DIRS.INFO The most relevant business & tech news

The SFDR defines sustainable investment as contributing to "an environmental or social objective", assessed by indicators such as use of raw materials or production of waste. The people Reuters spoke to said discrepancies among fund portfolios reflected a lack of clarity from the Commission over what constitutes a sustainable investment. Reuters GraphicsReuters GraphicsTEMPERATURE GAUGEMSCI, the finance industry data provider, has developed a way of checking on investment funds' green credentials with its ESG Implied Temperature Rise tool. Among them, for example, are BlackRock's Sustainable Energy Fund, Nordea's Global Climate and Environment Fund and Pictet's Global Environmental Opportunities Fund. "The characterisation of what constitutes a sustainable investment under the SFDR is also a concept that needs further clarifications at European level."

☆ This emerging markets fund outperforms by finding ideas in small- and mid-cap companies
▼ + stars: | 2023-03-01 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

A keen appreciation for ideas that fly under the radar helped one emerging markets fund outperform during the pandemic. Since starting at the Matthews Emerging Markets Small Companies (MSMLX) fund in 2020, Vivek Tanneeru said he has kept his focus on small- and mid-cap companies to generate alpha (returns above a benchmark). For example, his Matthews Emerging Markets Sustainable Future fund (MISFX) fund, which he founded in 2015, is also given five stars at Morningstar. One stock Tanneeru is particularly bullish on now is Legend Biotech . For Tanneeru, small caps are a more nimble way for investors to gain access to emerging markets and tap into consumer preferences there.

☆ Hedge funds unimpressed by Chinese internet giants' peppy earnings
▼ + stars: | 2023-02-28 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

HONG KONG, Feb 28 (Reuters) - A set of bumper earnings reports from the likes of Baidu Inc and other Chinese internet giants isn't impressing hedge funds and other investors who have cut exposure to the stocks and seem to be waiting for more good news. Despite easily beating expectations for their earnings and giving optimistic forecasts for the recovery in demand, shares in both companies fell. Mark Dong, co-founder of Minority Asset Management, who is based in Hong Kong, says expectations for Chinese growth are clouded by doubts over how Beijing plans to stimulate the economy and deal with external risks. The internet sector index (.H11137) nearly doubled between late-October and January but has since fallen 20%. Global hedge funds such as Bridgewater Associates, Tiger Asset Management and Coatue Management are big holders of China internet stocks, which makes the sector more vulnerable to the global economic cycle and geopolitical tensions.

☆ Swiss regulator investigates 12 banks in Lebanese central banker corruption case
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

ZURICH, Feb 27 (Reuters) - Switzerland's financial regulator has investigated 12 banks and launched enforcement proceedings against two of them in relation to corruption charges against longtime central banker Riad Salameh, it said on Monday. Lebanese authorities charged Salameh, his brother Raja and one of his assistants on Thursday with money laundering, embezzlement and illicit enrichment after months of delay in the high-profile case. The Swiss Financial Market Supervisory Authority (FINMA) on Monday said it has investigated 12 banks in relation to allegations of money laundering linked to the case. FINMA declined to comment on the nature of the enforcement proceedings in this case, or the banks involved. The Salameh brothers are alleged to have transferred $330 million to Swiss accounts via the offshore company Forry Associates, which is registered in the British Virgin Islands, Swiss newspaper SonntagsZeitung newspaper reported.

☆ Rate jitters extend February flop for stocks
▼ + stars: | 2023-02-22 | by ( Naomi Rovnick | ) www.reuters.com time to read: +4 min

[1/3] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 16, 2023. "The economic data has been much more resilient than we all thought (it would be) and we have to accept that." "A bear market rally driven by expectations that inflation would drop and interest rates would peak out may be over," said Trevor Greetham, head of multi-asset at Royal London Asset Management. "The big call this year will still be (a) recession," he added, as "interest rates go higher," in a move that would eventually spark "an earnings driven bear market (that) hasn't started yet." New Zealand's central bank also raised interest rates by 50 bps on Wednesday to a more than 14-year high of 4.75%, flagging more monetary tightening to come.

