Standard Chartered lifts year-end ether forecast to $7,500
The brokerage also raised its 2028 year-end ether forecast to $25,000 from $7,500
World's no.2 crytocurrency was last trading at $4,679.47, a level last seen in November 2021.
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Reuters
2 hours ago
- Reuters
Investors react to US-Russia summit reaching no agreement
NEW YORK, Aug 15 (Reuters) - A highly anticipated summit between U.S. President Donald Trump and Russian President Vladimir Putin on Friday yielded no agreement to resolve or pause Moscow's war in Ukraine, despite both leaders describing the talks in Alaska as productive. During a brief appearance before the media following the nearly three-hour talks, the two leaders said they had made progress on unspecified issues. But they offered no details and took no questions, with the normally loquacious Trump ignoring shouted questions from reporters. "There were many, many points that we agreed on. I would say a couple of big ones that we haven't quite got there, but we've made some headway," Trump said, standing in front of a backdrop that read, "Pursuing Peace." COMMENTS: HELIMA CROFT, GLOBAL HEAD OF COMMODITY STRATEGY AT RBC CAPITAL MARKETS, NEW YORK: "It seems to be the scenario that we anticipated in our note. Soundbites signaling diplomatic progress but few concrete deal specifics. We will watching to see whether the 'too be continued' outcome is enough to table the secondary sanctions on India for continuing to import Russian oil. Certainly will fall short of anything that will convince the Europeans to consider vacating their Russian energy sanctions." CAROL SCHLEIF, CHIEF MARKET STRATEGIST, BMO PRIVATE WEALTH, MINNEAPOLIS: "The only news was absolutely no news out of it. Not sure there will be any market impactful portions - geopolitical issues in general do not tend to preoccupy market attention for very long if at all." "Markets are at new highs despite this conflict going on for three years. Markets care more about consumers, inflation and commentary from Wyoming next week." ERIC TEAL, CHIEF INVESTMENT OFFICER, COMERICA, CHARLOTTE, NORTH CAROLINA: "The fact that there were no economic sanctions is a positive and markets should breathe a sigh of relief, but it doesn't appear as though a deal is in hand." "If anything, we see opportunity in the energy sector, as oil prices are at pretty low levels here and the prospect of sanctions on oil did not bear out. There could be a relief rally and that would be an opportunity to invest in energy as we head into higher seasonal demands and economic growth beginning to re-accelerate." "Gold and precious metals are likely to sell off because of being an asset class good for safety. Given concerns about inflation, they are a good buying point as well if any weakness." EUGENE EPSTEIN, HEAD OF TRADING AND STRUCTURED PRODUCTS, NORTH AMERICA, MONEYCORP, NEW JERSEY: "I don't think anybody expected it to be particularly specific or substantive. It's essentially a first step towards potentially something more. They both kind of said everything diplomatically. But it's more about the significance of the meeting as a whole, as opposed to the content of what they're saying." "Again, I don't think anybody really expected them to suddenly within a couple of hours come up with a very specific set of plans or any kind of blueprint to something. It basically was just showing their willingness to have continued talks to arrive at a conclusion that is beneficial for all parties. And I think this is just the first steps, and many more to come." "Basically, President Trump needs to go back to the European Union and relay what Putin has said. And then he's got to negotiate with Zelenskiy. For the most part, I think they've laid the groundwork for a deal. And my feeling is that it will probably get done, but there's probably a couple more steps. I'm thinking one of those steps will be Trump, Putin and Zelinski all meeting in the next month." "They will probably reach a deal in 30 days. I was kind of surprised that they didn't take any questions. So there's a little bit of disappointment in that, but until a deal is done, you can't really take any questions." "Overall, the markets will like it marginally because I think they've made some progress. But I don't think we will be up 400 points in Dow futures on Sunday night." MICHAEL ASHLEY SCHULMAN, CHIEF INVESTMENT OFFICER, RUNNING POINT, EL SEGUNDO, CALIFORNIA: "At this point, it has been three years into the war, so it really shouldn't have much effect. I think markets will take it as status quo, but I think there's only upside from here." JAMIE COX, MANAGING PARTNER, HARRIS FINANCIAL GROUP, RICHMOND, VIRGINIA: "Without Ukraine at the table, there was little chance for a peace accord. That Putin attended at all was significant, but he can't be seen ending the conflict while on American soil meeting with Trump."
