Core Insights - Inbank's subsidiary AS Inbank Holdings has signed an agreement to acquire an additional 33% stake in Mobire Group OÜ, increasing its ownership to 100% [1] - The acquisition aligns with Inbank's long-term strategy in the profitable and fast-growing full-service car rental segment in the Baltics [2] - Mobire Group operates independently under its existing governance and brand, continuing to be led by CEO Andrus Valma [2][3] Company Overview - Mobire Group is the leading full-service car rental provider in the Baltics, managing a fleet of over 4,800 vehicles and reporting a consolidated turnover of €47.4 million in 2024 [4] - Inbank is a financial technology company with an EU banking license, partnering with over 5,900 merchants and managing 915,000+ active contracts across 7 European markets [5] Transaction Details - The price of the transaction has not been disclosed, and it is subject to approval from competition authorities in Estonia and Lithuania, with completion expected in Q1 2026 [3]

Sector Performance - The IT sector accounts for 9.91% of the Nifty's total weight, with Infosys at 4.53% and TCS at 2.65% [1] - Over the past year, Infosys shares have fallen 18%, while TCS has declined 27% [1] - HCL Technologies, Wipro, and Tech Mahindra have also seen declines of 16%, 16%, and 17%, respectively [1] - The power sector, with a weight of 2.27% in the Nifty, has also underperformed, with constituents like Power Grid Corporation, NTPC, and Coal India declining 19%, 17%, and 9% respectively [1] Financial Sector - Financials hold the largest weight in the Nifty at 36.33%, yielding up to 48% returns [8] - Bajaj Finance leads the financial sector, followed by SBI Life Insurance Company at 28% [8] - HDFC Bank, with a weight of 12.78%, returned 12%, while ICICI Bank and State Bank of India outperformed the index with returns of 12% and 7% respectively [8] Auto and FMCG Sectors - Tata Motors has seen a significant decline of 49%, making it the worst-performing Nifty stock, while Bajaj Auto has dropped 10% [4] - In the FMCG sector, ITC has fallen 15% and Hindustan Unilever is down nearly 3% [5] Healthcare Sector - Healthcare stocks have had mixed performance, with Sun Pharmaceuticals, Dr Reddy's Laboratories, and Cipla slipping up to 6% [6] - Conversely, Max Healthcare and Apollo Hospitals have shown positive returns, with Max up 7% and Apollo up 5% [6] Metals and Capital Goods - In the metals sector, Tata Steel, JSW Steel, Hindalco Industries, and Grasim Industries have rallied between 25% and 10%, while Adani Enterprises has declined 18% [9] - Bharat Electronics from the capital goods space has delivered a notable 43% return [10] Market Outlook - A constructive outlook for the Nifty is expected, with a potential range of 5-7% movement [11][16] - The IT sector may benefit from improving global tech spending and margin stability, while the energy sector is supported by resilient demand and easing input costs [12][16] - Renewed foreign institutional investor interest is anticipated in fundamentally strong and reasonably valued companies [13][16]

Core Insights - Global equity markets experienced significant growth in Q3, with the S&P 500 rising 8.12% for the quarter and 14.83% year-to-date, while the MSCI EAFE Index increased by 4.77% for the quarter and 25.14% year-to-date [2][3] Market Performance - The S&P 500 achieved back-to-back annual returns of 26% and 25% in 2023 and 2024, respectively, with valuation metrics like the "Buffett Indicator" and CAPE-Shiller P/E at or near record highs [2] - Non-US equities, particularly European stocks, outperformed the S&P 500 year-to-date, benefiting from a weaker US dollar and a resurgence in value recognition [3][11] Fund Performance - Tweedy, Browne Funds reported year-to-date returns ranging from 15.98% for the Value Fund to 23.17% for the International Value Fund II, with the Worldwide High Dividend Yield Value Fund outperforming its benchmark [3][5] - The International Value Fund II had a return of 23.17%, trailing its benchmark, the unhedged MSCI EAFE Index, by 197 basis points [3] Portfolio Activity - The company made strategic adjustments to its portfolio, trimming or selling holdings that reached estimated value and adding to companies perceived as attractively priced, such as Berkeley Group Holdings and Breedon Group [8] - New positions were initiated in Santec Holdings and additional investments were made in companies like Dentium and Azelis Group, reflecting a focus on growth potential and reasonable valuations [8] Outlook - The company is optimistic about the resurgence of non-US equity returns and believes its funds are well-positioned for future market conditions, whether they favor non-US equities or face broader market challenges [11]

