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☆ Cross-selling between divisions is main driver of growth, BNP Paribas CFO says
▼ + stars: | 2024-07-24 | 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 EmailCross-selling between divisions is main driver of growth, BNP Paribas CFO saysLars Machenil, CFO at BNP Paribas, talks through the French bank's second quarter earnings.

Persons: Lars Machenil Organizations: BNP

☆ Third Plenum communique didn't cover points market was hoping for: BNP Paribas
▼ + stars: | 2024-07-22 | 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 EmailThird Plenum communique didn't cover points market was hoping for: BNP ParibasGeorge Sun, head of global markets for Greater China at BNP Paribas, discusses China's Third Plenum.

Persons: George Sun Organizations: BNP, China

☆ China surprises with cuts to key rates to support weak economy
▼ + stars: | 2024-07-22 | by ( ) www.cnbc.com time to read: +3 min

China surprised markets by lowering a key short-term policy rate and its benchmark lending rates on Monday, in efforts to boost growth in the world's second-largest economy. Minutes later, China cut benchmark lending rates by the same margin at the monthly fixing. Following the rate cuts, China's yuan dropped to a near two-week low of 7.2750 per dollar before paring some losses. He expects more rate reductions in China after the Fed enters its rate cut cycle. China's rate cuts are aimed at "strengthening counter-cyclical adjustments to better support the real economy," the PBOC said in a statement.

Persons: Larry Hu, Ju Wang, Zhang Zhiwei, Pan Gongsheng Organizations: People's Bank of, People's Bank of China, Macquarie, Greater China FX, BNP, Federal Reserve, Xinhua, Fed Locations: People's Bank of China, Beijing, China

☆ Key risk for central banks remains inflation, economist says
▼ + stars: | 2024-07-18 | 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 EmailKey risk for central banks remains inflation, economist saysLuigi Speranza, global head of Markets 360 and chief economist at BNP Paribas, weighs in the outlook for inflation and monetary policy.

Persons: Luigi Speranza Organizations: BNP Paribas

☆ The big change that could come for the economy in September
▼ + stars: | 2024-07-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

Wall Street’s expectations for a September rate cut rose to roughly 93% on Thursday from 73% the day before, according to the CME FedWatch Tool. “A September rate cut should be a done deal at this point,” wrote Ron Temple, chief market strategist at Lazard, in a Thursday note. Some economists worry that if the Fed doesn’t cut rates by then, cracks could begin to deepen in the labor market. A September rate cut “may not be the magic elixir some investors are seeking,” wrote Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management, in a Monday note. On an annual basis, consumer prices are increasing at their slowest pace since June 2023, matching the lowest annual rate since early 2021.

Persons: ”, Ron Temple, Jerome Powell didn’t, Brent Schutte, Alicia Wallace, —, Elisabeth Buchwald, McDonald’s, Read Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Lazard, Northwestern Mutual Wealth Management, Bureau of Labor Statistics ’, Taco Bell Locations: New York, Burger

☆ BNP Paribas CIO questions how long France's New Popular Front can hold together
▼ + stars: | 2024-07-08 | 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 EmailBNP Paribas CIO questions how long France's New Popular Front can hold togetherEdmund Shing, CIO of BNP Paribas Wealth Management, discusses the French election results and comments on the differing policies of the New Popular Front party.

Persons: Edmund Shing Organizations: BNP, Wealth Management, New

☆ This electric car battery takes less than 5 minutes to charge
▼ + stars: | 2024-07-01 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +5 min

London CNN —A British startup may have found the answer to one of the frustrations of driving an electric car — waiting around for the battery to charge. That is much faster than the 20 minutes or so it currently takes some electric cars using a fast charger, such as a Tesla (TSLA) Supercharger. Nyobolt’s battery is compatible with a Supercharger, the startup told CNN. “This is many multiples higher than the warranties of much larger EV batteries on the road today,” it noted. In addition, there are currently “a lot of unknowns” with the niobium battery technology, he told CNN.

