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☆ Asia shares pick up after Fed rate comments; oil dips
▼ + stars: | 2023-10-10 | by ( Kane Wu | ) www.reuters.com time to read: +4 min

U.S. stocks ended higher on Monday, with energy shares rising along with oil prices. The S&P 500 energy index (.SPNY) ended up 3.5%. Oil prices eased after climbing more than 4% on Monday. "The unrest and volatility in the near-term suggest that upside risks to oil prices will persist," said OCBC economists in a note. This will lead to some volatility in oil prices during intense periods of conflict but should see prices normalize, following the knee-jerk reaction."

Persons: Androniki, Kerry Craig, Australia's, Brent, Kane Wu, Stella Qiu, Edmund Klamanhn, Kim Coghill Organizations: Nikkei, REUTERS, dovish, Top Fed, Hamas, Asset Management, Garden Holdings, HK, National Bank of Australia, U.S, West Texas, Thomson Locations: Tokyo, Japan, HONG KONG, East, Europe, U.S, Asia Pacific, China, Israel, Palestinian, Gaza, Hong Kong, Sydney

BANGKOK (AP) — Crude oil prices surged and share prices were mostly lower on Monday after the Israeli government declared war following deadly attacks by Hamas from the Gaza Strip. Oil prices fell back slightly after gaining more than $3 a barrel. Conflict in the Middle East often pushes oil prices higher given the risk of disruptions to supplies. Wall Street hates high interest rates because they hurt prices for all kinds of investments. It means the economy is still doing well despite high rates, which could support corporate profits.

Persons: ” Stephen Innes, Brent, Germany's DAX, Australia's, India's Sensex, Lloyd Austin, GM, JPMorgan Chase, Jon Gambrell Organizations: Management, New York Mercantile Exchange, Israel’s, Bank, U.S ., CAC, Dow, U.S . Defense, Ford, Wall Street, Federal Reserve, Nasdaq, Fed, General Motors, United Auto Workers, Detroit’s, Delta Air Lines, JPMorgan, UnitedHealth Group Locations: BANGKOK, Gaza, Tel, Paris, London, Shanghai, Hong Kong, Bangkok, Tokyo, Palestinian, Israel, Jerusalem

☆ US stocks skid, oil surges on Middle East conflict
▼ + stars: | 2023-10-09 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

In particular, there was a chance oil supplies from Iran might be disrupted, they added. "Given the tightness already facing physical oil markets in Q4 2023, an immediate reduction in Iran's oil exports risks pushing Brent futures above $US100/bbl in the short term." Early Monday, markets seemed to think developments in the Middle East would lean against further Fed hikes, and perhaps hasten a policy easing next year. The news from the Middle East could sour the start of corporate earnings season with 12 S&P 500 companies reporting this week including JP Morgan, Citi, and Wells Fargo. "Near-trend economic growth and moderating inflation pressures will support modest sales growth and slim margin improvement," Goldman analysts aid in a note.

Persons: Androniki, Brent, Israel, JP Morgan, Goldman Sachs, Goldman, Wayne Cole, Shri Navaratnam, Sonali Paul Organizations: Nikkei, REUTERS, CBA, bbl, Nasdaq, Reserve, Citi, Thomson Locations: Tokyo, Japan, SYDNEY, Asia, South Korea, Iran, Gaza, Pacific, China, Wells

☆ GSK raises $1.1 billion from Haleon stake sale
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsOct 6 (Reuters) - British drugmaker GSK (GSK.L) on Friday said it raised 885.6 million pounds ($1.08 billion) from a discounted stake sale in Haleon (HLN.L), cutting its shareholding to 7.4% in the world's largest standalone consumer healthcare firm. The sale of 270 million shares at 328 pence apiece, represented a discount of about 2.5% to Haleon's last close of 336.25 pence on Thursday. Shares in Haleon were down 1.2% while GSK was marginally up 0.4% at 0800 GMT. Pfizer, which holds a 32% stake in Haleon, said in May it plans to cut its ownership in a "slow and methodical" manner within months. The British drugmaker and Pfizer have agreed to not sell any further Haleon shares for 60 days from the settlement of placing.

