Latest Features & market analysis news
Shares of American Express (NYSE: AXP) gained 3% on Friday to partially offset losses from earlier in the week. The People’s Bank of China (PBOC) finally announced today it has approved a network clearing licence for the American Express joint venture. Fundamental analysis: American Express enters the biggest card market in the world The PBOC issued a statement today to confirm that American Express’ joint venture in China – Express (...
Bitcoin price failed to move above $10,000 again, which caused the price action to rotate lower and return below $9,500. One of the key reasons behind the drop in prices is the correlation with the stock market as U.S. equities recorded one of the worst days since March. Fundamental analysis: Markets turn lower as the number of infections rises Global equity markets turned sharply lower on Thursday as the number of infections has continued to ris...
Shares of International Consolidated Airlines Group (LSE: IAG), the parent company of British Airways (BA), plunged 9% today as the row between the BA and its unions has deepened over the past few days. Fundamental analysis: Unions to approach the EU The Unite union, which represents BA cabin crew, says it has contacted the European Union to register its resistance to IAG’s acquisition of Air Europa. In November last year, Iberia, another s...
Ethereum (ETH/USD) has been moving higher in the past few days as the buyers are attempting to break $250 resistance. In the meantime, an Ethereum “whale” paid $2.6 million in transaction fees when attempting to send $130 worth of ETH. Fundamental analysis: Largest transaction fee ever recorded In an attempt to send $130 of ETH, a mysterious Ethereum “whale” paid $2.6 million in transaction fees, which amounts to a fee of two million percent. Thi...
Shares of Grubhub (NYSE: GRUB) are trading nearly 10% higher in premarket after the food delivery company accepted a $7.3 billion all-stock offer from European food-ordering firm Just Eat Takeaway.com NV (AMS: TKWY). Fundamental analysis: Just Eat takes advantage of Uber’s inability to close the deal Just Eat Takeaway.com NV, the Dutch food-ordering company, said it agreed to a deal to buy the U.S. food delivery company Grubhub in the all-stock $...
Shares of ProSiebenSat.1 Media (ETR: PSM) have plunged more than 6% today after the CEO of the Germany-based broadcasting company rejected calls for European TV industry mergers, which may ultimately lead to a hostile takeover attempt from the Italian Mediaset TV corporation. Fundamental analysis: “Few synergies” in mergers – CEO Rainer Beaujean, the newly-hired CEO of ProSiebenSat.1 Media, rejected calls for European TV industry mergers.&...
Shares of Chewy (NYSE: CHWY) hit fresh record highs yesterday after the company reported higher-than-expected quarterly earnings. The buyers are now likely to target a trip towards $54, where the next resistance is located. Fundamental analysis: Chewy beats estimates Chewy, an online pet product retailer, reported a loss of $0.15 per share compared to expectations of $0.17 per share for the quarter ending February 02. Revenue matched estimates, c...
Shares of Carnival Corporation (NYSE: CCL) are trading nearly 7% down today as the buyers are unable to hold onto huge gains recorded yesterday. Separately, the stock market analyst believes that cruises are “overbought and overvalued”. Fundamental analysis: Cruises will continue to struggle – analyst Shares of cruise and travel companies led the pack yesterday as investors were betting on the continued reopening of countries and economies....
Shares of Tesla (NASDAQ: TSLA) printed a record closing price of $949.92 yesterday after sales in China increased by 205% in May. The buyers are now likely to target a trip above the psychologically-important $1,000 mark. Fundamental analysis: Car market recovers Tesla said it sold 11,095 Shanghai-made Model 3 vehicles in China in May. This is an increase od 205% compared to 3,635 units sold in April. In March, Tesla sold 10,160 Model 3 uni...
Shares of Telefonica (EBR: TFA) hit fresh multi-month highs yesterday as Telefonica Deutschland agreed to sell around 10,100 phone masts to Telxius for around $1.7 billion. Fundamental analysis: High interest in phone masts Telefonica Deutschland, the daughter company of the Spanish telecom giant Telefonica, reached an agreement to sell 10,1000 phone masts, a structure with devices for sending and receiving mobile phone signals, to Telxius...
FTSE 100 closed 0.18% into the red today, as the buyers are consolidating last week’s gains around the 6,500 mark. The buyers have now recovered around 60% of the corona-related losses despite the Bank of England’s (BoE) chief economist Andy Haldane issuing a warning that the UK is facing record inactivity in the labour market. Fundamental analysis: 8 million people underemployed The United Kingdom is facing historic levels of inactivity i...
USD/JPY finally broke out last week to trade above $108.50 in a comfortable fashion. The buyers were able to capitalize on the break and force the price action to trade at $109.85, the highest since March. Separately, the Japanese economy is officially in recession. Fundamental analysis: The output has plummeted The government of Japan said that the economy contracted 2.2% for the first quarter, which is a much better reading than a contrac...
Shares of Ryanair (LON:RYA) have opened the new trading week higher after gaining nearly 15% last week. In the meantime, Ryanair’s boss O’Leary said his company will not cancel flights from and to the UK, calling the new quarantine rules “rubbish”. Fundamental analysis: Ryanair considers legal action, refuses to cancel UK flights Ryanair will not cancel flights from and to the UK, its boss Michael O’Leary said. The UK government introduced new r...
