The Pakistan Stock Exchange (PSX) exhibited positive momentum on Friday, driven by an improved economic outlook and investor interest in the government’s ongoing discussions regarding the privatisation of state-owned enterprises (SOEs). The market also drew support from bullish global equity trends and the government’s commitment to reducing power tariffs. Market Performance and Trends Trading commenced with strong buying activity, and …
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Global Companies Lower Full-Year Sales and Profit Expectations Amid Economic Challenges
Global companies are adjusting their full-year sales and profit expectations downward due to mounting challenges from higher interest rates and a weakening Chinese economy. These factors are impacting consumer sentiment and dampening the recent earnings growth that had buoyed investor optimism. Several major corporations, including McDonald’s, Nissan, Tesla, Nestlé, and Diageo, have fallen short of investor expectations. Despite approximately 40% …
Read More »McDonald’s Reports First Sales Decline in Nearly Four Years Amid Global Challenges
McDonald’s (MCD) has reported a decline in global sales for the second quarter of 2024, marking its first sales drop since late 2020. According to the company’s financial results released Monday, global comparable sales fell by 1.0%, reflecting weaker performance across all segments. Key Financial Highlights: Sales Performance: The decline in global comparable sales is the first since the fourth …
Read More »Gold Prices Rise Following International Market Increase
The international bullion market saw a rise in gold prices on Monday, with the price of gold per ounce increasing by $4 to reach $2,390. This uptick in global prices has led to a corresponding rise in local gold markets. In Pakistan, the price of 24-karat gold per tola rose by PKR 200, reaching PKR 252,700. The price of 10 …
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