Volkswagen hints it could jump back into the steaming hot US pickup market

Among an assortment of new cars, crossovers and concepts that will fill up the Volkswagen stand at this week’s New York International Auto Show, plenty of attention will likely be focused on one dubbed the Tarok. In recent years, the German automaker has made a big push into the light truck market, models like the big Atlas crossover helping it reverse years of declining sales. But the Tarok concept vehicle could see Volkswagen make its return into a segment it abandoned decades ago: the compact


Among an assortment of new cars, crossovers and concepts that will fill up the Volkswagen stand at this week’s New York International Auto Show, plenty of attention will likely be focused on one dubbed the Tarok. In recent years, the German automaker has made a big push into the light truck market, models like the big Atlas crossover helping it reverse years of declining sales. But the Tarok concept vehicle could see Volkswagen make its return into a segment it abandoned decades ago: the compact
Volkswagen hints it could jump back into the steaming hot US pickup market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: paul a eisenstein, handout volkswagen group of america
Keywords: news, cnbc, companies, hints, steaming, pickup, market, vehicle, automaker, hot, big, tarok, international, concept, jump, compact, volkswagen


Volkswagen hints it could jump back into the steaming hot US pickup market

Among an assortment of new cars, crossovers and concepts that will fill up the Volkswagen stand at this week’s New York International Auto Show, plenty of attention will likely be focused on one dubbed the Tarok.

In recent years, the German automaker has made a big push into the light truck market, models like the big Atlas crossover helping it reverse years of declining sales. But the Tarok concept vehicle could see Volkswagen make its return into a segment it abandoned decades ago: the compact pickup truck.

“Although there are no plans to produce the vehicle for the U.S. market, the Tarok concept is being shown to gauge market reaction for a truly versatile and compact entry-level pickup,” the automaker said in a statement released ahead of the prototype’s unveiling on Wednesday during a NY International Auto Show media preview.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: paul a eisenstein, handout volkswagen group of america
Keywords: news, cnbc, companies, hints, steaming, pickup, market, vehicle, automaker, hot, big, tarok, international, concept, jump, compact, volkswagen


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Tradeweb shares jump in latest test for crowded IPO market on Wall Street this year

Original price talk of 27.2 million shares at $24 to $26 was twice raised, eventually settling at 40 million shares at $27. Like Tradeweb, Silk Road significantly increased the size of its offering, from 4.7 million shares at $15 to $17 each, to 6 million shares at $19 to $20, and then priced at $20 and opened on the Nasdaq at $33.15. Depending on market conditions, the value of all those companies could be $700 billion to $1 trillion. “It seems Lyft was the only one to price too high, maybe the


Original price talk of 27.2 million shares at $24 to $26 was twice raised, eventually settling at 40 million shares at $27. Like Tradeweb, Silk Road significantly increased the size of its offering, from 4.7 million shares at $15 to $17 each, to 6 million shares at $19 to $20, and then priced at $20 and opened on the Nasdaq at $33.15. Depending on market conditions, the value of all those companies could be $700 billion to $1 trillion. “It seems Lyft was the only one to price too high, maybe the
Tradeweb shares jump in latest test for crowded IPO market on Wall Street this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-04  Authors: bob pisani, source
Keywords: news, cnbc, companies, high, lyft, tradeweb, test, wall, ipo, street, crowded, ipos, companies, market, renaissance, million, shares, latest, public, price, jump


Tradeweb shares jump in latest test for crowded IPO market on Wall Street this year

Tradeweb Markets, an electronic trading platform backed by Blackstone, went public Thursday at $27 a share but opened on the Nasdaq at $34.26, a significant premium.

Original price talk of 27.2 million shares at $24 to $26 was twice raised, eventually settling at 40 million shares at $27.

“The IPO trend is definitely up, companies are looking to price at the high end of the range, or better,” said Santosh Rao, who follows IPOs as head of research for Manhattan Venture.

Two other smaller IPOs — medical device maker Silk Road Medical and diabetes biotech firm NGM Bio, also priced at the high end of their ranges. Like Tradeweb, Silk Road significantly increased the size of its offering, from 4.7 million shares at $15 to $17 each, to 6 million shares at $19 to $20, and then priced at $20 and opened on the Nasdaq at $33.15.

