By Suzanne McGee(Reuters) – Investors are leaving exchange-traded funds tied to specific themes, such as artificial intelligence and video gaming, as they flock to funds linked to broad stock-market benchmarks that are hitting record highs.The run for the exits, however, may slow if the broader market stumbles.While flows in equity ETFs overall continue to climb, thematic ETFs, which invest in companies tied to everything from solar energy to robotics and millennial consumers, are on pace for their third-consecutive year of net outflows, according to financial data and analysis company Morningstar.The category, which has total assets of $108 billion, has lost…
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In times of economic instability, gold has long been a favored asset for investors looking to hedge against market turmoil. Recently, gold prices have surged amid a climate of rising geopolitical tensions, inflationary pressures, and sluggish global growth. During the third quarter of 2024, gold prices soared above $2,600 per ounce, setting a new record. This uptick reflects heightened demand as investors seek safer places to store wealth, reacting to fears about recession risks and volatility in equity markets. As central banks around the world struggle to tame inflation without stifling growth, many are drawn to gold’s historical role as…
HSBC’s (LSE: HSBA) share price has dropped 7% from its 8 May 12-month traded high of £7.24. This leaves it looking even more of a bargain to me than it did before. On the key price-to-earnings ratio (P/E) stock valuation measure, HSBC currently trades at 7.2. This is bottom of its peer group, which has an average P/E of 8.4. So it is significantly underpriced on this measure. To translate this into hard cash terms, I ran a comprehensive discounted cash flow analysis using other analysts’ figures and my own. This shows HSBC shares are 59% undervalued right now at their present price…
By Felix Light TBILISI (Reuters) – Georgia’s saviour. Russia’s stooge. Philanthropist. Oligarch. Bidzina Ivanishvili has been called all these things, and more. The billionaire, Georgia’s richest person and the founder of its ruling party, is seldom seen in public and, of late, almost exclusively behind bulletproof glass. Yet his presence looms large over this small European country caught been Russia and the West and an election that could shape its destiny. Ivanishvili can gaze down on downtown Tbilisi from a massive steel-and-glass clifftop mansion that rears about 60 metres over the capital, complete with helipad. He indulges exotic passions like…
By Suzanne McGee(Reuters) – Investors are leaving exchange-traded funds tied to specific themes, such as artificial intelligence and video gaming, as they flock to funds linked to broad stock-market benchmarks that are hitting record highs.The run for the exits, however, may slow if the broader market stumbles.While flows in equity ETFs overall continue to climb, thematic ETFs, which invest in companies tied to everything from solar energy to robotics and millennial consumers, are on pace for their third-consecutive year of net outflows, according to financial data and analysis company Morningstar.The category, which has total assets of $108 billion, has lost…
Traders work on the floor of the New York Stock Exchange on June 01, 2023 in New York City.Spencer Platt/GettyUS stocks were mostly lower on Monday, pulling back from last week’s record highs.Investors are turning their attention to third-quarter earnings season, with 21% of S&P 500 companies set to report this week.Bank of America said that company executives are striking an optimistic tone on earnings calls.US stocks traded mostly lower on Monday, retreating from last week’s record highs.While the Nasdaq 100 rose slightly, the Dow Jones Industrial Average declined by nearly 350 points.The decline on Monday comes as third-quarter earnings…
The U.S. housing market is experiencing a severe inventory squeeze, driven by low supply and consistent demand. Despite an increase in housing prices and rising mortgage rates, buyers continue to flock to available properties, hoping to lock in a home before conditions worsen. As of August 2024, existing home sales had dropped significantly compared to previous years, mainly due to the limited number of homes available for sale. Yet, this scarcity, paired with pent-up demand, has sustained property values in most markets. In this challenging environment, real estate platforms like Zillow Group, Inc. (Z) have adapted quickly, seeking ways to…
MUMBAI, MAHARASHTRA, INDIA – Hyundai cars seen parked outside the Hyundai showroom in Mumbai.Sopa Images | Lightrocket | Getty ImagesHyundai Motor India shares fell more than 5% on their trading debut Tuesday after a $3.3 billion initial public offering, the country’s largest-ever by amount raised.Shares were trading down at 1,860 rupees from their initial public offering price of 1,960 rupees, according to BSE data.The automaker had offered 142.19 million shares at a price band of 1,865 Indian rupees ($22.18) to 1,960 rupees. The IPO fetched 278.56 billion rupees, or $3.3 billion.The company’s IPO, which opened on Oct. 15 and closed on…
(Reuters) -Hyundai Motor India’s shares fell 2% in their market debut on Tuesday, after a tepid response from retail investors to the country’s largest ever initial public offering. The stock listed at 1,934 rupees on the National Stock Exchange, compared to its issue price of 1,960 rupees, and was last trading down 2% at 1,920 rupees at 0431 GMT. Hyundai is India’s No. 2 carmaker with a 15% market share. Its record $3.3 billion IPO was oversubscribed more than two-fold last week, led largely by institutional investors, but pricing concerns deterred retail participation. Tuesday’s listing in Mumbai is Hyundai Motor…
SAN FRANCISCO – From CEO Joe Lacob to general manager Mike Dunleavy to coach Steve Kerr and his staff, most key figures within the Warriors hierarchy love what they think Jonathan Kuminga can bring to the franchise. They’d like to move beyond thinking Kuminga can be an NBA All-Star to reach a consensus in the belief that he will evolve enough to reach that status. There was, according to two NBA sources, enough uncertainty to prevent Golden State from handing Kuminga the kind of massive contract extension that would have signified he is next in line to hold the keys…