By Nell Mackenzie LONDON (Reuters) – Trend following hedge funds that outperformed rivals in 2022 will likely underperform this year, according to investors surveyed by BNP Paribas in a report published this week. The global survey of 185 investors in December and January also showed the investor community was undecided on putting money in hedge…
By Alex Lawler LONDON (Reuters) – Oil slipped on Wednesday, giving up an earlier gain, as signs of ample supply and rising U.S. crude inventories countered hopes for higher demand arising from a jump in manufacturing in top crude importer China. U.S. oil inventories rose by 6.2 million barrels in the week ended Feb. 24,…
By Alex Lawler LONDON (Reuters) -Oil extended gains for a second session on Wednesday after a strong jump in manufacturing in China, the world’s top crude importer, boosted the outlook for global fuel demand. China’s manufacturing activity expanded at the fastest pace in more than a decade in February, an official index showed on Wednesday,…
By Linda Pasquini (Reuters) -German sportswear maker Puma on Wednesday gave a forecast for 2023 profit with a midpoint below last year’s number, expecting some impact from currency effects and higher freight and raw material costs. Rising materials and freight costs along with a stronger U.S. dollar, inventory markdowns and higher promotion expenses have pressured…
AMSTERDAM (Reuters) -Just Eat Takeaway.com, Europe’s largest meals delivery company, swung to a small 2022 core profit on Wednesday and said it was targeting 225 million euros of core profit this year. “This guidance includes additional investments… as well as wage costs inflation and takes into account an uncertain macro-economic environment,” the company said, noting…
BARCELONA, Mar 1 (Reuters) -Europe’s largest mobile phone tower operator Cellnex on Wednesday reported a net loss of 297 million euros ($314.49 million) for 2022, lower than in the prior year, while it achieved its forecast as core earnings grew 37% to 2.6 billion euros. Cellnex attributed the loss to the impact of amortisations and…
TAIPEI (Reuters) -Taiwanese Apple Inc supplier Foxlink said on Wednesday it is working hard to resume production following a fire at a plant in southern India that halted operations at the maker of iPhone charging cables, sending its stock price down. The factory is located in the Chittoor district of India’s Andhra Pradesh state and…
KUALA LUMPUR (Reuters) – Malaysia on Wednesday said electric vehicle (EV) maker Tesla Inc will open an office in the Southeast Asian country and establish a network of charging stations for its cars. Tesla’s application to import battery-run EVs into Malaysia has been approved, and the company will also open showrooms and services centres, Malaysia’s…
By Leika Kihara TOKYO (Reuters) – Asia’s factory activity stalled in February with the exception of China, as slowing global demand, stubbornly high inflation and the fallout from past interest rate hikes weighed on the region’s economies, surveys showed on Wednesday. Recovering momentum in China following its exit from stringent COVID-19 policies late last year…
By Summer Zhen HONG KONG (Reuters) – A set of bumper earnings reports from the likes of Baidu Inc and other Chinese internet giants isn’t impressing hedge funds and other investors who have cut exposure to the stocks and seem to be waiting for more good news. For the now, investors remain wary of a…
