Latest news with #LSEG
Yahoo
11 minutes ago
- Business
- Yahoo
US equity funds see hefty outflows on Israel-Iran conflict
(Reuters) -U.S. equity funds logged the largest weekly outflow in three months in the week through June 18 as intensifying Israel-Iran tensions and persistent concerns over the economic impact of elevated U.S. tariffs drove investors to reduce risk exposure. According to LSEG Lipper data, investors exited U.S. equity funds of $18.43 billion during the week, posting the largest weekly net figure since March 19. As a week-old air war between Israel and Iran intensified, the White House on Thursday said President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the war. Investors ditched a robust $19.38 billion worth of large-cap equity funds - the largest weekly net figure since March 19. The small-cap and mid-cap segments also witnessed approximately $2.4 billion and $1.5 billion worth of net withdrawals. U.S. sectoral funds, however, were popular for a fourth straight week, drawing in roughly $855 million in net inflows. The tech and industrial sectors secured a noteworthy $1.85 billion and $445 million, respectively, in net purchases, while the financial sector lost a significant $1.22 billion in net selling. U.S. bond fund inflows, meanwhile, dropped to a seven-week low of $2.79 billion during the week. The short-to-intermediate investment-grade funds, and short-to-intermediate government and treasury funds segments received just $642 million and $616 million, respectively, compared with approximately $2.37 billion and $1.02 billion worth of weekly net purchases in the prior week. Demand for mortgage funds was, however, at a five-week high as these funds attracted weekly net inflows of $566 million. Money market funds were meanwhile out of luck for a second successive week with weekly disposals worth a net of $7.75 billion. Error 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
CNA
37 minutes ago
- Business
- CNA
Accenture beats third-quarter revenue estimates
Accenture beat Wall Street estimates for third-quarter revenue on Friday, driven by growing demand for the consulting giant's AI-driven services from enterprise customers. The company reported revenue of $17.7 billion for the quarter ended May 31, compared with analysts' average estimate of $17.30 billion, according to data compiled by LSEG.
Reuters
41 minutes ago
- Business
- Reuters
Accenture beats third-quarter revenue estimates
June 20 (Reuters) - Accenture (ACN.N), opens new tab beat Wall Street estimates for third-quarter revenue on Friday, driven by growing demand for the consulting giant's AI-driven services from enterprise customers. The company reported revenue of $17.7 billion for the quarter ended May 31, compared with analysts' average estimate of $17.30 billion, according to data compiled by LSEG.
Yahoo
42 minutes ago
- Business
- Yahoo
Global equity funds log biggest outflows in three months on Mideast tensions
(Reuters) -Global equity funds recorded net outflows of $19.82 billion for the week ended June 18, the largest in three months, as escalating Middle East tensions and lingering uncertainty over U.S. trade policies dampened investor sentiment Investors divested a net $19.82 billion from global equity funds during the week, according to LSEG Lipper data. U.S. equity funds led regional outflows with net sales of $18.43 billion, their steepest withdrawal in three months. Asia saw outflows of $2.86 billion, while Europe recorded net inflows of $640 million. Despite broader outflows, equity sectoral funds attracted $573 million in net inflows, the fourth straight week of purchases. Tech and industrials led sectoral gains with a net $1.5 billion and $752 million in inflows, respectively, while financials saw nearly $1.5 billion of net outflows. Global bond funds were popular for the ninth consecutive week, attracting around $13.13 billion in net inflows. Euro-denominated bond funds drew $3.07 billion in net inflows, following $7.97 billion of inflows in the prior week. Investors also lapped up short-term and high-yield bond funds, which garnered $2.93 billion and $1.94 billion, respectively. In contrast, investors pulled out a net $2.7 billion from money market funds after about $4.1 billion of net sales in the previous week. Demand for gold and precious metals commodity funds surged to the highest in two months during the week as these funds received $2.84 billion in net inflows. Emerging market bond funds attracted net inflows of $2.5 billion, with demand extending to an eighth successive week. Investors, however, withdrew $234 million from equity funds, according to data for 29,726 funds. Error 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
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Business Standard
2 hours ago
- Business
- Business Standard
Russia increases seaborne fuel oil exports to India, Turkey in May
Oil prices fell to four-year lows as an Opec+ decision to expedite its output hikes stoked fears about rising global supply at a time when the demand outlook is uncertain Reuters MOSCOW Russia increased seaborne fuel oil and vacuum gasoil exports to India and Turkey in May as falling oil product prices attracted buyers, while the hot summer season required more fuel for energy production, trade and shipping data showed. Oil prices fell to four-year lows as an Opec+ decision to expedite its output hikes stoked fears about rising global supply at a time when the demand outlook is uncertain. Since the European Union's full embargo on Russian oil products went into effect in February 2023, Asian countries have become the main destination for Russia's fuel oil and VGO supplies. According to LSEG data, dirty oil products loadings from Russian ports to India almost doubled last month from April to 0.6 million metric tons. India imports straight-run fuel oil and VGO from Russia as a cheaper alternative to Urals crude oil in its refinery feedstock pool. Meanwhile, India's Reliance Industries and Nayara Energy imported 37% and 3% less Russian oil last month, respectively, than in April. Russia's seaborne fuel oil and vacuum gasoil exports to Turkey rose 75% month-on-month in May to 0.43 million tons, shipping data shows. Saudi Arabia was the main importer of Russian seaborne fuel oil last month, though loadings fell 17% from April to 0.7 million tons. The country has turned to importing more discounted Russian fuel oil for summer since 2023 as its prices declined following an EU embargo on the import of oil products from Russia. Singapore and China were also among the other top destinations for Russian fuel oil and VGO export supplies in May, according to LSEG data. Meanwhile, Russia's fuel oil supplies to Asia via the African Cape of Good Hope fell in May to around 85,000 tons, the lowest level since the start of the year. Traders have been diverting Russian oil products cargoes around Africa since December 2023 to avoid the Red Sea due to a heightened risk of attacks by Yemen's Iran-aligned Houthi group. The escalation of military strikes between Iran and Israel could also force shipowners to avoid the Red Sea routes on their way to Asian countries. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
