AMD has yet to form a new base. However, watch for the stock to potentially retake a prior buy point of 57.08.
"The grift is on, baby," warned Michael Steele.
Charlton manager Lee Bowyer criticised the club's returning fans after Wednesday night's defeat to MK Dons, accusing them of being quiet and negative. The Addicks were the first club in London to welcome back 2,000 supporters under the country's new coronavirus restrictions, but the visitors ruined the party at The Valley, with Scott Fraser's late goal earning the Dons a deserved 1-0 win. On the eve of their return, Bowyer urged supporters to make "as much noise as humanly possible", but afterwards said he was surprised by the returning fans, many of whom have not been to a game since March.
The singer explained how their home burning down in California wildfires contributed to the end of their marriage.
COVID-19 vaccine roll out and expectations of an American fiscal support package is helping investor sentiment on Thursday.
Dublin, Dec. 03, 2020 (GLOBE NEWSWIRE) -- The "Medical Devices Packaging - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Medical Devices Packaging Market to Reach $39.3 Billion by 2027Amid the COVID-19 crisis, the global market for Medical Devices Packaging estimated at US$28.2 Billion in the year 2020, is projected to reach a revised size of US$39.3 Billion by 2027, growing at a CAGR of 4.9% over the analysis period 2020-2027. Bags and Pouches, one of the segments analyzed in the report, is projected to record a 5.2% CAGR and reach US$18.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Trays segment is readjusted to a revised 4.5% CAGR for the next 7-year period.The U. S. Market is Estimated at $7.6 Billion, While China is Forecast to Grow at 7.5% CAGRThe Medical Devices Packaging market in the U. S. is estimated at US$7.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$8 Billion by the year 2027 trailing a CAGR of 7.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 4.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR.Boxes Segment to Record 5.1% CAGRIn the global Boxes segment, USA, Canada, Japan, China and Europe will drive the 4.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.7 Billion in the year 2020 will reach a projected size of US$2.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.2 Billion by the year 2027, while Latin America will expand at a 6.2% CAGR through the analysis period. The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others: Albea GroupAmcor Ltd.Bemis Co., Inc.Berry Global, Inc.Mitsubishi Chemical Holdings CorporationSteriPack GroupTechnipaq, Inc.WestRock Company Key Topics Covered: I. INTRODUCTION, METHODOLOGY & REPORT SCOPEII. EXECUTIVE SUMMARY1. MARKET OVERVIEW Global Competitor Market SharesMedical Devices Packaging Competitor Market Share Scenario Worldwide (in %): 2019 & 2025Impact of Covid-19 and a Looming Global Recession 2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS4. GLOBAL MARKET PERSPECTIVE Medical Devices Packaging Global Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027Medical Devices Packaging Global Retrospective Market Scenario in US$ Million by Region/Country: 2012-2019Medical Devices Packaging Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027Bags and Pouches (Product) World Market by Region/Country in US$ Million: 2020 to 2027Bags and Pouches (Product) Historic Market Analysis by Region/Country in US$ Million: 2012 to 2019Bags and Pouches (Product) Market Share Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027Trays (Product) Potential Growth Markets Worldwide in US$ Million: 2020 to 2027Trays (Product) Historic Market Perspective by Region/Country in US$ Million: 2012 to 2019Trays (Product) Market Sales Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027Boxes (Product) Geographic Market Spread Worldwide in US$ Million: 2020 to 2027Boxes (Product) Region Wise Breakdown of Global Historic Demand in US$ Million: 2012 to 2019Boxes (Product) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027Other Products (Product) World Market Estimates and Forecasts by Region/Country in US$ Million: 2020 to 2027Other Products (Product) Market Historic Review by Region/Country in US$ Million: 2012 to 2019Other Products (Product) Market Share Breakdown by Region/Country: 2012 VS 2020 VS 2027Equipment & Tools (Application) Worldwide Latent Demand Forecasts in US$ Million by Region/Country: 2020-2027Equipment & Tools (Application) Global Historic Analysis in US$ Million by Region/Country: 2012-2019Equipment & Tools (Application) Distribution of Global Sales by Region/Country: 2012 VS 2020 VS 2027Devices (Application) Sales Estimates and Forecasts in US$ Million by Region/Country for the Years 2020 through 2027Devices (Application) Analysis of Historic Sales in US$ Million by Region/Country for the Years 2012 to 2019Devices (Application) Global Market Share Distribution by Region/Country