BLOOMBERG European stocks wavered amid a growing realisation that policy makers are likely to stay hawkish for the coming months. German government bonds fell as traders braced for fresh inflation data. The Stoxx Europe 600 Index erased a small gain at the open to trade little changed. Futures for the S&P 500 and Nasdaq 100 clung to modest gains after ...
Read More »Stocks
‘Rally in India’s largest consumer stocks over’
BLOOMBERG The rally in India’s largest consumer stocks has likely run its course as margins are near historical highs and the firms appear reluctant to boost investment, according to one of the nation’s biggest money managers. “We think earnings growth will disappoint,†said Anish Tawakley, who oversees about $4.8 billion as deputy equity chief investment officer at ICICI Prudential Asset ...
Read More »Yields jump as hot inflation reports embolden hawks
BLOOMBERG European stocks slipped as euro-area bond yields surged on Tuesday as hot inflation reports ramped up the stakes for the region’s central bank to battle rampant price pressures. The Stoxx 600 fell 0.3%, trimming a 1.7% gain for February, in the wake of reports that showed accelerating inflation in France and Spain. US contracts were range-bound after a solid ...
Read More »Adani stocks fall as firm starts tour to win back investors
BLOOMBERG Most Adani group stocks fell as the embattled Indian conglomerate kicked off a charm offensive with fixed-income investors in Asia, its latest effort to stem the fallout from a short-seller’s attack. All of the group’s 10 stocks dropped, led by a 10% plunge in flagship Adani Enterprises Ltd., taking its market value wipeout to about $154 billion since Hindenburg ...
Read More »Europe, US stocks push higher after Wall Street’s dismal week
BLOOMBERG European stocks and US equity futures markets pushed higher early on Monday, following Wall Street’s worst week since December that saw traders come to terms with central bank policy that may remain restrictive for longer than thought on both sides of the Atlantic. The Stoxx 600 Index rose more than 1%, with technology firms and retailers pacing gains and ...
Read More »European stocks advance, US futures down amid value hunt
Bloomberg European stocks advance, while US index futures and Asian equities fell, as investors hunted for pockets of value amid hawkish central banks, disappointing earnings and further power consolidation in China. The dollar gained before data on the Federal Reserve’s preferred inflation measure. The Stoxx Europe 600 Index climbed for a second day. Contracts on the S&P 500 and ...
Read More »Adani group all set to hold Asia fixed-income roadshow next week
Bloomberg The Adani group will hold a fixed-income investor roadshow in Asia next week as the embattled Indian conglomerate seeks to repair the damage caused by a shock short-seller report. The group will hold a roadshow in Singapore on February 27, and Hong Kong on February 28 and March 1, according to a person familiar with the matter. Among ...
Read More »US futures advance as Fed aligns with street wagers
Bloomberg US equity-index futures rose as investors grew confident the Federal Reserve’s peak interest rate would be within levels already priced in by markets. Contracts on the S&P 500 and Nasdaq 100 climbed at least 0.4% each after the underlying indexes avoided a selloff following the Fed’s minutes and remarks by officials. The dollar pared its losses and Treasuries ...
Read More »Taiwan removes short selling curbs as markets stabilise
Bloomberg Taiwan’s financial regulator has removed stock short-selling restrictions that were put in place to curb market declines during a turbulent period in the final quarter of 2022. Taiwan’s Financial Supervisory Commission in October banned shorting stocks at a price lower than the previous close if shares drop more than 3.5% the day before. The ban will be lifted ...
Read More »Techtronic slumps most since 2008 after short-seller’s report
Bloomberg Techtronic Industries Co. slumped by the most since November 2008 after short-seller Jehoshaphat Research questioned the accounting methods of the Hong Kong power-tool maker. Shares of Techtronic fell as much as 19% before trading was halted in Hong Kong. The company has been “inflating its profits dramatically for over a decade with manipulative accounting,†Jehoshaphat alleged in a ...
Read More »