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☆ Here are 7 beaten-up global stocks that analysts expect to double
▼ + stars: | 2023-08-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

While stock markets worldwide have rallied this year on fading fears of a global recession, a number of stocks have been left behind. However, the London-listed company's stock is expected to rise by 143% over the next 12 months, according to the consensus price target of six analysts. Brooke expects the outperform-rated shares to rise by more than 150% to 50p (£0.50, or $0.64) over the next 12 months. Vanquis' stock went another leg lower after it announced the departure of its CFO earlier this month. However, the median average of analyst price targets points to an upside potential of 148% over the next 12 months.

Persons: —, Andrew Brooke, Brooke, Helios Towers, Helios, Jefferies, Giles Thorne, Thorne Organizations: CNBC Pro, FTSE, Capita, Capital Markets, Banking, Provident Financial, Helios Locations: London, Africa

☆ London's FTSE 100 pressured by pound after surprise Q2 GDP growth
▼ + stars: | 2023-08-11 | 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 PhotoSummary FTSE 100 down 0.6%, FTSE 250 off 0.2%Aug 11 (Reuters) - London's exporter-heavy FTSE 100 index opened lower on Friday, pressured by a stronger pound after data showed the UK's economy surprisingly grew higher-than-expected in the second quarter. Data showed Britain eked out unexpected growth in the second quarter, helped by a strong June performance. It grew 0.2% in the second quarter, against the consensus for a flat reading in a Reuters poll of economists. The FTSE 100 (.FTSE) fell 0.6%, while the sterling broke three straight days of losses after the data.

Persons: Toby Melville, Stuart Cole, Siddarth, Varun Organizations: London Stock Exchange Group, City of, REUTERS, Britain, FTSE, Equiti Capital, Thomson Locations: City, City of London, Britain, Bengaluru

☆ Stock Market Today: Dow Futures Waver Ahead of PPI Data -- Live Updates
▼ + stars: | 2023-08-11 | by ( ) www.wsj.com time to read: +1 min

Stock futures wavered as investors awaited another reading on inflation. Stocks got a small bump yesterday after the consumer-price index showed modest underlying price pressures . Stock futures oscillated. Gilts led a selloff in European government bonds, the FTSE 100 slid and the pound rallied, after data showed the U.K. economy grew last quarter. The Shanghai Composite Index lost 2% after data showed a steep drop in new loans issued by Chinese banks, signaling that credit demand remains weak.

Persons: Stocks, Gilts Organizations: Stock, Nasdaq, Dow, Bank of England, UBS, Credit Suisse, Overseas Locations: U.S, Swiss, Europe, Shanghai

"We're going to see our first rise in headline inflation after 12 consecutive months of falling prices," said Ben Laidler, global markets strategist at eToro. The pan-European benchmark STOXX 600 (.STOXX) rose 0.5%, supported by gains in the luxury sector (.STXLUXP) after China lifted a ban on group tours in the United States and other key markets. In currency markets, the dollar index , which measures the U.S. currency against six peers, eased 0.4%. "We've got $1 trillion coming down the pipe over the next three months," eToro's Laidler said. "Any sign that markets are absorbing that well, which we got the first signs of yesterday, will be very well taken."

Persons: Ben Laidler, Laidler, Germany's DAX, Rodrigo Catril, We've, eToro's Laidler, Bond, Brent, Samuel Indyk, Ankur Banerjee, Edwina Gibbs, Sam Holmes, Susan Fenton, Alexandra Hudson Organizations: Silicon Valley Bank, Credit Suisse, Reuters, CAC, FTSE, Wall, National Australia Bank, U.S, Treasury, Alexandra Hudson Our, Thomson Locations: Frankfurt, Silicon, China, United States, Europe's, Europe, CHINA, U.S, Asia, Pacific, Japan, Beijing, Saudi Arabia, Russia

☆ European stocks outperform as Italy soothes bank tax nerves
▼ + stars: | 2023-08-09 | by ( Naomi Rovnick | ) www.reuters.com time to read: +4 min

[1/2] Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. MSCI's broad index of global shares (.MIWD00000PUS) was 0.2% higher in European afternoon trade. Europe's regional Stoxx 600 (.STOXX) share index rose 0.9%, with bank stocks (.SX7P) around 1.6% higher. Italy's FTSE MIB share index gained 1.8%. "The burden-sharing of the costs and benefits from higher rates has a habit of becoming a political issue," Deutsche Bank strategist Jim Reid said.