The much-anticipated IPO rush started with jeans legend Levi Strauss, which went public on March 21 at $17 and is still trading well above its initial price, just below $22.

But ride-sharing company Lyft has taken investors on a roller coaster, pricing last week at $72, a significant premium to original talk of $62 to $68. Since then, it has traded as high as $88 and as low as $62 and is now trading close to its $72 original price.

This is not a normal year for IPOs. A tremendous amount is at stake for Wall Street, for the slate of tech unicorns that are seeking to go public — including Pinterest, Uber, Airbnb, WeWork and Palantir — and for the investing public.

About 230 companies are slated to go public this year, according to Renaissance Capital, which advises clients on IPOs and runs the Renaissance Capital IPO ETF, a basket of roughly the last 60 IPOs.

Depending on market conditions, the value of all those companies could be $700 billion to $1 trillion. The amount sold to the public could top $100 billion, which would surpass the record $96 billion raised in 2000.

On the one hand, conditions are perfect: The markets are close to new highs, the Renaissance Capital IPO ETF is up over 30 percent this year, one of the best performing ETFs.

Yet, the sheer number of IPOs that are going to be coming have left investors — those who will be buying this tidal wave — a bit nervous.

The early signs are good — is Lyft an anomaly? “It seems Lyft was the only one to price too high, maybe the original price of $62-$68 would have been better,” Rao said.

The message to the bankers from investors, Rao said, is: “You don’t have a free ride, there is a limit to how far you can go.”

That sentiment was echoed by Kathleen Smith at Renaissance, who is tasked with recommending whether her clients should be buying this wave of IPOs: “We’ve only seen one big unicorn out — Lyft. Let’s see how they price Pinterest, Uber and the other unicorns. They may or not be problematic as well.”

“A lot of money has been thrown at these companies — they have a high opinion of themselves.”


Company: cnbc, Activity: cnbc, Date: 2019-04-04  Authors: bob pisani, source
Keywords: news, cnbc, companies, high, lyft, tradeweb, test, wall, ipo, street, crowded, ipos, companies, market, renaissance, million, shares, latest, public, price, jump


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Stocks in Asia jump following better-than-expected Chinese economic data

Major markets in Asia surged on Monday following data released over the weekend that showed economic activity in China unexpectedly bouncing back in March. Mainland Chinese shares soared on the day, with the Shanghai composite up 2.58 percent to 3,170.36, while the Shenzhen component surged about 3.64 percent to 10,267.70. Both the private Caixin/Markit Manufacturing Purchasing Managers’ Index and China’s official Purchasing Managers’ Index (PMI) expanded unexpectedly in March, surprising analys


Major markets in Asia surged on Monday following data released over the weekend that showed economic activity in China unexpectedly bouncing back in March. Mainland Chinese shares soared on the day, with the Shanghai composite up 2.58 percent to 3,170.36, while the Shenzhen component surged about 3.64 percent to 10,267.70. Both the private Caixin/Markit Manufacturing Purchasing Managers’ Index and China’s official Purchasing Managers’ Index (PMI) expanded unexpectedly in March, surprising analys
Stocks in Asia jump following better-than-expected Chinese economic data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: eustance huang, weizhen tan
Keywords: news, cnbc, companies, stock, saw, shares, japan, bank, unexpectedly, surged, data, chinese, stocks, asia, index, following, released, jump, shenzhen, betterthanexpected, economic


Stocks in Asia jump following better-than-expected Chinese economic data

Major markets in Asia surged on Monday following data released over the weekend that showed economic activity in China unexpectedly bouncing back in March.

Mainland Chinese shares soared on the day, with the Shanghai composite up 2.58 percent to 3,170.36, while the Shenzhen component surged about 3.64 percent to 10,267.70. The Shenzhen composite jumped 3.571 percent to 1,755.67.

Over in Hong Kong, the Hang Seng index was up 1.66 percent in its final hour of trading.

Both the private Caixin/Markit Manufacturing Purchasing Managers’ Index and China’s official Purchasing Managers’ Index (PMI) expanded unexpectedly in March, surprising analysts.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.94 percent, as of 3:18 p.m. HK/SIN

The Nikkei 225 in Japan jumped 1.43 percent to close at 21,509.03 as shares of index heavyweights Fast Retailing, Softbank Group and Fanuc all advanced. The Topix index also gained 1.52 percent to finish at 1,615.81.

