AndreyPopov/iStock via Getty Images Billionaire investor Bill Ackman took to X, describing the Middle East conflict as one-sided and bullish for equities, and urged investors to “buy quality” as some of the world’s leading companies trade at unusually low prices. "Ignore the MSM. One of the most one-sided wars in history that will end well for the U.S. and the world," Ackman said in his post . "An...
AndreyPopov/iStock via Getty Images Billionaire investor Bill Ackman took to X, describing the Middle East conflict as one-sided and bullish for equities, and urged investors to “buy quality” as some of the world’s leading companies trade at unusually low prices. "Ignore the MSM. One of the most one-sided wars in history that will end well for the U.S. and the world," Ackman said in his post . "And we have the potential for a large peace dividend. One of the best times in a long time to buy quality. Ignore the bears," he added. Ackman, who is returning to the IPO market with a combined offering for his hedge fund manager and a new closed-end fund, further noted that mortgage giants Fannie and Freddie "are stupidly cheap. Asymmetry at its best. They could be a 10X, and it could happen soon.” Famed "Big Short" investor Michael Burry responded directly to Ackman's post, saying, "Cannot emphasize enough how rare this is in this market." Both FNMA and FMCC shares have fallen more than 60% over the past six months, reaching their 52-week lows earlier this month. More on markets, etc. Pershing Square: 2 IPOs In One (I Would Avoid Both) Tracking Bill Ackman's Pershing Square 13F Portfolio - Q4 2025 Update Pershing Square Holdings H2 2025 Letter To Shareholders Michael Burry says Fannie Mae, Freddie Mac IPOs could come in 2027 'at best' Stocks to watch after market hours on Monday: EL, ZION, BRLXF
Paris’ new mayor aims to reach a deal to sell the longtime home stadium of Paris Saint-German to the football club by the summer to end years of uncertainty over the site. Emmanuel Gregoire said he’d expressed his support for a sale in a recent meeting with PSG President Nasser Al-Khelaifi . “We agreed with PSG’s shareholder that we want to conclude discussions by the end of the summer at the late...
Paris’ new mayor aims to reach a deal to sell the longtime home stadium of Paris Saint-German to the football club by the summer to end years of uncertainty over the site. Emmanuel Gregoire said he’d expressed his support for a sale in a recent meeting with PSG President Nasser Al-Khelaifi . “We agreed with PSG’s shareholder that we want to conclude discussions by the end of the summer at the latest,” Gregoire told Franceinfo radio on Monday. PSG has played at the Parc des Princes since 1974 but has been in a row with Paris authorities over the modernization of the stadium, which holds just 48,000 spectators. The club has considered quitting the site, including a potential move to the 80,000-capacity Stade de France national stadium. “We have an emotional attachment to our club, and we want it to remain in Paris, and we want to bring together the conditions for it to stay,” said Gregoire, who took over as mayor from Anne Hidalgo on Sunday. He added that he’ll seek a mandate for negotiations to sell the Parc des Princes during a special meeting of the Paris Council he plans to convene in mid-April.
Inflation expectations of euro-area consumers jumped in March — a warning sign for the European Central Bank as it assesses the danger of a renewed price spike due to the Iran war. An indicator of where people see prices in a year’s time increased to 43.4 from 26.2 in February, the European Commission said Monday in its monthly business and consumer survey. Managers’ selling-price expectations als...
