Latest news with #Britzman
Yahoo
4 days ago
- Business
- Yahoo
Oil prices rise despite oversupply concerns
Oil prices rose on Thursday morning, as investors looked past concerns about oversupply and economic growth. Brent crude futures (BZ=F) climbed 0.5% to $65.15 a barrel, while West Texas Intermediate futures (CL=F) declined 0.3% at $63.04 a barrel. Earlier on Thursday morning, Hargreaves Lansdown senior equity analyst Matt Britzman said oil prices had "weighed down by growing concerns of a global oversupply". Read more: FTSE 100 LIVE: Stocks rise as traders await ECB interest rate decision "Saudi Arabia is pushing for a major increase in oil production and has slashed prices for Asian buyers, signalling weaker demand," he said. The July price cut by Saudi Arabia, which is the world's biggest oil exporter, comes after the decision from the Organization of the Petroleum Exporting Countries and their allies — known as OPEC+ — over the week to increase output next month. In addition, Britzman said "ongoing trade tensions are adding to market uncertainty". There are concerns that a slowdown in the global economy due to US president Donald Trump's tariff agenda would weigh on demand for fuel. The pound edged higher against the dollar (GBPUSD=X) on Thursday morning, rising 0.1% to trade at $1.3564 at the time of writing. The US dollar index ( which measures the greenback against a basket of six currencies, hovered around the flatline at 98.85. This followed weak US economic data on Wednesday, including a sharp slowdown in private sector hiring growth, as well as a contraction in services sector. On the back of the weak data from ADP's private sector jobs report, US president Donald Trump renewed his call for Federal Reserve chair Jerome Powell to lower interest rates. In a post on Truth Social on Wednesday, referencing the ADP report, Trump said that "Powell must now LOWER THE RATE. He is unbelievable!!!" Jim Reid, market strategist at Deutsche Bank ( said: "Both the ADP and the ISM services prints led investors to price in more rate cuts this year, with clear moves in response to the two prints." Stocks: Create your watchlist and portfolio "In fact by the close, futures were pricing in 58bps (basis points) of rate cuts by the Fed's December meeting, up +8.0bps on the day, and the highest number in over three weeks. And there's growing confidence that we'll see the first rate cut by September, with futures now almost fully pricing (97%) one by that meeting." Attention now turns to the European Central Bank's (ECB) latest decision later on Thursday, with another rate cut expected to be announced. Hargreaves Lansdown's Britzman said: "Investors are all but certain the European Central Bank will cut rates later today down to 2%. Hopes for easing grew after Eurozone inflation dipped to 1.9% in May, just below the ECB's target. "More cuts are on the cards too, with interest rates expected to fall to 1.5% by the end of the year — low enough to start actively supporting the economy." Ahead of the decision, the pound was slightly higher against the euro (GBPEUR=X), up 0.1% at €1.1882 at the time of writing. Gold prices were muted on Thursday morning, as investors weighed weak economic data and the latest developments on trade. Following talks between the US and European Union (EU) in Paris on Wednesday, EU trade commissioner Maroš Šefčovič tweeted: "We're advancing in the right direction at pace — and staying in close contact to maintain the momentum." Meanwhile, US trade representative Jamieson Greer said in a statement that he was "pleased that negotiations are advancing quickly." Read more: Bank of England governor expects interest rates and pay to decrease this year At the same time, trade tensions remain high between the US and China, with Trump having said in a post on Truth Social in the early hours of Wednesday that it was "extremely hard" to reach a deal with China's president Xi Jinping. The different signals on trade negotiations kept gold prices steady. Gold futures (GC=F) traded at $3,307.80 per ounce at the time of writing, while the spot gold price hovered around $3,374 per ounce. In broader market movements, the UK's FTSE 100 (^FTSE) was also little changed on Thursday morning, trading at 8,799 points. For more details, on broader market movements check our live coverage here. Read more: How next week's spending review could impact your finances What is the Pension Investment Review? Eurozone inflation cools to 1.9% in May paving way for interest rate cut
