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Price rises in the euro area held steady at 2.4% in April, while the economy returned to growth in the first quarter, according to flash figures published Tuesday. Headline inflation of 2.4% was in line with the forecast of economists polled by Reuters. It is the seventh straight month the headline rate has been below 3%, despite a slight rebound in the rate in December due to energy prices. Core inflation, excluding energy, food, alcohol and tobacco, dipped to 2.7% from 2.9% in March. However, Martinez noted the slightly lower-than-expected fall in core inflation and volatility in some areas of services that had increased the inflation rates in France and Italy.
Persons: Price, Gerardo Martinez, Martinez, Jane Foley, Foley Organizations: Reuters, European Central Bank, Gross, ECB, CNBC, BNP, Rabobank Locations: Europe, France, Italy
Hong Kong stocks are back from the dead. Here’s why
  + stars: | 2024-04-30 | by ( Laura He | ) edition.cnn.com   time to read: +6 min
Hong Kong CNN —Hong Kong’s benchmark Hang Seng Index surged more than 7% in April as the best-performing major index in the world. The valuation of Hong Kong stocks has also become more “compelling” relative to the rest of the Asian region after the pullback last year, said Zhikai Chen, head of Asian equities at BNP Paribas Asset Management. He added that there is a shift in investors’ sentiments as Chinese economic data turned more positive. Innes said global investors are currently “underweight” in Chinese markets, including Hong Kong, because of geopolitical tensions and concerns surrounding potential fallout from the upcoming US elections. Stock exchange data showed that southbound investors (meaning investment from mainland China into Hong Kong) have bought nearly $20 billion of Hong Kong-listed stocks in March and the first three weeks of April on a net basis.
Persons: , Kelly Chung, Zhikai Chen, Stephen Innes, David Chao, Nomura, Xiaomei Chen, Angelina Lai, Innes, Kong, BNP Paribus Organizations: Hong Kong CNN, Hong, Value Partners, BNP, Management, P Global, PMI, Kong's, Reuters, US, People’s Bank of, HK, Locations: China, Hong Kong, United States, Beijing, India, James’s, People’s Bank of China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBNP Paribas CFO says first-quarter results confirms growth trajectoryLars Machenil, CFO of BNP Paribas, discusses the firm's first-quarter earnings and the broader banking sector.
Persons: Lars Machenil Organizations: BNP
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed rate cuts have been derailed in the short term: BNP Paribas Wealth ManagementPrashant Bhayani, chief investment officer for Asia at BNP Paribas Wealth Management, discusses the outlook for monetary policy and earnings season.
Persons: Management Prashant Bhayani Organizations: BNP, Management, Wealth Management Locations: Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBNP Paribas forecasting further disinflation in housing market, says Chief U.S. Economist RiccadonnaCarl Riccadonna, chief U.S. economist at BNP Paribas, and CNBC's Steve Liesman join 'The Exchange' to share their reactions to the 2Y Treasury auction, outlooks for housing and inflation, and more.
Persons: Riccadonna Carl Riccadonna, Steve Liesman Organizations: BNP, BNP Paribas, Treasury
Is the Fed's 2% inflation target still a realistic goal?
  + stars: | 2024-04-12 | 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 EmailIs the Fed's 2% inflation target still a realistic goal? Daniel Morris, Chief Market Strategist at BNP Paribas Asset Management, and Dana Peterson, Chief Economist at The Conference Board, debate the outlook for inflation and how to navigate a non-2% world.
Persons: Daniel Morris, Dana Peterson Organizations: Asset Management, Conference Board
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Mastercard , Visa : The companies reached a settlement with merchants over swipe fees. "I think that Mastercard and Visa are both terrific stocks and this only makes them better." Reddit : Shares of the social media firm continue to rally since their initial public offering last week. McCormick : Shares surged nearly 10% after the spice maker delivered better-than-expected quarterly results and offered an upbeat guidance.
Persons: Jim Cramer's, They've, Jim Cramer, McCormick, Cramer, Brendan Foley Organizations: CNBC, Club, Mastercard, Visa, Hershey, BNP, United Parcel Service Locations: McCormick
This Wednesday at London Business School, CNBC's Steve Sedgwick will ask two market experts where's best to invest right now. Fowler leads UBS' European equity strategy and global derivative strategy teams. Gooch-Peters is a member of Sanlam's global high-quality equity team and leads the global equity team's investment strategy. Fowler leads UBS' European equity strategy and global derivative strategy teams. Gooch-Peters is a member of Sanlam's global high-quality equity team and leads the global equity team's investment strategy.
