In today’s briefing:
- Opportunity Within Europe and Japan; EURO STOXX 50 and TOPIX/Nikkei 225 Near Major Breakouts
- Yibin Bank (2596 HK): 100% IPO Float Fails to Secure Global Index Inclusion
- Upstart Holdings Inc. Breaks Barriers with High-Tech Automation for Explosive Efficiency Gains! – Major Drivers
Opportunity Within Europe and Japan; EURO STOXX 50 and TOPIX/Nikkei 225 Near Major Breakouts
- Our bullish outlook on global equities (MSCI ACWI) remains intact. Actionable Themes today include Financials, Energy, and Consumer Discretionary (European Luxury Retailers)
- We view this pullback as a buying opportunity and we are watching for $116-$117 support to hold on ACWI-US; this is an important resistance-turned-support level dating back to July 2024.
- Europe and Japan are on the cusp of major breakouts above critical resistance levels of 5000-5120 on the EURO STOXX 50 and 2740-2820 on the TOPIX
Yibin Bank (2596 HK): 100% IPO Float Fails to Secure Global Index Inclusion
- Yibin City Commercial Bank Co Ltd (2596 HK) is scheduled to debut on the HKEX on 13 January 2025 at a market capitalization of ~$1.6bn.
- The IPO free float is 100% as the offered shares represent all the listed shares. However, the significant amount of unlisted shares result in a low fcap.
- The security can be added at the June 2025 review if the stock price mimics the IPO debut of Bloks (325 HK) and surges by ~84%.
Upstart Holdings Inc. Breaks Barriers with High-Tech Automation for Explosive Efficiency Gains! – Major Drivers
- Upstart Holdings, Inc., a company at the forefront of fintech innovation using artificial intelligence, has reported its third quarter financial results for 2024.
- The company showcased significant developments while balancing both growth potentials and present challenges.
- Positively, Upstart demonstrated substantial growth momentum, with a reported 43% sequential growth in lending volume and a return to positive adjusted EBITDA, reaching this milestone a quarter ahead of schedule.
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