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Why are global bond yields rising? With inflation excluding food and energy prices elevated and the U.S. economy resilient, central banks are pushing back against rate cut bets. Many investors were also betting bond yields would drop, so are extra sensitive to moves in the opposite direction, analysts say. That is no surprise, and analysts do not rule out a rise in 10-year Treasury yields to 5%, from 4.7% now . Bond yields determine governments' funding costs, so the longer they stay high, the more they feed into the interest costs countries pay.

Persons: Brendan McDermid, August's, Goldman Sachs, Mahmood Pradhan, Treasuries, Andrea Kiguel, Yoruk, Dhara Ranasinghe, Karin Strohecker, Marc Jones, Amanda Cooper, Ed Osmond Organizations: New York Stock Exchange, REUTERS, U.S . Treasury, August's Fitch, Reuters, Treasury, Deutsche Bank, Amundi Investment, U.S, JPMorgan, Barclays, Yoruk Bahceli, Thomson Locations: New York City, U.S, Germany, Japan, Italy, Europe, Americas, Amsterdam, London

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Meanwhile, a partial government shutdown is looming, which could affect the release of economic data and potentially dent economic growth. The greenback is up 3.54% against the yen this quarter, following an 8.66% gain last quarter. Core inflation in Japan's capital slowed in September for the third straight month mainly on falling fuel costs, data showed on Friday. The British currency is on track for a quarterly loss of 3.85% against the U.S. dollar, the worst performance in a year.

Persons: Florence Lo, ”, Peter Cardillo, Brown Brothers Harriman, “ We’re, Janet Yellen, Sterling, Karen Brettell, Amanda Cooper, Stephen Culp, David Holmes, Nick Zieminski Organizations: U.S, REUTERS, Spartan Capital Securities, Federal Reserve, Brown Brothers, Republicans, U.S . House, Treasury, U.S ., Thomson Locations: New York, U.S, London

☆ Dollar set for best quarter in a year; yen-watch rumbles on
▼ + stars: | 2023-09-29 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. "We've had resilience in the U.S. economy, in the jobs market, inflation ticking higher and, obviously, the rise in oil prices. "We're not really expecting to see any rate cuts for quite some time, well toward the back end of 2024. Markets are looking ahead to the next data points, starting with key U.S. personal consumption data due later on Friday. The yen last traded at 149.125 to the dollar, which eased 0.13% on the day.

Persons: Florence Lo, Fiona Cincotta, We're, Tony Sycamore, we've, Sycamore, Thomas Barkin, Yasunari Ueno, Brigid Riley, Gerry Doyle, Neil Fullick, Kevin Liffey Organizations: U.S, REUTERS, Treasury, City Index, Federal Reserve, IG, Richmond Fed, Mizuho Securities, Sterling, National Statistics, COVID, Thomson Locations: U.S, City, Tokyo

☆ UBS shares briefly halted on report of growing U.S. probe over Russian sanctions
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

A UBS logo is seen next to Credit Suisse at the Bahnhofstrasse before a news conference of Swiss bank UBS in Zurich Switzerland, August 30, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsLONDON, Sept 27 (Reuters) - Trading in UBS (UBSG.S) shares was briefly halted on Wednesday, after Bloomberg reported the Swiss bank and defunct rival Credit Suisse face a growing U.S. probe over alleged Russian sanctions evasion. UBS shares dropped as much as 7.9% by 1049 GMT, before being halted. Trading was reinstated at 1054 GMT and shares regained some ground, last down 4.2%. UBS shares are still up by nearly 50% since the four-month lows hit in late March, as it kicked off its emergency takeover of Credit Suisse, and are trading near their highest in 15 years.

Persons: Denis Balibouse, Lucy Raitano, John Revill, Amanda Cooper Organizations: UBS, Credit Suisse, Swiss, REUTERS, Bloomberg, Trading, Reuters, Thomson Locations: Zurich Switzerland, Swiss, London, Zurich

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 20, 2023. The 30-year bond was last up 11.8 basis points to yield 4.6397%, from 4.522%. The 2-year note was last was down 0.9 basis points to yield 5.1141%, from 5.123%. In currencies, the dollar index rose 0.455%, with the euro down 0.69% to $1.0578.Sterling was last trading at $1.22, down 0.31% on the day. In energy markets, oil prices edged lower in choppy trade on Monday as Russia relaxed its fuel ban, after earlier gains on a tighter supply outlook, while investors eyed elevated interest rates that could curb demand.