Apple supplier Japan Display saw its stock surge 10.14 percent after the embattled company said it aimed to reach a financing agreement this week that would lead to a 60 to 80 billion yen (approx. $540 to $720 million) stock and bond issuance. Previous reports in January had suggested that Japan Display — suffering the impact of disappointing sales for Apple’s iPhone XR — was in advanced talks with an investor group from Taiwan and China to bail out the company.

The closely watched “tankan” survey by the Bank of Japan, released on Monday, had shown worsening business confidence among the country’s big manufacturers in the first quarter.

“The large manufacturing weakness is probably worrying for (the Bank of Japan) … in the sense that the economy isn’t picking up as quickly as perhaps as had been anticipated but the bigger issue … is not the economy,” Mitul Kotecha, senior emerging markets strategist at TD Securities, told CNBC’s “Squawk Box” on Monday.

Instead, Kotecha said inflation continues to be a bugbear for the Japanese central bank, where its target rate of 2 percent remains ever elusive.

Over in South Korea, the Kospi added 1.29 percent to finish at 2,168.28 as chipmaker SK Hynix saw its stock jump 3.23 percent.

Meanwhile, Australia’s ASX 200 rose 0.59 percent to close at 6,217.00, with most sectors seeing gains.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: eustance huang, weizhen tan
Keywords: news, cnbc, companies, stock, saw, shares, japan, bank, unexpectedly, surged, data, chinese, stocks, asia, index, following, released, jump, shenzhen, betterthanexpected, economic


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Wells Fargo CEO Tim Sloan is retiring, and shares jump

Earlier this month, the bank said that Sloan had merited a 5 percent raise to $18.4 million for his work in 2018. The bank’s critics, including Sen. Elizabeth Warren, have said that Sloan was too associated with the bank to be an effective change agent. Wells Fargo shares jumped 2.6 percent in extended trading Thursday following the announcement. Shares of the bank have struggled amid the fallout from the sales practices scandal and scrutiny from political leaders. In October, Sen. Warren sent a


Earlier this month, the bank said that Sloan had merited a 5 percent raise to $18.4 million for his work in 2018. The bank’s critics, including Sen. Elizabeth Warren, have said that Sloan was too associated with the bank to be an effective change agent. Wells Fargo shares jumped 2.6 percent in extended trading Thursday following the announcement. Shares of the bank have struggled amid the fallout from the sales practices scandal and scrutiny from political leaders. In October, Sen. Warren sent a
Wells Fargo CEO Tim Sloan is retiring, and shares jump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: hugh son, kate rooney, erin scott, adam jeffery
Keywords: news, cnbc, companies, departure, warren, board, bank, jump, company, retiring, wells, fargo, tim, sen, ceo, sloan, shares


Wells Fargo CEO Tim Sloan is retiring, and shares jump

Still, the news that Sloan was stepping down came suddenly.

Earlier this month, the bank said that Sloan had merited a 5 percent raise to $18.4 million for his work in 2018. And when there were news reports that the bank was considering a former Goldman Sachs executive as a potential CEO, the bank issued strong statements that Sloan had the full confidence of its board.

Just two weeks ago, a haggard-looking Sloan testified before Congress about his efforts to clean up the various messes he had inherited. Before the four-hour hearings began, CNBC’s Ylan Mui asked Sloan how long he expected to remain CEO, and he replied that he, his board and all of his 260,000 employees thought he was doing a great job.

But in the end, the pressure was just too great.

Sloan’s departure reflects “his belief that a new CEO at this time will best position the company for success,” the bank’s chair, Betsy Duke said in a statement.

Rather than look for a replacement internally, the board said it would find one from outside the company. The bank’s critics, including Sen. Elizabeth Warren, have said that Sloan was too associated with the bank to be an effective change agent.

Wells Fargo shares jumped 2.6 percent in extended trading Thursday following the announcement.

Shares of the bank have struggled amid the fallout from the sales practices scandal and scrutiny from political leaders. Over the last five years, the stock is flat, compared to a near 70 percent jump in J.P. Morgan Chase shares and a 40 percent move higher for the whole S&P financial sector.

