Hints and tips:
...It could enter the Russell 1000 index in the same month, assuming FTSE Russell views the US to be the company’s most liquid exchange — it has retained an ordinary, but not primary, listing in London, but...
...Analysts at Jefferies said the downgrade would lead to significant investment outflows from the stock....
...The Russell 2000 index of small-cap companies rose to its highest level since the US regional banking crisis in March, before slipping 0.3 per cent....
...He is handing over his responsibilities to Russell Horwitz, a former Goldman partner who left the group in 2020 to join Citadel, where he was employed until June....
...The Russell 2000 growth index continues to outperform Russell 2000 value this month. In terms of sector performance, there have been a few changes since SVB blew up....
...Jefferies notes that FTSE Russell’s latest updates on the two-month process indicate that Meta will probably account for 1.8 per cent of the value index once the reconstitution goes into effect at the end...
...Charlie Jeffery, vice-chancellor of the University of York, said it was “inevitable” that universities would in time look to diversify funding streams....
...With Tesla ramping up production quickly at giant new plants in Texas and Germany, it now has the added problem of finding many more customers, says Philippe Houchois, a global automotive analyst at Jefferies...
...Philippe Houchois, an auto analyst at Jefferies, said Mercedes faced a “dilemma” in trying to convince investors of its luxury pedigree....
...“The analyst briefing was relatively more optimistic than recent meetings with plans to cautiously add flights and destinations on cash generative routes,” said Andrew Lee, equity analyst at Jefferies....
...More than 20 per cent of the companies joining the Russell 3000 index this year will have gone public through Spacs, according to Steven DeSanctis, an equity strategist at Jefferies....
...“We had believed that Glencore’s marketing earnings for 2022 could possibly exceed last year’s record of $3.7bn,” Christopher LaFemina, analyst at Jefferies, wrote in a recent report....
...Analysts at Jefferies reduced their Ebitda forecast for 2023 by 18 per cent in wake of Boohoo’s results....
...Assets held in large-cap value ETFs have grown a brisk 4.3 per cent year-to-date, but that has recently slowed to a trickle, according to Jefferies data....
...“The bond markets are beginning to overrun the policymakers and price in a much faster pace of tightening,” Jefferies strategist Sean Darby said....
...Sarsfield’s former co-head Craig Russell will become vice-chair of asset management....
...Meanwhile, the Russell 2000 index of small-cap stocks slid 0.2 per cent on the day, but clocked its eighth consecutive monthly rise — it’s longest winning streak since 1995....
...“The Pfizer news was the big step-change but this clearly helps,” said Chris Jeffery, a fixed-income strategist at Legal & General Investment Management....
...Meanwhile, the Russell 2000 grouping of small-cap stocks, seen as a barometer of the US economy, rose 1.9 per cent....
...King & Spalding has hired Russell Sacks as a partner in its corporate finance practice. He joins the New York office from Shearman & Sterling....
...Russell Quelch, financials specialist at Redburn, said the division had “long been an overhang on group profitability”, and investors welcomed the plan to shrink it....
...Tesla, which is in the Russell 1000 index, not the S&P 500, climbed 7 per cent to close at a record high of its own....
...On June 22, index compiler FTSE Russell will reshuffle the FTSE 100....
...Brad Bechtel at Jefferies believes: “The big level to watch remains 7.2000 as the market will view that as a bit of a regime change if we get through that level.”...
...“If companies can access capital, then they should be able to survive the shutdowns,” said David Vickers, a portfolio manager at Russell Investments....
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