|Bid||138.90 x 3500|
|Ask||138.90 x 14200|
|Day's range||137.65 - 139.20|
|52-week range||102.40 - 145.95|
|Beta (3Y monthly)||0.42|
|PE ratio (TTM)||27.37|
|Earnings date||13 Feb 2018 - 19 Feb 2018|
|Forward dividend & yield||2.70 (1.96%)|
|1y target est||119.75|
SIX Group's offer for Spanish bourse operator BME is "financially attractive" for BME shareholders, SIX's CEO said on Tuesday, without directly responding to questions on whether rival offers could lead the Swiss group to up its bid. Pan-European stock market operator Euronext and SIX entered a bidding way for BME on Monday, with both trying to snap up one of Europe's last standalone stock exchanges. "We will see what happens in the future," SIX CEO Jos Dijsselhof told a news conference in Madrid, when asked whether his company would raise its offer for BME, given the potential interest from other bidders.
* U.S. grants Huawei new 90-day license extension Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Market strategist Kevin Muir, author of the Macro Tourist newsletter, has left East West Investment Management and now wants to make a big contrarian bet.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.The battle for the Madrid stock exchange could escalate into a three-way bidding war as Deutsche Boerse AG looks into whether it should enter the fray.The operator of the Frankfurt bourse is studying a potential offer for Bolsas y Mercados Espanoles SA, according to a person familiar with the matter. The process is at an early stage and Deutsche Boerse may still decide against such a move, said the person, asking not to be identified discussing internal deliberations.A spokesman for Deutsche Boerse declined to comment. News website La Informacion reported earlier on the German interest. BME shares climbed less than 1%, having leapt nearly 40% a day earlier when talks with two firms were announced.BME’s market value is now about 2.9 billion euros ($3.2 billion), above the 2.8 billion euros that SIX Group AG offered on Monday, when Euronext NV also revealed it was in takeover talks.Deutsche Boerse has made no secret of its desire for deals, saying last month that it had a war chest of $2.2 billion after abandoning its pursuit of Refinitiv’s foreign-exchange assets.However, some analysts were skeptical of the firm striking a deal for BME. The German group could create more value buying back shares than “investing in an exchange with declining revenues,” Christoph Blieffert, an analyst at Commerzbank AG said in a note. BME doesn’t fit with the German company’s strategy, he said.Exchanges globally are looking for deals to cut costs and gain access to lucrative data services. BME would also help Euronext extend a continent-wide footprint that already includes the Irish stock exchange and Oslo’s bourse.Euronext thinks it has an advantage since SIX’s home country of Switzerland has an uncertain regulatory relationship with the EU, and it will decide this week if it wants to match or beat the bid, a person familiar with the situation has said.BME described SIX’s offer as “amicable” and reflective of its value, and agreed to a break fee of 0.5% of the ultimate transaction price, currently equivalent to 14 million euros.(Adds analyst reaction in fifth paragraph, context in sixth.)\--With assistance from Nicholas Comfort.To contact the reporters on this story: Viren Vaghela in London at email@example.com;Daniel Schaefer in Frankfurt at firstname.lastname@example.orgTo contact the editors responsible for this story: Ambereen Choudhury at email@example.com, Marion Dakers, James HertlingFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
* U.S. grants Huawei new 90-day license extension Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Four little points is all it would take to lift the MSCI All country World Index to its highest level ever as a wave of upgrades from banks and asset managers in their 2020 equity outlooks fuels bullishness across the world. The only trepidation out there, as one says in our newsroom, is that the rally is wholly dependent on a trade deal being sealed by the U.S. and China by the next tariff deadline of Dec 15.
* U.S. grants Huawei new 90-day license extension Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. European shares are positive at the open with the STOXX 600 climbing back to its highest since July 2015, helped by gains across most sectors, as investors appeared hopeful about progress in trade talks between the U.S. and China.
* U.S. grants Huawei new 90-day license extension Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. European shares are seen rising slightly at the open, helped at the margins by news that the U.S. has granted Huawei a longer-than-expected 90-day license extension, although the region's top index remains stuck in its recent tight range, just below record highs, pending clearer news on whether the U.S. and China will strike a preliminary deal to end trade war.
PARIS/ZURICH, Nov 18 (Reuters) - Pan-European stock market operator Euronext and Switzerland's SIX sparked a bidding war for Spain’s Bolsas y Mercados Espanoles (BME) on Monday, with both trying to snap up one of Europe’s last standalone stock exchanges. SIX made a friendly all-cash offer for the Spanish bourse, whose shares jumped by more than a third in early trading, while Euronext said it was in talks with BME with a view to a potential bid, without saying how much it was prepared to pay. With European sector leaders Deutsche Boerse and London Stock Exchange (LSE) effectively too big to consolidate without raising serious competition concerns, mergers are focused on smaller players, with Euronext having already scooped up the Dublin and Oslo exchanges.