Persons: London CNN —, ” Nyobolt’s, Sai Shivareddy, “, Clare Grey, Shivareddy, Paul Marchment, Jack Evans, Tesla, ” Shivareddy, Nyobolt, William Kephart, it’s Organizations: London CNN, University of Cambridge, EV, BNP, Blackball Media, CNN, European Union, American, P3 Group Locations: British, Cambridge, United States, Europe, North America

☆ An inside look at the workings of the 4-part arbitrage and momentum quant strategy driving an award-winning fund that's beaten 99% of its peers
▼ + stars: | 2024-06-29 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

For the ATRFX fund, this means betting on currencies, equities, commodities, and bonds, but not in a direct way. Instead, it employs everything from arbitrage strategies, riding out momentum and interest rates, or sitting on the sidelines when it's choppy. Over the last couple of years, higher interest rates have brought in some good yields. Related storiesOne step further is to arbitrage interest rates across currencies. Investors can do this by identifying national currencies with low interest rates, borrowing in that currency, and then lending in the currencies with higher interest rates.

Persons: David Miller, ATRFX, Miller, It's, that's, Yen, it's Organizations: Service, Systematic Alpha Fund, Business, Catalyst Capital Advisors, BNP Paribas, BNP, Commodities Commodities, Bloomberg, Federal Reserve

☆ France's shock election has rattled nerves and raised debt crisis talk
▼ + stars: | 2024-06-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +6 min

Poster of Christophe Versini for the Rassemblement National (National Rally) party, with Marine Le Pen and Jordan Bardella on it, on June 24, 2024. Recent polling suggests the far-right Rassemblement National (RN, or National Rally) party, led by Jordan Bardella, could win the most seats in the National Assembly, followed by the left-wing alliance Nouveau Front Populaire (NFP, or New Popular Front). French bond yields — which move inversely to prices — have been relatively contained. Even then, he added, the spread of French bond yields over their German counterparts looked set to remain higher than before Macron called the election. There is little concern over France enacting its own "Frexit," he said, with even National Rally having moved away from actively proposing leaving the euro area or the European Union.

Persons: Christophe Versini, Jordan Bardella, Magali Cohen, Emmanuel Macron, Sunday's, Giorgia Meloni, Viraj Patel, Patel, Liz, Truss, Andrew Kenningham, Macron, Kenningham, François Mitterrand, Christian Keller, CNBC's, Keller Organizations: Rassemblement National, Afp, Getty, National Assembly, Societe Generale, BNP, Vanda Research, Capital Economics, European Central Bank, Bank of England, Barclays, European Union Locations: Germany, Italy, Europe, France, Britain

☆ Paris loses stock market crown to London as political upheaval looms
▼ + stars: | 2024-06-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —London’s stock market has edged ahead of its rival in Paris as fears grow over the outcome of France’s looming parliamentary elections. The first round of the French elections is scheduled for June 30, followed by a second round on July 7. Hubert de Barochez, a senior market economist at consultancy Capital Economics, said investors might be concerned that a parliament run by the National Rally would penalize banks. In contrast with the political and financial turmoil in France, UK financial markets are “relatively stable,” said Rudolph at IG Group. Credit ratings agencies are already keeping a close eye on France, one of the EU’s three most-indebted countries.

Persons: Emmanuel Macron, Axel Rudolph, you’ve, ”, OpinionWay, Macron, Hubert de Barochez, Rudolph, Richard Hunter, Mohit Kumar Organizations: London CNN, Bloomberg, CAC, FTSE, European Union, “, CNN, National, BNP, Credit, Capital Economics, IG Group, Labour Party, Interactive Investor, National Rally, Jefferies Locations: Paris, France, United Kingdom, Europe’s, Britain

☆ French Stocks Tumble to Worst Week in Two Years Over Election Fears
▼ + stars: | 2024-06-14 | by ( Liz Alderman | ) www.nytimes.com time to read: +1 min

A growing realization that President Emmanuel Macron’s decision to hold snap elections in France may backfire sent the French stock market tumbling on Friday to its lowest level in two years, and prompted warnings from the French finance minister that the economy risks stumbling into a financial crisis. Amid growing signs that Marine Le Pen’s far-right party may be ushered to the brink of power, France’s benchmark stock index, the CAC 40, slumped 2.7 percent. The losses capped a weeklong losing streak that sent shares down more than 6 percent, wiping out all the bourse’s gains since the start of the year. Among the hardest hit stocks were France’s biggest banks, including BNP Paribas and Société Générale, which hold hefty amounts of French sovereign debt. Equally worrisome, the risk premium that investors demand to hold French government bonds over Germany’s, a eurozone benchmark, rose to the highest since 2017, the biggest weekly jump since 2012, when the euro debt crisis was underway.

