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☆ Over 150 ex-soccer, rugby players join concussion lawsuit
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +3 min

London sports law firm Rylands Garth said it would issue proceedings in court on Tuesday on behalf of 100 rugby league players, 40 rugby union players and 15 football players, taking the total number of claimants to 380. The players allege that the sports' governing bodies failed to protect them from concussion and non-concussion injuries that caused various disorders including early onset dementia, chronic traumatic encephalopathy, epilepsy, Parkinson's disease and motor neurone disease. "Acting on the latest science, evidence and independent expert guidance, we constantly strive to safeguard and support all our players – future, current, and former...," World Rugby, the Rugby Football Union (RFU) and the Welsh Rugby Union (WRU) said in a joint statement. Rylands Garth represents over 250 rugby union players with brain damage, including England World Cup winner Steve Thompson and former Wales captain Ryan Jones, in a claim against World Rugby and the governing bodies of England and Wales. The firm also represents 100 rugby league players as part of a separate but similar potential claim against England's RFL.

☆ Mbappe looking to reach new heights with ambitious France
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, March 26 (Reuters) - Kylian Mbappe's rise continued as France started their Euro 2024 qualifying campaign with a 4-0 win against the Netherlands and the forward will be looking to reach new heights as Les Bleus face Ireland away in Group B on Monday. Mbappe has scored 38 goals for France and sits in fifth place overall in the list of the country's top scorers, three shy of former great Michel Platini and 15 behind all-time leader Olivier Giroud. Mbappe netted a double at the Stade de France last Friday as France crushed the Netherlands in seemingly casual, yet brutal fashion. "We want to show we can be a great team, that's the identity of this generation - this desire for greatness, a lot of players have that," said the 24-year-old Mbappe. To do that, France will rely on their pair of centre backs after Dayot Upamecano and Ibrahima Konate proved unbreakable last Friday.

☆ RBC names 5 global financial stocks to buy right now as banks sell off
▼ + stars: | 2023-03-21 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The recent falls in the stock of European financial stocks have presented a buying opportunity, according to RBC Capital Markets. However, RBC analysts say insurers are fundamentally different from banks, and the circumstances that led to SVB's collapse could not occur at an insurance company. Shares of Just Group in particular are expected to double over the next 12 months to £1.60 ($1.96) from its current share price of £0.79, according to RBC. "While bank customers can choose to withdraw their deposits there is no ability for an annuitant to withdraw." While the insurance firms only hold high-quality investments, as required by law, RBC analysts concede that there is a small risk if the underlying assets fail or if people live longer than anticipated.

☆ Imperious Ireland beat England to clinch Six Nations Grand Slam
▼ + stars: | 2023-03-18 | by ( Padraic Halpin | ) www.reuters.com time to read: +4 min

DUBLIN, March 18 (Reuters) - Ireland completed their fourth Six Nations Grand Slam with a 29-16 victory over England at a pulsating Aviva Stadium on Saturday, emphatically underlining their status as the world's top-ranked team heading into September's World Cup. What a group of coaches," Ireland captain Johnny Sexton, playing in his final Six Nations game, said in a pitchside interview. If it looked like Ireland would cruise towards a Grand Slam in Dublin, following success in Twickenham (2018), Cardiff (2009) and Belfast (1948), England had other ideas and another Owen Farrell penalty after the break made it 10-9. "We've built some foundations over the course of the Six Nations but clearly we want to be a better team." The defeat consigned England to fourth place in the table and a third successive Six Nations with more defeats than victories after winning the championship in 2020.

U.S. Treasury yields extended a slide after data showed March U.S. consumer sentiment fell for the first time in four months. Credit Suisse's chief executive said on Friday the bank was working hard to stem customer outflows, although this could take time. The STOXX 600 (.STOXX) index fell 2.21%, while Europe's broad FTSEurofirst 300 index (.FTEU3) dropped 22.85 points, or 1.31%. The U.S. 2-year Treasury yield , which is sensitive to shifts in interest rate expectations, fell to 3.9835% compared with a previous close of 4.13%. The benchmark German 10-year yield fell to 2.099% versus 2.243% previously .

Still, analysts say the worry about a possible banking crisis is far from over. Credit Suisse's chief executive said on Friday the bank was working hard to stem customers outflows, although this could take time. At 0944 GMT, the MSCI world equity index, which tracks shares in 47 countries, was up 0.4% on the day. The central bank's supervisory board met on Friday to discuss stress and vulnerabilities in the euro zone banking sector. The Australian dollar, seen as a liquid proxy for risk appetite, was up 0.7% on the day at $0.6705 .

