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☆ The use cases of robotics have broadened, portfolio manager says
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe use cases of robotics have broadened, portfolio manager saysTom Riley of AXA Investment Managers says robotics used to be "very focused" on areas such as aerospace and car manufacturing, but its use case has broadened into areas like warehouse automation and food and beverage.

Persons: Tom Riley Organizations: AXA Investment Managers

☆ SocGen issues 10-mln-euro digital green bond on a public blockchain
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

A logo of French bank Societe Generale is seen on the company's skyscraper at the financial and business district of La Defense near Paris, France September 14, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Dec 4 (Reuters) - Societe Generale , France's third-biggest listed bank, said on Monday it issued its first so-called digital green bond on a public blockchain, as the lender seeks to build expertise in crypto services. AXA IM made the investment in the digital green bond by acquiring and then spending 5 million euros worth of SocGen's euro-denominated stablecoin, EUR CoinVertible (EURCV). SocGen's bond issuance, made on the Ethereum public blockchain, follows the launch last week by the European Investment Bank (EIB) of its second euro-denominated digital bond on a private blockchain, in partnership with Goldman Sachs Bank Europe, Santander and SocGen. SocGen's digital green bond issuance was made via its crypto unit, Forge.

Persons: Gonzalo Fuentes, Generali, SocGen, Blockchain, Mathieu Rosemain, Bernadette Baum Organizations: Societe Generale, La Defense, REUTERS, Rights, AXA Investment, AXA, Generali Investments, European Investment Bank, Goldman Sachs Bank Europe, SocGen, Thomson Locations: La, Paris, France, Santander

"This COP we need to see accelerated action from all parties," Matt Bell, EY Global Climate Change and Sustainability Services Leader, said. The business and finance sectors have long called for a global carbon emissions price that they say would level the playing field for polluters and make the switch to low-carbon more cost-effective. Confidence in voluntary carbon markets has fallen this year as critics question the environmental credibility of projects. "The last 10% of a (corporate) carbon reduction plan will always include some carbon removal credits," Leggett said, adding that "the market needs clarity on what that means." Reporting by Simon Jessop and Tommy Reggiori Wilkes; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Yves Herman, Matt Bell, Bell, Sultan Al Jaber, Virginie Derue, Katherine Dixon, Victoria Leggett, Leggett, Simon Jessop, Tommy Reggiori Wilkes, Barbara Lewis Organizations: REUTERS, United Nations, Sustainability Services, Reuters, ESG Research, AXA Investment, Accenture, Bain & Company, UBP, Thomson Locations: Dunkirk, France, Dubai, COP28, Paris, China, United States

A general view of the Bank of England in the City of London, Britain, September 25, 2023. In making that call the BoE report focuses mostly on consumption, which it estimates makes up about 60% of GDP. As a result, the BoE expects the fallout from rate moves to date to "grow over time" even if one-off quarterly hits have peaked. And whatever the slow-burning hit to growth and consumption, inflation surprises could well change the increasingly comfortable markets picture. BOE chart on GDP outlookBOE chart on consumption hit from rate risesReuters Graphics Reuters GraphicsThe opinions expressed here are those of the author, a columnist for Reutersby Mike Dolan X: @reutersMikeD; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

Persons: Hollie Adams, Huw Pill, what's, BoE, Modupe Adegbembo, Andy Burgess, BOE, Mike Dolan, David Evans Organizations: Bank of England, City of, REUTERS, Bank, Reuters, AXA Investment Managers, Thomson Locations: City, City of London, Britain, British

If U.S. and Chinese growth holds up, the investment landscape will need to be redrawn too. Reuters Image Acquire Licensing RightsBut what if peak bond bearishness is already upon us? As Societe Generale's Albert Edwards points out, once the quarterly deflator is factored in, nominal GDP growth in the third quarter was actually only 3.5%. Reuters Image Acquire Licensing RightsEqually, U.S. stocks look expensive if high yields start to choke the economy. Reuters Image Acquire Licensing Rights(The opinions expressed here are those of the author, a columnist for Reuters.)

