Thu, Nov 28, 2024 3:23 PM
PE-backed Flipspaces looking at fresh funding; eyes domestic, offshore M&As
A Flip by Shubhangi Gupta
The Indian rupee declined on November 28, almost reaching its all-time low for the week. It closed at Rs 84.4850 against the US dollar, down from Rs 84.4525 in the previous session. Last week, the rupee weakened to its all-time low of 84.5075 The major factors driving this downward move were demand for dollars to import oil.
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November was a month of clear winners and losers from Donald Trump's Nov. 5. Trump trades, essentially punishing tariff-sensitive assets from European exporters to Mexico's peso and driving investment towards U.S. stocks and the dollar, proved successful, while European exporters and Mexico's peso suffered, and warns of a potential bond market backlash and increased inflation in December.
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Peabody Energy Corp (NYSE:BTU) stock has been chopping lower since its Nov. 6 52-week high of $29.94, down 10% in just the last week. The shares could be headed for a short-term bounce, however, as the pullback has them running into a short-term "buy" signal. BTU just moved below the bottom band of its 20-day Bollinger Bands.
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