Latest news with #BME
Yahoo
2 days ago
- Business
- Yahoo
UBS explains why the case for EM stocks is getting better
-- UBS says the investment case for emerging market (EM) equities is strengthening, underpinned by supportive macro trends and improved relative valuations. 'The case for EM equity is getting better,' the firm wrote in a note to clients, citing catalysts such as a weaker U.S. dollar, easing credit conditions in China, and broad monetary policy flexibility. According to UBS, EM equities now top its global scorecard, supported by favourable monetary conditions, positive earnings revisions, and sensitivity to a macro scenario that includes falling U.S. TIPS yields and looser Chinese fiscal policy. 'Virtually all EM ex Brazil are in cutting mode,' the analysts noted. UBS said it raised EM to benchmark back in April, arguing that the likelihood of outperformance had grown. While EM equity performance has lagged debt, the firm believes top-down conditions are aligning for a catch-up. China and Brazil were flagged as standout opportunities. UBS cited China's 'dividend yield close to junk bond yield, better earnings revisions than global markets, huge underownership and signs of improved capital discipline.' Meanwhile, in Brazil, 'rates have now peaked,' said the bank. The bank is overweight currencies like the Taiwan dollar, which benefit from strong net international investment positions, while recommending downside protection on cyclical currencies such as the South Korean won. UBS also highlighted indirect exposure to EM through companies like Colgate and AB InBev, as well as developed market banks such as Santander (BME:SAN) and Standard Chartered, all of which retain 'relatively cheap' valuations. 'The case for EM is getting better in our opinion,' UBS said, though it warned there is 'little margin for error ahead of August 1.' Related articles UBS explains why the case for EM stocks is getting better Victoria's Secret Exposed: The Warning Sign Behind the Stock's 52% Collapse Risks Rising? Smart Money Dodged 46%+ Drawdowns on These High-Flying Names Sign in to access your portfolio
Business Insider
5 days ago
- Business
- Business Insider
Citi Sticks to Its Buy Rating for Puig Brands, S.A. (PUIG)
In a report released on July 17, Danping Liu from Citi maintained a Buy rating on Puig Brands, S.A., with a price target of €19.00. The company's shares closed yesterday at €16.07. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Liu is ranked #9037 out of 9841 analysts. In addition to Citi, Puig Brands, S.A. also received a Buy from Jefferies's David Hayes in a report issued on July 16. However, yesterday, Berenberg Bank maintained a Hold rating on Puig Brands, S.A. (BME: PUIG).
Time of India
14-07-2025
- Business
- Time of India
India's new copper import rules could trigger supply crunch, warns trade body
India's quality control order on copper cathodes is likely to reduce domestic availability due to "costly and unnecessary compliance burdens" on foreign suppliers, the Bombay Metal Exchange said. India, the world's second-largest importer of refined copper, imposed quality controls on copper cathode imports in December, requiring all suppliers, foreign and domestic, to ensure there were checks on substandard products in the country. The quality control curbs have led to a decline in imports, the Bombay Metal Exchange (BME) said - a claim rejected by the government. "With domestic licensees unable or unwilling to supply the market and unreliable foreign alternatives, the downstream sector faces real and immediate shortages," the BME said. India's federal Ministry of Mines did not immediately respond to an email seeking comment. To meet the quality control rules, suppliers have to get a licence from the Bureau of Indian Standards , which oversees quality control in India. The quality controls have faced a legal challenge from trade bodies in India, including the BME and the Bombay Non-Ferrous Metals Association. The government has defended the quality control order in court against claims that it would lead to supply shortages and create a supply monopoly. The BME said all five domestic licensees use copper cathodes entirely for their own consumption. "As for foreign ... licensees, four of the 10 do not supply copper cathodes at all, offering only ingots or semi-finished forms," the BME said in a statement to Reuters. Among the 10 foreign suppliers who have secured certification under the new rules, seven are from Japan, two from Malaysia, and one from Austria, the Indian government said last month. Japan accounts for about two-thirds of India's refined copper imports, followed by Tanzania and Mozambique. The BME said there are growing indications the Japanese licensees will withdraw from the Indian market due to costly and unnecessary compliance burdens. Japanese trading house Marubeni, which was involved in the licensing process for six Japanese smelters, said: "No particular issues have arisen concerning supply to India." Copper is one of 30 minerals identified as critical by India in 2023, with domestic demand expected to double by 2030. Major domestic suppliers include Hindalco Industries and state-owned Hindustan Copper .