Persons: Florence Lo, Societe Generale's Albert Edwards, Chris Iggo, Jamie McGeever, Chizu Organizations: REUTERS, Rights, Societe Generale's, World Bank, International Monetary Fund, of America's, HSBC, Reuters, AXA Investment, Bank of America's, Thomson Locations: Rights ORLANDO , Florida, United States, China, Atlanta, Beijing, Europe, U.S, Bank

"The recent decline in European luxury stocks reflects the uncertainty over the European economy and also the uneven growth outlook for the Chinese economy," Garnry said. Reuters GraphicsTHE LUXURY GAPAlthough luxury valuations have come down, they are still well above the rest of the market. The end of the French luxury group's 2-1/2 year-long reign was widely put down to investors losing appetite for luxury stocks as well as the growth of Novo's anti-obesity drug Wegovy. Some analysts have turned cautious on the luxury sector, with UBS last week reducing its estimates to account for the risk of slowing Chinese consumption. Gerry Fowler, head of European equity strategy and global derivative strategy at UBS, said risks in luxury stocks started to become more apparent in May.

Persons: Louis, Stephanie Lecocq, Bernard Ahkong, Peter Garnry, Garnry, LVMH, Morgan Stanley, Gerry Fowler, Bernstein, Gilles Guibout, Lucy Raitano, Mimosa Spencer, Amanda Cooper, Alexander Smith Organizations: REUTERS, Paris Fashion, U.S, UBS O'Connor Global, Alpha, Saxo Bank, Reuters Graphics, GAP, Novo Nordisk, UBS, Bank of America, AXA Investment Mangers, Thomson Locations: Paris, France, PARIS, Europe, U.S, China, United States

Yet increasingly, euro area specific factors, particularly exposure to higher oil prices, risk further weakness in an already stagnating economy, and the single currency. The euro is especially vulnerable to rising oil prices, with net imports accounting for over 90% of oil products available in the European Union. "High oil prices are weighing on the euro area's terms of trade, and if oil prices move above $100 per barrel to $110 per barrel we think it will be difficult for the euro to avoid parity," said Nomura's G10 FX strategist Jordan Rochester. But it also lifts price pressures through higher import costs, compounding the impact from higher oil prices. "Definitely the euro zone is not in a good place right now," said Moec, adding that he did not rule out a euro move to parity.

Persons: Dado Ruvic, Jordan, Nomura, Morgan Stanley, Jens Eisenschmidt, Francesco Pesole, Athanasios, Gilles Moec, Dhara Ranasinghe, Alun John, Yoruk, Christina Fincher Organizations: U.S, REUTERS, European Union, OPEC, Barclays, European Central Bank, ECB, ING, Germany, Bank of America, AXA Investment, Thomson Locations: Jordan Rochester, United States, ITALY, Italy, U.S, London, Amsterdam

☆ Keep an eye on 'blue' bonds, a little-known income alternative tied to clean water
▼ + stars: | 2023-09-04 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

"Blue" bonds, securities focused on protecting bodies of water, are popping up with increased frequency with the help of nonprofits. Earlier this month, Denmark's renewable energy producer Ørsted said it would become the first energy company to issue blue bonds. But he said there likely won't be more options until there is wider demand for those blue bonds already available. Because of this, he recommends investors look beyond blue bonds to green bonds that have some focus on water issues. The primary investment thesis behind blue bonds, Atkinson said, is understanding the risk of ignoring the need for healthy oceans and clean water.

Persons: Kris Atkinson, Nomura, Ørsted, Fidelity's Atkinson, Atkinson, Aya Kawamoto, Morgan Stanley, Simon Waever, Waever, Green, Kawamoto, We're, Michael Bloom Organizations: The World Bank, Fidelity International, Nature Conservancy, United Nations, AXA, Inter, American Development Bank, Life Insurance, Conservancy, Treasury Locations: Seychelles, Fiji, Portugal, Europe, East, Africa, Barbados, Belize, Gabon

☆ Italy slaps 40% windfall tax on bank profits
▼ + stars: | 2023-08-08 | by ( ) edition.cnn.com time to read: +1 min

European bank shares tumbled on Tuesday after Italy approved a 40% windfall tax on banks for 2023, sending shivers across the sector that has recorded surging profits as global interest rates have risen. A gauge of euro zone banks fell 3.7%, and was set for its biggest daily drop since the turmoil in the banking sector in March, when Credit Suisse collapsed. Analysts at Bank of America estimated the new tax could cost Italian banks between 2% and 9% of their earnings. For 2023 alone, Italy will tax 40% of banks’ net interest margin, a measure of income banks derive from the gap between lending and deposit rates. Proceeds from the windfall tax will be used to help mortgage holders and cut taxes, Italy’s deputy prime minister said.

