DKosig BlackRock ( BLK ) has become less optimistic on European equities, saying higher energy prices and richer valuations have reduced the region’s appeal versus just a few months ago, the Financial Times reported. Helen Jewell, international chief investment officer for fundamental equities at the asset manager, said Europe’s exposure to rising oil and gas costs could weigh on consumers and eco...
DKosig BlackRock ( BLK ) has become less optimistic on European equities, saying higher energy prices and richer valuations have reduced the region’s appeal versus just a few months ago, the Financial Times reported. Helen Jewell, international chief investment officer for fundamental equities at the asset manager, said Europe’s exposure to rising oil and gas costs could weigh on consumers and economic growth. “It is difficult to be quite as bullish on Europe as we had been,” Jewell said to the FT, adding that the valuation discount to U.S. stocks has narrowed significantly. European markets had attracted strong inflows earlier this year as investors looked beyond expensive U.S. technology shares. But sentiment weakened after the Iran conflict disrupted markets. The Stoxx Europe 600 ( STOXX ) fell sharply from pre-war levels, while the S&P 500 ( SP500 ) recovered faster and returned to record highs. Jewell said hopes that gains would spread beyond banks and defense stocks into sectors such as healthcare, luxury and industrials have faded. Those industries are now facing pressure from higher oil prices, elevated borrowing costs and softer consumer demand. “We are very nervous about the consumer as a whole,” she said, citing pressure from inflation and interest rates. BlackRock recently increased its overweight stance on U.S. equities, reflecting stronger opportunities there and lower vulnerability to global energy disruptions. Jewell said she still sees promise in select European sectors including defense, banks and semiconductors, but warned too much investor concentration in a handful of names could leave the broader market exposed to sharp selloffs. Other strategists have also grown more cautious. Barclays said Europe remains vulnerable to external shocks, though increased government investment could improve the long-term outlook, the FT reported. More on BlackRock, STOXX Europe 600 Index, etc. The Year's Most Positive Signal Rallies Markets, But Iran Risk Favors ...
naphtalina/iStock via Getty Images Wall Street’s major averages posted big weekly gains, surging to new highs for three consecutive trading days, as positive developments in the Middle East, including a temporary ceasefire deal between the involved countries, raised investors’ enthusiasm. Iran’s regime declared on Friday that the Strait of Hormuz is “completely open” for all commercial vessels for...
naphtalina/iStock via Getty Images Wall Street’s major averages posted big weekly gains, surging to new highs for three consecutive trading days, as positive developments in the Middle East, including a temporary ceasefire deal between the involved countries, raised investors’ enthusiasm. Iran’s regime declared on Friday that the Strait of Hormuz is “completely open” for all commercial vessels for the rest of the 10-day ceasefire in Lebanon. U.S. President Donald Trump, however, said the naval blockade on Iranian ports will remain in effect. He also said that Iran agreed to suspend its nuclear program indefinitely. However, Tehran later announced that it would reimpose restrictions on ships passing through the Strait of Hormuz, as the U.S. blockade of the vital maritime trade route continued. Confusion over the critical chokepoint threatened to deepen the energy crisis roiling the global economy and push the two countries toward renewed conflict, even as mediators expressed confidence a new deal was within reach. For the week, the S&P ( SP500 ) gained 4.5%, while the tech-heavy Nasdaq Composite ( COMP:IND ) rose 6.8%, and the blue-chip Dow ( DJI ) added 3.2%. The S&P 500 ( SP500 ) accomplished its first close above 7,100 on Friday, and the Nasdaq Composite ( COMP:IND ) extended its winning streak to 13 consecutive days, which is the longest since 1992. Here’s what caught investor attention this week: Goldman Sachs ( GS ) , kicked off Q1 earnings season, posting top and bottom lines that exceeded Wall Street consensus estimates. Q1 GAAP EPS of $17.55, topping the average analyst estimate of $16.39, rose from $14.01 in Q4 2025 and $14.25 in last year’s Q1. Total revenue of $17.2B, beating the $16.93B consensus, climbed from $13.5B in the prior quarter and $15.1B a year ago. Netflix ( NFLX ) tumbled after the streaming company issued a second-quarter outlook that was weaker than expected and kept its full-year 2026 guidance unchanged. For Q2, the firm expects revenue g...
Giorgia Meloni’s far-right government to ask MPs to back controversial voluntary repatriation scheme Italian lawyers will be paid bonuses if they successfully convince their immigrant clients to return home under a government plan that has been compared to a “wild west-style bounty”. The incentive is in the latest security bill from Giorgia Meloni’s far-right government and goes to the lower house...
Giorgia Meloni’s far-right government to ask MPs to back controversial voluntary repatriation scheme Italian lawyers will be paid bonuses if they successfully convince their immigrant clients to return home under a government plan that has been compared to a “wild west-style bounty”. The incentive is in the latest security bill from Giorgia Meloni’s far-right government and goes to the lower house of parliament for final approval this week. It was passed by the upper house after fiery debate. Continue reading...
