Morgan Stanley News

Andrew Millward is a pretty good macro trader. After graduating from the University of Cambridge and the University of Oxford, he spent 11.5 years at JPMorgan and then a similar amount of time at Morgan Stanley. At the latter, he was both a managing director and the EMEA head of macro trading.

Citadel started this year by betting big on its energy trading business, and CEO of Citadel Energy Marketing.– former Morgan Stanley alum Jay Rubenstein – seems to be bringing in people with the same pedigree as him to bolster the business.

2023 may not be a bumper year for banks, but that doesn’t mean that banks aren’t on the look out for good risk managers to keep them out of (general) trouble.

Paris is Europe's new and most shiny financial centre. And HEC is one of France's finest educational establishment for students looking for finance jobs. But HEC students still want to work in London most of all. 

Fitch's move to downgrade US rating as an excuse to book some profits off the table. Sensex has plunged about 1,500 points in 2 days while Nifty broke below the 19,300-zone. In the two-day selloff, investors have become poorer by Rs 5.7 lakh crore. While Fitch's statement had nothing new to offer as it is a well-known fact that developed market governments are getting more indebted, the downgrade of US rating to AA+ from AAA is seen as being sentimentally negative for riskier assets. In sync with the risk-off reaction in global and other Asian markets, Sensex plunged over 800 points on Thursday with Reliance Industries (RIL), banks and IT stocks leading the downside. Realty, banks and other financial stocks were among the worst affected but pharma stocks managed to thrive in the selling pressure on the back of Q1 earnings report card. Amid the global sell-off, Dalal Street traders also overlooked Morgan Stanley's upgrading of Indian equities to overweight position. Citing a structural uptrend, secular leadership and relative valuations being less extreme than in October, the global brokerage firm has placed India at the No.1 position in its basket of Asian emerging markets ex-Japan.

Sydney fund manager Clayton Larcombe worked for US investment bank JP Morgan for three months, in the Philippines, not the two years claimed on his now-defunct LinkedIn profile.

Also Read: Morgan Stanley upgrades India to Overweight citing ‘less extreme’ valuations; downgrades China to Equal-weight "The resilience of the service sector underscores its vital role in fuelling India's economy, with the PMI results for July so far pointing to a notable contribution from the sector to overall GDP for the second fiscal quarter," noted Pollyanna De Lima, economics associate director at S&P Global Market Intelligence. Meanwhile, the manufacturing sector PMI dipped to 57.7 in July, data released on Monday showed.

Mankind Pharma, Jefferies retained an underperform rating on HPCL, Morgan Stanley had a buy call on Indigo and HSBC maintained a buy on Titan Company. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on M&M Finance: Equal-Weight| Target Rs 300 Morgan Stanley maintained an equal-weight rating on M&M Finance with a target price of Rs 300. Disbursements and collections remained strong in July. Collection efficiency in July was also marginally better.Macquarie on Mankind Pharma: Outperform| Target Rs 1450 Macquarie maintained an outperform rating on Mankind Pharma with a target price of Rs 1450.

Morgan Stanley on Thursday upgraded Indian stocks to overweight rating and ranked India as the No. 1 market in its basket of Asian emerging markets ex-Japan. Beating the likes of Korea and UAE, India jumped 5 places in Morgan Stanley's list on the back of a structural uptrend, secular leadership and relative valuations being less extreme than in October.

China’s economy faces the growing risk of a “double dip", says Ting Lu of Nomura, a bank. Growth from one quarter to the next may fall close to zero, even if headline growth, which compares GDP with a year earlier, remains respectable. Elsewhere in the world, weak growth is accompanied by uncomfortable inflation.

BENGALURU : KKR & Co. on Wednesday said it has agreed to buy a majority stake in logistics solutions company Leap India, a move that will deepen the US private equity firm’s presence in Asia’s infrastructure space. The transaction will also bolster KKR’s infrastructure bets in India that include investments in a decarbonization platform, renewable energy companies, and highways and power transmission businesses.

NEW DELHI : Morgan Stanley on Wednesday said it expects India’s retail inflation to leap to 6.2% at the end of the quarter ending September, against its previous forecast of 5.5%, due to higher prices of food. However, the consumer price index (CPI) is expected to moderate to 5-6% in the second half of FY24. The investment bank said despite its core inflation forecast for India remaining unchanged, it maintains the base case of a shallow rate cut cycle from Jan-March 2024.

Food Price Index, which accounts for nearly half of the overall consumer price basket, rose to 4.49% in June 2023 against 2.96% (revised) in May 2023. Other economists have also cautioned that inflation could cross 5% in the next two months on a continued rise in prices of vegetables, pulses and cereals.

PAC Capital, a Sydney-based fund manager that promotes itself as an expert in computer gaming, took down performance updates and other information from its website on Tuesday after The Australian Financial Review raised questions about some of its accuracy.

Three former Morgan Stanley financial advisors have launched their own firm with help from LPL Financial’s supported independence model, Strategic Wealth Services.

The S&P 500 received its most bullish outlook yet from Oppenheimer Asset Management, which sees further upside for stocks as the Federal Reserve nears a pivot and the US economy stays resilient.

Morgan Stanley's Emea head Clare Woodman has been appointed to chair a panel of City grandees that advises the Financial Conduct Authority.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 1st August Japan’s Nikkei 225 gained 0.15%, while the Topix was flat. South Korea’s Kospi rose 0.66% and the Kosdaq added 0.48%. Hong Kong’s Hang Seng index futures traded around 270 points higher at 20,348, hinting a stronger open.

Investing.com — U.S. futures edged higher Monday, at the start of a week that includes more earnings from tech giants as well as the important monthly jobs report.

Morgan Stanley has backtracked on hiring a senior dealmaker who was due to join in August.

Check out the companies making headlines before the bell: