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☆ Wall Street banks name 10 UK stocks to benefit from Labour landslide win
▼ + stars: | 2024-07-05 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

The U.K.'s center-left Labour Party has won a substantial parliamentary majority in the country's general election, unseating the incumbent Conservatives after 14 years. Manthey and her team picked the FTSE 250 index , which can be traded through exchange-traded funds such as iShares FTSE 250 UCITS ETF or Vanguard FTSE 250 UCITS , over the large-cap index FTSE 100 , as their "preferred post-election trade." The strategists, however, cautioned that historical data pointed toward lackluster returns immediately after the election results. More broadly, the investment bank's economist Anna Titareva said U.K. markets remain "heavily discounted" since after Brexit. After the election results were confirmed, they reiterated their stock preferences: Taylor Wimpey and Persimmon .

Persons: Beata Manthey, Manthey, Anna Titareva, Titareva, Anthony Codling, Taylor Wimpey, Gleeson, Bellway, Investec Organizations: Labour Party, Labour, Vanguard, UBS, Companies, FTSE, FTMC, RBC Capital Markets, Jefferies, Genuit Locations: Swiss

The continent-wide STOXX 600 index (.STOXX) closed 0.5% lower, extending declines to the third consecutive session. Real estate stocks (.SX86P) fell 1.6%, leading sectoral losses. Shares of Kojamo (KOJAMO.HE) slid 5.4% after Barclays double-downgraded the Finnish residential real estate company's stock. Shares of European post and logistics companies slid after U.S. rival FedEx (FDX.N) reported lower quarterly profits on Tuesday. The STOXX 600 index (.STOXX) is on track for gains of 1.2% in June, losing some momentum from the first quarter of the year amid a high-interest rate environment, investor preference shifting away from value-oriented stocks and lacklustre China recovery.

Persons: Fed's Powell, BoE, Jerome Powell, Powell, Anna Titareva, Shreyashi Sanyal, Siddarth, Sohini Goswami, Eileen Soreng Organizations: Tech, Federal, Bank of, Bank, UBS, Central Banks ', Barclays, FedEx, Deutsche Post, Thomson Locations: BoE Real, Britain, China, United States, Bengaluru

☆ Britain’s Sketchy Growth Plan Is Scarier Than Its Bond Vigilantes
▼ + stars: | 2022-09-26 | by ( Jon Sindreu | ) www.wsj.com time to read: +1 min

A big selloff in gilts points to worries about too much supply, and to the possibility that the BOE could raise borrowing costs even faster than expected. The expansive, expensive economic policy of new U.K. Prime Minister Liz Truss has revived fears of “bond vigilantes.” But the turmoil in financial markets may have more to do with the plan’s unclear return on investment than its hefty borrowing requirements. On Monday, sterling dropped to a record low against the U.S. dollar in overnight trading before rebounding slightly. Investors already expected Ms. Truss’s new government to spend north of £150 billion, equivalent to $163 billion, to freeze energy bills, but on Friday her Treasury chief, Kwasi Kwarteng , paired this with the most sweeping tax cuts since 1972, according to the independent Institute for Fiscal Studies, as well as totemic measures such as scrapping a cap on bankers’ bonuses. The total package will cost £291 billion, or a colossal 12.6% of gross domestic product, over the next five years, according to estimates by UBS economist Anna Titareva .

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