While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
Home Depot shares, which are valued at $228.8 billion, are up more than 21% this year.Retailread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
U.K. Prime Minister Boris Johnson told the EU that a Brexit deal can still be approved by U.K. lawmakers if Brussels agrees to scrapping the contentious Irish "backstop."read more
Baidu posted better-than-expected earnings for the June quarter, swinging back to profit and managing to stabilize its core ad business.Technologyread more
Several big Pimco funds controlled by Ivascyn have reportedly been trimming their bond market positions in the U.K. and Europe.World Marketsread more
While Hong Kong leader Carrie Lam painted a bleak picture of the city's economy, she expressed hope that dialogue with protesters could provide "a way out."China Politicsread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
U.S. President Donald Trump and his former White House communications director Anthony Scaramucci have had a public falling out recently.Politicsread more
The global rally in stocks has made it harder to find value in equities but global strategists at Citi have found what they think are the "seven remaining value trades."
Citi's global strategy team noted that global equities have "rerated" – or changed in value -- by 40 percent over the last two years with the cheapest stocks showing the biggest move. All this makes it harder for global equity investors to find value.
"This has caused a compression of global valuation spreads to the narrowest levels in the last decade. Value has become harder to find across global equity markets," global strategists at Citi said in a note published on Thursday.
(Read more: 'Some pockets of value left' in stocks: Strategist)
"But this does not mean that [value opportunities] have disappeared completely. We can find global regions and sectors that could still offer some potential interest to value investors."
Citi has highlighted the seven value trades left across global equities. It did this by ranking major regions, global sectors and companies according to their trailing price to earnings relative to the global equity benchmark index, the MSCI ACWI.
The seven trades are:
"Our seven global value ideas all trade at a simple PE discount to the global benchmark," Citi stated.
The rally in global equities has in no small part been due to the U.S Federal Reserve's bond-buying program. This has led to a flood of liquidity in equity markets as investors look to stocks, rather than bonds, for higher returns.
To answer concerns that the seven trades were just "value traps" -- stocks which appear to be undervalued but could just as rapidly lose value, particularly once the U.S. central bank starts tapering -- Citi put the trades through three tests, looking at their historical price to earnings ratios (PEs), other valuation measures and fundamental metrics such as earnings momentum, dividend per share (DPS) growth and balance sheet strength.
(Read more: Asia's still cheap—for now: Kate Moore)
In its ranking of the seven value trades, Citi concluded that the three that screened best on all three tests were Financials, Emerging Market Asia and CEEMEA. "The Financials sector passes all the valuation tests and offers decent fundamentals with strong earnings momentum and DPS growth. Within Financials, EM Asia and Continental Europe look strongest against our stress test."
Indeed, while EM Asia scored the highest on fundamentals and also well on other valuation measures (except its lowish dividend yield), CEEMEA "ticks all the boxes on valuation but poor earnings momentum and free cash flow (FCF) margin might make it less attractive," Citi noted.
(Read more: Bull markets don't stop at 'cheap': Josh Brown)
Next in the rankings was the U.K. which Citi said "doesn't look cheap against its history, but ranks well on all other valuation measures. It also enjoys strong DPS growth and healthy balance sheets." The U.K. was followed by the Global Energy [sector] and global mega caps and then Latam.
Latin America was ranked the lowest on Citi's crosschecks, "mainly due to poor fundamentals."
- By CNBC's Holly Ellyatt, follow her on Twitter