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☆ CNBC Daily Open: China, the dozing dragon
▼ + stars: | 2023-06-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

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. Blinken unexpectedly meets XiU.S. Secretary of State Antony Blinken ended his China visit by meeting with Xi Jinping, the country's president. Blinken's meeting could pave the way for U.S. President Joe Biden to meet Xi in November. The country's mortgage market's so volatile that HSBC temporarily stopped offering some home loans earlier this month.

Persons: Blinken, Antony Blinken, Xi Jinping, Blinken's, Joe Biden, Xi, Buffett, Warren Buffett's Berkshire Hathaway, Morgan Stanley Organizations: CNBC, Xi U.S, U.S, Juneteenth, Mitsubishi, Mitsui, Sumitomo, HSBC, Asia Locations: Lujiazui, Pudong, Shanghai, China, frayed U.S, America, Itochu, Berkshire, Japan, Asia Pacific

Germany's DAX index (.GDAXI) fell 0.3% by 0750 GMT, retreating farther from a record high hit on Friday. The continent-wide STOXX 600 index (.STOXX) edged 0.1% lower. The chemicals index (.SX4P) slid 1.7%, leading sectoral declines. London's FTSE 100 index (.FTSE) rose 0.2%. Reporting by Shreyashi Sanyal in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: DAX, Boehringer's Zantac, Stuart Cole, drugmaker, Boehringer, Jerome Powell, Shreyashi Sanyal, Eileen Soreng Organizations: Europe Sanofi, Equiti, People's Bank of China, Sanofi, International Chamber of Commerce, Global Auto Holdings, Bank of, Investors, . Federal, Thomson Locations: Europe, China, United States, British, Bengaluru

☆ Global stocks are soaring. Analysts love these names — giving one over 80% upside
▼ + stars: | 2023-06-19 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Analysts are still optimistic about some parts of the U.S. market, but some expect international markets to do better this year. The resulting stocks have buy ratings from over 65% of analysts covering them, and average price target upside of at least 30%. Two stocks stood out for their 100% buy rating from analysts and significant potential upside: Coal mining company Yancoal Australia and Hong Kong-listed ESR Group , a real estate services company. German meal kit company Hello Fresh got the highest potential upside from analysts at 82%. U.S. stocks include e-commerce giant MercadoLibre , health insurance firm Humana and pharmaceutical firm Jazz Pharmaceuticals .

Persons: Germany's Dax, Morgan Stanley, J.P, Tai Hui, Tai, Raymond Bridges, Fresh Organizations: Nikkei, Morgan Asset, Bridges Capital, CNBC Pro, CNBC, Vanguard FTSE, Index, Kansai Electric Power, JCR Pharmaceuticals, Humana, Jazz Pharmaceuticals Locations: Europe, U.S, Japan, Asia, Australia, Hong Kong

☆ Asia shares near 4-month peak, yen falls as BOJ maintains policy
▼ + stars: | 2023-06-16 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The BOJ rounded up a central bank heavy week, keeping its pledge to "patiently" sustain massive stimulus to ensure Japan sustainably achieves its 2% inflation target accompanied by wage hikes. As widely expected, the BOJ maintained its -0.1% short-term interest rate target and a 0% cap on the 10-year bond yield set under its yield curve control (YCC) policy. Markets are now pricing in 67% chance of the U.S. central bank raising its interest rate by 25 basis points next month, according to CME FedWatch tool. The European Central Bank on Thursday left the door open to more rate hikes as it flagged risks from rising wages and revised up its inflation projections. The ECB also raised interest rates by 25 bps taking its policy rate to 3.5%, a level not seen since 2001.

