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☆ Chip stocks did badly this year — but this fund manager is still bullish, naming 2 to buy
▼ + stars: | 2022-12-30 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The PHLX Semiconductor Sector Index is down nearly 37% year to date. Producing electric vehicles, for instance, involves using a lot more semiconductors, Gleeson noted. Another semiconductor firm he likes is U.S.-based Lattice Semiconductor , which is focusing more on the autos industry. Gleeson isn't the only one who's optimistic on the chip sector. Several Wall Street pros are also urging investors to take a longer-term view on the sector , given the importance of the semiconductor chip in several key secular trends.

☆ Tech is 'down but by no means out' — watch these stocks next year, fund manager says
▼ + stars: | 2022-12-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

It's been a bad year for tech companies, as investors flee growth stocks in the face of rising interest rates and other headwinds. Growth stocks, such as Big Tech, were an investor favorite in an era of low rates. That would depend on the "data points that come through" when companies report fourth-quarter earnings in the February to March period, tech fund manager Jeremy Gleeson of AXA Investment Managers told CNBC Pro Talks last week. Nevertheless, Gleeson said tech stocks are "down but by no means out." Earnings is a key metric in the tech sector, he said, adding that he prefers firms with strong balance sheets.

While the error margins are unlikely to distort euro inflation in the long-term, economists say they could warp inflation expectations if not addressed, at a time when the European Central Bank is raising rates aggressively to tame double-digit inflation. As falling energy prices will take time to be reflected in household contracts, the current methodology will underestimate inflation when energy prices fall, CBS said. More volatility could follow when Germany introduces a cap on energy prices in March, that will also cut costs for January and February retroactively, he said. Eurostat has said that only measures that have a direct impact on energy prices, known to consumers before they purchase the energy, should reflect in inflation calculations. FEEDTHROUGH RISKSWith inflation at 10%, the calculation issues are unlikely to significantly impact the aggregate euro zone inflation print.

☆ Analysis: Italy's rates clash with ECB a sign of things to come for euro zone
▼ + stars: | 2022-12-20 | by ( Francesco Canepa | ) www.reuters.com time to read: +4 min

Summary Euro zone governments offering cost-of-living subsidiesECB has warned it won't compensate for "policy errors"Clashes seen widening beyond ItalyFRANKFURT, Dec 20 (Reuters) - Attacks by Italy's new government on the European Central Bank over its plans to raise borrowing costs may be a sign of things to come for a euro zone struggling with inflation and debt. It also showed the ECB did not fear penalising the most indebted of the 19 euro zone countries, Italy among them, which tend to see their borrowing costs rise disproportionately when credit becomes more expensive. "The ECB is clearly ready to take risks with fragmentation in the euro area," Gilles Moec, chief economist at AXA Investment Managers, said. With bigger deficits to refinance and the ECB raising interest rates while also winding down its bond purchases, markets have pushed up yields across the euro zone and particularly for the weakest borrowers, such as Italy. But the ECB has been clear it won't be used to rescue countries that have made imprudent "policy errors".

☆ CNBC Pro Talks: Fund manager Jeremy Gleeson on how to trade tech right now
▼ + stars: | 2022-12-20 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

After a tough year for tech, the sector's stocks are "down but by no means out," according to CNBC Pro Talks ' next guest. Gleeson has more than 20 years of investing experience, with a focus on the tech sector. Watch the next Pro Talks on Wednesday, Dec. 21 at 12 p.m. GMT/ 8 p.m. Singapore Time / 7 a.m. EST. Gleeson has more than 20 years of investing experience, with a focus on the tech sector. Watch the next Pro Talks on Wednesday, Dec. 21 at 12 p.m. GMT/ 8 p.m. Singapore Time / 7 a.m. EST.

This could change after negotiators at the U.N. nature summit in Montreal secured long-awaited formal support on Monday for a Global Biodiversity Framework to protect nature. Just 907.6 million euros are invested in Morningstar’s top 10 equity funds with biodiversity in their name. "We know the global economy and every company in it is negatively impacting biodiversity," said Tom Atkinson, portfolio manager at AXA Investment Managers, which has a 117 million euro Article 9 biodiversity impact fund. "At the moment we can only assess the negative impact (on biodiversity) of the companies in our portfolio, this is why more biodiversity funds don't exist and why regulation is arguably dragging." Three of the six largest biodiversity-named funds assessed by Reuters are overweight industrials versus the MSCI ACWI Index (USD).

☆ The Fed has to portray itself as tough on inflation even as it pushes through a smaller rate hike
▼ + stars: | 2022-12-13 | by ( Patti Domm | In | ) www.cnbc.com time to read: +3 min

"The Fed has been saying for some time that it wants to slow the pace of tightening. The fed funds target rate range is currently 3.75% to 4%. "But then the press conference would cause a bit of a whipsaw if he sounds hawkish," she said. "I think the most interesting thing will be the press conference," said Rick Rieder, BlackRock chief investment officer of global fixed income. "I think we've heard two different types of sentiment from the chair between the latest press conference and Brookings."

☆ Investor group launches campaign to help companies protect nature
▼ + stars: | 2022-12-11 | by ( Expert Analysis | Reuters Professional | Calls Grow For Companies To Disclose Impacts On Nature In Bid To Plug Finance Gap | ) www.reuters.com time to read: +2 min

REUTERS/Luis EcheverriaMONTREAL, Dec 11 (Reuters) - Here's the plan: Select 100 companies whose business burdens nature. Such is the vision of a campaign called "Nature Action 100" launched on Sunday by 11 investment firms hoping to encourage companies to help preserve ecosystems that support more than half the world's economic output. "The aim of Nature Action 100 is to engage those companies that have the highest impact on nature, not only to protect the natural environment but also to mitigate the risks these companies face from mounting pressure to effectively address biodiversity issues," Wearmouth said in a statement. The list of 100 companies will be published next year. Nature Action 100 would seek to select 100 companies for investors to focus on in suggesting how the private sector can navigate any new rules and monitoring their progress, the group said.