Yahoo
5 days ago
- Business
- Yahoo
Oil prices rise despite oversupply concerns
Oil prices rose on Thursday morning, as investors looked past concerns about oversupply and economic growth. Brent crude futures (BZ=F) climbed 0.5% to $65.15 a barrel, while West Texas Intermediate futures (CL=F) declined 0.3% at $63.04 a barrel. Earlier on Thursday morning, Hargreaves Lansdown senior equity analyst Matt Britzman said oil prices had "weighed down by growing concerns of a global oversupply". Read more: FTSE 100 LIVE: Stocks rise as traders await ECB interest rate decision "Saudi Arabia is pushing for a major increase in oil production and has slashed prices for Asian buyers, signalling weaker demand," he said. The July price cut by Saudi Arabia, which is the world's biggest oil exporter, comes after the decision from the Organization of the Petroleum Exporting Countries and their allies — known as OPEC+ — over the week to increase output next month. In addition, Britzman said "ongoing trade tensions are adding to market uncertainty". There are concerns that a slowdown in the global economy due to US president Donald Trump's tariff agenda would weigh on demand for fuel. The pound edged higher against the dollar (GBPUSD=X) on Thursday morning, rising 0.1% to trade at $1.3564 at the time of writing. The US dollar index ( which measures the greenback against a basket of six currencies, hovered around the flatline at 98.85. This followed weak US economic data on Wednesday, including a sharp slowdown in private sector hiring growth, as well as a contraction in services sector. On the back of the weak data from ADP's private sector jobs report, US president Donald Trump renewed his call for Federal Reserve chair Jerome Powell to lower interest rates. In a post on Truth Social on Wednesday, referencing the ADP report, Trump said that "Powell must now LOWER THE RATE. He is unbelievable!!!" Jim Reid, market strategist at Deutsche Bank ( said: "Both the ADP and the ISM services prints led investors to price in more rate cuts this year, with clear moves in response to the two prints." Stocks: Create your watchlist and portfolio "In fact by the close, futures were pricing in 58bps (basis points) of rate cuts by the Fed's December meeting, up +8.0bps on the day, and the highest number in over three weeks. And there's growing confidence that we'll see the first rate cut by September, with futures now almost fully pricing (97%) one by that meeting." Attention now turns to the European Central Bank's (ECB) latest decision later on Thursday, with another rate cut expected to be announced. Hargreaves Lansdown's Britzman said: "Investors are all but certain the European Central Bank will cut rates later today down to 2%. Hopes for easing grew after Eurozone inflation dipped to 1.9% in May, just below the ECB's target. "More cuts are on the cards too, with interest rates expected to fall to 1.5% by the end of the year — low enough to start actively supporting the economy." Ahead of the decision, the pound was slightly higher against the euro (GBPEUR=X), up 0.1% at €1.1882 at the time of writing. Gold prices were muted on Thursday morning, as investors weighed weak economic data and the latest developments on trade. Following talks between the US and European Union (EU) in Paris on Wednesday, EU trade commissioner Maroš Šefčovič tweeted: "We're advancing in the right direction at pace — and staying in close contact to maintain the momentum." Meanwhile, US trade representative Jamieson Greer said in a statement that he was "pleased that negotiations are advancing quickly." Read more: Bank of England governor expects interest rates and pay to decrease this year At the same time, trade tensions remain high between the US and China, with Trump having said in a post on Truth Social in the early hours of Wednesday that it was "extremely hard" to reach a deal with China's president Xi Jinping. The different signals on trade negotiations kept gold prices steady. Gold futures (GC=F) traded at $3,307.80 per ounce at the time of writing, while the spot gold price hovered around $3,374 per ounce. In broader market movements, the UK's FTSE 100 (^FTSE) was also little changed on Thursday morning, trading at 8,799 points. For more details, on broader market movements check our live coverage here. Read more: How next week's spending review could impact your finances What is the Pension Investment Review? Eurozone inflation cools to 1.9% in May paving way for interest rate cutError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Oil prices rise despite oversupply concerns