Persons: DAX, Kazuo Ueda's, Charu, HSI, Ryan Brandham, Lagarde, Brent, Ankur Banerjee, Kim Coghill Organizations: Federal, Bank of Japan, Ueda, Saxo Markets, Nikkei, Nasdaq, Validus Risk Management, European Central Bank, ECB, NatWest Markets, China . U.S . West Texas, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, North America, U.S, China . U.S

SummarySummary Companies Travis Perkins falls, warns of downbeat profitUK inflation data, BoE rate decision due next weekFTSE 100 up 0.2%, FTSE 250 flatJune 16 (Reuters) - UK's FTSE 100 climbed on Friday, with defensive stocks such as utilities and healthcare leading the charge, while top building materials supplier Travis Perkins slumped after a profit warning. The internationally-focused FTSE 100 (.FTSE) gained 0.2%, posting a weekly gain of 1%, snapping a three-week losing streak underpinned by strength in mining stocks. Investors now look ahead to domestic inflation data and a probable 25-basis-point rate hike from the Bank of England next week. "It looks like, at least at this point, that this is the central bank that's going to remain the most restrictive for the longest period of time." A BoE survey showed the British public's expectations for inflation in the coming 12 months cooled in May.

Persons: Travis Perkins, BoE, Julien Lafargue, Ankika Biswas, Shashwat Chauhan, Khushi Singh, Sherry Jacob, Phillips, Shailesh Organizations: U.S . Federal Reserve, European Central Bank, Bank of, ECB, Barclays Private Bank, FTSE, Britain's, Thomson Locations: Bank of England, Bengaluru

☆ CNBC Daily Open: The Fed paused, but so did markets
▼ + stars: | 2023-06-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Federal Reserve Board Chairman Jerome Powell speaks during a news conference following the Federal Open Market Committee meeting, at the Federal Reserve in Washington, DC, on June 14, 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. Pause and playThe Federal Reserve left interest rates unchanged, as widely expected. That could mean a return to raising rates to combat Turkey's sky-high inflation, which was 39.6% in May.

Persons: Jerome Powell, Recep Tayyip Erdogan, Erdogan, Elon Musk, Noel Barrot, Barrot, Jeffrey Gundlach, Gundlach Organizations: Federal Reserve, CNBC, Dow Jones, Nasdaq, Twitter, DoubleLine Locations: Washington ,, Europe, France, EU, U.S

☆ Entain shares slide after deal to buy Poland's STS Holdings
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: 1 min

LONDON, June 14 (Reuters) - Entain (ENT.L) shares fell to the bottom of the London blue-chip index (.FTSE) on Wednesday after the betting company announced deal to buy Poland-based sports betting operator STS holdings (STH1.WA). Entain shares fell 10% to their lowest since March 29, in their biggest daily decline in four months. After the European market close on Tuesday, the sports-betting and gaming company said it will pay 24.8 Polish zlotys ($5.97) for each STS shares in a 750 million pounds ($946 million) deal, which will further its footprint in Europe. STS shares surged to December 2021 high, last up 12.3%. Reporting by Joice Alves; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Entain, Joice Alves, Amanda Cooper Organizations: Thomson Locations: Poland, . WA, Europe

☆ CPI Report Today: Dow Futures Waver Ahead of Inflation Data
▼ + stars: | 2023-06-13 | by ( ) www.wsj.com time to read: +1 min

Stock futures are edging higher ahead of inflation data that could shed light on how much further the Federal Reserve may raise interest rates in the months ahead. While the headline pace of inflation has slowed this year, investors are focused on core inflation, which is expected to have remained stubbornly strong in May. The central bank is expected to hold interest rates steady , but investors think it could signal more rate increases in the future. The yield on 10-year government bonds rose to 4.409% from 4.323% after unexpectedly strong U.K. wage-growth data. Brent futures rose over 2% to around $73.30 a barrel, after sliding 3.9% Monday.

Organizations: Federal Reserve, Stock, Dow, Treasury, Japan’s Nikkei, ’ Locations: China, Shanghai, Europe, Brent

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 9, 2023. Wall Street futures were up, pointing to another session of gains after the S&P 500 rose for the fourth week in a row last week. "Obviously if we have a big negative surprise on inflation and inflation comes in much hotter than expected, that is going to challenge central banks and the Fed in its 'pause' strategy," he said. Money markets are pricing in around a 75% chance of the Fed keeping rates steady, and a 25% chance of a 25 basis points rate hike, according to the CME FedWatch tool. The European Central Bank is expected to raise rates by 25 basis points on Thursday.

