Womenomics: Firms with female execs perform better, study finds

An analysis by Goldman Sachs found firms that have more women in senior positions as managers or on their boards outperform in their sectors [FILE: …

Companies with a higher presence of female executives have historically rewarded their equity investors with better performance, said Goldman Sachs Group Inc. strategists as they unveiled a basket of European firms that employ an elevated number of women.

“Over more or less any period since the global financial crisis, having more women in senior positions as managers or on the board is associated with company outperformance relative to the sector,” the strategists led by Sharon Bell wrote in a note on Tuesday. They added that this doesn’t apply to all industries and that academic research isn’t yet conclusive on this trend.

Goldman analysts rolled out a new basket of European companies with the most women at all levels, called Womenomics (GSSTWOMN Index), which includes firms such as LVMH Moet Hennessy Louis Vuitton SE, Swedbank AB, Nestle SA and AstraZeneca Plc. French and Nordic companies dominate the list, said the strategists, as France has a quota system for female board members while the Nordic region has historically had higher female labor participation.

Europe is beating the U.S. in its push to make women a more equal part of the workforce, and although the pay gap between men and women remains large in the region, it’s smaller in all major countries in Europe than in the U.S., Canada and in Japan, according to Goldman. Workforce participation rates among women in Europe have been rising, while in the U.S. they’ve been flat since the late 1990s, said the strategists.


The research weighs in on the market debate regarding the importance of investing based on environmental, social and governance principles. Europe has been seeing a boom in appetite for such investing this year, with about 50% of all new exchange-traded funds in Europe, the Middle East and Africa this year ESG-related and accumulating about $4.2 billion in assets, according to Citigroup Inc. data. That compares with $3.8 billion for new non-ESG funds.

ESG Flows

Inflows into ESG-focused strategies may have contributed to the better equity performance among companies with higher female presence, Goldman said.

“The price outperformance may be a function of flows into ESG funds targeting diversity metrics, rather than more women producing better outcomes or lower risks,” the strategists said. “But even if this were the case, we continue to believe investors will value higher social and governance scores for companies, so companies that do perform well on these metrics should continue to attract both flows and a premium.”

As a to-be-sure, Goldman strategists also added that they weren’t able to find a correlation between higher female presence and returns on equity. While the outperformance of companies with more women is “pretty robust” for different time periods, in industries like technology it doesn’t work, according to Goldman, as the sector has been slow to improve its diversity.

They also said that academic research hasn’t been conclusive on whether employing more women means better performance.

Goldman’s Europe Womenomics index is down about 7.8% this year, compared with a drop of 11% for the benchmark Stoxx Europe 600 gauge. Over the past five years, the difference is much more significant, with Womenomics up 22% compared with a gain of around 4.2% for the Stoxx 600.

Covid-19 Effect

The companies in the basket have on average 46% female employees, compared with 36% for the benchmark Stoxx Europe 600 Index. In addition the selected companies have 40% female managers and 42% women on the board.

Goldman doesn’t believe females in the workforce will be more adversely affected than men by the fallout from Covid-19. While women are more heavily represented in such industries as travel, media and retail, which have seen strong profit declines during this year’s crisis, more women are employed by the public sector, where salaries have held up better.

Longer-term social changes as a result of the pandemic could also benefit women, according to Goldman.

“There is likely to be less commuting, more online work and working from home, and this should enhance flexibility for both men and women,” the strategists said. “It is the flexibility of both women and men that we think has been a determinant in increasing women’s participation in the workforce in recent years.”

European and Japanese stocks drop due to the virus and fears…

The biggest gainer was NTT DoCoMo, which increased 20.92%, followed by SoftBank Group, which gained 0.5%. NTT DoCoMo posted gains for a …