Persons: Emmanuel Macron’s, Société Organizations: CAC, BNP Locations: France

☆ Mistral, a French A.I. Start-Up, Is Valued at $6.2 Billion
▼ + stars: | 2024-06-11 | by ( Adam Satariano | More About Adam Satariano | ) www.nytimes.com time to read: +1 min

Mistral, a French artificial intelligence start-up, said on Tuesday that it had raised 600 million euros, or about $640 million, from investors, a sign of robust interest in a company seen as Europe’s most promising rival to OpenAI and other Silicon Valley A.I. Mistral is now valued at €5.8 billion, according to a person familiar with the investment, an eye-popping sum for a company founded just one year ago by alumni from Meta and Google. Since OpenAI released ChatGPT in November 2022, investors have poured money into generative A.I. Two weeks ago, Elon Musk raised $6 billion for his start-up, xAI. OpenAI has raised roughly $13 billion from Microsoft, while another California start-up, Anthropic, has raised more than $7.3 billion.

Persons: Andreessen Horowitz, Elon Musk, OpenAI Organizations: Meta, Google, Catalyst, Lightspeed Ventures, Nvidia, Samsung, Salesforce, Cisco, IBM, BNP, Microsoft Locations: California

☆ 'Huge political gamble': France's Macron calls for snap election his rival Le Pen could easily win
▼ + stars: | 2024-06-10 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +5 min

Chesnot | Getty Images News | Getty ImagesFrench President Emmanuel Macron's decision to call a snap national election after a surge for his far-right rivals is a high-stakes move and a huge political gamble, analysts say. Macron's decision to call a snap parliamentary vote comes after the right-wing National Rally (RN) party, led by Marine Le Pen, won around 31% of the vote in Sunday's European Parliament election. That was more than double the 14.6% seen for Macron's pro-European and centrist Renaissance Party and its allies. France's CAC 40 slumped 1.8% in the early hours of trading Monday morning with French banks trading sharply lower. "This is an essential time for clarification," Macron said in a national address Sunday evening as he announced his decision to dissolve parliament.

Persons: Emmanuel Macron, Emmanuel Macron's, Macron, Le Pen, Macron —, —, Daniel Hamilton, Johns Hopkins University SAIS, Antonio Barroso, Teneo, Barroso, Le, Douglas Yates, Yates Organizations: Getty, Getty Images, Marine, Sunday's, Renaissance Party, CAC, BNP, Societe Generale, Foreign, Institute, Johns Hopkins University, CNBC, Research, National Assembly, American Graduate School Locations: Chesnot, France, Paris

☆ French election shock hits stocks and the euro
▼ + stars: | 2024-06-10 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —The decision by French President Emmanuel Macron to call a snap election after losing to the far right in a vote for European lawmakers roiled markets and the euro Monday. The first round of the French election is scheduled for June 30, followed by the second round on July 7. Under the French system, parliamentary elections are held to elect the 577 members of the lower house, the National Assembly. Higher yields indicate that investors want a bigger premium to buy French bonds given the political uncertainty. “A right-wing majority in the (French parliament) would hamper any reform plans.

Persons: Emmanuel Macron, Macron, Générale, “, ”, Mike O’Sullivan, whittle, Andrew Kenningham, ” Mohit Kumar Organizations: London CNN, BNP, Credit Agricole, National, National Assembly, CNN, Capital Economics, Jefferies Locations: Paris, Europe, —, France

☆ ECB rate cut decision expected today: BNP Paribas Asset Management
▼ + stars: | 2024-06-06 | 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 EmailECB rate cut decision expected today: BNP Paribas Asset ManagementZhikai Chen, head of Asian equities at BNP Paribas Asset Management, discusses global markets ahead of the European Central Bank's interest rate decision today.