Persons: Europe's, Samy Chaar, Lombard, Elizabeth Howcroft, Sharon Singleton, Chizu Organizations: REUTERS, U.S, CPI, Fed, U.S . Federal Reserve, European Central Bank, Wall, Nasdaq, Investors, Reserve Bank of Australia, Bank of Canada, Bank of Japan, People's Bank of China, Brent, . West Texas, Thomson Locations: Frankfurt, Germany, China, U.S, Europe, Hong Kong

☆ Analysts are super bearish on these 13 global stocks and expect them to sink
▼ + stars: | 2023-06-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Then, UBS said in a report titled "Don't be fooled by the latest Tech rally" on June 6 that hedge funds have already begun selling $20 billion to $30 billion worth of global stocks. To that end, CNBC Pro screened over 3,330 large and mid-cap global equities that are part of the FTSE All-World ex-U.S. Index and identified the 13 stocks that analysts are most bearish toward. The table below shows global stocks, covered by at least 10 analysts, with no buy, overweight, or outperform ratings. Vodafone Idea India-listed Vodafone Idea is the most unloved stock in the above table. However, unlike Vodafone Idea, the downside risk is mainly given the stock's recent rally toward its all-time high.

Persons: Morgan Stanley, Wells Fargo's, Ankur Rudra, Rudra, it's, Morgan, Howard Kao, Kao, — CNBC's Michael Bloom Organizations: UBS, Tech, CNBC Pro, FTSE, Vodafone Idea, Vodafone, Reliance Jio, IDEA, Acer, FactSet Locations: Acer Taiwan

☆ London stocks inch higher on mining and energy push; Vodafone slumps
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 0.1%, FTSE 250 flatJune 8 (Reuters) - UK's main stock indexes edged higher on Thursday, supported by a boost from mining and energy stocks, although a sharp drop in the shares of British mobile operator Vodafone capped gains. The resource-heavy FTSE 100 (.FTSE) was up 0.1% as of 0718 GMT, while the domestically-focused FTSE 250 (.FTMC) midcap index was little changed. Oil and gas (.FTNMX601010) and miners (.FTNMX551020) were the top sector gainers, while precious metals (.FTNMX551030) and chemicals (.FTNMX552010) took the worst hit. Wizz Air (WIZZ.L) gained 1.8% after the European low-cost airline forecast a net profit of 350 million euros to 450 million euros ($374.57 million to $481.59 million) in its current financial year. ($1 = 0.9344 euros)Reporting by Ankika Biswas in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Crest, Ankika Biswas, Rashmi Organizations: British, Vodafone, Reuters, Hutchison, HK, Wizz, Crest Nicholson Holdings, Thomson Locations: Bengaluru

☆ World shares muted, lira plunges to record low
▼ + stars: | 2023-06-07 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

Meanwhile, Turkey's lira plunged to a record low against the greenback as authorities appeared to loosen stabilising measures after the government signalled a pivot to more orthodox policies. Spanish stocks (.IBEX) outperformed after shares in the world's biggest fast fashion company Inditex (ITX.MC) jumped almost 7% following first quarter results. That left the MSCI's broadest index of world shares (.MIWD00000PUS) up just under 0.1% but close to its highest level in 13 months reached on Monday. The dollar fell 0.1% against a basket of currencies, while the Turkish lira weakened over 7% to a record low of 23.17 per dollar, its biggest one-day sell-off since the 2021 crash. Bitcoin was trading at about $26,900, consolidating after a sharp rebound on Tuesday from as low as $25,350.

