VRJAM Announces The Initial Exchange Offering Of Its Revolutionary Metaverse Currency, Vrjam Coin

 

VRJAM, the leading platform for Web3 live events, today announced the launch of its revolutionary new digital currency VRJAM Coin will IEO on the 30th of November via exchanges Gate.io and MexC. VRJAM’s and metaverse crypto-coin is currently valued at $US40M and has attracted investment from 15 of the world’s leading web3 focussed VC’s and investors.

VRJAM first came to market with an ‘alpha state’  product in 2019 and then bootstrapped the business for 4 years, producing double-digit growth year after year. The founder’s tenacious approach ultimately grew the business to become a UK market leader for immersive live events, servicing hundreds of premium content creators and brands along the way.

At the start of the month, VRJAM’s public content platform was released after 4 years of development and market validation, download the VRJAM platform app now and dive into the virtual world of 5th Dimension, or create an account on the VRJAM browser application to render a custom avatar and buy VRJAM NFT’s.

VRJAM offers a premium content platform for high quality, immersive live events that’s been built based on years of experience servicing clients like Red Bull, Glastonbury Festival’s Shangri La, Twitch (an Amazon-owned company) and even the UK Government’s Creative Industries Council.

VRJAM’s technology has also caught the attention of blue-chip tech brands including Google (VRJAM is a member of the elite Google Campus startup accelerator) and the world’s biggest game publisher Epic Games (Epic provided funding and financial support to VRJAM through the prestigious Epic Mega Grants program).

The quality of VRJAM’s native currency has been firmly validated by the investments made in the currency to date which total $US2.2M in invested capital, a list of the VCs and investors who’ve backed VRJAM Coin to date include, NGC Ventures, Sky Vision Capital, DWF Labs, EnjFi, Gate.io Ventures, Animal Concerts, AU21, Stablenode, Axia 8, Enjin, Eight Rings Ventures, Panony, TPS Capital and Oracle Investment Group.



VRJAM Coin is somewhat unique in the web3 vertical due to its focus on the consumer use case. VRJAM Coin is also intended to be used by consumers, brands, and content creators to buy and sell products, content and services inside the rich, virtual world built on the VRJAM platform.

This fact means that demand for the coin is magnified by its use by consumers and brands. By way of this extra demand, the token price is somewhat insulated from the storms of the crypto markets, offering investors a safer, more stable opportunity.

The VRJAM platform offers a wide array of use cases for its cryptocurrency including buying and selling tickets, avatars, backstage passes, premium content and virtual real estate. VRJAM’s virtual real estate model is also unique and offers a smart alternative to the traditional ‘metaverse land’ investment modelo, find out more about this on the VRJAM website.

However the most important part, of the consumer use case that VRJAM Coin addresses, is how consumer conversion from Web2 to Web3 happens. 

VRJAM’s user acquisition strategy relies on collaboration with global brands and content creators, whereby consumer audiences are offered free access to magical experiences on the VRJAM platform. By cooperating with top creators and brands to offer premium content fans can’t get anywhere else, VRJAM gains access to a powerful user acquisition strategy that turns the consumer audiences into account owners and coin holders on the VRJAM platform.

A few brands and creators VRJAM already works with to activate live events and content on the platform are Animal Concerts, Polygon Studios, Snoop Dogg, Billy Ray Cyrus & Avilla Brothers ‘Hardworking Man’ metaverse project, Roger Sanchez, Umek, DJ Craze, Jay Worra and Stanton Warriors.

This strategy is enhanced and accelerated by VRJAM’s play-to-earn rewards program, whereby over $US20M in cryptocurrency will be distributed as consumer rewards and incentives to drive adoption of VRAM’s technology.

On the 30th of November, a number of key events will combine to create a successful market entry for VRJAM Coin including; the activation of VRJAM’s NFT marketplace via the offering of a range of super rare NFTs from top-tier music artists. The launch of VRJAM’s native.staking pools including farming pools and traditional, time-locked pools to give the VRJAM community opportunities to grow their investment and the launch of VRJAM Coin on 2 of the world’s leading crypto exchanges, MexC and Gate.io.

