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☆ Citi downgrades European stocks to neutral
▼ + stars: | 2024-06-17 | 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 EmailCiti downgrades European stocks to neutralBeata Manthey, head of European Equity Strategy at Citi Research, joins CNBC's 'The Exchange' to discuss increasing risk in Europe in the wake of EU's elections, how investors can position, and more.

Persons: Beata Manthey Organizations: Citi, Equity, Citi Research Locations: Europe

☆ Citi's top investment ideas if the ECB cuts rates as expected
▼ + stars: | 2024-06-06 | 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 EmailCiti's top investment ideas if the ECB cuts rates as expectedBeata Manthey, Global Equity Strategist at Citi, discusses how to invest as central banks around the world start cutting rates.

Persons: Beata Manthey Organizations: ECB, Global Equity, Citi

☆ Jim Cramer reviews Citi's European 'Super Seven'
▼ + stars: | 2024-03-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Friday reviewed the "Super Seven," mega cap European stocks Citi recently named as alternatives to the Magnificent Seven, but with lower valuations. "I want you to think of the Super Seven as a shopping list of high-quality European stocks that could be very attractive on a pullback," he said. Novo Nordisk " came out with the original GLP-1, diabetes and weight loss drug Ozempic. Richemont SAP Schneider Electric Eaton Ferrari"As great as the Super Seven may be, you're not exactly early to any of these stories — most of these stocks are trading at or near their all-time highs," Cramer said. "Of course, you could say the same thing about the Magnificent Seven, but it makes me a little queasy to recommend something that's already had a huge run."

Persons: CNBC's Jim Cramer, Beata Manthey, Bullish, Dior, SAP Schneider Electric Eaton, Cramer, that's Organizations: Citi, Nordisk, Givenchy, SAP Schneider Electric

☆ Citi names 'Super 7' global stocks similar to the Magnificent 7 — but cheaper
▼ + stars: | 2024-03-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Citi has identified European stocks it says are similar to the high-flying " Magnificent Seven " U.S. technology stocks, but trade at cheaper valuations leaving more room for them to rise. Citi's resulting Super Seven picks are Novo Nordisk , ASML , LVMH , SAP , Schneider Electric , Richemont and Ferrari . All of the stocks stocks also trade in the United States. Despite the rally over the past year, Citi points out that as a group, the Super Seven have lagged the Magnificent Seven, with 70% less appreciation since early 2023, leaving more upside potential. Looking ahead, Citi said the Super Seven was well positioned to continue outperforming should current "narrow" market conditions persist, and cautioned against selling stocks on the basis of a narrow market leadership.

Persons: Beata M, — CNBC's Charlotte Reed Organizations: Citi, Nvidia, Apple, Microsoft, Meta, Novo Nordisk, ASML, SAP, Schneider, Ferrari Locations: Europe, LVMH, United States

"Investors covered short positions ahead of the OPEC+ meeting amid worries over supply disruption from Kazakhstan," said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities. OPEC+ is due to hold an online ministerial meeting on Thursday to discuss 2024 production targets, after delaying the meeting from Nov. 26. The talks will be difficult and a rollover of the previous agreement is possible rather than deeper production cuts, four OPEC+ sources said. Kazakhstan's largest oilfields are cutting combined daily oil output by 56% from Nov. 27, the Kazakh energy ministry said. Meanwhile, U.S. crude oil inventories fell by 817,000 barrels last week, according to market sources citing American Petroleum Institute figures.

Persons: Turar, Hiroyuki Kikukawa, Warren Patterson, Ewa Manthey, Brent, Yuka Obayashi, Muyu Xu, Lincoln, Kim Coghill Organizations: REUTERS, Rights, Brent, . West Texas, of, Petroleum, NS, Nissan Securities, ING, Federal Reserve, American Petroleum Institute, Reuters, Weekly U.S, Thomson Locations: Mangystau, Kazakhstan, Rights TOKYO, SINGAPORE, Russia, OPEC, Kazakh

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Also weighing on prices, U.S. crude oil stocks rose by almost 12 million barrels last week, market sources said late on Tuesday, citing American Petroleum Institute figures. Data from China, the world's biggest crude oil importer, showed its total exports of goods and services contracted faster than expected, feeding worries about the energy demand outlook. Analysts from Goldman Sachs estimated seaborne net oil exports by six countries from oil producer group OPEC will remain only 600,000 bpd below April levels. The government eased restrictions on Oct. 6, allowing diesel exports by pipeline, but kept measures on gasoline exports.