Persons: Dado Ruvic, Emma Walmsley, Prerna Bedi, Sonia Cheema, Elaine Hardcastle Organizations: GSK, GlaxoSmithKline, REUTERS, British, AstraZeneca, London Stock Exchange, Pfizer, Thomson Locations: Haleon, British, Bengaluru

TOKYO (AP) — Global shares mostly rose Friday in cautious trading ahead of an update on the U.S. jobs market. U.S. futures and oil prices were little changed. “The sentiment of unease prevails as the market awaits the release of the U.S. employment report later today,” said Anderson Alves at ActivTrades. Market attention also remains on oil prices, which have fluctuated recently and will have major effects on how central banks act on interest rates. On Thursday, Wall Street drifted to a quiet close on worries over inflation and interest rates.

Persons: Germany's DAX, Australia's, Seng, ”, Anderson Alves, Stocks, acquiesce, Brent Organizations: TOKYO, — Global, CAC, Dow, Nikkei, China, Investors, Federal, Dow Jones, Nasdaq, Federal Reserve, U.S Locations: Tokyo, China, Hong, Hong Kong, U.S, ActivTrades

☆ Imperial Brands sticks by forecast, announces $1.3 bln share buyback
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

A woman poses with a cigarette in front of Imperial Brands logo in this illustration taken July 26, 2022. The company also announced a share buyback of 1.1 billion pounds ($1.34 billion). Rival British American Tobacco (BATS.L) has lost more than 24% of its share value. In recent years, Imperial Brands has focused on its top five markets and expanding next-generation products deemed less harmful to health. ($1 = 0.8230 pounds)Reporting by Eva Mathews in Bengaluru; Editing by Nivedita Bhattacharjee, Krishna Chandra Eluri and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, buyback, Hargreaves, Derren Nathan, Winston, blu vapes, Richard Hunter, Eva Mathews, Nivedita Bhattacharjee, Krishna Chandra Eluri, Michael Perry Organizations: Imperial Brands, REUTERS, FTSE, British American Tobacco, Interactive, Thomson Locations: Bengaluru

☆ Government bonds are in a rout worldwide. Here's why you should care
▼ + stars: | 2023-10-04 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

When official interest rates rise, so do investors’ expectations for returns on bonds, known as yields. In the United Kingdom, the yield on 30-year bonds also reached 5% this week, the highest level in more than two decades. Yields on Italy’s 10-year bonds hit 5% on Wednesday, the highest level since 2012, when that crisis was in full swing. Mortgage rates riseThe yields on local government bonds are usually used by banks to price mortgages. High official interest rates in America and Europe have also raised the cost of borrowing for businesses.

Persons: Saul Loeb, Liz Truss, —, Matt Cardy, Freddie Mac, Andrew Sheets, Morgan Stanley, Stocks, ” Russ Mould, AJ Bell, we’ve, ”, “, That’s, ” Susannah Streeter, Hargreaves Lansdown Organizations: London CNN, US Treasury Department, Getty, UK, CNN, Nasdaq, Federal Reserve, BlackRock, Hargreaves Locations: Washington ,, United Kingdom, Bath, England, United States, Europe, America

☆ CNBC Daily Open: Something else is breaking in markets
▼ + stars: | 2023-10-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

A trader works on the floor of the New York Stock Exchange during opening bell in New York City on August 21, 2023. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] Railed by ratesHigher-for-longer interest rates are really starting to hit markets hard. It's very broad swaths of the stock and bond markets that are seeing new 52-week lows, as CNBC Pro's Bob Pisani observes — and explains why they've been hitting troughs.

