Bloomberg London is no longer home to Europe’s biggest stock market. That prize has been taken by Paris. This week on the In the City podcast, David Merritt speaks to reporter Joe Easton, who has been closely monitoring the race for months. In 2016, before the Brexit vote, British stocks were collectively worth $1.5 trillion more than France. The French ...
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Tencent to distribute $20bn stake in Meituan as dividend
Bloomberg Tencent Holdings Ltd. pledged to distribute the majority of its shares in meal delivery giant Meituan to investors, as China’s social media leader ramps up plans to reduce its extensive holdings across the world’s largest internet industry. Tencent, which had announced plans to pare its stake in online retailer JD.com Inc., will dole out more than 958 million ...
Read More »US futures, euro gain as war escalation fears ease
Bloomberg US equity futures rise in choppy trading after a rocket strike inside the Polish border reminded investors of the potential for escalation in the Russia-Ukraine war, though the euro and the Polish zloty recouped earlier knee-jerk losses. While Europe’s Stoxx 600 Index snapped a four-day rising streak, contracts on the S&P 500 traded 0.4% higher, and those on ...
Read More »Chinese stocks in US rise again on triple whammy of positives
Bloomberg Chinese stocks listed in the US were set to rise for a fourth day, as traders digested a triple-whammy of positive news that has eroded the pessimism of a few weeks ago. The KraneShares CSI China Internet Fund, an exchange-traded product holding more than 40 Chinese stocks, rose 7.4% in premarket trading, extending its 17% gain in the ...
Read More »UK stocks most disliked among investors: Survey
Bloomberg Global equity investors remain most bearish on the UK’s stocks among major markets, Bank of America Corp (BofA) said, even after a partial recovery in British assets following September’s ‘mini budget’ turmoil. A net 25% of fund managers are underweight UK stocks, according to BofA’s latest survey. While that’s an improvement from last month — which saw a ...
Read More »Warren Buffett’s Berkshire buys $4bn stake in Jefferies
Bloomberg Warren Buffett’s Berkshire Hathaway Inc. took a position in Jefferies Financial Group Inc. even as it trimmed its stake in financial stocks including US Bancorp and Bank of New York Mellon Corp. The conglomerate held more than 433,000 shares of Jefferies, the New York-based investment bank, as of September 30, according to a quarterly filing Berkshire was a ...
Read More »US futures wilt against Federal Reserve caution, rising yields
Bloomberg US stock futures declined on Monday and Treasury yields rose as a cautious tone from a Fed speaker tempered some of the ebullience that inflation may have peaked. Contracts on the tech-heavy Nasdaq 100, typically more sensitive to interest rates, slipped 0.7% while those on the S&P 500 dropped 0.4%. Losses in New York premarket trading were concentrated ...
Read More »World-beating India stocks cement haven status with new record
Bloomberg Having emerged as a safe haven amid this year’s global equity rout, Indian stocks look poised to extend their lead over world peers and finish 2022 on a high. A return of foreign investors is bolstering the market, where the benchmark S&P BSE Sensex Index rise to an all-time high as risk assets rejoiced over a softer US inflation ...
Read More »Stocks in India climb to record on robust earnings, global rally
Bloomberg Indian stocks jumped to an all-time high as strong corporate earnings and a return of foreign investors bolsters one of the world’s top-performing major markets of the year. Joining a global rally sparked by a softer-than-expected US inflation reading, the S&P BSE Sensex Index jumped 2% to close at 61,795.04 on Friday, eclipsing a previous record reached on October ...
Read More »Chinese stocks in US rise on watershed moment for Covid Zero policy
Bloomberg Chinese stocks listed in the US soared after Beijing made significant changes to the stringent Covid Zero policy that has bogged down the economy and dented appetite for the country’s equities. The KraneShares CSI China Internet Fund, an exchange-traded product holding more than 40 Chinese stocks, jumped 5.1% in premarket trading. Stocks that are most sensitive to an economic ...
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