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☆ No reason to think bearish pattern will persist, says Crossbridge Capital CIO
▼ + stars: | 2024-08-12 | 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 EmailNo reason to think bearish pattern will persist, says Crossbridge Capital CIOManish Singh, chief investment officer at Crossbridge Capital, discusses the state of the technology market and his forecast for rate cuts by the Federal Reserve.

Persons: Manish Singh Organizations: Crossbridge, Federal Reserve

☆ Market sell-off won't last for one key reason, CIO says: There's no tech bubble to burst
▼ + stars: | 2024-08-12 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Global markets are cautiously rebounding from an early-August rout — and one asset manager says there's no need to fear a burst tech bubble causing a persistent downturn. "I just don't see a tech bubble. Pointing to the Nasdaq, Singh noted that on an equally-weighted basis — giving each stock the same weight regardless of market capitalization — the index is flat over the last three years. "So if you have 100 stocks and seven of them are doing well because they have delivered [on] earnings, that's fine. The tech sector's recent bull run has in part been powered by the so-called "Magnificant Seven" of Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla .

Persons: —, there's, Wall, Manish Singh, CNBC's, Singh Organizations: Crossbridge, Nasdaq, Apple, Microsoft, Nvidia, Tesla

☆ Chinese consumer stocks are undervalued, CIO says
▼ + stars: | 2023-11-29 | 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 EmailChinese consumer stocks are undervalued, CIO saysPinduoduo's rally shows Chinese consumer stocks are undervalued due to "China effect" fears, says Crossbridge Capital Group CIO Manish Singh.

Persons: Manish Singh Locations: China

☆ U.S. jobs report was not as strong as it seemed and recession is likely, CIO says
▼ + stars: | 2023-02-09 | 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 EmailU.S. jobs report was not as strong as it seemed and recession is likely, CIO saysCrossbridge Capital Group's Chief Investment Officer Manish Singh digs into the detail of U.S. jobs and economic data, his view on Fed rate cutting and why he sees a U.S. recession ahead.

MILAN, Dec 8 (Reuters) - Russia's Lukoil (LKOH.MM) and U.S. private equity firm Crossbridge are close to a deal for the sale of the Russian group's refinery in Sicily, Italy, three sources with knowledge of the matter said on Thursday. The Lukoil-owned site in Sicily refines a fifth of Italy's crude and directly employs about 1,000 people in an economically depressed area. Last week, Rome laid down a scheme to place the plant in the hands of trustees to protect jobs and domestic refinery capacity from the embargo. read moreThe possibility that the refinery may end up under a trusteeship has accelerated negotiations between Lukoil and Crossbridge, one of the sources said. ($1 = 0.9480 euros)Additional reporting by Angelo Amante; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Italy seeks U.S. help to unlock funding for Lukoil refinery, sources say
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +3 min

The survival of the ISAB plant in Sicily is under threat due to a European embargo on seaborne Russian oil coming into effect on Dec. 5. ISAB has been forced to rely solely on Russian oil after creditor banks halted financing and stopped providing guarantees needed to buy oil from alternative suppliers. Its creditor banks have been wary of dealing with a Russian entity because Lukoil is affected by international sanctions in the United States, but not in Europe. So far, however, there has been no positive response to Italy's request, one of the sources said. A cabinet meeting on Thursday will also discuss steps aimed at helping the ISAB plant, one of the sources said.

REUTERS/Antonio ParrinelloROME, Nov 8 (Reuters) - Italy's efforts to secure financing to keep an Italian oil refinery owned by Lukoil up and running despite new sanctions on Russia kicking in next month have hit obstacles, three people close to the matter said. Lukoil is not under sanctions, but ISAB suppliers and lenders had been wary of dealings with a Russian entity following the Ukraine conflict. A sale to non-Russian buyers would avert the closure of the ISAB plant, which directly employs some 1,000 workers. Lukoil could provide temporary funding for ISAB, based on the minutes of a ministerial meeting held on Oct. 17 to discuss ISAB financing. Rome is also considering buying a minority stake in the refinery to protect Italian interests, one of the sources said.

☆ Italy to scrutinise sale of Lukoil-owned refinery, minister says
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +2 min

The ISAB refinery accounts for around 20% of Italy's refinery capacity and directly employs 1,000 workers in one of Italy's poorer regions. Rome has special anti-takeover regulations or so-called "golden powers" to shield companies deemed of strategic importance from foreign interest. Marking a break with previous administrations, Prime Minister Mario Draghi's government has used golden powers to set conditions on scores of deals. Urso has recently said that Prime Minister Giorgia Meloni's administration would continue to use such a rules to preserve the country's national interest. Last month Italian authorities provided Lukoil with a "comfort letter" to help ISAB refinery get bank financing to buy non-Russian oil but lenders have not yet unlocked the much-needed funds.

☆ Russia's Lukoil rejects U.S. private equity firm's offer to buy its Sicily refinery - FT
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +2 min

The report added that Lukoil remains reluctant to sell its Italian refinery to Crossbridge, a decision that could risk thousands of jobs as well as potentially bankrupt the refinery. Lukoil's ISAB refinery in Sicily accounts for around 20% of Italian refining capacity. ISAB has been forced to rely solely on Russian oil after creditor banks halted financing and stopped providing guarantees needed to buy oil from alternative suppliers. Lukoil and Crossbridge Energy did not immediately respond to Reuters' request for comment. ($1 = 1.0063 euros)Reporting by Rishabh Jaiswal in Bengaluru; Editing by Chris Reese and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Lukoil's ISAB refinery in Sicily stands to be hit by an embargo on seaborne Russian oil that comes into force on Dec. 5, putting at risk jobs in Italy's poorer south and the country's refining capacity. Although Lukoil is not affected by the sanctions, the ISAB plant has been forced to rely solely on Russian oil after creditor banks halted financing and stopped providing guarantees the refinery needs to buy oil from alternative suppliers. The sources said the government was trying to find ways to ensure the plant can receive financing from lenders and remain operational. The goal is to allow ISAB to buy elsewhere the oil it needs, two of the sources said. A sale to non-Russian buyers would avert the closure of the ISAB plant, which accounts for around 20% of Italian refining capacity and directly employs some 1,000 workers.

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