Persons: Dow, Republican Kevin McCarthy, Matt Gaetz, Patrick McHenry, McCarthy, Bob Pisani, —, they've Organizations: New York Stock Exchange, CNBC, Dow Jones, Treasury, U.S ., Intel, Solutions, House, U.S . House, Republican Locations: New York City

For his manager, Barrie Chapman, the overtime he now gets is a huge boost once unheard of in the hospitality sector. At its "Alcampo Lounge" venue in Brighton, staff can get a free meal per shift, flexible hours, bonuses, and overtime for salaried employees. "There's been a trend in hospitality to work staff hard, to not treat them very well, because there was always another person that would come in," said head chef Chris Lloyd-Rogers. "That's why people leave work, and it's what brings people back," Wilson said. Recruitment website Indeed said its regular survey of job seekers showed that the most highly valued benefits were flexible working and sick pay.

Persons: Josh Hughes, Davies, Barrie Chapman, Jen Eaton, Nick Collins, Eaton, Chapman, Hughes, Spencer, Britain's, Loungers, There's, Chris Lloyd, Rogers, Tony Wilson, Wilson, Sarah Findlater, Fiona Walters, Amit Puntambekar, Puntambekar, James Davey, Kate Holton, David Milliken, David Clarke 私 Organizations: Reuters, Amazon, Tesco, Global, Office, National Statistics, Britain, EU, Institute for Employment Studies, Organisation for Economic Co, IES Locations: BRIGHTON, England, Brighton, Britain, Cambridge, London

☆ British Land says Meta surrenders lease at one London building
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

Facebook's new rebrand logo Meta is seen on smartphone in front of displayed logo of Facebook, Messenger, Instagram, Whatsapp and Oculus in this illustration picture taken October 28, 2021. The property firm said the lease surrender would lead to an earnings per share dilution of about 0.6 pence for its half-year period ending Sept. 30. British Land said 1.2 million square feet of leasing was done across the portfolio in the first five months to Aug. 31, with the returns coming in 13.1% ahead of estimated rental value (ERV). The company last week raised its retail park estimated rental value growth outlook for fiscal year 2024 to 3%-5% from 2%-4% earlier, driven by "significant" leasing momentum in the business. Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Aby Jose Koilparambil, Varun Organizations: Facebook, REUTERS, FTSE, Land, Thomson Locations: Bengaluru

☆ Aviva agrees to buy AIG's UK protection business for $563 million
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

A pedestrians walks past the Aviva logo outside the company head office in the city of London, Britain March 7, 2019. REUTERS/Simon Dawson/file photo Acquire Licensing RightsLONDON, Sept 25 (Reuters) - British insurer Aviva (AV.L) said on Monday it had agreed to acquire the UK protection business of AIG (AIG.N) for 460 million pounds ($563 million). Aviva said it would buy the unit - known as AIG Life UK - from Corebridge Financial, Inc (CRBG.N), a New York-listed subsidiary of AIG. The transaction will add 1.3 million individual protection customers and 1.4 million group protection members, Aviva said, with the deal expected to close in the first half of 2024, subject to regulatory approvals. The deal would represent around a 5 percentage point cut to Aviva's group solvency II cover ratio, the company said.

Persons: Simon Dawson, Amanda Blanc, Iain Withers, Louise Heavens Organizations: Aviva, REUTERS, AIG, AIG Life, Corebridge, Inc, Thomson Locations: London, Britain, British, New York

☆ Aviva to buy AIG's UK life insurance business for $563 million
▼ + stars: | 2023-09-25 | by ( Iain Withers | ) www.reuters.com time to read: +2 min

A pedestrians walks past the Aviva logo outside the company head office in the city of London, Britain March 7, 2019. REUTERS/Simon Dawson/file photo Acquire Licensing RightsLONDON, Sept 25 (Reuters) - Aviva (AV.L) said on Monday it had agreed to buy the UK life insurance business of AIG (AIG.N) for 460 million pounds ($563 million), in the largest acquisition to date by the British insurer's CEO Amanda Blanc. Aviva said it would buy the unit - known as AIG Life UK - from Corebridge Financial, Inc (CRBG.N), a New York-listed company majority-owned by AIG. Corebridge was formed in 2021 when AIG spun off its life and retirement business and sold a portion of the company to Blackstone for $2.2 billion. AIG took Corebridge public in September last year, in a share offering that raised $1.7 billion.