☆ November job growth slowed but will still show strength despite layoffs, hiring freezes
▼ + stars: | 2022-12-01 | by ( Patti Domm | In | ) www.cnbc.com time to read: +3 min

Job growth in November was expected to have slowed while remaining strong, even in the face of layoffs and job freezes at major companies. The economy is expected to have added 200,000 jobs, less than the 261,000 in October, according to Dow Jones. Economists forecast the unemployment rate was steady at 3.7%, and average wage growth slowed to 0.3% month-over-month, from 0.4% in October. She said the number of workers out for illness could continue to be a factor, and there have been more announcements of hiring freezes. But big tech and venture capital backed firms are not hiring as much, or are reducing workforces, he added.

☆ Debt rules in Europe are changing. And that could have big repercussions in the bond markets
▼ + stars: | 2022-11-04 | by ( Silvia Amaro | ) www.cnbc.com time to read: +6 min

The euro zone is to discuss changing its fiscal rules - a task that could have market repercussions. Bloomberg | Bloomberg | Getty ImagesThe euro zone will soon reveal changes to its fiscal rules — a move that could have significant repercussions for government borrowing costs and the region's bond markets. At the same time, Germany and the Netherlands would blame the European Commission for not enforcing the rules with fines. "Interest burden on large public debt to GDP ratios is set to increase significantly in the years ahead. This means that in a optimal scenario, the fiscal rules will be changed from 2024 onward.

☆ M&G names former AXA Investment Managers head as CEO
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 29 (Reuters) - M&G (MNG.L) named investment veteran Andrea Rossi as its new chief executive on Thursday, putting him at the helm of one of Britain's best known fund management companies. A former head of AXA Investment Managers, Rossi will replace John Foley, who led M&G's split from parent Prudential in 2019, and who announced in April his intention to retire. Register now for FREE unlimited access to Reuters.com RegisterMost recently, Rossi served as senior adviser to Boston Consulting Group. The appointment has been approved by the Britain's financial regulators the PRA and FCA, M&G said. ($1 = 0.9282 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by Andres Gonzalez, editing by Sinead Cruise and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

☆ M&G appoints former head of AXA Investment Managers Andrea Rossi as new CEO
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +1 min

LONDON, Sept 29 (Reuters) - British investment manager M&G (MNG.L) said on Thursday that Andrea Rossi, a former head of AXA Investment Managers, will take over as Chief Executive Officer of the company. Rossi will replace John Foley, who led M&G's split from parent Prudential in 2019, and who announced in April his intention to retire. Most recently, Rossi served as senior adviser to Boston Consulting Group. The appointment has been approved by the PRA and FCA, M&G said. ($1 = 0.9282 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by Andres Gonzalez, editing by Sinead CruiseOur Standards: The Thomson Reuters Trust Principles.

And clearly, with the strong foundation we have, I see it as being as an opportunity for us." read moreM&G's assets under management and administration dropped 6% in the first half of 2022 to 349 billion pounds, the group reported in August, although it posted net inflows of cash from clients totaling 1.2 billion pounds over the same period. But shares have tumbled 28% since then, compared with a 10% fall in the broader FTSE 100 index. The appointment of Rossi, who will earn a base salary of 875,000 pounds plus incentives, has been approved by Britain's financial regulators the PRA and FCA, M&G said. Foley, who led M&G's split from parent Prudential in 2019, announced his intention to retire in April.

☆ Market reaction to Italy election outcome
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +6 min

Leader of Brothers of Italy Giorgia Meloni reacts at the party's election night headquarters, in Rome, Italy September 26, 2022. It last traded at 234 basis points. "Today's upward movement is a continuation of the market reaction seen on Friday after Britain's mini-budget and sounds like a warning to the eurozone countries as well." LUCA CAZZULANI, HEAD OF STRATEGY RESEARCH; LOREDANA MARIA FEDERICO, CHIEF ITALIAN ECONOMIST, UNICREDIT"We expect a rather muted market reaction in terms of BTPs credit spread in the short term, as the election outcome was broadly in line with expectations." We continue to expect the 10-year BTP-Bund spread to trade close to 250 basis points until year end."

☆ Reactions: Britain's finance minister unveils "mini budget"
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +5 min

Britain's blue-chip stocks (.FTSE)remained mired in the red, in line with a broader equity-market decline. FOREX: Sterling extended losses, falling 1.9% on the day to around $1.1047, having hit a new 37-year low earlier on. British homebuilders and household goods makers hit session highs, buoyed by the prospect of consumers getting tax breaks. The tax-cutting budget and ‘go for broke’ growth aims are unlikely to change the longer-term bearish GBP trend." If you get more fiscal stimulus and less monetary stimulus, that’s something that’s buoyant for the currency.

☆ Italy's right-wing bloc set for election win: five questions for markets
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +5 min

Giorgia Meloni, leader of the nationalist Brothers of Italy, is seen as frontrunner to become Italy's first female prime minister. read moreThe absence of anti-euro rhetoric seen in the 2018 election has reassured investors, for now. At around 225 basis points, the closely watched gap between 10-year Italian and German bond yields has been relatively stable . That would cause some angst since the constitution protects issues related to Italy's EU membership. read moreReuters Graphics2/ Could Italy's EU funding plan be modified?

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