Morgan Stanley

US banks, which opened second quarter reporting this week and last, said Brexit had driven ‘new peaks’ in volumes at trading divisions, with signs of market share gains for the US houses as well.

Morgan Stanley reported profits of $1.6bn for the second quarter of 2016 compared with $1.8bn in the prior year quarter.

Naviera Armas, the Spanish passenger and cargo ferry operator, on Thursday offered its first ever bond. Naviera's bond is also the first debut in the post-Brexit high yield market, which has been dominated by southern European borrowers.

Spain drew nearly €30bn of orders for a new €6bn 10 year benchmark on Tuesday, as Cyprus tightened pricing by 20bp on a seven year deal.

China Jinjiang Environment Holding Co has told investors that its S$184.34m ($137m) Singapore IPO is comfortably covered, as the fixed price offering appears poised to sail through.

Swedish car safety specialist Autoliv has refinanced a $1.1bn revolving credit facility, with two banks leaving and two joining the syndicate. Deals in the region have seen rival lenders increase their share of bookrunning volumes this year.

Two block trades by UniCredit this week, totalling €1.08bn, offered further confirmation that the equity capital market is functioning well, and that there is ample demand for good European stocks, including from US long-only investors.

Standard Chartered has made a new hire in its Europe DCM team who will be focused on corporates.

Italian gaming operator Sisal priced the all-bond funding of its buyout by CVC Capital Partners on Thursday, and brought to life a high yield market still stunned by the Brexit vote.

Teva Pharmaceutical Industries has started a series of investor calls and meetings to market a triple currency bond that is expected to be one of the largest new issues of the year.

UniCredit used similar tactics on its accelerated bookbuild sale of 10% of Bank Pekao on Tuesday night to those it had used for Monday’s sale of FinecoBank — and achieved a similar result: multiple times oversubscription, led by one very large anchor order.

UniCredit has dominated the headlines again this week, but this time for a better reason. Italy’s largest bank has also been its biggest loser of shareholder value, its shares falling 75% since last summer, as investors have lost trust in the sector.