☆ Bank of England still facing the perfect storm, economist says
▼ + stars: | 2023-02-02 | 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 EmailBank of England still facing the perfect storm, economist saysThe guidance for the economic outlook provided by the Bank of England is more surprising than its interest rate decision, Frederik Ducrozet, head of macroeconomic research at Pictet Wealth Management, says.

☆ Gucci's challenge: reigniting heat while boosting timeless appeal
▼ + stars: | 2023-01-30 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

PARIS, Jan 30 (Reuters) - Sabato De Sarno, newly appointed by Kering (PRTP.PA) to reinvigorate its prized Gucci brand, needs to spark heat with a new direction, analysts say - a delicate task, given the emphasis executives have also put on the label's timeless appeal. De Sarno, a senior fashion designer from Valentino, is tasked as creative director with reviving the fortunes of the brand that accounted for two-thirds of Kering's profits in 2021. Analysts welcomed Kering's choice of a seasoned but relatively unknown designer, noting that previous creative director Michele did not have a public profile when he was appointed in 2002. His experience at Valentino suggests a "less eccentric aesthetic" than Gucci's previous designer, noted Carole Madjo of Barclays. The designer rose through Valentino's ranks after his arrival in 2009 to become fashion director overseeing both the men's and women's collections, working closely with chief designer Pierpaolo Piccioli.

☆ VIEW Nissan, Renault agree to overhaul alliance, putting themselves on equal footing
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +3 min

"We understand Renault is able to ring fence its own technology within the alliance allowing the firm to collaborate also with other external partners beyond the Renault Nissan alliance. "Overall we welcome this step which will enhance the industrial collaboration within the alliance." JEFFERIES"A re-sized capital structure should help keep the Alliance viable, maintaining synergies and opening up strategic opportunities on both sides. Ultimately it means that a disorderly unwind of the alliance has been avoided which is a positive. "Over the short term, it's possible there may be selling (of Nissan shares) due to a worsening of supply and demand.

MSCI's all-country world index, a gauge of stocks in 47 countries, (.MIWD00000PUS) was up 0.18% after paring gains after hitting a fresh five-month high. The dollar index rose 0.512%. The largely better-than-expected data can help the weakening dollar find a near-term floor, said Joe Manimbo, senior market analyst at Convera in Washington. "On balance, the data being better than expected suggests there's more resilience in the economy than many have given it credit," he said. Oil prices rose more than 1% on Thursday on expectations demand will strengthen as top oil importer China reopens its economy and on positive U.S. economic data.

☆ Hopes of slowdown in rate hikes bolster shares ahead of U.S. GDP
▼ + stars: | 2023-01-26 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

Oil prices were steady after U.S. crude stocks rose less than expected, while gold hit a 9-month peak. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed 1.1% and was set for its fifth straight day of gains. The report could mark the last quarter of solid growth before the lagged effects of the Fed's jumbo rate hikes kick in. Oil prices were steady after U.S. crude stocks rose less than expected. Gold prices touched a nine-month high, with spot gold at $1,941 per ounce, after hitting $1,949.09 earlier in the day.

☆ PREVIEW Luxury giants bank on Chinese return as Western shoppers sober up
▼ + stars: | 2023-01-24 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

They are expected to see a deceleration in sales growth over the quarter as the post-pandemic splurge on designer fashions begins to ease in the United States and Europe. Hermes (HRMS.PA), which reports fourth-quarter results on Feb. 17, is expected to show sales growth of 17%, a decline from 24% in the third quarter. Luxury spending by Chinese nationals had dipped from 33% of the global personal luxury goods market in 2019 to as little as 17% last year, according to estimates from consultancy Bain. Burberry's like-for-like sales growth slowed sharply to 1% in the quarter to end-December after a 23% fall in mainland China. Although the Chinese are expected to initially resume travelling within Asia, Europe is a region that particularly stands to benefit from a return of Chinese tourists.

