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☆ Europe's banks brace for tougher competition under Trump 2.0
▼ + stars: | 2024-11-09 | by ( ) www.cnbc.com time to read: +2 min

JPMorgan , Goldman Sachs and Morgan Stanley shares all soared while the STOXX Europe 600 Banks index is down more than 1% for the week. "If U.S. banks get the expected policy support, they could ramp up loan volumes and optimize capital in ways that Europe's banks just can't match right now," Materazzi said. Since early 2010, European banking shares have fallen 10%, while U.S. lenders have more than tripled. The European Central Bank has estimated that euro zone banks' return on equity fluctuates around 5%, against 10% in the U.S., linking it to higher U.S. fee income and legacy non-performing loans with which European banks still grapple. A wave of deregulation should give European banks some leverage to lobby for easing the rules in Europe, which are already more onerous, one banking executive told Reuters.

Persons: Boris Roessler, Donald Trump, Goldman Sachs, Morgan Stanley, David Materazzi, Materazzi, Karin Keller, Sutter, Rachel Reeves, Trump Organizations: Getty, JPMorgan, Galileo, European Central Bank, Trump . Swiss, Reuters, The Locations: Frankfurt, U.S, Britain, Basel, Italy, USA, Europe, The U.S

☆ Morning Bid: Autoworkers' walkout to test resilience of US economy
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +3 min

Brighter data from China meanwhile has helped lift sentiment across global markets, except for China, heading into the weekend. While Japan's Nikkei (.N225) rose 1% and European shares opened higher (.STOXX), China shares reversed earlier gains (.CSI300). European markets continued to cheer the likely end of the European Central Bank's rate hiking cycle. And even if the ECB suggested rates would stay higher for longer, markets are already looking past that to rate cuts as economic growth weakens. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Eric Cox, Nick Macfie Organizations: United Auto Workers, Ford Michigan Assembly Plant, REUTERS, General Motors, Ford, Chrysler, United, Workers, Japan's Nikkei, European, ECB, SoftBank's Arm Holdings, Nasdaq, Reuters Graphics Reuters, Uni of Michigan, Thomson, Reuters Locations: Wayne , Michigan, U.S, Australia, China

☆ Auto strike could be speed bump for hard-driving US economy
▼ + stars: | 2023-09-15 | by ( Dan Burns | ) www.reuters.com time to read: +4 min

"While that amount is large in nominal dollar terms, it would not be large enough to tip the economy into recession. In the end, the impact of a such a strike would be modest compared to previous generations," Brusuelas said. Other economists offered comparable estimates of the potential drag from a prolonged strike by the Big Three's full union membership. A full-blown strike "could push U.S. payroll growth temporarily negative," Michael Pearce, lead U.S. economist at Oxford Economics, wrote on Wednesday. Pearce also estimated a full strike lasting a month could cut U.S. auto output by nearly a third, much as it did during the 1998 strike.

Persons: Rebecca Cook, Detroit's, Joe Brusuelas, Brusuelas, Michael Pearce, Pearce, Dan Burns, Deepa Babington Organizations: UAW, General Motors Detroit, Hamtramck, REUTERS, General Motors, Ford, United Auto Workers, RSM, Big, Federal Reserve, Oxford Economics, Labor, payrolls, Thomson Locations: Hamtramck , Michigan, U.S

☆ UAW strike could brake hard-driving US economy
▼ + stars: | 2023-09-15 | by ( Dan Burns | ) www.reuters.com time to read: +5 min

"UAW on strike" signs lean against a pile of wood on the picket line outside the General Motors Detroit-Hamtramck Assembly in Hamtramck, Michigan, U.S. October 25, 2019. RSM estimates the U.S. economy would suffer a modest 0.2% drag to annualized growth of gross domestic product this quarter should the strike action last for a month, Brusuelas said. Other economists offered comparable estimates of the potential drag from a prolonged strike by the Big Three's full union membership. A full-blown strike "could push U.S. payroll growth temporarily negative," Michael Pearce, lead U.S. economist at Oxford Economics, wrote on Wednesday. Pearce also estimated a full strike lasting a month could cut U.S. auto output by nearly a third, much as it did during the 1998 strike.