for 2012, 2020, and 2027IVD (Application) Global Opportunity Assessment in US$ Million by Region/Country: 2020-2027IVD (Application) Historic Sales Analysis in US$ Million by Region/Country: 2012-2019IVD (Application) Percentage Share Breakdown of Global Sales by Region/Country: 2012 VS 2020 VS 2027Implants (Application) Worldwide Sales in US$ Million by Region/Country: 2020-2027Implants (Application) Historic Demand Patterns in US$ Million by Region/Country: 2012-2019Implants (Application) Market Share Shift across Key Geographies: 2012 VS 2020 VS 2027 III. MARKET ANALYSISGEOGRAPHIC MARKET ANALYSIS Market Facts & FiguresMedical Devices Packaging Market Share (in %) by Company: 2019 & 2025Market AnalyticsMedical Devices Packaging Market Estimates and Projections in US$ Million by Product: 2020 to 2027Medical Devices Packaging Market by Product: A Historic Review in US$ Million for 2012-2019Medical Devices Packaging Market Share Breakdown by Product: 2012 VS 2020 VS 2027Medical Devices Packaging Latent Demand Forecasts in US$ Million by Application: 2020 to 2027Medical Devices Packaging Historic Demand Patterns by Application in US$ Million for 2012-2019Medical Devices Packaging Market Share Breakdown by Application: 2012 VS 2020 VS 2027 IV. COMPETITION Total Companies Profiled: 46 For more information about this report visit https://www.researchandmarkets.com/r/5jmrti Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Hockeyroos consider strike action after key players dropped * Georgina Morgan and Rachael Lynch excluded from squad * Emergency meeting of 15 players held at training camp in Perth
(Bloomberg) -- Global stocks paused near all-time highs and Treasuries steadied on Thursday, with a more sober mood reflecting concerns about fragile economic recoveries. The dollar held close to its lowest in more than two years.European stocks opened mixed, with energy shares leading decliners. Swedish miner Boliden AB slid after Goldman Sachs reinstated coverage with a sell recommendation. U.S. equity futures also were flat, after the S&P 500 rose to another record. Investors are focused on whether a Democratic call for immediate stimulus talks will support stocks later on Thursday.The pound fluctuated after France warned it could veto a U.K.-European Union trade deal if it doesn’t like the terms.The pandemic’s relentless spread is tempering the buoyant mood that pushed global stocks to a record monthly gain on vaccine breakthroughs and Joe Biden’s presidential victory. The U.S. saw the deadliest day for Covid-19 fatalities, while Los Angeles ordered residents to stay home and told businesses that require in-person work to cease operations.With growth the overriding concern of central bankers, the recent spike in Treasury yields is also likely to meet resistance as the Federal Reserve puts aside inflation concerns for now, according to economist Ed Yardeni. That will contain the recent selloff in Treasuries and keep 10-year yields anchored below 1%, he said.The U.S. recovery could stall in coming months without more fiscal support, Federal Reserve Bank of Dallas President Robert Kaplan said in an interview on CNBC.Elsewhere, Australia’s 10-year yield climbed through 1%.These are some key events coming up:The U.S. employment report on Friday is expected to show more Americans headed back to work in November, though at a slower pace than October.German factory orders for October are due Friday.Here are some of the main moves in markets:StocksFutures on the S&P 500 Index were little changed at 8:24 a.m. London time.The Stoxx Europe 600 Index was little changed.The MSCI Asia Pacific Index advanced 0.5%.The MSCI Emerging Market Index gained 0.5%.CurrenciesThe Bloomberg Dollar Spot Index fell 0.2%.The euro gained 0.1% to $1.2132.The British pound jumped 0.3% to $1.3404.The onshore yuan was little changed at 6.56 per dollar.The Japanese yen strengthened 0.1% to 104.32 per dollar.BondsThe yield on 10-year Treasuries gained less than one basis point to 0.94%.The yield on two-year Treasuries increased less than one basis point to 0.16%.Germany’s 10-year yield fell one basis point to -0.53%.Japan’s 10-year yield was unchanged at 0.026%.Britain’s 10-year yield fell one basis point to 0.348%.CommoditiesWest Texas Intermediate crude climbed 0.1% to $45.31 a barrel.Brent crude increased 0.3% to $48.38 a barrel.Gold strengthened 0.4% to $1,839.33 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Apple Music has revealed its most popular songs streamed in the UK this year, with Australian singer Tones And I topping the list with viral smash Dance Monkey. Canadian superstar The Weeknd took second place with Blinding Lights while Stormzy's collaboration with Ed Sheeran and Burna Boy, Own It, was third, according to the technology giant. SAINt JHN's Roses was the fourth most streamed song in the UK this year, Apple said, ahead of Dua Lipa in fifth with Don't Start Now.
With Covid bringing fewer opportunities to meet people IRL, dating apps are having their biggest boom yet. Here are the best to try out
All the brands and businesses involved in Evening Standard’s Shop London campaign
Hungary reported 182 new COVID-19 deaths on Thursday, by far the highest daily toll since the start of the coronavirus pandemic, government data showed. As of Wednesday, Hungary ran the European Union's fifth-highest death rate per 100,000 people over a two-week period based on data from the European Centre for Disease Prevention and Control. Prime Minister Viktor Orban's government imposed a partial lockdown three weeks ago to slow the spread of the virus, including a 1900 GMT curfew and closing secondary schools.
(Bloomberg) -- The Trump administration banned cotton imports from a military-linked Chinese firm it accuses of relying on “slave labor,” as the U.S. seeks to ramp up economic pressure on Beijing over its treatment of Muslim ethnic minority groups.The U.S. Department of Homeland Security said Wednesday that customs officers at American ports would impound “shipments containing cotton and cotton products originating” from the Xinjiang Production and Construction Corps., one of China’s largest producers. The organization -- set up by the Communist Party more than 60 years ago to help develop the far western region of Xinjiang -- was previously hit by Treasury Department sanctions barring it from transactions with American companies and citizens.“The human rights abuses taking place at the hand of the Chinese Communist government will not be tolerated by President Trump and the American people,” DHS Acting Deputy Secretary Ken Cuccinelli said in a statement. U.S. businesses shouldn’t be allowed to “profit from slave labor” he said, adding that “‘Made in China’ is not just a country of origin, it is a warning label.”The Trump administration and other critics of Beijing have targeted cotton from China, which supplies about one-third of U.S. apparel, as a way to increase pressure over the mass detention of Turkic-speaking ethnic Uighurs. Xinjiang produces more than 80% of China’s cotton, much of it from XPCC.Who Are the Uighurs and Why Is China Locking Them Up?: QuickTakeThe U.S.’s action could potentially affect clothing exports from other Asian producers like Bangladesh, Cambodia and Vietnam, if they contain cotton from China, according to Sheng Lu, an associate professor in the Department of Fashion & Apparel Studies at the University of Delaware. “Cotton made by XPCC are used by garment factories throughout China and exported to other apparel producing countries,” he said.The U.S. imported about $11 billion in cotton textile and apparel products from China in 2019 and could target a much broader array of products, depending on how U.S. Customs enforces the order. The measure also sends a strong signal that the issue of forced labor in Xinjiang isn’t over yet and there could be other actions in the future, Lu said.Chinese Foreign Ministry spokeswoman Hua Chunying said Thursday that the restrictions were against international trade rules and would end up hurting consumers in the U.S. and workers in Xinjiang. “By doing so they are depriving the people in Xinjiang of their right to create a better life through work,” Hua told news briefing in Beijing.Detention FacilitiesThe Trump administration has already sanctioned scores of Chinese companies and Xinjiang party chief Chen Quanguo over their ties to a security state that has detained between tens of thousands and “upwards of 1 million” Uighurs, according to a United Nations’ assessment. China has continued to expand its detention facilities in the region, the Australian Strategic Policy Institute said in September report based on satellite imagery, government documents, media reports and witness accounts.China defends the camps as “vocational education centers” intended to “purge ideological diseases,” including terrorism and religious extremism. Authorities dispute outside population estimates of the camps, without providing figures of their own. The facilities were built after a spate of deadly attacks involving Uighurs in 2013 and 2014, prompting President Xi Jinping to order authorities to “strike first” against Islamist extremism.Still, the latest measure stopped short of banning all cotton from Xinjiang, as Cuccinelli told Bloomberg TV in September the U.S. was considering. The decision whether to take further action may be left to the President-elect Joe Biden, who has labeled China’s policies regarding the Uighurs as “genocide” and called for an international effort to make a united stand against the campaign.