46m ago
Sensex, Nifty seen opening lower as Gift Nifty points to a cautious start at 24,095
Risk sentiment weakened across global markets, with Asia-Pacific equities sliding sharply as Japan’s Nikkei 225 fell more than 3% and South Korea’s Kospi dropped over 6% in early trade. In India, Gift Nifty at 24,095 signaled a slightly negative start for domestic benchmarks. The IMF warned that prolonged instability in the Middle East could threaten global energy supplies and economic growth, keeping investors cautious amid elevated crude prices.
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51m ago
South Korea’s Kospi sinks 7.3% as AI chip valuation fears spark Asia semiconductor selloff
South Korea’s Kospi index fell 7.3% in a single session, marking one of its steepest drops in years, as rising concerns over AI-semiconductor valuations hit the sector and dragged shares of SK Hynix and Samsung Electronics lower. Korea’s financial regulator is set to announce measures addressing controversy around leveraged ETFs linked to chipmakers. Separately, Brent crude climbed to $85.50 a barrel after the US launched a new round of airstrikes on Iran, intensifying risk-off sentiment on renewed worries about energy supplies.
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51m ago
1h ago
Incyte set to report Q2 2026 results on Jul. 28, analysts see EPS of $1.61
Incyte (INCY) is scheduled to release its fiscal Q2 2026 earnings before the market opens on Jul. 28, 2026. Analysts expect earnings of $1.61 per share, up 22.9% year over year. The company has beaten Wall Street EPS estimates in three of the past four quarters, including Q1 results showing adjusted EPS of $1.81 on $1.27 billion in revenue, with Jakafi net sales rising 7% to $757.8 million. Opzelura sales of $143 million rose 20% year over year but missed expectations, while Incyte reaffirmed its full-year revenue guidance of $4.77 billion–$4.94 billion.
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AMP flags A$170–A$180 million first-half FY2024 underlying net profit, shares hit A$1.89
AMP Ltd (ASX: AMP) issued a positive earnings outlook, forecasting FY2024 first-half underlying net profit of A$170–A$180 million, about 30% higher year on year. The company attributed the upgrade to a stronger contribution from its China business, improved investment income, and a one-off A$13 million carried-interest payment. AMP said it has completed a A$150 million share buyback and reiterated its commitment to returning capital. The update pushed the stock to an intraday high of A$1.89 before it closed at A$1.76, up 2%, ahead of its August 6 half-year results release.
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Asian shares slide as Kospi drops over 6%, Brent extends rally above $85 a barrel
Asian equities fell, led by a drop of more than 6% in South Korea’s Kospi and a decline of over 3% in Japan’s Nikkei 225, while MSCI’s Asia Pacific index slipped 1.7%. SK Hynix Inc sank more than 8.4%, weighing on semiconductor stocks. Brent crude rose for a fourth straight session to above $85 a barrel after the U.S. renewed strikes on Iran, fueling concerns over supply disruption in West Asia. Australian and New Zealand government bonds opened higher as inflation reports cooled expectations for near-term Fed hikes, though rising Persian Gulf tensions dominated sentiment.
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Liberty Bell Bay manganese smelter to shut immediately after sale collapses
Australia’s last manganese smelter, Liberty Bell Bay in Tasmania, will close immediately after a proposed sale collapsed this week. The plant entered voluntary administration in March and administrators said in May a consortium had agreed to acquire the business. One of the deal’s main financial backers withdrew last month and the transaction was ultimately abandoned. The smelter employs more than 200 workers, and its closure leaves Australia with no domestic manganese metal capacity.
2h ago