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...at the research company Capital Economics....
...The S&P Global/Cips UK construction purchasing managers’ index, a measure of the health of the industry, rose to 49.7 in February from 48.8 in January....
...Tim Moore of S&P Global Market Intelligence said construction companies were “increasingly optimistic that the worst could be behind them soon as recession risks fade and interest rate cuts appear close...
...But he said “expectations of falling interest rates during the months ahead” appeared to have supported confidence at construction companies....
...S&P Global and Hamburg Commercial Bank’s Germany construction purchasing managers’ index for December showed a sector deep in contraction at the end of 2023 with a “bleak outlook” for 2024....
...The S&P Global/Cips UK construction purchasing managers’ index fell marginally to 45.5 in November from 45.6 the previous month....
...And the company’s got the earnings to prove that it’s worth it. So you know investors are paying a lot for these shares. But the earnings are there. The company is just a runaway success right now....
...Financial markets closed Germany: monthly import prices data US: monthly construction spending figures plus final S&P Global manufacturing purchasing managers’ index (PMI) data Tuesday EU, France, Germany...
...The S&P Global/Cips UK construction purchasing managers’ index rose slightly to 45.6 last month from 45 in September but remained below the 50 point mark, indicating that most businesses reported a contraction...
...But over the past 10 quarters, net interest expense (that is, interest expense less investment income) among S&P companies has been steady and the recent trend is, if anything, up....
...Dropbox was down 23.7 per cent after the cloud storage company reported results on Thursday afternoon that included a revenue outlook that fell below analysts’ expectations....
...There they can remain until they are so large they qualify for the S&P 500, or are flipped to another PE fund or rival company....
...Construction companies blamed the slowdown on “cutbacks to new residential development projects in the wake of sluggish demand and rising borrowing costs”, said Tim Moore, economics director at S&P Global...
...Last year, Wells Fargo signed a deal to lend billions to a new credit fund run by Centerbridge, a $40bn private equity firm that led the buyouts of restaurant chain P.F....
...By the time Tesla was included in the S&P 500 index, it had already become the sixth-largest US company by market capitalisation....
...Ford will cut output of the electric version of its popular F-150 pick-up....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...The S&P Global/Cips UK Construction Purchasing Managers’ Index, a measure of activity, fell to 50.8 in August, down from 51.7 in July....
...Ticker symbols have taken on an outsized importance in the exchange traded fund world, where pursuit of the kind of name recognition enjoyed by funds such as SPY, the SPDR S&P 500 ETF, has become the holy...
...The first is a standalone public company — albeit with a lot of other businesses bolted on — while the latter two are part of broader listed companies, S&P Global and LSEG respectively....
...Yet since the great financial crisis, fears of ecommerce disruption to the grocery business have kept construction in the retail sector subdued....
...Passive investors whose ethos is to try to take very long-term views on their portfolio construction face some hard choices....
...Over the past three years, the Italian benchmark has eclipsed the S&P 500 index in local currency terms....
...Construction groups including Caterpillar’s financial services arm have come to the market too, with some companies tapping lenders multiple times already in the first three months of 2024....
...Chart of the day The S&P 500 rose 3.1 per cent in July after closing up 0.2 per cent yesterday at 4,588.96....
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