(Updates with Chinese response in seventh paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- All new vehicles sold in Japan by the mid-2030s will be hybrid or electric as the government begins to unveil concrete steps for reaching its goal of becoming carbon neutral by 2050, broadcaster NHK said.Japan’s economy ministry is targeting “100% electrification” over approximately 15 years, a move that would gradually bump gasoline-engine cars out of the new car market, NHK reported, citing unidentified sources.A new vehicle market consisting of only hybrid and electric automobiles would be a significant shift, given they only make up about 29% of Japan’s 5.2 million new motor vehicle registrations, according to Japan’s Automobile Manufacturers Association. While Toyota Motor Corp. popularized hybrid vehicles with the Prius and the country’s automakers are among the world’s top producers in the segment, the domestic market for electrified vehicles has plateaued in recent years. Last year, both plug-in hybrid and EV registrations fell year-on-year, JAMA data show.“If this is indeed a Japan-wide decision and it really happens, it will definitely provide a new demand stream for power and it will be good news for utilities,” said Daine Loh, a power and renewables analyst at Fitch Solutions. On balance however, it’s “unlikely to see electricity consumption rise in the mid-2030s given low real GDP growth rates and an aging population,” Loh said.With its latest plan, Japan joins a slew of other countries seeking to reduce their carbon emissions by moving away from gasoline vehicles over the coming decades. The U.K. said last month it would end the sale of new cars that run only on fossil fuels by 2030. France has also pledged to take new gasoline and diesel-powered vehicles off the market by 2040.Hybrids QuestionPrime Minister Yoshihide Suga unveiled an ambitious goal to decarbonize Japan in his first policy speech to parliament in October, but few details were provided on how the country will achieve the target. Japan’s carbon emissions have been on a downward trend, but they need to fall faster to meet the 2050 goal, according to an analysis from Bloomberg New Energy Finance.Hiroki Aoki, director of the economy ministry’s automotive strategy planning office, said the ministry has not officially released its target relating to Japan’s future new car market. The ministry is still in the planning phase and is aiming to announce an official target by the end of the year.If the government moves forward with its mid-2030s target, “pure gasoline vehicles will likely disappear from Japanese roads by 2050,” said Satoru Yoshida, a commodities analyst at Rakuten Securities Inc. This would lead to further declines in Japan’s gasoline demand, though the extent of that decrease depends on how many hybrid cars, which run partially on gasoline, will be allowed under the new ruling, he added.The government will likely seek to keep hybrid vehicles on the road considering a complete halt in production of gasoline engines would negatively affect small factories and parts-suppliers, Yoshida said. “As long as hybrid vehicles survive, we will have some gasoline demand,” he said.China, FranceElsewhere in Asia, China is poised to give fossil-fuel powered cars more time to co-exist with electric vehicles. The head of a panel advising the government on the matter said in September that the country shouldn’t set a firm timeline for phasing out of cars that run on fossil fuels. The panel proposed a new-energy vehicle target of 15% to 25% for 2025, with this figure rising to 50% to 60% for 2035.About 3.8 million electric vehicles were on the road in China at the end of 2019, and that’s expected to grow to 80 million by 2030. The number of hydrogen cars, meanwhile, is projected to hit 1 million by 2030 from about 6,000 at the end of last year.Singapore plans to phase out fossil-fuel powered cars by 2040, following in the footsteps of European countries such as France and Norway.(Updates with comment from economy ministry in 7th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Dublin, Dec. 03, 2020 (GLOBE NEWSWIRE) -- The "Medical Equipment Maintenance - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Medical Equipment Maintenance Market to Reach $57.6 Billion by 2027Amid the COVID-19 crisis, the global market for Medical Equipment Maintenance estimated at US$31.4 Billion in the year 2020, is projected to reach a revised size of US$57.6 Billion by 2027, growing at a CAGR of 9% over the analysis period 2020-2027. Imaging Equipment, one of the segments analyzed in the report, is projected to record a 9.8% CAGR and reach US$32.