Persons: Rebecca Cook, Detroit's, Joe Brusuelas, Brusuelas, Michael Pearce, Pearce, Dan Burns, Deepa Babington, Diane Craft Organizations: UAW, General Motors Detroit, Hamtramck, REUTERS, General Motors, Ford, United Auto Workers, RSM, Big, Reuters, Federal Reserve, Oxford Economics, Labor, payrolls, Thomson Locations: Hamtramck , Michigan, U.S

☆ International stocks offer a host of opportunities for investors, says Schwab’s Jeffrey Kleintop
▼ + stars: | 2023-09-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

While the U.S. equities market is having a strong year, international stocks are the more promising investment play, according to Jeffrey Kleintop, Charles Schwab's chief global investment strategist. "International stocks are outperforming U.S. for the second year in a row, and I think the thesis behind that is the U.S. is really [centered] on seven stocks. The "terrible" investor sentiment for international stocks has created a promising buy-in point for investors, said the strategist. The strategist added that in addition to the equity opportunities outside of the U.S., investors ought to consider bumping their bond allocation a bit higher. The answer is probably, no matter who you are, probably a little more than you have now," said Kleintop.

Persons: Jeffrey Kleintop, Charles Schwab's, Kleintop, CNBC's Bob Pisani Locations: U.S, Germany, Ukraine, Europe

☆ BP appeal requires more than short-term sweeteners
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, Aug 1 (Reuters Breakingviews) - Bernard Looney is throwing cash at BP’s (BP.L) shortcomings. In the three months to the end of June the $109 billion European oil major missed expectations by a wide margin, with net income falling 70% to $2.6 billion year-on-year. Wael Sawan, his counterpart at rival Shell (SHEL.L) who only took the helm this year, has refocused his company on “molecules” – from oil and gas to low-carbon hydrogen and biofuels. But Shell has done better, and Bernstein analysts recently estimated BP was trading at a yawning 87% discount to the sum of its parts. The risk for Looney is that if investors want to own one European oil major, it won’t be his.

Persons: Bernard Looney, Looney, Wael Sawan, Shell, Bernstein, won’t, Yawen Chen, Steve Cohen, ’, George Hay, Pranav Kiran Organizations: Reuters, Shell, outperforming, Exxon Mobil, Chevron, BP, Twitter, Sequoia, Thomson Locations: outperforming U.S, India

☆ US banks lose favor with European hedge funds, Goldman says
▼ + stars: | 2023-07-06 | by ( Carolina Mandl | ) www.reuters.com time to read: +3 min

Overall, shares in European banks are outperforming U.S. peers as they did not face the deposit flight experienced in the United States. "In Europe, hedge funds have rotated out of banks and insurance into financial services in the past couple of months, but still positioning in European banks remains stronger than in U.S. banks," Goldman Sachs said in the report obtained by Reuters. The data shows European investors are more bullish about banks on their own continent, while they have a more neutral approach to U.S. banks. The gap between European hedge funds' positioning in European and U.S. banks has widened mainly after a crisis this year in which U.S.-based bank Silicon Valley Bank and two other lenders failed. Short interest as a share of free float in U.S. banks grew to 2.3% in June from 1.8% in January, while staying stable for European banks, at 0.6%.

Persons: Goldman Sachs, Wells, Goldman, Morgan Stanley, Carolina Mandl, David Holmes, Clarence Fernandez Organizations: YORK, Dow Jones, Banks, Reuters, Silicon Valley Bank, UBS, Credit Suisse, Bridgewater Associates, JPMorgan & Co, Bank of America Corp, Wells Fargo & Co, Goldman Sachs Group Inc, Thomson Locations: U.S, United States, Europe, Silicon, Swiss

☆ US banks out of favor with European hedge funds, Goldman tells clients
▼ + stars: | 2023-07-05 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

NEW YORK, July 5 (Reuters) - European hedge funds have reduced their exposure to U.S. banks at a fast pace since the beginning of the year, while roughly keeping their positioning in European banks, Goldman Sachs (GS.N) said in a recent report sent to clients. Overall, shares in European banks are outperforming U.S. peers as they did not face a deposit flight as happened in the U.S. "In Europe, hedge funds have rotated out of banks and insurance into financial services in the past couple of months, but still positioning in European banks remains stronger than in U.S. banks," Goldman Sachs wrote in the report obtained by Reuters. The data show that European investors are more bullish about banks on their own continent, while they have a more neutral approach to U.S. banks. The gap between European hedge funds' positioning in European and U.S. banks has widened mainly after the banking crisis in which U.S.-based bank Silicon Valley Bank and two other lenders failed earlier this year.

