TotalEnergies Hit With $48M Fine For Market Manipulation
Portfolio Pulse from Lekha Gupta
TotalEnergies SE (NYSE:TTE) has been fined $48 million by the CFTC for market manipulation involving EBOB-linked futures contracts. The company's shares are trading lower following the news. Investors can gain exposure to TotalEnergies through ETFs like EIPX and EIPI.
August 28, 2024 | 1:58 pm
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NEUTRAL IMPACT
Investors can gain exposure to TotalEnergies through the First Trust Exchange-Traded Fund VIII FT Energy Income Partners Enhanced Income ETF (EIPI).
EIPI provides exposure to TotalEnergies, but the direct impact of the fine on the ETF is less pronounced compared to the direct impact on TTE.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Investors can gain exposure to TotalEnergies through the First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF (EIPX).
EIPX provides exposure to TotalEnergies, but the direct impact of the fine on the ETF is less pronounced compared to the direct impact on TTE.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
TotalEnergies SE has been fined $48 million by the CFTC for attempting to manipulate EBOB-linked futures contracts. This legal issue has led to a decline in the company's stock price.
The $48 million fine and the accusation of market manipulation are significant legal issues that negatively impact investor sentiment, leading to a decline in TTE's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100