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☆ Pro Talks: After the Fed cuts rates, one fund manager reveals where to invest right now
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +1 min

Investors should stay away from overvalued U.S. stocks in 2025, fund manager Sean Peche has cautioned. The value investor at Ranmore Fund Management told CNBC's Silvia Amaro on CNBC Pro Talks about where he sees undervalued stocks and opportunities, especially now the U.S. Federal Reserve has cut interest rates. Pesh highlighted his fund's holdings, including Carrefour , Petrobras , Alibaba , and Baidu as value plays. Peche, who set up Ranmore Fund Management in 2008, also shared some of the worst trades of the year, as well as his most successful yet. Since inception, the fund has gained 10.9% on an annualized basis, slightly more than the 10.6% posted by its MSCI benchmark.

Persons: Sean Peche, CNBC's Silvia Amaro, Pesh Organizations: Ranmore Fund Management, CNBC Pro, U.S . Federal, Carrefour, Petrobras, Alibaba, Baidu, Ranmore, Equity, ABN Amro, Ranmore Global Equity Fund Locations: overvalued U.S, Hong Kong, United States, Carrefour, China

☆ CNBC Pro Talks: After the Fed cuts rates, one fund manager will reveal where to invest right now
▼ + stars: | 2024-09-24 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +3 min

After the U.S. Federal Reserve cut interest rates by a bumper 50 basis points , investors have been left wondering whether growth or value stocks are the best bet. On CNBC's upcoming Pro Talks , Silvia Amaro will ask value investor Sean Peche where he sees opportunities in the current market. Peche is portfolio manager at the U.K.-based Ranmore Fund Management and manages its $329 million Ranmore Global Equity Fund . As of Aug. 31, the Ranmore Global Equity Fund has returned 21.6% over the last year, underperforming its benchmark MSCI World Index's 24.4%. CNBC Pro subscribers can watch Pro Talks live on Wednesday, Sept. 25, at 7 a.m.

Persons: Silvia Amaro, Sean Peche, He'll, Warren Buffett, Eli Lilly, ager, CNBC's Silvia Amaro Organizations: U.S . Federal Reserve, Ranmore Fund Management, Global Equity Fund, Investors, Ranmore, Equity, Petrobras, Baidu, ABN Amro, Ranmore Global Equity Fund, Decillion Fund Management, Orbis Investment Advisory, CNBC, Beyond Locations: Carrefour, China, U.S, London

☆ People in China are so spooked about the economy that even the weak yuan isn't stopping them from buying more gold
▼ + stars: | 2024-04-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's consumers and its central bank are snapping up gold, even as a falling yuan makes the metal pricier. AdvertisementChina's central bank has also been buying up gold, in much larger quantities than Gen Z's few grams of beans. Related storiesIn 2023, China's central bank bought 225 tons of gold, per the World Gold Council. The two economies have been jostled in the top spots for years, but China's buying spree last year put India behind. Advertisement"The amount of central bank buying is not justifying gold prices at current levels," she wrote.

Persons: —, It's, Georgette Boele Organizations: Service, Bloomberg, People's Bank of China, Gold, World Gold Council, ABN AMRO Locations: China, China's, India, Poland, Singapore, Germany

☆ This fund beat the S&P 500 without holding any Magnificent 7 stocks. Here's what they're buying right now
▼ + stars: | 2024-02-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Picking great stocks and avoiding disastrous investments enabled the Ranmore Global Equity Fund to beat the S & P 500 over the past two years, according to its fund manager. The fund, run by portfolio manager Sean Peche, returned 31% in 2023 compared to 24% for the S & P 500 . The Ranmore fund also outperformed its benchmark with 1.8% total returns in 2022 when the S & P 500 and broader indexes nearly fell into a bear market. The fund manager says they take a probability-based approach with many small positions rather than a few big bets. However, according to the fund manager, the market appears to be undervaluing its cash and securities.

Persons: Sean Peche, Peche, Andrew, there's, Where's, Ranmore, it's Organizations: Ranmore Global Equity Fund, Microsoft, Meta, Petrobras, Japan's Nippon TV, GSK, eBay, of, Bank of America, UBS, Carrefour, ABN AMRO, Nippon Locations: Wall, of London, Europe, Ukraine, U.S, Japan, Holland, Netherlands

☆ Volkswagen and more: Barclays names European 'conviction' stock ideas — and gives one 59% upside
▼ + stars: | 2024-01-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

The Wall Street bank named the following five companies in its European "Conviction with Catalysts" list of stock ideas that offer strong upside potential. Enav Topping the list with the biggest upside potential is Enav , an air traffic controller company based in Italy. UCB Barclays believes Belgian biopharmaceutical company UCB can beat 2023 sales expectations thanks to its new psoriasis drug Bimzelx. Although the drug has struggled in the U.S. over side effect warnings, Barclays sees signs of healthy global demand. Volkswagen Barclays believes Volkswagen offers turnaround potential in 2024 after a disastrous 2023 and 2022.