Persons: Toby Melville, Jim Reid, China's, Naomi Rovnick, Stella Qiu, Sydney, Ellen Zhang, Christina Fincher, David Evans Organizations: London Stock Exchange, REUTERS, China CPI, Wall Street, Deutsche Bank, Federal Reserve, Nasdaq, Moody's, U.S . National Federation of Independent, Wednesday, U.S . Treasury, BCA, Reserve, Brent, U.S . West Texas, Thomson Locations: Canary Wharf, London, Britain, China, Italy, Thursday's U.S, U.S, Saudi Arabia, Beijing

☆ Britain's Bellway says new home sales to fall 'materially'
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toby Melville/File PhotoAug 9 (Reuters) - Britain's Bellway (BWY.L) said on Wednesday it would build fewer homes this year and warned that it expects sales completions to drop "materially" amid a sharp housing sector slowdown triggered by higher mortgage rates. Bellway said it built 10,945 homes in the fiscal year ended July 31, slightly down from the guidance of 11,000 units. "In the current financial year, given the level of the order book and prevailing low reservation rates, legal completions are expected to decrease materially," it said in a statement. Bellway, whose builds range from one-bedroom apartments to six-bedroom family homes, said its full-year overall reservation rate fell 28.4% to 156 per week, and it also saw a steep fall from 190 units during the Feb. 1-June 4 period. Bellway's mid-cap competitors Crest Nicholson (CRST.L) and Vistry (VTYV.L) have said high mortgage rates were hampering demand from first-time buyers.

Persons: Toby Melville, Bellway, Barratt, Aby Jose Koilparambil, Suban Abdulla, Subhranshu Sahu, Paul Sandle, Alexander Smith Organizations: REUTERS, FTSE, Berkeley, Thomson Locations: London, Britain, Newcastle, England, Bengaluru

☆ Asian shares weaken slightly on China deflation risk, bank jitters
▼ + stars: | 2023-08-09 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

In Asia, the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged 0.2% higher, following a 1.2% tumble a day earlier. Producer prices fell for a 10th consecutive month. "It is not likely to see China entering a full deflation path as core CPI is still resilient and driven by services." "Having said that, if we do not see further improvement in consumer sentiment, it is possible to see growing deflation risks in China." Brent crude futures eased 0.2% to $86.00 per barrel and U.S. West Texas Intermediate crude futures also fell 0.2% to $82.73.

Persons: Issei Kato, Gary Ng, HSI, Chetan Ahya, Morgan Stanley, Dow, Stella Qiu, Ellen Zhang, Jamie Freed, Edmund Klamann, Simon Cameron, Moore Organizations: REUTERS, Nasdaq, Japan's Nikkei, PPI, Asia Pacific, Reuters, Wall, U.S, Brent, . West Texas, Thomson Locations: Tokyo, Japan, China, SYDNEY, Italy, Asia, Pacific, Hong Kong, Brazil, Beijing

☆ Asian shares hesitant on China deflation risk, bank jitters
▼ + stars: | 2023-08-09 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

The MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged 0.4% higher after a 1.2% tumble a day earlier. Closely watched China data on Wednesday showed consumer prices fell 0.3% in July from a year ago, the first decline since February 2021, although it was slightly better than the forecast of a 0.4% drop. Producer prices fell for a 10th consecutive month. 10-year yields slipped 2 basis points to 4.004%, after falling 5 basis points overnight to as low as 3.9840%, a one-week trough. Brent crude futures eased 0.2% to $86.02 per barrel and U.S. West Texas Intermediate crude futures also fell 0.2% to $82.73.