☆ Aviva boosts investor payouts after profit beat
▼ + stars: | 2023-03-09 | by ( Iain Withers | ) www.reuters.com time to read: +2 min

The British insurer and asset manager said it had paid more than 5 billion pounds to investors since 2021, including a final dividend of 20.7 pence per share for 2022. The FTSE 100 company reported a 35% rise in 2022 operating profit from continuing operations to 2.2 billion pounds, up from 1.6 billion pounds the previous year. Aviva made an accounting loss of 1.1 billion pounds, compared to a 2 billion pound profit the previous year, which it blamed on adverse market movements in 2022. Following a pension scheme payment and investor payouts, this fell to an estimated 196%, the company said. The company's general insurance gross written premiums increased 8% to 9.7 billion pounds, while its fund arm Aviva Investors reported external net flows of 1.3 billion pounds, down from 3.3 billion the prior year.

[1/3] People walk over Millennium Bridge amidst early morning fog, as the sun rises beyond the City of London financial district in the background, in London, Britain, February 8, 2023. REUTERS/Henry Nicholls/File PhotoLONDON, March 9 (Reuters) - Investors Aviva (AV.L) and M&G (MNG.L) on Thursday joined calls for Britain to press ahead with financial reforms and give high-growth sectors such as technology companies more support to keep London's markets competitive. Andrea Rossi, chief executive of asset manager and insurer M&G, said Britain needed to better support new companies to attract them to London's stock market. Rossi said while he was "bullish" on Britain's prospects, the country needed regulatory and political stability after a turbulent end to 2022. ($1 = 0.8408 pounds)Reporting by Iain Withers in London and Sinchita Mitra in Bengaluru, Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ UK stocks slip as investors gauge prospects of U.S. rate hike
▼ + stars: | 2023-03-09 | by ( Susan Mathew | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 index (.FTSE) fell 0.6%, and the mid-cap index (.FTMC) lost 0.7%, extending losses for a third straight session. Strengthening the case for hikes, data showed U.S. job openings fell less than expected in January. The FTSE 100 is up more than 6% so far this year, but is off more than 2% from all-time highs hit last month as investors try to assess the impact of rising interest. Among individual stocks, Rio Tinto (RIO.L) dropped 0.6% as the miner traded without dividend eligibility. Reporting by Susan Mathew in Bengaluru; Editing by Sherry Jacob-Phillips and Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

☆ Aviva hikes investor payouts after bumper operating profit beat
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

The British insurer and asset manager said it had paid more than 5 billion pounds to investors since 2021, just topping Cevian's demand for that figure to be returned over the year. Aviva reported a 35% rise in 2022 operating profit from continuing operations to 2.2 billion pounds, up from 1.6 billion pounds the previous year and trumping analyst forecasts. However, it made an accounting loss of 1.1 billion pounds, compared to a 2 billion pound profit the previous year, which it blamed on adverse market movements in 2022. Following a pension scheme payment and investor payouts, this fell to an estimated 196%, the company said. The company's general insurance gross written premiums increased 8% to 9.7 billion pounds, while its fund arm Aviva Investors reported external net flows of 1.3 billion pounds, down from 3.3 billion the prior year.

☆ L&G looks overseas to fight Brexit discount
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

That’s partly due to its concentration in the life sector – Wilson sold out of general insurance in 2020. L&G’s investment management unit has benefited from an international drive, with non-UK assets accounting for 43% of new money last year. On the life insurance side, some 39% of L&G’s gross premiums were booked overseas in 2022, with the U.S. a particular focus for Brexit-backing Wilson. The less L&G looks like a British company, the more attractive it will be to shareholders. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ M&G would be a tricky hop for kangaroo raider
▼ + stars: | 2023-03-02 | by ( Neil Unmack | ) www.reuters.com time to read: +3 min

LONDON, March 2 (Reuters Breakingviews) - M&G (MNG.L) would be a tricky hop for Macquarie (MQG.AX). The $48 billion Australian financial powerhouse may bid for the $6 billion UK insurer. The appeal is likely to be in the fund management group. Macquarie’s own asset management arm accounted for over 30% of net profit in the first half of its current financial year. Follow @Unmack1 on TwitterCONTEXT NEWSAustralian banking group Macquarie is considering a bid for UK insurance and asset management group M&G, Sky News reported on March 1.

