What’s Next for Adani Group After Short Seller Hindenburg Report Wipes Out Over $50 Billion in Market Value

Indian stock markets were rattled last week by the attack on the Adani Group from US activist investor and short-seller Hindenburg Research’s report into the Indian conglomerate caused Adani’s shares to fall spectacularly. Five of the seven listed Adani Group companies ended the day after 16% to 20% lower, and the other two were halted at the maximum 5% permitted by India’s exchanges for their stocks. Indian stocks had been at all-time highs just over a month ago, the market’s … Continue reading “What’s Next for Adani Group After Short Seller Hindenburg Report Wipes Out Over $50 Billion in Market Value”

Brazil and Argentina Plan for a Latin American Common Currency

Two of Latin America’s largest economies Brazil and Argentina with eyes to strength in numbers along the lines of the Euro, plan a common currency to reduce the risk that comes with relying on the US dollar. Both countries have been in a cycle of a financial roller coaster since the Latam financial crisis of the 1970’s. Market crashed continue to pop up in recent years. The hope is it would strengthen trade amongst the group. It would at first … Continue reading “Brazil and Argentina Plan for a Latin American Common Currency”

Microsoft, Motorola, Knight-Swift and Discover Credit Suisse Top of the Crop Ideas

Credit Suisse selected four stocks in their latest “Top of the Crop” picks list, the banks conviction list for December. The four stocks are Microsoft (MSFT), Motorola Solutions (MSI), Knight-Swift Transportation (KNX) and Discover Financial Services (DFS). Product Manager Andrew St. Pierre defines the “Top of the Crop” stocks as the “highest conviction combined with the least demanding market expectations.” The “Top of the Crop” criteria: On Microsoft “For at least the next five years, we expect: (1) Azure to … Continue reading “Microsoft, Motorola, Knight-Swift and Discover Credit Suisse Top of the Crop Ideas”

Microsoft to Acquire 4% Stake in London Stock Exchange in Cloud Migration Deal

Microsoft on Monday announced they are to acquire a 4% equity stake in the London Stock Exchange Group, which owns the London Stock Exchange. The deal is part of a ten-year commercial deal with the $LSEG to migrate the exchange operator’s data platform into the cloud. MSFT will enable digital transformation of LSEG’s technology infrastructure and Refinitiv platforms on to the Microsoft Cloud. Microsoft will buy LSEG shares from the Blackstone/Thomson Reuters consortium, the British exchange operator said. The transaction … Continue reading “Microsoft to Acquire 4% Stake in London Stock Exchange in Cloud Migration Deal”

NRG Energy to Buy Vivint Smart Home in $5.8 Billion Deal

NRG Energy Inc. on Tuesday said it agreed to buy Vivint Smart Home Inc., for $2.8 billion in cash the assumption of $2.4 billion of the company’s debt for a total deal value of $5.2 billion. NRG, which produces and sells energy services, said it would pay $12 a share for Vivint, a 33% premium to Vivint’s closing share price on Monday. NRG is effectively betting on the smart device market by buying $VVNT which offers integrated home systems that … Continue reading “NRG Energy to Buy Vivint Smart Home in $5.8 Billion Deal”

Paul Cezanne’s La Montagne Sainte-Victoire, Ensemble Sold for $138 Million from Paul Allen’s Collection

Paul Cezanne’s La Montagne Sainte-Victoire from 1888-90 sold for $138 million at auction this month. The painting was the second highest piece sold at the November 8 auction of the art collection owned by the late Microsoft co-founder Paul Allen was the largest single-owner sale in history. The work carried a presale estimate of $120 million and sold at Christie’s for $138 million, (hammer price with fees). “Sainte-Victoire became part of Cezanne’s identity, a veritable talisman of his innermost self.” The … Continue reading “Paul Cezanne’s La Montagne Sainte-Victoire, Ensemble Sold for $138 Million from Paul Allen’s Collection”

The World’s Largest Pension Funds, Who They Are and Where They Invest

Global pension funds saw relatively strong growth in 2021, recall the end of 2021 many stock markets hit all-time highs and the bond market had not been routed yet. The world’s 100 biggest pension funds were worth over $17 trillion in total, an increase of 8.5% over 2020. A study from the Thinking Ahead Institute and Pensions & Investments released in September 2022 gives us a look into who are the largest pension funds around the world. The top 20 pension funds … Continue reading “The World’s Largest Pension Funds, Who They Are and Where They Invest”

India’s BSE Sensex Stock Market Closes at Record High

India’s BSE Sensex 30-pack index on Thursday settled at a new closing high of 62,272.68, up 762.10 points or 1.24% extending its rally to the third straight day. During the day, it jumped 901.75 points or 1.46 per cent to its lifetime high of 62,412.33 led by large caps. The move tracked a firm trend in global markets after the US Fed minutes indicated a slower pace of rate increase that bolstered investors’ sentiment. Policy-sensitive tech shares benefited from the … Continue reading “India’s BSE Sensex Stock Market Closes at Record High”

Malaysian Ringgit and Kuala Lumpur Stocks Soar After Anwar Ibrahim Appointed PM

The Malaysian ringgit and the main Kuala Lumpur stock index soared Thursday amid easing political turmoil. Malaysia’s king appointed long-time opposition leader Anwar Ibrahim as prime minister Thursday as the country’s 10th prime minister. The FTSE Bursa Malaysia KLCI Index jumped just over 4 per cent to close at 1,501.88 points in its strongest single day increase since March 2020. Malaysian ringgit strengthened by almost 2% to above $4.5 on Thursday, the sharpest rise since March 2016 and pushing the … Continue reading “Malaysian Ringgit and Kuala Lumpur Stocks Soar After Anwar Ibrahim Appointed PM”

Emerging Markets Facing Highest Currency Crisis Risk Since 1999

This year we have seen a run-on EM market which is unleashing a dangerous dynamic. We have seen EM systems facing global de-risking/deleveraging without a clear Fed and central banking community “put.” Nomura has warned 22 of the 32 countries covered by its in-house “Damocles” warning system have seen their risk rise since its last update since May to the most vulnerable since July 1999 and near the peak at “the height of the Asian crisis”. Seven countries, Egypt, Romania, Sri … Continue reading “Emerging Markets Facing Highest Currency Crisis Risk Since 1999”