Persons: Brendan McDermid, Powell, Austan Goolsbee, Mona Mahajan, Edward Jones, Mahajan, Sterling, Kazuo Ueda, Brent, Sinéad Carew, Amanda Cooper, Stella Qiu, Himani Sarkar, Jacqueline Wong, Miral Fahmy, Mark Heinrich, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, U.S . Federal Reserve, Chicago Fed, Dow Jones, Nasdaq, Bank of Japan, Thomson Locations: New York City, U.S, Russia, New York, London

☆ Shares drop as 'higher-for-longer' rate outlook rattles investors
▼ + stars: | 2023-09-25 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 22, 2023. The MSCI All-World index (.MIWD00000PUS), which is heading for its worst monthly performance this year, with a 3.6% drop, was down 0.2% on the day. U.S. 10-year Treasury yields have nudged at 4.5% for the first time since October 2007, and on Monday were up 5 basis points at 4.491%, set for their largest monthly rise in a year, reflecting investor unease over the economic outlook. The dollar index got a boost from the rise in Treasury yields, rising 0.1% on the day. Brent crude futures rose 0.2% to $93.48 a barrel, while West Texas Intermediate rose 0.1% to $90.16.

Persons: Jerome Powell, Frederik Ducrozet, Ducrozet, Powell, Evergrande, Andrew Lilley, Kazuo Ueda, Stella Qiu, Himani Sarkar, Jacqueline Wong, Miral Fahmy, Mark Heinrich Our Organizations: REUTERS, Staff, Global, European Central Bank, Bank of England, Federal Reserve, Treasury, Pictet Wealth Management, Nasdaq, Barrenjoey, Bank of Japan, Brent, West Texas, Thomson Locations: Frankfurt, Germany, U.S, Europe, CHINA

☆ LSEG's Refinitiv Eikon platform suffers outage in Europe
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: 1 min

Sept 25 (Reuters) - Users of London Stock Exchange's (LSEG.L) Refinitiv news and data platform Eikon said on Monday they experienced brief outages across some countries in Europe. LSEG said it was working to resolve the issue. We are working diligently to identify the problem and resolve it as soon as possible," a Refinitiv customer support executive said in an email. As of 1119 GMT live prices appeared to be updating and some Eikon users also said the service had resumed. Reporting by Danilo Masoni; Editing by Amanda Cooper and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: LSEG, Danilo Masoni, Amanda Cooper, Susan Fenton Organizations: London Stock, Thomson Reuters, Reuters, Thomson Locations: Europe, LSEG

☆ Investors shed stocks at fastest weekly rate in 2023
▼ + stars: | 2023-09-22 | by ( Lucy Raitano | ) www.reuters.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Sept 22 (Reuters) - Investors sold stocks at the fastest weekly rate this year in the week to Wednesday, Bank of America Global Research said in a report on Friday. Equities recorded a weekly outflow of $16.9 billion, while investors bought $2.5 billion of bonds, which recorded a 26th straight week of inflows, BofA said, citing EPFR data. European equities logged their 28th straight week of outflows, with investors shedding $3.1 billion in this latest week. Energy stocks recorded their largest weekly inflow since March, totalling $600 million, alongside soaring oil prices.

Persons: Brendan McDermid, BofA, Lucy Raitano, Amanda Cooper, Jane Merriman Organizations: New York Stock Exchange, REUTERS, Bank of America Global Research, Federal Reserve, Bank of England, Energy, Investors, Thomson Locations: New York City, U.S

☆ Investors shed stocks at the fastest weekly rate in 2023
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Sept 22 (Reuters) - Investors sold stocks at the fastest weekly rate this year in the week to Wednesday, Bank of America Global Research said in a report on Friday. Equities recorded a weekly outflow of $16.9 billion, while investors bought $2.5 billion, of bonds, which recorded a 26th straight week of inflows, BofA said, citing EPFR data. They also pulled $300 million from gold and $4.3 billion in cash. Year-to-date however, investors have ploughed $1 trillion into cash.