Persons: Simon Dawson, Amanda Blanc, Blanc, Peter Zaffino, Corebridge, Iain Withers, Louise Heavens Organizations: Aviva, REUTERS, AIG, British, AIG Life, Corebridge, Inc, RBC, Blackstone, Thomson Locations: London, Britain, New York, Singapore, United States

☆ Take Five: An inflationary dilemma
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +5 min

The week ahead brings more evidence of how much progress is left for developed-economy policymakers, while in the emerging world, India is set to enter the bond-market big time and a raft of central banks wrestle with a dilemma. The personal consumption expenditures (PCE) price index rose 3.3% in the 12 months through July. Line chart with data from LSEG Datastream show the U.S.'s inflation on personal consumption expenditures (PCE), core PCE inflation and the federal funds target rate from 2019 to 2023. Reuters Graphics5\ASIA'S CURRENCY CONUNDRUMAsian central banks have a dilemma: how to handle weakening economic growth and peaking inflation, while arresting the slide in currencies to maintain stability in their financial systems. But much may rest on decisions of other central banks further afield, namely the Federal Reserve.

Persons: Lewis Krauskopf, Naomi Rovnick, Karin Strohecker, Amanda Cooper, Perry Warjiyo, Toby Chopra Organizations: Federal, Fed, European Central Bank, ECB, Reuters, CLUB India, JPMorgan, Russell, Bank of, Bank, Thailand, Reserve, Thomson Locations: India, Vidya Ranganathan, Singapore, New York, London, Washington, U.S, Saudi Arabia, Russia, Bank of Indonesia, Philippine

☆ European shares slide on hawkish Fed; more c.bank decisions on tap
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

Summary STOXX 600 down 0.6%Sept 21 (Reuters) - European shares fell on Thursday, tracking overnight losses on Wall Street after the U.S. Federal Reserve signalled higher-for-longer interest rates and ahead of rate decisions from the Swiss National Bank, Riksbank, Norges Bank and Bank of England. The pan-European STOXX 600 index (.STOXX) shed 0.6% by 0709 GMT, with rate-sensitive tech stocks (.SX8P) easing 0.8%. The Fed held key interest rates steady on Wednesday, as widely expected, and revised economic projections higher with warnings that the battle against inflation was far from over. The focus is now also on the monetary policy decisions in Switzerland, Sweden, Norway and the UK later in the day after the European Central Bank (ECB) raised its key interest rate last week to a record high of 4%. Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Bansari Mayur, Savio D'Souza Organizations: U.S . Federal Reserve, Swiss National Bank, Norges Bank and Bank of England, Fed, Nasdaq, European Central Bank, FTSE, Thomson Locations: Riksbank, Switzerland, Sweden, Norway, Bengaluru

☆ UK stocks open lower after Fed's hawkish stance; BoE on watch
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. The blue-chip FTSE 100 index (.FTSE) was down 0.5% by 0710 GMT, while mid-cap stocks (.FTMC) dipped 0.4%. The Fed held its interest rates steady on Wednesday, but stiffened a hawkish monetary policy stance that its officials increasingly believe can succeed in combating inflation. Asian stocks tracked the lacklustre mood in U.S. peers on Wednesday after the Fed revised its economic projections. JD Sports Fashion (JD.L) climbed nearly 6% to the top of FTSE 100 after the sportswear retailer forecast a higher annual profit.

