(Reuters) – Morgan Stanley expects the oil market to tighten during the third and fourth quarter of 2023, supported by a recovery in demand prompted by China reopening its borders among other factors. “We see the oil market coming into balance in 2Q and turning tight in 3Q and 4Q, supporting higher prices later this…
By Archishma Iyer (Reuters) – Bullish bets on the Thai baht and Chinese yuan hit five-year highs as China’s sharp pivot from its strict COVID-19 curbs boosted investors’ appetite for strengthening long positions in regional currencies, a Reuters poll showed on Thursday. Long positions firmed on nearly all Asian emerging currencies, many of which had…
By Dietrich Knauth and Tom Hals NEW YORK/WILMINGTON, Del. (Reuters) -Crypto exchange FTX has recovered more than $5 billion in liquid assets but the extent of customer losses in the collapse of the company founded by Sam Bankman-Fried is still unknown, an attorney for the company told a U.S. bankruptcy court on Wednesday. The company,…
(Reuters) – Activist hedge fund Bluebell Capital Partners shows no sign of halting its run of challenging the policies and executives of some of the world’s biggest companies. The group has taken on the likes of GSK Plc, Glencore Plc, Vivendi SE and Danone SA while owning minor stakes, as well as attempting to oust…
By Davide Barbuscia NEW YORK (Reuters) – BlackRock’s iShares exchange traded funds (ETFs) gained more net flows than Vanguard’s ETFs last year, according to estimates from industry tracker Morningstar, putting the world’s biggest asset manager in the lead for the first time since 2019. BlackRock and Vanguard are the world’s two biggest asset managers as…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Options traders are bracing for volatility in U.S. bank shares days ahead of an earnings season many believe will bring lower profits and reflect worries over an expected recession. Current market positioning signals a gloomy outlook: The one-month moving average of open puts on the Financial Select…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Some hedge funds that bet on macroeconomic trends boasted eye-popping double and even triple digit gains for 2022, investors said, while other prominent firms that were long on technology stocks got clobbered with deep losses in volatile markets. Rokos Capital, run by Chris Rokos and one of a handful…
By Svea Herbst-Bayliss NEW YORK (Reuters) -An investor with a large stake in Venator Materials Plc has asked for board seats, criticizing the chemical company’s poor financial performance and a 96% drop in its share price, in a letter it sent to the board on Tuesday. J&T MS 1 SICAV owns 14.3% of Venator and…
By Marc Jones LONDON (Reuters) – Morgan Stanley has bumped up its China growth, stock market and yuan forecasts again, becoming the latest Wall Street heavyweight to do so as the country rapidly dismantles two years of tight COVID-19 restrictions. The bank’s moves included raising its Chinese economic growth forecast 0.3 percentage points to 5.7%,…
By Saeed Azhar, Niket Nishant and Lananh Nguyen NEW YORK (Reuters) – U.S. banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic slowdown that is battering investment banking. Four American banking giants — JPMorgan Chase & Co, Bank of America Corp, Citigroup…