont, told shareholders at the company's annual meeting in Geneva on Wednesday. (Bloomberg) -- Luxury-goods stocks slumped in Europe, wiping out more than $25 billion in market value, after Richemont Chairman Johann Rupert said inflation is starting to dent demand across the region. [Extracted from the article]

(Bloomberg) -- Luxury-goods stocks slumped in Europe after Richemont Chairman Johann Rupert said inflation is starting to dent demand across the region. "We've seen the squeeze", Rupert, the leader and controlling shareholder of Richemont, told shareholders at the company's annual meeting in Geneva on Wednesday. [Extracted from the article]

After the IPO, SoftBank will still control about 90% of Arm's shares. (Bloomberg) -- Arm Holdings Ltd.'s initial public offering is already falling short of lofty expectations, despite riding the AI wave and listing amid the tech giants in New York. [Extracted from the article]

Steady Exodus The Cambridge-based chip designer's decision to ditch London for New York as a listing venue earlier this year follows a steady exodus from Europe, particularly the UK. (Bloomberg) -- Arm Holdings Ltd.'s initial public offering, planning to raise $4.87 billion at the top of its range, shows the premium valuation the British chip designer was seeking from a New York listing may not fully materialize. [Extracted from the article]

China lifted a group travel ban to countries including the US, UK, Australia, South Korea and Japan. (Bloomberg) -- LVMH led luxury stocks higher in Europe on Thursday as China lifted a ban on group tours, boosting the case for travelers spending money on high-end watches and fashion. [Extracted from the article]

(Bloomberg) -- WE Soda canceled its London initial public offering just two weeks after unveiling its plan for a listing, denting prospects for a recovery in the city's struggling IPO market. "The reality is that investors, particularly in the UK, remain extremely cautious about the IPO market", Chief Executive Officer Alasdair Warren said in a statement. [Extracted from the article]

(Bloomberg) -- WE Soda canceled its London initial public offering just two weeks after unveiling its plan for a listing, dashing the city's hopes to recover from the ongoing drought. "The reality is that investors, particularly in the UK, remain extremely cautious about the IPO market", WE Soda Chief Executive Officer Alasdair Warren said in a statement. [Extracted from the article]

The cancellation dents hopes for a recovery in London's flagging IPO market. (Bloomberg) -- WE Soda, the world's largest producer of natural soda ash, canceled its planned London initial public offering citing "extreme investor caution." "The reality is that investors, particularly in the UK, remain extremely cautious about the IPO market and this extreme investor caution in London meant that we were unable to arrive at a valuation that we believe reflects our unique financial and operating characteristics", Chief Executive Officer Alasdair Warren said in a statement. [Extracted from the article]