Persons: Toby Melville, BoE, Siddarth, Sherry Jacob, Phillips Organizations: London Stock Exchange Group, City of, REUTERS, Treasury, Federal Reserve, Bank of, Fed, Bank of England, Thomson Locations: City, City of London, Britain, London, Bengaluru

☆ Reactions: Bank of England bashes pound after halting rate rises
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +8 min

A pedestrian carrying an umbrella walks near the Bank of England in the City of London, Britain, July 30, 2023. Investors had already rushed on Wednesday to reel in their bets on further UK rate rises after data showed UK inflation cooled surprisingly quickly in August. Against the euro , the pound was down 0.5% at 86.74 pence, having traded around 86.70 pence before the decision. "The MPC still refers to its flexibility to react should things change, but the chances are this could be the peak in this UK interest rate cycle." "However, there is a risk that the ‘lag effect’ on interest rate hikes means that today’s decision may not be felt for another 9 to 12 months."

Persons: Hollie Adams, Sterling, THOMAS, Huw Pill's, HUGH GIMBER, PHILIP SHAW, DOUGLAS GRANT, JEREMY BATSTONE, CARR, RAYMOND JAMES, FRANCES HAQUE, JOE TUCKEY, RICHARD GARLAND, GILES COGHLAN, BoE, stagflation, Amanda Cooper, Dhara Organizations: Bank of England, City of, REUTERS, London, Investors, Bank of, Bank, MPC, SANTANDER, LONDON, Core CPI, PMI, CPI, EMEA, Thomson Locations: City, City of London, Britain, London, MANX, EUROPEAN, FRANCE, GROUP, OXFORDSHIRE

☆ Stocks stalled as oil surge sets stage for longer US rate peak
▼ + stars: | 2023-09-20 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

But at $93.52 a barrel, prices remain up 30% in three months as Saudi Arabia and Russia reduce output. Benchmark 10-year Treasury yields had hit their highest since 2007 at 4.371% overnight and were last at 4.36%. The yen is down 11% on the dollar this year as expectations firm for U.S. rates to stay high and Japanese rates to stay low. The yen hit a 10-month trough of 147.95 to the dollar late last week and it traded at 147.85 on Wednesday. Rising yields have kept a lid on gold prices, with spot gold last trading at $1,929 an ounce.

Persons: Brent, Stocks, Jerome, Sam Rines, Powell presser, Masato Kanda, Eugene Low, Miral Fahmy, Jamie Freed Organizations: Federal Reserve, Brent, FTSE, Japan's Nikkei, Bank of, New Zealand, Thomson Locations: SINGAPORE, Asia, Saudi Arabia, Russia, Pacific, Japan, Hong Kong, China, Texas, Sweden, Switzerland, Norway, Britain, U.S, Singapore, Australia, Argentina

☆ London stocks open higher on surprise CPI data
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. The exporter-heavy FTSE 100 (.FTSE) rose 0.6% by 0705 GMT, while the sterling weakened 0.4% against the U.S. dollar, hitting its lowest levels since May. Britain's annual consumer price inflation (CPI) unexpectedly fell to 6.7% last month from 6.8% in July, data showed, while economists polled by Reuters had forecast CPI would rise to 7.0%. M&G (MNG.L) gained 3.3% after the insurer posted a better- than-expected 31% rise in its first-half operating profit. Mid-cap stocks (.FTMC) soared 1.4%, boosted by a 3.8% rise in Dunelm Group Plc (DNLM.L) after the homeware retailer said it expected higher sales volumes to drive earnings in 2024.

Persons: Toby Melville, BoE, Siddarth, Rashmi Organizations: London Stock Exchange Group, City of, REUTERS, Bank of England, U.S ., Reuters, Dunelm, Thomson Locations: City, City of London, Britain, Bengaluru

☆ House prices are falling and rents are rising in the UK. These 2 stocks will benefit, analysts say
▼ + stars: | 2023-09-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Falling house prices and rising rents are expected to benefit two U.K. stocks focused on the private rented sector: The PRS REIT PLC and Grainger PLC , according to stock analysts. Those contrary trends of declining house prices and surging rents have created a favorable environment for companies owning rental housing — like PRS REIT and Grainger. Jefferies has forecast 9% rental growth for PRS REIT in 2023, while Berenberg expects continued "strong organic rental growth to result in continued earnings growth, despite increasing finance costs." The investment banks also pointed to high occupancy rates for the two landlords: 97-98% for PRS REIT and 98.7% for Grainger. PRS REIT shares have dropped 21% in the past year, far above the 2.1% decline for the FTSE 250 index.