Sloan’s departure follows repeated calls from lawmakers for the CEO to step down. In October, Sen. Warren sent a letter to Federal Reserve Chairman Jerome Powell calling on the Fed to maintain its growth cap on Wells Fargo until the bank replaces Sloan.


Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: hugh son, kate rooney, erin scott, adam jeffery
Keywords: news, cnbc, companies, departure, warren, board, bank, jump, company, retiring, wells, fargo, tim, sen, ceo, sloan, shares


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As Lyft goes public, profitability is a long-term goal, not a near-term likelihood

Uber, which is expected to go public next month, still commands greater market share than Lyft. Lyft is far behind Uber when it comes to coverage. In 2018, its geographic expansion focused on coverage in 95 percent of the U.S., and some new locations in Canada, filings ahead of its IPO disclosed. Lyft has been slower to diversify, although it has invested in other modes of transit as well. It bought Motivate in 2018, a bike-sharing company after Uber bought Jump, for example.


Uber, which is expected to go public next month, still commands greater market share than Lyft. Lyft is far behind Uber when it comes to coverage. In 2018, its geographic expansion focused on coverage in 95 percent of the U.S., and some new locations in Canada, filings ahead of its IPO disclosed. Lyft has been slower to diversify, although it has invested in other modes of transit as well. It bought Motivate in 2018, a bike-sharing company after Uber bought Jump, for example.
As Lyft goes public, profitability is a long-term goal, not a near-term likelihood Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: lora kolodny, katie schoolov
Keywords: news, cnbc, companies, uber, goal, offers, coverage, jump, bought, 2018, bikesharing, goes, likelihood, public, nearterm, profitability, lyft, transit, company, streamslyft, longterm


As Lyft goes public, profitability is a long-term goal, not a near-term likelihood

Uber, which is expected to go public next month, still commands greater market share than Lyft.

It offers rides on-demand in 65 countries and has a stake in Didi and Careem, which operate in Asia and the Middle East and North Africa, respectively.

Lyft is far behind Uber when it comes to coverage. In 2018, its geographic expansion focused on coverage in 95 percent of the U.S., and some new locations in Canada, filings ahead of its IPO disclosed.

Uber was also the first ride-hailing company to expand into services like food delivery and bike-sharing (via its acquisition of Jump in April 2018) which provide it with different revenue streams.

Lyft has been slower to diversify, although it has invested in other modes of transit as well. It bought Motivate in 2018, a bike-sharing company after Uber bought Jump, for example. It also offers scooters to riders looking for options beyond the car.


Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: lora kolodny, katie schoolov
Keywords: news, cnbc, companies, uber, goal, offers, coverage, jump, bought, 2018, bikesharing, goes, likelihood, public, nearterm, profitability, lyft, transit, company, streamslyft, longterm


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Europe stocks slightly higher as recession fears fade; Ocado shares jump 4% after e-commerce deal

Most major bourses and sectors were higher with oil stocks leading the gains. In individual stocks news, Ocado shares jumped 4.6 percent after it signed an e-commerce partnership with Australia’s Coles. Part of the U.S. bond yield curve — which plots yields from shortest maturity to highest — inverted on Friday, with the 10-year yield dipping below the yield on the 3-month paper for the first time since mid-2007. A yield curve inversion is generally seen as a sign that a recession is coming. On


Most major bourses and sectors were higher with oil stocks leading the gains. In individual stocks news, Ocado shares jumped 4.6 percent after it signed an e-commerce partnership with Australia’s Coles. Part of the U.S. bond yield curve — which plots yields from shortest maturity to highest — inverted on Friday, with the 10-year yield dipping below the yield on the 3-month paper for the first time since mid-2007. A yield curve inversion is generally seen as a sign that a recession is coming. On
Europe stocks slightly higher as recession fears fade; Ocado shares jump 4% after e-commerce deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: ryan browne
Keywords: news, cnbc, companies, higher, europe, fears, shares, generally, fade, brexit, yields, slightly, yield, taking, 10year, recession, jump, curve, ocado, stocks


Europe stocks slightly higher as recession fears fade; Ocado shares jump 4% after e-commerce deal

The pan-European Euro Stoxx 600 Index was higher by 0.1 percent in early deals. Most major bourses and sectors were higher with oil stocks leading the gains. The price of the commodity rose on Tuesday morning amid ongoing supply cuts.