Persons: Issei Kato, Carol Kong, Kong, Chetan Ahya, Morgan Stanley, Dow, Stella Qiu, Jamie Freed, Edmund Klamann Organizations: REUTERS, Japan's Nikkei, Commonwealth Bank of Australia, Wall, Nasdaq, U.S, Brent, . West Texas, Thomson Locations: Tokyo, Japan, China, SYDNEY, Italy, Asia, Pacific, Hong Kong, Brazil

☆ FTSE 100 opens lower as Glencore, bleak China data weigh
▼ + stars: | 2023-08-08 | 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 PhotoSummaryCompanies FTSE 100 down 0.2%, FTSE 250 flatAug 8 (Reuters) - London stocks opened lower on Tuesday hurt by the losses in Glencore after the miner's dour first-half earnings, while bleak China trade data also hit the broader mining sector. The FTSE 100 index (.FTSE) dipped 0.2% by 0709 GMT, with Glencore (GLEN.L) falling 3.0% as it said its earnings had halved in the first half. Asset manager abrdn (ABDN.L) slipped 4.5% to the bottom of the FTSE 100 after it reported a drop in its assets under management. The midcap FTSE 250 index (.FTMC) was flat, while bank stocks (.FTNMX301010) shed 0.8%.

Persons: Toby Melville, abrdn, Siddarth, Shreyashi Sanyal, Rashmi Organizations: London Stock Exchange Group, City of, REUTERS, Thomson Locations: City, City of London, Britain, London, Glencore, China, Bengaluru

☆ CNBC Pro Talks: Warren Buffett disciple Guy Spier reveals how to invest right now
▼ + stars: | 2023-08-08 | by ( ) www.cnbc.com time to read: +1 min

Join CNBC's Tanvir Gill Wednesday as she quizzes renowned value investor Guy Spier on how to play the markets right now. Spier, who calls himself an "ardent disciple" of legendary investor Warren Buffett, manages the $350 million Aquamarine Fund. Spier closely follows Buffett's investing principles, and the Aquamarine Fund is inspired by the original 1950s Buffett Partnership era . That compares to the S & P 500 's 8.2%, the MSCI World 's 6.9%, and the FTSE 100 's 3.6%. Join CNBC Pro Talks on Wednesday, August 9, at 12 p.m. BST / 7 p.m. SGT / 7 a.m.

Persons: Tanvir Gill, Guy Spier, Spier, Warren Buffett Organizations: Aquamarine, Buffett, Bank of America, Micron Technology, Ferrari, Tech, Veteran, Dow Locations: U.S

☆ European stocks dip as Italian banks, downbeat data weigh
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 7, 2023. By 0707 GMT, the pan-European STOXX 600 index (.STOXX) was down 0.3%. Germany's DAX index (.GDAXI) fell 0.4% after data showed inflation eased to 6.5% in July, but was in line with economist expectations. Shares of Glencore (GLEN.L) slumped nearly 3% after the global miner said its earnings had halved in the first half. Reporting by Shashwat Chauhan and Sruthi Shankar in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Matteo Salvini, Germany's DAX, Shashwat Chauhan, Sruthi Shankar, Sherry Jacob, Phillips Organizations: REUTERS, Staff, MIB, Thomson Locations: Frankfurt, Germany, China, United States, Beijing, Bengaluru

☆ Asia shares on guard for US, China inflation risks
▼ + stars: | 2023-08-07 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> was a fraction firmer in thin trade, after losing 2.3% last week. Chinese blue chips (.CSI300) eased 0.7% with investors still disappointed at the lack of major and concrete stimulus steps from Beijing. Going the other way, S&P 500 futures added 0.4% and Nasdaq futures 0.5%. In China, the market is looking for further signs of deflation with annual consumer prices seen down around 0.5%, and producer prices falling 4%. Futures imply only a 12% chance of a Federal Reserve rate hike in September, and 24% for a rise by year-end.