Reuters
3 hours ago
- Reuters
Exchange operator Miami International soars 38% in debut after $345 million IPO
NEW YORK, Aug 14 (Reuters) - Shares of Miami International Holdings (MIAX.N), opens new tab jumped 38% from their initial public offering price, valuing the exchange operator at about $2.5 billion on its debut in New York on Thursday. The stock market launch of MIAX, as the company is referred to, marks the first listing of a major U.S. financial exchange in 15 years, as only a handful of exchange operators have gone public since the 2000s. Shares of MIAX, which has been attempting to go public since 2022 when it first filed confidentially for its flotation, opened for trading at $31.65 apiece, above the $23 IPO price. "We thought now is a good time (for us to go public) because of the macro-economic climate. I also thought in mid-August there wouldn't be as much going on in the capital markets with respect to IPOs, and we could get the attention," said Thomas Gallagher, chairman and CEO of MIAX, in an interview with Reuters. The Princeton, New Jersey-based company sold 15 million shares above the marketed range of $19 to $21 apiece to raise $345 million on Wednesday, making it one of the biggest share sales of a U.S. bourse operator. CME Group (CME.O), opens new tab was the first U.S. exchange to go public in 2002, while Cboe Global (CBOE.Z), opens new tab listed in 2010. Exchanges have also thrived this year as heightened market volatility fueled record trading volumes and boosted profits. "It's a niche area, but it's one investors are comfortable with. MIAX is clearly riding some multi-year tailwinds in the options space," said Matt Kennedy, senior strategist at IPO-focused research and ETFs provider Renaissance Capital. MIAX, which was co-founded by Gallagher, was launched in 2007 after a wave of consolidation amongst equity and options exchanges. MIAX operates nine securities and derivatives exchanges and the majority of its revenues are generated from options trading. The U.S. options market has witnessed explosive growth since the Covid-19 pandemic and the meme-stock frenzy of 2021. The company launched its first options exchange in 2012 and has gained market share from rivals over the past decade. In the first half of 2025, it had a 16% market share in the U.S. options industry, behind only the NYSE, Nasdaq, and Cboe, according to the Options Clearing Corporation. While it currently does not have any products involving crypto futures, MIAX is open to opportunities to expand its offerings to potentially cash in on the demand for crypto. "If a crypto partner comes to me and says, we'd like to do a joint venture to bring a crypto offering, either to your futures exchange or some type of an option on some crypto index, we're open for business," Gallagher said. MIAX counts the likes of private equity firm Warburg Pincus and market-making giant Citadel Securities among its prominent investors. Citadel and other market-making firms like Susquehanna Securities, which are also MIAX's biggest customers, currently hold a roughly 20% stake in the company. MIAX's debut comes a day after a blowout launch for crypto exchange Bullish, whose shares surged 84% after it started trading on Wednesday. JPMorgan Chase, Morgan Stanley, and Piper Sandler were the lead underwriters for MIAX's offering.
Daily Mail
4 hours ago
- Daily Mail
Rodgers urges Celts to move away from bargain buys as boss admits potential doesn't come cheap
Brendan Rodgers believes Arne Engels is walking proof that Celtic have to invest substantial sums of money even to buy players with potential these days. The Parkhead club have been quiet to date in the summer transfer window with the manager making it clear in recent weeks that there are areas of the team which require strengthening. Despite the lack of investment, Celtic still cruised into the quarter-finals of the Premier Sports Cup with a 4-1 over Falkirk. Afterwards, though, Rodgers cited the example of the Belgian international — a record £11million signing from Augsburg last year — as a reason why they club can't always expect to make first-team players from bargain basement signings. 'His attitude is great,' he added after the comprehensive win. 'He tired a little bit so there was a little bit of looseness towards the last five, 10 minutes. But his quality from his set piece and his general work rate and intensity was great. So, no, he's a boy that gives everything. 'And there's a lot on his shoulders as an expensive player. But we bought potential. The club has bought potential many times. And a lot of them aren't here. 'This is a guy who has potential, but it costs a little bit more. 'He's nowhere near the finished article. We've just had to pay more for potential. You can buy potential at a million quid and two million quid. 'And a lot of the time, it doesn't work. Sometimes it does. I will tell you a lot of time it doesn't. 'But him, we've had to pay a little bit more to get the athleticism, to get the physicality that this team needed. And now I've got great options in there. Guys that are physical, but guys that are technical. So, I don't complain.' Although the deadline for signings players for next week's Champions League play-off against Kairat Almaty has passed, the Northern Irishman remains hopeful that he might yet be able to add two wildcards ahead of Wednesday's first leg at Parkhead. 'Hopefully, it would be great,' he said. 'We've obviously named a squad, but right up until just before the game, we can do that. So that would be really good if we can.' Rodgers was delighted with the way his side dismantled the Premiership newcomers with goals from Daizen Maeda, Alistair Johnston, Dane Murray and a Liam Henderson own goal doing the damage before Kennan Adams scored a spectacular consolation. 'I thought the performance was very, very good from the first whistle,' he said. 'You've seen the hunger in the team and the intensity in the team. The first half we were good with the ball, but not so good without it. 'It gave Falkirk a couple of wee opportunities to break through. We weren't aggressive enough and tight enough. When we correct that at half-time, we really dominated the second half. 'So, yeah, very, very pleased. The goals were excellent and I thought we played really, really well.' Rodgers was delighted for defender Murray who netted his fist Celtic goal on the day he signed a new contact until 2028. 'There's areas of the game that he needs to, obviously, work on,' said the manager. 'But he's six foot four. He's quick. He can take the ball. 'He has a comfort with the ball, which aligns with top players. And he just, again, has to work ion concentration as it's something that's key for defenders. But I really, really like him. 'And that's hence the reason we've tied him down. And I think he's got a great future.'