Banks and fund managers want the European stock trading day shortened by 90 minutes in a radical move they say would improve market efficiency and staff wellbeing - but exchanges are split. The Association for Financial Markets in Europe (AFME), a banking industry body, and UK-based Investment Association (IA), which represents asset managers, said Europe had some of the longest trading hours in the world at 8-1/2 hours.
European shares closed lower for the first time in seven sessions on Tuesday, as weak earnings dampened optimism surrounding the U.S.-China trade progress and ahead of an expected interest-rate cut by the U.S. Federal Reserve later this week. "The markets are at new highs in Europe and in the U.S. and that is also something that could be pushing investors to take some profit," said Roland Kaloyan, head of European equity strategy at Société Générale. Finnish paper firm Stora Enso's slumped 5.1% as its quarterly profit dropped and it warned of global political uncertainties.
German exchange operator Deutsche Boerse on Monday said it posted a 10% rise in third-quarter net profit thanks to increased trading in derivatives markets as well as power and gas markets and the company confirmed its targets for the full year. Consolidated net profit rose to 248.6 million euros ($275.90 million) from 225 million euros a year ago, the company said. The company is "confident of meeting our full-year targets and confirm our guidance of around 10 per cent adjusted net profit growth for 2019", said Gregor Pottmeyer, chief financial officer.
Today I will take a look at Deutsche Börse AG's (XTRA:DB1) most recent earnings update (30 June 2019) and compare...
Global exchanges urged Britain's markets watchdog on Monday not to ban retail sales of derivatives linked to crypto assets such as bitcoin, saying they were well equipped to protect consumers trading on their platforms. Crypto assets have attracted considerable consumer interest in some cases, holding out the prospect of lucrative new business activity for market participants. Britain's Financial Conduct Authority (FCA) said in July that derivatives and exchange traded notes referencing certain crypto assets were ill-suited to retail consumers who cannot realiably assess value and risks.
Cboe Europe's new share trading hub, which launched in Amsterdam on Tuesday, has attracted light trading so far, giving nervous regulators and policymakers in Britain few clues on how much activity will eventually leave London after Brexit. Faced with the possibility of a no-deal Brexit or patchy UK access to the European Union's financial markets in future, London-based pan-European Cboe built a Dutch hub to ensure continuity for EU clients. Volume in Amsterdam has been tiny.
The European Union could speed up efforts to build an EU-wide capital market by creating euro denominated benchmarks for trading commodities, a new group backed by financial companies, former politicians and central bankers said on Friday. The EU launched its capital markets union (CMU) project in 2014 to encourage more companies to raise funds by issuing stocks and bonds to cut the region's reliance on bank loans. In the EU, companies are still heavy users of banks to get cash unlike in the United States where firms routinely tap the country's vast capital market to raise money by selling bonds or shares.
The pricing of stock market data could be more transparent but no "substantive" changes were needed by European Union regulators, London Stock Exchange Chief Executive David Schwimmer said on Tuesday. The price of market data has become a battle ground between exchanges, who generate data, and investment managers and brokers who need the data to meet a requirement to demonstrate they are getting the best deals for their customers. The EU's markets watchdog, the European Securities and Markets Authority (ESMA), is due to recommend later in the year whether the bloc's executive should mandate a single feed for stock market prices, which could impact the level of prices charged by exchanges to make it commercially viable.
Britain should avoid regulations which allow arbitrage opportunities in the trading of euro denominated swaps after Brexit, France's top market regulator warned on Thursday. The European Union is seeking to build up its own capital markets and reduce its reliance on London. The clash over where euro-denominated securities should be traded and cleared echoes the stand-off between regulators over trading of euro-denominated shares inside the bloc if there is a no-deal Brexit.
A British investment banker at the center of Germany's biggest fraud trial told judges on Thursday he earned millions of euros from deals involving "astronomical" trades that prosecutors say were a means to make bogus tax reclaims. Martin Shields, a former investment banker, said the trading, known as cum ex, thrived between 2005 and 2012, as investors from around the globe made multi-billion-euro trades on German companies. The trial where Shields is giving detailed evidence is the first in a wider investigation aimed at recovering billions from banks which prosecutors believe profited from the trades.
A banker at the center of a trading scheme German prosecutors say resulted in hundreds of millions of euros of illegitimate tax rebates told a court the scheme had taken on an "industrial scale" involving a network of banks and other institutions. Martin Shields, a former investment banker, said that a web of banks, investors and brokers had organized the circular trades, making multiple tax reclaims and sharing the profit. "I am not before you to deny my involvement, but to explain it," Shields told the court in Bonn on Wednesday.
A banker at the centre of a trading scheme German prosecutors say resulted in hundreds of millions of euros of illegitimate tax rebates told a court the scheme had taken on an "industrial scale" involving a network of banks and other institutions. Martin Shields, a former investment banker, said that a web of banks, investors and brokers had organised the circular trades, making multiple tax reclaims and sharing the profit. "I am not before you to deny my involvement, but to explain it," Shields told the court in Bonn on Wednesday.