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(Bloomberg) -- European stocks declined on Monday and U.S. equity futures drifted lower as investors awaited a fresh batch of corporate earnings and some key central bank meetings this week. Crude oil rose following supply disruptions in Libya and Iraq.The Stoxx Europe 600 Index fell, dragged down by retailers and banks. Contracts on the main American equity benchmarks were modestly lower, though U.S. markets are closed Monday for the Martin Luther King Jr. holiday. Equities advanced in most Asian markets, though several saw thin volumes thanks to the American holiday. European bonds were mixed and range-bound, while the pound slipped ahead of U.K. jobs data due tomorrow.Brent crude jumped back above $65 a barrel as unrest hit key production regions. Iraq temporarily stopped output at an oil field on Sunday, while Libyan production almost ground to a halt after armed forces shut down a pipeline.Jitters in the oil market appear to...
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(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Vestas Wind Systems A/S, the world’s largest maker of wind turbines, has pledged to eliminate all waste in the production of its machines by 2040 as part of its drive to hit carbon neutrality by the start of the next decade.With wind power estimated to make up more than a quarter of the world’s power mix by 2050, installation of turbines will proliferate but with that comes the problem of increased amounts of industrial waste.Developers will come under more pressure to clean up a manufacturing process that will see waste from turbine blades alone reaching 43 million tons by 2050, according to a Cambridge University study, or roughly the U.K.’s annual industrial and commercial waste.Vestas is drawing up a strategy to clean up the design, production, servicing and end-of-life treatment of its turbines....
(Bloomberg) -- A top-performing Morgan Stanley fund is betting on cash-rich consumption-focused stocks in Asia, especially China, to manage risks in market cycles this year.Sign up for Next China, a weekly email on where the nation stands now and where it's going next.The Wall Street firm’s Asia Opportunity Fund, which focuses on equities in the region excluding Japan, returned 44% in the past year, beating 99% of its peers, according to data compiled by Bloomberg. The portfolio focuses on undervalued companies with low debt or net cash on their balance sheets, many of which are found in consumer sectors, said Kristian Heugh, who has been co-managing the fund since its inception in 2016.“We seek to protect investors’ capital by focusing on high quality companies with sustainable competitive advantages and purchasing them at a discount to our estimate of intrinsic value,” Heugh said. “We remain vigilant in selling names approaching our estimate...
(Bloomberg) -- Crude oil rose on Monday following supply disruptions in Libya and Iraq, while European stocks edged lower and U.S. equity futures drifted as investors awaited this week’s fresh batch of corporate earnings. Gold climbed.The Stoxx Europe 600 Index nudged down, dragged lower by media and utilities companies. Contracts on the main American equity benchmarks were little changed, with U.S. markets closed Monday for the Martin Luther King Jr. holiday. Equities advanced in most Asian markets, though several saw thin volumes thanks to the American holiday. European bonds were mixed and range-bound, while the pound slipped ahead of U.K. jobs data due tomorrow.Brent crude jumped back above $65 a barrel as unrest hit key production regions. Iraq temporarily stopped output at an oil field on Sunday, while Libyan production almost ground to a halt after armed forces shut down a pipeline.Despite jitters in the oil market, traders are kicking off...
(Bloomberg) -- Crude oil prices rose following supply disruptions in Libya and Iraq, while American and European stock futures were little changed following gains to record highs.Equities advanced in most Asian markets, though several saw thin volumes with the U.S. out on holiday Monday. The MSCI Asia Pacific Index hit its highest since 2018, though remains a laggard relative to Europe and the U.S., with the region nursing wounds from the trade war and China’s slowdown. The offshore yuan extended recent gains, rising to the strongest since July.Indicators of economic health from China and the U.S. last week provided some encouragement for investors looking for signs the global outlook is improving. Attention this week turns back to corporate earnings season.“We are entering 2020 on a more stable footing with economies globally stabilizing and looking like they’re turning up, and the phase one trade deal” Anne Anderson, head of fixed income for...
India's imports of Middle Eastern oil plunged to a four-year low in 2019, tanker data obtained from sources shows, as the energy-hungry nation diversifies its supplies to cut costs and help shield itself from geopolitical tensions. India, the world's third-biggest oil consumer, imports about 84% of its oil needs and traditionally relies on the Middle East for the majority of its supplies. India shipped in 2.68 million barrels per day (bpd) oil from the Middle East in 2019, down about 10% from 2018, and around 1.8 million bpd from elsewhere, the data reviewed by Reuters showed....
