Trade Financial News

One of the most annoying things that can ever happen to a banker is to suspect, halfway through an interview process, that the decision has already been made and you are just being put through the hoops.  Consequently, although the search consultants retained by HSBC to find a replacement for Noel Quinn are being asked to consider external candidates “to benchmark” the merits of Nuno Rato and George Elhedery, they might find it difficult to persuade many senior global bankers that it’s worth their while to update a resume.

As we noted a few weeks ago, Eisler Capital the self-proclaimed «intellectually honest hedge fund» that's on a hiring spree is having some issues with a headhunting firm, which says it's owed £389k ($492k) after placing a portfolio manager there. 

Stefano Murdaca might have been expected to stay at Barclays. Since joining the British bank as a summer intern five years ago, sources say he'd distinguished himself and was seen as up-and-coming talent on the European government bond (EGB) trading desk.

Stanley Sheriff is hot property. Since leaving Goldman Sachs' London rates desk in 2018 he's worked for DRW, LMR Partners, Millennium, Taula Capital Management (seeded by Millennium) and — now — Balyasny Asset Management (BAM). 

«Looking at the broader market and the market breadth has improved significantly. Nifty has shown short-covering action and now we are comfortably holding above 22,400 marks. So, looking at this data setup, we are confident that, yes, this rally can extend further,» says Rajesh Palviya, Axis Securities. Going forward, we are getting closer and closer to the elections. Is the volatility likely to continue? What is being pencilled in on the charts for the benchmark indices for next week?

index majors helped the indices rebound from early lows. In today's special trading session, shares of ZEE, Delhivery, Bandhan Bank, JSW Steel, Concord Biotech among others will be in focus due to various news developments and quarterly earnings. ZEE ZEE Ltd has reported a net profit of Rs 13.35 crore for the quarter ended March 2024, compared with a loss of Rs 196 crore in the same quarter of last year.

MUMBAI: Indian equity markets will remain open on Saturday, May 18, for a special trading session, while both BSE and NSE will be remain closed on Monday, May 20, due to parliamentary polls in Mumbai. The special trading session will be held to check the preparedness of market intermediaries in case of a major disruption or failure of the primary site.

Equity markets traded firmly for the most part of Friday and closed with gains. The exchanges will remain open on Saturday for a special trading session to prepare for disaster management. «Overall, we expect markets to witness a gradual recovery. However, concerns regarding consistent FII selling, India VIX still above 20 levels, ongoing general election polling and the outcome could keep volatility higher,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial

Bank of America (BAC) upgraded its rating on Coinbase (COIN) shares from underperform to neutral on Friday and raised its price target for Coinbase to $217 from $110, reflecting a positive outlook for the cryptocurrency exchange.

The Financial Industry Regulatory Authority Inc. on Thursday penalized a small Los Angeles broker-dealer with a censure and a $50,000 in restitution for a variety of shortcomings including violations of Regulation Best Interest, which in 2020 became the standard of conduct for the more than 300,000 brokers and sales people registered with Finra.

What’s in a number? Especially one like Dow 40,000, which was crossed this week for the first time ever.

Russia and China are interested in increasing their oil and gas trade, President Vladimir Putin told reporters in Harbin on Friday. «Mutual interest in implementation of such projects has been confirmed,» Putin said in the final hours of his state visit to China, as per a briefing broadcast by state-run Rossiya 24 TV. «We have a huge common border and nothing can interfere: neither sanctions against the tanker fleet, nor sanctions against financial institutions. We will buy and sell everything in national currencies.» Russia's relations with western nations, formerly its main energy market, are at the lowest point since the Cold War due to Putin's invasion of Ukraine. That makes Moscow increasingly reliant on oil and gas deliveries to growing Asian economies. China, the word's largest energy importer, is currently a key buyer of Russian barrels and Gazprom PJSC's natural gas.

Fantom ($FTM) has outperformed all other Layer 1 tokens this week and risen 10% amidst a flurry of recent activity on the network, with FTM trading at $0.80 at the time of writing.c

MAGA VP is a politifi meme coin that is gaining traction faster than expected. Its token value has taken off, listed at $0.608 at the time of writing this article. That is up by 28% in the last 24 hours. Dips bought earlier this month have certainly paid off, almost like they did in April when MVP marked an uptick of 300%. Market cap has more attention from the community, for it is now above $25 million, almost around $28.8 million right now.

Popular and lovable Solana meme coin Slothana ($SLOTH) today announced that it will be listed on top 10 crypto exchange HTX.

Motilal Oswal Financial Services. Also read: Gold rate today: Gold price retraces from three-week high despite US Fed rate cut buzz, weak US dollar. Buy or wait? Damani added, “The CME Fed-watch tool showed traders pricing in a greater chance of a 25 bps cut in September, at nearly 54%.

Thames Water Utilities Ltd.’s biggest shareholder has written off its investment in the utility in a sign of the escalating financial crisis at the United Kingdom‘s largest water company.

India’s foreign exchange reserves climbed for the second consecutive week, reaching a peak of $644.15 billion as of May 10, according to data released by the central bank on Friday, reported Reuters.

India is a friend of the world and the global community expects it to contribute significantly in bringing peace to war-torn Ukraine, Swiss State Secretary of Foreign Affairs Alexandre Fasel said on Friday as Switzerland prepares to host a major summit next month to end the conflict in Ukraine. Fasel held wide-ranging talks with his Indian interlocutors and extended an invitation to the Indian prime minister for participating at the summit that is aimed at charting a course for a just and lasting peace in Ukraine. Switzerland has extended invitations to over 160 countries for the summit to be held on June 15 and 16. «India is a friend of the world. There is really an expectation from the international community that India can contribute to this (peace) process,» Fasel told PTI in an interview.

Investors and traders are finding no respite from the election heat, with exchanges even holding a special trading session on Saturday. Both the equity cash and derivative markets will function in two sessions on Saturday.

SEBI recommends regulators to oversee crypto trade, RBI still sees ‘macro risk’ Bitcoin is poised for a robust week amid rising hopes for US Fed rate cuts. After today's increase, Bitcoin has achieved significant gains over the past seven days, rebounding from a low of $60,000 last week. The cryptocurrency is up approximately 8% from last Friday's lows, primarily driven by a weaker dollar and indications of easing U.S.