Persons: Steve Sedgwick, Gerry Fowler, Hannah Gooch, Peters, Fowler, Gooch, Hannah Organizations: CNBC, London Business School, UBS, Chief European, Sanlam Investments, BNP Paribas, Citi, Sanlam Locations: Abrdn, London, . New York, Singapore
The fund manager hasn't departed from the offense-defense strategy he outlined last summer, and he's still confused as to why more of his counterparts haven't followed suit. Related storiesThe top fund manager added: "So that leads people to this conclusion that maybe I should just index and put it all in the S&P 500. Diversifying in these ways reduces risk while improving returns, the fund manager said. There are several considerations when looking at corporate bonds, Miller said, including the issuing company's debt load, cash flow, and industry. After explaining his process for selecting corporate bonds, Miller mentioned a few companies with attractive debt.
Persons: David Miller didn't, Miller, Morningstar —, hasn't, he's, haven't, you'd, that's, , Miller doesn't Organizations: Systematic Alpha Fund, Business, Retail, Catalyst Funds, BNP, Constellation Brands, Modelo, McDonald's, HCA Healthcare Locations: Europe, Japan, Corona
CNN —In tennis love means zero, but Zendaya and Tom Holland taking in a tennis match together was love yet far from zero. The pair recently attended the BNP Paribas Open in Indian Wells, California, and it was pretty cute. They were spotted courtside over the weekend, enjoying the match and singing along to Whitney Houston’s hit single, “I Wanna Dance With Somebody.”Zendaya plays a tennis coach and former player involved in a love triangle in the forthcoming film “Challengers.”Poland’s Iga Świątek beat Maria Sakkari of Greece 6-4, 6-0 to win her second BNP Paribas Open title in three years and later posed for a photo with Zendaya that Świątek shared on social media. The “Spider-Man” stars have been linked for years, but have been pretty private about their relationship. Zendaya recently shared in an interview that Holland has “beautiful charisma.”
Persons: Tom Holland, Whitney Houston’s, ” Zendaya, , Świątek, Maria Sakkari, Zendaya, Holland Organizations: CNN, BNP Locations: Indian Wells , California, Greece
AdvertisementWhere to watch Indian Wells women's finals in the USAIf you're hoping to tune into the finals of the Indian Wells women's singles, then you'll need access to the Tennis Channel. For cord-cutters, this means trying out a live TV package like Sling TV or Hulu + Live TV. Sling TV Subscription Sling is one of the most affordable live TV streaming services around. Hulu + Live TV Hulu + Live TV includes over 90 channels, along with Hulu's on-demand library and access to Disney Plus and ESPN+. Shop at ExpressVPNAdvertisementHow to watch Indian Wells women's finals with a VPNSign up for a VPN if you don't already have one.
Persons: Iga Swiatek, Maria Sakkari, Naomi Osaka, Greece's Maria Sakkari, Coco Gauff, Poland's, Hulu's, ExpressVPN Organizations: Business, Indian Wells, Wells, BNP, Swiatek, today's, Tennis, Hulu, ESPN, Disney Plus, Tennis Channel, Sky Sports Locations: Indian, USA
Matthew Stockman/Getty ImagesBut while Alcaraz won the match, it was beekeeper Lance Davis who truly saved the day. “This time of year is swarming season, so they go everywhere,” Davis told ATPTour.com. US actor Ben Stiller was one of many impressed with his work, writing on X: “Bee Invasion Guy is very cool. Fearless.”After his somewhat unusual win, Alcaraz will now face Jannik Sinner in the semifinals of the tournament. If nothing else, he’ll hope he can just get on with his tennis without being mobbed by another invasion of bees.
Persons: Indian Wells –, Carlos Alcaraz, Alexander Zverev, Alcaraz, swatting, Mohamed Lahyani, “ I’ve, I’ve, ” Beekeeper Lance Davis, Matthew Stockman, Lance Davis, Davis, ” Davis, ATPTour.com, ” Alcaraz, Ben Stiller, Guy, , “ I’m Organizations: CNN, BNP, Twitter, Getty Locations: Indian, California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCHIPS, IRA & Infrastructure Acts driving interest in domestic investment: BNP Paribas' FillionHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Brian Sullivan, Organizations: Infrastructure, BNP, CNBC
We'll show you all the details on where to watch the Indian Wells live streams, including how to tune into your live TV subscriptions from anywhere in the world via VPN. Where to watch Indian Wells Open in the USAIn the US, Indian Wells Open matches stream on the Tennis Channel, which is available as a part of several live TV packages like Sling TV, Fubo, and Hulu + Live TV. Shop at FuboHulu + Live TV Hulu + Live TV includes over 90 channels, along with Hulu's on-demand library and access to Disney Plus and ESPN+. Shop at HuluWhere to watch Indian Wells Open from anywhereIf you're outside the US right now and unable to access the Indian Wells live stream, you can use a VPN (virtual private network) to access your existing live TV subscriptions. Sign up for one of the live TV streaming packages with a US form of payment.