In individual stocks news, Ocado shares jumped 4.6 percent after it signed an e-commerce partnership with Australia’s Coles. Convatec shares surged 8 percent after reported interest from private equity firm EGT.

More generally, traders have been taking cues from debt markets in recent days for an indication of economic sentiment. Part of the U.S. bond yield curve — which plots yields from shortest maturity to highest — inverted on Friday, with the 10-year yield dipping below the yield on the 3-month paper for the first time since mid-2007. A yield curve inversion is generally seen as a sign that a recession is coming.

On Monday, the yield on the 10-year note fell to its lowest level since December 2017 — but it was a different story on Tuesday, with the 10-year yield rising to about 2.439 percent.

Elsewhere, investors monitored the latest Brexit developments. U.K. lawmakers voted to seize control of the Brexit process on Monday evening, taking it away from Prime Minister Theresa May’s government.


Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: ryan browne
Keywords: news, cnbc, companies, higher, europe, fears, shares, generally, fade, brexit, yields, slightly, yield, taking, 10year, recession, jump, curve, ocado, stocks


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Investor: The US and China will reach a deal, then markets will jump 15%

And, by end June, (the) deal would be signed,” Wong told CNBC’s “Street Signs” on Friday. Wong’s prediction follows the market rally that began at the beginning of this year, roughly coinciding with investors’ increasing expectations that a U.S.-China trade deal could be inked. “Now the investors in China or around the world are expecting a deal to be done. From there, Wong said, markets will be set for another leg up once Trump and Xi reach an accord. China wants all tariffs lifted, and the U.S


And, by end June, (the) deal would be signed,” Wong told CNBC’s “Street Signs” on Friday. Wong’s prediction follows the market rally that began at the beginning of this year, roughly coinciding with investors’ increasing expectations that a U.S.-China trade deal could be inked. “Now the investors in China or around the world are expecting a deal to be done. From there, Wong said, markets will be set for another leg up once Trump and Xi reach an accord. China wants all tariffs lifted, and the U.S
Investor: The US and China will reach a deal, then markets will jump 15% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-22  Authors: tang sue-anne, artyom ivanov, tass, getty images
Keywords: news, cnbc, companies, tariffs, markets, 15, bit, trade, jump, wong, trump, end, china, investor, deal, reach, xi, investors


Investor: The US and China will reach a deal, then markets will jump 15%

Despite all the back and forth between Donald Trump and Xi Jinping’s negotiating teams, the U.S. and China will ultimately come to a trade agreement, according to one investor.

When that happens, markets could soar 15 percent or more for the rest of the year, said Jackson Wong, associate director at Huarong International Securities.

“The rumor is (that by the) end of April, the deal would be 90 percent done. And, by end June, (the) deal would be signed,” Wong told CNBC’s “Street Signs” on Friday.

Wong’s prediction follows the market rally that began at the beginning of this year, roughly coinciding with investors’ increasing expectations that a U.S.-China trade deal could be inked.

“Now the investors in China or around the world are expecting a deal to be done. They have been expecting since the end of last year. So I think the market has been rallying from that point on,” he said.

The ongoing rally, he said, may continue a bit, but there is also a chance it could “consolidate around the current level for about maybe a few weeks.” From there, Wong said, markets will be set for another leg up once Trump and Xi reach an accord.

Such a deal could also have a positive impact on the real economy worldwide, he said.

His analysis comes amid the ongoing trade war between the world’s two largest economies that began about one year ago. That escalating fight has seen rounds of tariffs imposed on items ranging from soybeans to steel, attempts at reconciliation, and Trump declaring the benefits of a trade war on Twitter. Tensions have eased since the presidents of both nations agreed in December to pause any further tariffs while negotiations continued.

The negotiations are focused on both reducing the U.S. trade deficit with China and eliminating some of the systemic impediments to foreign firms succeeding in Asia’s largest economy.

Wong acknowledged that there have been differences of opinion on both sides, but he said he remains positive that both parties will be able to reach a consensus.

“Talks are going not bad,” Wong told CNBC. “The main differences, in my point of view, (are) solvable. China wants all tariffs lifted, and the U.S. wants a say in the new intellectual property theft and transfer policies.”

