Uncategorised | Page 2 of 7

Uncategorised 26th June 2020

A Message To The German Constitutional Court: There Is A Debate On Asset Purchases At The ECB

Intermoney | Within the ECB, they are not forgetting the clash it has had with the German Constitutional Court, after the latter ruled the bank’s bond purchase programme is “partially unconstitutional.” In fact, it is one of the problems they have to solve before the institutional break in August. Meanwhile, the central bank’s internal forum is still debating the question of whether the buying programme had an impact on economic and financial policy. The members of the Governing Council have been discussing the pros and cons of its monetary policy.

Uncategorised 22nd June 2020

IAG, One Of The Big Winners Of The Crisis Thanks To Its Financial Strength And Management

Renta 4 | This year we will see a deterioration in the airline business never before seen in the sector. We expect IAG to cut air traffic capacity by 48% compared to 2019, and by quarters (-10.5% annually already confirmed in Q1/-90% estimated in Q2/ and between -55%/-30% estimated in Q3). Nevertheless IAG is one of the companies with the highest liquidity (€10 Bn), the best operating margins and the lowest debt. The acquisition of Air Europa, with a possible improvement of the conditions, is an additional advantage.

Uncategorised 9th June 2020

Stunned By The US Jobs Report

Michelle Meyer & Alexander Lin (BofA Global Research) | The May jobs report was nothing short of stunning. The labor market recovery started earlier than expected as job growth rebounded by 2.5mn in May. In total, 22mn jobs were lost with a peak U-rate of 14.7%. The quick bounce in job growth reflects the “easy” rehiring. The path becomes more challenging thereaſter, with a long road to full employment.

Uncategorised 8th June 2020

Astrazeneca, Gilead Could Be In Merger Talks Amid Race to Find Covid19 Vaccine

A hypothetical merger would result in the world’s largest Health-Care group. In dollar terms, AstraZeneca’s capitalisation is 141 bn$, with the stock price appreciating 41% in the last twelve months. Meanwhile, Gilead’s capitalisation stands at 96 bn$ and its share price has gained 19% in the same period. Everything points to Gilead preferring to develop very promising drugs on its own, in fields such as HIV or COVID-19.

Uncategorised 8th June 2020

OPEC+ To Extend The 9.7 M bpd Cut By One Month; It Means 100,000 Barrels Less Than In June, And Almost 10% Of The Global Supply

OPEC+ agreed over the weekend to extend the cut in oil production until July 31. Mexico has not signed up to the new agreement. The return of 2 million barrels of crude oil to the daily supply will be postponed until that date. In addition, it was determined that Iraq and Nigeria, which have so far failed to comply with the agreed production cuts, will carry out an additional reduction in July.

Uncategorised 15th May 2020

Iberdrola To Develop 165 MW Of Wind Power In Scotland And Unblock The US-Canada Interconnection

Iberdrola has closed a deal to acquire a 165-megawatt onshore wind energy development in Scotland, involving an investment of over £150 million (about EUR 170 million). Meanwhile, through its US subsidiary Avangrid, Iberdrola has succeeded in unlocking its US-Canada interconnection project in which it plans to invest more than €1 billion.

Uncategorised 10th May 2020

USA: Lives for Money

Pablo Pardo (Washington) | The decision to restart the economic activity will lead to a further increase in deaths, although health authorities around the world hope that it will not lead anywhere near the collapse of health systems, as happened in March and April. But when you say, “lives for money”, you are, relatively speaking, right. Maintaining a daily life that looks even slightly normal will make the death toll rise. It is the price to pay for avoiding an economic depression.

Uncategorised 22nd April 2020

How Social Distancing And Teleworking Will Strengthen The US Technology Sector

Technology plays a fundamental role in the new environment of “social distancing” and teleworking. And from the “day after” there will be cultural changes that will further enhance its development and make its value even more visible. So from an investor point of view, companies such as Netflix or Amazon, in particular, and the US technology sector in general, could act as a safe haven in the short term and emerge strengthened from this crisis.

Uncategorised 12th March 2020

The Other Side Of Coronavirus: Deepens China’s E-Commerce Push

Tina Tian / Ke Tiang (Fidelity) | While the coronavirus threatens to put a dent in China’s overall growth, a boom has appeared in pockets of the online economy. Consumption that has typically happened offline is fast adopting an online mode, with activity from grocery sales and tutoring to healthcare and house hunting.

Uncategorised 7th February 2020

The UK’s Deregulation From The EU Will Take Boris Johnson Initially Longer To Sell

The calm that preceded Boris Johnson’s electoral victory and the approval of Brexit is coming to an end and the gaps looking ahead raise the question “And now what?”. The UK PM faces the option of hooking up with existing EU standards, which will allow for greater trade; and regulatory autonomy, which gives the UK domestic control, but makes trade difficult. But the choice of one way or the other will have consequences.