Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money

71% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

5 Top Stories

Tata Technologies IPO; Alibaba’s Course Correction; Microsoft Board Seat

Slam Dunk IPO for Tata Technologies

The share price of Tata Technologies [TATATECH:NS] more than doubled on its trading debut Thursday, climbing as high as ₹1,400, versus an offer price of ₹500, before closing at ₹1,313. The IPO of the engineering research unit of Tata Motors [TATAMOTORS:NS] was oversubscribed 69 times and raised a total of ₹30.4bn.

Alibaba’s Rude Awakening

The Chinese e-commerce behemoth looks set to be overtaken by upstart rival PDD [PDD], owner of Temu and Pinduoduo. After more than a decade of predominance, Alibaba [BABA] was on track to close Thursday below PDD, Bloomberg reported. On Wednesday, founder Jack Ma had praised PDD in an internal company forum, and urged his company’s staff to “correct course”.

Microsoft Consolidates Influence at OpenAI

OpenAI has announced that Microsoft [MSFT] will have a non-voting seat on its board. The software giant is a leading backer of the artificial intelligence (AI) start-up, having invested $13bn in it and integrated its AI models into core products. After a tumultuous few weeks, Sam Altman has been reinstated as CEO, while Mira Murati, who briefly served as interim CEO, is once again Chief Technology Officer, and Greg Brockman is back as president.

Robinhood to Open in UK

In its international debut, Silicon Valley-headquartered Robinhood Markets [HOOD] is set to roll out commission-free stock trading in the UK. The firm will enable trading of more than 6,000 US-listed stocks as of 2024. In an interview with Bloomberg, Co-founder and CEO Vlad Tenev said: “We’d like to help lower fees for all customers in the UK, just like we did in the US back in 2019, right before Covid”.

SNOW’s Day in the Sun

Data warehousing giant Snowflake’s [SNOW] share price rose 9% Wednesday in after-hours trading, after posting third-quarter (Q3) results that beat expectations. Product revenue was the stand-out, coming in at $698.5m, up 34% year-over-year, and above analysts’ predicted $675.3m. The firm expects Q4 revenue to be between $716m and $721m.

Disclaimer Past performance is not a reliable indicator of future results.

CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.

*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.

Continue reading for FREE

Latest articles