Persons: Ben Laidler, Ipek Ozkardeskaya, eToro's Laidler, Laidler, Solana, Samuel Indyk, Kevin Buckland, Xie Yu, Robert Birsel, Louise Heavens Organizations: REUTERS, Staff LONDON, U.S, Federal Reserve, greenback, Nikkei, Fed, Wall, ICE, Treasury, Swissquote Bank, Data, Saudi, Brent, Texas, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Frankfurt, Germany, Asia, Pacific, Japan, Hong Kong, Taiwan, U.S, London, Turkish, China, Cardano, Polygon

☆ BT CEO pay to be frozen until retirement - Sky News
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - BT Group's (BT.L) CEO Philip Jansen is to freeze his salary of 1.1 million pounds ($1.4 million) until he retires from Britain's largest telecoms group, Sky News reported on Wednesday. The BT Group chief's base pay will be maintained at the level it was set when he joined the company in 2019 and is expected to be published in the telecoms group's annual report due Thursday, according to Sky News. Jansen's annual salary had been fixed for five years upon assuming the role in 2019, which would have expired this year. His salary was to be renewed on a rolling basis until he eventually left the company, said a source to Sky News. BT Group did not immediately respond to a Reuters request for comment.

Persons: Philip Jansen, Patrick Drahi, Shreyaa Narayanan, Krishna Chandra Organizations: BT, Sky News, BT Group chief's, Franco, BT Group, Thomson Locations: Bengaluru

In the previous session, the index dropped as data pointing to tepid U.S. business activity sparked profit-taking following gains in the prior week. MSCI's broadest index of world stocks (.MIWD00000PUS) was largely flat, while Tokyo's Nikkei (.N225) gained 0.90% and China's blue-chip index (.CSI300) dropped almost 1%. Three months ago, the question was how fast would rate hikes come. Now, a pause and then more U.S. rates hikes could follow as a result of sticky inflation, said Mike Kelly, head of multi-asset at PineBridge Investments. In oil markets, prices gave up most gains from the previous session after the world's top exporter, Saudi Arabia, said it would further cut output.

Persons: Toby Melville, Germany's DAX, Mike Kelly, We're, Gary Dugan, bitcoin, Nell Mackenzie, Dhara Ranasinghe, Mark Potter Organizations: London Stock Exchange Group, City of, REUTERS, Reserve, British Retail Consortium, Tokyo's Nikkei, Reserve Bank of Australia, Fed, European Central Bank, Bank of Japan, PineBridge Investments, Saxo Markets, Dalma, Thomson Locations: City, City of London, Britain, U.S, Saudi Arabia

The companies in discussion are largely small- to mid-sized, making them achievable targets, as opposed to firms listed on the FTSE 100. 'DRY POWDER'One of the contributing factors for PE firms' abundance of cash, or "dry powder", is the continued buildup of uninvested capital during the pandemic, according to fund managers. During the first five months of 2023, nine listed firms on the London Stock Exchange were approached by PE firms, exceeding the number of targets in the same time period last year, according to Refinitiv data. Among those out shopping for firms, many seem attracted to these lower valuations of small- and mid-cap firms. Though firms listed on the smaller UK indexes are more domestically focused than their larger counterparts, analysts point out that nearly half of their revenue is from their international presence, making them an even more attractive purchase for PE firms.

Persons: Richard Bullas, Martin, Franklin Templeton, John Wood, Bullas, Moodley, Johann M Cherian, Shounak Dasgupta Organizations: Bank of, Network International Holdings, Hyve, Medica Group, Pharmaceuticals, PE, Martin Currie UK Equity, London Stock Exchange, Apollo, John, John Wood Group, BNP, FTSE, U.S, Thomson Locations: Bank of England, Britain, United States, 10.2x, Europe, U.S, Bengaluru

☆ European shares open flat; London leads on oil boost
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +1 min

June 5 (Reuters) - European shares opened flat on Monday as markets failed to catch the tailwind from a bounce seen last week, while London stocks led regional gains following upbeat performances by energy firms on the back of higher oil prices. The pan-European STOXX 600 index (.STOXX) held its ground at 462.46 points, while London's FTSE 100 (.FTSE) index led gains with a 0.5% climb. The European oil & gas sector index (.SXEP) rose 1%, buttressed by stronger oil prices after top global exporter Saudi Arabia pledged to cut production by another 1 million barrels per day from July. Shares of Indivior Plc (INDV.L) surged 11% to top the STOXX 600 Index after the drugmaker agreed to pay $102.5 million to settle a lawsuit for its opioid addiction treatment Suboxone. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Shreyashi Sanyal, Sherry Jacob, Phillips Organizations: FTSE, Saudi, Markets, U.S . Federal, Indivior Plc, Thomson Locations: London, Saudi Arabia, U.S, Bengaluru

