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☆ Why the stock market's running of the bulls might be about to kick off
▼ + stars: | 2023-04-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Optimists rejoice — Wall Street strategists just pinpointed a handful of trends, indicators, and gauges that all suggest 2023 could see a new running of the bulls. The S&P 500 has already seen a sturdy 8% gain to start 2023, but year-end gains could be even bigger if one of BofA's bullish surprises pan out. "The S&P 500 has now spent more than 25 weeks above its 200-week moving average," Lee said. "Since 1950, there are zero instances of the S&P 500 making a new low once it has recovered above the 200-week moving average and spent at least 15 weeks there." US stock futures rise early Monday, as investors brace for a crucial week of earnings reports to weigh recession risks.

☆ A top investor in Charles Schwab sold its entire $1.4 billion stake as the brokerage fell victim to the banking turmoil
▼ + stars: | 2023-04-14 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

A top investor in Charles Schwab sold its entire stake amid turmoil in the banking sector in March. GQG told the Financial Times it had ditched its $1.4 billion stake in the lender. A top investor in Charles Schwab dumped its entire $1.4 billion stake as the brokerage fell victim to turmoil in the banking sector, according to the Financial Times. "With all the inflows to money-market funds Charles Schwab is losing deposits revenue," said Barker. Like SVB, Charles Schwab pumped billions of dollars into US Treasury securities at a time when interest rates were near-zero levels.

☆ Adani trumpets stable ties to global banks in bid to ease investor worries, document shows
▼ + stars: | 2023-04-05 | by ( Aditya Kalra | ) www.reuters.com time to read: +3 min

The document, which was reviewed by Reuters, did not elaborate on how the lenders reaffirmed their commitment to the Adani group. Adani group did not respond to a request for comment. Mitsubishi UFJ Financial Group Inc (MUFG) (8306.T), Sumitomo Mitsui Financial Group Inc's (8316.T) SMBC unit, Mizuho Financial Group (8411.T), Standard Chartered (STAN.L) and Deutsche Bank (DBKGn.DE) did not immediately respond. CONCERNS ABOUT DEBTThe Hindenburg report had sparked concern among investors about banks' exposures to the Adani group. Now, 39% of Adani's debt is currently in the form of bonds, 29% is from global banks and 32% comes from public or private banks in India, the Adani document added.

Australia's second largest airline is in talks with banks including Goldman Sachs (GS.N) and UBS (UBSG.S) about the loan, said the sources, although no decision has been made yet and the size of the debt has not been finalised. The sources did not wish to be identified as the discussions were private. The airline's owner Bain Capital and Goldman Sachs declined to comment. Bain said in January it would explore re-listing Virgin, which it bought for A$3.5 billion ($2.45 billion) including liabilities in 2020 after it was placed in voluntary administration, the closest Australian equivalent to Chapter 11 bankruptcy. It hired Goldman, UBS and Barrenjoey last month as lead managers for the potential initial public offering (IPO).

☆ GQG Partners likely to increase Adani investment, says founder
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, March 8 (Reuters) - GQG Partners would likely expand its investment in the Adani group, the fund firm's founder Rajiv Jain said on Wednesday, a week after its $1.9 billion infusion into the embattled Indian conglomerate. GQG Partners, co-founded by Jain in 2016, bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller's critical report in January sparked a stock rout. Last week, pension fund investor Cbus Super, with A$71 billion ($46.82 billion) under management, told Reuters they had queried GQG about the Adani purchase. A GQG spokesperson said Jain's trip had been planned for some time and the discussions included topics other than Adani. Jain said he has not had a conversation with the Adani group since the transaction.

☆ Indian open lower on rate fears after Powell's testimony
▼ + stars: | 2023-03-08 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

The Nifty 50 index (.NSEI) fell 0.49% to 17,625.95, while the S&P BSE Sensex (.BSESN) lost 0.48% to 59,931.07 as of 9:31 a.m. IST. The slide comes after Powell's testimony before the U.S. Congress on Tuesday, in which he said strong economic data in the United States raised the possibility of prolonged and higher-than-expected interest rate hikes. Global markets fell after Powell's testimony, with the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) losing 1.82%. Thirty-seven of the Nifty 50 constituents logged losses with Hindalco (HALC.NS) and IT stocks falling the most. The group's flagship firm Adani Enterprises (ADEL.NS) rose over 1% and was the top Nifty 50 gainer.

