Europeans ‘less hard-working’ than Americans, says Norway oil fund boss Tangen finds US investments more attractive due to weaker regulations and more risk-taking >>>
Europe is less hard-working, less ambitious, more regulated and more risk-averse than the US, according to the boss of Norway’s giant oil fund, with the gap between the two continents only getting wider. Nicolai Tangen, chief executive of the $1.6tn fund, told the Financial Times it was “worrisome” that American companies were outpacing their European rivals on innovation and technology, leading to vast outperformance of US shares in the past decade. His views are significant as the oil fund is one of the largest single investors in the world, owning on average 1.5 per cent of every listed company globally and 2.5 per cent of every European equity. Its US holdings have increased in the past decade while its European ones have declined. US shares account for almost half of all its equities compared with 32 per cent in 2013. The leading European country — the UK — represented 15 per cent of its equity portfolio a decade ago but just 6 per cent last year. Source: FT
MUST READ: Mario Draghi, who is writing a report on how to revive the European economy at the request of Brussels, shares “the design and the philosophy” of his forthcoming report.
https://lnkd.in/emkyzQCN Source: Javier Blas
European Stocks are on track for their 8th consecutive green week which would be their longest winning streak since 2022
source : barchart
Who are Europe's GRANOLAS?
Novo Nordisk $NVO LVMH $LVMUY ASML $ASML Nestlé $NSRGY L'Oréal $LRLCY SAP $SAP Roche $RHHBY AstraZeneca $AZN Novartis $NVS Sanofi $SNY GSK $GSK Source: App Economy Insights
Europe's leading stock index reaches 500 points for the first time, 24 years following its achievement of 400 points
source : Bloomberg
Eurozone CPI slowed less than anticipated in Feb, highlighting stickiness in inflation
Headline inflation eased to 2.6% YoY in Feb, above 2.5% consensus estimate in BBG survey. Core inflation came down by 0.2%-pt to 3.1%, also an upward surprise compared to 2.9% consensus estimate. Source: Bloomberg
In case you missed it... European gas price falls to pre-energy crisis level
Strong imports of liquefied natural gas, warm weather and demand reduction as a result of high prices in recent years have all helped keep gas stored in the EU’s underground storage facilities at historically high levels during this winter, putting pressure on prices. The price of Title Transfer Facility (TTF), the European benchmark, fell to as low as €22.53 per megawatt hour on Friday, the lowest since May 2021, on course for a third consecutive weekly decline. Source: FT
Yes, the Eurostoxx 50 (orange line) is beating the NASDAQ (purple line) since the start of the year...
Source: TME
