|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||23.16 - 23.16|
|52-week range||23.16 - 23.16|
|Beta (3Y monthly)||1.38|
|PE ratio (TTM)||9.51|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.The winner of next month’s U.K. election is increasingly hard to predict. Equities watchers may take some comfort in knowing that historically, it hasn’t really made much difference who was in power.The old adage suggests that the Conservative Party is pro-business and better for markets than the left-of-center and, in this election, socialist-leaning Labour Party. Yet taking real returns, adjusted for inflation, for U.K. equities from 1900 to the present day, Kleinwort Hambros found little difference between the two major parties.Conservative governments have held office for a total of 67 years during that period, delivering a 7.6% real return, according to a recent report from the private bank. Labour has had 37 years in power and returned 7.7%. The remaining years had the Liberal Party in office in the early part of the 20th century, and investors would have lost 0.7% in real terms under their tenure.Ultimately, “the basic inference is that it really doesn’t matter,” who is in Downing Street, said Fahad Kamal, chief market strategist at Kleinwort Hambros.Clearly, there are caveats. This period includes two world wars, market crashes and global geopolitical troubles from the Cuban missile crisis to 9/11. And the correlation between the benchmark FTSE 100 and the S&P 500 as well as the MSCI World has been increasing over the years and is now close to the perfect value of 1, signaling that U.K. equities are much more sensitive to global and U.S. market movements than internal political affairs such as Brexit.As Britain prepares to head for the polls, early data gives the Conservatives a clear lead. But because it’s effectively a second referendum on Brexit, foretelling the impact on equity markets could turn into a fool’s game as sentiment shifts during the campaign.“The outcomes here are very messy” and something of a “a dog’s dinner,” said Nathan Thooft, head of global asset allocation at Manulife Investment Management. “Even if you know what the possibilities are, you don’t know what the probabilities are and furthermore, you don’t know what the market interpretation will be because there are so many moving parts.”To contact the reporters on this story: Sam Unsted in London at email@example.com;Ksenia Galouchko in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Beth Mellor at email@example.com, Jon Menon, Namitha JagadeeshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll apply a basic...
(Bloomberg) -- GFL Environmental Inc. was on track to be one of Canada’s largest public offerings. Instead it became the latest IPO that failed to entice investors.The Vaughan, Ontario-based company scrapped its share sale Tuesday after investors balked at the waste company’s debt load and growth prospects. It had sought to raise as much as $2.1 billion at the top end of its marketed range of $20 and $24 a share. But banks running the IPO only got support for the offering at about $18 a share, according to people familiar with the matter.“At a price below the range, the shareholders decided it wasn’t fair value,” GFL founder and Chief Executive Officer Patrick Dovigi said Tuesday. “We will revisit at a later date.”GFL joins a chorus of companies that have struggled to raise money through IPOs. WeWork and Endeavor Group Holdings Inc. pulled their sales in September while two companies in Hong Kong scrapped sales over the last two weeks. Saudi Aramco’s massive sale has been delayed, and may raise less than originally expected.“Frankly a lot of it has to do with market tone,” said Michele Robitaille, senior portfolio manager at Guardian Capital, told BNN Bloomberg. “Right now, I would say the market has been a little bit more defensive and the appetite for deals with a lot of debt right now is pretty low.”New York ListingGFL’s sale at $18 a share would have raised about $1.6 billion based on the 87.6 million shares being sold, including a portion owned by a current shareholder. That would have given GFL a market value of about $5.7 billion provided the number of shares being issued and outstanding remained the same.The listing in New York and Toronto would have been the largest for a Canadian company since Manulife Financial Corp.’s 1999 IPO that raised $1.7 billion, according to data compiled by Bloomberg. At the top end of the original range, it would have been Canada’s largest IPO.“I went to the roadshow and it was packed,” Greg Taylor, chief investment officer at Purpose Investments, said. “Everyone was there because we haven’t has a good IPO for a while. There’s no question that the valuation was a bit on the high side.”Taylor added the feedback he was getting was that Canadian investors were balking at the price “but the Americans could get their head around the strategy.”GFL, with a fleet of bright green trucks, collects and disposes of solid, liquid and hazardous waste, including organics and recyclables. It has more than 10,000 employees and operations in Canada and 23 U.S. states. It also offers infrastructure services such as soil remediation.Dovigi founded GFL in 2007 and has made over 100 acquisitions since, the largest being the $2.8 billion purchase of Waste Management Industries USA Inc. in 2018. The company has yet to turn a profit and has racked up debt to fuel those purchases -- C$6.5 billion, according to data compiled by Bloomberg.Bloomberg Intelligence analyst Scott Levine, said third-quarter results for waste-management companies “were fair, perhaps that plus the IPO brought investor attention to the group’s high valuations.”A sale of GFL to another waste-management company would be possible, said Levine, adding Republic Services Inc. would be a big enough and it would give the Phoenix-based company an entry into Canada. But it depends on how keen the sponsors are to cash out, he said.“The fact that they were willing to scrap the offering for a couple bucks below the range suggests they are price sensitive,” Levine said.The IPO was being led by JPMorgan Chase & Co., Bank of Montreal, Goldman Sachs Group Inc., Royal Bank of Canada and Bank of Nova Scotia. The shares had been expected to begin trading Thursday.(Updates with additional comments from analysts.)\--With assistance from David Scanlan and Divya Balji.To contact the reporters on this story: Scott Deveau in New York at firstname.lastname@example.org;Crystal Tse in New York at email@example.comTo contact the editors responsible for this story: Liana Baker at firstname.lastname@example.org, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A look at the shareholders of Manulife Financial Corporation (TSE:MFC) can tell us which group is most powerful...
Discovery is targeting 500,000 insurance clients in South Africa to take regular surveys on their mental health in an extension of a programme which rewards "good" behaviours. The South African insurer's model already offers clients insurance discounts and everything from free coffee to cheap flights for buying healthy food, exercising and driving safely. Dinesh Govender, CEO of Vitality, the insurer's behaviour change programme, said the aim, as with its physical fitness scheme, was both to make its clients healthier and over time bring down the cost of claims.
The asset and wealth arm of Canada's Manulife Financial Corporation said on Monday it had opened an office in Ireland to expand its European operations and as part of planning for Britain's exit from the European Union. Banks, insurers and asset managers have been opening offices, hiring staff and moving capital to various locations across the trade bloc to ensure they can continue to serve clients in the event Britain leaves the EU without an exit deal. Currently staffed by four employees, Manulife Investment Management's Dublin office plans to hire two more people over the next six to nine months.
On a per-share basis, the Toronto-based company said it had net income of 81 cents. Earnings, adjusted for non-recurring gains, were 57 cents per share. The results surpassed Wall Street expectations. ...
Foreign insurers including Generali and Prudential Plc are in early talks with authorities to enter China's private pensions sector, people with knowledge of the matter said, as Beijing opens up to overseas companies. Hong Kong-based AIA Group and Manulife Financial are also considering similar moves, they said. Beijing gave approval to the first foreign joint-venture firm to establish a pensions insurance business last month and two of the people said China has been running pilot projects in three provinces involving foreign firms.
The Toronto-based company said it had net income of 21 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, were 49 cents per share. The results fell short of Wall Street ...
Dec 31 (Reuters) - Shui On Land Ltd: * SHUI ON INVESTOR, MANULIFE INVESTORS & CHINA LIFE TRUSTEES TO ESTABLISH JV TO ENGAGE IN INVESTMENT IN PROPERTIES IN PRC * TARGETED TOTAL CAPITAL COMMITMENT OF JOINT ...