Inflation expectations of euro-area consumers jumped in March — a warning sign for the European Central Bank as it assesses the danger of a renewed price spike due to the Iran war. An indicator of where people see prices in a year’s time increased to 43.4 from 26.2 in February, the European Commission said Monday in its monthly business and consumer survey. Managers’ selling-price expectations also rose “sharply,” particularly in industry. “Selling-price expectations moved further beyond their long-term average in all business sectors,” the commission said. ECB officials are scrutinizing inflation expectations as they asses whether the jolts in energy markets will spill over into consumer prices more broadly. Data on Tuesday are expected to show euro-zone inflation quickened this month by the most since Russia invaded Ukraine in 2022. President Christine Lagarde warned last week that memories of four years ago could mean firms and workers react faster this time. Vice President Luis de Guindos said that if expectations start to de-anchor from the 2% goal, the central bank “ will have to react .” The commission’s index is some way below the 64.3 peak reached in March 2022. A separate ECB survey published Friday showed expectations among consumers were falling as the war began. Prices were seen rising 2.5% over the next 12 months and the next three years — both down from the previous month. Market-based indicators have also reacted. Long-dated inflation swaps rose sharply in the early days of the war, before paring much of the move as traders started to price interest rate hikes. The 5y5y inflation swap , which represents the market’s expectation of five-year average inflation, starting in five years’ time, rose from 2.08% at the end of February to as high as 2.30%. It’s since declined back to about 2.16%. Shorter-dated swaps, which are particularly sensitive to commodity prices, have also climbed. The 1y1y swap is trading around 2.23%, the highest since mid-2024 and a...
HJBC/iStock Editorial via Getty Images TotalEnergies ( TTE ) dominated physical oil trading in the Middle East in March, capitalizing on wartime disruption to make a significant profit, according to a Financial Times report. One person close to the French group said its traders had made more than $1B after purchasing nearly every available May-loading crude cargo produced in the United Arab Emirat...
HJBC/iStock Editorial via Getty Images TotalEnergies ( TTE ) dominated physical oil trading in the Middle East in March, capitalizing on wartime disruption to make a significant profit, according to a Financial Times report. One person close to the French group said its traders had made more than $1B after purchasing nearly every available May-loading crude cargo produced in the United Arab Emirates and Oman during March. That amounts to around 70 cargoes, more than double February levels. “Potentially, this is the biggest position-taking ever made in the history of oil markets,” said Adi Imsirovic, a lecturer in energy systems at the University of Oxford. Before the conflict began on February 28, TotalEnergies ( TTE ) was already a major trader of Platts Dubai crude partials contracts, the main benchmark for Middle Eastern exports to Asia. Iran’s response of restricting traffic through the Strait of Hormuz, which handles about a fifth of the global oil supply, disrupted flows and forced pricing changes. Pricing agency S&P Global Platts, which runs the Dubai contract, excluded crude shipped through the strait from its Dubai benchmark starting March 2. That shift drove demand toward Abu Dhabi’s Murban and Oman grades, both exported via the Gulf of Oman, pushing prices sharply higher as TotalEnergies increased its buying. Reduced supply in benchmark contracts amplified volatility, allowing a single player to dominate. “Suddenly a lot less oil was trading and this makes any contract much more vulnerable to any one player taking a long position,” Imsirovic said. Dubai crude prices surged from about $70 a barrel before the war to a record near $170 last week, outpacing international oil benchmark Brent ( CO1:COM ) crude, which peaked around $120. While overall trading activity rose about 50% month-over-month, only TotalEnergies accumulated enough “partial” contracts to form full cargoes. “This month there’s been an unusually large amount of activity,” said Fabian Ng. “No...
Portugal is confident Europe’s three biggest airline groups will bid for a stake in TAP SA ahead of a deadline this week, brushing aside concerns that the Iran war is fueling oil volatility and uncertainty across the aviation sector. State-owned TAP stands out because it’s “probably the last” mid-sized airline in Europe available on the market, with strong links to South America, Africa, the US an...
