Day: September 17, 2020

Hindustan Zinc looks to raise up to Rs 4,000 cr via NCDs
Stock News

Hindustan Zinc looks to raise up to Rs 4,000 cr via NCDs

NEW DELHI: Vedanta group firm Hindustan Zinc Ltd (HZL) on Thursday said it proposes to raise up to Rs 4,000 crore via debentures. "The company proposes to offer rated, unsecured, redeemable, non-cumulative, non-convertible debentures aggregating up to Rs 4,000 crores in one or more tranches, and in this regard is holding a meeting of its duly constituted Committee of the Directors on September 22," HZL said in a BSE filing. The above issuance is pursuant to the approval of the board of directors in its meeting held on July 21, it added. Credit: Stocks-Markets-Economic Times
A shark and mermaid love affair: surreal Burberry show kicks off London Fashion Week
Commodities

A shark and mermaid love affair: surreal Burberry show kicks off London Fashion Week

By Sarah Mills LONDON, Sept 17 (Reuters) - London Fashion Week kicked off on Thursday in the midst of a coronavirus pandemic with Britain's Burberry putting on a live virtual display of its latest collection which broke with the traditional catwalk show. Burberry's Riccardo Tisci presented his spring-summer 2021 collection "In Bloom" on video streaming service Twitch, a first for the British fashion house that like others has had to adapt its runway show in the time of COVID-19. While there were plenty of models gathered to showcase the collection, rather than featuring a catwalk, the surreal show, produced with artist Anne Imhof, was set in a circle in a wooded location. "It began with a thought of British summertime; embracing the elements with a trenchcoat on the beach mixing with...
It may not pay to avoid the market in the early days of a new administration
Investing

It may not pay to avoid the market in the early days of a new administration

I was recently giving my usual spiel to clients about the importance of staying the course with their investments throughout the election season and irrespective of who ultimately wins the presidency. To illustrate that, let’s consider how stocks, as measured by the Dow Jones Industrial Average, have performed since Dow was established in 1896. A hypothetical $100 investment in the Dow would have been worth over $68,378 by the end of the second quarter of 2020.1 That gives us a good, large sample size to examine what the results would have been if investments were made only when one political party occupied the White House. In both cases – regardless of whether investments were made only when Democrat or a Republican was in power – the returns over that time frame would have been diminishe...
It’s a bull trap! 3 key metrics forecast Bitcoin price rejection at $11K
Crypto News

It’s a bull trap! 3 key metrics forecast Bitcoin price rejection at $11K

Traders are usually skeptical as Bitcoin (BTC) approaches key resistances, and there was no exception as the price added 7.7% to attack the $11K level.   Not every rally will shift technical indicators to overbought levels, but there is usually some gain in volume and futures contracts sentiment that may transition from neutral to bullish. Derivatives markets are especially sensitive to trend changes due to leverage. Yesterday, as Bitcoin price closed in on $11K, Cointelegraph cautioned that the move shouldn't raise hopes too high as rejection at this level could be followed by heavy downside. Let's analyze the most recent price movement that culminated with yesterday's $10,960 close. BTC/USD 4-hour chart. Source: TradingView Take notice how there hasn't been much resistan...
Snowflake buyers beware: IPOs that doubled have poor track record after that debut
Business news

Snowflake buyers beware: IPOs that doubled have poor track record after that debut

Snowflake IPO begins trading at the NYSE on Sept. 16th, 2020. Source: NYSE So you think Snowflake up over 100% on its first day is a big deal? Nah, there's been plenty of companies that have had first day pops bigger than that this year.  They include biotech firm CureVac, up 249% on the first day of trading, software as a service firm BigCommerce up 201%, biotech firm Berkeley Lights up 197%, cloud company nCino up 195%, and insurance fintech firm Lemonade up 139% on its first day of trading. 2020 IPOs:  big first-day pops CureVac             up 249%   (biotech) BigCommerce     up 201% (software) Berkeley Lights    up 197%  (biotech) nCino&...
State ownership helps deposit franchise of PSBs, divesting majority stakes a ‘credit negative’: Icra
Stock News