Persons: Kim Kyung, Walt Disney, Goldman Sachs, Michael Gapen, Brent, Wayne Cole, Shri Navaratnam, Jacqueline Wong Organizations: Yen, REUTERS, Nikkei, SYDNEY, Japan's Nikkei, Bank of Japan, Nasdaq, News Corp, Goldman, Federal, Fed, U.S ., Thomson Locations: Tokyo, Japan, China, U.S, Asia, Pacific, Beijing, Ukraine

The German share price index DAX graph is pictured at the Frankfurt stock exchange in Frankfurt, Germany, March 17, 2023. The pan-European STOXX 600 (.STOXX) closed up 0.1% ahead of inflation readings from Germany, China and the U.S. later this week, all likely to drive expectations on how long interest rates could remain high. Europe's aerospace and defence index (.SXPARO) hit a record high, rising 1.0%, with Italy's Leonardo (LDOF.MI) and London-listed Melrose (MRON.L) up 3.1% and 2.6% respectively. Major European bourses were mixed, with London's commodity-heavy FTSE 100 down 0.1%, while France's blue-chip CAC 40 index (.FCHI) rose 0.1%. Pressuring Germany's DAX (.GDAXI), Siemens Energy (ENR1n.DE) dropped 6.1%, having shuttled between gains and losses throughout the day.

Persons: Daniela Hathorn, Italy's Leonardo, Anthi Tsouvali, Germany's DAX, Shashwat Chauhan, Sruthi Shankar, Amruta, Varun, Alex Richardson Organizations: REUTERS, Staff, Defence, Siemens Energy, U.S, Aurubis AG, Capital.com, Bavarian, Melrose, State Street Global Markets, Thomson Locations: Frankfurt, Germany, China, Danish, London, U.S, Bengaluru

[1/3] Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Nonfarm payrolls increased by 187,000 jobs last month, the Labor Department said in its closely watched employment report on Friday, slightly below expectations of 200,000 jobs. U.S. Treasury yields dropped after jobs data on Friday showed the U.S. economy added fewer jobs than expected in July, but investors hesitated to rule out further monetary tightening. Oil prices headed for a sixth straight weekly gain, driven by the prospect of reduced supply from Saudi Arabia and Russia. U.S. crude rose 1.4% to $82.69 per barrel and Brent was at $86.10, up 1.13% on the day.

Persons: Mike Segar, Rick Rieder, Randy Frederick, Charles Schwab, Frederick, Sterling, Fitch, Brent, Lawrence Delevingne, Amanda Cooper, Elizabeth Howcroft, Ankur Banerjee, Sruthi Shankar, Sharon Singleton, Nick Macfie, Diane Craft Organizations: Wall, New York Stock Exchange, REUTERS, Apple, Treasury, U.S ., Labor Department, Dow Jones, Nasdaq, FTSE, U.S . Federal, Bank of England, U.S . Treasury, Thomson Locations: Manhattan, New York City , New York, U.S, Austin , Texas, United States, Saudi Arabia, Russia, Boston, London

[1/2] The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Investor attention will be squarely on the July U.S. non-farm payrolls report, with a Reuters survey of 80 economists expecting payrolls to have increased by 200,000 last month, after rising 209,000 in June. "Today’s U.S. payrolls data is likely to continue to showcase the resilience of the U.S. economy," Michael Hewson, chief market analyst at CMC Markets, said in a note. The dollar meanwhile rose 0.1% against a basket of major currencies , heading for its third weekly gain in a row. Oil prices headed for a sixth straight weekly gain, driven up by the prospect of reduced supply from Saudi Arabia and Russia.