Persons: Brendan McDermid, BofA, Lucy Raitano, Amanda Cooper Organizations: New York Stock Exchange, REUTERS, Bank of America Global Research, Thomson Locations: New York City, U.S

☆ Take Five: An inflationary dilemma
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +5 min

The week ahead brings more evidence of how much progress is left for developed-economy policymakers, while in the emerging world, India is set to enter the bond-market big time and a raft of central banks wrestle with a dilemma. The personal consumption expenditures (PCE) price index rose 3.3% in the 12 months through July. Line chart with data from LSEG Datastream show the U.S.'s inflation on personal consumption expenditures (PCE), core PCE inflation and the federal funds target rate from 2019 to 2023. Reuters Graphics5\ASIA'S CURRENCY CONUNDRUMAsian central banks have a dilemma: how to handle weakening economic growth and peaking inflation, while arresting the slide in currencies to maintain stability in their financial systems. But much may rest on decisions of other central banks further afield, namely the Federal Reserve.

Persons: Lewis Krauskopf, Naomi Rovnick, Karin Strohecker, Amanda Cooper, Perry Warjiyo, Toby Chopra Organizations: Federal, Fed, European Central Bank, ECB, Reuters, CLUB India, JPMorgan, Russell, Bank of, Bank, Thailand, Reserve, Thomson Locations: India, Vidya Ranganathan, Singapore, New York, London, Washington, U.S, Saudi Arabia, Russia, Bank of Indonesia, Philippine

☆ Reactions: Bank of England bashes pound after halting rate rises
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +8 min

A pedestrian carrying an umbrella walks near the Bank of England in the City of London, Britain, July 30, 2023. Investors had already rushed on Wednesday to reel in their bets on further UK rate rises after data showed UK inflation cooled surprisingly quickly in August. Against the euro , the pound was down 0.5% at 86.74 pence, having traded around 86.70 pence before the decision. "The MPC still refers to its flexibility to react should things change, but the chances are this could be the peak in this UK interest rate cycle." "However, there is a risk that the ‘lag effect’ on interest rate hikes means that today’s decision may not be felt for another 9 to 12 months."

Persons: Hollie Adams, Sterling, THOMAS, Huw Pill's, HUGH GIMBER, PHILIP SHAW, DOUGLAS GRANT, JEREMY BATSTONE, CARR, RAYMOND JAMES, FRANCES HAQUE, JOE TUCKEY, RICHARD GARLAND, GILES COGHLAN, BoE, stagflation, Amanda Cooper, Dhara Organizations: Bank of England, City of, REUTERS, London, Investors, Bank of, Bank, MPC, SANTANDER, LONDON, Core CPI, PMI, CPI, EMEA, Thomson Locations: City, City of London, Britain, London, MANX, EUROPEAN, FRANCE, GROUP, OXFORDSHIRE

☆ UniCredit cements lead as top-performing euro zone bank stock
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

Unicredit logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsMILAN, Sept 21 (Reuters) - Shares in Italian lender UniCredit (CRDI.MI) rose further on Thursday, hitting their highest since January 2016 and cementing their lead as top-performing euro zone bank stock of 2023. Giving further impetus to UniCredit's rally was the bank's surprise announcement on Wednesday to bring forward up to 2.5 billion euros of its 2023 share buyback plan. "This move comes largely unexpected and sends a message of confidence about the next few months despite the uncertain outlook: we expect UCG will continue to outperform in the near to medium term," wrote Deutsche Bank analysts in a note. Reporting by Danilo Masoni; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, UniCredit, Danilo Masoni, Amanda Cooper Organizations: REUTERS, BPER Banca, Banco, Deutsche Bank, Thomson

☆ High oil prices don't make Europe energy stocks attractive to all
▼ + stars: | 2023-09-20 | by ( Lucy Raitano | ) www.reuters.com time to read: +4 min

The STOXX 600 European oil and gas index (.SXEP) is at its highest since mid-February, having gained around 13.5% in the past two months. In the same period, benchmark Brent crude has risen 18% and European natural gas prices have gained 50%. He said higher oil prices could prompt upgrades to earnings estimates, and potentially dividends too. "The whole energy sector should benefit, but the downstream sector is looking very cheap and offers a high dividend which is attractive given higher interest rates," said Cau. Bank of America strategists have an underweight rating on European energy stocks.

