World’s biggest hedge fund bets £8.6bn against European stock market will keep falling European woes Bridgewater Associates, the world’s biggest hedge fund, has bet £$8.56bn ($10.5bn) that Europe’s stock market will continue to decline. The US investment management firm shorted shares of 28 European companies, including bets of more than £407m ($500m) against 28 firms. The Bloomberg data, reported by the Times, says among the European firms shorted are France’s [...]
Retail therapy gives markets a lift as battle to contain inflation genie starts in earnest Global markets this Friday European markets spent most of yesterday edging cautiously higher, with the FTSE100 shrugging off the UK government’s decision to impose a 25 per cent windfall tax on the oil and gas sector, while at the same time unveiling a fiscal stimulus package. The decision to impose the controversial tax appears to have prompted a review [...]
Global markets: US resilience lifts indexes worldwide with no surprises from Fed minutes Markets this Thursday morning European markets had a much more positive bias yesterday, helped by more resilience in the US, which finished the day strongly higher after the release of the latest Fed minutes. “This positive finish took a bit of a knock after the close as another disappointing set of earnings numbers, this time from Nvidia prompted US [...]
Recession concerns vie with inflation risk for investors in unpredictable market week ahead May 23, 2022 It was aother week of declines for US markets on Friday, with the S&P500 closing lower for the seventh week in succession, making a fresh 18 month low, and briefly retracing 50 per cent of the move from its 2020 lows to its record highs late last year. The Nasdaq 100 similarly pulled off new [...]
What a difference a day makes: Markets go into full reversal mode as recession concerns grow May 6, 2022 What a difference a day makes? Having rallied strongly in the aftermath of the Federal Reserve’s decision to hike rates by 50bps on Wednesday evening, and not go harder, US stock markets went into full reversal mode yesterday, dragging European markets down with them. Bond yields also shot back up, with the US 10 year [...]
Poor start of the month for global markets: April weakness rolls into May with China lockdowns not helping May 3, 2022 Asia markets got off to a poor start to the month yesterday, as did markets in Europe after the latest China PMIs showed that economic activity in April fell back by more than expected. Much was made of the slowdown in China manufacturing to 47.4 from 49.5, however non-manufacturing saw an even bigger fall, plunging [...]
Avocado price skyrockets to highest in two decades as Mexican drug gangs feud March 30, 2022 The price of avocados has skyrocketed to its highest for two decades, in part due to feuding drug gangs in Mexico which is one of the main global suppliers. The cost of the crop rose after a United States safety inspector in the country was threatened, leading to an import ban from the state of [...]
UK markets: ‘Penny is dropping’ there will be no immediate ceasefire in Ukraine while focus shifts to Sunak’s ‘double whammy’ March 22, 2022 European markets underwent a subdued start to the week yesterday, with the FTSE100 outperforming on the back of another day of advances for crude oil prices, pushing the index to close at its highest level since 28 February. “The main reason for the move higher in oil prices was reports that the EU was considering [...]
Europe set to open higher as Bank of Japan keeps policy unchanged March 18, 2022 European and US stocks have continued to recover lost ground this week, despite there being little prospect of a ceasefire, or imminent cessation of hostilities, between Russia and Ukraine. “We did falter a little bit during the European trading session after the Kremlin poured cold water on reports of major progress on peace talks, calling [...]
Saturday Sitdown: Credit Suisse’s global investment boss on the dawn of a new world order March 5, 2022 The Russian invasion of Ukraine has accentuated geo-political risks, further fueling volatility on financial markets and unsettling investors. These developments mark a clear shift to a new world order, Michael Strobaek, Credit Suisse’s global chief investment officer, told City A.M. in an exclusive interview. “This new world order will make risk management as well as investing [...]