Sell side Archive

Jun 14, 2019
Citi warns of ‘full-scale bear market’ in the S&P 500
Concerns about US tariffs on Mexico may have waned but there are enough problematic US trade scenarios for Citi strategists to be concerned about the impact on the financial markets. ‘Tensions are mounting and the outcome looks more likely to be driven by politics than economics,’ writes Citi’s global macro strategy team, led by Mark Schofield, in a note to clients this week. US President Donald Trump ‘is likely to continue to take a hard line,’ warns the ...
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Jun 07, 2019
Hong Kong slips in IPO rankings as US exchanges benefit from Uber and Lyft
The NYSE has been ranked the top exchange for IPO proceeds in the first five months of the year, followed by Nasdaq and knocking Hong Kong into third place, according to data from Refinitiv. The NYSE raised around $15.9 bn – 28 percent of the global IPO market – between January 1 and June 6, helped by Uber’s $8.1 bn listing in May, the data provider shows. Nasdaq, with listings raising slightly more than $11 bn, also benefitted from the IPO of its own r...
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Jun 04, 2019
How the investment community responded to Brexit
‘There isn’t a return. That bridge has been pulled up.’ That’s how Anne Finucane, Bank of America’s vice chair, described her firm’s relocation of its European headquarters from London to Dublin at a conference earlier this year. Whatever Brexit we end up with – hard, soft or no Brexit at all – the decision of the UK to vote in favor of leaving the EU has led to a permanent redrawing of the financial services map in Europe. Put simply, London is on t...
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Jun 04, 2019
Trade tensions provide opportunities for Chinese listed companies, says CSRC head
The ongoing trade debacle between China and the US presents opportunities to Chinese listed companies, according to Yi Huiman, head of the China Securities Regulatory Commission (CSRC). The trade tensions will force listed companies to ‘strengthen innovation, improve independent research and development capabilities, raise product competitiveness and achieve sustainable development,’ Yi says in a statement reviewing the position of the Chinese capital markets....
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May 29, 2019
Modi victory in India set to give IPO markets a boost
The resounding re-election victory in India of the National Democratic Alliance (NDA) led by Narendra Modi is expected to revive the IPO markets after nearly three quarters of limited activity. So far this year 59 companies, with plans to raise INR530 bn ($7.6 bn), have been approved to launch IPOs by the regulator the Securities and Exchange Board of India, according to data from market data firm Prime Database. But with the on-going political uncertainty p...
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May 22, 2019
Saudi mall operator is first IPO to allow US investment
One of the largest IPOs to come out of Saudi Arabia in the past five years has seen mall operator Arabian Centres become the first to allow US investment under new rules introduced in 2015.  Talked up as possibly the largest IPO to come out of the kingdom since 2014, Arabian Centres debuted at SR26 riyals ($6.93) on the Saudi stock exchange, the Tadawul...
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May 20, 2019
EU faces calls for capital market reform
The European Union is facing calls for Europe-wide capital market reform from Germany, France and the Netherlands as the threat of Brexit makes the issue an ‘urgent strategic issue’, according to a joint letter sent to the EU. Among their requests, the countries call for a new working group to define capital market reform priorities after this week’s European Parliament elections. The letter states: ‘It is critical for the union to bolster its capacit...
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May 16, 2019
Advisory intelligence: A look at Canadian macro issues as Mifid II makes its presence known
Sponsored content Recent years have seen Canadian companies facing a number of macro issues – from the ongoing back and forth on the U.S.-China trade deal, to the discussions around Nafta and how those are impacted by tariff talks – and these have resulted in a 'valuation discount' versus peers in the U.S., explains Prab Sagoo, a Montreal-based associate director at Nasdaq IR Intelligence. 'Over the last few years there has been a subtle shift o...
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