A major exhibition featuring more than 250 sets of Han dynasty relics – most of which have never been displayed in Hong Kong – is offering a rare look into one of the most influential periods of Chinese history. The showcase, titled “The Majestic Han: A Golden Age of Vigour and Cultural Integration”, is running at the Hong Kong Heritage Discovery Centre in Tsim Sha Tsui until September 20. Admissi...
A major exhibition featuring more than 250 sets of Han dynasty relics – most of which have never been displayed in Hong Kong – is offering a rare look into one of the most influential periods of Chinese history. The showcase, titled “The Majestic Han: A Golden Age of Vigour and Cultural Integration”, is running at the Hong Kong Heritage Discovery Centre in Tsim Sha Tsui until September 20. Admission is free. The event is co-organised by the Development Bureau and the National Cultural Heritage...
Alphabet's Google is in talks with Marvell Technology to develop two new chips aimed at running AI models more efficiently, The Information reported on Sunday citing two people with knowledge of the discussions. One of the chips is a memory processing unit designed to work with Google's tensor processing unit (TPU) and the other chip is a new TPU built specifically for running AI models, the...
Alphabet's Google is in talks with Marvell Technology to develop two new chips aimed at running AI models more efficiently, The Information reported on Sunday citing two people with knowledge of the discussions. One of the chips is a memory processing unit designed to work with Google's tensor processing unit (TPU) and the other chip is a new TPU built specifically for running AI models, the report said. Google has been pushing to make its TPUs a viable alternative to Nvidia's dominant GPUs. TPU sales have become a key driver of growth in Google's cloud revenue as it aims to show investors that its AI investments are generating returns.
Jack Clarke fired home an 87th-minute penalty to save a point for Ipswich in a pulsating 2-2 draw with promotion rivals Middlesbrough. Jarred Gillett awarded the spot-kick when he adjudged Adilson Malanda had tugged the substitute George Hirst in the box. Middlesbrough, who are on a seven-match winless run, went ahead through David Strelec only for Kasey McAteer to equalise five minutes later. The...
Jack Clarke fired home an 87th-minute penalty to save a point for Ipswich in a pulsating 2-2 draw with promotion rivals Middlesbrough. Jarred Gillett awarded the spot-kick when he adjudged Adilson Malanda had tugged the substitute George Hirst in the box. Middlesbrough, who are on a seven-match winless run, went ahead through David Strelec only for Kasey McAteer to equalise five minutes later. The visitors took the lead through Tommy Conway but Clarke’s spot-kick saw the points shared. Continue reading...
Fury As Nigerian Migrant Caught Cooking Cat In Public Park Next To Children's Playground Authored by Steve Watson via Modernity.news, A Nigerian immigrant was arrested in Sarzana, Italy after local residents spotted him roasting a freshly killed cat on a makeshift barbecue in a Park—right beside a children’s playground. The man, described as shoeless, had set up a grate over an open fire in the Cr...
Fury As Nigerian Migrant Caught Cooking Cat In Public Park Next To Children's Playground Authored by Steve Watson via Modernity.news, A Nigerian immigrant was arrested in Sarzana, Italy after local residents spotted him roasting a freshly killed cat on a makeshift barbecue in a Park—right beside a children’s playground. The man, described as shoeless, had set up a grate over an open fire in the Crociata public space dedicated to a local partisan commander. Passersby called the carabinieri (Italian police), who arrived to find him in the act. He was charged with animal cruelty offences. The shocking scene, captured in photos that quickly spread online, has triggered nationwide anger in Italy. Deputy Prime Minister Matteo Salvini branded it “a heinous act that must not go unpunished.” 🇮🇹 Sarzana. Policja zatrzymała Nigeryjczyka, który zabił i upiekł na grillu kota parku publicznym na oczach przechodniów. Dostał zarzuty znęcania się nad zwierzętami. „Okrutny czyn, który nie powinien mieć miejsca w cywilizowanym społeczeństwie”, komentuje radny ds bezpieczeństwa pic.twitter.com/mLdg08SrsI — Adam Gwiazda (@delestoile) April 17, 2026 Sarzana’s Administrative Officer and Security Councillor Stefano Torri reacted with fury, urging “What happened this afternoon in Crociata Park is an atrocious act that cannot and should not have a place in a civilised society,” he stated. Torri went further: “As an Administration, we are ready to reiterate strongly: we will not allow anyone to come into our territory to import sick and barbaric customs and customs. Those living in our country have a duty to respect our laws and our sensitivity towards animals. We won’t tolerate our land being turned into a theatre of the uncivilised by those who have no respect for the rules of civil life.” He promised improved safety measures and to “return it to the citizens,” adding that the administration is working on a tender to bring “positive aggregation, order, light and legality” back to the park. ...
Overview As the debt market continues to face headwinds, the PIMCO Corporate & Income Opportunity Fund ( PTY ) has continued to decline in value. At the time of my prior coverage, I issued a buy rating due to the attractive valuation and attractive outlook at the time. Since then, the fund has continued to decline in value, and the interest rate environment has shifted. Additionally, the fund has ...