Group 1 - Concerns over an AI bubble have resurfaced following SoftBank's $5.8 billion sale of its stake in Nvidia, impacting investor sentiment in the AI sector [3] - Asian markets showed strength as optimism grew for a resolution to the U.S. government shutdown, which may influence the Federal Reserve's policy decisions [2][5] - Goldman Sachs has revised its outlook for China's monetary policy, delaying expectations for a "dual cut" in interest rates and reserve requirements to early 2026, indicating a less dovish stance from the People's Bank of China [4] Group 2 - Oil prices remained stable near $61 a barrel as traders awaited new forecasts from OPEC and the International Energy Agency regarding potential market surpluses from rising supply [6] - The Reserve Bank of Australia's Brad Jones noted that markets are struggling to accurately price geopolitical risks, with early signs of fragmentation in central bank gold holdings [7] - Sony launched a Japan-only, region-locked PlayStation 5 Digital Edition at ¥55,000, aiming to reclaim market share from rival Nintendo [8]

Core Viewpoint - WaFd, Inc. has announced a regular quarterly cash dividend of 27 cents per share, marking its 171st consecutive quarterly cash dividend, to be paid on December 5, 2025, to shareholders of record as of November 21, 2025 [1]. Company Overview - WaFd, Inc. is the parent company of WaFd Bank, a federally insured commercial bank operating in multiple states including Washington, Oregon, Idaho, Utah, Nevada, Arizona, Texas, New Mexico, and California [1]. - Established in 1917, WaFd Bank provides a range of financial services including consumer and commercial deposit accounts, financing for small to middle-market businesses, commercial and residential real estate, and insurance products [1]. - As of September 30, 2025, the company operated 208 branches with total assets of $26.7 billion, deposits of $21.4 billion, and shareholders' equity of $3.0 billion [1].

Core Viewpoint - The U.S. Consumer Financial Protection Bureau is set to propose changes to fair-lending regulations, which are rooted in civil rights, as part of an overhaul by the Trump administration aimed at reducing perceived burdens on companies [1] Group 1 - The proposed changes will narrow a key aspect of fair-lending regulations [1] - The Trump administration argues that current protections and rules impose burdens on companies [1]

Core Insights - State Street Corporation (STT) has signed a strategic cooperation agreement with Albilad Capital to enhance securities services in Saudi Arabia, marking a significant commitment to the Kingdom's financial sector [1][11] - The partnership aligns with Saudi Arabia's Vision 2030, aiming to create a diversified economy supported by modern financial infrastructure [2][11] - The collaboration is expected to improve operational efficiency and market competitiveness while accelerating the development of Saudi Arabia's capital markets [2][11] Company Strategy and Operations - State Street has been operating in Saudi Arabia for over 25 years and established local operations in 2020, currently managing $127 billion in assets under custody and/or administration and $60 billion in assets under management in the region [4][11] - The agreement is viewed as the first step in a long-term strategic relationship, with plans to introduce additional investment services and leverage both firms' ETF capabilities to attract foreign direct investment [5][11] - The CEO of State Street emphasized the firm's intent to expand its presence and provide world-class securities services in one of the fastest-growing markets globally [6][11] Financial Performance - Over the past four years (2020-2024), State Street's revenues have experienced a compound annual growth rate of 2.7%, with a continued upward trend in the first nine months of 2025 [12] - State Street's shares have increased by 24.7% in the past six months, outperforming the industry's growth of 13.2% [15]

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RT Solana (@solana)Banking giant @SoFi just became the first regulated bank in the US to allow customers to buy Solana directly from their checking account 🤯https://t.co/Fg6MMmfwDy ...