BUZZ-TSMC shares rise 3% after Elon Musk confirms TeraFab talks

October 5th - ** Ithaca Energy (ITH.L) shares rose 3% to £2.84, making it the top gainer on the London FTSE 100 Index (.FTSE) ** The oil and natural gas producer will acquire Suncor Energy's (SU.TO) Canadian offshore assets for $860 million, with a potential contingent consideration of up to $250 million depending on oil prices ** The company expects the deal to increase its 2P production to 35,000-40,000 barrels of oil equivalent per day by 2029 ** As of Friday's close, the company's stock price had risen by over 66%, compared to just 5.34% so far this year for the FTSE 100 Index. (To facilitate non-English speakers, Reuters has automated its reports into several other languages. Due to possible errors in automated translation or lack of desired context, Reuters does not guarantee the accuracy of automated translation texts, which are provided for reader convenience only. Reuters assumes no responsibility for any harm or loss caused by the use of automated translation features.)

On October 5th, consumer goods company ITC (ITC.NS) shares rose as much as 3.24%, marking the largest intraday gain in five weeks, to 264.2 rupees per share. This increase came after Citi upgraded ITC from "sell" to "buy" and raised its target price from 270 rupees to 300 rupees, suggesting a further upside of 16.7%. Citi stated that while short-term earnings may still be pressured due to a sharp hike in cigarette taxes, the stock has already declined 34% this year, factoring in the impact on related volumes and profitability. The bank added that as pricing measures gradually take effect, the profitability of the cigarette business is set to improve quarter by quarter during the 2027 fiscal year. Citi also mentioned that the earnings downgrade cycle has largely ended, and that the risk-reward ratio under the current valuation has improved. According to data compiled by LSEG, the average rating among 34 analysts tracking ITC is "buy," with a median price target of 322.5 rupees per share. So far in 2026, ITC's share price has fallen 35%, outpacing the 14.2% drop in the Nifty 50 Index .NSEI. (For the benefit of non-English speakers, Reuters has automated the translation of its reports into several other languages. Since automated translations may contain errors or lack necessary context, Reuters does not guarantee the accuracy of automated translations, which are provided for reader convenience. Reuters assumes no responsibility for any damage or loss caused by the use of automated translation functions.)