Slow pace of price cuts may increase competitive intensity Kunal Vora, Head - India Equity Research BNP Paribas India has shared his views on Consumer Report June 2023: , 01:35:11 PM IST BNP Paribas Consumer Report June 2023: Slow pace of price cuts may increase competitive intensity Hong Kong benchmark Hang Seng Index was up 1.9%.Įuropean shares rose on Tuesday as miners gained after hopes of more policy support from China lifted metal prices, while shares of JD Sports dipped even after the British retailer stuck to its profit forecast.īritish equities rose at the open on Tuesday as commodity-linked stocks such as miners and energy tracked gains in oil and metal prices, while PZ Cussons fell after the soap maker issued a profit warning. tensions for any signs of easing.Ĭhina's blue-chip CSI300 Index closed up 0.9%, while the Shanghai Composite Index gained 1.2%. The broader Topix slipped 0.57%.Ĭhina and Hong Kong stocks rose, led by property shares as sentiment was lifted on fresh hopes for stimulus, while investors watched Sino-U.S. It fell as much as 1.2% earlier in the session. Japan's Nikkei share average headed for a fourth straight decline on Tuesday, as investors continued to take profits following the index's surge to a 33-year peak last week. Energy and FMCG ended in red with minor losses.Īsian stock markets were mixed Tuesday after Wall Street drifted lower following its latest rally. Thirteen of the 15 Nifty broad-based sectoral indices ended in the green with Bank, Finance and Realty indices gaining more than a per cent. Cipla, Britannia and Tata Consumers dragged in today's session as they shed a per cent each. Other major climbers were SBI, HDFC twins, Airtel and Apollo Hospitals. Aditya Birla Capital climbed as much as 2.6% on plans to raise $213 million through a share sale. The National Stock Exchange also said the expiry date for June futures and options contracts is now revised to June 28 from June 29 earlier.Īmong stocks, HDFC Life Insurance was the top gainer on the Nifty 50, rising by 5.5%. The shift in the Eid market holiday came after the government of Maharashtra state, where India's financial capital Mumbai is located, changed the date for the holiday late on Monday. The blue-chip Nifty index gained 125 pts to close at 18,817, while the S&P BSE Sensex rose 450 pts to end above 63,400, at 63,416. Indian shares inched up by around 0.7% on Tuesday, buoyed by gains in HDFC Life Insurance and Banking stocks, while the stock exchange pushed a market holiday to Thursday from Wednesday. Short interest makes up 13.9% of the stock's available float, or eight days' worth of pent-up buying power., 03:38:25 PM IST Share Market Close: Indices jump around 0.7% as Sensex closes climbs 450 pts and Nifty 120 pts most sectors close in the green Short sellers have been jumping ship, down 13.5% in the last two reporting periods, but bears are still firmly in control. Plus, just one of the nine analysts in coverage called the stock a "hold," compared to eight "buy" or better ratings. The 12-month consensus price target of $8.60 is a 152.9% premium to current levels. Credit Suisse downgraded RENT to "neutral" from "outperform." Plus, no less than seven analysts have lowered their price targets - the lowest coming from Credit Suisse down to $4 from $7.Įven more downgrades and/or price-target cuts could be on the way. The equity opened well below this recent pivot point, however, as it adds to its 39.5% year-to-date deficit.Īnalysts have swarmed the security with bear notes. Prior to today's dismal price action, RENT was on the up-and-up, bouncing off the $3.75 mark and stringing together four-consecutive daily wins. At last glance, RENT was down 30.8% at $3.41. Rent the Runway also turned in its second-quarter earnings report, and while its top and bottom lines beat expectations, the firm lowered its 2022 revenue forecast. The company expects the restructuring plan to save them between $25 and $27 million. Shares of Rent the Runway (NASDAQ:RENT) are plummeting this morning, after the e-tail concern announced it will lay off 24% of its corporate workforce amid a decline in subscribers and a shaky macro environment.
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