Europe
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Another equity block trade in Delivery Hero, the German online food ordering marketplace, flew out of the door on Thursday night after the company had reported its 2017 earnings earlier in the week. -
Umicore, the Belgian materials technology and recycling group listed on Euronext Brussels, braved volatile equity markets on Thursday to raise €891.5m of new equity.
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Barclays has hired a new global head of electronic equities from Credit Suisse, following Stephen Dainton into the revamped UK firm, and signalling the importance of electronic execution.
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The corporate bond market has stayed away from the eye of this week’s equity market correction storm, so far. Despite the enhanced volatility, €5.75bn of corporate bonds were priced. While none of the nine tranches have given investors much performance yet, equally, none have yet really underperformed.
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Santander had lined up a “much higher bid” than the €1 it paid for Banco Popular last summer, claimed sources close to the Spanish bank’s resolution. They argued that the sales process would have been more competitive if the Single Resolution Board had allowed potential rescue bidders more time to consider their positions.
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Mainland consumer electronics giant Qingdao Haier is considering launching a flotation of Chinese D-shares on the Frankfurt-based China Europe International Exchange (Ceinex).
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The SSA market showed its “resilience” to the horror show in US equities early in the week as a series of borrowers printed strong dollar trades — one with its largest ever book, another with its largest size in years and not one paying up for the privilege. Some bankers suggested they may have benefited from a flight to safety but the general sense was that if the volatility comes back, public sector borrowers need not worry.
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