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India's stock market saw record outflows of foreign capital, as economic momentum weakened prompting foreign investors to adopt a cautious stance.
Foreign investors' enthusiasm for the Indian stock market has cooled, with record levels of stock sell-offs, indicating that the country's post-epidemic economic boom is losing momentum. Global funds in October saw a net outflow of over 10 billion US dollars, pushing benchmark stock indexes into a technical correction. Citigroup stated that continued outflows of foreign capital may drag down the recent performance of the stock market. In recent years, due to rapid economic growth, soaring corporate profits, and business shifts, India has become a favored investment destination. However, due to the high stock valuations ranking among the highest globally, coupled with the slowing pace of economic and corporate profit growth, along with China's stock market in late September.
Natixis: Reduced supply of Eurozone government bonds will ease yield spread pressure.
The interest rate strategist at the Industrial Bank of France stated in a report that the issuance of government bonds in the Eurozone will slow down in the coming weeks, and will not exert pressure on yield differentials. They mentioned that as the financing of sovereign nations is almost coming to an end, bond supply will gradually decrease by the end of the year. Therefore, supply is unlikely to exert pressure on yield differentials among countries.
European stock market recorded the largest monthly decline in a year, with companies' financial reports showing a gloomy performance.
European stock markets recorded the largest monthly decline in a year, with a series of disappointing corporate financial reports from BNP Paribas and Total. The mid-cap index in the United Kingdom fell, leading to a major bond sell-off due to concerns about the government's budget. The STOXX Europe 600 index closed down 1.2%, marking the third consecutive day of decline. Retail stocks and technology stocks saw the biggest drops, with all sectors declining across the board. BNP Paribas in France has become one of the biggest drag on the benchmark index. Meanwhile, Industrial Bank of France exceeded expectations in performance, leading to an 11% surge in stock price. The FTSE 250 index in the United Kingdom fell by 1.5% as bond market volatility continued amid the Labour government's plans for extensive borrowing and fiscal measures over the next few years.
Industrial Bank of France's performance exceeded expectations, driven by the recovery of securities trading and retail banking business in France.
Industrial Bank of France's third-quarter performance generally outperformed analysts' expectations, benefiting from the growth of trading income and the improvement of the retail banking business in France. Industrial Bank of France announced on Thursday that stock trading income increased by 10% year-on-year, while fixed income trading income increased by about 6%. Both exceeded analysts' expectations. Domestic retail business sector revenue increased by 19%, with group profits more than tripling year-on-year. This financial report may boost CEO Slawomir Krupa, who has been striving for over a year to win investors' favor by focusing on a strategy centered on capital strength. He is based in Paris at Industrial Bank of France.
Industrial Bank's Q3 Profit Drops 10%; Shares Down 3%
Industrial Bank: Industrial Bank Report for the Third Quarter of 2024
RHB Raises Target Price for Gamuda Amid Upbeat Prospects on Data Centre MarketNo Data
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