Persons: Serbia's Novak Djokovic, Djokovic, hasn't, Carlos Alcaraz, Naomi Osaka, Emma Raducanu, Coco Gauff, Serena Williams, Andy Murray, Andrey Rublev, Venus Williams, Nao Hibino, Hulu's, that's, ExpressVPN Organizations: Business, Indian Wells Masters, BNP, Indian Wells, Tennis Channel, Indian, Hulu, Fubo, Disney Plus, ESPN, Sky Sports Locations: California, Wells, USA, Orange, Hulu
CNN —Spanish tennis player Rafael Nadal has withdrawn from the BNP Paribas Open in Indian Wells, California, the night before he was scheduled to face Canadian Milos Raonic in the first round, he announced on social media Wednesday. In an announcement on X, the 22-time Grand Slam winner said he’s dropping out of the tennis tournament because he doesn’t feel prepared enough to compete at “the highest level.” The three-time Indian Wells champion holds a 59-11 record at Indian Wells, according to ATP Tour. “It is with great sadness that I have to withdraw from this amazing tournament at Indian Wells,” Nadal wrote. The BNP Paribas Open runs through March 17 at the Indian Wells Tennis Garden. Nadal said in May 2023 that 2024 would likely be his last year on tour, though he didn’t rule out continuing past that date.
Persons: Rafael Nadal, Milos Raonic, he’s, ” Nadal, That’s, Sumit Nagal, Nadal, Carlos Alcaraz, Alcaraz, , Tommy Haas, , ” Haas Organizations: CNN, BNP, Indian Wells, ATP Tour, Raonic, Indian Wells Tennis Garden, Brisbane International, Netflix Locations: Spanish, Indian Wells , California, Indian, Indian Wells, Las Vegas
Gold prices rallied to hit new records on Thursday, on track for their seventh consecutive daily rise, led by weak U.S. economic data and Federal Reserve Chair Jerome Powell's indications of potential rate cuts in the coming months if inflation eases. Spot gold rose 0.5% to $2,159.79 per ounce, as of 0432 GMT, after hitting an all-time high of $2,161.09 earlier in the session. Gold got a boost on Wednesday after Powell indicated that interest rate cuts were likely in the coming months "if the economy evolves broadly as expected," along with further evidence of falling inflation. Hence, in an uncertain financial environment, gold will remain safe investment for banks," said Jigar Pandit, head of commodity and currency business at BNP Paribas' Sharekhan. Spot silver rose 0.4% to $24.25, while platinum fell 0.1% to $906.82 per ounce, and palladium slipped 0.8% to $1,033.44.
Persons: Jerome, Marcus Garvey, Gold, Powell, Powell's, Macquarie's Garvey, Jigar Pandit Organizations: Federal, Macquarie, Treasury, BNP Locations: U.S, China, Turkey, Russia, Poland
JPMorgan uncovered several top European stocks it says offer substantial upside potential — as well as some "unattractive" names — right now. The bank is underweight on the euro zone, given that its "Growth-Policy trade-off" is "likely to deteriorate further." Nevertheless, JPMorgan sees pockets of opportunity in the European market. Here are five stocks from its list of "top European picks" which stand out for having substantial upside potential, according to FactSet's consensus price targets: 'Unattractive stocks' JPMorgan also revealed its list of "unattractive stocks" from a sector it's underweight on — banking. Stocks named as " unattractive" include Lloyds Banking Group , BNP Paribas , Svenska Handelsbanken AB and Bank of Ireland Group .
Persons: Mislav Matejka, Banks, Stocks, — CNBC's Michael Bloom Organizations: JPMorgan, Lloyds Banking Group, BNP, Svenska Handelsbanken, Bank of Ireland Group
While most of the market's attention has been on interest rates, the Federal Reserve is quietly getting ready to loosen policy in another respect as it prepares to slow down the shedding of assets on its balance sheet. Tapering down the roll-off could see the Fed reducing the caps in half, according to a projection from BNP Paribas. The QT program has resulted in a nearly $1.3 trillion reduction in total holdings, with the total balance sheet now standing at about $7.7 trillion. With confidence growing that inflation is easing, policymakers are looking to loosen up policy, albeit at a measured pace. So at this meeting, we did have some discussion of the balance sheet, and we're planning to begin in-depth discussions of balance sheet issues at our next meeting in March," Chair Jerome Powell said in his January post-meeting news conference .