Persons: Management Zhikai Chen Organizations: BNP, Management, Asset Management, European

☆ CNBC's Inside India newsletter: Modi's loss could be India's gain
▼ + stars: | 2024-06-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +7 min

Indian Prime Minister Narendra Modi gestures, at the Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. Adnan Abidi | ReutersThis report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Far from rewarding Prime Minister Narendra Modi's party with a supermajority — as polls had predicted — Indians elected 240 BJP lawmakers to India's 543-seat Parliament, which falls short of a simple majority for Modi's party. However, as the largest party, the BJP will form a coalition government thanks to its alliance with smaller parties ahead of the elections. This "radical transformation" is expected to lead to a significantly more efficient economy and help India's currency, according to Sullivan.

Persons: Narendra Modi, Adnan Abidi, Narendra Modi's, Modi, Gavekal, Tom Miller, Udith Sikand, Malcolm Dorson, Aastha Gudwani, who's, India's, Morgan, Ridham Desai, Will, Goldman Sachs, Abhiram Eleswarapu, Eleswarapu, Tanvir Gill, Sri Jegarajah, Sumathi Bala, Seema Mody, Amala Balakrishner, Vinay Dube, could've, James Sullivan, Sullivan Organizations: Indian, Bharatiya Janata Party, BJP, Reuters, CNBC, Global, of America, Gavekal Research, India Active, BNP, CNBC Pro, JPMorgan, U.S . Federal Locations: New Delhi, India, CNBC's

☆ Oil giant Saudi Aramco begins massive share sale to raise around $12 billion
▼ + stars: | 2024-06-02 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Saudi state oil giant Aramco commenced its secondary public offering on Sunday as the company looks to raise in the region of $12 billion. At the midpoint of that range, the sale would total around $11.5 billion but could eventually reach up to $13.1 billion. Four more banks were added to the share offering, Reuters reported on Sunday, including Credit Suisse Saudi Arabia and BNP Paribas. The share sale is the company's second, after Aramco first entered public markets in 2019 and offered 1.5% of the company to investors. Aramco is the world's largest oil company in terms of both daily crude production and market cap.

Organizations: Aramco, Saudi Arabian Oil Group, World Petroleum Congress, Saudi, Reuters, Credit Suisse Saudi, BNP Locations: Saudi, Stampede, Calgary, Canada, Credit Suisse Saudi Arabia

☆ Saudi Arabia is reportedly trying to plug a $21 billion deficit by selling bonds
▼ + stars: | 2024-05-28 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Read previewSaudi Arabia plans to raise money by selling bonds as it presses ahead with massive spending projects, Bloomberg reported. Riyadh previously sold $12 billion of sovereign debt in January, while planned desert megacity Neom has also reportedly mulled issuing Islamic bonds in a bid to raise more cash. AdvertisementThe latest bond sale comes as Saudi Arabia presses ahead with Mohammed bin Salman's Vision 2030 plan that seeks to diversify its oil-reliant economy. In February, The Wall Street Journal reported that Saudi Arabia had started borrowing to help fund Neom and other Vision 2030 "gigaprojects."

Persons: —, Goldman Sachs, Mohammed bin Salman's, Cristiano Ronaldo, Karim Benzema, Neymar, LIV, Tim Callen Organizations: Service, Bloomberg, Business, Citigroup, BNP, Saudi Pro League, Street Journal, Gulf States Institute Locations: Saudi Arabia, Riyadh, Washington, Saudi

☆ Investors are seeing a brighter future for European markets, strategist says
▼ + stars: | 2024-05-10 | 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 EmailInvestors are seeing a brighter future for European markets, strategist saysDaniel Morris, chief market strategist at BNP Paribas Asset Management, discusses the outlook for European markets.

Persons: Daniel Morris Organizations: Asset Management

☆ Next leg of China's stock market rally will be more 'gradual,' strategist says
▼ + stars: | 2024-05-09 | 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 EmailNext leg of China's stock market rally will be more 'gradual,' strategist saysJason Lui, head of Asia-Pacific equity and derivative strategy at BNP Paribas, says "there could be a little bit of profit-taking as we get into the second half of the year."