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Endoscopic Devices segment is readjusted to a revised 9.3% CAGR for the next 7-year period.The U.S. Market is Estimated at $9.3 Billion, While China is Forecast to Grow at 8.4% CAGRThe Medical Equipment Maintenance market in the U.S. is estimated at US$9.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$10 Billion by the year 2027 trailing a CAGR of 8.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.5% and 7.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.3% CAGR.Surgical Instruments Segment to Record 8% CAGRIn the global Surgical Instruments segment, USA, Canada, Japan, China and Europe will drive the 8.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.6 Billion in the year 2020 will reach a projected size of US$6.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.6 Billion by the year 2027.The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others: Agenor MantenimientosAgfa-Gevaert NVAlthea GroupB. Braun Melsungen AGBCAS Biomedical Services Ltd. (BCAS Biomed)Canon Medical Systems CorporationDragerwerk AG & Co. KGaAGE HealthcareGrupo Empresarial ElectromedicoHitachi Medical CorporationKoninklijke Philips NVMedtronic PLCOlympus CorporationSiemens HealthineersTbs Group S.P.ATechnologie Sanitarie S.P.A. Key Topics Covered: I. INTRODUCTION, METHODOLOGY & REPORT SCOPE II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW Global Competitor Market SharesMedical Equipment Maintenance Competitor Market Share Scenario Worldwide (in %): 2019 & 2025Impact of Covid-19 and a Looming Global Recession 2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS 4. GLOBAL MARKET PERSPECTIVE Medical Equipment Maintenance Global Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027Medical Equipment Maintenance Global Retrospective Market Scenario in US$ Million by Region/Country: 2012-2019Medical Equipment Maintenance Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027Imaging Equipment (Device) World Market by Region/Country in US$ Million: 2020 to 2027Imaging Equipment (Device) Historic Market Analysis by Region/Country in US$ Million: 2012 to 2019Imaging Equipment (Device) Market Share Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027Endoscopic Devices (Device) Potential Growth Markets Worldwide in US$ Million: 2020 to 2027Endoscopic Devices (Device) Historic Market Perspective by Region/Country in US$ Million: 2012 to 2019Endoscopic Devices (Device) Market Sales Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027Surgical Instruments (Device) Geographic Market Spread Worldwide in US$ Million: 2020 to 2027Surgical Instruments (Device) Region Wise Breakdown of Global Historic Demand in US$ Million: 2012 to 2019Surgical Instruments (Device) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027Electromedical Equipment (Device) World Market Estimates and Forecasts by Region/Country in US$ Million: 2020 to 2027Electromedical Equipment (Device) Market Historic Review by Region/Country in US$ Million: 2012 to 2019Electromedical Equipment (Device) Market Share Breakdown by Region/Country: 2012 VS 2020 VS 2027Other Devices (Device) World Market by Region/Country in US$ Million: 2020 to 2027Other Devices (Device) Historic Market Analysis by Region/Country in US$ Million: 2012 to 2019Other Devices (Device) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027 III. MARKET ANALYSIS GEOGRAPHIC MARKET ANALYSIS Market Facts & FiguresUS Medical Equipment Maintenance Market Share (in %) by Company: 2019 & 2025Market AnalyticsMedical Equipment Maintenance Market Estimates and Projections in US$ Million by Device: 2020 to 2027Medical Equipment Maintenance Market by Device: A Historic Review in US$ Million for 2012-2019Medical Equipment Maintenance Market Share Breakdown by Device: 2012 VS 2020 VS 2027 IV. COMPETITION Total Companies Profiled: 42 For more information about this report visit https://www.researchandmarkets.com/r/kww7gz Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
The Noodles Market will grow by USD 10.85 bn during 2020-2024
‘Only then can the winning candidate be accepted as legitimate’
The singer has shared more details about their split
China has pledged that it would be sharing its COVID-19 vaccines with other countries, especially those with which it has close ties. While the country is not ready to deploy its vaccines internationally, it is gearing up the infrastructure for mass distribution. This week, Alibaba announced that it has struck a partnership with Ethiopian Airlines to introduce a cold chain capable of transporting temperature-sensitive medicines from China to the rest of the world.