Oil prices rose on Thursday morning, as investors looked past concerns about oversupply and economic growth. Brent crude futures (BZ=F) climbed 0.5% to $65.15 a barrel, while West Texas Intermediate futures (CL=F) declined 0.3% at $63.04 a barrel. Earlier on Thursday morning, Hargreaves Lansdown senior equity analyst Matt Britzman said oil prices had "weighed down by growing concerns of a global oversupply". Read more: FTSE 100 LIVE: Stocks rise as traders await ECB interest rate decision "Saudi Arabia is pushing for a major increase in oil production and has slashed prices for Asian buyers, signalling weaker demand," he said. The July price cut by Saudi Arabia, which is the world's biggest oil exporter, comes after the decision from the Organization of the Petroleum Exporting Countries and their allies — known as OPEC+ — over the week to increase output next month. In addition, Britzman said "ongoing trade tensions are adding to market uncertainty". There are concerns that a slowdown in the global economy due to US president Donald Trump's tariff agenda would weigh on demand for fuel. The pound edged higher against the dollar (GBPUSD=X) on Thursday morning, rising 0.1% to trade at $1.3564 at the time of writing. The US dollar index ( which measures the greenback against a basket of six currencies, hovered around the flatline at 98.85. This followed weak US economic data on Wednesday, including a sharp slowdown in private sector hiring growth, as well as a contraction in services sector. On the back of the weak data from ADP's private sector jobs report, US president Donald Trump renewed his call for Federal Reserve chair Jerome Powell to lower interest rates. In a post on Truth Social on Wednesday, referencing the ADP report, Trump said that "Powell must now LOWER THE RATE. He is unbelievable!!!" Jim Reid, market strategist at Deutsche Bank ( said: "Both the ADP and the ISM services prints led investors to price in more rate cuts this year, with clear moves in response to the two prints." Stocks: Create your watchlist and portfolio "In fact by the close, futures were pricing in 58bps (basis points) of rate cuts by the Fed's December meeting, up +8.0bps on the day, and the highest number in over three weeks. And there's growing confidence that we'll see the first rate cut by September, with futures now almost fully pricing (97%) one by that meeting." Attention now turns to the European Central Bank's (ECB) latest decision later on Thursday, with another rate cut expected to be announced. Hargreaves Lansdown's Britzman said: "Investors are all but certain the European Central Bank will cut rates later today down to 2%. Hopes for easing grew after Eurozone inflation dipped to 1.9% in May, just below the ECB's target. "More cuts are on the cards too, with interest rates expected to fall to 1.5% by the end of the year — low enough to start actively supporting the economy." Ahead of the decision, the pound was slightly higher against the euro (GBPEUR=X), up 0.1% at €1.1882 at the time of writing. Gold prices were muted on Thursday morning, as investors weighed weak economic data and the latest developments on trade. Following talks between the US and European Union (EU) in Paris on Wednesday, EU trade commissioner Maroš Šefčovič tweeted: "We're advancing in the right direction at pace — and staying in close contact to maintain the momentum." Meanwhile, US trade representative Jamieson Greer said in a statement that he was "pleased that negotiations are advancing quickly." Read more: Bank of England governor expects interest rates and pay to decrease this year At the same time, trade tensions remain high between the US and China, with Trump having said in a post on Truth Social in the early hours of Wednesday that it was "extremely hard" to reach a deal with China's president Xi Jinping. The different signals on trade negotiations kept gold prices steady. Gold futures (GC=F) traded at $3,307.80 per ounce at the time of writing, while the spot gold price hovered around $3,374 per ounce. In broader market movements, the UK's FTSE 100 (^FTSE) was also little changed on Thursday morning, trading at 8,799 points. For more details, on broader market movements check our live coverage here. Read more: How next week's spending review could impact your finances What is the Pension Investment Review? Eurozone inflation cools to 1.9% in May paving way for interest rate cutError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-05-2025