SYDNEY, March 7 (Reuters) - GQG Partners Inc founder Rajiv Jain will meet clients and investors in Australia this week, the company said in a statement on Tuesday, and will explain its investment into embattled Indian Adani group. GQG Partners bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller's critical report sparked a stock rout. "Rajiv Jain is visiting Australia this week to meet with investors. "It's also an opportunity to respond to any questions they have about the business including the Adani investment." It purchased the stock from the Adani family trust, according to the Indian firm's filings.

☆ India's Adani Group pre-pays over $900 million worth share-backed financing
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, March 7 (Reuters) - Embattled Indian conglomerate Adani Group said it prepaid share-backed financing of 73.74 billion rupees ($901.16 million), as it looks to allay fears over leverage and debt since a U.S. short seller's critical report sparked a stock rout. Promoters of the group's flagship firm, Adani Enterprises (ADEL.NS), will release 31 million shares, or a 4% stake, while Adani Ports' (APSE.NS) promoters will release 155 million shares, or an 11.8% stake, the group said in a statement on Tuesday. Promoters of Adani Green Energy (ADNA.NS) and Adani Transmission (ADAI.NS) will release 1.2% and 4.5% stakes in the respective companies. With Tuesday's repayment, the group has so far repaid around $2.02 billion of share-backed financing, it said. GQG's founder Rajiv Jain will meet clients and investors in Australia this week to explain its investment in the Adani group, the company said in a separate statement on Tuesday.

☆ GQG Partners' CIO Rajiv Jain on his Adani Group investment thesis
▼ + stars: | 2023-03-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGQG Partners' CIO Rajiv Jain on his Adani Group investment thesisSeema Mody speaks to GQG Partners CIO Rajiv Jain, who is betting on the embattled Indian industrialist Gautam Adani with a $1.9B investment.

☆ Indian shares set to open higher on improved risk sentiment
▼ + stars: | 2023-03-06 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, March 6 (Reuters) - Indian shares are set to open higher on Monday after strong economic data from the United States and investment in the Adani group of companies boosted risk appetite. Indian shares logged weekly gains on Friday after U.S. boutique investment firm GQG Partners' $1.87 billion investments in Adani group stocks spurred a broad-based rally and improved risk sentiment. ** Info Edge (INED.NS): Co's unit to invest 52 mln rupees in Sploot, a platform for pet parenting. ** Kansai Nerolac (KANE.NS): Co approves acquisition of 40% of total shareholding of Nerofix from Polygel for 370 mln rupees. ($1 = 81.6800 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ Embattled Adani Group receives a vote of confidence from U.S. asset manager
▼ + stars: | 2023-03-06 | by ( Seema Mody | ) www.cnbc.com time to read: +3 min

Chairperson of Indian conglomerate Adani Group, Gautam Adani, speaks at the World Congress of Accountants in Mumbai on November 19, 2022. Indranil Mukherjee | AFP | Getty ImagesIndia's embattled industrialist Gautam Adani received a much-needed vote of confidence from a well-respected U.S. asset manager ahead of a crucial bond roadshow that's underway. "Controversy is part of how you get better returns," Jain told CNBC in an exclusive interview. Jain's investment follows a massive decline in Adani's stock price amid criticism of the Indian firm's practices. Shares of Adani Enterprises and Adani Ports are up 66% and 23% over the past seven days, respectively.

SYDNEY/BENGALURU, March 3 (Reuters) - Adani shares surged on Friday after a $1.87 billion investment in the group by GQG Partners Inc eased concerns about the group's ability to attract funding, while the conglomerate lined up more road shows to shore up investor confidence. Adani Group will hold road shows this month in London, Dubai and several cities in the United States, according to a document seen by Reuters. Overall, Adani group firms' net debt totalled $24.1 billion as of September 2022. Adani Green Energy and Adani Transmission jumped 5% each. Dollar bonds issued by Adani entities also rallied, with Adani Green Energy's 2024 bond adding 2.3 cents on the dollar to trade at 85.5 cents, while most bonds issued by Adani Ports and Special Economic Zone, Adani Transmission and Adani Electricity Mumbai rose by more than 1 cent.

☆ Australian pension fund client queries GQG about Adani investment
▼ + stars: | 2023-03-03 | by ( Lewis Jackson | ) www.reuters.com time to read: +2 min

SYDNEY, March 3 (Reuters) - An Australian pension fund client of GQG Partners has asked the U.S. boutique investment firm for more information about its nearly $1.9 billion investment in the embattled Indian Adani group. GQG Partners bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller's critical report sparked a stock rout. Cbus Super, with A$71 billion under management, has a A$243 million emerging markets mandate with GQG Partners. The $258 billion fund had no investments in Adani Group companies as of June 2022, according to a review of the most recent holdings disclosures. Shares of Australia-listed GQG Partners closed down 3% on Friday after news of the investment was made public.

