Europe

Insurance firms appear untroubled by the impact of climate change on some aspects of their business, while the industry is also overly reliant on historical data that could become irrelevant, according to a consultation paper released by the European Insurance and Occupational Pensions Authority, the supervisory body. Insurers are integrating sustainability into investment decisions, but EIOPA said a brown taxonomy could be useful for the purposes of further work on capital requirements.

The eurozone’s core inflation print surprised the markets by falling below 1% for May, solidifying expectations of a dovish stance from the European Central Bank on Thursday.

Russian potash fertiliser Uralkali has signed its five year $1.45bn-equivalent loan with 13 lenders joining the syndicate. With Uralkali and Suek now signed, lenders have started to prepare for EuroChem.

Buyers of Russia sovereign bonds could get burned as the US contemplates new sanctions against the country. But it seems they and Russia's public debt officials have not made it to the end of HBO's Game of Thrones. Had they done so, they would have learned a valuable lesson. They must do so quickly.

Mizuho Financial Corp marketed a senior bond on Tuesday, breaking the silence in the financial institutions bond market this week. The issuer attracted €1.7bn of orders, showcasing its established name in a quiet market.

Investors are calculating the value of Airtel Africa, the African subsidiary of Indian telecoms conglomerate Bharti Airtel, as it is going ahead with a floatation on the London Stock Exchange (LSE).

Georgia’s largest commercial bank TBC Bank is on the road to promote a dollar benchmark. The deal coincides with the bank’s push into its neighbouring markets, Azerbaijan and Uzbekistan. The bank is spearheading the move with tech platforms.

Slovenská sporiteľňa mandated leads on Tuesday for a euro-denominated mortgage covered bond. It was a slow start to the month in covered bonds, but the Slovak issuer could break the quiet.

Volkswagen has rebooted the IPO of Traton, its trucks division, after the deal was delayed in March due to volatility in equity markets caused by the ongoing trade tensions between the US and China.

The London Stock Exchange Group has continued the push by traditional market institutions into providing information on environmental, social and governance (ESG) factors, by acquiring French firm Beyond Ratings.

Bilfinger, the German industrial services group emerging from a troubled period, is roadshowing on Monday and Tuesday for a €250m bond it pulled in October. The market conditions are not ideal but investors are engaging with the deal.

JP Morgan has appointed Xavier Bindel as co-head of technology investment banking for Europe, the Middle East and Africa, as it seeks to improve its capabilities in a brisk area of business.