Stock Market
Lufthansa reports 9% decline in third-quarter profit as core brand struggles
German airline group Lufthansa reported on Tuesday a year-on-year fall in its operating profit in the third quarter, as its flagship brand struggles with low yields, competition with international airlines and spiralling costs.
Japan stocks rally as yen tumbles after coalition drubbing
Japanese stocks rose on Monday as the yen careened to a three-month low after Prime Minister Shigeru Ishiba’s coalition lost its parliamentary majority in a drubbing in Sunday’s election, raising uncertainty over the path for policy and the economy.
China’s market rollercoaster claims another fund
Shanghai Power Asset Management Co has apologised to investors and shut its arbitrage strategy after heavy losses, the latest China hedge fund bruised by wild gyrations in the market since authorities vowed to support the economy and hit growth targets.
European stocks edge higher; PMIs and quarterly earnings in focus
Investors will study a raft of preliminary Purchasing Managers’ Index readings from the major eurozone countries during Thursday’s session, amid concerns about the region’s growth prospects.
European stocks stagnate; Deutsche Bank falls after returning to profit
The International Monetary Fund on Tuesday said the German economy, Europe’s biggest, would stagnate this year, cutting its forecast from 0.2% growth previously.
Hyundai Motor India falls 7.6% in debut after country’s biggest IPO
Hyundai Motor India shares fell as much as 7.6% in their market debut on Tuesday after a tepid response from retail investors to the country’s largest initial public offering on concerns the price was set too high and an auto industry slowdown.
U.K. stocks lower at close of trade; Investing.com United Kingdom 100 down 0.50%
Gold Futures for December delivery was up 0.28% or 7.70 to $2,737.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December rose 1.88% or 1.29 to hit $69.98 a barrel, while the December Brent oil contract rose 1.56% or 1.14 to trade at $74.20 a barrel.
Blackstone beats estimates, shares move higher
The world’s largest alternative asset manager posted adjusted earnings per share of $1.01, exceeding the consensus estimate of $0.98. Revenue came in at $3.66 billion, significantly above analysts’ projections of $2.68 billion.
European stocks: What to expect from Q3 earnings season
Morgan Stanley highlights that Tech Hardware, Telecom, and Food Retail are likely to outperform due to low accruals, which the analysts note is “a leading indicator of future earnings.”
Indonesia stocks higher at close of trade; IDX Composite Index up 0.68%
Crude oil for November delivery was down 4.25% or 3.14 to $70.69 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 4.14% or 3.21 to hit $74.25 a barrel, while the December Gold Futures contract rose 0.22% or 5.90 to trade at $2,671.50 a troy ounce.