Hedge funds cut NFLX, keep big bets on MSFT, AMZN, add NVDA
Investing.com -- After ending last week with gains, British stocks opened higher on Monday as U.S. officials said over the weekend that smartphones and other electronic devices were temporarily exempted from tariffs, even though uncertainty persists.
As of 0710 GMT, the blue-chip index FTSE 100 gained 1.5% and the midcap indexFTSE Mid-Cap 250 rose by 1.3%. The British pound rose 0.7% against the dollar to 1.31.
Meanwhile, DAX index in Germany gained by 2.2%, the CAC 40 in France also rose by 2%.
Ashmore slips after trading update
Ashmore Group Plc (LON:ASHM) shares dropped 5.2% after it announced on Monday that its third-quarter assets under management declined by US$2.6 billion over the period.
The asset manager also noted that despite rising market volatility from the ongoing trade tensions, the resilience of emerging markets remains evident in key index performance.
"Since the quarter end, market volatility has heightened due to increased tariffs and changes to terms of global trade. While this creates uncertainty and a risk-off response from certain investors, it is notable that the diversity and resilience of Emerging Markets is reflected in performance of the main indices," the company said in a press release.
U.K. equities upgraded
Citi raised its rating on U.K. equities to Overweight on Monday, highlighting attractive valuations and the market’s defensive qualities, which could offer support amid ongoing volatility.
The bank also reaffirmed its Overweight view on continental European stocks, citing the boost from fiscal stimulus and the likelihood of additional ECB rate cuts.
Barclays (LON:BARC) reveals top U.K. stock picks for Q2
Barclays unveiled its top U.K. stock picks for Q2 2025 on Monday, giving Overweight ratings to six names including AstraZeneca PLC (ST:AZN), Lloyds Banking Group PLC (LON:LLOY), and Unilever PLC (LON:ULVR).
It rated International Consolidated Airlines Group (LON:ICAG) S.A. (BME:ICAG) and BT Group PLC (LON:BT) as Underweight, citing an average downside of 12% to its targets.
Key economic data
Markets will be watching closely as several important data releases are due this week, including the UK labor market report and CPI inflation figures.
In Europe, attention is firmly fixed on the upcoming European Central Bank meeting this week.