Latest news with #stockmarket
Bloomberg
20 minutes ago
- Business
- Bloomberg
Ola Electric Plunges as Losses More Than Double Amid Sales Drop
Ola Electric Mobility Ltd. declined the most in more than a month, after reporting quarterly losses that more than doubled from a year ago as sales dropped. The shares declined as much as 9.7%, the most intraday since April 7. Net loss was at 8.7 billion rupees ($102 million) in the quarter ended March 31, compared with 4.16 billion rupees a year ago, the company said in a statement Thursday.
Zawya
an hour ago
- Business
- Zawya
EGX Chairman expects to launch a Treasury Bills Index this year
The Egyptian Exchange (EGX) is expected to launch a Treasury Bills Index this year, Ahmed El Sheikh, the chairman of the bourse told Zawya in an interview. El Sheikh's statement came on the sidelines of the annual conference of the Arab Federation of Capital Markets that was held in Tunisia in the middle of this month, in which several African and Arab stock exchanges participated. "Within a short period, we hope to issue a Treasury Bills Index... this year, God willing," El Sheikh said. El Sheikh had announced in a previous interview with Zawya last February the Exchange's intention to develop three indices, the Treasury Bills Index, a Low Volatility Stocks Index, and an index that combines sustainability and Shariah-compliant standards. In his interview with Zawya in Tunisia, El Sheikh said that work is underway on the other two indices and that they might be launched this year as well after the Treasury Bills one. Behind the headline While the EGX is seeking to attract government offerings to support private sector initial public offerings (IPOs), it is also working with the Financial Regulatory Authority (FRA) to curb the delisting of companies from the market. "We saw two companies delisting from the Exchange as a result of an investor acquiring them through the (offering) program... in coordination with FRA and relevant entities in Egypt, we are trying to ensure that whoever buys a (listed) company or acquires a public share (in it), should buy up to 90% and leave a minimum percentage of free float on the stock exchange," El Sheikh said. According to the listing rules on the EGX, free float shares must not be below 10% for both the main market and the small- and medium-sized enterprises market. In 2023, a government entity sold a majority stake in the Paints and Chemical Industries Company (Pachin) to the UAE-based National Paints company as part of the government's IPO program. Pachin was subsequently delisted from the stock exchange. In the same year, government institutions, including Banque Misr, the country's second-largest state-owned bank, divested from Al Ezz Dekheila Steel Co. - Alexandria, a subsidiary of Ezz Steel Group. Al Ezz Dekheila Steel Co. delisted from the stock exchange after that. Click here for the Arabic article.
Bloomberg
2 hours ago
- Business
- Bloomberg
Sharp Decline in Volatility Index Catches Seasoned Traders Off Guard
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Savio Shetty, an equities reporter in Mumbai. Nifty futures point to a flat start, and may follow Asian markets lower as uncertainties around President Trump's tariffs whipsawed the markets. Still, Indian stocks are poised for a third straight month of gains, helped by foreign inflows and improvement in earnings. The focus will be on Ola Electric after the firm's fourth quarter net loss doubled from a year ago.
Bloomberg
2 hours ago
- Business
- Bloomberg
Bloomberg Daybreak Asia: Trump Wins Tariff Reprieve
A federal appeals court offered President Donald Trump a temporary reprieve from a ruling threatening to throw out the bulk of his sweeping tariff agenda, giving at least some hope to a White House now facing substantial new restrictions on its effort to rewrite the global trading order. Meantime, Asian shares and US stock futures declined as uncertainties around President Trump's tariffs whipsawed the markets. For more, we spoke to Mary Nicola, Bloomberg MLIV Strategist. Plus - the US equity market advanced as it grappled with several forces such as solid guidance from Nvidia, legal uncertainty around President Trump's trade war and questions about monetary policy. That is after the fact President Trump pushed Federal Reserve Chair Jerome Powell to lower interest rates. We speak to Scott Ladner, Chief Investment Officer at Horizon Investments.
Bloomberg
2 hours ago
- Business
- Bloomberg
China Tech Alive And Well: JPMorgan
The Asia Trade Chinese tech stocks are "alive and well" and remain attractive despite market turmoil, according to JPMorgan Asset Management APAC Equities Portfolio Manager Aisa Ogoshi. She speaks to Bloomberg TV's Paul Allen and Haidi Stroud-Watts on The Asia Trade. (Source: Bloomberg)
