Download PDF Introduction On September 10th, Italy’s UniCredit SpA [ETR: CRIN] has acquired a total 9% stake in the German Commerzbank AG [FWB: CBK], half of it directly off the hands of the German finance agency. About a week later the stake was increased to 21%, the majority of it Read more…
Market Recap 05-03-2017 United States Despite experiencing a downward correction towards the closing of the week, US equity indices reached new record levels. The Dow Jones Industrial Average reached a new record level by breaching the 21.000 mark. On Wednesday, it peaked at 21.115, to close the week at 21.005, Read more…
Introduction The issue of the Non-Performing Loans (NPLs, from now on) has been long debated over the last few weeks and a new system has been designed with the purpose of creating a market for these troubled assets, which at the moment are still occupying the balance sheets of most Read more…
Mondelez International; market cap as of 11/03/2016: $66.46bn Introduction Lavazza, the leading company in the Italian coffee market, has agreed to buy the French brand Carte Noire for €700m in order to pursue its international expansion. This deal is a result of the EU regulators’ decision according to which the Read more…
Introduction Markets all around the world have been characterized by high volatility and unsatisfying returns in recent weeks, primarily because of the dramatic drop in oil prices and the alarming data on China’s growth, which has failed to meet analysts’ expectations for the fourth quarter of 2015 by about one Read more…
[edmc id= 3343]Download here the Weekly Market Brief[/edmc] United States US economic data came in mixed, giving supple reason for the volatility seen in financial markets. The S&P 500 is trading near 2014 lows, due to intense dollar weakness on the back of the futures market pricing in almost 0% chance Read more…
UniCredit SpA; Market Cap (as of 03/10/2014): €35.45bn Santander SA; Market Cap (as of 03/10/2014): €87.68bn On September 22, UniCredit, the largest Italian bank by assets, and Santander, the largest bank in the Eurozone by market value, are in talks to merge their asset management units to create a European Read more…
Lately, there has been increasing speculation regarding the results of the AQR (Asset Quality Review), which will be published by the ECB in about a month time. The AQR is a central part of the “comprehensive assessment” investigation that the ECB is leading on European banks balance sheets. Working in Read more…
When we analysed luxury stocks, we stressed that the industry has faced a downturn, probably due to a kind of sector rotation. The same phenomenon has affected European banks and utilities in the opposite way. In this article, we focus on banks, proposing some ideas on how to trade them. Read more…
BNP Paribas Market Cap (as of 07/12/13): €65.77bn Rabobank Market Cap (as of 07/12/13): N/A (not listed) BGZ Market Cap (as of 07/12/13): €927.48mln Back in 2011, the sovereign-debt crisis that hit Europe caused U.S. investors to cut back on lending to European banks. France’s BNP Paribas struggled at first Read more…
AGL Market Cap: 1.6 bn WDF Market Cap: 2.0 bn On the 1st of October 2013, Autogrill S.p.A. completed the spin-off of Travel Retail & Duty Free (TR&DF) that is now controlled by World Duty Free S.p.A. WDF started to trade at a price of €7.13 with AGL trading at Read more…
TNK-BP Energy Group Inc. Enterprise Value: $55.7 bn Rosneft Market Cap (as of 22/03/13) : $81.60bn British Petroleum Market Cap (as of 22/03/13) : $133.37bn Deal type: Acquisition increase from 50% to 100% all-cash Rosneft, the Russian state oil giant completed on the 21st of March the acquisition of the Read more…