Persons: Krishna Guha, Goldman Sachs, We're, Jerome Powell, we're Organizations: Federal Reserve, Evercore ISI, Fed, MBS, New York Fed, BNP Paribas, BNP
Bangladesh Welcomes Biden Letter on Support for Economic Goals
  + stars: | 2024-02-05 | by ( Feb. | At A.M. | ) www.usnews.com   time to read: +2 min
DHAKA (Reuters) - President Joe Biden said the U.S. is willing to work with Bangladesh to help the South Asian nation achieve its economic goals, nearly a month after Prime Minister Sheikh Hasina was sworn in following an election boycotted by the opposition. Biden made his comments in a letter to Hasina, Foreign Minister Hasan Mahmud told reporters on Monday, adding through this letter ties between the two countries will advance further. Hasina and her party won a fourth straight term in the Jan. 7 election, which the main opposition dismissed as a sham. "We welcome the letter written by President Biden. "The United States is committed to supporting Bangladesh's ambitious economic goals and partnering with Bangladesh on our shared vision for a free and open Indo-Pacific," Biden said in his letter, provided to reporters.
Persons: Joe Biden, Sheikh Hasina, Biden, Hasina, Hasan Mahmud, Mahmud, Ruma Paul, Sharon Singleton Organizations: U.S . State Department, Reuters, Bangladesh Nationalist Party, BNP Locations: DHAKA, U.S, Bangladesh, United States, Dhaka didn't, Russia, Ukraine
LONDON — European markets are set for a higher open on Friday to close out a busy week of corporate earnings and major central bank decisions. On Wednesday, the U.S. Federal Reserve also left policy unchanged and Chair Jerome Powell poured cold water on speculation about a potential first interest rate cut in March. Preliminary inflation data for the euro zone on Thursday revealed the annual increase in the headline consumer price index eased slightly in January, while core figures declined less than expected and services inflation held steady. Friday is set to be quieter on the earnings front, with Spain's CaixaBank among the biggest names reporting. No major corporate earnings or economic data releases are due from Europe.
Persons: Jerome Powell, Spain's Organizations: Bank of England, U.S . Federal Reserve, Deutsche Bank, BNP, Adidas, Volvo Locations: Europe
Even including the sale of Heathrow, this year is the slowest for airport transactions in the past decade, totalling $5.9 billion globally to date, according to Dealogic data. They have hired Mediobanca (MDBI.MI) and Credit Agricole (CAGR.PA) to find a buyer for a sale of their 49% stake in the company, the people said. Heathrow's sale valued the airport at 14.3 times EBITDA, according to JP Morgan analysis published on Wednesday. UK's Esken (ESKN.L), owner of regional Southend Airport, said in June it had started a process for the sale of the airport. On Thursday, Hungary's state-owned Corvinus and Vinci Airports notified the European Commission of a proposed joint takeover of Budapest's airport, according to a document posted on the EU website.
Persons: Andras Kranicz, GIP, Australia's Macquarie, Spain's, Ferrovial, Agata Lyznik, Mediobanca, Gianni, Origoni, Nico Torrisi, Morgan, UK's, France's Vinci, Vinci, Corvinus, Emma, Victoria Farr, Andres Gonzalez, Elisa Anzolin, Joanna Plucinska, Mathieu Rosemain, Anousha Sakoui, Elaine Hardcastle Organizations: LONDON, Heathrow, BNP, Global Infrastructure Partners, AGS Airports, Southampton, Australia's, International, ACI, Airports, Macquarie, Credit Agricole Assurance, 2i, Credit, SAC, Gatwick, Southend Airport, Global Infrastructure Fund, Vinci Airports, European Commission, EU, Thomson Locations: Edinburgh, Italy, FRANKFURT, Spanish, Europe, Aberdeen, Glasgow, Heathrow, France, Hungary's, Budapest's
The French bank also did not comment on plans to end its research partnership with Morningstar after more than four years. The expansion of the equities business by BNP comes as its Wall Street peers have reduced investment banking headcount this year amid sluggish trading and dealmaking activities. In Asia, BNP competes with large Western banks including Morgan Stanley (MS.N), Goldman Sachs (GS.N), JPMorgan (JPM.N) and UBS (UBSG.S), as well as a host of local investment banks in the cash equities business. One of the sources said BNP could boost its Asia equities headcount by as much as 20 over the next year. The bulk of BNP's in-house equities research team, mainly in Hong Kong and Singapore, departed as a result of that deal.