- Business
- Yahoo
Stocks to watch this week: Palantir, TSMC, Novo Nordisk and JD Wetherspoon
The coming week is expected to be another busy one for earnings releases, with a number of major companies due to report. In the tech sector, investors will want to see if data analytics software firm Palantir (PLTR) can continue to deliver strong growth and outperform expectations. Another tech name in focus will be TSMC (2330.T, TSM), which is set to release its latest monthly sales figures and is considered a bellwether for the semiconductor sector, as the world's largest contract chipmaker. In Europe, investors will want to see how Danish pharmaceutical company Novo Nordisk ( has performed in the first quarter, as it faces increasing competition in the weight-loss treatment space. On the UK's FTSE 250 (^FTMC), pub chain operator JD Wetherspoon (JDW.L) is due to report, with investors keeping an eye out for any further comments from the company's chairman on how higher labour costs are impacting its business. Here's more on what to look out for: UK investors appear to have been using volatility in markets to buy tech stocks, including software company Palantir (PLTR), which platform data showed has been one of the most bought US stocks in Trump's first 100 days. Palantir shares are up nearly 54% year-to-date, though Hargreaves Lansdown senior equity analyst Matt Britzman said that the stock has been twice as volatile as the broader market in the past three months, "so investors have had to strap in". "Palantir has become a key name in the AI investment space, but its high valuation means there's immense pressure to deliver impressive growth," he said. Britzman said that the company's first quarter results "need to show continued strength, with revenue growth of 36% and a significantly bigger jump in profits expected." Stocks: Create your watchlist and portfolio In the fourth quarter, Palantir posted a 36% increase in revenue year-on-year to $828m, while adjusted earnings per share rose to $0.14, up from $0.08 for the same period in 2023. For the full-year 2024, revenue grew by 29% year-on-year to $2.87bn and adjusted earnings per share came in at $0.41, up from $0.25 for 2023. For the first quarter, Palantir guided to revenue of between $858m and $862m and adjusted income from operations of $354m to $358m. For the full-year 2025, Palantir said it expected to generate revenue of $3.74bn and $3.75bn, while adjusted income from operations was anticipated to between $1.55bn and $1.56bn. "Markets will be closely watching progress in Palantir's consumer division and the adoption of its Artificial Intelligence Platform (AIP)," said Britzman. "Success in these areas is vital for expanding beyond government contracts and tapping into the vast enterprise market." "This is an exciting business, but the valuation can only be justified with an unprecedented level of growth over the medium term – results will likely need to exceed expectations to keep the bears at bay," he added. Taiwan Semiconductor Manufacturing Company (TSM, posted a sharp rise in first-quarter profits in its first quarter results in April, bolstered by growing demand for artificial intelligence chips. TSMC posted a 60.3% increase in net income year-on-year at $361.56bn Taiwan dollars, while diluted earnings per share rose 60.4% to NT$13.94. Revenue for the first quarter was up 41.6% to NT$839.25bn. Wendell Huang, senior vice president and chief financial officer of TSMC, said that business in the first quarter "was impacted by smartphone seasonality, partially offset by continued growth in AI-related demand." Read more: Eurozone inflation holds steady at 2.2% "Moving into second quarter 2025, we expect our business to be supported by strong demand for our industry-leading 3nm and 5nm technologies," he said. TSMC guided to revenue of between $28.4bn and $29.2bn, while the company's gross profit margin was expected to come in at between 57% and 59%. Despite strong performance and guidance, Huang struck a more cautious tone around US tariffs. "While we have not seen any changes in our customers' behavior so far, uncertainties and risks from the