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Seoul stocks open lower amid U.S.-Iran peace talks prospects
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Seoul stocks opened lower on Thursday amid prospects for U.S.-Iran peace talks. The KOSPI fell 80.19 points, or 1.42 percent, to 5,562.02.
Ecopetrol's board will meet on March 30 to decide if Ricardo Roa remains CEO amid judicial probes and pressure from the USO union and President Gustavo Petro. Four of nine members backed his dismissal in Tuesday's meeting, with no decision reached. The oil workers' union USO threatens strike if he is not removed.
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Indra's board meeting on Wednesday resulted in no changes to top management, with Ángel Escribano remaining president and José Vicente de los Mozos as CEO. The state-owned SEPI, holding 28% stake, did not push for alterations due to lack of support and recent stock declines. Funds like T. Rowe Price raised their stake above 5% backing Escribano.
South Korean shares opened nearly 1 percent higher Friday amid hopes the U.S.-Israel war against Iran may end sooner than expected. The benchmark KOSPI rose 0.94 percent to 5,817.11, while the won rebounded from its 17-year low.
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Indian equity benchmarks Nifty 50 and Sensex crashed more than 3% on Thursday, their steepest single-day decline since June 2024, closing at 23,002.15 and 74,207.24 respectively. Escalating West Asia conflicts drove crude above $110 a barrel, stoking inflation fears, while HDFC Bank shares tumbled over 5% following chairman Atanu Chakraborty's resignation.
The DAX gained 0.5 percent on Monday, closing at 23,564 points, despite concerns over a possible escalation in the Iran war. US President Trump demanded support from NATO partners. The German government rejects deploying warships.
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A Seeking Alpha analyst has rated PayPal Holdings (NASDAQ:PYPL) as Sell with a 12-month price target of $59. The rating cites a lack of catalysts for re-rating despite cheap valuation, driven by stagnating core revenue and aggressive buybacks. FY26 guidance anticipates EPS declines, the first since the eBay separation.
Ecopetrol shares fall nearly 5% amid uncertainty over Roa
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