Persons: Heinz, Peter Bader, Brent, Mislav Matejka, Morgan Stanley, Emmanuel Cau, Andreas Bruckner, Lucy Raitano, Amanda Cooper, Miral Organizations: REUTERS, Brent, Reuters, JPMorgan, Barclays, Bank of America, Thomson Locations: Zistersdorf, Austria, Saudi Arabia, Russia, China

☆ Euro gains, yen struggles in central bank-packed week
▼ + stars: | 2023-09-19 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

A Reuters report on Monday citing six sources said the debate over the multi-trillion-euro pool of excess liquidity sloshing around banks was likely to start next month. However, this might not be enough to give the euro a more sustained boost, according to Lee Hardman, a strategist at MUFG. "While the ECB’s reported plans to tighten excess liquidity in the euro area have helped to support the euro, they are unlikely to be sufficient on their own to turn the current weakening trend," he said. This week brings a raft of central bank meetings, including those of the Federal Reserve, the Bank of Japan, the Bank of England and the Swiss National Bank, among others, which kept currency volatility on the subdued side. In other currencies, sterling edged up 0.1% at $1.2398, ahead of an interest rate decision from the BoE on Thursday.

Persons: Dado Ruvic, Lee Hardman, Kazuo Ueda, Rodrigo Catril, Erik Weisman, BoE, Rae Wee, Lincoln, Peter Graff, Hugh Lawson Organizations: REUTERS, European Central Bank, Reuters, ECB, Federal Reserve, Bank of Japan, Bank of England, Swiss National Bank, National Australia Bank, NAB, U.S, Fed, MFS Investment Management, Thomson Locations: U.S

☆ Take Five: A central bank bonanza
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +5 min

Now it's the turn of the world's most important central bank. Also on Thursday, the Bank of England is tipped to hike for the 15th consecutive meeting, taking benchmark borrowing costs to 5.5%. Norway's central bank is also expected to nudge benchmark borrowing costs higher, following a 25 bps rise in August to 4%. Reuters Graphics4/ DIVERGING TRAJECTORIESThe push and pull factors on central banks are nowhere more visible than in emerging markets. But for Turkey's central bank, convening on Thursday, the only way is up.

Persons: Lewis Krauskopf, Kevin Buckland, Amanda Cooper, Naomi Rovnick, Karin Strohecker, Jerome Powell, Kazuo Ueda, Ueda, hypothesise, Tayyip Erdogan, Mark Heinrich Our Organizations: U.S . Federal, ECB, Bank of England, Reuters, Bank of Japan, Japan's, of Finance, Thomson Locations: Central, Lewis, New York, Tokyo, London, United States, Europe, Scandinavia, Switzerland, Norway's, Latin America, South Africa, Egypt, Taiwan

☆ Investors glimpse opportunity in Europe's unloved mining shares
▼ + stars: | 2023-09-15 | by ( Samuel Indyk | ) www.reuters.com time to read: +6 min

The metals and mining sector is typically used as a proxy for equity investors in Europe to gain exposure to China, given it is the world's largest commodities consumer, and it has sunk along with China's growth expectations. But Beijing in recent weeks has taken targeted steps towards supporting key pockets of its economy, lifting the mining sector off its 31-month lows. In the last month, the mining index has risen nearly 10% compared with a gain of just 2.5% for the wider STOXX 600. Sweeney says this wide range of measures could be a catalyst for an upturn in the metals and mining sector. "Obviously, the 800-pound gorilla from a primary metal demand perspective is China," Peter Mallin-Jones, mining analyst at UK investment bank Peel Hunt, said.

Persons: Ints, Nathan Sweeney, multiasset, Sweeney, LSEG, Peter Mallin, Peel Hunt, Jones, Daniel Major, Marlborough Investment Management's Sweeney, Samuel Indyk, Amanda Cooper, Elaine Hardcastle Organizations: REUTERS, Equity, Marlborough Investment Management, Miners, London Metal, Morningstar, UBS, Rio Tinto, BHP Group, Major, Marlborough Investment, Thomson Locations: Garpenberg, Sweden, China, LONDON, Europe, Beijing, Singapore, India, Indonesia, Malaysia, Nigeria, United States, Rio, Antofagasta, Rio Tinto, Marlborough

☆ Novo Nordisk owner invests $290 million in energy transition fund
▼ + stars: | 2023-09-14 | by ( Maggie Fick | ) www.reuters.com time to read: +2 min

FILE PHOTO-A coffee machine featuring Novo Nordisk logo is seen at the company headquarters in Copenhagen, Denmark, February 5, 2020. REUTERS/Jacob Gronholt-Pedersen/File Photo Acquire Licensing RightsCompanies Novo Nordisk A/S FollowLONDON, Sept 14 (Reuters) - The controlling shareholder in drugmaker Novo Nordisk on Thursday announced a major investment in a new energy transition fund as it expands its portfolio beyond health. Novo Holdings controls 76% of the votes in Denmark's Novo Nordisk (NOVOb.CO), which became Europe's most valuable company last week on the back of soaring profits from its weight-loss drug Wegovy and type 2 diabetes drug Ozempic. Novo Holdings' capital to invest is burgeoning on Novo Nordisk's financial performance. Novo Holdings is wholly owned by the Novo Nordisk Foundation, which lists its aims as providing "a stable basis for the commercial and research activities conducted by the companies within the Novo Group", of which Novo Nordisk is the largest, and supporting "scientific, humanitarian, and social purposes."

