Latest news with #DefenceSector
Irish Times
a day ago
- Business
- Irish Times
Banks and defence sectors weigh on European shares
European shares fell on Tuesday on the back of poor performances from the banking and defence sectors, as uncertainty continues to weigh on investors. London bucked the European trend to close in the green. Dublin The Iseq All-Share index started the third quarter of the year in the red, down 87.71 points to 11,334.00. The Dublin stock exchange's losses were led by Kenmare Resources which dropped 3.61 per cent. Further developments around a possible acquisition of the firm by former boss Michael Carville emerged in recent days. In a mixed day for the banks, AIB fell 2.79 per cent to €6.79, joined by Bank of Ireland which dropped 1.66 per cent to €11.885, while Permanent TSB was steady. Defensive stock Uniphar plc, the healthcare services group, dropped 2.27 per cent to €3.665, while Ryanair dipped 0.83 per cent. READ MORE Of the big caps, Glanbia were the winners on the day, rising 2.64 per cent to €12.83 as its share price continues to recover. LONDON London's internationally oriented FTSE 100 rose 0.28 per cent, while the domestically-focused midcap index added 0.54 per cent. Midcap stocks ended June by logging their best quarter in over four years while the blue-chip index logged monthly losses. Drugmaker AstraZeneca's shares rose 2.7 per cent after multiple sources told the Times that chief executive Pascal Soriot was considering moving the company's listing to the US. Traders are currently pricing in a 78 per cent chance of a rate cut by the Bank of England in August. Precious metal mining stocks led sectoral gains, rising 2.4 per cent as safe-haven gold jumped over 1 per cent on the weaker dollar and US tariff uncertainty. Endeavour Mining and Fresnillo added 2.8 per cent and 1 per cent, respectively. Hochschild Mining gained 5.3 per cent. Losses were led by aerospace and defence index, which declined 2.2 per cent. Rolls-Royce fell 2.9 per cent and Babcock lost 2.5 per cent. Food retailer Sainsbury's shares slid 1.1 per cent despite reporting a higher-than-expected rise in quarterly sales. Standard Chartered Bank shares fell 2 per cent after liquidators for Malaysia's sovereign wealth fund 1MDB sued the bank in Singapore alleging fraud that led to more than $2.7 billion (€2.29) in losses more than 10 years ago. In other news, Britain's competition watchdog cleared Aviva's £3.7 billion ($5.08 billion) takeover of smaller rival Direct Line that will create the UK's largest home and motor insurer. Shares of Aviva were up 0.8 per cent, while those of Direct Line rose 0.5 per cent Europe European shares ended slightly lower on Tuesday, with industrials and banks the biggest drags as investors weighed uncertainty over US trade deals with the July tariff deadline fast approaching and discussions on a US tax bill. The pan-European STOXX 600 index closed 0.2 per cent lower, coming off a more than 1 per cent fall for the month of June. Most regional bourses clocked declines, though UK's blue-chip FTSE 100 was an outlier with a 0.3 per cent rise. Industrials led losses among the major STOXX subsectors with a 1.7 per cent fall. Defence-related companies including Germany's Rheinmetall, Sweden's Saab and Italy's Leonardo all fell more than 5 per cent each. Banks also slid 1.3 per cent, with Germany's Deutsche Bank down the most with a 3.6 per cent decline. New York The S&P 500 and the Nasdaq fell from record highs in midafternoon trading on Tuesday, as Tesla shares were hit by a renewed spat between chief executive Elon Musk and US President Donald Trump, while better-than-expected economic data backed the US central bank's patient stance on rate cuts. Tesla dropped after Mr Trump threatened to cut off the billions of dollars in subsidies that Mr Musk's companies get from the federal government, after Mr Musk revived his criticism of Mr Trump's wide-ranging tax-cut and spending bill. The major indexes were mixed, but technology stocks led the decline among the major S&P sectors, while material stocks and the healthcare sector climbed. Shares of US-based casino operators rose after Macau reported a rise in June gambling revenue. Wynn Resorts and Las Vegas Sands, as well as MGM Resorts International climbed. – Additional reporting, Reuters, PA.
Mint
01-05-2025
- Business
- Mint
Defence Sector stock: Bharat Dynamics share price rises 70% from 52-week lows: Should you Buy or Sell?
Defence sector stock: Bharat Dynamics share price has risen 70% from 52 week lows. The stock that had hit 52 week lows of ₹ 897.15 on the BSE in November 2024, in line with the correction in the share markets, however has rebounded well there after. The stock is up 20% in a month outperforming Nifty 50 index that is up just 5% during the period? Should you buy or sell the stock As per the provisional numbers reported by Bharat Dynamics the expectations have increased for strong Q4 and FY25 Performance Bharat Dynamics Limited in its release on the exchanges had said of achieving turnover of over Rs. 3300 Cr (Provisional & Unaudited) during the FY 2024-25, against the previous year's turnover of Rs. 2369 Cr registering a record growth of around 40%. This includes FY 2024–2025's largest export sales of over Rs. 1200 Crore (Provisional & Unaudited), which is a record growth of over 640% over the previous year's export turnover of Rs. 161 Crore In the fiscal year 2024-25, Bharat Dynamics secured orders worth Rs. 6668 Crore and order book position (Provisional & Unaudited) of the company as on 01 Apr 2025 is around Rs. 22700 Crore, as per company's provisional release. Th same has improved revenue visibility and earnings outlook Despite strong gains reported by Bharat Dynamics, ICICI Securities expects more upside for the Bhaat Dynamics share price. For the Defence Sector stock ICICI Securities had given a target price of ₹ 1648 for the Bharat Dynamics share price which is now trading at ₹ 1529 levels. As per the recommendation given by ICICI Securities for the Defence Sector stock o 30 April, they expect Bharat Dynamics share price to achieve their target price in 14 days. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions First Published: 1 May 2025, 11:19 AM IST
