1. Homepage
  2. Indexes
  3. Switzerland
  4. Switzerland
  5. EURO STOXX 50
  6. News
  7. Summary


Delayed Switzerland  -  11:50 2022-08-05 am EDT
3725.39 PTS   -0.78%
After hours
3725.39 PTS
08/05EUROPE : European shares steady ahead of U.S. jobs data
08/04EUROPE : Robust earnings support European shares; eyes on BoE rate decision
08/03EUROPE : European shares slip ahead of economic data; Avast soars
SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

Bridgewater bets $6.7 billion against European stocks

06/16/2022 | 01:23pm EDT
A DAX logo is pictured at the trading floor of the stock exchange in Frankfurt

NEW YORK (Reuters) - Bridgewater Associates has placed at least $6.7 billion in bets against European stocks, according to data group Breakout Point, in a sign that the hedge fund firm may be pessimistic about companies on the continent.

Using Bridgewater's public disclosures, Breakout Point calculated that the Connecticut-based fund has bet against 21 European companies so far this week, in sectors ranging from finance to energy. Among its biggest short bets are semiconductor-equipment supplier ASML Holding NV ($1 billion), energy company TotalEnergies SE ($705 million) and drugmaker Sanofi SA ($646 million).

Banco Santander SA, BNP Paribas SA and Banco Bilbao Vizcaya Argentaria SA and Intesa Sanpaolo SpA are also in the list of Bridgewater's short positions, as well as insurance companies Allianz SE, ING Groep NV and AXA SA, according to Bridgewater.

"When it comes to magnitude of short-selling, we don't recall any other money manager coming close to this, except for Bridgewater itself," said Breakout Point, adding that the hedge fund founded by billionaire Ray Dalio had similar bets back in first quarter of 2018 and 2020.

Breakout Point used public disclosures to make calculations about Bridgewater short positions. Under European regulation, funds have to disclose bets over 0.5% short interest, which means Bridgewater's bets against European stocks could be bigger.

It is not clear, however, if those positions are a hedge against other bets. Bridgewater, which manages $150 billion in assets, did not immediately comment on the matter.

Bridgewater's bets become public in a week when central banks across Europe and in the United States raised interest rates to fight inflation, in a move that could tip economies into recession.

Newspaper Financial Times first reported on Bridgewater's bets against shares in European companies.

(Reporting by Carolina Mandl; Editing by Lisa Shumaker)

By Carolina Mandl

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALLIANZ SE -1.57% 176.64 Delayed Quote.-14.93%
ASML HOLDING N.V. -2.92% 559.4 Real-time Quote.-20.84%
AXA 1.47% 23.48 Real-time Quote.-10.33%
BANCO SANTANDER, S.A. 1.69% 2.501 Delayed Quote.-14.95%
BBVA 0.25% 4.621 Delayed Quote.-11.98%
BNP PARIBAS 1.06% 48.84 Real-time Quote.-19.63%
EURO STOXX 50 -0.78% 3725.39 Delayed Quote.-13.33%
ING GROEP N.V. 1.58% 9.461 Real-time Quote.-22.72%
INTESA SANPAOLO S.P.A. 1.74% 1.814 Delayed Quote.-20.23%
SANOFI 1.22% 97.51 Real-time Quote.10.08%
TOTALENERGIES SE 0.51% 48.89 Real-time Quote.9.55%
All news about EURO STOXX 50
08/05EUROPE : European shares steady ahead of U.S. jobs data
08/04EUROPE : Robust earnings support European shares; eyes on BoE rate decision
08/03EUROPE : European shares slip ahead of economic data; Avast soars
08/02EUROPE : Recession fears hit European shares; Sino-U.S. tensions weigh
08/01EUROPE : European shares flat as recession fears offset earnings boost; PMI data awaited
07/29EUROPE : European shares climb, set for best month since Nov 2020 on earnings cheer
07/28EUROPE : Upbeat earnings, Fed comments lift European shares to 7-week high
07/28Asia shares make the most of Fed messaging, dollar slips on yen
07/27Shares, bonds hear what they want to hear in Fed messaging
07/27EUROPE : Strong results boost European shares ahead of Fed meeting; LVMH slides
More news
News of the index components EURO STOXX 50
08/05U.S. FDA Approves Bayer's Additional Indication of NUBEQA (darolutamide) in Combination..
08/05STELLANTIS N : Income Statement by activity - Form 6-K
08/05LVMH : Receives a Buy rating from Credit Suisse
08/05KERING : Credit Suisse reiterates its Buy rating
08/05VOLKSWAGEN VORZÜGE : Receives a Buy rating from Goldman Sachs
08/05DEUTSCHE POST AG : Gets a Buy rating from Goldman Sachs
08/05ALLIANZ SE : JP Morgan reiterates its Neutral rating
More news
Duration : Period :
EURO STOXX 50 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EURO STOXX 50
Short TermMid-TermLong Term
Rankings EURO STOXX 50
DEUTSCHE POST AG 41.755 Delayed Quote.4.56%
INTESA SANPAOLO S.P.A. 1.814 Delayed Quote.1.74%
BANCO SANTANDER, S.A. 2.501 Delayed Quote.1.69%
ING GROEP N.V. 9.461 Real-time Quote.1.58%
AXA 23.48 Real-time Quote.1.47%
HERMÈS INTERNATIONAL 1348 Real-time Quote.-2.53%
ASML HOLDING N.V. 559.4 Real-time Quote.-2.92%
ADYEN N.V. 1747.8 Real-time Quote.-3.22%
INFINEON TECHNOLOGIES AG 27.56 Delayed Quote.-3.40%
BAYER AG 53.28 Delayed Quote.-6.98%
Heatmap :