European stocks fell on Wednesday, with the increase in Corona cases and a heated presidential debate that highlighted the risks of the US elections and led to risk aversion at the end of a turbulent month for financial markets. The pan-European STOXX 600 index fell 0.3%, tracking the drop in US equity futures after a chaotic showdown between US President Donald Trump and his Democratic rival, Joe Biden, prompted investors to be cautious. Meanwhile, Britain announced 7,143 cases of corona on Monday, the highest daily number, while Germany appears to be moving to tighten restrictions to contain Covid-19. This overshadowed the optimism generated by German retail sales growth data and continued strong growth in factory activity in China in September. The decline was led by the travel, entertainment, auto and banking sectors that are sensitive to growth, while the utilities and telecommunications sectors contributed to curbing losses. Shares in Britain-based Compass Group, the world’s largest food supply company, fell 4.6% after it expected in a report that revenues of organic products would fall by about a fifth in 2020. Shares in French company Suez for water and wastewater treatment jumped 7% after its biggest competitor, Volya, raised its bid to buy a 29.9% stake to 18 euros per share from 15.5 euros. In Tokyo, Japanese stocks fell on Wednesday, tracking a decline in US stocks after a heated debate between US President Donald Trump and his Democratic rival, Joe Biden, which heightened concerns about an inconclusive election result. The Nikkei index fell 1.5 percent to 23,185.12 points, down from a seven-month peak it reached in the previous session. The broader Topix index closed 1.97 percent down to 1625.49 points. The two candidates clashed over Trump’s handling of the coronavirus pandemic, the economy, and the fairness of the upcoming elections. Dealers and analysts said that none of the candidates achieved an edge in the debate before the elections, which may not produce a clear winner. “In fact, the uncertainty about the elections has increased,” said Daegu Aoki of UBS Securities. The weakest performance on the Topix index was for Mitsubishi UFJ Financial Group, which fell 4.59%, followed by Mizhou Financial Group, which lost 3.78%. The biggest gainer was NTT DoCoMo, which increased 20.92%, followed by SoftBank Group, which gained 0.5%. NTT DoCoMo posted gains for a second day as the parent company sought to cancel the listing of the unit’s shares. (Agencies)

European Gains Fizzle Out After Weak US Data on Volatile Day

Among notable movers, Aveva Group Plc jumped 7.3% after agreeing to buy SoftBank Group Corp.-backed Osisoft in a $5 billion deal.
This content was published on August 25, 2020 – 16:12

(Bloomberg) — European stocks reversed gains in afternoon trading, with energy and mining shares leading losses, after U.S. consumer confidence data for August disappointed the market.

The Stoxx Europe 600 Index closed down 0.3% in London after gaining as much as 0.9% earlier as the U.S. and China reaffirmed their commitment to the phase-one trade deal in a biannual review. Oil stocks and miners each fell 1.3% or more, while travel and leisure shares rose the most among industry groups.

European stocks have been largely rangebound since early June, after a sharp rebound from the sell-off through March. Trade tensions and worries about rising coronavirus cases have tempered optimism about an economic recovery. The Stoxx 600 on Tuesday once again tested its 200-day moving average, which it has struggled to clear decisively since July.

The Stoxx 600 Chemicals Index briefly rose to an all-time high, erasing its pandemic-spurred losses, before turning lower in the afternoon.

Among notable movers, Aveva Group Plc jumped 7.3% after agreeing to buy SoftBank Group Corp.-backed Osisoft in a $5 billion deal.

©2020 Bloomberg L.P.

Stock Market Live Updates 25/08 – Cineworld Share Price Climbs

Next Fifteen Communications +17%. DFS Furniture +15%. Arrow Global +14%. Gapwaves +9%. Weng Fine Art +9%. Cineworld +6% …

As it happens:


European Equities Close

FTSE 100 -1.11% 6,037

DAX -0.04% 13,060

EURO STOXX 50 -0.02% 3,331

European indexes give up their earlier gains and the majority finish down for the day.


DraftKings Stock


Shares of DraftKings are up 9.47% at $39.20.

Yet to see any news on why it has jumped.


US Equities

Dow Jones +0.04% 28,319

S&P 500 +0.05% 3,433

Nasdaq -0.23% 11,353


Urban One (UONE)


Shares of multimedia company Urban One have soared premarket on increasing volume.

It is currently trading 62% higher at $6.74 per share. The stock initially saw a surge back in June after BLM protests increased in the US. It had since fallen but is rising once more on the back of renewed protests as media company’s such as Urban One follow the demonstrations.


European Equities Update

FTSE 100 +0.13%

DAX +0.69%

EURO STOXX 50 +0.77%




Apple Plans to start selling online in India next month.


European Stock Gainers

Next Fifteen Communications +17%

DFS Furniture +15%

Arrow Global +14%

Gapwaves +9%

Weng Fine Art +9%

Cineworld +6%


Exxon – Dow Jones

Here is more on the Exxon and Dow story…

  • In total three stocks were swapped for the second time in a decade.
  • Salesforce.com will replace Exxon Mobil, Amgen will replace Pfizer, and Honeywell International will replace Raytheon Technologies.
  • S&P Dow said the changes were “prompted” by Apple’s 4-for-1 stock split which will help to offset the reduction in the indexes tech-sector weighting.


DFS Furniture Share Price

DFS shares have surged after the company said they have seen strong demand for sofas since the lockdown has eased.

DFS shares are currently trading at 172.6p, up 15.07%.


