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☆ Futures edge higher after Wall St selloff on Powell remarks
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +3 min

Traders drastically increased their bets that the U.S. central bank will raise rates by 50 basis points later this month, with money market futures pricing in a 64.1% chance of such a move. BlackRock's top fixed-income investor Rick Rieder said the Fed could raise rates to 6% and keep them there for an extended period of time to fight inflation. ET (1315 GMT) is expected to show private employers hired 200,000 workers in February after adding 106,000 jobs in January. Occidental Petroleum Corp (OXY.N) gained 2.5% after Warren Buffett's Berkshire Hathaway Inc (BRKa.N) increased its stake in the oil company to about 22.2%. Reporting by Sruthi Shankar in Bengaluru, additional reporting by Amruta Khandekar Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Theater chain AMC falls 8% on worries of slower box-office recovery
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

In the United States and Canada, box office collection was above $11 billion in 2019, but since the COVID-19 pandemic, the numbers have fallen drastically, with 2022 box office numbers coming in at $7.4 billion, the company said. "It will take years to see box office revenues return to 2019 levels, which they may not ever do at all," said Jamie Lumley, analyst at Third Bridge. Wedbush Securities analysts expect 2023 box office to be down 24% from 2019 levels. AMC, however, said it expects box office will not return to pre-pandemic norms before 2024 or 2025 at the earliest. Still, AMC said it would pay down its debt of about $4.95 billion as it continued to raise cash.

☆ FTSE 100 falls as Ocado sinks; still set for best Feb in six years
▼ + stars: | 2023-02-28 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) lost 0.6% with shares of Ocado (OCDO.L) plunging 10.5% on the online supermarket and technology group's worse-than-expected full-year loss. "Ocado is in the eye of the cost-of-living storm because its offering isn't synonymous with being the best value," said Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown. Lund-Yates said Ocado is a higher-end option, without the same benefits of enticing people with tangible, physical goods like peer Marks & Spencer (MKS.L). Despite recent volatility, the exporter-heavy FTSE 100 is on track to record its best February performance since 2017 as higher earnings and weakness in the pound earlier in the month made equities more attractive. On the flipside, hedge fund firm Man Group (EMG.L) gained 7.9% after posting a higher full-year core pretax profit and beating expectations on assets under management.

☆ FTSE100 stocks have been shunned for years. Now investors love them
▼ + stars: | 2023-02-17 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

Both US indexes have recovered slightly following last year’s big falls, but one of the biggest drags on their performance — high interest rates — is likely to stick around. That’s because, when interest rates are low, the yields on government bonds are also low. That boosts investors’ appetite for riskier investments, such as the stocks of small or highly indebted tech companies that could make blockbuster returns years down the line. BP (BP) and Shell (SHLX), both FTSE companies, more than doubled their annual profits last year to a combined $68 billion. But the lack of tech companies may come back to haunt the FTSE, once inflation and interest rates fall back.

☆ Barclays shares plunge 10% as profit falls
▼ + stars: | 2023-02-15 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Shares of Barclays tumbled nearly 10% Wednesday after the British bank reported a sharp drop in profit, driven by increased provisions for bad debts and huge fines for wrongly sold securities in the United States. Barclays (BCS) reported a net profit of £5.97 billion ($7.2 billion) for 2022, a 15% decline on the previous year. Meanwhile fee income at Barclays International, which houses its investment bank, slid 22% to £5.2 billion ($6.3 billion). Investors may also have been disappointed by the announcement of a £500 million ($600.7 million) share buyback, adding to pressure on the stock. Barclays said total share buybacks amounted to £1 billion ($1.2 billion) in 2022.

☆ London's FTSE 100 muted as bank stocks fall; weaker pound limits losses
▼ + stars: | 2023-02-15 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) fell 0.1%, hovering near a record high. British lender Barclays (BARC.L) slid 8.3% to the bottom of the FTSE 100 and was set to post its biggest drop in nearly a year after reporting a 14% slump in full-year profit. The FTSE 350 banking index (.FTNMX301010) fell 1.9%, on track for its biggest one-day drop in more than two months. The pound edged lower after data showed British consumer price inflation fell more than expected in January and there were also drops in underlying measures of inflation that are being closely watched by the Bank of England. The FTSE 100 has had a stellar start to the year boosted by upbeat corporate earnings, rising more than 6% so far this year.