The VRJAM Coin initial DEX offering is live now on 3 of the world’s leading IDO launchpads, Trustpad, Kommunitas and Erax. Head to one of VRJAM’s IDO launchpads to invest and join the VRJAM Community

About VRJAM

VRJAM is an award-winning real-time platform for premium virtual events and immersive social gaming.

The VRJAM platform empowers creators and brands to offer fans inspiring immersive experiences that redefine fan engagement within the Web3 environment. Over the last 3 years, the platform has empowered some of the world’s leading brands and artists to redefine fan experience in digital space including Carl Cox, Ultra Records, Twitch, Red Bull and Fatboy Slim to name a few.

These experiences are monetized using VRJAM’s native cryptocurrency, VRJAM Coin and also by way of the creation of revolutionary new types of NFT’s that are native to the virtual world of VRJAM.

The live experience features of the platform combine with elegant smart contract infrastructure and crypto native feature sets to create new ways for brands and content creators to render digital content and engage with fans.

VRJAM’s community of partners, advisors and investors includes some of the leading brands in the blockchain space including Polygon, and Gate.io as well as an array of top tier consumer brands including the world’s leading game publisher, Epic Games.

 

What Are ESG Investments? And How Do They Affect Sustainable Investing?

Sustainable investing is becoming increasingly popular as investors become more aware of the potential risks posed by companies, industries and markets that could have a negative impact on society and the environment. 

As a result of ESG (environmental, social and governance) issues now being taken into account when making investments has opened an array of new opportunities for sustainable investors.

Whether you are new to sustainable investing or simply want to expand your knowledge, this article will provide you with all the information you need to understand what ESG investments are, how they affect sustainable investing and if they are right for you.

What Are ESG Factors?

ESG is an acronym that stands for economic, social and environmental factors. 

Economic factors are related to the company’s ability to generate profits over the long term. Therefore, it is important to take into account the governance of a company, as well as its relationship with its customers, suppliers and employees. After all, companies with high economic sustainability tend to have low debt and high operating earnings, as well as low costs. 

Environmental factors are related to the impact of a company’s operations and/or products on the environment. In addition, environmental sustainability is also focused on the impact of a company’s supply chain and its use of resources. 

Social factors, on the other hand, are related to how a company treats its workforce and its relationships with suppliers and customers.

How Do ESG Factors Affect Sustainable Investing?

There are a number of different ESG factors that can pose risks to sustainable investing. Some of the most important factors include climate change, water scarcity, areas with high risk of conflict and/or terrorism, sustainability programs and initiatives, product safety, social responsibility, and supply chain management.

As the risks of an investment are higher, the return on investment is usually lower. This can make it difficult to earn a satisfactory return on investment, especially for investors who have relatively small amounts available to invest. 

Additionally, companies that have a higher risk of negative impacts may struggle to obtain financing from banks and other sources of capital. However, companies that have lowered their risks through the adoption of best-practice ESG strategies and techniques may be able to secure financing more easily. 

The best way to find companies with positive ESG practices is to perform a thorough analysis of factors that can affect sustainable investing. 

For example, a company that operates in a market that is facing a shortage of water may face problems in the future, while a company that has adopted water-saving technologies and practices may not be affected by water scarcity at all.  

In Conclusion

Sustainable investing is becoming an increasingly popular investment strategy, but it can be challenging for investors to know how to find companies with positive ESG practices. 

That said, when investing in a company with an ESG approach, you should consider its future prospects and the risks it faces. You should also evaluate whether these risks have been reduced through the adoption of best-practice ESG strategies and techniques. 

By taking these factors into account, you can find good investments that can potentially provide sustainable long-term returns and reduce risk.

ESG investing is an approach to investing in companies where the risk of negative impacts from environmental, social or governance factors has been reduced as much as possible. Sustainable investing with an ESG approach involves applying different strategies and techniques to reduce the risks from ESG factors in order to invest profitably in companies that are willing to adopt best-practice principles in these areas.

Sustainable, responsible or ESG investing is an investment strategy that considers an organization’s environmental, social and governance factors when making a financial decision. While many investors are familiar with the principles of ESG investing, not everyone understands what exactly it means to invest using these principles.

What is Thumper? Super yacht soiree welcomes NZ’s first female-owned adult entertainment agency

On a rented luxury yacht expensed to the tune of $10,000, Thumper, the first female-owned adult entertainment agency in New Zealand, celebrates its launch.

