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London's Historic Art Scene Is Getting a Tech Upgrade
Overnight news: US stocks closed higher, Dow hit a new high, escalation of Russia-Ukraine conflict boosted oil prices, Tesla is preparing for the Cybertruck to enter the China market
For more global financial news, please visit the 7×24 hours real-time financial news market close: The Dow Jones closed over 400 points higher, setting a new historical high. All three major indices recorded gains this week. On November 22, the top 20 transactions in the US stock market: It is reported that Tesla is preparing for the Cybertruck's entry into the china market. On Friday, china concept stocks showed mixed results, with WeRide rising 9.2% and pdd holdings falling 3.9%. The crude oil in the usa rose 6.5% this week, while the escalation of the Russia-Ukraine conflict pushed oil prices higher. Spot gold rose 5.7% in five days, regaining the $2,700 mark. European stocks all closed higher, with Germany's DAX 30 index up 0.84%. Macro.
Overview of csi commodity equity index: Oil prices rise, geopolitical tensions intensify, gold prices increase, copper prices have fallen for eight consecutive weeks.
Crude oil prices rose due to escalating geopolitical tensions from Russia to Iran, while stock market strength increased the attractiveness of risk assets. Gold prices also received a boost in safe-haven demand, aiming to achieve the largest weekly gain since March last year. London copper is expected to set a record for the longest consecutive weekly decline since 2019, as the rising US dollar creates pressure on commodities priced in dollars. Crude oil: WTI rose more than 6% this week, with geopolitical tensions between Iran and Russia intensifying, leading to the increase in crude oil prices due to escalating geopolitical tensions from Russia to Iran, while stock market strength increased the attractiveness of risk assets. WTI rose by over 1%.
ubs group: There is a huge potential risk of a strike at volkswagen.
If Volkswagen autoworkers go on strike next month, some automotive suppliers will face even tougher conditions. UBS Group analysts stated in a research report that for investors in North American automotive suppliers, the risks of a Volkswagen strike are mostly unknown: suppliers with global business operations may face significant potential shutdown risks. They pointed out that companies such as Gentex, Mobileye Global, and Magna receive over 10% of their revenue from Volkswagen. Volkswagen and IG Metall union failed to reach an agreement in the third round of negotiations, and according to previous reports, the union may go on strike starting in December.
Apple's IPhones Sales Aren't Getting an AI Boost. How and When That Could Change.
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Boosted by the safe-haven demand, the gold price is moving towards the largest weekly gain in 13 months.
Gold prices are heading toward the largest weekly gain since October of last year, driven by the escalating Russia-Ukraine conflict that has increased gold's appeal as a safe haven. Traders are also assessing the prospect of further easing by the Federal Reserve. At 14:37 Singapore time, gold prices rose by 0.7% to $2,687.71 per ounce. Ukraine previously reported that Russia launched a 'new type' of ballistic missile at the city of Dnipro, serving as a warning signal to Kyiv's Western supporters. Heightened geopolitical tensions often prompt investors to flock to safe haven assets like gold. Traders are also weighing comments from Chicago Federal Reserve President Austan Goolsbee, who expects interest rates.
Press Release: UBS Declares Quarterly Coupon Payments on Exchange Traded Note: AMUB
Average Rate on a 30-year Mortgage in the US Rises to Highest Level Since July
Financial Advisor Jason L. Zachter Joins UBS in New York City
Full text | Baidu Q3 earnings conference record: expected to release new version Wenzhen early next year
Baidu (Nasdaq: BIDU; HKEX: 9888) released the financial report for the third quarter of 2024 ending on September 30th today: total revenue was 33.6 billion yuan, a 3% year-on-year decrease. The net income attributable to Baidu was 7.6 billion yuan. Using non-US GAAP, the net income attributable to Baidu was 5.9 billion yuan. After the financial report was released, Baidu's Chairman and CEO, Robin Li, President of the Mobile Ecosystem Business Group, Lu Rong, President of the Intelligent Cloud Business Group, Shen Dou, and Acting CFO He Junjie and other executives attended the subsequent earnings conference call to explain the key points of the financial report and answer analysts' questions. The following is the analysis and Q&A section.
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Full text | Kuaishou Q3 earnings conference transcript: "Keling AI" single-month revenue exceeded 10 million yuan. During the november 11 shopping festival-related, Kuaishou e-commerce national subsidy users redeemed over 1.46 million coupons.
Kuaishou (HKEX: 1024) today released its third quarter financial report for 2024, ending September 30: revenue was 31.1 billion yuan, a year-on-year increase of 11.4%; net income was 3.3 billion yuan, whereas the net income for the same period last year was 2.2 billion yuan. Under non-International Financial Reporting Standards, the adjusted net income was 3.948 billion yuan, compared to 3.173 billion yuan for the same period last year. After the financial report was released, Kuaishou CEO Cheng Yixiao and CFO Jin Bing attended the subsequent earnings call to interpret the key points of the report and answer questions from analysts. The following is the main content of the Q&A session during this earnings call:
UBS Group joins the Goldman Sachs queue, predicting that the upward trend in gold prices is not over yet.
ubs group expects that with the increase in central bank holdings, gold will rise to $2900 per ounce by the end of next year, in line with goldman sachs' view that gold will continue to rise. ubs group analysts Levi Spry, Lachlan Shaw, and others stated in the report that due to the strength of the US dollar, as well as concerns in the gold market that additional US fiscal stimulus measures may lead to an increase in interest rates, the gold price may go through a period of consolidation before starting to rise again. They stated that the gold price will further increase slightly, rising to $2950 per ounce by the end of 2026. "The US Republican Party sweeping both houses, diverse configurations of strong interest"
European Investment Banks With U.S. Exposure Best Placed to Gain From Trump Win -- Market Talk
UBS Group: Assigns a "buy" rating to Yue Yuen Ind with a target price raised to HKD 22.65.
UBS Group issued a research report stating a 'buy' rating for Yue Yuen Ind (00551), raising its earnings per share forecast for the fiscal years 2024 to 2026 by 7% to 8%. They remain optimistic about the recovery of OEM orders and efficiency improvements, with an expected dividend yield of about 7%. The target price has been raised from 20.9 Hong Kong dollars to 22.65 Hong Kong dollars. Yue Yuen Ind's revenue in the first nine months of this year increased by 1% to 6.075 billion US dollars; its net income attributable to shareholders rose by 141% to 0.332 billion US dollars year-on-year, consistent with the previously announced expected net income increase of 140% to 145%. This indicates Yue Yuen's performance in the third quarter.
ubs group: maintains zhongsheng hldg "sell" rating, target price raised to 9.4 HKD.
UBS Group released a research report stating it maintains the "sell" rating for Zhongsheng HLDG (00881). After the related global strategy was announced, the stock price increased by about 40% or an additional 12 billion yuan in market cap. It believes that the market has given an overly high valuation to AITO stores, raising the target price for Zhongsheng from 8.2 HKD to 9.4 HKD. The report stated that Zhongsheng signed a strategic cooperation agreement with Chongqing Sokon Industry Group Stock (601127.SH) to operate Huawei AITO specialized stores under an authorized distribution model, with plans to begin operations in January next year. Management guidance indicated a commission rate of 4.5% for the Aito vehicles, and the company will also provide related after-sales, auto finance, and insurance services.