U.S. Consumer Sentiment Unexpectedly Edges Lower In October

Rupee trades almost flat at 75.28 against U.S. dollar in opening deals

On the domestic equity market front, the BSE Sensex was trading higher by 525.54 points or 0.86% at 61,831.49; while the broader NSE Nifty was up 166.55 points or 0.91% at 18,505.10

The Indian rupee was trading marginally lower by 2 paise at ₹75.28 against the U.S. dollar in early trade on October 18, tracking stronger greenback against key rivals overseas.

At the interbank forex market, the local unit opened on a steady note and traded cautiously between a high of ₹75.26 and a low of ₹75.29 against the American currency.

On October 14, the rupee had settled at ₹75.26 against the U.S. dollar. Forex market was closed on October 15 for ‘Dussehra’ holiday.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was up 0.17% at 94.09.

Brent crude futures, the global oil benchmark, rose 1.07% to $85.76 per barrel.

On the domestic equity market front, the BSE Sensex was trading higher by 525.54 points or 0.86% at 61,831.49; while the broader NSE Nifty was up 166.55 points or 0.91% at 18,505.10.

Foreign institutional investors remained net buyers in the capital market on October 14, as they purchased shares worth ₹1,681.60 crore, as per exchange data.

Valneva Reports Positive Topline Results From Phase 3 Trial Of COVID-19 Vaccine Candidate

Valneva SE (VALN) said its adjuvanted COVID-19 vaccine candidate, VLA2001, met both co-primary endpoints in phase 3, Cov-Compare trial. VLA2001 showed superiority against AstraZeneca’s AZD1222, in terms of geometric mean titer for neutralization antibodies, and non-inferiority in terms of seroconversion rates at two weeks after the second vaccination in adults aged 30 years and older. VLA2001 was generally well tolerated in the trial.

Valneva started rolling submission for initial approval with the UK’s Medicines and Healthcare products Regulatory Agency. The company is also preparing to begin rolling submission for conditional approval with the European Medicines Agency.

Australia’s Aristocrat Agrees On Terms To Buy Playtech For 680 Pence/share In Cash

Aristocrat Leisure Ltd. (ALL.AX, ARLUF.PK), an Australian gaming content and technology company, announced Monday an agreement on the terms of a recommended cash acquisition of Playtech Plc (PTEC.L), a gambling software development company, for 680 pence per share in cash.

The acquisition values Playtech at approximately 2.1 billion pounds on a fully diluted basis and at approximately 2.7 billion pounds on an enterprise value basis.

The per share price represents a premium of approximately 58.4 percent to the Closing Price per Playtech Share of 429.2 pence on October 15, being the latest practicable date prior to publication of the announcement.

The Playtech Directors consider the terms of the deal to be fair and reasonable. Accordingly, the Playtech Directors intend to recommend unanimously that the Shareholders vote in favour of the Scheme at the Court Meeting.

What’s on TV This Week: ‘Curb Your Enthusiasm’ and ‘Queens’

Season 11 of “Curb Your Enthusiasm” begins on HBO. And a new musical drama series debuts on ABC.

By Gabe Cohn

AstraZeneca Recommends Shareholders Reject TRC Capital’s Mini-Tender Offer – Quick Facts

AstraZeneca PLC (AZN.L,AZN) has received notification of an unsolicited mini-tender offer to holders of American Depositary Shares in AstraZeneca by TRC Capital Investment Corporation, which indicates that TRC Capital offers to purchase up to 2 million ADSs, equivalent to approximately 0.06% of the outstanding Ordinary Shares in AstraZeneca, at a price of $57.88 per ADS in cash. AstraZeneca recommended that shareholders reject the offer because the offer price is below the market price for ADSs.

Mini-tender offers are offers to purchase less than five percent of a company’s outstanding shares.

Investors using Zerodha platform may face issues in selling stocks with CDSL

CDSL has not commented on the issue

Investors of online brokerage house Zerodha on Monday said its users might face some problem while executing sell orders due to "an issue" related to depository Central Depository Services (India) Limited (CDSL).

It tweeted, "You may face an issue with authorizing the sale of your stocks due to an issue with CDSL. We are in touch with CDSL to have the issue resolved at the earliest." "You can now skip CDSL authorisation if you wish to sell your holdings on Kite until CDSL resolves the authorisation issue. Please make sure to authorise your holdings by 5 PM," Zerodha said in another tweet.

CDSL has not commented on the issue.

CDSL, which is one of the leading depositories, allows investors to deposit securities by opening an account in an electronic form (dematerialised).

U.S. Consumer Sentiment Unexpectedly Edges Lower In October

Preliminary data released by the University of Michigan on Friday unexpectedly showed a modest deterioration in U.S. consumer sentiment in the month of October.

The report showed the consumer sentiment index slipped to 71.4 in October from 72.8 in September. The dip surprised economists, who had expected the index to inch up to 73.1.

“Consumer sentiment has remained for the past three months at the lows first recorded in response to last year’s shutdown of the economy,” said Surveys of Consumers chief economist Richard Curtin.

He added, “The Delta variant, supply chain shortages, and reduced labor force participation rates will continue to dim the pace of consumer spending into 2022.”

The unexpected decrease by the headline index came as the current economic conditions index fell to 77.9 in October from 80.1 in September.

The index of consumer expectations also edged down to 67.2 in October from 68.1 in September, indicating a slightly dimmer view of the economic outlook.

With regard to inflation expectations, one-year inflation expectations rose to 4.8 percent in October from 4.6 percent in September, while five-year inflation expectations dipped to 2.8 percent from 3.0 percent.