Asian shares advanced Monday after a surprisingly strong U.S. jobs report raised optimism about the economy, sparking a rally on Wall Street.U.S. futures slipped and oil prices also fell.Japan’s Nikkei 225 index gained 1.9% to 39,354.63 after the yen sank against the U.S. dollar. The Japanese currency has bounced on speculation over the central bank’s plans for interest rates since Prime Minister Shigeru Ishiba took office last week.In a policy speech on Friday, Ishiba said he wants to see salary increases that outpace inflation and that he will promote investment to create “a virtuous cycle of growth and distribution.” He…
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By Vidya Ranganathan SINGAPORE (Reuters) -Japan’s yen fell to its lowest in nearly two months and other major currencies too were grappling with losses early on Monday as the dollar extended a rally sparked by Friday’s strong U.S. jobs data and an escalation in the Middle East conflict. The yen fell marginally to hit 149.10 per dollar, its weakest level since Aug. 16, before paring losses to trade around 148.40. That came on top of a more than 4% decline last week, its biggest weekly percentage decline since early 2009. The dollar’s gains followed a U.S. jobs report that showed…
Image source: Getty Images FTSE 250 shares are throwing up some big dividends at the moment. Looking at current dividend forecasts, some of the yields on offer are incredible. Take specialist mortgage lender OSB Group (LSE: OSB), for example. Right now, City analysts expect the company to pay out 31.8p per share in dividends for 2024. Given that OSB’s share price is 392p today, the yield on offer is a magnificent 8.3%. Remarkably, dividend coverage (the ratio of earnings per share to dividends per share) is high at 2.6. A ratio over two is generally a sign that a dividend…
A look at the day ahead in European and global markets from Kevin Buckland What a difference a payrolls report makes. From worries about a U.S. economic “hard landing”, the debate has shifted to the potential for a so-called “no landing”, where the labour market continues to burn hot even as inflation cools. The story is so compelling that it completely absorbed the attention of traders and investors, even as Israeli bombs fell in Gaza and Lebanon, with Monday marking one year since the Hammas attack that triggered war. Asian stocks picked up where Wall Street had left off, and…
By Manuel Ausloos REIM, Israel (Reuters) – Israelis on Monday marked the first anniversary of the devastating Hamas attack that triggered a war which has sparked protest worldwide and risks igniting a far wider conflict in the Middle East. Ceremonies and protests in Jerusalem and Israel’s south were scheduled to begin around 06:29 a.m., the hour when Hamas-led militants launched rockets into Israel at the start of the Oct. 7 attack last year. They killed some 1,200 people and took about 250 hostages to Gaza, according to Israeli figures. Security forces were on high alert across the country on Monday,…
(Bloomberg) — Goldman Sachs Group Inc. upgraded its call on Chinese stocks to overweight, as it joined a camp of optimists that are touting the positive impact of Beijing’s stimulus blitz.Most Read from BloombergGauges tracking the nation’s equities may rise another 15%-20% if authorities deliver on policy measures, strategists including Tim Moe wrote in a note dated Oct. 5. Valuations are still below the historical average, earnings may improve and global investors’ positioning remains light, they added.The recent stimulus announcements “have led the market to believe that policy makers have become more concerned about taking sufficient action to curtail left-tail…
(Reuters) – Viktor Bout, the Russian arms dealer who was jailed in the United States and then swapped two years ago for the U.S. basketball star Brittney Griner, is back in international arms trade, the Wall Street Journal reported on Sunday. Citing an unnamed European security source and other anonymous sources familiar with the matter, the WSJ wrote that Bout, dubbed “the merchant of death” is trying to broker the sale of small arms to Yemen’s Iran-backed Houthi militants. “When Houthi emissaries went to Moscow in August to negotiate the purchase of $10 million worth of automatic weapons, they encountered…
Perth, Oct. 07, 2024 (GLOBE NEWSWIRE) — QUARTERLY REPORT INVESTOR WEBINAR / CALL Perth, Western Australia/October 7, 2024/ Perseus Mining Limited (ASX/TSX: PRU) is hosting an investor webinar and conference call to discuss its September 2024 Quarterly Results, which are anticipated for release around 8:30am AEDT on Wednesday 23 October 2024. CALL DETAILS Australia: Wednesday October 23, 2024Perth “ 6:00amSydney/Melbourne “ 9:00amCanada: Tuesday October 22, 2024Vancouver “ 3:00pm Toronto “ 6:00pmUK: Tuesday October 22, 2024London “ 11:00pm Register for the investor webinar at the link below: https://us02web.zoom.us/webinar/register/WN_BC8L_01JRJ6j8B70p8CLsQ After registering, you will receive a confirmation email containing information about joining the…
Finding suitable peers for financial analysis is a vexing task that requires careful consideration of firms’ underlying economics, accounting choices, and financial statement presentation. But without comparable financial statement information, peer benchmarking may yield less meaningful and even misleading insights that negatively impact earnings forecasts. In a recent study published in The Accounting Review, we developed a methodology to identify comparable firms for benchmarking and analyzed its implications for analyst outcomes and valuation with multiples. In this post, we will highlight the salient details, some of which may surprise you. There are different ways to define peer firms, such as…
People pass by the Pfizer headquarters building in New York City, Jan. 29, 2023.Kena Betancur | View Press | Corbis News | Getty ImagesActivist investor Starboard Value has a roughly $1 billion stake in pharmaceutical giant Pfizer and is seeking to mount a turnaround at the struggling company, according to people familiar with the matter.The activist’s exact plans could not be learned, but Starboard has approached former Pfizer CEO Ian Read and ex-finance chief Frank D’Amelio, both of whom have expressed interest in supporting Starboard’s turnaround, said the people.Starboard believes that Pfizer’s current leadership under CEO Albert Bourla has stepped…