Persons: Jason Lui Organizations: BNP Locations: Asia, Pacific

☆ How $65 billion Marshall Wace is turning into the hedge funds it's criticized
▼ + stars: | 2024-05-09 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +5 min

There's a split internally at $65 billion Marshall Wace. The 27-year-old London-based hedge fund, founded by Paul Marshall and Ian Wace, has prided itself on its collaborative culture. Multi-strategy mightThe culture shift at Marshall Wace is just the latest ripple effect to come from the vast expansion of power, assets, and clout of the largest multi-strategy hedge funds. For Marshall Wace, that looks like a charge that can be up to 0.75% of the $22.4 billion Eureka fund's value — more than $150 million — on top of the set management fees and variable performance fees the firm already charges. A person close to the firm said that certain people still have access to aggregated positions, but the restriction helps Marshall Wace manage "complexity and confidentiality" as the manager continues to grow.

Persons: Marshall Wace, Paul Marshall, Ian Wace, Marshall, George Soros, It's, Marshall Wace's, You've, Dan Schatz, Ruchit, Jaime Brandwood, Derek Rosenthal, Marshall's Organizations: Business, BNP, Eureka, Citadel, Ruchit Puri Locations: London, Citadel, New York, Singapore, Shanghai, Hong Kong, Eureka

☆ Bank of England holds interest rates steady, but signals a cut is coming
▼ + stars: | 2024-05-09 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

LONDON — The Bank of England on Thursday announced a widely-expected hold on interest rates following its May meeting, as it said restrictive monetary policy was working to bring down inflation. Members of the central bank's Monetary Policy Committee voted 7-2 to hold, with the latter favoring a cut. In the prior meeting only one member voted for a cut. It keeps the BOE's key Bank Rate at 5.25%. Some economists see a cut as soon as the next meeting in June, and three or more cuts in 2024.

Persons: Matthew Swannell, CNBC's Organizations: Bank of England, Monetary, MPC, BNP

☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ Will China's comeback stock rally last? Wall Street weighs in and shares stock picks
▼ + stars: | 2024-05-07 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

China stocks have staged such a strong rally after a protracted slump for the past few years that they're beating even the S & P 500 so far this year. The MSCI China index, which includes the mainland A-shares, Hong Kong-listed shares and U.S.-listed China names, has jumped around 9%, while the KraneShares CSI China Internet ETF is up around 13%. Most analysts said whether the rally can be sustained will largely depend on China policy. How to play China Though most were bullish on China stocks, they would be selective in stock-picking. They include: SPDR S & P China ETF iShares MSCI China A ETF Global X MSCI China Consumer Disc ETF iShares MSCI Hong Kong ETF — CNBC's Michael Bloom contributed to this report.

Persons: Bernstein, it's, —, Goldman Sachs, Kevin Liu, CICC, Nomura's, Goldman, Kweichow, Ping, Morningstar, Michael Bloom Organizations: U.S, CSI China, Investors, CICC Research, CNBC, BYD, SAIC, Changan Automobile, Energy, Anhui, Cement, JPMorgan, Kuaishou, Ping An Insurance, China Merchants Bank, Hong, China, iShares, China Consumer Locations: China, Hong Kong

☆ Credit Agricole's first-quarter earnings jump as investment banking beats rivals
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +2 min

Credit Agricole , France's second-biggest listed bank, posted a forecast-beating 55% jump in first-quarter net profit on Friday, helped by corporate and investment banking sales that outperformed rivals. Net profit in the January to March period rose to 1.9 billion euros ($2.04 billion), above the 1.48 billion-euro average of 19 analyst estimates compiled by the company. Sales climbed 11% to 6.81 billion euros, topping analyst expectations of 6.47 billion euros. The cost of risk, or money put aside for bad loans, was 400 million euros, 105 million euros less than expected. Targets include annual underlying net income of more than 6 billion euros and a return on tangible equity of more than 12%.

Persons: Amundi Organizations: Credit Agricole, BNP Paribas, Societe Generale, Agricole Locations: France's, France

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