Born out of a need for protection for women in the sex work industry, the company represents ladies providing content on OnlyFans and other porn websites and offers mentoring and opportunities to better their business and “maximise their potential.”

It’s a cut-throat industry – according to Variety, OnlyFans boasts 2.16m content creators with workloads that often lead to burnout, but Thumper’s founder and one of NZ’s most successful OnlyFans content creators, Jasmin, is looking towards the future of sex work with optimism.

She’s planning a “female revolution” away from the typical “male gaze” of the sex work industry, where women can perform their jobs with safety and support and the career path itself can be seen with less stigma.

READ MORE:
* The New Zealanders who sell photos of their feet online
* The UK-born OnlyFans founder who built a porn empire
* Government’s pornography awareness ad makes waves around the world

 

“[Sex work] is such a male dominated industry … it needs a fresh perspective to destigmatise it, to show that it’s a proper job,” Jasmin says.

“Anyone should be able to say ‘I want to be in the adult entertainment industry’ without any shame. It should have the same amount of respect as any other job.”

With a guest list of friends, clients, and collaborators – all Gen Z and barely into their early 20s – the launch party for Thumper is a six-hour island cruise across the Waitemata Harbour, from a particularly posh area of Auckland’s waterfront to Motuihe Island’s beachside, where boat crew set up a water slide and a smaller boat for joyriding through the waves.

There’s also charcuterie boards and dinner service, a seemingly endless supply of free alcohol provided by ready-to-drink hard iced tea company Cheeky, and a DJ setup in the yacht’s living room area.

It’s an extravagant but purposeful affair – Jasmin, 20, has big ambitions of sweeping away the negative connotations placed upon sex workers.

“I feel like people look down at everyone in this industry as dirty and going nowhere, but look where we are, we’re on a super yacht!

“I wanted to make a statement, this isn’t a low-end thing.”

The effort to destigmatise their work also lies in their name – Thumper comes from the Disney character in Bambi, used to present their agency as playful and innocent rather than overtly sexual.

She began creating content on OnlyFans after dropping out of beauty school, and says she has found her purpose by working in the industry.

The job isn’t as simple as creating a profile and taking lingerie or nude photos, and the pressure can “make or break” those looking for their big break in sex work – Jasmin sees Thumper as a gateway for creators to succeed in the industry while also taking care of themselves.

 

“I’m self-made, I had to learn everything the hard way. I know the industry so well, and it came naturally to me – some creators who do this need a bit of support and a safety net because it’s a very risky industry.

“People say ‘anyone can do it’ – if anyone could do it, a lot more people would be joining. It’s a lot more mental effort than people play off.”

While focusing on women, the agency also works to uplift queer and non-white content creators – of the four Thumper poster girls (excluding Jasmin), one is Filipina and two are mixed-Māori and Pākehā.

Shy (Ngāpuhi) is a mixed Māori and Pākehā member of Thumper who sees her work as more artistic than sexual.

She started modelling when she was 17 and after posing a nearly nude photo on Instagram, she realised there was an audience interested in her body.

“My people used to walk around exposed, and it wasn’t a big deal, it wasn’t a tapu thing, it was just a normal thing.

“The way our body was viewed as more sacred, and I wanted to hone in on that aspect of it and express the body as what it is: just a body in all of its sacredness and all of its beauty.”

“I don’t really sexualise my body… I think everyone has the freedom to view my body how they want as well, but the narrative that I have is ‘this is normal, natural, and what makes me feel free’.”

As the luxury yacht leaves Motuihe to return to Auckland, Jasmin gives a speech to celebrate her “dreams coming true.”

“I feel so much passion for the adult industry, there’s so much more growth that can happen,” Jasmin says.

“This industry has such a bad stigma around it, and it’s not fair. Everyone that works in this industry from the models to photographers put in genuine effort, and we’re really looked down on in society.

“We are just normal people – we’re your daughters, your sisters, your girlfriends, we are amazing, loving, talented people, and we deserve respect.”

3 Trends for the Cryptocurrency Market in 2023

Three categories may be highlight of 2023 as they are focused on solving this year’s big issues

 

Guessing what trends to expect next in the crypto world is not an easy task. Therefore, today we are going to analyze the sectors that may stand out in 2023. It is important to note that this content is not a recommendation to buy or sell any cryptocurrency.

