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Indian markets saw a boost from global trends. The S&P 500 and Nasdaq touched record highs driven by artificial intelligence deals. AMD's partnership with OpenAI fueled this surge. Despite a US government shutdown, investor sentiment remained strong for AI-related companies. Upcoming earnings reports and economic data will be closely watched.
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News and Media
ECB President Christine Lagarde said that any EU decision on using frozen Russian state assets for Ukraine must adhere to international law. The bloc is exploring a plan to invest the immobilised funds in bonds, with the proceeds potentially forming a "Reparations Loan" to Ukraine. Lagarde emphasised the importance of financial stability and the euro's credibility in this process.
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Mexico's agriculture ministry confirmed a new screwworm case in Nuevo Leon, originating from southern Mexico. The infested calf was treated, rendering larvae unviable, and did not affect other animals in the shipment. This detection, separate from a September case, has prompted continued U.S. import restrictions on Mexican cattle.
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LG Electronics India is set to launch an IPO, aiming to raise over 11,000 crore. The company boasts strong financials, with higher revenue, Ebitda, and a remarkable 37.1% return on net worth for FY25 compared to rivals. Its attractive valuation, with a lower P/E multiple than peers, makes it a compelling long-term investment opportunity.
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Canara Bank is set for better recovery from Karanja Terminal & Logistics. A price discovery process attracted higher bids for the asset. The infrastructure company owes lenders around 600 crore. Prudent Asset Reconstruction Company made a binding offer of 520 crore. This offer trumped the promoter's settlement proposal. The sale is currently challenged in court.
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News and Media
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