(Bloomberg) -- While the pandemic nearly wiped out equity buybacks over the summer, a reawakening in recent months bodes well for European investors starved of returns.After buybacks in the blue-chip Euro Stoxx 50 Index slumped about 95% in the summer months compared to last year, October marked an increase from 2019, according to data compiled by Bloomberg. November’s tally was down 17%, but still at comparable levels to the prior month. That, along with with the gradual return of halted dividends, indicates an uptick in shareholder returns as the worst of the pandemic’s impact eases.But while the sums have normalized, the field is somewhat narrow: only eight companies among the 50 in the index have bought back shares since the start of October, including chip-equipment maker ASML Holding NV and grocer Ahold Delhaize NV. That may signal a need for more stock-picking in the post-pandemic world.“Companies were not completely averse to revisiting their buyback policies, though fewer in number than the firms with active dividend policy,” Barclays Plc strategists led by Magesh Kumar Chandrasekaran and Emmanuel Cau wrote last month in a note on third-quarter European earnings. They highlighted that “a much larger proportion of companies have reinstated buybacks in Q3.”And while equities have started to price in an economic recovery on the back of progress in coronavirus vaccines, the strength of the buyback resurgence will be tested in the coming months, with the early part of the year tending to be the busiest.Dividends, more popular than buybacks among European firms, have also taken a hit from the pandemic. And while U.S. dividends have been the most resilient in the world, buybacks have borne the brunt of American firms’ cash-preservation moves, analysts at Janus Henderson wrote last month.Return to NormalTo find income amid the misery, JPMorgan Asset Management’s Sam Witherow considers what a complete return-to-normal scenario would mean for each stock.The co-manager of JPMorgan’s Global Dividend and Global Equity Income funds says he looks for valuations that have been most distorted by Covid-19. He is overweight on Europe, where “valuations don’t reflect the dividend recovery outlook,” he said in an interview.“We’re all going to be ordering our favorite drinks at our favorite bars. Valuations don’t reflect that.”\-- Sam Witherow, JPMAM portfolio managerIndustries that were previously deemed to be safe dividend payers have suffered because of the unique nature of the current crisis and its regulatory consequences. While banks and energy companies were dethroned early on amid an oil slump and central banks’ directives to shore up capital, the fallout of upended consumer behavior is also becoming clearer.While European banks are unlikely to pay dividends before the second half of 2021, their excess capital holds the potential for upgrades on earnings per share from buybacks, restructuring or mergers and acquisitions, RBC Capital Markets LLC analysts wrote in a note last month.The derivatives market is even more pessimistic. Euro Stoxx 50 dividend futures expiring in December 2021 and 2022 both remain about 19% below analysts’ dividend-per-share expectations. Despite the positive vaccine newsflow, the futures trade below their June levels, while the index itself has risen about 9% in the second half.Dividends should benefit from positive earnings and payout revisions in 2021, with dividend strips having been an attractive equity replacement strategy since 2005, Goldman Sachs Group Inc. strategists including Christian Mueller-Glissmann wrote in a report on Dec. 1.“We just have to re-tune our brains to go back to what life was like before Covid,” JPMorgan’s Witherow said. “Because that’s the reality we’re going to end up in for most industries.”(Adds chart on S&P 500 Buyback Index’s performance relative to the benchmark. An earlier version of this story was corrected to say Goldman notes the use of dividend strips as an attractive equity replament strategy, not dividend stripping.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Wind and rain lashed the Eco Beach Resort in Broome, Western Australia, on December 3, footage shared by Facebook user Jordan Webb shows.The Bureau of Meteorology in Western Australia said severe storms were sweeping through the Broome area on Thursday. Credit: Jordan Webb via Storyful