Persons: Toby Melville, payrolls, Michael Hewson, Germany's DAX, Francesco Sandrini, Fitch, Brent, Ankur Banerjee, Muralikumar Anantharaman, Kirsten Donovan, Alexander Smith Organizations: London Stock Exchange Group, City of, REUTERS, Treasury, U.S . Federal, CMC Markets, FTSE, Nasdaq, Apple, Bank of England, U.S ., U.S . Treasury, Thomson Locations: City, City of London, Britain, U.S, United States, Saudi Arabia, Russia, Singapore

A panel displaying share prices is seen inside the Shenzhen Stock Exchange in the southern Chinese city of Shenzhen October 23, 2009. The Shenzhen Stock Exchange, one of the two major bourses in the Chinese mainland, is in negotiations with the Saudi Tadawul Group (1111.SE), operator of the Saudi Stock Exchange, for ETF Connect, as the programme is called, two of the sources said. The China Securities Regulatory Commission, the Shenzhen Stock Exchange and the Tadawul Group did not respond to Reuters' requests for comment. China has launched 'ETF Connect' projects in recent years with offshore stock exchanges in Hong Kong, Japan, South Korea, and Singapore. Reporting by Xie Yu and Selena Li in Hong Kong; Additional reporting by Hadeel Al Sayegh in Dubai; Editing by Sumeet Chatterjee and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Bobby Yip, HONG KONG, HKEX, Jackie Choy, Xie Yu, Selena Li, Hadeel Al, Sumeet Chatterjee, Muralikumar Organizations: Shenzhen Stock Exchange, REUTERS, Saudi Tadawul Group, Saudi Stock Exchange, Connect, China's, China Securities Regulatory Commission, Tadawul, Singapore . Industry, Government Bond Index, Management, Saudi, Hong Kong Exchanges, Clearing, Tadawul Group, Hong Kong bourse, Morningstar Asia, Saudi Arabia's Ministry of Investment, Saudi Aramco, Thomson Locations: Shenzhen, HONG, China, Saudi, Beijing, Riyadh, Saudi Arabia, East Asia, Hong Kong, Japan, South Korea, Singapore, HK, Hong, Europe, East, Africa, Hadeel Al Sayegh, Dubai

☆ Analysis: US institutional investors could face restrictions on Chinese stock ownership
▼ + stars: | 2023-08-04 | by ( Ross Kerber | ) www.reuters.com time to read: +5 min

Chinese companies including Tencent (0700.HK) and Alibaba (9988.HK) accounted for 31% of the MSCI Emerging Markets index (.MSCIEF) in July. RED-FLAGGED COMPANIESMSCI and rivals removed seven Chinese companies from global indexes in 2020 because of U.S. ownership restrictions. The committee's letters this week cited contractors to China's People's Liberation Army it identified in BlackRock funds or MSCI indexes. Some of the companies have been flagged such as appearing on the U.S. Treasury's "Chinese Military-Industrial Complex" companies list. For companies on it, U.S. persons and asset managers face purchase and sale restrictions but not divestment requirements.

Persons: Tingshu Wang, Biden, Jo Ritcey, Donohue, there’ll, BlackRock, MSCI, RUSH, Mike Gallagher, Gallagher, Todd Rosenbluth, Rosenbluth, Russell, Ross Kerber, Karin Strohecker, Michael Martina, Patricia Zengerle, Selena Li, Megan Davies, Cynthia Osterman Organizations: Waterdrop Inc, New York Stock Exchange, REUTERS, U.S, BlackRock, Washington, Chinese Communist Party, HK, Vanguard FTSE, Vanguard, FTSE Russell, People's, Ritcey, Department of, Thomson Locations: U.S, New, Beijing, China, BlackRock, Washington, Taiwan, Ukraine, MSCI, Boston, London, Hong Kong

☆ Wall St shares pare losses after choppy trading as yields spike
▼ + stars: | 2023-08-03 | by ( Lawrence Delevingne | Thomson Reuters | Delevingne Works Primarily On Enterprise Stories Related To Finance. He Joined Reuters In | ) www.reuters.com time to read: +4 min

Wall Street investors weighed another rise in Treasury yields with the latest batch of economic data and earnings. U.S. long-term Treasury yields hit nine-month highs on Thursday after employment and other economic data pointed to easing inflation, maintaining their high levels in the afternoon. EURO SHARES DOWNEuropean shares (.STOXX) slipped 0.6%, the third straight day of losses, bruised by disappointing earnings reports and elevated U.S. bond yields. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.2%, extending losses after a drop of 2.3% a day earlier. Spot gold ticked up 0.1% to $1,934 an ounce, held in check by a robust dollar and elevated bond yields.