Persons: Goldman Sachs, Wells, Goldman, Morgan Stanley, Carolina Mandl, David Holmes Organizations: YORK, U.S, Dow Jones, Banks, Reuters, Silicon Valley Bank, UBS, Credit Suisse, Bridgewater Associates, JPMorgan, Co, Bank of America Corp, Wells Fargo & Co, Goldman Sachs Group Inc, Thomson Locations: U.S, Europe, Silicon, Swiss

☆ Asia inflation has peaked, region's growth to overtake U.S. and Europe, Morgan Stanley says
▼ + stars: | 2023-06-15 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

Citing reasons for his optimism, he said Asia is expected to deliver healthier growth rates while the West lags behind. Asia inflation 'not as intense'"We're definitely expecting growth in these two economies to be constrained by the fact that they have had this significant inflation problem," Ahya said in reference to the U.S. and Europe. The U.S. inflation rate has been holding well above the Fed's 2% annual target. Chetan Ahya Chief Asia Economist at Morgan StanleyChina's consumption 'on track'Another driver of Asia's growth is China's projected recovery in the second half of the year. "We're expecting China's recovery to broaden out in second half of this year," Ahya said.

Persons: Kazuhiro Nogi, Morgan Stanley, Chetan Ahya, Ahya, We're Organizations: Mount Fuji, Afp, Getty, Federal Reserve, Asia, Nurphoto, People's Bank of China Locations: U.S, Europe, Asia, India, Indonesia, Japan, Central, China, Jakarta

☆ Global stocks outperforming U.S. markets in the first quarter
▼ + stars: | 2023-03-31 | 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 EmailGlobal stocks outperforming U.S. markets in the first quarterCNBC's Seema Mody joins 'Squawk on the Street' to report on why global stocks are outperforming the U.S. market this quarter.

☆ Analysis: The deep freeze over UK assets is thawing
▼ + stars: | 2023-02-13 | by ( Naomi Rovnick | ) www.reuters.com time to read: +4 min

"This does suggest a possible inflection point in sentiment towards UK assets," said Nick Kissack, a UK portfolio manager at Schroders, which manages roughly $910 billion of client funds. "We saw extreme levels of risk aversion," in September, he added, while "the risk premium for UK assets has come down since." That, in short, is an outlook of higher global interest rates, weak growth and high inflation. Reuters GraphicsHowever, analysts expect the FTSE 100's rise to falter with a stronger global growth outlook combined with waning energy inflation. "The UK is the standout global economy where growth prospects have not improved," said Baylee Wakefield, multi-asset portfolio manager at Aviva Investors, who expects gilts to continue outperforming Treasuries.

☆ Morning bid: Tech tonic, recession rethink
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +5 min

Pumped-up hopes for U.S. tech sector earnings in a heavy week for corporate updates generally have twinned with the latest sign Europe may have dodged a winter recession. With Microsoft in view, attention will be on the extent for cost cutting and job shedding in the tech and digital space. Music-streamer Spotify (SPOT.N) rose 2% on Monday as it joined a growing list of tech firms to announce staff cuts, shedding 6% of its workforce. Reports of Ford's F.N plan to cut 3,200 workers in Europe shows job attrition may not be confined to tech sector. Whether that's just too rosy and markets have yet to price a full-blown earnings recession is this year's big question.

☆ This asset class is outperforming U.S. stocks in 2023, and you may be missing out
▼ + stars: | 2023-01-19 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

It's a continuation of a relatively strong 2022 in which foreign stocks shed 14.5% compared with an 18% loss for U.S. names . "International stocks are set up quite well," says Ross Mayfield, an investment strategy analyst at Baird Private Wealth Management. Investing experts point to a handful of factors that have boosted the performance of international stocks of late. "Now that it's come back down, it's relieved a lot of the pressure on international stocks." "The sector mix for international stocks is more compatible with the economy we've seen," says Mayfield.

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