Persons: shivers, Intesa, ”, Gilles Guibout, Stuart Cole Organizations: Credit Suisse, Axa Investment, Bank of America, Spain’s Banco Santander, Germany’s Deutsche Bank, DB, Reuters, Equiti Locations: Italy, Europe, Spain, Paris

☆ The U.S. economy is experiencing a 'Goldilocks scenario,' says investment management firm
▼ + stars: | 2023-07-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe U.S. economy is experiencing a 'Goldilocks scenario,' says investment management firmSimon Weston of AXA Investment Managers discusses the economic impact of interest rate hikes so far.

Persons: Simon Weston Organizations: AXA Investment

McKinsey says generative AI could add $7.3 trillion in value to the world economy each year and believes half of today's work activities could be automated between 2030 and 2060. The latest Bank of America survey in June showed 29% of global investors don't expect AI to increase profits or jobs. "There's a lot of focus on the risks that generative AI can bring. He sounded confident over the capacity of some professional information and data providers, which own proprietary data, to integrate generative AI into their products. Cristina Matti, small and midcaps portfolio manager at Amundi, said indiscriminate investing was not an option for investors seeking AI exposure.

Persons: Gilles Guibout, UK's Pearson, Chegg, Pearson, Thomas McGarrity, Andrea Scauri, Scauri, Capgemini, Cristina Matti, Danilo Masoni, Lucy Raitano, Chizu Organizations: Nvidia, McKinsey, AXA Investment, Bank of America, Microsoft, RBC Wealth Management, Accenture, Thomson Locations: MILAN, Europe, United States, Paris, Lemanik, Amundi

☆ Pro Talks: This fund manager is betting big on the aging theme, including one 'huge' opportunity
▼ + stars: | 2023-06-20 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

The world's population is getting older — and it's creating significant investment opportunities, according to Pacific Asset Management's Dani Saurymper. Join CNBC's Arabile Gumede as he discusses with Saurymper how to play the long-term aging theme on Pro Talks . Join CNBC Pro Talks on Wednesday, June 21, at 12 p.m. BST / 7 p.m. SGT / 7 a.m. Learn more from our previous Pro Talks: Tesla vs. BYD: Here's why one fund manager prefers the Buffett-backed automaker Nvidia's stock could rise fivefold in 10 years on A.I. trend, says fund manager Thinking of buying tech stocks?

Persons: Dani Saurymper, Saurymper, Goldman Sachs Organizations: Longevity, AstraZeneca, Pets, Pacific Asset Management, AXA Investment Managers, Barclays Investment Bank, Bank of America Locations: U.S, A.I

Both hiked interest rates a quarter point - but only the ECB said more was to come. Without committing to it, the Fed signalled a pause in its 13-month, five percentage point tightening campaign. Money markets do partly agree with Lagarde - seeing one more quarter point rate rise in the pipeline. They now see the so-called terminal ECB rate at 3.5% in September - still a chunky 175 bps below peak Fed rates if you assume that at 5.25%, those have now reached the end of the line. "The extent of policy tightening delivered by the ECB to date is already sufficient to cause a recession," said Fidelity International's Anna Stupnytska.

☆ Banking turmoil means recession fears are creeping back
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +5 min

Here's what some closely watched market indicators say about recession risks:1/ CRUNCH TIME? Central bankers are closely monitoring the potential for banking stress, on top of lending conditions that were already tightening, to trigger a credit crunch. European Central Bank boss Christine Lagarde has also said the market turmoil may help fight inflation. Reuters Graphics3/ BANK STOCK ROUTWorld shares down just 0.1% in March and still sitting on gains this year seem to signal little recession risk, but worries are mounting under the surface. Global bank stocks, which had outperformed the MSCI World Stock Index before the turmoil, are down nearly 15% this month (.dMIWO0BK00PUS).