Persons: Jacob Gronholt, Pedersen, Morten Beck Jorgensen, " Jorgensen, Maggie Fick, Amanda Cooper, Elaine Hardcastle Organizations: Novo Nordisk, REUTERS, drugmaker Novo Nordisk, Novo Holdings, Denmark's, Denmark's Novo Nordisk, Holdings, Glentra Capital, Glentra, Reuters, Novo, Novo Nordisk Foundation, Thomson Locations: Copenhagen, Denmark, drugmaker Novo, Denmark's Novo, Glentra Capital

☆ Wall Street gains, dollar eases ahead of CPI report
▼ + stars: | 2023-09-11 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. The relatively languid session appeared to be the calm before a storm of U.S. economic data this week, with Wednesday's crucial consumer prices report (CPI) paramount. "Investors are focusing on how they will respond to Wednesday's CPI report," Stovall added. Emerging market stocks rose 0.48%. Gold prices headed higher in opposition to the dollar.

Persons: Brendan McDermid, Sam Stovall, Stovall, Kazuo Ueda, Sterling, Brent, Stephen Culp, Amanda Cooper, William Maclean, Angus MacSwan Organizations: New York Stock Exchange, REUTERS, Bank of, Nasdaq, Tesla Inc, CFRA Research, CPI, U.S, Financial, Bank of Japan, Dow Jones, Bank's, Japan's Nikkei, Treasury, Thomson Locations: New York City, U.S, Bank of Japan, New York, U.S . Federal, Japan, Asia, Pacific, Russian, Saudi, London

☆ AstraZeneca shares fall 3.6% to 7-1/2 week low
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: 1 min

The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange, U.S., April 8, 2019. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Sept 11 (Reuters) - Shares in London-listed drugmaker AstraZeneca (AZN.L) declined as much as 3.6% on Monday, falling to their lowest since July 19. Reuters could not independently verify the information. AstraZeneca declined to comment on the report. Reporting by Samuel Indyk and Maggie Fick; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Pascal Soriot, Samuel Indyk, Maggie Fick, Amanda Cooper Organizations: AstraZeneca, New York Stock Exchange, REUTERS, Traders, Reuters, Thomson Locations: London

☆ Shares rise, dollar drops vs yen after BOJ hint of shift in policy
▼ + stars: | 2023-09-11 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

The yen surged after BOJ Governor Kazuo Ueda said the central bank could end its policy of negative interest rates when the achievement of its 2% inflation target is in sight. Global shares, as reflected by the MSCI All-World index (.MIWD00000PUS), rose 0.1%, supported by a bounce in stocks in Europe, where the STOXX 600 (.STOXX) gained 0.3%. Last week, the STOXX posted its longest stretch of losses in 5-1/2 years. Economists polled by Reuters expect consumer prices to have risen by 3.6% from last year, up from July's 3.2% reading. The ECB meets on Thursday to set interest rates and markets have all but priced out any chance of a hike.

Persons: Kazuo Ueda, Fiona Cincotta, Marcella Chow, Scott Murdoch, Simon Cameron, Moore, Mark Heinrich, Chizu Organizations: Bank of Japan, Global, European Central Bank, Reuters, JPMorgan Asset Management, Brent, ECB, Thomson Locations: China, Europe, U.S, Asia, Sydney

☆ European retailers risk dressing-down from investors as consumers flinch
▼ + stars: | 2023-09-11 | by ( Joice Alves | ) www.reuters.com time to read: +5 min

Reuters GraphicsThe broader STOXX 600 (.STOXX) is up by 7% this year, meaning retailers are outperforming by the most on record. The snag is that this stellar run has been partly built on investors unwinding bearish bets, or short positions, on retail stocks, after last year's pessimism proved overdone. This means retail stocks might not see as many willing buyers as earlier this year. Jones expects retail stocks to fall in the second half of the year. JPMorgan downgraded the grocery retail sector this month and flagged the prospect of price declines going into 2024.