potential impact from tariff policies exist," he said. "We will continue to closely monitor the potential impact on the end market demand, and manage our business prudently." Given market nervousness around tariffs, investors will continue to be monitoring TSMC's monthly sales figures, with the latest set of figures for April due out on Friday 9 May. Shares in Novo Nordisk ( fell after rival Eli Lilly (LLY) posted positive results from its phase three trial of a weight-loss pill. Earlier this week, Novo Nordisk announced it was expanding patient access to its blockbuster weight-loss jab Wegovy via tie-ups with multiple telehealth organisations in the US. Derren Nathan, head of equity analysis at Hargreaves Lansdown, said that the company's full-year guidance will be "under intense scrutiny in next week's first-quarter results", with it having guided to sales growth of 16% to 24% in 2025. Read more: Stocks that are trending today He said that there was likely to be particular focus on Wegovy. Nathan said that "while analysts still see plenty of opportunities to go for in the anti-obesity market, Novo's market share is coming under pressure. "There have also been some disappointments on what use cases US public healthcare providers are prepared to fund," he said. "Competition is heating up to bring differentiated products to market in the space, too." "With that in mind, investors will also be looking out for updates from Novo's research pipeline," he added. "An oral formulation of the active ingredient in Wegovy, additional approvals for existing therapies, as well as next-generation medicines are all still in play." Shares in JD Wetherspoon (JDW.L) fell after the UK pub giant reported a dip in profits in its half-year results in March. Profit before tax and separately disclosed items came in at £32.9m ($43.7m) for the first half of the year, down from £36m for the period in 2024. However, JD Wetherspoon did post a 3.9% increase in total sales in the first half of 2025 at £1.03bn. In the results, JD Wetherspoon chairman Tim Martin reiterated previous warnings around the impact of higher costs from increases to employer national insurance contributions and the minimum wage that were announced in the autumn budget. He said this would result in cost increases of approxinately £60m a year, which would amount to around £1,500 a week per pub. Read more: Six FTSE 100 stock ideas for the second quarter, according to Barclays "Since labour costs are around 35% of the pub industry's sales, compared to around 11% for supermarkets, increases of this nature inevitably have a disproportionate impact on pubs, exacerbating the already-wide price differential for customers between the on and off-trade," he said. "The combination of much higher VAT rates for pubs than supermarkets, combined with increased labour costs will weigh heavily on the pub industry." Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Faced with higher costs, 'Spoons has been feeling the strain." "Although revenues have been rising, it's going to be a struggle to offset these higher costs with increased sales going forward," she said. "Amid the clouded outlook, investors will be keen for fresh guidance about what the coming months will bring," Streeter added. "The chain's value credentials will hold it in good stead if the economy deteriorates, and the pivot of its estate away from underperforming pubs to areas of high footfall, like transport hubs, also offers resilience. But the outlook ahead is still likely to be glass half empty rather than glass half full." Monday 5 May Palantir (PLTR) CRH (CRH) Ford (F) Cummins (CMI) BioNTech (BNTX) Tyson Foods (TSN) Loews (L) Clorox (CLX) ON Semiconductor (ON) Lattice Semiconductor (LSCC) Mattel (MAT) Tuesday 6 May IWG (IWG.L) Axa ( Ferrari ( Intesa SanPaolo ( Coloplast ( Philips ( Uniper ( Vestas Wind Systems ( Continental ( Fresenius Medical Care ( Zalando ( AMD (AMD) Zoetis (ZTS) Constellation Energy (CEG) Marathon Petroleum (MPC) Super Micro Computer (SMCI) Fastenal (FAST) Electronic Arts (EA) Rivian Automotive (RIVN) Ball (BALL) Mosaic (MOS) Cirrus Logic (CRUS) Coty (COTY) Wednesday 7 May Card Factory (CARD.L) Smiths News (SNWS.L) Japan Tobacco (2914.T) Zurich Insurance ( Unicredit ( Siemens Healthineers ( BMW ( Wolters Kluwer ( Ahold Delhaize ( Legrand ( Fresenius ( Endesa ( Randstad ( Pandora ( Skanska ( Telecom Italia ( Uber (UBER) ARM (ARM) Applovin (APP) DoorDash (DASH) Barrick