Persons: Angus Mordant, Goldman Sachs, Warren Patterson, Ewa Manthey, Phil Flynn, Nikolai Shulginov, Brent, Stephanie Kelly, Paul Carsten, Muyu Xu, Marguerita Choy, David Gregorio Our Organizations: REUTERS, bbl, YORK, Brent, ING, American Petroleum Institute, U.S . Energy Information Administration, Price Futures, Goldman, OPEC, Barclays, Thomson Locations: Loving County , Texas, U.S, Russia, China, Israel, Gaza, Beijing, OPEC, Moscow

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. crude oil stocks rose by almost 12 million barrels last week, market sources said late on Tuesday, citing American Petroleum Institute figures. Data from China, the world's biggest crude oil importer, showed its total exports of goods and services contracted faster than expected, feeding worries about the energy demand outlook. Tempering supply concerns, analysts from Goldman Sachs estimated seaborne net oil exports by six countries from oil producer group OPEC will remain only 0.6 million bpd below April levels. In more bullish news for crude prices, OPEC expects the global economy to grow and drive fuel demand despite economic challenges including high inflation and interest rates.

Persons: Angus Mordant, Goldman Sachs, Warren Patterson, Ewa Manthey, Phil Flynn, Stephanie Kelly, Paul Carsten, Muyu Xu, David Goodman, David Gregorio Our Organizations: REUTERS, Brent, ING, U.S . Energy Information Administration, EIA, American Petroleum Institute, Price Futures, Goldman, OPEC, Thomson Locations: Loving County , Texas, U.S, United States, China, Israel, Gaza, Beijing

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. They were referring to an easing in tight oil supply conditions. U.S. crude oil stocks rose by almost 12 million barrels last week, market sources said late Tuesday, citing American Petroleum Institute figures. Crude oil production in the United States this year will rise by slightly less than previously expected while demand will fall, the EIA said on Tuesday. Data in China, the world's biggest crude oil importer, also raised doubts about the demand outlook.

Persons: Angus Mordant, Goldman Sachs, Warren Patterson, Ewa Manthey, Stephanie Kelly, Muyu Xu, Shri Navaratnam Organizations: REUTERS, Brent, ING, American Petroleum Institute, U.S . Energy Information Administration, EIA, Goldman, U.S ., OPEC, Thomson Locations: Loving County , Texas, U.S, United States, China

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsOct 11 (Reuters) - Oil edged higher on Wednesday as investors grappled with the prospect of supply disruptions due to the Middle East turmoil. Brent crude rose 26 cents, or 0.3%, to $87.91 a barrel by 0312 GMT. U.S. West Texas Intermediate (WTI) crude rose 17 cents, or 0.2%, to $86.14 a barrel. Israel produces very little crude oil, but markets are worried that the conflict could escalate and hurt Middle East supply, worsening an expected deficit for the rest of the year.

Persons: Agustin Marcarian, Brent, WTI, Warren Patterson, Ewa Manthey, Washington, Laura Sanicola, Muyu Xu, Leslie Adler Organizations: REUTERS, . West Texas, ING, Israel, U.S, U.S . Federal, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Brent, Gaza, Israel, Iran, Saudi Arabia, U.S ., U.S, Venezuela, Caracas

☆ The world will pay a high price if China cuts off supplies of chipmaking materials
▼ + stars: | 2023-10-11 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Last year, it accounted for 98% of the global production of gallium and 68% of refined germanium production, according to the US Geological Survey (USGS). “Refining technologies and facilities for processing gallium and germanium cannot be built overnight, particularly considering the environmental implications of their extraction and mining,” she wrote in July. Analysts from the think tank said China’s leading position in the aluminum industry has allowed it to establish a dominant share of global gallium production. According to the USGS, Russia, Japan, and Korea produced a combined 1.8% of global gallium in 2022. Last year, the US Defense logistics Agency introduced a program to recycle optical-grade germanium used in weapon systems.