European Equities

FTSE 100 +0.62% 6,142

DAX +0.75% 13,164

EURO STOXX 50 +0.95% 3,363


Morning Preview

Good morning people…

  • Asian markets were mostly higher overnight with the Nikkei closing at +1.35%. The ASX closed up by +0.52%.
  • Exxon has been kicked out of the Dow Jones Industrial Average after nearly 100 years to make way for Salesforce.com
  • US and China trade representatives spoke yesterday regarding the phase 1 trade deal implementation. Both sides see progress.
  • The US dollar is down slightly against most other major pairs this morning, with the EURUSD up 0.14% and the GBPUSD up 0.17%.
  • On today’s calendar, we have already seen German GDP come in slightly higher than expected. US consumer confidence data is to be released at 3 pm.
  • Names on the earnings calendar include Best Buy, Salesforce, HP, Scotiabank, Urban Outfitters, Medtronic, and Heico.

Live Stock Market Updates 29/07 – Cineworld Share Price Falls 11%

Cineworld shares are down over 11% so far today. It could be down to continued coronavirus spikes in the US delaying theatre openings. 08:28

As it happens:


US Markets Close

Dow Jones +0.62 % 26,552

S&P 500 +1.25% 3,258

Nasdaq +1.35% 10,542

A strong day for US equities.

That’s all from me for today, see you tomorrow!


Electric Vehicle Stocks

A couple of the other electric vehicle manufacturers are moving higher as well…

Solo Electrameccanica is up 16%, while Ayro has had a small move of 4.41% higher.


Kandi Technologies $KNDI

Kandi Technologies stock has catapulted higher following a press release from the company that highlighted its formal launch of electric vehicles on the US market.

Kandi’s share price is up 138.5% at $9.23 per share.


US Stocks Update

A mostly green day for US stocks!

Via Finviz.com


Fed Chair Powell

Fed Chair Powell has said that household spending appears to have recovered about half of earlier decline

He also said that the coronavirus pandemic has left a ‘significant imprint’ on inflation.


Fed Interest Rates

The Fed has kept interest rates at 0.25%…

For anyone interested in the full statement, here it is:


Blink Charging Stock


Blink Charging Co is up 37.74% so far today after the company announced it will collaborate with EnerSys to develop ‘high power inductive/wireless and enhanced DC fast charging systems with energy storage options for the automotive market.’


Fed Interest Rate Reminder

Just a reminder to all that there will be a Fed interest rate decision at 19:00 BST, and press conference at 19:30 BST.


Boeing Share Price

Boeing shares are down -4.18% after the company reported a lower than expected Q2 EPS and sales results.

Boeing also announced it is cutting production on the 787 and 777 programs along with ending its 747 jet production.

Currently trading at $163


Tupperware Brands Stock

Tupperware Brands stock is trading 54% higher after the company reported better than expected Q2 EPS and sales results.

Currently trading at $15


Eastman Kodak Shares

Just a small update on Eastman Kodak $KODK…

They are now trading up 301.76%, down about 40% from the highs of the day.

Just a small move then!


Penn Stock

$PENN stock has had a climb here. Currently up 9.01% at $36.19.

DDTG Global will be happy!


US Equities First Look

It’s a positive start for US equities…

Dow Jones +0.32% 26,464

S&P 500 +0.66% 3,239

Nasdaq +0.98% 10,503


European Equities Lunchtime Look

I’m late with this one, I know, sorry…

FTSE 100 +0.31% 6,148

DAX -0.01% 12,834

EURO STOXX 50 +0.14% 3,308

DAX is letting the team down!

In reality, it’s mixed across Europe, with the IBEX 35 and FTSE MIB also down so far today.


Shopify Shares Trade Higher Premarket

Shopify’s share price has surged 8% premarket after the company reported better than expected Q2 EPS and sales results.


Eastman Kodak Shares

Eastman Kodak shares are trading higher premarket following comments from US President Donald Trump that the US had reached a “historic” deal with the company.


European Market Movers

I.M.A +12%

Loopup Group +10%

Sopra Steria +9%

Hargreaves Services +8%

Cineworld -11%


Cineworld Share Price

Cineworld shares are down over 11% so far today.

It could be down to continued coronavirus spikes in the US delaying theatre openings.


European Equities First Look

FTSE 100 -0.18% 6,118

DAX -0.23% 12,805

EURO STOXX 50 -0.18% 3,297


Morning Market Preview

Good morning everyone…

  • Asia-Pac indices traded very similarly to the previous session with the ASX and Nikkei closing down, while Chinese indices and Hong Kong’s Hang Seng index look as though they will close higher.
  • In FX markets there has been little movement, although the USD has lost some ground.
  • Stock market news site Benzinga is claiming that there was some suspicious trading activity prior to the announcement of the government loan given to Kodak. Monday saw its stock rise 25% before the announcement on Tuesday when it then saw an over 200% move.
  • The US stimulus bill is still being discussed, although there are reports that republicans are deeply divided over the package.
  • Looking at today’s calendar we have the Fed’s interest rate decision and press conference after, and the US pending home sales.
  • On the earnings calendar today, we have names such as Boeing, Facebook, Qualcomm, Bunge, ConMed, and General Motors