☆ Stocks surge in Asia as US averts default, Fed pause bets rise
▼ + stars: | 2023-06-02 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The exuberant mood looked set to continue in Europe, with Eurostoxx 50 futures up 0.45%, German DAX futures up 0.49% and FTSE futures 0.18% higher. The Treasury Department had warned it would be unable to pay all its bills on June 5 if Congress failed to act. "The market's focus is shifting to the economic front and Fed's decision on rates now," said Tina Teng, markets analysts at CMC Markets. AMP's Oliver said the prevailing sentiment now is that there will be a pause in June and that's helped markets. Australia's S&P/ASX 200 index (.AXJO) rose 0.42%, while Japan's Nikkei (.N225) was 1% higher, continuing its hot run.

Persons: DAX, Shane Oliver, Tina Teng, Patrick Harker, Harker, AMP's Oliver, that's, there'll, Australia's, Sterling, Brent, Ankur Banerjee, Lincoln, Kim Coghill Organizations: Federal Reserve, U.S . Senate, Representatives, Treasury Department, AMP, CMC Markets, Labor, Philadelphia Federal, Japan's Nikkei, Treasury, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Europe, Sydney, U.S, China, Shanghai

The Hang Seng (HSNGY)closed 4% higher, notching its biggest one-day gain in three months. Brent crude, the benchmark for global oil prices, gained almost 1.6% to trade at $75.46 a barrel. Hang Seng reboundsIn Hong Kong, the two best-performing stocks were Chinese real estate developers Longfor Group (LNGPF) and Country Garden Services, soaring 17% and 12% respectively. Citing people familiar with the matter, Bloomberg reported Friday that China was working on such measures. Elsewhere in Asia, South Korea’s Kospi index ended the day 1.3% up, Japan’s Nikkei 225 was 1.2% higher, and the Shanghai Composite Index gained 0.8%.

Persons: Philip Jefferson, Joe Biden, “, ”, Richard Hunter, ” Dow, Germany’s DAX, DAX Organizations: London CNN — Global, US, Markets, Treasury, Interactive, Nasdaq, CAC, Brent, Longfor, Garden Services, Bloomberg, Nikkei Locations: Hong Kong, London, China, France, Qingdao, Asia, South, Shanghai

There's a burgeoning bull case for Saudi Arabia stocks. The iShares MSCI Saudi Arabia ETF (KSA) is up more than 8% year to date and almost 20% over a three-year period. The MSCI Saudi Arabia Index is composed of almost 45% in financials, followed by 22.1% in materials, mostly consisting of petrochemicals groups. More foreign investment The kingdom's Vision 2030 economic blueprint aims to raise foreign direct investment contributions to 5.7% by 2030 from 0.7% currently . Another fund that does this is the Franklin FTSE Saudi Arabia ETF (FLSA) .

Persons: Morgan Stanley, Carlos Asilis, Ramzi Sidani, — it's, they've, It's, Andrew Miller, Miller, Glovista's, HSBC's Sidani, Mondrian, — CNBC's Michael Bloom Organizations: Glovista Investments, JPMorgan —, HSBC's Global Research, Saudi, HSBC's Frontier Equity, United Arab Emirates, Mondrian Investment Partners, Franklin FTSE, Franklin FTSE Saudi Arabia, Aramco, Al, Al Rajhi Bank Locations: Saudi Arabia, Saudi, Russia, Ukraine, East, Korea, Australia, Chile, Poland, financials, Qatar, Franklin FTSE Saudi, Al Rajhi

☆ European shares touch two-month low on dismal China data
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

May 31 (Reuters) - European shares hit an over two-month low on Wednesday as weak economic data from China fuelled concerns about a global slowdown and countered optimism from signs of easing inflation in some of the major euro zone economies. The pan-European STOXX 600 index (.STOXX) fell 0.7% to hit its lowest level since March 31. Both the indexes were also trading at a two-month low on Wednesday. China is Germany's main trading partner. Shares of troubled Swedish real estate firm SBB (SBBb.ST) sank 7.6% to a near seven-year low.