“If both countries give in a little bit, so maybe, you know, the tariffs will stay a little bit longer, and then China would give (the U.S.) more control over policies, then they can have a final deal,” he said.

Nonetheless, Wong said, the U.S.-China relationship is still rather weak.

“Both countries are standing on very fragile grounds and any sudden move on either side would break the trust on each other,” he said. “Investors are still cautious and nervous about that until they can decide a date that Donald Trump and Xi Jinping can meet. Otherwise, anything can be a wildcard.”


Company: cnbc, Activity: cnbc, Date: 2019-03-22  Authors: tang sue-anne, artyom ivanov, tass, getty images
Keywords: news, cnbc, companies, tariffs, markets, 15, bit, trade, jump, wong, trump, end, china, investor, deal, reach, xi, investors


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European markets edge higher; shares of Deutsche Bank and Commerzbank jump 4% amid merger talks

The pan-European Stoxx 600 was up around 0.2 percent during early morning deals, with most sectors and major bourses in positive territory. Shares of Rio Tinto, Anglo American and ArcelorMittal were up around 2 percent. Looking at individual stocks, Deutsche Bank and Commerzbank surged to the top of the European benchmark Monday morning. It comes after Germany’s largest lenders confirmed they were in merger talks over the weekend. Meanwhile, France’s EDF slumped towards the bottom of the index a


The pan-European Stoxx 600 was up around 0.2 percent during early morning deals, with most sectors and major bourses in positive territory. Shares of Rio Tinto, Anglo American and ArcelorMittal were up around 2 percent. Looking at individual stocks, Deutsche Bank and Commerzbank surged to the top of the European benchmark Monday morning. It comes after Germany’s largest lenders confirmed they were in merger talks over the weekend. Meanwhile, France’s EDF slumped towards the bottom of the index a
European markets edge higher; shares of Deutsche Bank and Commerzbank jump 4% amid merger talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: sam meredith
Keywords: news, cnbc, companies, shares, higher, weekend, territoryeuropes, merger, surged, stocks, jump, commerzbank, markets, stock, morning, deutsche, talks, tinto, stoxx, edge, european


European markets edge higher; shares of Deutsche Bank and Commerzbank jump 4% amid merger talks

The pan-European Stoxx 600 was up around 0.2 percent during early morning deals, with most sectors and major bourses in positive territory.

Europe’s basic resources led the gains shortly after the opening bell, up more than 1.4 percent. Shares of Rio Tinto, Anglo American and ArcelorMittal were up around 2 percent.

Looking at individual stocks, Deutsche Bank and Commerzbank surged to the top of the European benchmark Monday morning. It comes after Germany’s largest lenders confirmed they were in merger talks over the weekend. Shares of both banks jumped more than 3 percent on the news.

Meanwhile, France’s EDF slumped towards the bottom of the index after HSBC cut its rating on the stock to “hold” from “buy.” Shares of the Paris-listed firm dipped over 1 percent.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: sam meredith
Keywords: news, cnbc, companies, shares, higher, weekend, territoryeuropes, merger, surged, stocks, jump, commerzbank, markets, stock, morning, deutsche, talks, tinto, stoxx, edge, european


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Shanghai stocks are set to jump another 10 percent in wake of Chinese stimulus: Credit Suisse

China’s benchmark stock index could rise another 10 percent on the back of “market positive” Chinese policy announcements, John Woods, chief investment officer for Asia Pacific at Credit Suisse, said Wednesday. Woods’ comments to CNBC came in reaction to Chinese Premier Li Keqiang’s speech Tuesday at the National People’s Congress, China’s legislature. In response, Li unveiled stimulus measures,including infrastructure spending and cuts in taxes and fees worth nearly 2 trillion yuan ($289.28 bil


China’s benchmark stock index could rise another 10 percent on the back of “market positive” Chinese policy announcements, John Woods, chief investment officer for Asia Pacific at Credit Suisse, said Wednesday. Woods’ comments to CNBC came in reaction to Chinese Premier Li Keqiang’s speech Tuesday at the National People’s Congress, China’s legislature. In response, Li unveiled stimulus measures,including infrastructure spending and cuts in taxes and fees worth nearly 2 trillion yuan ($289.28 bil
Shanghai stocks are set to jump another 10 percent in wake of Chinese stimulus: Credit Suisse Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: kelly olsen, visual china group, getty images
Keywords: news, cnbc, companies, wake, credit, consumer, woods, stocks, market, infrastructure, shanghai, suisse, jump, positive, growth, cuts, set, sectors, chinese, think, stimulus, li


Shanghai stocks are set to jump another 10 percent in wake of Chinese stimulus: Credit Suisse

China’s benchmark stock index could rise another 10 percent on the back of “market positive” Chinese policy announcements, John Woods, chief investment officer for Asia Pacific at Credit Suisse, said Wednesday.