REUTERS/Murad Sezer/IllustrationORLANDO, Florida, March 27 (Reuters) - The most extraordinary outcome of the March banking shock would be if the problem dissipated quickly. Many people hope the crisis of confidence infecting global banking this month can be repelled almost as quickly as it appeared. SAVINGS AND LOANS DEBACLEThe easy comparison for any banking or market turmoil is the GFC of 2007-08. But crises don't have to be equal to or worse than the world's most calamitous financial disaster in a century to be extremely damaging. But other banking crises follow the same playbook, even if their outcomes are not as extreme.

Brookfield has prevailed over other investment firms in an auction that Data4's majority owner, Axa Investment Managers, held for the company, the sources said on Friday. If negotiations and financing arrangements are concluded successfully, a deal could be announced as early as next week, the sources added. The sources cautioned that there remained a chance that no deal would be completed and asked not to be identified because the matter is confidential. Brookfield declined to comment, while representatives for Data4 and AXA Investments, a division of French insurer AXA (AXAF.PA), did not immediately respond to requests for comment. Headquartered in Paris, Data4 operates at least 25 data centers across France, Italy, Spain and Luxembourg, according to its website.

☆ Axa Investment registers as crypto service provider in France
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: 1 min

March 8 (Reuters) - French market regulator AMF said Axa Investment Managers had registered as a crypto service provider in the country, joining a list of several financial firms getting regulatory approvals to avoid service disruption in France. Apart from the French investment firm, Binance, Bitstamp, and Societe Generale have received such nods in the country. The move comes after the European Union (EU) deemed last year that cryptocurrency companies will need a license and customer safeguards to issue and sell digital tokens in the EU. Firms operating in an EU state were given until January 2024 to get a license without disruption to their service. Reporting by Lavanya Ahire in Bengaluru; editing by Uttaresh VenkateshwaranOur Standards: The Thomson Reuters Trust Principles.

☆ Macau casino stocks, bonds on a roll as Chinese visitors return
▼ + stars: | 2023-02-23 | by ( Georgina Lee | ) www.reuters.com time to read: +3 min

HONG KONG, Feb 23 (Reuters) - Chinese tourists are returning to Macau in hordes after Beijing lifted its restrictions on travel to the world's biggest gambling hub, lifting stocks and bonds of casino operators as investors bet on a boom in their revenues. The casino operators' bonds are in demand as investors look for exposure to Chinese junk debt but seek to avoid property developers' bonds. Those bonds account for a large chunk of the high-yield market and the developers' fortunes remain under a cloud after a crackdown by Beijing. Among the three U.S. casino groups that operate in Macau, CreditSights has an "outperform" rating on Wynn Macau bonds due to higher yields. Sands China's (1928.HK) 10-year bond, rated at investment grade by Moody's Investors Service and Fitch, trades at a yield of 6.59%, compared with 9.3% on Wynn Macau's bond of the same maturity.

☆ Global investors losing appetite for Chinese government bonds
▼ + stars: | 2023-02-10 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

Signs of a peak in developed market rates are another reason why China's bonds, yielding roughly 3% on 10-year investments, are less appealing, given the potential greater capital gains elsewhere. "If investors are saying that I want to trade the China recovery, the answer is not Chinese government bonds (CGBs). "China bonds served as a very good type of diversifier, in particular over the past 3 years," said Pang. But as global rates hit a peak, it made sense to plough limited cash into better yielding markets, he said. ($1 = 6.7969 Chinese yuan renminbi)Reporting by Summer Zhen Additional reporting by Rae Wee in Singapore Editing by Vidya Ranganathan and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: China's rapid reopening brings joy and woe for world markets
▼ + stars: | 2023-01-13 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +6 min

The impact of the reopening of the world's second largest economy on financial markets, hit by double-digit losses last year as inflation and interest rates jumped, is critical. Being touted among the top buying bets on recovery hopes are emerging markets, commodity currencies, oil, travel and European luxury companies. The boost to world growth from China's reopening was expected to hurt the safe-haven dollar but benefit the euro. INFLATION CAUTIONBut a boost from China's reopening raises some concerns about inflation. China is the world's leading importer of oil and many other commodities -- oil prices have risen 10% since mid-December to almost $84 .