Persons: Hong Kong CNN —, ”, Xiaomeng Lu, Marina Zhang, Zhang, Ewa Manthey, haven’t, Chris Miller, Gregory Allen, Nyrstar, ” Lu, Manthey Organizations: Hong Kong CNN, geotechnology, Eurasia Group, China, Geological Survey, University of Technology, “, ING Group, Center for Strategic, International Studies, Washington, Analysts, Corporation, CNN, Global, Wadhwani Center, AI, Technologies, CSIS, Rostec, Reuters, US Defense, Agency, Commerce Ministry Locations: China, Hong Kong, Beijing, United States, Europe, Japan, University of Technology Sydney, Kazakhstan, Hungary, Germany, Russia, Korea, Teck, American, Netherlands, Australia, ” Lu, Eurasia, Canada

☆ China is restricting the export of two little-known metals crucial to the semiconductor industry. It shows Beijing still holds important chips in its tech war with the West.
▼ + stars: | 2023-07-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China will restrict the exports of gallium and germanium — metals vital to chipmaking — from August 1. The export curb is seen as a retaliatory move by Beijing amid a chip war with the West. A recent move by China to restrict the export of two little-known metals has again sent the semiconductor industry into a tailspin. Exporters can apply for export licenses if they want to continue shipping the products out of China, per the notice. China accounts for about 80% and 60% of global gallium and germanium production, respectively, according to Critical Raw Materials Alliance, a European industry association.

Persons: —, Biden, Janet Yellen, haven't, Ewa Manthey, Europe — Organizations: Authorities, Morning, West, Wall Street, Eurasia Group, US, Industry, Reuters, Alliance, ING Locations: China, Beijing, Netherlands, United States, Japan, European, North America, Europe

☆ Citi says it's time to reconsider ESG, naming 3 stocks that could soar by 30%
▼ + stars: | 2023-04-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

ESG investing underperformed the broader market in 2022, but strategists at Citi think the segment could be about to rebound. Last year, the MSCI Europe Socially Responsible Investing index declined by 13.4% compared to the 8.9% fall in the broader MSCI Europe index. But Citi said ESG stocks — or those which take environmental, social, and governance factors into account — have historically shown resilience, with profit growth outpacing the broader market during earnings slowdowns. In line with this renewed focus, Citi has identified a number of stocks that it expects to rebound this year. To identify ESG stocks with "resilient" earnings per share, Citi screened the Stoxx Europe 600 index for large-cap stocks meeting several proprietary criteria, including ranking in the top 50 percentile of Truvalue Labs ESG index.

☆ As Wall Street turns bearish on the U.S., here's where the pros say to invest
▼ + stars: | 2023-04-04 | by ( Zavier Ong | ) www.cnbc.com time to read: +6 min

Within Europe, Goldman prefers companies in value sectors that pay dividends , as well as select defensive and growth stocks in the market. Emerging markets Several Wall Street analysts are putting their money on emerging markets, with most bullish on China, the world's second-largest economy. While the bank expects just 1% earnings growth for emerging market stocks, it said the sector's valuation looks attractive at a 23% discount to global peers. Philip Blancato, CEO at Ladenburg Thalmann Asset Management, is also bullish on emerging markets. He added that the case for adding to emerging market allocations is growing, particularly given the "near guarantee" of a softer dollar in the short- to medium-term.