Persons: Dado Ruvic, Morningstar, Jean, Laurent Bonnafe, Morgan Stanley, Goldman Sachs, Jason Yates, BNP's, William Bratton, Exane, Bratton, " Yates, Selena Li, Sumeet Chatterjee, Jamie Freed Organizations: BNP, Bank, REUTERS, Morningstar, Deutsche, JPMorgan, UBS, Thomson Locations: HONG KONG, Asia, Asia Pacific, Europe, U.S, Russia, Ukraine, Pacific, BNP's, Hong Kong, Singapore, China, South Korea, India
LONDON, Nov 29 (Reuters) - Four major banks, including Standard Chartered Plc (STAN.L) and HSBC Plc (HSBA.L), have quit a United Nations-backed initiative to scrutinise climate targets set by corporations, according to people familiar with the matter. Many lenders say they should finance fossil fuels as long as economies depend on them. The spokesperson added that Standard Chartered was seeking alternative third-party validation of its climate targets and that it was setting science-based targets through the NZBA. It will still require them to cease the financing of fossil fuel projects that would weigh on their longer-term emissions targets. Credit Agricole (CAGR.PA), ING (INGA.AS), BBVA (BBVA.MC) and Swedbank (SWEDa.ST) told Reuters they remained committed to SBTi validating their emissions targets.
Persons: SBTi, SBTi's, Pietro Rocco, haven't, it's, Rocco, Tommy Reggiori Wilkes, Simon Jessop, Josie Kao Organizations: Standard Chartered, HSBC Plc, United, Societe Generale SA, ABN Amro Bank, Zero Banking Alliance, HSBC, Societe Generale, ABN Amro, Reuters, Credit, ING, BBVA, NatWest, Commerzbank, BNP, Allianz, Alliance, Zero, Carbon Trust, Thomson Locations: United Nations, Nations, Paris, U.S, decarbonising, London
Supporters of Bangladesh Nationalist Party (BNP) join in a rally at Naya Paltan area in Dhaka, Bangladesh, October 28, 2023. REUTERS/Mohammad Ponir Hossain/File Photo Acquire Licensing RightsDHAKA, Nov 29 (Reuters) - Bangladesh’s main opposition party said on Wednesday it would continue its anti-government protests despite what a rights group called an "autocratic crackdown" ahead of a general election in January. At least four people, including a policeman, have been killed and hundreds injured in violent protests across the country in the past few weeks, police said. In order to end this misrule and lawlessness, the ongoing movement must be accelerated and the victory of the people must be ensured,” senior BNP official Ruhul Kabir Rizvi said. “Diplomatic partners should make clear that the government’s autocratic crackdown will jeopardise future economic cooperation,” the rights group said in a statement quoting Bleckner.
Persons: Mohammad Ponir Hossain, Sheikh Hasina, ” Abdul Moyeen Khan, , Ruhul Kabir Rizvi, Hasina, , League’s, Julia Bleckner, Khaleda Zia, Ruma Paul, Raju Gopalakrishnan Organizations: Bangladesh Nationalist Party, BNP, REUTERS, Rights DHAKA, Reuters, Police, Rights Watch, Human Rights Watch, , Thomson Locations: Naya Paltan, Dhaka, Bangladesh, Asia
"These measures could boost (earnings) growth and help asset prices recover in 2024," Liu said. As per the forecasts, the consumer staples and software sectors are set to post earnings growth of 40% and 30%, respectively. The consumer discretionary and industrial sectors are each expected to see roughly 20% growth, while the real estate sector may grow 18%. Such stable or growth-centric government policies would also boost investor confidence in the e-commerce and consumer sectors, Lau added. Maurer, however, points to how cheap Chinese stocks are and that the risks might already be priced in.
Persons: Minyue Liu, Liu, John Lau, Lau, Alec Jin, Jin, Caroline Yu Maurer, Maurer, Patturaja Murugaboopathy, Vidya Ranganathan Organizations: BNP, Management, Asia Pacific, SEI, Reuters, Reuters Graphics, Stock Connect, HSBC Asset Management, Thomson Locations: Asia, China, Shanghai, U.S
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