Persons: Emmanuel Cau, Enav, — CNBC's Michael Bloom Organizations: Barclays, UCB Barclays, Belgian, UCB, ABN Amro Dutch, ABN Amro, ABN, Vivendi, Volkswagen Barclays, Volkswagen Locations: Italy, U.S

☆ Dutch bank ABN Amro beats Q3 profit estimates
▼ + stars: | 2023-11-08 | by ( ) www.cnbc.com time to read: +1 min

Dutch lender ABN Amro on Wednesday reported a third-quarter net profit well above market expectations, boosted by higher interest rates and growing loan books. ABN Amro, one of three dominant banks in the Netherlands, posted a 2% rise in quarterly net profit to 759 million euros ($811 million), compared with 743 million a year earlier. Its NII stood at 1.53 billion euros in the third quarter, up 20% from a year earlier. The bank also trimmed its expected costs for 2023 to a range of between 5.1 billion and 5.2 billion euros, versus a prior forecast of 5.2 billion euros. The banking sector has been one of the main beneficiaries of rising interest rates over the past two years, but central banks seem to be at the end of this cycle of monetary tightening.

Persons: Robert Swaak Organizations: ABN Amro, Analysts Locations: Netherlands

☆ Looking for value stocks? Citi lists over 10 European names — for risk-takers and the cautious
▼ + stars: | 2023-09-22 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

European value stocks are doing better than growth stocks right now, according to Citi analysts. Citi defined "quality" value stocks as those in the top fifth and fourth quintiles for three characteristics: value, low risk and quality. Citi said investors "have not been particularly risk-averse," as risky value stocks are up 8.6%, while quality value stocks are down 0.3% in the year to date. Nevertheless, the bank noted that investors appear to have been more cautious since the start of August, as quality value stocks are up 4.6%, while risky value stocks are down 0.6%. 'Risky value' stocks For this screen, Citi looked for stocks that scored in the seventh or above decile for value and those in the fifth or below decile for "value low risk" and quality.

Persons: TotalEnergies, Moller Maersk, — CNBC's Michael Bloom Organizations: Citi, HSBC Holdings, Zurich Insurance Group, ABN AMRO, Imperial Brands, Nokia, BNP, BMW, Bayer, Life, WPP PLC Locations: European, China, Dutch, Danish

☆ ABN Amro profit jumps on higher rates, may miss 2024 cost targets
▼ + stars: | 2023-08-09 | by ( ) www.cnbc.com time to read: +1 min

An ABN Amro Group NV bank branch in Amsterdam, Netherlands, on Tuesday, Feb. 1, 2022. Dutch bank ABN Amro beat second-quarter net profit expectations with growth of 83% on Wednesday, but said it no longer expects to reach its 4.7 billion euro ($5.16 billion) 2024 cost saving target due to rising inflation and anti-money laundering (AML) measures. Full-year costs for 2023 improved and are now expected around 5.2 billion euros, the group said, from 5.3 billion euros previously. The lender reported a net profit of 870 million euros for the three months to June, beating a company-compiled poll by analysts forecasting a net profit of 570 million euros, up from 475 million euros a year before. Rival ING Groep, the largest Dutch bank, last week also reported a forecast-beating 83% jump in second-quarter net profit, as higher interest rates helped income from lending and fees grow, as well as low loan provisions.

Persons: Robert Swaak Organizations: ABN Amro Group, ABN Amro, ABN, ING Groep, ABN Amro's Locations: Amsterdam, Netherlands

☆ European markets climb with inflation, Italian banks in focus
▼ + stars: | 2023-08-09 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

LONDON — European markets advanced on Wednesday, as traders digested China's disinflation and Italy's weakening of a surprise windfall tax on banks. The European blue chip index closed the Tuesday session 0.2% lower, with banks shedding 2.7% after the Italian government announced a surprise windfall tax on excess profits. Shares of Italian banks took a tumble on Tuesday as a result of a tax on net interest income announced on Monday. Citi analysts estimated that the levy represent around 19% of Italian lenders' net profits for the year. A Reuters poll of economists produced a consensus forecast for the July print of 3.3% year-on-year, up from 3% in June.

Persons: Hong Kong, Moody's Organizations: Novo Nordisk, Monday, Citi, Global, U.S, CPI, Federal, ABN Amro, TUI Locations: Stocks, China, Hong, Europe

☆ Goldman names under-the-radar global stocks to buy — and says one could soar 80%
▼ + stars: | 2023-07-11 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Goldman Sachs has named several European stocks to buy that it expects to outperform the market — and that other investors could be missing. The list includes Norwegian hydrogen producer Nel , which Goldman says has potential upside of 80% to its 12-month price target. Analyst Michele Della Vigna likes the stock for its strong growth outlook and focus on the North American market. Goldman also picked wind power company Vestas , saying its stock could rise by 48% over the next year. It also chose chemicals company IMCD , with 57% potential upside, and drinks company Remy Cointreau , with 54% potential upside.