☆ Citigroup sees global profits shrinking 5% in aftermath of banking turmoil
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +1 min

March 31 (Reuters) - Citigroup equity strategists flagged a likely 5% contraction in global profits this year as turmoil in the banking sector raises the risk of a recession. Financial markets have had a turbulent few weeks after the collapse of some mid-sized U.S. lenders and a Swiss-backed takeover of Credit Suisse spooked investors about liquidity stress in the banking sector. "Stress in the banking sector has reminded us of the consequences of monetary tightening. Going forward, we think investors' attention will increasingly shift from risks of higher rates to risks of recession," said Citi strategists led by Beata M Manthey. The ongoing confidence crisis could limit banks' risk appetite and reduce the flow of credit, they warned, downgrading the global financial sector to "neutral."

☆ Wall Street downgrades European banks and names stocks to buy 'in case markets turn sour'
▼ + stars: | 2023-03-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Wall Street is downgrading European banks after stresses in the sector led to the emergency merger of the two largest lenders in Switzerland. The bank's strategists said — in a report titled "A dozen stocks in case markets turn sour" — their list of 12 buy-rated stocks would prove resilient during broad market sell-offs. The list includes companies such as Nokia , Sodexo , and SAP among others that strategists at Deutsche Bank Research said could outperform broader markets during recessionary environments. Meanwhile, they said that Sodexo's defensive growth profile is also expected to lead to top-line growth of 8-10% this year. Deutsche strategists Maximilian Uleer and Caroline Raab added that the German tech giant SAP had finished its costly cloud investments and is now starting to see benefits from the transformation.

The index of top European banks (.SX7P) was down 1% in early trading, with German banking giants Deutsche Bank (DBKGn.DE) and Commerzbank (CBKG.DE) both falling 0.8%. The rescue of Credit Suisse, which followed the collapses of California-based Silicon Valley Bank (SVB) (SIVB.O) and New York-based Signature Bank (SBNY.O) ignited broader concerns about investors' exposure to a fragile banking sector. The decision to prioritise shareholders over Additional Tier 1 (AT1) bondholders rattled the $275 billion AT1 bond market and some Credit Suisse AT1 bondholders are seeking legal advice. "The AT1 instruments issued by Credit Suisse contractually provide that they will be completely written down in a 'viability event', in particular if extraordinary government support is granted," FINMA said. However, some watchers think the banking system is more vulnerable to rumour and rapid moves in an era of widespread social media use, posing a challenge for regulators trying to tamp down instability.

☆ Citigroup downgrades European Banks, sees STOXX 600 little changed by year-end
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +1 min

The Wall Street brokerage cut its rating on European banks (.SX7P) to "neutral" from overweight" in a note dated Wednesday, saying the likely continued monetary policy tightening adds to worries stemming from the turmoil in the global banking sector. They, instead, prefer technology stocks (.SX8P) and upgraded the sector to "overweight", citing healthy cash balances and several growth drivers. Citigroup trimmed its 2023 year-end forecast for the pan-European STOXX 600 (.STOXX) index by more than 5% to 445 points, which represents a 0.4% downside from current levels. Citi also cut its forecast for UK's FTSE 100 index (.FTSE) by 5%, now expecting the blue-chip index to end the year at 7,600 points, less than 1% higher from current levels. The STOXX has risen 5.24% so far this year, while the FTSE 100 has gained 1.54%.

☆ Oil set to end volatile 2022 with second annual gain
▼ + stars: | 2022-12-30 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana MeelCrude surged in March with international benchmark Brent reaching $139.13 a barrel, the highest since 2008, after Russia’s invasion of Ukraine upended global crude flows. U.S. crude was set to rise about 5% in 2022, following last year’s gain of 55%. “So I think oil prices may fall to $60 next year..Oil’s decline in the second half of 2022, largely on rising interest rates to fight inflation, boosted the U.S. dollar. The world’s top oil importer and second biggest consumer in 2022 posted its first drop in oil demand for years.