☆ Adani contrarian is a win for Hindenburg, too
▼ + stars: | 2023-03-03 | by ( Una Galani | ) www.reuters.com time to read: +6 min

GQG Partners is snapping up shares in four of the Indian tycoon’s nine core companies, including the flagship Adani Enterprises (ADEL.NS), along with Adani Green Energy (ADNA.NS), Adani Ports and Special Economic Zone (APSE.NS) and Adani Transmission (ADAI.NS). The mogul was trying to do just that last month with a $2.5 billion Adani Enterprise share sale before it was scuppered by Hindenburg’s sortie. Barring something truly exceptional, the scars of Hindenburg’s successful attack on Adani will linger for a while. GQG bought shares in Adani Ports and Special Economic Zone, Adani Green Energy, Adani Transmission and Adani Enterprises from entities owned by the Adani family. Adani has dismissed the allegations outlined in U.S. fund Hindenburg Research’s Jan. 24 report.

☆ Adani shares soar as US investor steps in
▼ + stars: | 2023-03-03 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Shares in some of Indian billionaire Gautam Adani’s companies soared Friday after a US private equity firm agreed to invest nearly $1.9 billion in his embattled conglomerate. The Adani Group said Thursday that GQG Partners had bought $1.87 billion of stock in secondary market trades across four of its companies. Shares of the group’s flagship company, Adani Enterprises, soared nearly 17% following the announcement. Shares of Adani Ports rose almost 10%, while Adani Green Energy and Adani Transmission both gained 5%. And Australia-listed GQG Partners, which manages more than $92 billion in assets, doesn’t appear to share the concerns of other investors.

☆ Morning Bid: Inflation 'blip' or brave new world?
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +5 min

U.S. Federal Reserve officials wrestled on Thursday with whether recent data showing inflation, jobs and spending all hotter than expected was a flash in the pan. "It could be that progress has stalled, or it is possible that the numbers released last month were a blip," said Fed Governor Christopher Waller. Atlanta Fed President Raphael Bostic urged a "slow and steady" course of policy response. The resilience of stock markets more generally to the week's bond market quake is notable and slightly puzzling - with implied volatility in bonds (.MOVE) climbing sharply while stock market equivalents (.VIX) subside. Two-year U.S. inflation expectations in the Treasury market climbed to 3% from 2% since early last month.

BENGALURU, March 2 (Reuters) - U.S. boutique investment firm GQG Partners has bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller's critical report sparked a stock rout. U.S-based, Australia-listed GQG has, through block deals, bought shares worth 154.46 billion rupees in four Adani group companies, including the conglomerate's flagship firm Adani Enterprises (ADEL.NS), a regulatory filing showed. GQG took a 3.4% stake in Adani Enterprises for about $662 million, 4.1% in Adani Ports for $640 million, 2.5% in Adani Transmission for $230 million, and a 3.5% stake in Adani Green Energy for $340 million. "This transaction marks the continued confidence of global investors in the governance, management practices and the growth of Adani Portfolio of companies," said Adani Group CFO Jugeshinder Singh. In the run-up to the announcement, Adani group shares rallied, with Adani Enterprises climbing nearly 35% over the last three sessions, Adani Ports 11% and Adani Green Energy 16%.

☆ TSMC out of favor with slew of funds alongside Berkshire, filings show
▼ + stars: | 2023-02-15 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

The announcement drove shares in TSMC down 6% on Wednesday, although they remain up 23.5% this year. Equity long-short hedge fund Tiger entirely sold its 1.3 million shares in TSMC in the fourth quarter, a stake worth $119 million at current prices. Fund manager Capital Group also sold over 9.5 million shares in the chipmaker, regulatory filings showed. JPMorgan and BlackRock dumped roughly 4 million shares in TSMC each. On Tuesday, Charles Munder, a director and vice-chairman of Berkshire, said TSMC is the "strongest semiconductor company on earth," without elaborating on the reasons for the sale.

☆ Oil and gas are making a comeback — and these mutual funds are jumping on the trend, says Morningstar
▼ + stars: | 2022-09-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

The S & P 500's oil and gas sector has risen by nearly 30% this year while the broader market has sold off. Here's a selection of funds that Morningstar says have recently bought oil and gas stocks. BlackRock BGF World Energy It's not just the diversified funds that are making significant moves within the energy sector, however. A 'completely missing' picture Shares in nearly all oil and gas companies have fallen over the past three months following a decline in crude oil prices. Why have funds avoided oil & gas in the past?

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