"That would be a problem for any central bank." TUG OF WARLagarde's commitment also puzzled ECB-watchers because the central bank had previously said it wouldn't make such public predictions - known as forward guidance - anymore, but instead take each decision based on incoming data. This of course leads to a tug of war between the ECB and the markets on the narrative," he added. ING's Brzeski said the ECB lacked a clear thought-leader on its Governing Council who could steer markets like Lagarde's predecessor, Mario Draghi. "The cacophony of diverging voices and the lack of clarity on who is the leading voice keeps hurting the ECB," Brzeski said.

☆ Luxury giants bank on Chinese return as Western shoppers sober up
▼ + stars: | 2023-01-23 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

☆ Wall Street 2023 Predictions Already Wrong: Recession, Inflation, China
▼ + stars: | 2023-01-18 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

Across Wall Street, finance workers of all stripes are returning to work after skiing, gallivanting around the Caribbean, or just visiting Mom for the holiday season. Of course, there's some uncertainty in all this, and Wall Street could still be proved right. Already some Wall Street economists are revising their predictions given the strong economy, even if they're not backing off their priors quite yet. It may take years to get the Chinese consumer, on which Wall Street has placed so many hopes, back to the strength of yesteryear. Don't hatchet your chickens before they countTo be fair, not every Wall Street analyst is looking sheepish right now.

The company is the property services arm of commercial property developer Dalian Wanda Group. A presentation by Wanda Commercial Management Group seen by Reuters said the book received 3.7 times over-subscription, with $500 million orders from long-only funds, including Blackrock, Fidelity, Pictet AM, Invesco and PAG. "This deal reopened the dormant China property and high-yield bond market, and received an active and positive reaction," it added. Dalian Wanda Group did not immediately respond to a request for comment while its commercial management arm could not be immediately reached. Unlike many other Chinese developers who focus on residential projects, Dalian Wanda Group relies on rental income and has an asset-light model.

Shifts in tones at big banks suggest they are warming up to Chinese equities, especially as the strong returns so far and the fear of missing out on more gains start to apply pressure. "This is still a long path and we remain very bullish on Chinese equities ...and also the currency," he said. "When the market goes up, naturally that will attract international investors to look at China again," said Nicholas Yeo, head of China equities at abrdn. Foreign investors bought a net 41 billion yuan ($6.06 billion) of China stocks via the China-Hong Kong Stock Connect Scheme so far this year, compared with 90 billion yuan of China stocks bought in all of 2022. They bought a net 35 billion yuan of China stocks in December.

☆ Dollar sluggish as Fed rate hike fears ebb; China reopening boosts optimism
▼ + stars: | 2023-01-10 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The euro was last 0.07% higher at $1.0739, holding near the previous session's seven-month peak of $1.07605 that came on the back of the dollar's decline. Sterling slid 0.08% to $1.21705, after similarly hitting a three-week top of $1.2209 on Monday and ending the session 0.73% higher. Against a basket of currencies, the U.S. dollar index fell 0.03% to 103.14, after tumbling 0.7% and touching a seven-month low of 102.93 in the previous session. The offshore yuan last bought 6.7755 per dollar, after hitting a near five-month top of 6.7590 earlier in the session. Brazil's real snapped its three-day winning run in the previous session and last stood at 5.2546 per dollar after supporters of former President Jair Bolsonaro stormed the capital.

☆ Dollar languishes as Fed rate hike fears recede; China reopening boosts optimism
▼ + stars: | 2023-01-10 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The dollar's decline pushed the euro to a seven-month peak of $1.07605 in the previous session. Sterling slipped 0.03% to $1.2177, after similarly hitting a three-week top of $1.2209 on Monday and ending the session 0.73% higher. Against a basket of currencies, the U.S. dollar index edged 0.04% higher to 103.21, after tumbling 0.7% and touching a seven-month low of 102.93 in the previous session. The offshore yuan last bought 6.7757 per dollar, and was edging towards the previous session's near five-month top of 6.7665 per dollar. "Hedge funds managers have turned slightly bearish USD following the full reopening in China," said Tareck Horchani, head of head of prime brokerage dealing at Maybank Securities.

