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Bill Ackman tries again with plan for IPO of Pershing Square and a new fund12:54 Hedge fund manager Bill Ackman is again trying to take his fund management company public alongside the launch of a new fund. Saudi Aramco promises full production can be restored within days if Strait of Hormuz is reopened12:19 Aramco’s CEO warns of “catastrophic consequences” for the oil market if the effective closure of the Straits Of Hormuz were to remain for an extended period. He was unenthusiastic about prospects for the U.S. Navy escorting tankers in transit. Return to the 2022 stock-market playbook as Iran conflict drags on, say these strategists12:19 Barclays says the chasm between winning and losing stocks in 2022 when Russia invaded Ukraine was huge. Here are their style picks. Beware the risk of a scorched-earth strategy from Iran, say Bank of America strategists12:19 Bank of America’s equity-derivatives strategists, led by Nitin Saksena, say it’s too early to celebrate. Oil futures slide 8% as energy ministers set to meet on emergency reserves11:45 Oil futures took another swift dive on Tuesday as world leaders consider releasing emergency supplies as the Iran conflict stretched into an eleventh day. Ozempic maker Novo Nordisk gets another downgrade. The end’s in sight for its duopoly status, says TD Cowen.11:11 Novo Nordisk on Tuesday received a broker downgrade, with the analysts arguing that its status as a duopoly in both diabetes and weight loss are under threat. European bonds join Treasury rally as lower oil prices ease inflation fears10:37 Benchmark Treasury yields are hovering near the middle of their months-long trading range as fears fade of an inflation shock caused by surging oil prices. |