Persons: Grainger, PRS REIT, Jefferies, Berenberg, Numis, Mike Prew Organizations: PRS REIT PLC, Grainger PLC, National Statistics, PRS, PRS REIT, Grainger Locations: London

Omar Abbosh, chief strategy officer at Accenture, speaks during the annual Cyberweek conference at Tel Aviv University, Israel June 20, 2016. Abbosh, 57, will take over the reins early in 2024 from Bird, 59, whose strategy of selling directly to consumers helped Pearson out of a tumultuous few years during the pandemic. Shares in Pearson were down 5.2% at 838 pence in morning trading in London. Bird sought to sharpen Pearson's focus to selling directly to consumers and away from traditional educational outlets as the pandemic boosted demand for online learning. Pearson would compensate Abbosh for leaving Microsoft, including cash and an award of restricted shares equivalent to a maximum of 50,813 Microsoft shares or about 13 million pounds ($16.06 million) at the current price and foreign exchange rates, it said.

Persons: Omar Abbosh, Amir Cohen, Bird, Pearson, Andy Bird, Abbosh, it’s, Hargreaves, Sophie Lund, Yates, Yadarisa Shabong, Eva Mathews, Janane Venkatraman, Jason Neely, Bernadette Baum Organizations: Accenture, Tel Aviv University, Israel, REUTERS, Microsoft, Pearson, Apollo, Microsoft's Industry Solutions, Walt Disney Co, British, Thomson Locations: Abbosh, Bird, London, Bengaluru

Oil prices continued to push higher, with the international benchmark Brent crude price moving past $95 to its highest since November 2022. Reuters GraphicsInvestors and central bankers are contending with a sharp rise in oil prices as demand has picked up but Saudi Arabia and Russia have limited supply. Samuel Zief, head of global FX strategy at JPMorgan Private Bank, said central banks should not be overly concerned by the run-up in oil prices, which he said should fade as economies slow. "What the central banks are really, really focused on, it's not really the supply-side energy shocks anymore, it's really the sticky services part of the inflation basket," he said. "Pick whatever central bank you want, they're talking about either they're done already or they'll do one more hike and they'll go on pause."

Persons: Germany's DAX, Duncan MacInnes, Jerome Powell's, Samuel Zief, it's, Kazuo Ueda, Harry Robertson, Kevin Buckland, Lewis Jackson, Stephen Coates, Bernadette Baum, Chizu Organizations: Federal Reserve, Bank of England, Bank of Japan, Brent, FTSE, Nasdaq, Reuters Graphics Investors, . West Texas, JPMorgan Private Bank, of England, Bank of, Japan's Nikkei, Tokyo, Reuters, Thomson Locations: TOKYO, Asia, Japan, U.S, Saudi Arabia, Russia, Bank of Japan, London, Tokyo

☆ The head quant strategist at a $194 billion firm shares 4 trades he sees delivering at least 6% returns over each of the next 5 years as a recession gets ready to hit the US economy next year
▼ + stars: | 2023-09-19 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Next, Swinkels likes developed market equities, which include stocks in countries like France, Germany, the UK, Australia, Japan, and more. The iShares MSCI EAFE ETF (EFA) offers exposure to developed market stocks outside of the US and Canada. Exchange-traded funds like the Schwab Emerging Markets Equity ETF (SCHE) or the Vanguard FTSE Emerging Markets ETF (VWO) are one way to invest in emerging market stocks. "The CAPE ratio of global real estate is currently 13.3, well below its average of 19.4 since 2000," Swinkels said. One way to invest in real estate without buying properties directly is through real-estate investment trusts, also known as REITs.

