|Bid||7,494.00 x 0|
|Ask||7,508.00 x 0|
|Day's range||7,420.00 - 7,778.00|
|52-week range||1,656.00 - 8,628.00|
|Beta (5Y monthly)||0.60|
|PE ratio (TTM)||55.79|
|Earnings date||28 Feb 2020|
|Forward dividend & yield||0.40 (0.50%)|
|Ex-dividend date||22 Aug 2019|
|1y target est||4,810.83|
ROME/MILAN, Feb 28 (Reuters) - Italy must block any attempt by the London Stock Exchange to break up the Milan Bourse as it seeks antitrust approval for its $27 billion acquisition of analytics company Refinitiv, a lawmaker from the ruling 5-Star Movement told Reuters on Friday. Davide Zanichelli of the lower house finance committee, said he had asked the government to clarify in parliament what it planned to do in order to protect the Milan bourse, which controls the domestic government bond trading platform MTS. Speculation about the LSE's plans for its Italian unit Borsa Italiana has grown since it announced last year that it planned to buy Refinitiv, in which Thomson Reuters, the parent of Reuters News, holds a 45% stake.
You can share your thoughts with Thyagaraju Adinarayan (email@example.com), Joice Alves (firstname.lastname@example.org) and Julien Ponthus (email@example.com) in London. OPENING SNAPSHOT: ONLY 5 STOCKS UP ON THE STOXX 600 (0836 GMT) Let's start with the handful of shares which are not crashing down this morning: it's easy, there were only 3 at 0835 GMT! Among this happy few club, Rolls Royce is definitely the star performer, pulling off a 4.5% rise while the STOXX 600 is falling 3%.
You can share your thoughts with Thyagaraju Adinarayan (firstname.lastname@example.org), Joice Alves (email@example.com) and Julien Ponthus (firstname.lastname@example.org) in London. Here's a quick five-day market value loss chart (as of yesterday): (Thyagaraju Adinarayan) ***** ON THE RADAR: MORE GLOOM FOR TRAVEL AND LEISURE (0752 GMT) Despite Wall Street’s plunge yesterday there is absolutely no “buy-the-dip” sentiment floating around. Uncertainty is high, and that’s illustrated by British Airways-owner IAG which said it was unable to give profit guidance for 2020 with the virus knocking travel demand.
LONDON (Reuters) - - The London Stock Exchange Group said on Friday it would complete its $27 billion takeover of analytics company Refinitiv on time this year as it reported a rise in annual income driven by a jump in clearing activity. The exchange's chief executive David Schwimmer also said it was too early to assess the impact of the coronavirus epidemic on its global business, although like many companies it has imposed travel restrictions on some staff. Constructive "pre-notification" discussions with European Union competition regulators regarding the purchase of Refinitiv are underway, with Schwimmer saying he expects to submit a formal application in March for approval.
The London Stock Exchange Group said on Friday it would complete its $27 billion takeover of analytics company Refinitiv on time this year as it reported higher-than-expected annual income, driven a jump in clearing activity. "We remain on track to close the (Refinitiv) transaction in the second half of this year," said David Schwimmer, the former Goldman Sachs veteran who took over the reins at the LSE in 2018. Refinitiv is 45%-owned by Thomson Reuters, which owns Reuters News.
Brexit and other tailwinds will help Frankfurt build stronger momentum this year to attract more euro clearing from London without the need for extra customer sweeteners, a senior Deutsche Boerse Group official has said. "Emotionally, the Europeans are very committed to gaining control of the euro as a currency in all its forms like clearing house activity," Bruce Carnegie-Brown, chairman of the Lloyd's of London insurance market, told parliament on Wednesday.
