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Bloomberg
39 minutes ago
- Bloomberg
Lots of Structural Growth Opportunities Beyond US: Niven (Video)
00:00 How are you interpreting this 15%? Is this a positive or a negative for Europe? Well, thank you very much for having me. And what a day to be on after all of the news of the weekend and all the news coming through overnight. I think for us, this is a headline that ultimately papers over structural issues. So we're seeing a lot of the trade deficits, a lot of the kind of fiscal issues within the US not be touched by this headline. So this is a headline we think that really goes some way towards bringing that certainty thus far to the markets. And you see those reactions coming through this morning. But what we're not seeing is that long term predictability of what this ultimately means. We need to see the US think about it as productivity. That's where you've seen that slow growth and we need to think about how it re-powers that reshoring it needs to see. So we're seeing these these kind of relief rallies, but ultimately we would say there's more that needs to be done, more that needs to be tackled within the US unless we continue to see the weakening dollar that we seen here today. Well, bring that right by here to Europe and how that translates to some of these European names. We've we're now six months, seven months into the year. And one of the big questions has been whether this momentum or at least fund flow from the US into Europe has legs or is this a short term tactical rotation? Which is it? So we see a lot of structural growth opportunities beyond the US. So we're seeing a lot of these interesting trends in energy, in healthcare. So that's partly why it's lovely to see those healthcare bounce today. But we're seeing, you know, non-U.S. structural sustainable growth opportunities emerging. And I think that's what we're going to start seeing. Beyond the headlines, this is all about more global, more industrial, more kind of em-link growth opportunities. And I would love to see the kind of the the EU begin to invest behind those opportunities going into the next decade and beyond. Stephanie, given your portfolio manager and now we've had this new news, if it seems like that pharma, autos, these kind of names are being included in these in these carve outs, there's no longer maybe the threat of sectoral tariffs. Have you changed your portfolio in any way over the last five sessions? No. I mean, we invest with long term structural trends and we see healthcare as one of those. And it's been great to see that kind of pulse returning within the life sciences space. We're seeing some of the tools names come out and say, actually, we're beginning to be past the bottom. So these are areas that were quite hard to hit coming out of COVID and actually seeing that vital signs kind of elevating, improving. It's been fantastic to kind of see come through into the market. So, no, we're not adjusting. We're investing for the long term.
Bloomberg
an hour ago
- Bloomberg
Thailand, Cambodia Start Ceasefire Talks Amid Trump Trade Threat
Thai and Cambodian leaders began talks aimed at ending their deadliest border conflict in more than a decade, as the US and regional powers push for a ceasefire and diplomatic resolution. Thailand's acting Prime Minister Phumtham Wechayachai and Cambodian Prime Minister Hun Manet are holding discussions Monday in Putrajaya, Malaysia's administrative capital. Malaysian Prime Minister Anwar Ibrahim is facilitating the dialogue in his role as the chair of the Association of Southeast Asian Nations, with Washington and Beijing dispatching envoys.
Yahoo
an hour ago
- Yahoo
Italy's Meloni says it's a 'positive' trade deal was reached but needs to see details
ROME (Reuters) -Italy's Prime Minister Giorgia Meloni said on Sunday it is "positive" a trade deal has been reached between the European Union and the United States, adding, however, that she needs to see the details. Washington struck a framework trade deal with the EU imposing a 15% import tariff on most EU goods. "I consider it positive that there is an agreement, but if I don't see the details I am not able to judge it in the best way," Meloni told journalists on the sidelines of a meeting in Addis Ababa. Italy is one of the biggest European exporters to the U.S., with a trade surplus of more than 40 billion euros. The Italian government, led by a nationalist coalition, had urged its European partners to avoid a direct clash between the two sides of the Atlantic. In a statement, Meloni said that the agreement "ensures stability", adding that the 15% "is sustainable, especially if this percentage is not added to previous duties, as was originally planned." "We are ready to activate support measures at the national level, but we ask that they also be activated at the European level for sectors that will be particularly affected by US tariff measures," she added. The statement was also signed by the leaders of the other two coalition parties: Antonio Tajani of Forza Italia and Matteo Salvini of the League. Solve the daily Crossword