Layer 0

Indeed, this is one of the areas of greatest interest to large investors and developers.

Layer 0 solutions were developed for the blockchain market to allow the interoperability and construction of blockchains with specific characteristics without the need for a centralizing protocol.

Layer 0 solutions allow the interoperability and construction of blockchains with specific characteristics without the need for a centralizing protocol.

Furthermore, Layer 0 manages to bring security while improving the user experience in the world of smart contracts. We cannot fail to point out that by communication with different networks, the user ends up paying a lot of fees, reducing his profit on a transaction.

Despite the dramatic price drop seen on the crypto market this year, resources through the blockchain remain in high demand. If they remain the same, Layer 0 solutions will grow accordingly.
 

Benefits:

  • Reduces costs;
  • Eliminates intermediation;
  • Increases security; 
  • Complement Layer 1 and Layer 2.

Two notable examples of Layer 0 are Polkadot (DOT) and Cosmos (ATOM).

DeFi

With the bankruptcy of FTX, decentralized finance may gain even more space in 2023. Although this environment still lacks good user experience, investors who felt – and are still feeling – the ripple effects of Sam Bankman-Fried’s exchange on their loans and centralized income, may prefer to study a little more and venture into this sector.

Decentralized finance has the benefit of working through smart contracts. Developers can always audit their operations and bring information to investors if a DEX (decentralized exchange) or lending platform is working perfectly, as everything is recorded on the blockchain.

Furthermore, the fact that the user does not have to relinquish custody of their assets could be a crucial factor for more attention being focused on decentralized finance. The solutions being prepared by decentralized oracles to make DeFi even more attractive could also boost this sector in the coming year.

Benefits: 

  • Permissionless;
  • Has immutability; 
  • Much more transparent than centralized platforms; 
  • Easy access to tokenization.

Chainlink (LINK) and Uniswap (UNI) are the highlights of the DeFi sector.

Bitcoin

That’s right, the primary cryptocurrency cannot be left off of our list. When it comes to security, no blockchain asset has managed to prove such strength in this area.

The capitalization loss did not cause Bitcoin’s fundamentals to change. Miners continued validating transactions and the BTC network fee reached historic levels even as the cryptocurrency price failed to respond.

Bitcoin was the only cryptocurrency to be championed 100% by blockchain investors after the FTX collapse, and it further strengthened the sentiment of maximalism around it. True decentralization is found in BTC and, therefore, it is still a great response to all the crashes that occurred in 2022. It remains a great alternative to projects with a high degree of centralization.

Terra Classic (LUNC) and FTT are examples of what it is like to create money out of thin air and without value. Bitcoin displays exactly the opposite – money that comes from proof of work and brings with it the value of financial empowerment.

 

FTX continues to pay staff and contractors after weeks in limbo

The bankrupt cryptocurrency alternate FTX has introduced that it’ll “resume common money funds, salaries and advantages” to the remainder of its staff all over the world.

The announcement got here from FTX’s new CEO, John Ray III on November 28, when the debt solvency skilled regarded set to assist FTX and its roughly 101 associates (FTX Debtor). ) handed america Chapter Courtroom in Delaware.

“With the Courtroom’s approval of our First Day petitions and the work being executed on world money administration, I’m happy that the FTX workforce is resuming funds. common wage and money advantages for the remainder of our staff all over the world.”

“FTX can be making money funds to pick out non-U.S. distributors and repair suppliers as crucial to take care of enterprise, topic to limits accredited by the Chapter Courtroom. ,” he added.

The discover took place 10 days after FTX’s debtors filed a declare for early compensation and advantages to staff and contractors in Delaware chapter court docket on November 19, excluding funds to former FTX CEO and founder Sam Bankman-Fried, together with Gary Wang, Nishad Singh, and Caroline Ellison.

The most recent announcement signifies that the remaining FTX staff and contractors will obtain practically three weeks of pay, which was presumably halted after the corporate filed for chapter on Nov.

Ray acknowledged the monetary difficulties confronted by FTX staff and international contractors because of late funds and thanked them for his or her assist.

“We acknowledge the difficulties brought on by these short-term interruptions in funds and thank all of our valued staff and companions for his or her assist.”

