|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||13.93 - 14.30|
|52-week range||11.66 - 21.96|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Europe has emerged as a key region for hatching and scaling fintech companies. Dublin-based Fenergo builds solutions for banks and other financial management companies to help with regulatory compliance, customer onboarding and other "lifecycle management" requirements. The funding is coming from two investors: the multinational banking giant ABN AMRO (via its Ventures arm) and DXC Technology, which provides a wide range of IT, systems integration and consulting services to businesses (and thus a key partner for a company like Fenergo).
Two letter bombs exploded on Wednesday at two separate locations in the Netherlands but nobody was hurt in the incidents, which police blamed on an extortionist who had demanded payment in bitcoin. Both explosions were minor, one at an ABN Amro bank mail-sorting office in Amsterdam and the other 225 km (140 miles away) in a mail room of Japanese electronics group Ricoh, police said. "The police believe the most likely scenario is that the letter discovered on Wednesday was one of several letter bombs sent to locations across the country," they said in a statement, referring to the Amsterdam incident.
Souring energy loans eroded ABN Amro's fourth quarter profit growth, it said on Wednesday, prompting the Dutch bank to launch another review of its trade and commodity finance operations. "The offshore sector still gives us a headache, we had a serious and unexpected amount of impairments there," Chief Executive Kees van Dijkhuizen told reporters. Shares in the Dutch bank fell 5.6% by 1005 GMT, the biggest loser by far on Amsterdam's blue-chip AEX index, after ABN said net profits were flat in the last quarter of 2019 at 316 million euros (£265.7 million).
ABN Amro said on Thursday that Robert Swaak, a former chairman of accounting firm PwC in the Netherlands, is to succeed Kees van Dijkhuizen as the Dutch bank's chief executive. Swaak will take over from Van Dijkhuizen at the company's annual meeting April 22, pending regulatory and shareholder approval, the bank said in a statement. Van Dijkhuizen has been ABN's CEO since 2017, and was CFO when the bank returned to the stock market in 2015 after it was nationalised during the 2008 financial crisis.
The Dutch financial regulator said on Thursday it had fined lender ABN Amro 2 million euros (£1.7 million) for failing to inform the market about the imminent departure of its chief executive officer in 2016. Dutch financial daily Het Financieele Dagblad in July 2016 reported that ABN had started to look for a successor for CEO Gerrit Zalm, who was expected to announce his retirement before the end of that year. Financial market regulator AFM said ABN's refusal to disclose its plans after the publication of the article was a "serious and grave" breach of transparency rules, aimed at making sure that all investors are informed about important news at the same time.
Law enforcement officials in Germany raided the Frankfurt offices of ABN Amro on Tuesday, seeking information in connection with a broader investigation into dividend stripping, the bank said. A spokesman for ABN said it was cooperating with the authorities and that German officials had also contacted its head office in Amsterdam for information, but had not raided it. Dividend stripping, known as cum-ex, typically involves cross-border trading of company shares around a syndicate of banks, investors and hedge funds to create the impression of numerous owners, each of whom was entitled to a tax rebate.
Dutch bank ABN Amro said on Wednesday it would not charge negative interest on deposits up to 100,000 euros ($110,200), as it comes under political pressure to shield retail clients from the effects of ultra-low interest rates. European banks are grappling with the consequences of the European Central Bank's September decision to cut its key deposit rate further into negative territory, making it tougher for them to earn money from their traditional lending business. Dutch finance minister Wopke Hoekstra in September said he would talk to banks about the consequences of negative interest rates, but resisted calls by politicians for an outright ban of them on smaller deposits.
It's easy to match the overall market return by buying an index fund. Active investors aim to buy stocks that vastly...
ABN Amro is being investigated for money laundering in a new blow to shares in the Dutch bank, which prosecutors allege failed to report or probe suspicious transactions for years. The Netherlands has been the target of several inquiries into suspected money laundering and investigators last year estimated that around 13 billion euros ($14.2 billion) was laundered each year through the country between 2004 and 2014, a sum equivalent to roughly 2% of Dutch GDP. Dutch prosecutors said in March they were evaluating signs of Dutch bank involvement in a money laundering network which allegedly channelled billions of euros from Russia.
* European stocks recover losses after 3-day rout * FTSE lags on miners, financial services * Investors seek out bargains, but worry about trade spat * Bayer and Lanxess gain after divesting chemical park unit Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: rm://email@example.com A SENSE OF DEJA VU IN STOCK MARKETS (0949 GMT) European markets have lost close to 4.5% since Trump's latest tariff threat and there is a sense of deja vu in this. A quick look at how some sectors performed 6 days after Trump's threat in May versus 4 trading days after the August threat suggests there has been a sharper move this time but in both cases, the same names underperformed markets.
* European stocks recover losses after 3-day rout * FTSE lags on miners, financial services * Investors seek out bargains, but worry about trade spat * Bayer and Lanxess gain after divesting chemical park unit Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: rm://firstname.lastname@example.org MINERS: NEGATIVE CATALYSTS (0856 GMT) Miners are not having a great time of late as escalating trade tensions send shivers through the sector and the industry index is trading at fresh 2019 lows with disappointing results from Glencore being the latest drag to the index, which the only one that's missing out on today's rebound in Europe.
ABN Amro said it faces possible money laundering fines, which combined with a gloomy interest rate outlook overshadowed an unexpected quarterly profit rise, knocking the Dutch bank's shares on Wednesday. The Dutch central bank (DNB) has ordered ABN to review all retail clients in the Netherlands for possible money laundering or other criminal activities, and warned that these investigations could lead to fines for the bank. Banks have been forced to keep better track of client behaviour after Dutch bank ING was forced to pay a record $900 million fine in September for failing to spot criminal activities financed through its accounts.