Woods’ comments to CNBC came in reaction to Chinese Premier Li Keqiang’s speech Tuesday at the National People’s Congress, China’s legislature.

Li highlighted risks threatening the world’s second-largest economy as the government lowered its economic growth target range to between 6 percent and 6.5 percent.

In response, Li unveiled stimulus measures,including infrastructure spending and cuts in taxes and fees worth nearly 2 trillion yuan ($289.28 billion). Those included cuts in the value-added tax rate for manufacturing, transportation and construction.

“We took the decisions as being market positive,” said Woods. “We think that the focus on infrastructure clearly lends itself to those commodities and equities which are in that space and we think will perform well.”

He added that the VAT reductions will have a positive impact on a host of sectors, including consumer staples, consumer discretionary, materials and industrials and energy.

“Those are the sectors which our analysis suggests will benefit with an uptick in earnings growth of between 2 and 3 percent, which is meaningful, which is substantial,” Woods said.

“So more broadly, the Shanghai composite I think’s got another 10 percent upside before I start to take profit,” he said. “But, of course, if the retail investor starts to engage, it could move substantially higher.”

Woods added that he was impressed that the legislature was focused on the private sector: “To me, that’s the main takeaway,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: kelly olsen, visual china group, getty images
Keywords: news, cnbc, companies, wake, credit, consumer, woods, stocks, market, infrastructure, shanghai, suisse, jump, positive, growth, cuts, set, sectors, chinese, think, stimulus, li


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Euro zone banks jump, Italian yields fall on report ECB discussing new cheap bank loans

Euro zone bank shares jumped and Italian government bond yields fell on Wednesday after Bloomberg reported the European Central Bank is holding discussions on the design of new ultra-cheap bank loans. The loans known more formally as Targeted Long-Term Refinancing Operations (TLTROs) are expected to boost troubled euro zone lenders. The euro zone banks index rose to a day’s high, up 0.2 percent. Italian government bond yields also briefly extended falls as investors cheered the report. The euro


Euro zone bank shares jumped and Italian government bond yields fell on Wednesday after Bloomberg reported the European Central Bank is holding discussions on the design of new ultra-cheap bank loans. The loans known more formally as Targeted Long-Term Refinancing Operations (TLTROs) are expected to boost troubled euro zone lenders. The euro zone banks index rose to a day’s high, up 0.2 percent. Italian government bond yields also briefly extended falls as investors cheered the report. The euro
Euro zone banks jump, Italian yields fall on report ECB discussing new cheap bank loans Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06
Keywords: news, cnbc, companies, fell, bond, italian, yield, euro, ultracheap, loansthe, twoweek, jump, loans, fall, ecb, bank, zone, report, yields, discussing


Euro zone banks jump, Italian yields fall on report ECB discussing new cheap bank loans

Euro zone bank shares jumped and Italian government bond yields fell on Wednesday after Bloomberg reported the European Central Bank is holding discussions on the design of new ultra-cheap bank loans.

The ECB meets on Thursday amid speculation that it is getting ready for a fresh round of stimulus via cheap bank loans.

The loans known more formally as Targeted Long-Term Refinancing Operations (TLTROs) are expected to boost troubled euro zone lenders. The euro zone banks index rose to a day’s high, up 0.2 percent.

Italian government bond yields also briefly extended falls as investors cheered the report. Italy’s 10-year government bond yield touched its lowest level in just over a month at 2.661 percent and was last down 4 basis points on the day.

The euro fell to a two-week low at around $1.12855.


Company: cnbc, Activity: cnbc, Date: 2019-03-06
Keywords: news, cnbc, companies, fell, bond, italian, yield, euro, ultracheap, loansthe, twoweek, jump, loans, fall, ecb, bank, zone, report, yields, discussing


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