Persons: Laurens Swinkels, Peter van der, Swinkels, we've Organizations: Federal, iShares, Yield Corp, Exchange, Schwab, Equity, Vanguard FTSE, Markets, Simon Property Group Locations: France, Germany, Australia, Japan, Canada, China, Brazil, India, Saudi Arabia

☆ Rates are rising in Europe. HSBC names the region's 'most and least vulnerable stocks'
▼ + stars: | 2023-09-19 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

CNBC Pro takes a look at the bank's two screens of "the most and least vulnerable" stocks: one for "cash-rich" companies and the other for "high leverage" names. 'Cash-rich' names HSBC named "cash-rich companies relatively immune to rising borrowing rates." HSBC's screens in this category include French luxury goods label Hermes International , with a net debt of 9,222 euros ($9,834.11), British food processing company Associated British Foods (net debt of 1,709.39 euros) and Swiss biotech player Bachem Holding (net debt of 271.15 euros). Names with high debt HSBC also screened for companies with high leverage, meaning high net debt to equity and net debt to EBITDA ratios. Companies with high debt are seen to be vulnerable to further rises in interest rates.

Persons: Snam, — CNBC's Michael Bloom Organizations: British, HSBC, CNBC Pro, Companies, Hermes, British Foods, Bachem, Nokia, Daimler Truck Holding, Imperial Brands, Benz Group Locations: Europe, Swiss, Finnish

☆ FTSE 100 slips at open ahead of Fed, BoE monetary policy decisions
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies FTSE 100 down 0.1%, FTSE 250 off 0.2%Sept 18 (Reuters) - UK's FTSE 100 slipped at open on Monday as investors await interest rate decisions from the U.S. Federal Reserve and the Bank of England (BoE), while Britain's main manufacturing trade body cut its forecast for the sector's growth for this year. The exporter-heavy FTSE 100 (.FTSE) slipped 0.1% by 0712 GMT, while the mid-cap FTSE 250 (.FTMC) was down 0.2%. Britain's main manufacturing trade body cut its forecast for the sector's growth for this year and next, citing a sharp fall in factory output and economic uncertainty. Reporting by Siddarth S in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, BoE, Siddarth, Savio D'Souza Organizations: London Stock Exchange Group, City of, REUTERS, U.S . Federal Reserve, Bank of England, Phoenix Group, Mondi, Sezar, Thomson Locations: City, City of London, Britain, Russia, Moscow, Bengaluru

☆ Naspers & Prosus CEO steps down, M&A chief Ervin Tu is successor
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

Bob van Dijk, CEO of e-commerce group Naspers, poses for a photograph in front of the company logo after holding a media briefing in Johannesburg, South Africa, October 9, 2019. The companies named investment chief Ervin Tu, a previous VisionBank manager and Goldman Sachs technology banker, as interim CEO. However it coincides with the unwinding Monday of a cross-structure between Prosus and Naspers. Van Dijk oversaw Prosus's 2019 IPO and the company's stock boomed during the COVID-19 pandemic. However he struggled to close a valuation gap between Prosus, Naspers and the value of their biggest asset: Chinese software giant Tencent(0700.HK) .

Persons: Bob van Dijk, Siphiwe, Ervin Tu, Goldman Sachs, Naspers, Van Dijk's, van Dijk, Van Dijk, Prosus, Tannur Anders, Toby Sterling, Radhika Anilkumar, Sherry Jacob, Phillips, Stephen Coates, Michael Perry, Louise Heavens Organizations: REUTERS, Rights, Prosus NV, Johannesburg Stock Exchange, HK, Thomson Locations: Johannesburg, South Africa, Rights JOHANNESBURG, Prosus, Tencent, Russia, Ukraine, Amsterdam, Bengaluru

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