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The SPI index closed 1.06% higher at 16,950.37 points, reflecting a year-to-date increase of 9.23%. Strong performers included Adval Tech and EFG International, while Pierer Mobility saw the largest decline. UBS led in trading volume, and Nestlé maintained the highest market capitalization.
UBS has maintained a "Neutral" rating on Renault shares with a target price of 47 euros, citing mixed registration data for May and moderate sales growth. Despite this, the strength of Renault's balance sheet was highlighted, as shares rose 1.05% to close at 43.45 euros on the Paris stock exchange.
UBS Asset Management has launched three overnight rate ETFs targeting the euro, US, and UK yield curves, each with a total expense ratio of 0.10%. The ETFs, which utilize synthetic replication to track their respective indices, are designed to provide a positive spread over the overnight rate by holding equities in their substitute baskets. With growing interest in overnight rate ETFs as cash substitutes, UBS aims to enhance its offerings in the low-fee ETF market.
Asian equities rose on renewed optimism for US-China trade talks, with officials describing previous discussions as "good" and "fruitful." European markets are poised for modest gains, supported by the autos sector, while the US dollar strengthens against most currencies.In commodities, crude oil prices are slightly higher amid improved risk sentiment, though gold faces pressure from dollar strength. UK employment data shows rising unemployment and slowing wage growth, raising concerns for the Bank of England as it considers potential interest rate cuts.
L'Oréal shares have rebounded approximately 10% since late April, recovering from a low of €320, aided by geopolitical developments and improved market sentiment. The stock, trading at a historically low valuation of 28 times earnings, has crossed significant technical thresholds, making it an attractive buy above €368, with potential targets of €410 and €515. The company's defensive brand portfolio positions it well against economic downturns, enhancing its risk/return profile.
Super Capital is expanding into the Middle East and Africa, launching the MEA Club to invest €100K–€250K in 10 high-potential startups annually across sectors like fintech and healthtech. Co-founded by Corentin Orsini, the firm emphasizes a founder-first approach, connecting European investors with emerging-market innovation.
UBS has maintained a "Buy" rating for Delivery Hero, setting a target price of 39 euros. Analyst Jo Barnet-Lamb noted that the South Korean food delivery service Baemin lost market share in May, primarily due to competition from Coupang Eats, and anticipates continued losses through the year, albeit at a slower pace. The focus now shifts to stabilizing Baemin's market share in major Korean cities and achieving growth.
HR tech startup Nova has raised USD 3.65 million to enhance its AI-powered professional network, with backing from CDP Venture Capital and Doha Tech Angels. Founded in 2020, Nova aims to expand internationally, improve its technology, and develop its LinkedIn-alternative SaaS tool, Nova Recruiter. CEO Andrea Marino highlighted the opportunity in the Middle East's talent market and the need for platforms that address recruiting inefficiencies.
Bayer shares surged 6.9% in early June, nearing this year's high of EUR 26.94 after a strong performance following Q1 results. A breakout above this resistance could lead to gains towards EUR 28.00, while a drop below the May top may see prices retreat to EUR 25.47 or lower.
As European markets rise and inflation slows, investors are turning to dividend stocks for stable income. Teleperformance SE, a digital business services company with a market cap of €5.54 billion, offers a 4.5% dividend yield, reflecting strong fundamentals and a commitment to shareholder value. The company has consistently increased dividends over the past decade, supported by sustainable payout ratios.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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