Fund managers say they are fielding more queries from clients about the odds of an invasion of Taiwan by China. Russia's invasion of Ukraine early last year has also made investors more wary of war risk, analysts said. Goldman Sachs' Cross-Strait Risk Index, which gauges the intensity of geopolitical risk between Taiwan and mainland China, hit a record high last August after then-U.S. House of Representatives Speaker Nancy Pelosi's trip to Taiwan. Jordan Stuart, client portfolio manager at Federated Hermes, says he cut China exposure last year while holding onto some small stocks that can "fly under the radar". The Taiwan Strait is a major route for ships transporting goods from East Asia to the United States and Europe.

[1/3] A man wearing a protective mask is seen inside the Shanghai Stock Exchange building, as the country is hit by a new coronavirus outbreak, at the Pudong financial district in Shanghai, China, February 28, 2020. REUTERS/Aly Song/File PhotoNEW YORK/SINGAPORE, Feb 24 (Reuters) - Many large money managers are steering clear of Chinese assets, missing out on the nation's post-COVID stock market rally in the latest example of strategic concerns trumping juicy returns. "For our investors who might have that concern, there are plenty of other opportunities away from China." The concern flagged by some is whether this is part of a structural downgrade for Chinese assets, said Will Malcolm, a Singapore-based portfolio manager at Aviva Investors. That could attract cash in a hurry, but the behaviour of large investors so far suggests that a large sentiment shift will be needed.

☆ Analysis: The deep freeze over UK assets is thawing
▼ + stars: | 2023-02-13 | by ( Naomi Rovnick | ) www.reuters.com time to read: +4 min

"This does suggest a possible inflection point in sentiment towards UK assets," said Nick Kissack, a UK portfolio manager at Schroders, which manages roughly $910 billion of client funds. "We saw extreme levels of risk aversion," in September, he added, while "the risk premium for UK assets has come down since." That, in short, is an outlook of higher global interest rates, weak growth and high inflation. Reuters GraphicsHowever, analysts expect the FTSE 100's rise to falter with a stronger global growth outlook combined with waning energy inflation. "The UK is the standout global economy where growth prospects have not improved," said Baylee Wakefield, multi-asset portfolio manager at Aviva Investors, who expects gilts to continue outperforming Treasuries.

☆ L&G succession planning misses the mark
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 30 (Reuters Breakingviews) - Chief executives always like to see their company’s share price dip when they announce their departure. But it might also express mild discontent with the board’s succession planning. Even so, the smoothest way to sign off on Wilson’s tenure would have been to announce his successor now, rather than the news it might take up to a year to find one. After all, the L&G board had long enough to identify a suitable internal candidate. Chairman John Kingman’s reticence may reflect a preference for a big-hitting external candidate to grow the company beyond UK borders.

☆ The yen should be 'one of the real winners' in 2023, fund manager says
▼ + stars: | 2023-01-26 | 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 yen should be 'one of the real winners' in 2023, fund manager saysSunil Krishnan, head of multi-asset funds at Aviva, says the Japanese yen will probably be "one of the big themes" in currency markets.

☆ Aviva keeps dividend, capital returns guidance after UK's December cold snap
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

LONDON, Jan 25 (Reuters) - British insurer Aviva (AV.L) on Wednesday maintained its dividend guidance and capital returns outlook as it reported a positive end to trading for the year in its general insurance unit. The company said it expects the group's full-year combined operating ratio to be around 94.6%, in line with guidance given at its third-quarter update. One of Britain's biggest motor and home insurers, Aviva estimated December's adverse weather conditions in the UK to cost around 50 million pounds ($61.65 million), and said it was continuing to support customers following the cold snap. Over the course of 2022, it said its weather experience in its UK & Ireland business was only marginally above long-term averages whilst its Canadian business actually recorded lower than long-term averages with no fourth quarter weather events. ($1 = 0.8110 pounds)Reporting by Simon Jessop, editing by Sinead CruiseOur Standards: The Thomson Reuters Trust Principles.

☆ Direct Line woes are thin end of insurance wedge
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 11 (Reuters Breakingviews) - Direct Line (DLGD.L) has an extreme case of January blues. Shares of the UK home and motor insurance company dropped 28% on Wednesday morning after it scrapped its final dividend. A flood of insurance claims – as bad weather led to a rise in car incidents – was in part to blame. Inflation of car parts and second-hand car valuations helped put the group in the dreaded underwriting position where premiums can’t cover policy costs. But Direct Line’s declining commercial property valuations may also be a sign of trouble ahead.