☆ UK's Hargreaves Lansdown profit rises as savers seek to boost returns
▼ + stars: | 2023-02-15 | by ( Sinchita Mitra | ) www.reuters.com time to read: +2 min

"There is uncertainty and people want to make sure they are getting value from how they are managing their cash savings," Chief Executive Officer Chris Hill told Reuters. Hargreaves said its Active Savings unit had 1.7 billion pounds ($2.05 billion) in cash flows in the six months to Dec. 31, compared with 600 million pounds in the same period last year. Hargreaves reported profit before tax of 197.6 million pounds for the half year, compared with 151.2 million pounds a year ago. The company however, reported a 10% fall to 127.1 billion pounds in its assets under administration due to turbulence in financial markets. Net new business also fell 30% to 1.6 billion pounds.

☆ European shares up as travel stocks shine, Thyssenkrupp slides
▼ + stars: | 2023-02-14 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The continent-wide STOXX 600 index (.STOXX) rose 0.4%, while European travel & leisure stocks (.SXTP) advanced 0.8%. TUI's German-listed shares (TUIGn.DE) rose 2.5%, with its shares listed in London adding 2.5% after the company reported more bookings and higher first-quarter revenue. In Europe, a flash reading of fourth quarter GDP is also on the radar on growing hopes that the euro zone economy most likely avoided a recession. The STOXX 600 has risen over 9% so far this year led by better-than-expected earnings and a brighter outlook for the euro zone economy. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Savio D'Souza and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ 'It will prosper': Analysts say buy this global fintech stock with over 140% upside
▼ + stars: | 2023-02-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Shares of PensionBee , the U.K.-based digital pension provider, are expected to more than double in a year, according to a number of analysts. As a result, the Wall Street bank expects the stock to rise by 216% to £2.17 ($2.63) over the next 12 months. The positive outlook will be a reversal for the fast-growing company's stock, which fell by 60% in 2022 amid a broader sell-off in the U.K.'s small and mid-cap equity market. The consensus price target of five analysts covering the company gives the stock 146% potential upside. The German investment bank expects the stock to rise by more than 143% in the next 12 months to £1.70.

☆ FTSE 100 slips from record high as upbeat data stokes Fed rate jitters
▼ + stars: | 2023-02-06 | by ( Sruthi Shankar | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) fell 0.6% after hitting a record high of 7,906.58 in the previous session. Attractive valuation levels compared to overseas peers and the large divergence in performance between different parts of the market "create good opportunities for attractive returns from UK stocks in the next 3-5 years", he added. The domestically-focussed FTSE 250 (.FTMC) fell 0.8%, after climbing an eight-month peak last week. Online trading platform Plus500 Ltd (PLUSP.L) jumped 4.2% after it got licence to expand in the UAE. Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

[1/2] A man is reflected in an electronic board showing Britain's FTSE 100 outside a brokerage in Tokyo, Japan, June 27, 2016. REUTERS/Toru HanaiLONDON, Feb 3 (Reuters) - Britain's blue-chip FTSE 100 (.FTSE) index hit a record high on Friday, in what could mark a potential turning point for UK assets, which have been dogged by a floundering economy. The FTSE 100 rose to 7,906.58 at 1545 GMT, surpassing a previous record high of 7,903.50 hit on May 22 2018. "Is it realistic that the FTSE being at an all-time high when we consider the state of the UK economy? The FTSE 100 closed Friday up 1.04% higher and has rallied 4.9% so far this year.

☆ Markets are going on 'animal spirits' at the moment, strategist 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 EmailMarkets are going on 'animal spirits' at the moment, strategist saysEmma Wall, head of investment analysis and research at Hargreaves Lansdown, discusses the stock market's rally in the face of a weak economic outlook and high rates.

☆ Brokers team up on new platform to boost retail interest in UK capital markets
▼ + stars: | 2023-02-02 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, Feb 2 (Reuters) - Investment firms and brokers in Britain teamed up on Thursday to back a new standalone retail platform to strengthen access for small investors to the UK capital market. "The collaboration of market participants using this service is an important step towards the more equitable inclusion of retail investors in UK capital markets," said a joint statement from brokers. One aim is to make it easier for retail investors to participate in capital markets, a step the European Union is also working on, with legislative proposals due in April. The government has said it will implement recommendations from a review of secondary capital markets to overhaul company fundraisings and give more access to retail investors. REX enables retail investors to participate in capital markets transactions such as initial public offers and follow-on equity offerings through retail brokers and wealth managers.