The DAX Index has recorded one of the best weeks in recent memory after it gained nearly 11% last week. In the meantime, an ECB senior official has refused to rule out potential buying of shares instead of corporate and government bonds in the future. Fundamental analysis: “Never say never” says ECB On Thursday, the ECB announced a bigger-than-expected expansion of its stimulus package, which helped the DAX Index hit the multi-month highs.&...
Last week, Bloomberg broke the news that Western Union made an offer to acquire money transfer company MoneyGram. No agreement has been reached yet and Western Union could still change their mind, accordingly. It’s been a hard couple of months for MoneyGram due to the Covid-19 crisis. The company has a debt of $878 million and closed a number of work locations during the pandemic shutdown. Soon after Western Union made the acquisition offer, shar...
It appears that option market traders are unwinding wagers for an extended upward move in Bitcoin, a key metric suggests. The buyers have consolidated gains above 9,500 as they prepare for another attempt to clear 10,300. Fundamental analysis: Bullishness in the options market The crypto research company Skew reported that the put-call ratio, an indicator commonly used in the options market, plunged to 0.43 on June 4, hitting the lowest mark sin...
Shares of Ericsson (STO: ERIC) closed the week 4.5% higher after the Swedish telecom-equipment maker managed to secure four lucrative 5G contracts in Canada and Germany. The latest surge pushed the price action to hit a new 5-year high above the 100.00 handle. Fundamental analysis: Ericsson raising its game against Huawei Ericsson has made further gains this week after it was revealed that it secured a contract with Bell Canada. Ericsson had rece...
Shares of Intesa Sanpaolo (MIL: ISP) recorded the best week since 2011 by gaining more than 14%. The price action is now approaching a critical resistance around 1.80, which served as a multi-year support in the past. Fundamental analysis: ECB approves UBI takeover Intesa Sanpaolo received positive news from the European Central Bank (ECB) in relation to its takeover of UBI Banca (MIL: UBI), Reuters reports. The bank now has to get approval...
Shares of Slack (NYSE: WORK) collapsed around 15% on Friday after the tech giant failed to capitalize on the work-from-home regime during the time of national lockdowns. Fundamental analysis: Slack beats estimates, but still disappoints Slack, a team messaging app, said it lost $0.02 per share in the quarter, compared to a loss of $0.06 per share expected from the analysts. Revenue also came in higher than expected, at $201.7 million vs $18...
Australia and New Zealand Banking Group, also known as ANZ, has remained bearish on NZD/USD despite a recent rally in the pair that saw the price gain more than 1,000 pips since March. Fundamental analysis: Kiwi to suffer from the worsening risk sentiment and dovish RBNZ – ANZ ANZ bank has remained bearish on NZD/USD, despite the pair making significant gains in the recent weeks. The worsening risk sentiment and dovishness from the Re...
Shares of Amazon (NASDAQ: AMZN) have consolidated recent gains near the record highs as the e-commerce giant considers buying at least a $2 billion stake in the Indian telecom Bharti Airtel (NSE: BHARTIARTL). Fundamental analysis: Amazon to follow Facebook in India’s telecom sector E-commerce giant Amazon is reportedly in talks to secure at least a 5% stake in Bharti Airtel, the third-largest telecom operator in India, according to Reuters. Amazo...
Shares of Tiffany & Co (NYSE: TIF) dropped more than 10% after LVMH Moët Hennessy – Louis Vuitton SE (OTCMKTS: LVMHF) said it is no longer interested in the $16.2 billion offer to buy Tiffany on the market. Fundamental analysis: LVMH pulls out of the deal LVMH, the owner of brands such as Louis Vuitton, Céline, Givenchy and Marc Jacobs, has pulled out of the deal to buy the U.S. jewelry chain Tiffany & Co, the company said. “The Board of...
Shares of Mattel (NASDAQ: MAT) have jumped 6% on Wednesday after Jeffries upgraded the toy maker’s stock from “hold” to “buy”. Today’s surge has pushed the stock price above $10 for the first time since March. Fundamental analysis: Mattel stock to outperform in the second half of the year Mattel stock price has been enjoying a great day after Jeffries upgraded the stock to “buy”. “Following a conversation with mgmt, channel checks and our a...
Gold prices are trading more than 1% lower on the day as the price action approaches the key short-term support around the $1700 mark. Two weeks ago, the price of yellow metal reached its highest levels since 2012. Fundamental analysis: Profit taking pushes prices lower Gold prices have lost around 2% in the past two days, most likely on some profit-taking activities from the early investors. Prior to this pullback, gold prices hit a 7-year high...
DAX Index has finally managed to get above 12000 as investors continue to push the index higher. After it gained 6.7% in May, DAX has continued to trade in the same direction in the first week of June on the expected €1.85 trillion recovery package unveiled by the EU last week. Fundamental analysis: New massive stimulus for economies The European Union’s Commission presented a €1.85 trillion recovery package last week, which seeks to boost...