(Bloomberg) -- The Hong Kong stock exchange is closing its books on a tough 2019 as virus-fueled volatility boosts trading volumes to start the new year.The exchange on Wednesday reported a 1% increase in net income and 3% gain in revenue in 2019, helped by a rise in initial public offerings as the bourse maintained its place as the world’s biggest IPO market. That allowed it to weather a 18% drop in trading -- typically its main source of revenue -- as the city was rocked by anti-government protests.Against “a challenging political and economic backdrop,” Chief Executive Officer Charles Li said the bourse managed to post record profits for a second straight year. “Very strong Stock Connect revenue, a buoyant IPO market and good returns from investments offset macro-driven softness in trading volumes in the cash and derivatives markets,” he said in a statement.In early 2020, the tables have turned. Trading has boomed with investors rushing to adjust their portfolios to guard against the impact of the spreading coronavirus, while IPOs have all but come to a halt. Looking ahead, the bourse needs to cement its role as a bridge to China after a bid for the London Stock Exchange Group Plc failed and Alibaba Group Holding Ltd. was kept out of its trading link with mainland China exchanges.The shares fell 0.7% to HK$260.6 as of 1:18 p.m. in Hong Kong.“A surge in cash equities and derivatives trading activity due to heightened near-term market volatility, which boosts Hong Kong Exchanges’ revenue, should more than offset the impact of a weaker pipeline of IPOs,” said Sharnie Wong, a senior analyst at Bloomberg Intelligence.Trading exceeded HK$100 billion on 16 out of 20 days after the Chinese New Year holiday, up by at least 15% from last year.Net income for all of 2019 was HK$9.39 billion, compared with an estimate of HK$9.47 billion in a survey of analysts. Revenue climbed 3% to HK$16.3 billion.Markets are reeling from the deepening coronavirus crisis, with Hong Kong stocks trading at the lowest evaluations in 16 years, but investors are seeing an upside for Hong Kong Exchanges & Clearing Ltd. Its shares are up 2.7% so far this year, adding to a 12% gain in 2019.The exchange typically derives the bulk of its revenue from trading fees and tariffs, while fees from IPOs were just above HK$100 million in both 2017 and 2018, though it generates millions more from other types of listings. The financial hub has played a key part in allowing Chinese investors access to selling and buying stocks, especially with Chinese authorities stepping in to limit selling earlier this month.Li said the virus outbreak brings “renewed uncertainty,” meaning the exchange will “continue to manage costs prudently.”But the trading boom comes as a welcome respite. Last year, the Hong Kong exchange was forced to ditch an unsolicited 29.6 billion-pound ($38.4 billion) bid to buy the London Stock Exchange. The London bourse argued in its rejection that its Hong Kong counterpart was too geographically concentrated, while its business was too heavily exposed to market transaction volume.News earlier this month that Alibaba, which made a massive $13 billion listing in the city last year, won’t be able to join the trading link between Hong Kong and mainland China also highlighted the difficulties the bourse faces in forging closer connections with investors in the world’s second-largest economy. That strategy is now seen as key to its future growth.The CEO stressed the bourse’s top priority in deepening market connectivity to “reinforce Hong Kong’s relevance to both the East and West” as the decade unfolds.Trading via Stock Connect -- the link to Chinese markets -- continued to grow into its fifth year. Northbound trading hit a record for a third consecutive year, more than doubling to a daily average of 42 billion yuan ($5.98 billion). Southbound trading, where mainland investors buy Hong Kong listed stocks, averaged HK$10.8 billion. The link contributed HK$1 billion in revenue for the bourse.The exchange is rated buy by 13 analysts, six have a hold and one recommends to sell, according to data compiled by Bloomberg.(Updates with shares, earnings details in throughout.)To contact the reporter on this story: Kiuyan Wong in Hong Kong at email@example.comTo contact the editors responsible for this story: Candice Zachariahs at firstname.lastname@example.org, Jonas Bergman, Jun LuoFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Thomson Reuters Corp said on Tuesday it had appointed former Nielsen Holdings Plc president Steve Hasker as its new chief executive officer, succeeding Jim Smith. Hasker, most recently a top executive at Hollywood talent agency CAA, will assume his new role on March 15, Thomson Reuters said. Smith, a former journalist who oversaw a period of major change at the company, will stay on for a transition period through 2020 and become chairman of the Thomson Reuters Foundation.
With market uncertainty causing panic to set in, here are two stocks I'd buy during a market crash. The post 2 FTSE 100 and FTSE 250 stocks I’d consider buying in a market crash appeared first on The Motley Fool UK.
