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Buy American (stocks), says Europe’s largest asset manager

WorldNews Wednesday, 29 July 2020 ()
Buy American (stocks), says Europe’s largest asset managerSometimes it takes an outsider to fully appreciate something. Europe’s largest asset manager, Amundi Asset Management, has produced research showing why U.S. stocks have outperformed the world, and why that outperformance may continue. Admittedly written by two from its Boston office — Craig Sterling, its head of U.S. equity research, and Marco Pirondini, head of U.S. equities — Amundi made a distinction between the U.S. stock market, which is a play on many of the world’s most profitable companies, and the U.S. economy. The S&P 500 SPX, -0.64% has outperformed the rest of the developed world, measured by the MSCI Europe, Australasia and Far East index 990300, +0.87%, in 19 out of the last...
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Equity indices dither after weak opening, TCS flat after Q1 results [Video]

Equity indices dither after weak opening, TCS flat after Q1 results

Equity benchmark indices suffered slight cuts during early hours on Friday following a decline in global peers amid surging coronavirus cases. At 10:15 am, the BSE SandP Sensex was down by 36 points or 0.1 per cent at 36,702 while the Nifty 50 edged lower by 8 points or 0.07 per cent at 10,806. Nifty pharma was up by 1.5 per cent and auto by 0.8 per cent. All sectoral indices at the National Stock Exchange were in the red. Among stocks, private lenders IndusInd Bank and Axis Bank slipped by 1.7 and 1.1 per cent respectively while home loan lender HDFC was down by 1.4 per cent. Bharti Infratel dipped by 2.6 per cent, Adani Ports by 2.2 per cent, Tech Mahindra by 1.8 per cent, JSW Steel by 1.4 per cent and Hindalco by 1.2 per cent. Tata Consultancy Services was down by 0.5 per cent to Rs 2,193.05 per share after reporting nearly 14 per cent fall in its net profit at Rs 7,008 crore in the first quarter of the current financial year (Q1 FY21). However, Sun Pharma gained by 2.9 per cent to Rs 496 per share, Dr Reddy's by 1.2 per cent and Cipla by 1.1 per cent. Hero MotoCorp and Tata Motors traded with a positive bias while index heavyweight Reliance Industries was up by 1.1 per cent at Rs 1,844.70 per share. Meanwhile, Asian shares fell as record-breaking new coronavirus cases in several US states raised concerns that new lockdowns could derail an economic recovery. MSCI's broadest index of Asia Pacific shares outside Japan fell by 0.76 per cent while Japanese stocks declined by 0.4 per cent. Shares in China fell by 0.72 per cent, the first decline in more than a week, as investors booked profits on a surge in equities to a five-year high.

Credit: ANI    Duration: 01:06Published
Equity indices flat as India-China tensions simmer, banking stocks slip [Video]

Equity indices flat as India-China tensions simmer, banking stocks slip

Equity benchmark indices were flat during early hours on Thursday as border tensions between India and China continued to simmer while COVID-19 infections surged.At 10:15 am, the BSE SandP Sensex was up by 68 points or 0.2 per cent at 33,576 while the Nifty 50 edged higher by 18 points or 0.19 per cent at 9,900. Sectoral indices at the National Stock Exchange were mixed amid lacklustre trading. Among stocks, private banks slipped with ICICI Bankdown by 1.1 per cent to Rs 338.10 per share. Kotak Mahindra Bank dipped by 0.9 per cent, Axis Bank by 0.8 per cent and IndusInd Bank by 0.6 per cent. The others which lost were ONGC, Adani Ports, NTPC, Larsen and Toubro and Bajaj Auto. However, those which gained marginally were UPL, Bajaj Finserv, ITC, Vedanta, Britannia and Dr Reddy's. Meanwhile, Asian stocks fell as spiking coronavirus cases in several US states and China pushed back hopes of a quick global economic recovery from the pandemic. MSCI's broadest index of Asia Pacific shares outside Japan lost by 1 per cent. Japan's Nikkei was down by 1.3 p

Credit: ANI    Duration: 01:14Published
Equity indices flat in early trading amid rising geopolitical tensions [Video]

Equity indices flat in early trading amid rising geopolitical tensions

Equity benchmark indices were subdued during early hours on Wednesday amid escalating border tensions between India and China and surge in COVID-19 cases. At 10:15 am, the BSE SandP Sensex was up by 83 points or 0.25 per cent at 33,689 while the Nifty 50 edged higher by 22 points or 0.22 per cent at 9,936. Sectoral indices at the National Stock Exchange were mixed with Nifty PSU bank down by 0.9 per cent but realty up by 1 per cent. Among stocks, the gainers included Maruti Suzuki, Tech Mahindra, Wipro, Britannia, Tata Steel and Axis Bank. However, Bharti Infratel, Power Grid Corporation, Mahindra and Mahindra, Hero MotoCorp and State Bank of India were in the negative zone. Meanwhile, Asian share markets took a breather as a resurgence of coronavirus cases challenged market confidence in a rapid economic recovery. Japan's Nikkei eased by 0.7 per cent after jumping almost 5 per cent a day earlier for its biggest daily gain in three months. MSCI's broadest index of Asia Pacific shares outside Japan went flat, having climbed 2.8 per cent the previous day with most markets across the region little changed.

Credit: ANI    Duration: 01:23Published
Stimulus splurge restarts stocks rally [Video]

Stimulus splurge restarts stocks rally

Shares jumped on Tuesday as sentiment was lifted by the launch of the U.S. Federal Reserve's corporate bond buying program and concerns about a second wave of global coronavirus infections eased. Ciara Lee reports

Credit: Reuters Studio    Duration: 01:48Published

S&P 500 Index S&P 500 Index Stock market index

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S&P ends lower after flirting with record [Video]

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The S&P 500 ended slightly lower Thursday after briefly trading above its record closing high level for a second day, and the Dow also fell in the wake of a disappointing forecast from Cisco Systems. Fred Katayama reports.

Credit: Reuters Studio    Duration: 01:30Published

S&P 500 trades above record

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Legendary Analyst Says S&P 500 Won't Go Up Much More [Video]

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Legendary analyst Byron Wien said the bear market and recession are over. Wien told Bloomberg news the S&P 500 may climb slightly higher but it will not be making any "major strides upward" this year. Byron is the vice chairman of Blackstone Private Wealth Solutions said the S&P 500 is "fully priced." He also applauded US technology companies for their creativity. According to Business Insider Wien said the US should be a manufacturer as well as an innovator to compete globally.

Credit: Wochit News    Duration: 00:30Published

Stocks rise on Wall Street; S&P 500 within 1% of record

U.S. stock indexes closed mostly higher Monday, nudging the S&P 500 within striking distance of its all-time high set in February. The S&P 500 rose 0.3% after..
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