Persons: Goldman Sachs, John Sawtell, Goldman, Nel, Michele Della Vigna, Ajay Patel, Remy Cointreau, Elisa, — CNBC's Michael Bloom Organizations: ABN Amro, Veritas Locations: Norwegian, Finnish

☆ How to thrive in a new era of AI with trust and confidence
▼ + stars: | 2023-06-02 | by ( Sponsor Post | Created Ibm With Insider Studios | ) www.businessinsider.com time to read: +6 min

But success in applying AI, whether based on the most advanced machine learning (ML) or the latest generative AI leveraging foundation models, is not just measured in speed. Whether based on ML or foundation models, the more customized your AI models are to those priorities, the better you will be able to serve your customers and deliver real business value. A hybrid cloud architecture provides the data foundation for extending AI deep into the business. If the models contain bias, or if AI models are misleading, "hallucinate," or are not explainable, the risk and cost of reputational damage and regulatory fines could be high. Three opportunities to put AI into actionHere are the best opportunities to derive benefit from AI in your business today:1.

Persons: IBM Watson, Carhartt, Let's Organizations: IBM Consulting, IBM, Dutch Bank ABN AMRO, IT, Insider Studios

☆ ABN Amro Q1 net profit jumps 77% on higher rates and lower costs
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, May 10 (Reuters) - Dutch bank ABN Amro (ABNd.AS) on Wednesday beat analyst expectations with a 77% jump in first-quarter net profit to 523 million euros ($576 million), helped by rising interest rates and lower costs. Analysts in a company-compiled poll on average had predicted a net profit of 370 million euros for the first three months of 2023, up from 295 million euros a year before. Improving deposit margins drove net interest income up 24% to 1.6 billion euros, while impairments for bad loans fell to 14 million euros as economic growth in the Netherlands remained strong despite surging inflation. The lender was re-privatised in 2015, following a bailout during the 2008 financial crisis, but the Dutch state has held a majority stake since then. ($1 = 0.9084 euros)Reporting by Bart Meijer; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ ABN Amro announces 500 mln euro share buyback as Q4 profit beats forecasts
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Net profit of the largely state-owned bank dropped to 354 million euros in the last three months of 2022, down from 552 million euros the year before - but much better than the 105 million euros analysts on average had predicted in a company-compiled poll. Impairments were 74% lower than a year before at 32 million euros as economic growth in Europe held stronger than expected despite surging inflation. Since its bailout by the Dutch state in 2008, ABN has refocused its operations and orientation on the Dutch market, cutting thousands of jobs in the process. One of three dominant banks in the Netherlands, it was re-privatized in 2015, but the Dutch state still owns 56% of the shares and has sold none since September 2017. The state will participate in the share buyback, which has been approved by the European Central Bank and will maintain its relative stake, ABN said.

☆ Energy is 'less relevant' to inflation now, says ABN AMRO CEO
▼ + stars: | 2023-01-18 | 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 EmailEnergy is 'less relevant' to inflation now, says ABN AMRO CEORobert Swaak, CEO of Dutch bank ABN AMRO, gives his outlook for inflation, interest rates and the market for the year ahead during the World Economic Forum 2023.

☆ European shares ease from eight-week highs as U.S. midterm results pour in
▼ + stars: | 2022-11-09 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 index (.STOXX) fell 0.6% by 0930 GMT, with the retail sector index (.SXRP) down 1.1%. Britain's Marks & Spencer (MKS.L) slipped 3.6%, down the most on the sector index, as it warned of a "gathering storm" of higher costs and pressure on household budgets. Among other stocks, Germany's Commerzbank shed 5.2%, weighing down the banks index by 0.9%. German speciality chemicals maker Lanxess (LXSG.DE) dropped 3.6% as it cut the top end of its forecast range for annual profit on weaker demand. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Uttaresh.V and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ ABN Amro's Q3 profit jumps as interest income recovers
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: 1 min

AMSTERDAM, Nov 9 (Reuters) - Dutch bank ABN Amro (ABNd.AS) beat analysts' expectations on Wednesday, as it said net profit had more than doubled to 743 million euros ($747.98 million) in the third quarter, helped by rising interest rates and low impairments. Analysts in a company-compiled poll on average had predicted net profit would fall to 323 million euros for the July-September period, down from 343 million a year ago. ($1=0.9933 euros)Reporting by Bart Meijer; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

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