Persons: Andrew Kelly, BoE, Gennadiy Goldberg, Goldberg, Sterling, Stuart Cole, Morgan Stanley, Brent, Lawrence Delevingne, Tom Wilson, Stella Qiu, Jonathan Oatis, Will Dunham, Alexander Smith Organizations: Dow Jones, New York Stock Exchange, REUTERS, Wall Street, Nasdaq, TD Securities, Reuters Global, . Labor Department, FTSE, Bank of England, Equiti, Thomson Locations: Manhattan , New York City, U.S, Asia, Pacific, Japan, China, Saudi, Boston, London, Sydney

European shares (.STOXX) slipped 0.6%, bruised by disappointing earnings reports and elevated U.S. bond yields, on course for their third straight day of losses. Sterling extended losses after the BoE decision, falling as much as 0.7% to its lowest since June 30. The BoE decision was closely watched for clues on how central banks globally will balance taming inflation and maintaining growth. U.S. 10-year yields hit a new nine-month peak of 4.17%, while 30-year yields rose to a fresh nine-month top. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.4%, extending losses after a drop of 2.3% a day earlier.

Persons: Sterling, BoE, Stuart Cole, Morgan Stanley, Tom Wilson, Stella Qiu, Mark Potter, Bernadette Baum Organizations: REUTERS, Staff, Sterling, LONDON, Bank of England, FTSE, Equiti, Nasdaq, Treasury, U.S, AMAZON Investors, Apple, Thomson Locations: Frankfurt, Germany, Asia, Pacific, Japan, China, London, Sydney

European shares (.STOXX) slipped 1.1% after falling on Wednesday to two-week lows as rating agency Fitch cut the U.S. government's credit rating. UK shares (.FTSE) fell 1.3%, with the Bank of England (BoE) expected to raise interest rates later in the day. Pressuring stocks were a climb in long-term U.S. Treasury yields after stronger-than-expected private employment data and the announced refunding of the U.S. government's maturing debt. U.S. 10-year yields hit a new nine-month peak of 4.17%, while 30-year yields rose to a fresh nine-month top. The risk, investors said, was that a repeat of June's surprise half-point increase could fuel bets that major central banks are not done tightening yet.

Persons: Issei Kato, Fitch, BoE, Jonathan Petersen, Morgan Stanley, Sterling, Tom Wilson, Stella Qiu, Kim Coghill, Mark Potter Organizations: REUTERS, Apple, LONDON, Bank of England, Nasdaq, Treasury, U.S, Capital Economics, APPLE, Thomson Locations: Tokyo, Japan, Asia, SYDNEY, Pacific, China, London, Sydney

☆ Morning Bid: Time for tech
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

The American flag flies over the U.S. Treasury building in Washington, U.S., January 20, 2023. U.S. Treasury yields and the dollar are clinging to nine-month peaks, while the VIX is headed for its biggest week-on-week gain since March. This will shift investors' focus to the use of artificial intelligence to augment Apple's growth. Policy makers are attempting a balancing act; trying to fight inflation without fanning recession risk. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jim Bourg, Karin Strohecker, BoE, Thomas Barkin, Christina Fincher Organizations: U.S . Treasury, REUTERS, Apple, U.S, Treasury, Nasdaq, Services, Bank of England, Moderna, Hasbro, Labor Department, Commerce Department, PMI, Federal Reserve Bank of Richmond, Graphics Reuters, Reuters, Thomson Locations: Washington , U.S, U.S, Europe

☆ The IPO market is waking up, and an ETF that tracks new stocks is soaring. How it works
▼ + stars: | 2023-08-03 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

As stocks fell into a bear market last year and interest rates jumped sharply, the market for initial public offerings ground to a halt. And investors have warmed up to less-proven stocks in general, as shown by the Renaissance IPO ETF (IPO) . IPO YTD mountain The Renaissance IPO ETF has outperformed the S & P 500 in 2023. The fund does not have any restrictions around concentrations in specific industries. "Right now, it's very tech-heavy, which is to be expected after 2021 when a lot of big tech companies went public," Spear said.