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Business Standard
14-07-2025
- Business
- Business Standard
India's new copper cathode rule risks supply shortages, says trade body
India's quality control order on copper cathodes is likely to reduce domestic availability due to "costly and unnecessary compliance burdens" on foreign suppliers, the Bombay Metal Exchange said. India, the world's second-largest importer of refined copper, imposed quality controls on copper cathode imports in December, requiring all suppliers, foreign and domestic, to ensure there were checks on substandard products in the country. The quality control curbs have led to a decline in imports, the Bombay Metal Exchange (BME) said - a claim rejected by the government. "With domestic licensees unable or unwilling to supply the market and unreliable foreign alternatives, the downstream sector faces real and immediate shortages," the BME said. India's federal Ministry of Mines did not immediately respond to an email seeking comment. To meet the quality control rules, suppliers have to get a licence from the Bureau of Indian Standards, which oversees quality control in India. The quality controls have faced a legal challenge from trade bodies in India, including the BME and the Bombay Non-Ferrous Metals Association. The government has defended the quality control order in court against claims that it would lead to supply shortages and create a supply monopoly. The BME said all five domestic licensees use copper cathodes entirely for their own consumption. "As for foreign ... licensees, four of the 10 do not supply copper cathodes at all, offering only ingots or semi-finished forms," the BME said in a statement to Reuters. Among the 10 foreign suppliers who have secured certification under the new rules, seven are from Japan, two from Malaysia, and one from Austria, the Indian government said last month. Japan accounts for about two-thirds of India's refined copper imports, followed by Tanzania and Mozambique. The BME said there are growing indications the Japanese licensees will withdraw from the Indian market due to costly and unnecessary compliance burdens. Japanese trading house Marubeni, which was involved in the licensing process for six Japanese smelters, said: "No particular issues have arisen concerning supply to India." Copper is one of 30 minerals identified as critical by India in 2023, with domestic demand expected to double by 2030. Major domestic suppliers include Hindalco Industries and state-owned Hindustan Copper. (Reporting by Neha Arora in New Delhi and Katya Golubkova in Tokyo; Editing by Mayank Bhardwaj and Jane Merriman)
Time of India
14-07-2025
- Business
- Time of India
India's new copper import rules could trigger supply crunch, warns trade body
India's quality control order on copper cathodes is likely to reduce domestic availability due to "costly and unnecessary compliance burdens" on foreign suppliers, the Bombay Metal Exchange said. India, the world's second-largest importer of refined copper, imposed quality controls on copper cathode imports in December, requiring all suppliers, foreign and domestic, to ensure there were checks on substandard products in the country. The quality control curbs have led to a decline in imports, the Bombay Metal Exchange (BME) said - a claim rejected by the government. "With domestic licensees unable or unwilling to supply the market and unreliable foreign alternatives, the downstream sector faces real and immediate shortages," the BME said. India's federal Ministry of Mines did not immediately respond to an email seeking comment. Live Events To meet the quality control rules, suppliers have to get a licence from the Bureau of Indian Standards , which oversees quality control in India. The quality controls have faced a legal challenge from trade bodies in India, including the BME and the Bombay Non-Ferrous Metals Association. The government has defended the quality control order in court against claims that it would lead to supply shortages and create a supply monopoly. The BME said all five domestic licensees use copper cathodes entirely for their own consumption. "As for foreign ... licensees, four of the 10 do not supply copper cathodes at all, offering only ingots or semi-finished forms," the BME said in a statement to Reuters. Among the 10 foreign suppliers who have secured certification under the new rules, seven are from Japan, two from Malaysia, and one from Austria, the Indian government said last month. Japan accounts for about two-thirds of India's refined copper imports, followed by Tanzania and Mozambique. The BME said there are growing indications the Japanese licensees will withdraw from the Indian market due to costly and unnecessary compliance burdens. Japanese trading house Marubeni, which was involved in the licensing process for six Japanese smelters, said: "No particular issues have arisen concerning supply to India." Copper is one of 30 minerals identified as critical by India in 2023, with domestic demand expected to double by 2030. Major domestic suppliers include Hindalco Industries and state-owned Hindustan Copper .