The aid will embody money funds to staff at FTX Buying and selling and 101 different affiliated firms since submitting for chapter on November 11, along with many distributors and suppliers. providers nonetheless have to be paid by FTX.

Nonetheless, the resumption of funds won’t apply to all subsidiaries and associated firms of FTX.

Within the Bahamas, the place the crypto alternate’s headquarters are positioned, solely staff and contractors of FTX Debtors can get aid, not these already employed by FTX Digital Markets, which is topic to a algorithm. separate liquidation proceedings within the Bahamas.

It additionally won’t apply to the Australian-based staff and contractors of FTX Australia and its subsidiary FTX Specific, who’re additionally topic to separate Australian proceedings.

Associated: US Home of Representatives Committee units FTX listening to date for December 13

On November 22, FTX Buying and selling introduced that they’d acquired interim and ultimate approval for all “First Day” petitions for issues associated to the eleventh chapter submitting. November.

On the time, Ray stated he anticipated these actions to speed up FTX Debtor’s efforts to reimburse different stakeholders affected by the alternate’s collapse, similar to merchants. FTX customers and collectors, with the brand new CEO hinting that FTX’s skill to purchase again belongings may benefit stakeholders sooner quite than later.

Nonetheless, some chapter attorneys warn that the method might take years, even a long time, given the complexity and scope of the FTX collapse.

Chapter lawyer Stephen Earel, companion at Co Cordis in Australia just lately informed Cointelegraph that the courts will take years, if not a long time, to find out who owns which crypto belongings. earlier than developing with a plan to redistribute these funds.

FTX Buying and selling alone owes its high 50 collectors $3.1 billion, in line with a doc filed as a part of Chapter 11 chapter proceedings.

Miami nightclub owners mourn loss of ‘crypto nerds’ after FTX collapse

Nerdy crypto entrepreneurs who spent big at Miami nightclubs, showering patrons with cash as they ordered “bathtubs of champagne” and sang with rappers like 50 Cent, have gone quiet, South Florida venue owners said.

The sudden collapse of the cryptocurrency exchange FTX and the plummeting value of digital coins has Miami nightclub owners pining for the days when young entrepreneurs flocked to venues such as E11even and its neon lights, trapeze dancers and burlesque shows.

“They were ordering 12 or 24 bottles of the most expensive champagne and just showering themselves without even drinking,” Andrea Vimercati, the director of food and beverage at Moxy Hotel group, told the Financial Times. “[The crypto entrepreneurs] wanted to show that they didn’t have any limits.”

Vimercati recalled that the crypto boom of a year ago prompted a wave of predominantly young men awash in money to flaunt their newfound wealth in Miami.

“Out of the blue, all these kids from crypto started coming down and spending a lot of money — like, an insane amount of money,” he said.

“They were booking tables for $50,000, and it was like, ‘Who the hell are these people’?”

Vimercati described the crowd as “95% men, young…with a kind of nerdy style.”

“You couldn’t tell they had a lot of money if they were just walking around,” he said.

Gino LoPinto, operating partner at the Miami hotspot E11even, told FT that a group of crypto businessmen came into the club in June of last year to celebrate what they claimed was the successful sale of their company.

“50 Cent was performing, and their spend was more than a million dollars,” LoPinto told FT. “They paid in crypto.”

LoPinto added: “They had bathtubs of champagne brought out, and gave 50 Cent a bunch of cash to throw.”

In April of last year, E11even started accepting cryptocurrency payments. LoPinto said that the club processed $6 million worth of transactions between April and December of last year.

In the last three months, however, the club has taken in just $10,000.

LoPinto said that crypto entrepreneurs would brag about their wealth by showing each other their digital wallets.

“You wouldn’t normally show your bank account, but people do show their crypto wallets,” he said.

“I’ve seen more crypto wallets in a year than I’ve seen bank accounts in a lifetime.”

In the year since, the crypto partiers aren’t calling. Instead, they’re licking their wounds alongside an entire industry that has been rocked by the implosion of FTX, the exchange founded by the disgraced Sam Bankman-Fried.

FTX filed for Chapter 11 bankruptcy protection earlier this month after it was learned that Bankman-Fried was using customer funds to place risky bets through sister firm Alameda Research.