☆ Chip stocks did badly this year — but this fund manager is still bullish, naming 2 to buy
▼ + stars: | 2022-12-30 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The PHLX Semiconductor Sector Index is down nearly 37% year to date. Producing electric vehicles, for instance, involves using a lot more semiconductors, Gleeson noted. Another semiconductor firm he likes is U.S.-based Lattice Semiconductor , which is focusing more on the autos industry. Gleeson isn't the only one who's optimistic on the chip sector. Several Wall Street pros are also urging investors to take a longer-term view on the sector , given the importance of the semiconductor chip in several key secular trends.

☆ Tech is 'down but by no means out' — watch these stocks next year, fund manager says
▼ + stars: | 2022-12-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

It's been a bad year for tech companies, as investors flee growth stocks in the face of rising interest rates and other headwinds. Growth stocks, such as Big Tech, were an investor favorite in an era of low rates. That would depend on the "data points that come through" when companies report fourth-quarter earnings in the February to March period, tech fund manager Jeremy Gleeson of AXA Investment Managers told CNBC Pro Talks last week. Nevertheless, Gleeson said tech stocks are "down but by no means out." Earnings is a key metric in the tech sector, he said, adding that he prefers firms with strong balance sheets.

While the error margins are unlikely to distort euro inflation in the long-term, economists say they could warp inflation expectations if not addressed, at a time when the European Central Bank is raising rates aggressively to tame double-digit inflation. As falling energy prices will take time to be reflected in household contracts, the current methodology will underestimate inflation when energy prices fall, CBS said. More volatility could follow when Germany introduces a cap on energy prices in March, that will also cut costs for January and February retroactively, he said. Eurostat has said that only measures that have a direct impact on energy prices, known to consumers before they purchase the energy, should reflect in inflation calculations. FEEDTHROUGH RISKSWith inflation at 10%, the calculation issues are unlikely to significantly impact the aggregate euro zone inflation print.

☆ Analysis: Italy's rates clash with ECB a sign of things to come for euro zone
▼ + stars: | 2022-12-20 | by ( Francesco Canepa | ) www.reuters.com time to read: +4 min

Summary Euro zone governments offering cost-of-living subsidiesECB has warned it won't compensate for "policy errors"Clashes seen widening beyond ItalyFRANKFURT, Dec 20 (Reuters) - Attacks by Italy's new government on the European Central Bank over its plans to raise borrowing costs may be a sign of things to come for a euro zone struggling with inflation and debt. It also showed the ECB did not fear penalising the most indebted of the 19 euro zone countries, Italy among them, which tend to see their borrowing costs rise disproportionately when credit becomes more expensive. "The ECB is clearly ready to take risks with fragmentation in the euro area," Gilles Moec, chief economist at AXA Investment Managers, said. With bigger deficits to refinance and the ECB raising interest rates while also winding down its bond purchases, markets have pushed up yields across the euro zone and particularly for the weakest borrowers, such as Italy. But the ECB has been clear it won't be used to rescue countries that have made imprudent "policy errors".

☆ CNBC Pro Talks: Fund manager Jeremy Gleeson on how to trade tech right now
▼ + stars: | 2022-12-20 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

After a tough year for tech, the sector's stocks are "down but by no means out," according to CNBC Pro Talks ' next guest. Gleeson has more than 20 years of investing experience, with a focus on the tech sector. Watch the next Pro Talks on Wednesday, Dec. 21 at 12 p.m. GMT/ 8 p.m. Singapore Time / 7 a.m. EST. Gleeson has more than 20 years of investing experience, with a focus on the tech sector. Watch the next Pro Talks on Wednesday, Dec. 21 at 12 p.m. GMT/ 8 p.m. Singapore Time / 7 a.m. EST.

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