Persons: Sruthi Shankar, Sherry Jacob, Phillips Organizations: FTSE, CAC, SBB, Thomson Locations: China, Paris, Europe, Westphalia, Swedish, Bengaluru

☆ Asian stocks dip as investors question consequences of US debt deal
▼ + stars: | 2023-05-30 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +4 min

The package still has to be approved by the Republican-controlled House of Representatives and Democratic-controlled Senate before the debt limit is reached, likely by next Monday. The bond market is implying there is an extreme 70% probability on a U.S. recession in the next year. Australian shares (.AXJO) were down 0.11% while the Nikkei stock index (.N225) rose 0.36%, after the Japanese benchmark hit a 33-year high on optimism over the U.S debt deal and a weaker yen, which helps the country's exporters. Benchmark 10-year yields dropped 6 basis points during Asian trade to 3.7616% while thirty-year yields fell 6.3 bps to 3.9134%. With the debt deal heading to Congress for approval, JB Were analysts said there could be up to $600 billion worth of bill issuance in the next six to eight weeks.

☆ Europe markets mixed as U.S. lawmakers prepare for debt ceiling vote
▼ + stars: | 2023-05-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The pan-European Stoxx 600 index was up 0.04% by 9 a.m. in London, though the U.K.'s FTSE 100 and France's CAC 40 were both lower. Sectors were mixed, with food and beverage stocks down 0.8% and utilities up 0.77%. European stock markets were choppy early Tuesday, with attention on the latest U.S. debt ceiling developments. A group of Republican lawmakers on the party's hard right said Monday they would oppose the deal reached by President Joe Biden and House Speaker Republican Kevin McCarthy over the weekend. They need to find the votes, this might trigger the attention of the markets for a couple of days," Cavarero said.

☆ Japan stocks are on fire this year. Here are 3 reasons why the rally could have 'staying power'
▼ + stars: | 2023-05-27 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

Since then, Japanese equities have rallied. Even so, Strategas Securities' Chris Verrone has remained optimistic on Japanese equities, saying this week that the rally is not yet overbought. Meanwhile, JPMorgan chief market strategist Marko Kolanovic said in a note, also on Tuesday, that the rally in Japan still has "staying power." For international investors, those remarks signaled that Japanese companies may be more transparent with shareholders in the future. Investors can also take a company-specific approach, according to Diamond Hill's Mohanraj, who favors Japanese companies that boast differentiated products.

☆ Investors shifted into these gold and small-cap ETFs this week
▼ + stars: | 2023-05-26 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The iShares Russell 2000 ETF (IWM) raked in more than $1 billion of inflows over the past week through Thursday's close, according to FactSet. The SPDR Gold Shares ETF (GLD) was another successful fund, pulling in about $270 million. Those flows are a notable contrast to the market's performance this week, where large tech stocks outperformed. Both gold and the Russell 2000 have fallen slightly in May, so the inflows could reflect investors buying a dip. ETF fund flows are not always a perfect gauge for what investors are betting on.

☆ FTSE 100 edges higher as NatWest, StanChart shares rise
▼ + stars: | 2023-05-22 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies Domestic house prices rise in MayUK lowers stake in NatWest, shares climbDechra Pharma down after profit warningUS debt ceiling talks to resume after impasseFTSE 100 0.3%, FTSE 250 flatMay 22 (Reuters) - UK's blue-chip index edged higher on Monday, with NatWest shares rising after it agreed to buy 1.3 billion pounds ($1.6 billion) worth of its shares back from the government, although lingering uncertainty over the U.S. debt ceiling impasse weighed on overall mood. The FTSE 100 (.FTSE) rose 0.3%, with bank stocks in the lead. Standard Chartered (STAN.L) rose 2.4% after Bank of America upgraded the stock to "buy" from "neutral". UK-listed stocks have traded in tight bands since late April as investors digested mixed corporate earnings, weakening outlook for commodity-linked stocks and standoff over the U.S. debt ceiling deal. ($1 = 0.7923 pounds)Reporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

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