The collapse of FTX was shocking given that the company, whose roster of celebrity endorsers included Tom Brady, Gisele Bündchen, Larry David, Steph Curry, and others, was at one point worth some $32 billion.

BlockFi, another crypto firm that was in talks to be acquired by FTX, filed for Chapter 11 in federal bankruptcy court in New Jersey on Monday.

The news sent the value of the overwhelming majority of cryptocurrencies down. As of 11:19 a.m. Eastern time, bitcoin was down nearly 3% while ethereum was down more than 4.8%.

 

 

BlockFi files for bankruptcy as contagion grips crypto markets

 

Crypto lender BlockFi filed for bankruptcy Monday, becoming the newest casualty of the monetary contagion unleashed by the collapse of Sam Bankman-Fried’s empire.

BlockFi announced earlier this month that it had halted withdrawals, citing “significant exposure” to Bankman-Fried’s FTX exchange, as nicely as its sister hedge fund Alameda. FTX, Alameda and dozens of affiliates filed for bankruptcy on November 11.

“Since the pause, our group has explored every single strategic alternative and option obtainable to us, and has remained laser-focused on our principal objective of performing the ideal we can for our consumers,” the organization stated in a statement.

Shortly following filing for Chapter 11, BlockFi filed a lawsuit against Bankman-Fried’s Emergent Fidelity Technologies automobile, demanding he turn more than collateral that BlockFi claims it is owed. That collateral, according to the Monetary Instances, is Bankman-Fried’s 7.six% stake in on-line trading app Robinhood.

The privately held firm, founded in 2017 by Zac Prince and Flori Marquez, produced loans to buyers applying crypto assets as collateral.

In its bankruptcy filing, BlockFi stated it owed dollars to far more than one hundred,000 creditors. The biggest creditor listed is Ankura Trust, a organization that represents creditors in stressed circumstances, which is owed $729 million. FTX, BlockFi’s second-biggest creditor, is owed $275 million.

BlockFi has about $257 million in money on hand, and the organization expects that will present adequate liquidity to help it for the duration of restructuring. The organization estimates it has among $1 billion and $ten billion in assets and liabilities, according to the filing.

Aspect of that restructuring will include things like layoffs. It wasn’t quickly clear how lots of personnel would be let go, but the organization stated it had “initiated an internal strategy to significantly lower expenditures, like labor charges.” A representative from BlockFi didn’t quickly respond to requests for comment about staffing.

The New Jersey-primarily based organization was one particular of many that received monetary help from Bankman-Fried more than the summer season, as falling crypto costs threatened to take down important players in the digital asset ecosystem. In July, BlockFi secured a $400 million monetary lifeline from FTX.

The fallout from FTX’s decline is ricocheting all through the crypto sector.

“BlockFi’s Chapter 11 restructuring underscores considerable asset contagion dangers linked with the crypto ecosystem,” stated Monsur Hussain, senior director at Fitch Ratings. “Restructuring processes can be notoriously lengthy,” he added, noting that creditors involved in Mt. Gox — a bitcoin exchange that went bankrupt in 2014 — “are only receiving closer to getting paid eight years following the operation failed.”

Quickly following FTX’s collapse, the lending arm of crypto brokerage Genesis suspended redemptions and new loan originations following an “abnormal” quantity of withdrawal requests that exceeded its present liquidity, citing market place turmoil from the failure of FTX.

“In the crypto globe, the minute you see a organization or firm announce ‘we’re temporarily halting withdrawals’ — yikes,” stated Daniel Roberts, editor-in-chief of Decrypt Media, a crypto-focused news outlet. “You place them on death watch now.”

A single of Genesis’ partners, Gemini — the crypto firm founded by Tyler and Cameron Winklevoss — quickly followed, warning buyers that redemptions beneath its Earn system would be delayed. Gemini stated at the time that it was operating with Genesis to assistance buyers redeem funds from the system, which permitted buyers to earn interest on crypto holdings. No other Gemini items or solutions have been impacted, the organization stated.

FTX started unraveling in early November, when inquiries about its connection with Alameda spurred panic amongst investors. A surge of withdrawals plunged FTX into a liquidity crisis that in the end triggered it to flame out. Due to the fact then, bankruptcy proceedings have revealed beautiful proof of corporate mismanagement — a “complete failure of corporate controls,” according to FTX’s new CEO, that eclipses even that of Enron.