Overview As the debt market continues to face headwinds, the PIMCO Corporate & Income Opportunity Fund ( PTY ) has continued to decline in value. At the time of my prior coverage, I issued a buy rating due to the attractive valuation and attractive outlook at the time. Since then, the fund has continued to decline in value, and the interest rate environment has shifted. Additionally, the fund has released an updated semi-annual report that provides transparency into the earnings. Despite the headwinds of the sector, I believe that PTY remains a great opportunity for investors that want to secure a stream of supplemental dividend income. When I previously covered PTY, the fund traded at a premium to NAV of 10.75%. Following the slight pullback in its share price, PTY now trades at a smaller premium to NAV of 4.83%. Referring to the red line on the graph below, we can see that PTY continues to trade at one of the most attractive price-to-NAV levels over the last ten-year period. Even on a smaller time frame, PTY has traded at an average premium to NAV of 21.7%. Therefore, this serves as an excellent time to accumulate shares if you are a long-term income investor looking for a good opportunity in the market. CEF Data PTY now offers investors a starting dividend yield of 11.7% while issuing those payouts on a monthly basis. Despite the attractive valuation of the fund, I do believe that additional downside risks remain. Unfortunately, growth for the fund may be limited as long as interest rates remain elevated. The reality is that a debt-focused fund like PTY is almost entirely reliant on a healthy debt market, and since interest rates are still near the highest end of its ten-year range, the risk of defaults continues to be relevant. The fund's thinner operating margins will also limit the rate of NAV growth in the near term, which can threaten dividend sustainability. Fund Strategy According to the latest fund overview , PTY has total managed assets of $3.3B that are...
Eoneren/iStock via Getty Images In January 2025, MSC Income Fund ( MSIF ) tapped the IPO market and became a publicly traded, externally managed business development company, or BDC. The expectations by many investors were quite high given fundamental overlaps with one of the best-performing BDCs - Main Street Capital ( MAIN ) - which, among other things, included direct management from MAIN's sid...
Eoneren/iStock via Getty Images In January 2025, MSC Income Fund ( MSIF ) tapped the IPO market and became a publicly traded, externally managed business development company, or BDC. The expectations by many investors were quite high given fundamental overlaps with one of the best-performing BDCs - Main Street Capital ( MAIN ) - which, among other things, included direct management from MAIN's side. Optically, the biggest difference between MAIN and MSIF was the type of management (external vs. internal) and, obviously, P/NAV multiples - i.e., MAIN trading way above NAV and MSIF slightly below NAV. In other words, it was at least worth considering MSIF as a diversifier to MAIN's position. However, the performance so far has been suboptimal, to say the least: YCharts Despite a significant P/NAV difference (much lower multiple), MSIF has underperformed MAIN and provided no material extra protection relative to that of the broad BDC index ( BIZD ). Pricewise, MSIF is down by ~20% of its listing date's share price. As a result of these dynamics, MSIF trades now at a P/NAV of 0.78x (discount of 22%), which is only slightly above the sector average of 0.76x. In the meantime, MAIN remains the most richly priced BDC out there with a P/NAV of ~1.60x. The difference is huge and has clearly widened since the IPO: YCharts So, the question is whether MSIF is finally a buy. Thesis There are two strategic aspects of MSIF that I would like to highlight here. They are conflicting in the sense that one of them supports a bull case and the other one argues against it. I will now unpack both of them and then share my investment stance in the summary section. The first aspect is about the underlying fundamentals, which is very important. Almost everywhere we look, we will find robust fundamentals and above-average financials (statistics). These are my top 5 elements, which I really appreciate when it comes to MSIF's offering and its ability to deliver durable income. First, MSIF has the...
You may be 65 years old when you first claim Medicare, but the complexity of the system can make you feel like a kid. Plainly put, Medicare is confusing. However, healthcare in retirement is vital, and you don't want to make any big moves without thinking them through. One of the first things you'll learn is the number of medical-related costs Medicare won't cover, and the steps you'll need to tak...
You may be 65 years old when you first claim Medicare, but the complexity of the system can make you feel like a kid. Plainly put, Medicare is confusing. However, healthcare in retirement is vital, and you don't want to make any big moves without thinking them through. One of the first things you'll learn is the number of medical-related costs Medicare won't cover, and the steps you'll need to take to prepare for them. Image source: Getty Images. Continue reading
Hong Kong homebuyers’ strong demand for new flats extended a streak of brisk sales for developers with one project selling out in a single day, underscoring the city’s broader recovery in housing prices. All 88 units at the Pavilia Farm III project by New World Development and MTR Corporation in Sha Tin were sold on Saturday, prompting the developers to put 75 more flats on sale later that night. ...
Hong Kong homebuyers’ strong demand for new flats extended a streak of brisk sales for developers with one project selling out in a single day, underscoring the city’s broader recovery in housing prices. All 88 units at the Pavilia Farm III project by New World Development and MTR Corporation in Sha Tin were sold on Saturday, prompting the developers to put 75 more flats on sale later that night. Elsewhere in Kai Tak, 133 units of KT Marina II were snapped up over the weekend, according to...