☆ British finance minister sticks to tax-hiking plans, pledges post-Brexit reforms
▼ + stars: | 2023-01-27 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +3 min

Optimism in the U.K. economy has been in "short supply" in recent months, Hunt said. The Finance Minister stressed the importance of making the U.K. a place where companies want to do business. Hunt's speech comes as the U.K. inflation rate most recently reached 10.5% in December, well above the Bank of England's target of 2%. U.S. Inflation Reduction Act concernsJeremy Hunt said the U.K. government has "some concerns" about the U.S. Inflation Reduction Act in a Q&A session that followed his speech Friday. Absolutely not," Hunt added.

Jan 25 (Reuters) - Tesla Inc's (TSLA.O) aggressive price cuts have ignited demand for its electric vehicles, Chief Executive Elon Musk said on Wednesday, playing down concerns that a weak economy would throttle buyers' interest. However, Musk, who has missed his own ambitious sales targets for Tesla in recent years, said 2023 deliveries could hit 2 million vehicles, absent external disruption. He said he expected a "pretty difficult recession this year," but demand for Tesla vehicles "will be good despite probably a contraction in the automotive market as a whole." CYBERTRUCKThe company is relying on older products and Musk said its Cybertruck, its next new electric pickup truck, would not begin volume production until next year. Musk dismissed surveys that suggest his political comments on Twitter are damaging the Tesla brand.

Jan 25 (Reuters) - Tesla Inc's (TSLA.O) aggressive price cuts have ignited demand for its electric vehicles, Chief Executive Elon Musk said on Wednesday, playing down concerns that a weak economy would throttle buyers' interest. Deep price cuts this month have positioned Tesla as the initiator of a price war, but its forecast of a 37% rise in car volume for the year, to 1.8 million vehicles, was down from 2022's pace. Musk, who has missed his own ambitious sales targets for Tesla in recent years, said that deliveries in 2023 could hit 2 million vehicles, absent external disruption. The company is relying on older products and Musk said its Cybertruck, its next new electric pickup truck, would not begin volume production until next year. Net profit for the quarter was $3.69 billion, or $1.07 per share, compared with $2.32 billion, or 68 cents per share, a year earlier.

Jan 25 (Reuters) - Tesla Inc's (TSLA.O) aggressive price cuts have created a wave of demand for its electric vehicles, Chief Executive Elon Musk said on Wednesday, addressing concerns that a weak economy would throttle buyers' interest. "These price changes really make a difference for the average consumer," he said, adding that demand was roughly double production in January and that sales in 2023 could hit 2 million vehicles, absent external disruption. Musk dismissed the suggestion that his political commentary on Twitter had become divisive or a problem for Tesla. "Tesla’s plans to rapidly scale up output will only stimulate profit growth if demand is there to meet it. Even a small cooling of demand will have significant implications for the bottom line," said Sophie Lund-Yates, an analyst at Hargreaves Lansdown.

☆ Microsoft puts out gloomy guidance on revenue in another sign of pain for techs
▼ + stars: | 2023-01-25 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Microsoft shares initially rose 4.6% after the tech giant released its second-quarter earnings report after the market closed Tuesday, after its cloud computing division Azure posted better-than expected results. It expects between $50.5 billion to $51.5 billion in revenue in the third quarter, compared with expectations for over $52 billion, as growth in its Azure cloud-computing unit falters. Its outlook for revenues in its Azure division was also cut, after growth in the cloud-computing division slowed to 31%. "But overall revenue growth lower than expectations, companies and consumers are clearly belt tightening and Microsoft is cautious about the quarter ahead with sales momentum slowing."

But its recent, steep global price cuts mark a move toward stimulating growth at the expense of profit margins, underscoring softening demand. Tesla said its automotive operation margin was 25.9% in the fourth quarter, the lowest in two years. Net profit for the quarter was $3.69 billion, or $1.07 per share, compared with $2.32 billion, or 68 cents per share, a year earlier. Tesla ended 2022 with just over $22 billion in cash and cash equivalents. "Tesla’s plans to rapidly scale up output will only stimulate profit growth if demand is there to meet it.