☆ Morning Bid: The year of the yen?
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in U.S. and global markets from Dhara Ranasinghe, Editor, Financial Markets EMEA, Thomson Reuters. And the yen, for starters, is intent on leaving a dismal 2022 behind. Yet, on the second trading day of the new year Japan's currency is already scaling seven-months highs. All this leaves the yen - you guessed it - as one of the most favored trades early in 2023. MUFG says that even after the recent rebound, the yen is still "deeply undervalued," which leaves scope for further gains.

This could change after negotiators at the U.N. nature summit in Montreal secured long-awaited formal support on Monday for a Global Biodiversity Framework to protect nature. Just 907.6 million euros are invested in Morningstar’s top 10 equity funds with biodiversity in their name. "We know the global economy and every company in it is negatively impacting biodiversity," said Tom Atkinson, portfolio manager at AXA Investment Managers, which has a 117 million euro Article 9 biodiversity impact fund. "At the moment we can only assess the negative impact (on biodiversity) of the companies in our portfolio, this is why more biodiversity funds don't exist and why regulation is arguably dragging." Three of the six largest biodiversity-named funds assessed by Reuters are overweight industrials versus the MSCI ACWI Index (USD).

☆ The ECB could be uncomfortable with market reaction to Fed announcement, strategist says
▼ + stars: | 2022-12-15 | 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 ECB could be uncomfortable with market reaction to Fed announcement, strategist saysFrederik Ducrozet, global strategist at Pictet Wealth Management, discusses the rate hike announcements by the Fed, European Central Bank and Bank of England.

☆ Analysis: Investors on alert for policy error after cheering slower rate hikes
▼ + stars: | 2022-12-12 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +6 min

With inflation potentially peaking and recession looming, the risk of overtightening accelerating a downturn is on investors' watchlists for next year. "We're past the point of the big (Fed) policy mistake, we think they kind of made it," Robert Waldner, head of macro research at $1.3 trillion asset manager Invesco, said. Recent Fed research suggests the bank has exceeded the level called for by commonly followed policy rules and should target 3.52%, versus the 3.75%-4% it currently targets. Fed research, taking into account the premium on mortgages and corporate borrowing costs, has found financial conditions in September already reflected the equivalent of a 5.25% policy rate. I am worried the Fed may not be taking into account the lags in their monetary policy," Costerg said.

Headline inflation slowed in November for the first time in 1-1/2 years, to 10%, raising hopes that sky-high price growth has passed. ECB President Christine Lagarde will likely be careful about calling a peak after last year's "big mistake" of insisting surging prices were "transitory," said Pictet's Ducrozet. ECB Chief Economist Philip Lane reckons wages would be a "primary driver" of price inflation even after energy price shocks fade. Closely-watched business activity data points to a mild recession and latest forecasts should show how the ECB views the coming slowdown. Lane believes record price growth will start to subside next year.

☆ Dollar heads for biggest monthly loss since 2010 ahead of Powell speech
▼ + stars: | 2022-11-30 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

LONDON, Nov 30 (Reuters) - The dollar eased from a one-week high on Wednesday ahead of a speech by Federal Reserve Chair Jerome Powell, while optimism over a possible loosening in China's COVID restrictions set it on course for its biggest monthly loss since late 2010. But after almost two years of near-relentless acceleration in inflation, markets could welcome any sign that the worst may be over. European assets got a lift on Tuesday after inflation in Spain and a number of major German states cooled. It has lost around 4.3% in November, marking its worst monthly performance since September 2010 , according to Refinitiv data. The offshore yuan gained ground against the dollar, which fell 1% to 7.0802.

For these reasons, the ECB said banks would have to start paying going rates on their TLTRO credit, rather than the average rate over the whole duration of the loans. But the rate the ECB pays commercial banks is now back in positive territory and is likely to rise further. Analysts have warned changing the terms of loans already outstanding could deter banks from tapping similar loans in future downturns. The TLTRO cash also creates additional demand for low-risk securities, limiting the rise in rates on repurchase agreements and short-dated government bond yields. , Lagarde said that also factored into the ECB's decision.

Search resuls for: "Pictet"

25 mentions found