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Shares open lower. NAB reports cash profit jump of 17pc. US stocks finish at session lows. US regional bank PacWest weighs possible sale. Ackman warns US banking system at risk. European policy decision up next. Follow updates here. ....
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Meta, the owner of Facebook and Instagram, is one of the “world’s best businesses”, according to Forager, and the firm is increasing its weighting while it is out of favour. ....
According to a portfolio manager, the social media platform has been falling short of potential for years while “underserved” riches have been handed to staff via stock-based compensation. Co-po ....
Forager Funds is hoping to make amends for a dismal performance in its global fund over the last six months by seeking bargains in the indiscriminate sell-off in equity markets. ....