Britain's departure from the European Union has created an unprecedented sense of urgency for "full and unwavering" political backing to integrate the EU's capital market, a report said on Thursday. The EU began its capital markets union (CMU) project in 2015 to increase the role of stock and bond markets in funding companies and reduce their reliance on bank loans. Despite new laws and a reboot, results have been patchy and Brexit was a reminder of how much the EU relies on London, Europe's biggest financial centre.
Thomson Reuters Corp is close to naming former Nielsen Holdings Plc president Steve Hasker as its next chief executive, succeeding Jim Smith, according to people familiar with the matter. The appointment of Hasker, a senior adviser at private equity firm TPG and former McKinsey & Co media consultant, could be announced as soon as Tuesday, when the Toronto-based company reports its fourth-quarter results, one of the sources said. Two sources cautioned that his appointment had not been finalized and the timing of an announcement could be slightly delayed.
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Securities settlement house Euroclear posted a record net profit of 431 million euros ($466.73 million) in 2019, up 34% on the prior year, but gave no update on whether it will shake up its ownership structure. Euroclear had been expected to give an update on a strategic review by the end of 2019. Euroclear, which settles stock trades for the London Stock Exchange, Euronext and other exchanges, said on Tuesday it would pay a full year dividend of 82.4 euros per share, up by 50% on 2018.
Britain's 1,100-year-old Royal Mint said on Monday it will launch an exchange-traded product this week backed by physical gold held in its vault in Wales, which will trade on the London Stock Exchange. The Royal Mint was forced in 2018 to freeze plans for a digital gold token after the UK government vetoed a proposal to have it trade on a cryptocurrency exchange, Reuters reported at the time.
The rationale for a "London" proposal to shorten Europe's share trading day has yet to be made, pan-European exchange Euronext boss Stephane Boujnah said on Wednesday. Asset managers and banks have called for a year-long trial of a shorter trading day to improve liquidity, help attract more women into the sector with more family-friendly working hours, and improve the mental health of traders generally. The London Stock Exchange has already held a public consultation on shortening the trading day, but has said that backing from major bourses across Europe would be needed to cut hours.
Pan-European stock market operator Euronext is looking at "all parameters" of the Swiss exchange's offer for Spain's Bolsas y Mercados Espanoles (BME) but has yet to decide whether to launch a counter-bid, Euronext boss Stephane Boujnah said on Wednesday. Swiss exchange SIX made a friendly all-cash 2.84 billion euro ($3.09 billion) offer for Madrid bourse BME in November. Euronext said at the time it was also in talks with BME with a view to a potential bid, without saying how much it was prepared to bid.
Britain is optimistic that it will get permission from the European Union for British clearing houses to continue processing trillions of pounds of derivatives for customers in the bloc, Bank of England Deputy Governor Sam Woods said. Britain left the EU last month and a "standstill" transition period is due to end on Dec. 31. The London Stock Exchange's LCH unit holds positions worth 57 trillion pounds ($74 trillion) on behalf of clients in the EU and needs permission to continue clearing for them after December.
Competition authorities may be better equipped than securities regulators to ensure that exchanges charge fair prices for data on stock prices, Europe's top asset managers and banks said on Tuesday. It marks a racheting up of pressure on European Union authorities to bring down the fees that asset managers and banks pay exchanges for data. EFAMA, which represents asset managers from across Europe, and EFSA, a forum for securities associations such as the Association for Financial Markets in Europe (AFME), said the market power of exchanges has increased significantly in recent years, especially since bourses were privatised.
Cross border supervision of major financial firms need to be worked out carefully to avoid ending up with "multiple pairs of hands on the steering wheel", Bank of England Deputy Governor Jon Cunliffe said on Tuesday. Britain left the EU last month and is seeking access to the bloc's financial market once a "business-as-usual" transition period ends in December. The London Stock Exchange's LCH unit clears the bulk of euro denominated swaps, but access to clients in the EU after December has yet to be worked out.
Pan-European stock exchange Euronext said on Wednesday it would launch a public consultation next month on whether to shorten the trading day. "In each of our six markets, we will not only consult our direct members, but also upstream buy side and retail associations and the operators of post trade processes, clearing and settlement," Euronext said in an emailed statement. Euronext is "very sensitive" to the arguments around work-life balance in the City and the need to have greater participation of women in the industry, the exchange said.