Equity

Top Equity News

• Card Factory kicks off re-energised post-Easter IPO market

  The market for new equity issuance sprung back to life on Tuesday with the London launch of an IPO for Card Factory, as market confidence grew after some weakness in trading before Easter.

  • 22 Apr 2014
  

• Banco Popolare rights issue rump to be sold in market from Wednesday

  The shares left unsubscribed after Banco Popolare’s €1.5bn capital raise will be offered in a rump sale on Wednesday, after the deal was 99.138% successfully placed.

  • 22 Apr 2014
  

• Intu wraps up rights issue with rump sale

  Intu, the British shopping centre real estate investment trust, has completed its £500m rights issue after investors took up 99% of the shares during the offer period.

  • 22 Apr 2014
  

• Monte dei Paschi board approves increased €5bn cap raise

  Banco Monte dei Paschi di Siena is expected to move ahead with a larger than planned capital raise after the board supported a move to increase the deal to €5bn.

  • 22 Apr 2014
  

• Rezidor Hotels to raise Skr544m in rights issue

  Sweden’s Rezidor Hotels has set the terms for its Skr544m ($82.6m) rights issue, giving the shareholders the opportunity to subscribe for one new share for every six existing shares held.

  • 22 Apr 2014
  

Coverage Message

As pre-Easter weakness affected almost every stock with any connection to the internet, China’s Twitter equivalent Weibo priced its IPO at the bottom of its pricing range and cut the size by 16%.  But confidence in the sector is now improving. Since the deal was priced, Weibo’s shares have traded up a third, leading the firm’s chairman to publically state that the shares were priced too low.

But there are many in the market still nervous about the tech sector, and it seems the rotation out of internet related names is likely to continue. Instead, investors may be tempted by a flight to quality to that market stalwart, the pharmaceuticals sector. The sector has certainly been busy with activity over the weekend to pique investors’ interest: a series of deals between Novartis and GlaxoSmithKline has boosted the two firms (with Novartis’ shares rising almost 2% on Tuesday and GSK soaring over 6%, a result perhaps of interest from Pfizer as well as share buyback plans), while Valeant Pharmaceuticals has bid $47bn to buy Botox maker Allergan, a deal which would make it one of the world’s top five drug companies.

And finally, a brief foray into the world of sport and some imagined business lessons from David Moyes (who, let’s face it, has plenty of time on his hands now to spend handing out advice...) A far more successful model for leadership and turning around a failing business may come from a very different source.

 

Latest Equity News

• Banco Popolare rights issue rump to be sold in market from Wednesday

  The shares left unsubscribed after Banco Popolare’s €1.5bn capital raise will be offered in a rump sale on Wednesday, after the deal was 99.138% successfully placed.

  • 22 Apr 2014

• Rezidor Hotels to raise Skr544m in rights issue

  Sweden’s Rezidor Hotels has set the terms for its Skr544m ($82.6m) rights issue, giving the shareholders the opportunity to subscribe for one new share for every six existing shares held.

  • 22 Apr 2014

• Monte dei Paschi board approves increased €5bn cap raise

  Banco Monte dei Paschi di Siena is expected to move ahead with a larger than planned capital raise after the board supported a move to increase the deal to €5bn.

  • 22 Apr 2014

• Intu wraps up rights issue with rump sale

  Intu, the British shopping centre real estate investment trust, has completed its £500m rights issue after investors took up 99% of the shares during the offer period.

  • 22 Apr 2014

• Card Factory kicks off re-energised post-Easter IPO market

  The market for new equity issuance sprung back to life on Tuesday with the London launch of an IPO for Card Factory, as market confidence grew after some weakness in trading before Easter.

  • 22 Apr 2014

• Goldman holds FICC damage to 11%

  Goldman Sachs reported its best quarter in investment banking since 2007, with net revenues of $1.78bn, up 13% on the year, while dodging the worst of the FICC downturn which has hit some of its peer group. Goldman reported FICC revenues down 11% on the year to $2.85bn, against declines of 21% at JP Morgan and Credit Suisse, 18% at Citi, and 15% at Bank of America Merrill Lynch.

  • 17 Apr 2014

• National Bank of Greece latest in Greek bank capital-raising flurry

  The National Bank of Greece will be the latest Greek bank to raise equity when it approves a €2.5bn capital raising next month.

  • 17 Apr 2014

• Barclays announces heads of banking and markets, fresh strategy review

  Barclays has appointed new heads of banking and markets and confirmed that it would once again review its investment banking strategy.

  • 17 Apr 2014

• FICC fears well founded as first banks show their hands

  The first wave of the big investment banks reported first quarter numbers this week, showing that the promised dive in fixed income trading revenues was no idle warning, writes Owen Sanderson. JP Morgan, Citigroup, Bank of America Merrill Lynch and Credit Suisse all reported first quarter FICC or fixed income numbers down between 15% and 21%, as trading volumes and volatility slumped.

  • 16 Apr 2014

• European Parliament rushes resolution into law

  The European Parliament passed the framework for winding up Europe's banks on Tuesday, ending taxpayer bailouts, according to the law's backers, and nailing down the legal backdrop for the future of banking supervision.

  • 16 Apr 2014