🥊 European heavyweight knockouts

ASML and LVMH posted poor earnings, China gained from India's struggles, and a two billion year old rock | [Finimize]( [TOGETHER WITH](#) Hi {NAME}, here's what you need to know for October 17th in 2:55 minutes. - Two European heavyweights punched a hole in market sentiment - Catastrophe bonds hit a record this year, and then Hurricane Milton happened – [Read Now]( - Global investors said “goodbye” to India, and “hello again” to China 📦 Your mom might say international shipping is too expensive for a care package, but not us. Fill out this survey, and we'll send you a pair of cozy Finimize socks – no matter where you are. [Give us your thoughts]( Slipping And Sliding [Slipping And Sliding] What’s going on here? Global stocks stumbled on Wednesday as LVMH and ASML raised concerns about luxury goods and semiconductors. What does this mean? Times are tough for fashion giant LVMH and chip equipment maker ASML – Europe’s second- and third-biggest stocks, respectively. ASML forecasted a less-than-rosy 2025, hinting at potential challenges ahead for the semiconductor industry, AI aside. Its share price fell 5% on Wednesday, after suffering its biggest plunge in nearly three decades the day before. In all, the stock dropped roughly 20% in 24 hours and is down about 4% so far this year. Champagne and clothing luminary LVMH, meanwhile, reported disappointing third-quarter sales as Chinese luxury shoppers continued to keep their wallets firmly closed. Its stock fell too, by 4% – leaving it down 17% this year. Why should I care? Zooming in: Size doesn’t always mean strength. ASML said life’s looking pretty gorgeous when it comes to AI, but a bit hideous in other areas. Meanwhile, LVMH’s sales missed estimates by around 4%. Now, that’s not terrible, but it is disappointing – and it’s difficult to pin the tail on one donkey as most areas of the business struggled. These are tough pills to swallow for the stock market: both companies’ shares trade at sky-high valuations, so investors hold them to an equally lofty standard – and punish them when they fall short. The bigger picture: Welcome to hard times. ASML’s rough 2025 outlook shook semiconductor stocks around the world, including Applied Materials and Tokyo Electron. The luxury stock set, meanwhile, managed to stay mostly on its stilettos – having already weathered a pretty bumpy year. Mind you, a little wobble isn’t always a bad thing in the market: buying a quality stock on a dip can be a successful investing strategy. Be warned, though: calling the bottom is tough. You might also like: [Intel may be too important to fail – and too cheap to pass up](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Slipping And Sliding&utm_campaign=daily-global-17-10-2024&utm_source=email) TODAY'S INSIGHT How Hurricane Milton Threw A Spotlight Onto Catastrophe Bonds Reda Farran, CFA [How Hurricane Milton Threw A Spotlight Onto Catastrophe Bonds]( If you’ve been keeping up with market news lately, you’ve probably heard something about [catastrophe bonds]( and Hurricane Milton. The storm was predicted to be Florida’s worst in a century, with experts bracing for major damage – and investors [bracing for losses]( on a type of investment that’s been gaining popularity in recent years. Luckily, the weather event wasn’t as bad as expected. So now that the skies over Florida have cleared, let’s [dive into]( what those bonds are all about. That’s today’s Insight: [Hurricane Milton and the cat bond market](. [Read or listen to the Insight here]( * SPONSORED BY REVOLUT You don’t have to give up jacked-up interest rates on your savings pot You’re probably used to seeing high interest rates on your savings account by now. Problem is, plenty of banks are already skimming the top of their rates, with interest rates seemingly on their way south. But you don’t need to bid farewell to those rates: with Revolut’s Ultra card, you’ll see savings rates up to [4.75% AER](, gross variable – and that’s paid out daily. Even better, you can watch your interest roll in with a free champagne in hand: the [platinum-plated Ultra card]( gets you into those oh-so-exclusive [airport lounges](. And you’ll feel the touch of luxury in your day-to-day life, too: you’ll get discounts and subscriptions for companies like [WeWork and Deliveroo]( just for being an Ultra card member. All that, for just £540 a year. So if you want life to feel a little more luxurious, just by swiping the platinum, you can [check out the rest of Revolut Ultra’s lineup of rewards](. [Discover More]( When you support our sponsors, you support us. Thanks for that. If you want your brand featured here, [get in touch.]