☆ Oil set to end turbulent 2022 modestly higher
▼ + stars: | 2022-12-30 | by ( Florence Tan | Emily Chow | ) www.reuters.com time to read: +3 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. Brent looked set to end the year with a 7.6% gain, after jumping 50.2% in 2021. So I think oil prices may fall to $60 next year,” he said. Oil prices cooled quickly in the second half this year as central banks across the world hiked interest rates to fight inflation, boosting the U.S. dollar. Also, China’s zero-COVID restrictions, which were only eased in December, squashed oil demand recovery hopes for the world’s No.

☆ Oil set to close higher in 2022, a turbulent year marked by tight supplies
▼ + stars: | 2022-12-30 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. U.S. West Intermediate crude was at $78.88 a barrel, up 48 cents, or 0.6%, after closing 0.7% lower on Thursday. Brent is set to close 2022 with a 5.76% gain after rising 50.2% in 2021. Also, China’s zero-COVID restrictions, which were only eased in December, squashed oil demand recovery hopes at the world’s No. Looking ahead on supplies, western sanctions will push Russia to divert more crude and refined products exports from Europe to Asia.

☆ Oil set to end turbulent 2022 with second annual gain
▼ + stars: | 2022-12-30 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. “Next year is set to be another year of uncertainty, with plenty of volatility.”On Friday, Brent crude was up 32 cents, or 0.4%, to $83.78 a barrel by 0915 GMT. So I think oil prices may fall to $60 next year,” he said. Oil’s fall in the second half of 2022 came as central banks hiked interest rates to fight inflation, boosting the U.S. dollar. 2 consumer in 2022 posted its first drop in oil demand for years.

☆ Days after the EU's $60/barrel price cap kicked in, oil prices slump to pre-Ukraine war levels over economic uncertainty
▼ + stars: | 2022-12-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Oil futures slumped Tuesday to levels not seen before Russia invaded Ukraine. They reduced their net long positions in Brent oil by about one-third in the week to last Tuesday. In early Asian trade on Wednesday, US WTI oil futures were down 0.3% at $74.05 a barrel, while international Brent crude oil futures were 0.1% lower at $79.29 a barrel. Oil market sentiment has been on a roller-coaster ride lately. However, the price cap on Russian crude continues to spark uncertainty in the oil markets.

☆ Another OPEC? Indonesia wants to create a cartel for battery metals
▼ + stars: | 2022-12-05 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

The nickel market is also structured very differently than the market for crude oil, with private firms rather than national companies running the show. The country now accounts for more than 38% of global refined nickel supply, according to data from market intelligence firm CRU Group. People who track the nickel market are skeptical such an arrangement is workable. But other countries that have direct access to battery metals and other important minerals also want a say. “The metals market and its importance to the energy transition is something we’re all waking up to and adapting to how it’s going to work in practice,” Bronze said.

☆ The most powerful car Mercedes has ever made set a new record around Germany's legendary race track
▼ + stars: | 2022-11-13 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

The Mercedes-AMG One is now the fastest road-legal vehicle on the legendary Nürburgring track. Just 275 Mercedes-AMG One cars will be made and are already sold out despite costing $2.6 million. A Mercedes-AMG One driven by Maro Engel zoomed round the track in just 6 minutes and 35.183 seconds, beating the previous record by a full eight seconds despite "less-than-ideal" track conditions, per Mercedes. The 1,049bhp hypercar topped speeds of 210 mph as it set the new record on October 28. The German driver added: "I didn't expect that we would be able to set such a lap time with these track conditions.

☆ U.S. companies are reshoring at a rapid pace. Here's how to play the trend
▼ + stars: | 2022-08-27 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +6 min

The reshoring trend – or companies shifting parts of their manufacturing and supply chains to different countries – has boomed over the last decade. In 2022, reshoring and foreign direct investment jobs announced coming back to the U.S. is on pace hit a record high of 348,493, according to data from the Reshoring Initiative. The trend also includes companies moving parts of their supply chains or manufacturing to different countries abroad. Investing the trend There are a few ways to play the reshoring trend as it continues to unfold. Analysts covering the space generally recommend picking up stocks in companies that stand to benefit from the trend, as opposed to companies in the reshoring process.

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