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LONDON, Nov 28 (Reuters) - Paris' luxury-laden stock exchange is now worth more than London's. France's CAC All Shares index (.PAX) is now worth almost $3 trillion, making it Europe's largest stock market by value thanks to demand for its luxury-retailer blue chips. Reuters GraphicsFUND FLOWSSo far in 2022, funds investing in UK stocks have seen record outflows of 23 billion euros, according to Refinitiv Lipper, up from almost 18 billion euros last year and the 14.6 billion euros shed in 2016, when Britain voted to leave the European Union. Annual outflows from French equity funds are much smaller - at 2 billion euros this year. FX MATTERSIt's also worth noting that currency comes into play when measuring the size of London's market against Paris' in dollar terms.
A wave of unrest in China could spell trouble for investors holding stocks with sizeable chunks of revenue exposed to the country. Protests erupted across China over the weekend as citizens pushed back against the country's strict and prolonged zero-Covid protocols . Here are some of the stocks we found: Tesla is the largest company on the list by market capitalization, with more than a quarter of its revenues exposed to China. Another stock in our screen is elevator manufacturer Otis Worldwide , with a little over 20% of revenues exposed to the country. Many semiconductor stocks such as Intel , Nvidia and Advanced Micro Devices also made the list — including Qualcomm , with the highest revenue exposure to China on the list.
It hasn't been the best week for the broader market. Several retail stocks bucked the overall market trend, however, on the back of strong quarterly reports. Other retail stocks were also on pace to cap off a positive week. To be sure, not all retailers triumphed during this busy earnings week for the sector. While several retail stocks took top spots in this week's screen, the list offered some variety.
Morgan Stanley named exchange operator Cboe Global Markets a top pick, noting the stock would benefit from the volatility that typically accompanies the final months of a bear market. "We see Cboe as a defensive beneficiary against a more challenging macro backdrop as elevated market volatility should support the outlook for trading volumes," he said in a note to clients. He pointed to data showing S & P 500 options and total index options were up 88% and 75%, respectively, in October compared to the prior year. To be sure, he said the company's performance could be impacted if market volatility is meaningfully different than what is expected or if there are notable changes to the market that change investor strategy away from short-term movements. "The index options franchise continues to benefit from increased engagement, elevated volatility, and new product innovations that drive volumes to new records," he said.
NEW YORK, Nov 15 (Reuters) - The U.S. Securities and Exchange Commission on Tuesday delayed a decision on whether to allow a spot bitcoin exchange-traded fund by stock-picker Cathie Wood's Ark Invest and crypto investment product firm 21Shares US to list and trade on Cboe Global Markets (CBOE.Z) until Jan. 27. The delayed decision on the ARK 21Shares Bitcoin ETF follows a series of rejections this year by the market regulator on ETFs that track bitcoin, including proposals from Grayscale, Fidelity, and NYDIG. Reporting by John McCrank; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.
Nov 4 (Reuters) - Exchange operator Cboe Global Markets Inc (CBOE.Z) reported a rise in its third-quarter earnings on Friday, bolstered by higher clearing fees as trading volumes swelled due to investors rejigging portfolios to hedge against risk from frequent price swings. Its exchanges have also benefited from the resulting price volatility driving up trading volumes across asset classes. Transaction and clearing fees, the largest component of its revenue, rose 13% to $715.5 million. The results round out an upbeat quarter for U.S. exchange operators including Nasdaq Inc (NDAQ.O) and NYSE parent Intercontinental Exchange (ICE.N) who benefited from strong trading volumes and robust demand for hedging tools and investment products. Total revenue in the quarter rose nearly 22% to $993.5 million.
Morning Bid: Laboring markets get China fillip
  + stars: | 2022-11-04 | by ( ) www.reuters.com   time to read: +4 min
A look at the day ahead in U.S. and global markets from Mike Dolan. With one eye on the U.S. employment report at the end of a dour week of rising interest rates, world markets were spurred by another slightly mysterious Chinese stock surge. None of these reports have yet been confirmed, but some former officials appeared to encourage the speculation on Friday. The Shanghai Composite (.SSEC) rose 2.7% and was headed for a 5.6% weekly gain, the largest in more than two years. U.S. stock futures were up marginally ahead of the open, however, after another round of heavy index losses on rising interest rate fears on Thursday.
The major indexes all posted gains this week despite a Big Tech beatdown, proving the market can rally without its most valuable stocks. Indeed strength in other sectors — only communication services finished down — helped the overall market to shrug off disappointing earnings results from Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN) and Meta Platforms (META). Alphabet's results fell short of the Street's expectations, but still managed to grow revenue 6% annually off a $65 billion base. (Canada's central bank hiked rates less than expected this week, opting for a 50 basis point hike instead of the expected 75.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
The coming week is also the busiest of the corporate earnings season, with about a third of the S & P 500 companies releasing results. "Historically, the market waits for the last Fed rate hike to be introduced and then the market climbs higher. The S & P 500 was up more than 8.8% for the month. The Dow was up 5.7% on the week, the S & P 500 was up 5.7% and the Nasdaq was up 2.2%. The 50-day moving average is 3,841 for the S & P 500, and it was well above it Friday afternoon for the second time in the past week.
Oct 18 (Reuters) - Heightened market volatility could prove to be a boon for U.S. exchange operators as higher trading volumes during their third quarter help offset a hit from fewer stock listings so far this year. "Counter-cyclical nature of exchange business models reduces their downside risk during market turmoil relative to peer financial sector companies and the broader market," said Gautam Sawant, CFA, Credit Suisse. Register now for FREE unlimited access to Reuters.com Register"Exchanges remain well-positioned to grow earnings into 2023." Besides the mainstay trading business, exchange operators offer a suite of tools for investors. New York Stock Exchange-owner Intercontinental Exchange Inc (<ICE.N>) provides mortgage servicing through Ellie Mae, while rival Nasdaq Inc offers indexes and analytics.
The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. It said Market Platforms, Capital Access Platforms and Anti-Financial Crime will be the new units that will focus on digital assets, carbon markets, providing investment intelligence apart from U.S. equities. Register now for FREE unlimited access to Reuters.com RegisterNasdaq's efforts to streamline its operations come after the sector, which largely catered to stocks and derivatives, underwent an upgrade as cryptocurrencies gained popularity. Last week, Nasdaq launched a digital assets business that places it in a direct competition with crypto exchanges Binance and Coinbase Inc (COIN.O). Register now for FREE unlimited access to Reuters.com RegisterReporting by Mehnaz Yasmin in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
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