Portugal is confident Europe’s three biggest airline groups will bid for a stake in TAP SA ahead of a deadline this week, brushing aside concerns that the Iran war is fueling oil volatility and uncertainty across the aviation sector. State-owned TAP stands out because it’s “probably the last” mid-sized airline in Europe available on the market, with strong links to South America, Africa, the US and Canada that make it especially attractive to rivals, Finance Minister Joaquim Miranda Sarmento said in a Bloomberg Television interview on Monday. British Airways owner IAG SA , Air France-KLM and Deutsche Lufthansa AG have been invited to submit non-binding offers by April 2. “I think those three groups continue to look at TAP from a medium- to long-term perspective of growth,” Miranda Sarmento said. “I don’t think this crisis will have a strong impact on the interest and the conditions for the privatization.” Lisbon plans to sell as much as 49.9% of TAP, including 5% reserved first for employees, while requiring the airline to keep its hub in Lisbon and maintain routes deemed strategic. British Airways parent IAG is likely to drop its pursuit of TAP after concluding that a minority stake doesn’t fit its strategy, people familiar with the matter said earlier this month . IAG may still make a non-binding offer this week but then drop out of the process, the people said.
Israel and US strikes have wiped out senior Iranian leaders and hit key targets across the country. But after a month of fighting, it is arguably Iran that has secured the most significant strategic victory — a tightening grip over traffic through the Strait of Hormuz. So far in March, the first full month of war, barely six vessels per day on average have traversed the narrow waterway connecting ...
Israel and US strikes have wiped out senior Iranian leaders and hit key targets across the country. But after a month of fighting, it is arguably Iran that has secured the most significant strategic victory — a tightening grip over traffic through the Strait of Hormuz. So far in March, the first full month of war, barely six vessels per day on average have traversed the narrow waterway connecting the Persian Gulf to the world, in either direction. That compares with about 135 a day in normal times, according to ship-tracking data compiled by Bloomberg. Over that time, 80% of the small number of oil tankers exiting the strait have been Iranian — or belong to countries with which it is on cordial terms, the figures show. Electronic interference in the Hormuz area disrupts vessel-tracking systems and some ships disable their transponders, impacting the timeliness and precision of tracking data. Even so, there is every sign that Tehran’s ability to control the strait is increasing. Virtually all vessels that make the crossing now are doing so along Iran-approved routes — sailing close to its shores, and not to the Omani side of the strait — and often after talks to seek safe passage. Over the past few days, Malaysia and Thailand have reported bilateral deals to free tankers trapped in the gulf. “Hormuz remains a closed gate for oil tankers,” said Anoop Singh, global head of shipping research at Oil Brokerage Ltd, adding the problem was not likely to see a quick fix without a ceasefire. “Even if there is one, it will not mean a rapid return of flows and shipping through Hormuz. Oil traders, refiners and supply-chain players are being forced to adapt.” Iran is now preparing to pass a law introducing a toll, which would require any ship wanting to pass to share detailed information and hand over fees. This would formalize a system which multiple shipowners have already been reporting, as tankers are asked — through intermediaries — for cargo and crew lists, and, in some ca...
The word “conservative” gets attached to a lot of funds that don’t quite earn it. Vanguard Mega Cap Index Fund ETF Shares (NYSEARCA:MGC) holds roughly 230 of the largest US companies, charges just 5 basis points annually, and has been around since December 2007. It sounds like a conservative anchor. But with 37.4% of assets ... Vanguard’s MGC Has Returned 297% Over 10 Years, But Is It Really Conse...
The word “conservative” gets attached to a lot of funds that don’t quite earn it. Vanguard Mega Cap Index Fund ETF Shares (NYSEARCA:MGC) holds roughly 230 of the largest US companies, charges just 5 basis points annually, and has been around since December 2007. It sounds like a conservative anchor. But with 37.4% of assets ... Vanguard’s MGC Has Returned 297% Over 10 Years, But Is It Really Conservative?
(RTTNews) - BOC Hong Kong Holdings Limited (2388.HK) reported that its fiscal 2025 profit attributable to equity holders was HK$40.1 billion compared to HK$38.2 billion, prior year. Earnings per share was HK$3.7947 compared to HK$3.6162.
(RTTNews) - BOC Hong Kong Holdings Limited (2388.HK) reported that its fiscal 2025 profit attributable to equity holders was HK$40.1 billion compared to HK$38.2 billion, prior year. Earnings per share was HK$3.7947 compared to HK$3.6162.