Persons: Inditex, unwinding, Benjamin Jones, Jones, Florian Ielpo, Ielpo, WH Smith, Alexandre Bompard, LSEG, Joice Alves, Amanda Cooper, Tomasz Janowski Organizations: Reuters, Macro, Multi, Management, Carrefour, JPMorgan, Deutsche Bank, Thomson Locations: Zara, bullish, LSEG, Britain

☆ Lansdowne to launch fund aimed at retail Nov 1 - presentations
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: 1 min

LONDON, Sept 11 (Reuters) - London-based investment manager Lansdowne Partners will launch a long-only retail version of its flagship Developed Markets Fund, according to an investment presentation seen by Reuters on Monday, in a further departure from its hedge fund past. The Ucits fund will mirror Lansdowne's flagship Developed Markets Fund and will launch November 1, the presentation said. Lansdowne initially declined to comment when contacted by Reuters. Reporting by Nell Mackenzie; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Lansdowne, Nell Mackenzie, Amanda Cooper Organizations: Lansdowne Partners, Markets, Reuters, Thomson Locations: London

☆ AstraZeneca shares fall 4% to 7-1/2 week low
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange, U.S., April 8, 2019. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCompanies AstraZeneca PLC FollowLONDON, Sept 11 (Reuters) - Shares in London-listed drugmaker AstraZeneca (AZN.L) fell more than 4% on Monday, sliding to their lowest since July 19. An AstraZeneca spokesperson declined to comment on the report. Two of the analysts and the shareholder also mentioned that an article published on Monday in Britain's Times newspaper could have affected the shares, though it appeared to contradict the Mail on Sunday report. The Times' article focused on the retirement of Mene Pangalos, the long-time biopharmaceuticals head of research at AstraZeneca, which was announced in July.

Persons: Brendan McDermid, Pascal Soriot, Mene Pangalos, Pangalos, Pascal, Maggie Fick, Samuel Indyk, Amanda Cooper, Tomasz Janowski Organizations: AstraZeneca, New York Stock Exchange, REUTERS, drugmaker's, Reuters, Britain's Times, Times, Thomson Locations: London

☆ Take Five: Doves versus hawks
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +5 min

Key UK jobs data and a G20 summit, marked by the absence of China's Xi Jinping, are also in focus. The doves urge caution; the most hawkish hawks say a pause is not a done deal, but haven't explicitly called for a hike either. Wednesday's August U.S. inflation data, followed by producer price and retail sales numbers a day later, are the next test. Next up are consumer and factory price data this weekend, with industrial output and retail sales out on the 15th. The unemployment rate has been edging above last year's 48-year low, indicating some softening in the jobs market, while basic earnings are rising at record pace.

Persons: Andrew Kelly, China's Xi, Ira Iosebashvili, Kevin Buckland, Li Gu, Amanda Cooper, Ahmad Ghaddar, haven't, Goldman Sachs, Xi Jinping, He's, BoE Governor Andrew Bailey, BoE, RUSH Brent, Dhara, Philippa Fletcher Organizations: Financial, of, REUTERS, European Central Bank, United States, Key, Yoruk Bahceli, ECB, Reuters, Huawei, SMIC, West, Bank of England, Thomson Locations: of Manhattan , New York City, U.S, Yoruk, Amsterdam, New York, Tokyo, Shanghai, London, China, United States, Washington, Beijing, India, Britain, Saudi Arabia, Russia, Iran, Venezuela, Libya

☆ Beatles Copyright Owner Shares Soar After Buyout Offer
▼ + stars: | 2023-09-08 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +1 min

LONDON (Reuters) - Shares in Round Hill Music Royalty Fund, which owns the copyrights to work of major artists such as the Beatles, soared as much as 67% on Friday after a $496 million buyout offer from Alchemy Copyrights. Shares in Round Hill Music were up 64% at $1.125 by 0753 GMT, having hit a record $1.15 earlier on. In a note, Jefferies said it expects Alchemy's offer is "highly likely to be successful" despite coming at a discount to net asset value. Shareholders in Round Hill Music will get $1.15 in cash per share, a discount of approximately 11.5% to RHM's NAV per share of $1.30 as of September 8. Jefferies said Hipgnosis "trades on a similar discount, but is a larger vehicle, with arguably a more iconic music portfolio."

Persons: Jefferies, Shakira, Neil Young, Hipgnosis, Lucy Raitano, Amanda Cooper Organizations: Royalty Fund, Jefferies Locations: Hill

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