Europe

Moonpig, the online greetings card company, was trading over 20% above its IPO price on Tuesday, netting a healthy profit for investors and showing another example of IPO resilience amidst recent equity market volatility.

UniCredit’s decision to align the definition of a defaulted receivable mortgage loan with the issuer's internal classification will have a negligible impact on the quality of the cover pool, said Moody’s.

Martin Pluves is leaving his role as chief executive of the Fixed Income, Currencies and Commodities Market Standards Board (FMSB).

The euro public sector bond market has got off to a busy start to February. Three eurozone sovereigns have announced syndicated issues, while the European Financial Stability Facility made a €2bn intraday tap on Monday to round off its first quarter funding target.

Auction Technology Group, an operator of online auction sites and owner of auction technology platforms, announced on Monday that it is seeking to list in London.

Bankers said that they were hoping for an event to activate covered bond issuance, following January’s 66% year-to-date supply slump versus 2020. Banks' senior issuance was also surprisingly low, but has more chance of higher volumes in future.

Squire Patton Boggs has hired a new partner to join its M&A, equity capital markets, and restructuring practice in London.

Belfius Bank took advantage of a quiet market to issue a seven year senior preferred transaction on Monday which attracted exceptionally strong demand from bank treasuries buying for their liquidity portfolios, where demand competes with negative yielding covered bonds.

Mass arrests following protests in Russia over the last two weeks in defence of opposition leader Alexei Navalny have increased the likelihood of US sanctions on some of the country’s leading figures. However, market experts say that new sanctions would be unlikely to cripple the country’s markets, as they have done in the past.

Paul Fulcher, formerly at Nomura and Milliman, has joined financial firm Just Group as group capital and investment executive.

UK money manager Triple Point Investment Management is preparing to float a new fund on the London Stock Exchange focused on opportunities within digital infrastructure.

India’s NTPC, formerly known as National Thermal Power Corp, is making a rare venture into the euro loan market.