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Private equity’s swoop on listed European firms runs into rising execution risks

European listed companies have not been this cheap for more than a decade, yet for private equity firms looking to put their cash piles to work, costlier financing and stronger resistance from businesses are complicating dealmaking. Sharp falls in the value of the euro and sterling coupled with the deepest trading discounts of European stocks versus global peers seen since March 2009, have fuelled a surge in take-private interest from cash-rich buyout firms. Private equity-led bids for listed companies in Europe hit a record $73 billion in the first six ...

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Stocks swing higher as China eases quarantine rules

Asian shares swung into positive territory in afternoon trade on Tuesday, propelled by China’s decision to ease some quarantine requirements for international arrivals, with Hong Kong stocks particularly supported. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.5%, having spent most of the day in the red. The index has fallen 3.8% so far this month. Health authorities said on Tuesday that China will halve to seven days its COVID-19 quarantine period for visitors from overseas, with a further three days spent at home. Following the news, ...

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Stocks gain as risk sentiment improves, oil steadies

Shares rose broadly across Asia on Monday, building on morning gains and a Friday Wall Street rebound as sentiment improved and oil prices steadied, tempering fears of prolonged inflation. Treasury yields remained subdued and the dollar hovered near the lowest in more than a week as investors continued to assess the outlook for U.S. rate hikes, and the potential for a recession. Japan’s Nikkei .N225 rallied 1.51%, while Australia’s benchmark .AXJO jumped 2.03% and looked set for its best day in more than six weeks. Chinese blue chips .CSI300 rose ...

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Bruised US stock investors brace for more pain in second half of 2022

With U.S stocks on track to mark their worst first half of the year in more than 50 years, investors are studying a range of metrics to determine whether the coming months could bring relief, or more of the same. By any stretch, the first half of 2022 has been a challenging one for investors. The S&P 500 is down around 18% year-to-date, on track for its worst first half of any year since 1970, according to S&P Dow Jones Indices, as the Fed tightens monetary policy in its fight ...

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Key events in developed markets next week

Increasing risk of a hard landing as Fed is determined to get inflation under control In the near term, the US activity story is holding up with consumers still willing to use savings accumulated through the pandemic to finance spending on leisure and “experiences”. This means we expect expenditures related to services to outperform spending on goods through the summer. However, with the Federal Reserve raising interest rates more aggressively, moving monetary policy harder and faster into restrictive territory as it tries to get a grip on inflation, there is ...

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Bond outflows in 2022 suggest ‘capitulation’ in debt, not stocks -BofA

Bond funds suffered their largest outflows in the past week since the COVID-19 crisis gripped markets in April 2020, and investors sold $193 billion worth of debt so far this year in a sign of “capitulation,” BoFA said in a note on Friday. As the first half of the year draws to a close, fixed income and equity markets are nursing heavy losses – battered and bruised by inflation soaring in the wake of Russia’s invasion of Ukraine and an aggressive response from major central banks such as the U.S. ...

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Global equity funds gain weekly inflows after big selloff

Global equity funds obtained capital inflows in the week ended June 22, following a heavy selling in the previous week, as a slide in commodity prices slightly assuaged investor fears over rapid inflation. According to Refinitiv Lipper, investors secured global equity funds of $7.51 billion in net purchases. That compares with withdrawal of $30.49 billion in the previous week, which was the biggest net selling since at least July 2020. The MSCI all-country share index has gained more than 2% this week after a three-week-long losing streak that wiped out ...

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Wall Street’s hiring frenzy eases as worries grow over economy, market slump

With mounting uncertainty around the U.S. economic outlook and the resulting slump in financial markets, Wall Street is easing up on hiring after a recruiting frenzy last year. Wall Street companies including banks like Citigroup Inc C.N, JPMorgan Chase & Co JPM.N and Wells Fargo & Co WFC.N were facing cutthroat hiring competition and being forced to pay more to recruit and retain talent in 2021 and early this year. Bonuses jumped to their highest level in 15 years. However, recruitment consultants, executives and recent data show that hiring frenzy ...

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High energy prices could sink U.S. stocks during earnings season

Sky-high oil prices pose yet another obstacle to U.S. corporate earnings, and some on Wall Street are worried this could sink stock prices even deeper into the red. Brent crude has surged nearly 40% since the start of the year and stands at $110.73 per barrel as tight inventories, rising demand and the war in Ukraine keep prices near their highest since 2014. Big retailers Target Corp and Walmart Inc have already warned that oil prices are cutting into their bottom lines. Some investors worry that the impact of oil ...

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Bruised stocks find support as growth fears dent commodities

Global stocks and bonds headed for their first weekly gain in a month on Friday, with growth concerns tempered by hopes that sliding commodity prices can help brake runaway inflation. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 1.4% on Friday, helped by short sellers bailing out of Alibaba 9988.HK – which rose nearly 7% – amid hints that China’s technology crackdown is abating. Japan’s Nikkei .N225 rose 1.2% for a 2% weekly gain, while S&P 500 futures ESc1 extended overnight gains by 0.76%. EuroSTOXX 50 futures STXEc1 ...

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European stocks fall as oil, metal prices extend losses

European shares fell on Thursday, dragged down by energy and mining stocks due to sliding commodity prices on worries about slowing economic growth, with several broker calls also spurring big moves in stocks. The continent-wide STOXX 600 index .STOXX dropped 1.1% by 0724 GMT, with oil & gas stocks .SXEP slipping 1.8% as crude prices fell almost 2%. Miners .SXPP shed 2.2% as copper and other metals extended recent declines on growing fears about a recession.MET/L Asian stocks struggled and Wall Street ended lower overnight, after Federal Reserve Chair Jerome ...

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Stock rally fizzles on revived inflation fears

Asian stocks slipped across the board on Wednesday, failing to extend Wall Street’s rally as persistent worries about interest rates and inflation remained a key focus for investors, while the Japanese yen hit a fresh 24-year low against the dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.39%, still up 1.02% on the more than five-week low it hit on Monday. Tokyo’s Nikkei gave up early gains and was flat. Investors are continuing to assess how worried they need to be about central banks pushing the world economy ...

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European shares rise, dollar slips as market selloff pauses

European shares opened higher on Tuesday, recovering slightly from last week’s 17-month lows as the selloff paused, but major central banks’ rate hike plans and global recession risks kept investors cautious. World stocks have edged higher so far this week, recovering from last week’s sharp selloff which saw global equities tumble to their lowest since November 2020 as expectations for central bank policy tightening to combat high inflation prompted investors to ditch risky assets. At 0750 GMT on Monday, the MSCI world equity index, which tracks shares in 50 countries, ...

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Global markets quake as central banks grow more hawkish

Expectations for how drastically central banks need to tighten monetary policy to fight soaring inflation have taken another leap higher, shaking up global markets and rattling investors. Among the eye-catching moves from monetary authorities in recent days have been a 75-basis-point increase from the Federal Reserve – the largest U.S. rate rise in nearly three decades – the Swiss National Bank’s first hike in 15 years and another 25-basis-point increase by the Bank of England. Investors are bracing for more bold moves. In the United States, Fed funds futures on ...

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Stocks stage small rebound as investors weigh cenbanks’ next move

Stock markets chalked up modest gains on Monday after last week’s hefty losses as investors braced for a host of U.S. Federal Reserve speakers this week, where they could underline a commitment to fight inflation whatever rate pain required. Trading was thinned by a U.S. holiday and investors predicted another choppy session. The euro was little moved after French President Emmanuel Macron lost control of the National Assembly in legislative elections on Sunday, a major setback that could throw the country into political paralysis. However, French government bond yields widened, ...

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