Global hedge funds went on a stock-buying spree just ahead of a U.S. jobs report that drove the S&P 500 and Nasdaq to their highest closing levels since early 2022, a Morgan Stanley’s prime brokerage note showed.
Manulife Financial Corp will reinsure C$13 billion ($9.57 billion) of its reserves with Global Atlantic, a move that will free up C$1.2 billion in capital to buy back shares, Canada’s largest insurer said on Monday.
TD Bank Group said on Monday its Canadian personal banking segment’s group head Michael Rhodes is leaving the lender and will be replaced by insider Ray Chun, effective immediately.
Spain’s Santander , the euro zone’s second-biggest bank by market value, on Monday said the European Central Bank (ECB) had set a minimum threshold for its strictest measure of solvency above the previous year’s level.
Bank of Nova Scotia CEO Scott Thomson will face shareholders for the first time on Wednesday since taking the job with expectations running high for the Canadian lender to outline a plan to fix its struggling Latin American units and a vision to grow profits at home.
Global hedge funds sold financial stocks for a 10th week running in the week ending Dec. 8 and now have the lowest exposure to the sector since March 2020, when the COVID-19 crisis roiled markets, a Goldman Sachs note said.
New York-based stock exchange Nasdaq Inc agreed to pay a $4 million settlement to the U.S. Department of Treasury over apparent violations of sanctions against Iran by a former Nasdaq unit, the department’s Office of Foreign Assets Control (OFAC) said on Friday.
The S&P 500 is poised for solid gains next year on strong earnings growth and a broadening of the stock market’s rally, strategists at Citigroup said on Friday.
Activist investor Elliott Investment Management said on Friday that the exit of Crown Castle CEO Jay Brown, who will be leaving in January, was a step in the “right direction” but more changes were needed at the wireless tower owner.