Gold (GOLD) Carvana (CVNA) Rockwell (ROK) Formula One (FWONK) Zillow (Z) Coherent (COHR) Thursday 8 May Next (NXT.L) Airtel Africa (AAF.L) Helios Towers (HTWS.L) InterContinental Hotels (IHG.L) Mondi (MNDI.L) IMI (IMI.L) Derwent London (DLN.L) Harbour Energy (HBR.L) Toyota (7203.T) Nintendo (7974.T) Takeda Pharmaceuticals (4502.T) Nippon Steel (5401.T) Nikon (7731.T) Mitsubishi Motors (7211.T) SMIC ( AB InBev ( ENEL ( Infineon Technologies ( Henkel ( Amadeus ( Siemens Energy ( AP Møller-Maersk ( Leonardo ( Mediobanca ( Banco de Sabadell ( Davide Campari-Milano ( Puma ( Solvay ( Acerinox ( Brembo ( ConocoPhillips (COP) Shopify (SHOP) Coinbase Global (COIN) Franco Nevada (FNV) Warner Bros Discovery (WBD) Tapestry (TPR) DraftKings (DKNG) Warner Music (WMG) Molson Coors (TAP) Illumina (ILMN) Paramount Global (PARA) Polestar (PSNY) Friday 9 May International Consolidated Airlines (IAG.L) Macquarie ( NTT (9432.T) Mitsubishi Heavy Industries (7011.T) Commerzbank ( Orkla ( Krones ( AngloGold Ashanti (AU) You can read Yahoo Finance's full calendar here. Read more: NatWest beats profit estimates for the first quarter How Trump and Melania meme coins are performing after 100 days UK mortgage borrowing hit four-year high before stamp duty hikeSign in to access your portfolio
BBC News
30-04-2025
- Business
- BBC News
Meta warns of 'worse' experience for European users
Meta warned Wednesday that European users could face a "materially worse" experience following a key regulatory decision by the European recently introduced a "consent or pay" model which leaves users to choose between paying for a monthly subscription or letting Meta combine data it has collected on Facebook and week, the European Commision - the EU's executive - announced it had decided that the model does not comply with the Digital Markets Act (DMA) and fined Meta €200m (£171m)."Based on feedback from the EC in connection with the DMA, we expect we will need to make some modifications to our model," Meta said in its quarterly earnings statement. Meta said it expected those modifications "could result in a materially worse user experience for European users and a significant impact" to its European business and company said those impacts could kick in as soon as the third quarter of this year, and may be in effect while it appeals the Seufert, analyst at Mobile Dev Memo, said Meta may be trying to strategically turn European users into "vocal cheerleaders" for its products amid a regulatory clampdown."What they ultimately want to do is turn public opinion against this regulatory regime which will demonstrably degrade the product offerings that are available to EU residents," Seufert told the BBC in a phone interview after the formerly known as Facebook, includes the social media network in addition to the photo sharing app Instagram and the messaging service Commission has said that Meta's consent-or-pay model does not allow users to freely consent to how their data is body is currently assessing another option Meta introduced last year, which the company says uses less personal data to display was given 60 days to comply with the DMA's recent decision, or risk further was also issued a €500m (£428m) fine over its App Store practices last announcement comes as it released quarterly earnings that beat Wall Street results showed Meta continues to bring in significant advertising company touted its AI tools on Wednesday. "We're making good progress on AI glasses and Meta AI, which now has almost 1 billion monthly actives," Meta founder and CEO Mark Zuckerberg said in a statement."Our community continues to grow and our business is performing very well," he Britzman, senior equity analyst at Hargreaves Lansdown said the results showed that Meta has gone "full throttle on investments in AI" and notesBritzman also noted the 6% jump in daily active users."There had been some concerns that we might see a slowdown in new users this year, but this was a very strong start and a signal to investors that Meta's family of apps has a grip on users that's hard to displace," Britzman EC fine comes amid what Meta called "an active regulatory landscape" in its earnings company is currently defending itself at trial in a case brought by the US Federal Trade Commission which alleges that Meta runs a social media FTC, the top antitrust watchdog in the US, says Meta cemented its monopoly by purchasing Instagram in 2012 and WhatsApp in 2014.
