Diversified Financials Capital Markets

  • TORONTO, July 20- Canada's main stock index set an 11- month high on Wednesday as oil prices turned higher and financial and energy shares advanced, offsetting losses for gold stocks as the precious metal fell. Financials rose 0.6 percent, including a 0.7 percent gain for Royal Bank of Canada to C $80.49. Brookfield Asset Management Inc rose 0.6 percent to C $45.90.

  • *Roman to replace Douglas Hodge on Nov. 1. *Luke Ellis to succeed Roman on Sep. 1. LONDON, July 20- Pacific Investment Management Co has poached Emmanuel' Manny' Roman from Man Group, the world's biggest listed hedge fund, as it tries to reverse a slump in fortunes since co-founder Bill Gross left the fund manager in 2014..

  • Mark Burgess, Chief Investment Officer EMEA and global head of equities at the firm, said there were a number of headwinds facing the UK economy as it detaches itself from the European Union over the coming years. This would likely reduce economic activity in the UK and impact domestic profits. The asset manager reduced its exposure to "neutral" from "overweight" in...

  • July 20- Wall Street investment bank Morgan Stanley reported a lower, but better-than-expected, adjusted second-quarter profit on Wednesday, helped by a decline in expenses. The bank said its net income attributable to common shareholders was $1.43 billion, or 75 cents per share, in the quarter ended June 30. Morgan Stanley, which is in the midst of a $1 billion...

  • *Roman to replace Douglas Hodge on Nov. 1. *Luke Ellis to succeed Roman on Sep. 1. LONDON, July 20- Pacific Investment Management Co has poached Emmanuel' Manny' Roman from Man Group, the world's biggest listed hedge fund, as it tries to reverse a slump in fortunes since co-founder Bill Gross left in 2014..

  • *Roman to replace Douglas Hodge on Nov. 1. Roman will take over asset manager PIMCO on Nov. 1, Man Group said on Wednesday, replacing the incumbent Douglas Hodge. Luke Ellis will succeed Roman as chief executive officer of Man Group, the company said in an exchange filing.

  • SAN FRANCISCO, July 19- The California State Teachers' Retirement System reported on Tuesday an investment return of 1.4 percent for its fiscal year ending June 30, underperforming the system's assumed rate of return of 7.5 percent. The country's second largest public pension fund, known as CalSTRS, reported that the past fiscal year was marked by volatile...

  • SAN FRANCISCO, July 19- The California State Teachers' Retirement System reported on Tuesday an investment return of 1.4 percent for its fiscal year ending June 30, underperforming the system's assumed rate of return of 7.5 percent.

  • LONDON, July 19- One of the biggest investors in Britain, Fidelity International, threw its weight on Tuesday behind a plan from Theresa May to clamp down on executive pay, in an early boost for Britain's new prime minister. Fidelity International, which has 185 billion pounds of assets under management across a number of markets, said that May's proposal to make...

  • ZURICH, July 19- Greek investigators raided the Athens home of a former UBS banker earlier this month, furthering a probe into alleged tax evasion seven months after officials seized documents from the Swiss bank's Athens office. Sclavounis headed UBS's investment banking business in Greece before becoming chairman of the Hellenic Financial Stability...

  • LONDON, July 19- A Dallas hedge fund was among investors betting on a fall in the price of ARM Holdings when SoftBank Group's surprise $32 billion bid sent shares in the British chip designer surging nearly 50 percent. Data from Britain's regulator, the Financial Conduct Authority, shows that Maverick Capital had a substantial outstanding short position in ARM...

  • LONDON, July 19- Hedge funds from the United States, Singapore and Hong Kong should be allowed to market themselves in the European Union, the bloc's financial watchdog said on Tuesday. The long-delayed recommendation from the European Securities and Markets Authority to the EU's executive European Commission for endorsement is a taste of what Britain's...

  • LONDON, July 19- Hedge funds from the United States, Singapore and Hong Kong should be allowed to market themselves in the European Union, the bloc's financial watchdog said on Tuesday. The long-delayed recommendation from the European Securities and Markets Authority to the EU's executive European Commission for endorsement is a taste of what Britain's...

  • As of 0418 GMT on Tuesday, spot gold was up by a slight 0.1 percent at $1,329.01 an ounce, while U.S. gold was also up 0.1 percent at $1,330.10 an ounce. What we saw on Monday was a bit of a reaction to Friday's solid U.S. retail numbers, "said Dominic Schnider of UBS Wealth Management in Hong Kong. Gold has risen almost 25 percent this year, with recent gains being driven by an...

  • July 18- Murray Energy Corp, one of the largest privately held U.S. coal miners, is working with investment banks to renegotiate terms of its credit agreements in a bid to stave off bankruptcy, people familiar with the talks said on Monday. Covenants under some of the agreements became more restrictive in the third quarter this year, Standard& Poor's Ratings...

  • NEW YORK, July 18- A former portfolio manager at Visium Asset Management LP pleaded not guilty on Monday to charges that he engaged in a scheme to defraud investors by inflating the value of a bond fund and overstating its liquidity. Stefan Lumiere, 45, entered his plea to conspiracy, securities fraud and wire fraud charges in federal court in Manhattan, about a...

  • BlackRock Inc, the world's largest asset manager, and Norges Bank Investment Management, Norway's $872 billion sovereign wealth fund are among the major funds resisting, encouraging companies to consult them before responding to an activist. The most recent example of pushback against activist settlements involves U.S. retailer Chico's FAS and Barington...

  • *Wall Street headhunters get calls from European banks. LONDON/ NEW YORK July 18- Market ructions caused by Britain's decision to leave the European Union are set to widen the gulf between Wall Street and European investment banks, potentially leaving the continent without its own global champion. Since Britain's vote to leave the European Union, some...

  • LONDON, July 15- As hedge fund manager Buford Scott sat at home, watching the TV in shock as it emerged Britain had voted to leave the European Union, his computer-based trading models were quietly boosting his business by 1.5 percent. Hedge funds on average were down 0.18 percent on the day of June 24, while trend-following machine-based strategies gained 0.71...

  • *Some see risk aversion as investors hedge Turkey exposure. LONDON, July 17- Turkey's failed military coup may prompt some flight to safe-haven assets on Monday but there will only be a more serious longer-term impact for investors if instability persists in the strategically important emerging market. Turkey's government said on Sunday it was in full...