Trending tickers: latest investor updates on Gold, Ryanair, Nvidia and AstraZeneca

A worker places blocks of 99.99 percent pure gold in a workroom of the Novosibirsk precious metals refining and production plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold has risen to a new record. (Reuters/Reuters)

Gold jumped to new record highs amid renewed hopes for rate cuts by the US Federal Reserve and rising geopolitical tensions in the Middle East.

Spot gold hit a record high of $2,453.30 (£1,931.61) an ounce shortly after Iranian President Ebrahim Raisi was killed in a helicopter crash. His death has heightened tensions in the Middle East, which analysts say increases the appeal of the metal, which is considered a safe haven in times of unrest.

Bullion has also gained momentum as traders have increased bets in recent sessions that the Federal Reserve could cut borrowing costs as early as September, a scenario that would support gold because it pays no interest.

Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: “Demand for the safe haven has soared as investors digest news of the death of Iranian President Ebrahim Raisi, believed to have been killed along with others including the Foreign Secretary. Business, was murdered. Hossein Amir-Abdollahian in a helicopter crash.

Read more: Stocks to watch this week: Nvidia, Marks & Spencer, Ryanair and UK inflation

Demand for the metal is also likely to have risen on renewed speculation that the Federal Reserve plans to cut interest rates several times this year.

“Recent data indicate that inflation remains on the right downward trajectory, and there are other signs that demand is being withdrawn from the economy, such as slowing retail sales.”

Budget airline Ryanair has reported a strong rise in full-year profits after raising fares by more than a fifth.

Profit after tax rose 34% to €1.9 billion in the 12 months to March 30, while demand rose 9% to 184 million passengers. Turnover increased by 25% to € 13.4 billion.

Chief executive Michael O’Leary said recent tariff prices were “softer” than expected and the company was taking action to stimulate demand in the first quarter of the new financial year.

He added: “We remain cautiously optimistic that peak rates for summer 2024 will be flat to modest, ahead of last summer.”

Passenger numbers also surpassed previous record highs and are now well above pre-pandemic numbers at 184 million – a 23% increase from pre-COVID 2019. Those passengers paid fares that cost an average of 21% more than the year before. until March 2023.

The airline said it expected to take delivery of 12 new Boeing 737 Max planes between March and July, but said 23 would fall short of its contract with the manufacturer after repeated safety scandals led to delivery delays .

The darling of AI and technology investors was higher in pre-market trading as the company is set to report first-quarter fiscal 2025 results on May 22.

Wall Street is betting on an explosive quarterly report from Nvidia on Wednesday, with its shares hitting near record highs as investors look for evidence that the AI ​​chipmaker can continue its explosive growth and stay ahead of the competition.

“There’s a lot riding on Nvidia’s earnings. It’s the most important stock in the industry,” Will Rhind, founder and CEO of GraniteShares, which runs an ETF investing in the chip company, told Reuters.

For the second quarter, analysts expect profit growth of more than 120% and turnover growth of almost 100%.

Read more: FTSE 100 LIVE: European markets and oil prices rise after Iranian president dies in crash

“We see ample room for NVDA to potentially reach $26 billion in Q1 (April) revenue (data center ~$22-23 billion) and potentially reach total revenue of ~$27-28 billion (data center ~ $25-26 billion) – both good In our view, this is enough to keep the stock price higher,” UBS analyst Timothy Arcuri wrote in a note to clients

The stock is up more than 86% in 2024 and more than 200% in the past year.

Shares of the drugmaker fell in London after it announced a $1.5 billion investment in a manufacturing site in Singapore dedicated to producing antibody drug conjugates, an advanced form of chemotherapy that could replace conventional treatment.

The pharmaceutical giant said the proposed site, which it hopes will emit zero carbon from day one, will begin design and construction later this year and be “operationally ready” by 2029.

CEO Pascal Soriot said Singapore is a top global investment platform with a reputation for excellence in complex manufacturing.

ADCs are specially designed antibodies that bind to tumor cells and then release cell-killing chemicals.

The complex, multi-step ADC manufacturing process involves antibody production, synthesis of the chemotherapy drug and linker, conjugation of the drug-linker, and filling of the finished ADC substance.

Look: Gold’s global rally is creating a new investor class

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