Persons: Avery Spear, Spear Organizations: Tech, FTSE Russell, Renaissance

☆ UK's FTSE 100 opens lower ahead of BoE decision; LSEG falls
▼ + stars: | 2023-08-03 | 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 PhotoSummaryCompanies FTSE 100 down 0.8%, FTSE 250 off 0.3%Aug 3 (Reuters) - UK's FTSE 100 opened lower on Thursday, with shares of London Stock Exchange Group weighing on the index, while investors awaited the Bank of England's verdict on monetary policy tightening later in the day. By 0710 GMT, the blue-chip FTSE 100 (.FTSE) fell 0.8%, hovering near a two-week low hit on Wednesday, while the more domestically-focussed FTSE 250 midcap index (.FTMC) lost 0.3%. London Stock Exchange Group (LSEG.L) lost 3.9% after its first-half profit before tax fell 17.6%. Also weighing was BT Group (BT.L), which fell 5.1% as shares of the telecom firm traded ex-dividend.

Persons: Toby Melville, Smith, SN.L, BoE, Shashwat Chauhan, Varun Organizations: London Stock Exchange Group, City of, REUTERS, London Stock Exchange, Bank of, BT Group, Thomson Locations: City, City of London, Britain, Bengaluru

☆ VIEW Bank of England raises rates for a 14th time
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +7 min

The BoE raised interest rates by 25 basis points to 5.25% and said high inflation meant it was unlikely to stop raising rates any time soon. However, with Thursday's decision, traders began to price in a lower peak in UK rates. MONEY MARKETS: Interest-rate derivatives showed traders believe UK rates will peak around 5.67% by March, compared with an expected peak of 5.73% in the run-up to the decision. Rising interest rates means higher borrowing costs, which will lead to larger monthly mortgage payments for many homeowners." The Bank of England remains committed to bringing inflation down, unfortunately raising interest rates is one of the only tools the Bank can use to sap demand out of the economy."

Persons: BoE, Sterling, VIVEK PAUL, we’ll, STUART COLE, JEREMY BATSTONE, CARR, RAYMOND JAMES, MARCUS BROOKES, ” SEEMA SHAH, Rishi Sunak, GILES COGHLAN, THOMAS PUGH, JOHN LEIPER, Amanda Cooper, Samuel Indyk Organizations: Bank of England, FTSE, BLACKROCK, LONDON, TOM HOPKINS, Bank of, RSM, Bank, EMEA, Thomson Locations: LONDON, EUROPEAN, U.S

☆ UK's FTSE 100 opens lower after surprise U.S. credit rating cut sours mood
▼ + stars: | 2023-08-02 | 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 PhotoSummaryCompanies FTSE 100 down 0.8%, FTSE 250 off 0.6%Aug 2 (Reuters) - UK's FTSE 100 opened lower on Wednesday, as global risk sentiment took a hit after ratings agency Fitch cut the United States' credit rating, while BAE Systems shares jumped after the defence company raised its full-year guidance. By 0709 GMT, the bluechip FTSE 100 index (.FTSE) fell 0.8%, touching a two week low, while the more domestically-focussed FTSE 250 midcap index (.FTMC) lost 0.6%. BAE Systems (BAES.L) added 4.7% after Britain's biggest defence company upgraded its guidance for 2023, forecasting annual earnings per share would grow 10-12%. ConvaTec Group (CTEC.L) jumped 4.0% after the technology firm raised its full-year guidance.

Persons: Toby Melville, Fitch, Shashwat Chauhan, Rashmi Organizations: London Stock Exchange Group, City of, REUTERS, BAE Systems, AAA, Smurfit Kappa, ConvaTec, Thomson Locations: City, City of London, Britain, United States, London, Bengaluru

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