Eni Group: The market has underestimated the impact of the Iran war on energy prices
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JPMorgan Private Bank: Without the end of the rate hike cycle, gold prices are unlikely to bottom out, and there is almost no support below $4,000.
JPMorgan Private Bank believes that before interest rates reach their peak, it will be difficult to confirm a bottom for gold prices. Thin liquidity coupled with expectations of further rate hikes this year present significant downward pressure. Chinese consumers are increasing their physical gold holdings, providing some support; however, Indian buyers are delaying festival purchases due to expectations that the price decline has not yet ended, substantially weakening demand-side support. For gold prices to regain upward momentum, multiple conditions need to coincide, including a drop in oil prices, cooling inflation, and a weaker US dollar.
JPMorgan raises the target price of VISA to $455.
Net loss narrows by 90% and North American operations turn profitable, but Stellantis (STLA.US) still struggles to relieve cash flow pressure
Stellantis (STLA.US) released its third quarter results on October 28: net revenue reached 37.611 billions euros, an increase of 1% year-on-year, surpassing the market expectation of approximately 36.4 billions euros.
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