State ownership helps deposit franchise of PSBs, divesting majority stakes a ‘credit negative’: Icra

Mumbai: Divesting majority stake in state-run lenders by the government will be "credit negative" for such public sector banks (PSBs), a domestic ratings agency warned on Thursday. Many of the entities where the government is mulling selling off majority stake as per reports have a weak credit profile, Icra Ratings said, adding a move to reduce the public ownership will be hurtful. These six lenders are primarily supported by sovereign ownership and the ensuing stable deposit base, the agency said. It said there are media reports suggesting a possible divestment of majority stakes in few PSBs that were left out of consolidation exercise last year. It can be noted that some banks like UCO Bank, Bank of Maharashtra and Punjab and Sind Bank have been left out of the consolidation process. ...
Biden warns UK on Brexit: No trade deal unless you respect N.Irish peace deal
Commodities

Biden warns UK on Brexit: No trade deal unless you respect N.Irish peace deal

By Guy Faulconbridge LONDON, Sept 17 (Reuters) - U.S. Democratic presidential candidate Joe Biden warned the United Kingdom that it must honour the Northern Irish peace deal as it extracts itself from the European Union or there would be no U.S. trade deal. "We can’t allow the Good Friday Agreement that brought peace to Northern Ireland to become a casualty of Brexit," Biden said in a tweet. "Any trade deal between the U.S. and U.K. must be contingent upon respect for the Agreement and preventing the return of a hard border. Period." Johnson unveiled legislation that would break parts of the Brexit divorce treaty relating to Northern Ireland, blaming the EU for putting a revolver on the table in trade talks and trying to divide up the United Kingdom. He says the United Kingdom has t...
Libra appoints HSBC veteran to manage crypto project’s operational wing
Crypto News

Libra appoints HSBC veteran to manage crypto project’s operational wing

The Libra Association has appointed HSBC veteran James Emmett as managing director of its subsidiary firm, Libra Networks LLC. James Emmet spent 25 years at HSBC and is a former colleague of the Libra Association’s new CEO, former HSBC chief legal officer Stuart Levey. Levey is also the former Under Secretary for Terrorism under the administrations of George W. Bush and Barack Obama Emmett has held multiple roles in his long career at HSBC, most recently working as group general manager. In an official statement, Levey underscored Emmett’s extensive experience as a financial services executive “with deep substantive expertise and operational experience.” He said he believes Emmett’s leadership will “help make Libra’s vision a reality.” The Libra Association, of which Facebook is a me...
Simple forex scalping strategy you can use to trade forex
Strategy, Videos

Simple forex scalping strategy you can use to trade forex

https://www.youtube.com/watch?v=IXc-egOZq5s This is actually one of the more detailed strategy videos I've seen on YouTube, and includes the following: 1. Using multiple time-frames to identify trends as well as support/resistance. This gives us our bias and areas to focus on for price action. 2. Finding areas of consolidation (he calls them areas of sensitivity) with identifiable highs and lows. 3. Using confluence to identify high-probability trades. For example, at 3:06 we have confluence of the 100 MA and the identified resistance level, which provides us an easy stop-loss (just above the area of confluence) as well as a foreseeable entry time (because the resistance is horizontal and the 100 MA is converging downward upon it), so then at that time we look for somethi...
OPEC and non-OPEC allies to review oil production cuts after dire demand warnings
Business news

OPEC and non-OPEC allies to review oil production cuts after dire demand warnings

Oil pumping jacks, also known as "nodding donkeys", are reflected in a puddle as they operate in an oilfield near Almetyevsk, Russia, on Sunday, Aug. 16, 2020. Andrey Rudakov | Bloomberg via Getty Images LONDON — A group of some of the world's most powerful oil-producing nations on Thursday will meet to review production policy, amid a faltering recovery from the pandemic-driven rout and a bleak outlook for energy demand. OPEC and non-OPEC allies, sometimes referred to as OPEC+, will convene for an online meeting to review the market and discuss compliance with deep production cuts. The energy alliance agreed in July to cut output by 7.7 million barrels per day from August through to December, in an effort to prop up oil prices by limiting supply. Iraq and others also pledged...