( One In, One Out [One In, One Out] What’s going on here? India’s stock market is losing the popularity contest as investors run to China, lured by the country’s bold new economic stimulus initiatives. What does this mean? The Indian Nifty 50 and Sensex indexes stumbled again on Wednesday. Overseas investors have sold Indian stocks every weekday this month, dumping more than $7 billion as of Monday, according to Bloomberg. That coincided with a sour corporate earnings picture from the country, which has added to investor unease. Major player Tata Consultancy Services, for one, reported slimmer-than-expected profit margins. Even Hyundai Motor India couldn’t rouse any enthusiasm from investors: its revved-up IPO struggled to get out of second gear. And with earnings reports still ahead for big firms like Infosys and Nestlé India, folks are starting to chew at their fingernails. Why should I care? Zooming in: Road to China. Foreign investors are now chasing higher returns – in China. That’s thanks to a new raft of Chinese spending measures, whose details are still on the hazy side. It remains to be seen whether that stimulus fuel will be enough to restart the country’s growth engines and speed it toward its targets. But right now, after a long stretch of being snubbed by foreign investors, China’s stocks are trading at cheap valuations and looking pretty attractive compared to India’s. The bigger picture: Support for the home team. All’s not lost for Indian stocks. India’s own still-optimistic investors have bought $7 billion of their country’s shares this month – matching those outflows dollar-for-dollar and stemming the decline. What’s more, they’ve picked them up at a better price than they’d have seen if the rally had continued unabated. You might also like: [India vs. China stocks and whether to invest in the beloved or shunned](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=One In, One Out&utm_campaign=daily-global-17-10-2024&utm_source=email) QUOTE OF THE DAY "One may walk over the highest mountain one step at a time." – Barbara Walters (an American broadcaster and journalist) [Tweet this]( A recipe for standing out from the crowd Stocks and bonds are the meat and potatoes of most people’s portfolios – but often it’s the alternative assets that make it all worthy of a chef’s kiss. And that’s where our latest panel at [the Modern Investor Summit comes in](. See, success can be just a conversation away. You’ll engage with experts giving advice on [alternative assets]( – specifically those in healthcare, renewable energy, and real estate. So Join speakers Richard Lum, managing partner and co-chief investment officer at Victory Hill Capital Partners, and Chris Ragland, CIO of 4fi. They’ll take you through how these [assets can help diversify your portfolio]( and reduce risk, key opportunities in these sectors, and what to expect from alternatives in the ever-changeable economic environment. Grab your free ticket now and you’ll also get access to the rest of our star-studded line-up at [the Modern Investor Summit](. [Grab Your Free Ticket]( 🎯 On Our Radar 1. A real star of the show. Here’s Piggy, [China’s most famous rescue swine](. 2. There’s value to be found in the NFT market. [Three key factors]( can help you separate the best deals from the rest.* 3. Art…ificial intelligence. The relationship between [creativity and AI](. 4. A golden oldie. [How to invest in one of the world's oldest investments with GoldCore.](* 5. Classic rocker. A [two-billion-year-old stone]( has been found harboring still-living microbes. When you support our sponsors, you support us. Thanks for that. 🌍 Finimize Live 🤩 Grab your tickets... All events in UK time.🇺🇸 [Pre-Election Special: What Investors Need To Know Before Voting](: 5pm, October 29th 🇺🇸 [Post-Election Special: The Landscape, Regardless Of Who Wins:]( 5pm, November 7th 🏅 [How To Tap Into Your Gold Opportunity](: 5pm, November 14th 🚀 [2024 Modern Investor Summit](: 2pm, December 3rd Thanks for reading {NAME}. If you liked today’s brief, we’d love for you to share it with a friend – here’s a link: [Share this email]( You stay classy, {NAME} 😉 Any thoughts on today’s email? [Give feedback]( Want to advertise with us? 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