UPDATE 2-Europe’s STOXX 600 logs sixth straight week of gains – Yahoo Finance

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)
*
Real estate stocks tumble
*
Retail stocks dip on Black Friday
*
German economy grows more than expected in Q3
(Updates to close)
By Sruthi Shankar and Devik Jain
Nov 25 (Reuters) –
Europe's STOXX 600 index closed flat on Friday, for its sixth straight weekly gain, as hopes of slowing interest rate hikes offset a real estate sector sell-off and retailers were hurt by fears of a bumpy holiday shopping season.
The pan-European stock index hit a more than three-month high earlier this week.
Europe's retail index fell 0.6% on Black Friday, which kicks off the shopping season, against the backdrop of a worsening cost-of-living crisis and distraction of the soccer World Cup. The index is among the worst-performing sectors in Europe, with a 32% drop so far this year.
Real estate stocks slid 0.9%, after driving a market rally the previous session. UK housing stocks led the declines as a survey showed rental home demand in Britain rose in October as prospective first-time buyers put off purchases.
Still, the benchmark STOXX 600 gained 1.7% this week on signs that the U.S. Federal Reserve could slow its interest-rate hikes and corporate earnings have turned out better than expected this season.
The index has rallied more than 15% since hitting a trough in late September, slightly outperforming a 13% climb in the S&P 500 from its October lows.
"As we are about to enter 2023 and transition from inflation to disinflation, we think equities should face less pressure from the rates markets," Emmanuel Cau, European equity strategist at Barclays, wrote in a note.
"However, we caution against extrapolating the recent risk-on into the new year, amid a still unfavourable growth-policy trade-off and toppish market technicals."
Investors on Thursday largely looked past minutes of the European Central Bank's October meeting that showed policymakers feared inflation may be getting entrenched and so rates would need to rise further.
Data on Friday showed the German economy grew slightly more in the third quarter than preliminary figures had suggested, bolstered by consumer spending.
Among individual stocks, Credit Suisse slid 6.6% to a record low in the wake of capital raise plans and a weak earnings report released this week.
Rockwool gained 4% after Morgan Stanley raised its price target on the Danish stone-wool manufacturer's stock.
Elia Group added 4% after the Belgian grid operator raised its 2022 outlook and announced a five-year capex plan. (Reporting by Sruthi Shankar and Devik Jain in Bengaluru; Editing by Savio D'Souza, Arun Koyyur and Richard Chang)
Related Quotes
Investors looking for a guiding hand to steer them safely through the current hazardous stock market landscape could do worse than listen to what billionaire Ken Fisher has to say. The Fisher Investments founder famously started his independent money management firm with $250 in 1979, a company that is now a $197-plus billion going concern, while Fisher’s own net worth stands north of $5 billion. So, for those getting restless from 2022’s unrelenting bear, Fisher has some very simple advice: "Th
With a yield of 9.62%, the recently expired Series I bond was understandably popular. With interest rates rising, bond funds are down this year and banks continue to offer miserly rates on deposit accounts. So it's no wonder that a … Continue reading → The post It Pays to Procrastinate: The New 6.89% I bonds Will Beat the Old 9.62% Bonds in Just 4 Years appeared first on SmartAsset Blog.
Cathie Wood makes big bets on potential huge winners. But Ark Invest's top 10 holdings, including Tesla and Roku, have tumbled in 2022.
Energy is everywhere, in everything we do; we can’t avoid it. The sheer ubiquity of the sector is one major factor drawing investors to it. After all, energy companies will always be able to find customers for their products, and will never lack for sales. Energy companies have also been seen as a hedge against inflation. The energy sector has been riding high this year, with the S&P 500 energy index up 61% year-to-date. So the question for investors is, do energy stocks have more room to run? A
Shares of Israeli container shipping company ZIM Integrated Shipping Services (NYSE: ZIM) tumbled 3.4% through 11:05 a.m. EST Monday — and it's no huge secret why. Across the shipping world, stocks including ZIM, Costamere, and Danaos Corporation are all sliding today. As multiple media outlets have reported, protests against a government "zero-Covid" policy are spreading across China, threatening both the ruling regime's stability, the country's economy, and its ability to produce products that would need container shipping services to reach foreign markets.