☆ European shares slip as business activity data underwhelms
▼ + stars: | 2023-01-24 | by ( Sruthi Shankar | ) www.reuters.com time to read: +2 min

The pan-European STOXX 600 index (.STOXX) dropped 0.1% despite a strong finish on Wall Street where battered technology stocks continued their rebound. European stocks hit a nine-month peak last week on hopes of a milder recession in Europe and smaller interest rate increases from the Federal Reserve. However, hawkish comments from ECB policymakers have helped cement bets of two 50 basis point interest rate rises at each of its next two meetings, with one scheduled next week. Shares of Norwegian salmon farmers SalMar (SALM.OL) and Mowi (MOWI.OL) jumped 6.2% and 2.8%, respectively, to top the STOXX 600. Traders pointed to a media report suggesting adjustments to the centre-left government's salmon tax hike proposal, which has weighed on the sector.

☆ Lund-Yates: The tech sector has seen tremendous momentum to start 2023, but there's still a ways to go to get back to the highs
▼ + stars: | 2023-01-24 | 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 EmailLund-Yates: The tech sector has seen tremendous momentum to start 2023, but there's still a ways to go to get back to the highsSophie Lund-Yates, senior equity analyst at Hargreaves Lansdown, discusses what's been driving the gains in tech to start the year, and the key issues facing Microsoft and Apple ahead of their earnings reports.

☆ Netflix stock jumps 6% after co-CEO Reed Hastings steps down and subscriber numbers soar
▼ + stars: | 2023-01-20 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Netflix shares rallied 6% ahead of Friday's opening bell after the company released its fourth-quarter results. Also, Co-CEO Reed Hastings announced he would be quitting his current role. The firm also announced that co-CEO Reed Hastings would be stepping down to become Netflix's executive chairman. Hastings co-founded Netflix in 1997 and oversaw its transition from DVD delivery service to a streaming behemoth and onetime Wall Street darling. Read more: Reed Hastings is stepping down as co-CEO of Netflix

☆ Miners, energy firms drag FTSE 100 lower; Dr Martens hits record low
▼ + stars: | 2023-01-19 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 sheds 0.6%, FTSE 250 off 1.0%Deliveroo achieves breakeven in second halfBoohoo's Christmas revenue drops 11%Dr Martens sinks to FTSE 250 bottom on annual profit warningJan 19 (Reuters) - UK's commodity-heavy FTSE 100 fell on Thursday, with energy firms and material stocks dragging the benchmark index lower, while shares of bootmaker Dr Martens slumped to a record low after its annual profit warning. The FTSE 100 (.FTSE) slid 0.6%, while the domestically-oriented FTSE 250 (.FTMC) shed 1.0%. Energy heavyweights Shell (SHEL.L) and BP (BP.L) fell below 1.7%, while industrial miners (.FTNMX551020) shed 1.8% as crude and copper prices declined after disappointing U.S. economic data and on worries about a hawkish Federal Reserve. Dr Martens (DOCS.L) sank 23.6%, after it warned of a lower annual profit and revenue due to operational issues at its new U.S. distribution centre. Reporting by Johann M Cherian in Bengaluru; Editing by Savio D'Souza and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 slides into red as Ocado weighs
▼ + stars: | 2023-01-17 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

REUTERS/Stefan Wermuth/FilesSummarySummary Companies FTSE 100 down 0.1%, FTSE 250 off 0.05%Wage growth rises unexpectedlyRevolution Bars Group slumpsFTSE 100 hovers over 4-1/2-year highJan 17 (Reuters) - UK's blue-chip FTSE 100 edged lower on Tuesday, snapping a four-day winning streak, as Ocado sank on grim Christmas sales at its online supermarket venture, while data showing rising pay growth fuelled fears about the Bank of England (BoE) keeping monetary policy tight. The blue-chip FTSE 100 (.FTSE) fell 0.1%, while the domestically-oriented FTSE 250 (.FTMC) shed 0.05%. Shares of retailer Ocado Group (OCDO.L) tumbled 5.5% after its online supermarket joint venture with Marks & Spencer (MKS.L), Ocado Retail, said customers purchased fewer items per order in the run-up to Christmas. This saw the personal care, drug and grocery index (.FTNMX452010) lose 0.9%, making it the worst performing sector. Reporting by Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

The FTSE 100 (.FTSE) ended up 0.2% at 7,860.07, not far off its all-time high of 7,903.50 points hit in May 2018, while the mid-cap FTSE 250 (.FTMC) added 0.7%. "Investors appear to have fallen back in love with UK assets," said Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown. Money markets are pricing in a 64.3% chance of a 50-basis point hike by the BoE in February to curtail inflation. Oil majors BP (BP.L) and Shell (SHEL.L) slipped close to 0.4% each as crude prices fell. ITM Power (ITM.L) slumped 12% after the energy storage and clean fuel company forecast a wider full-year loss.

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