☆ Analysis: Move over TINA, it's time for TARA
▼ + stars: | 2023-01-11 | by ( Naomi Rovnick | ) www.reuters.com time to read: +5 min

Reuters GraphicsIdanna Appio, a portfolio manager at First Eagle Investments, said that TINA was good for passive investors as it meant that equity prices went up because bond yields went down. "The risk free rate," he added, referring to core government bond yields, "actually gives you something." Bond funds recorded net inflows for six straight weeks until early January, BofA said, based on its analysis of EPFR data. "The end of TINA is very important," said Francesco Sandrini, head of multi-asset strategies at Amundi, Europe's largest fund manager. "You don’t need a bond bull market, you now have income," said Jeffrey Sherman, deputy chief investment officer at U.S. money manager DoubleLine.

Below are the events, trends and topics investors expect to shape the outlook for emerging markets next year. "The economic downturns along with the aggressive monetary tightening and geopolitical and commodity shocks that induce them will be temporarily painful in financial and emerging markets," said David Folkerts-Landau, group chief economist at Deutsche Bank. Globally, the war has transformed energy markets and inflation pressures, food security and geopolitical risk perception - factors that are often more keenly felt in emerging economies. "There's not actually a lot of debt maturing next year," said Carmen Altenkirch, emerging markets sovereign analyst at Aviva Investors. 6/ TURKEY ELECTIONSPresident Tayyip Erdogan could face the biggest political challenge of his two decades in power as Turks head to the ballot box in the most high-profile vote in emerging markets.

LONDON, Dec 16 (Reuters) - The Bank of England looks like it's being outed as the weakest link. The primary reason was that two of the nine-person MPC voted to end the Bank's rate rise campaign right away as the recession the Bank thinks is already underway will get entrenched next year. But with the median economist forecast for the Bank's terminal rate somewhere around 4.25%, markets still seem aggressively positioned for a hawkish surprise and the pound may be more vulnerable to that revision as the winter progresses. Significantly, the implied Fed terminal rate edged higher to 4.9% after its policy setpiece on Wednesday - even if is still below the 5.1% the Fed indicated. Reuters Graphics Reuters GraphicsReuters GraphicsReuters Graphics Reuters GraphicsThe opinions expressed here are those of the author, a columnist for Reuters.

☆ VIEW Bank of England raises rates to 3.5%, says inflation has peaked
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +7 min

LONDON, Dec 15 (Reuters) - The Bank of England on Thursday raised interest rates by a widely expected 50 basis points (bps) to 3.50%, in its ninth straight increase - and its eighth this year. UK rates began rising in December 2021, making the BoE the first of the world's major central banks to kick off a monetary policy-tightening cycle. MONEY MARKETS: Interest rate swaps showed investors expected rates to peak at 4.46% by next August, compared with an anticipated terminal rate of 4.53% just before the decision. Their own numbers have been pointing to a recession for a little while, and they've still materially hiked interest rates. EDWARD HUTCHINGS, HEAD OF RATES, AVIVA INVESTORS, LONDON:"The Bank of England duly delivered on financial markets expectations of a 0.50% hike.

Summary Hawkish central banks dampen hopes of peak ratesEuro zone bonds yields surgeHawkish message a reality check for markets -analystsLONDON, Dec 15 (Reuters) - Forget a year-end rally in financial markets. The message from major central banks is loud and clear: the battle to tame inflation is far from over. Central banks in the United States, euro zone, Britain and Switzerland met on Wednesday and Thursday and all slowed the pace of aggressive rate moves. European Central Bank President Christine Lagarde said to expect more 50-basis-point rate increases for a period of time and that the ECB was not "pivoting" yet. Such sharp moves loosen the very financial conditions that central banks are trying to tighten in order to contain inflation.

SummarySummary Companies G10 central banks deliver 350 bps of rate hikes last monthEmerging central banks tightened policy by 400 bpsHiking cycle coming to an end in many developing economiesLONDON, Dec 2 (Reuters) - The pace and scale of rate hikes delivered by central banks in November picked up speed again as policy makers around the globe battle decade high inflation. Central banks overseeing six of the 10 most heavily traded currencies delivered 350 basis points (bps) of rate hikes between them last month. The European Central Bank, the Bank of Canada, the Swiss National Bank and the Bank of Japan did not hold rate setting meetings in November. The latest moves have brought total rate hikes in 2022 from G10 central banks to 2,400 bps. "Central banks' determination to bring down inflation suggests that policy rates need to go higher still."

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