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Meta Platforms Inc. is finally seeing the stock breakout that beleaguered bulls had been banking on.
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Adarx Pharmaceuticals Inc., a late-stage developer of gene therapies, raised $446.3 million in an upsized initial public offering that priced at the top of its marketed range.
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India’s market regulator will allow its $463-billion portfolio management industry to invest in overseas securities and undertake short selling in equity options for the first time as part of a massive overhaul of rules.
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US stocks rebounded from earlier losses on a report that the US and Iran were discussing a phased deal to reopen the Strait of Hormuz, pulling oil down from the peak hit earlier in the session.
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European stocks retreated for a second day as oil prices spiked and global bonds sold off, with the average yield rising to levels not seen for almost two decades.
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Subdued retail demand for the IPO and the gray market indicating a gain of about 2%-3% suggest that a blowout first-day pop is unlikely.
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The Nikkei stock benchmark gained after a three-day holiday as Tokyo’s market caught up with a global AI-led rally. Climbing bond yields and a rise in oil prices weighed on broader risk appetite, however.
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