Shares of leading semiconductor companies Taiwan Semiconductor Manufacturing (NYSE: TSM), Intel (NASDAQ: INTC), and Qualcomm (NASDAQ: QCOM) all fell today, declining 2.9%, 2.6%, and 3.6%, respectively, as of 3:37 p.m. ET. First, widespread protests in China over COVID-19 restrictions erupted this past weekend, putting pressure on any stock with exposure to China or products made there. Second, a report from a leading tech industry research company predicted a bigger decline in overall semiconductor revenue next year than it had forecast just four months ago.
Dow Jones futures were higher ahead of Tuesday's open after the Dow Jones Industrial Average sold off nearly 500 points Monday.
In this article, we will discuss the best dividend stocks according to hedge funds with over 5% yield. You can skip our detailed analysis of dividend stocks and their performance over the years, and go directly to read 5 Best 5% Dividend Stocks To Buy According To Hedge Funds. The current stock market situation has […]
Income investors dream of buying stocks whose companies have solid business models and fundamentals, but because of temporary market conditions, the shares have ultra-high yields. When markets sell off as a whole those dreams may come true, but other times dreams turn into nightmares if poor earnings cause dividends to be cut and share prices to tumble even further. Take a look at three real estate investment trusts (REITs) with massive dividend yields and decipher whether they are likely to rew
Verizon (NYSE: VZ) pays a strong dividend that attracts income investors. That said, those investors will want to know how sustainable the 5G company's nearly 7% dividend yield is for the long term. *Stock prices used were the afternoon prices of Nov.
In this article, we discuss the top 10 stock picks from Louis Navellier. If you want to see more stocks in this selection, check out Louis Navellier’s Top 5 Stock Picks for Q4 2022. Louis Navellier, the author of a BusinessWeek best-seller, “The Little Book That Makes You Rich”, is the founder and chairman of […]
The abrupt and rapid collapse of the FTX cryptocurrency exchange has caused a shock in the crypto space. The fall, in a few days, of a company valued at $32 billion in February, ended up casting suspicion on the entire young industry of financial services, based on the Blockchain technology. Retail investors have fled, while institutional investors, linked to FTX and its sister company Alameda Research, are still determining their losses from their exposure to Sam Bankman-Fried's empire.
National Grid has narrowly avoided activating its emergency blackout plan for the first time this winter as low wind speeds and nuclear outages push supply closer to the danger zone.
(Bloomberg) — Bulls getting comfortable with Federal Reserve rate-hike policy have another threat to contend with, one that a team at Morgan Stanley says has the potential to send stocks to fresh lows.Most Read from BloombergApple to Lose 6 Million iPhone Pros From Tumult at China PlantNext Covid-19 Strain May be More Dangerous, Lab Study ShowsThere’s a Job-Market Riddle at the Heart of the Next RecessionStocks Hit by Fedspeak as China Woes Boost Havens: Markets WrapIt’s the unwinding of a deca
Several headwinds that pummeled the stock market in 2022 have turned into tailwinds, setting the stage for a rally in U.S. equities heading into year-end, according to Tom Lee of Fundstrat Global Advisors.
Deutsche Bank researchers are the latest analysts to put a 25% decline in equities on the map, and they expect the U.S. to go into a recession by mid-2023.
The FTX bankruptcy has hurt many stocks in the crypto space, creating buying opportunities for those who are brave enough.
Although AMD (NASDAQ: AMD) and Nvidia (NASDAQ: NVDA) have different product lines, they still compete against each other in some offerings. As a result, the two are often compared, with Nvidia often coming out as the better company up until a few months ago. Now, the conversation has switched as Nvidia's execution has been disappointing over the past few quarters.
The tech investor’s Valar Ventures had a 19% stake in the crypto lender, according to documents filed with the bankruptcy court.
(Bloomberg) — Federal Reserve policymakers stressed on Monday that they will raise borrowing costs further to curb inflation, with one key official saying that he sees interest rates heading somewhat higher than he had forecast just a couple of months ago.Most Read from BloombergApple to Lose 6 Million iPhone Pros From Tumult at China PlantNext Covid-19 Strain May be More Dangerous, Lab Study ShowsThere’s a Job-Market Riddle at the Heart of the Next RecessionStocks Hit by Fedspeak as China Woes