January 27, 2005
The London Stock Exchange (LSE) has rejected a second bid by German company Deutsche Boerse. Despite offering 530p on the share, as well as throwing in other service offers to investors, the LSE declared that the offer had failed to realise the "inherent value" of the LSE. The move comes after high profile investor concerns that Deutsche Boerse would be forced to over-value the LSE. Talks continue with Euronext, who have yet ...
Deutsche Boerse loses second bid
by Brian TurnerThe London Stock Exchange (LSE) has rejected a second bid by German company Deutsche Boerse. Despite offering 530p on the share, as well as throwing in other service offers to investors, the LSE declared that the offer had failed to realise the "inherent value" of the LSE. The move comes after high profile investor concerns that Deutsche Boerse would be forced to over-value the LSE. Talks continue with Euronext, who have yet ...
January 23, 2005
Latin American countries continue to capitalise on a high of record investment in emerging market bonds. At their highest investment rate for seven years according to the Institute for International Finance, expectations of interest rate rises in the US especially have helped strengthen bond yields. The latest big offering is a a 10-year 500m bond issue from Brazil, targeted specifically at foreign investors, priced with a yield of 7.55 per cent. And ...
South American bonds offer strong incentives
by Brian TurnerLatin American countries continue to capitalise on a high of record investment in emerging market bonds. At their highest investment rate for seven years according to the Institute for International Finance, expectations of interest rate rises in the US especially have helped strengthen bond yields. The latest big offering is a a 10-year 500m bond issue from Brazil, targeted specifically at foreign investors, priced with a yield of 7.55 per cent. And ...
Standard Life: latest fund unhappy with Deutsche Börse
by Brian TurnerStandard Life became the latest fund to voice concerns about Deutsche Börse's expected bid for the London Stock Exchange (LSE). Europe's biggest mutual life assurer, Standard Life has asked Deutsche Börse to explain why a take-over of LSE would be good for its own shareholders, and is asking for a shareholder vote before a new offer is made. There is a general concern among some fund managers that Deutsche Börse will ...
January 17, 2005
US equity investment group, Warburg Pincus, has under scrutiny from South Korea's financial watchdog - the Financial Supervisory Service - after suggestions of insider trading. This follows the sale of substantial share interests in credit card company LG Card, in October 2003, by Warburg Pincus. Shortly afterwards, LG Card was pushed to bankruptcy by a bursting consumer spending bubble. The allegations hinge on Hwang Sung-jin, who headed Korean investment operations in ...
Foreign investors feel unease in South Korea
by Brian TurnerUS equity investment group, Warburg Pincus, has under scrutiny from South Korea's financial watchdog - the Financial Supervisory Service - after suggestions of insider trading. This follows the sale of substantial share interests in credit card company LG Card, in October 2003, by Warburg Pincus. Shortly afterwards, LG Card was pushed to bankruptcy by a bursting consumer spending bubble. The allegations hinge on Hwang Sung-jin, who headed Korean investment operations in ...
Investment markets push against Deutsche Börse
by Brian TurnerIn an unusual move, a second investment company has also voiced concern at the possible second bid by Deutsche Börse to take over the London Stock Exchange (LSE). Harris Associates, based in Chicago, USA, declared that a "We believe shareholders should have a vote on major acquisitions such as the discussed acquisition of LSE by Deutsche Börse." Investment company TCI has already attempted to call an extraordinary general meeting, as it holds ...
January 16, 2005
The Chinese stock market benchmark index has reached a six-year low, wiping out a third from its peak in April 2004. Sino-foreign joint mutual fund ventureshave have particularly suffered, with investment groups, such as HSBC Asset Management, Credit Suisse First Boston, and Merrill Lynch, all being adversely affected. Concerns have also been raised on the lack of detail regarding the direct and indirect ownership of state-controlled equity in joint investment partnerships with ...
Chinese funds suffer from Shanghai market losses
by Brian TurnerThe Chinese stock market benchmark index has reached a six-year low, wiping out a third from its peak in April 2004. Sino-foreign joint mutual fund ventureshave have particularly suffered, with investment groups, such as HSBC Asset Management, Credit Suisse First Boston, and Merrill Lynch, all being adversely affected. Concerns have also been raised on the lack of detail regarding the direct and indirect ownership of state-controlled equity in joint investment partnerships with ...
January 9, 2005
Trading has opened in earnest for January with a straight and uninterrupted five trading sessions. However, there was concern and muted enthusiasm, as the new year opened with a string of disappointing forecasts across Europe. William Hill, Next, Marks & Spencers, Ottakers, Stanleys, and Dixons, all reported disappointing trading over the festive period, and adjusted their profit forecasts accordingly. There are also fears of imminent US interest rate rises, that could impact ...
January trade opens: and disappoints
by Brian TurnerTrading has opened in earnest for January with a straight and uninterrupted five trading sessions. However, there was concern and muted enthusiasm, as the new year opened with a string of disappointing forecasts across Europe. William Hill, Next, Marks & Spencers, Ottakers, Stanleys, and Dixons, all reported disappointing trading over the festive period, and adjusted their profit forecasts accordingly. There are also fears of imminent US interest rate rises, that could impact ...
January 8, 2005
US Treasury Secretary, John Snow, affirmed in interviews yesterday that the Bush administration would now be looking to address the spiralling budget deficit. At nearly 6% GDP, the US trade deficit is a real concern for investors in US markets. And although the Dollar rallied strongly this week, it is still in an ongoing cycle that has seen it lose value continually over the past two-and-a-half years. While US jobs figures, released ...
John Snow on US fiscal tightening of deficit rallies dollar
by Brian TurnerUS Treasury Secretary, John Snow, affirmed in interviews yesterday that the Bush administration would now be looking to address the spiralling budget deficit. At nearly 6% GDP, the US trade deficit is a real concern for investors in US markets. And although the Dollar rallied strongly this week, it is still in an ongoing cycle that has seen it lose value continually over the past two-and-a-half years. While US jobs figures, released ...
German government backs Deutsche Börse for LSE
by Brian TurnerAs the ownership battle for the London Stock Exchange (LSE) enters the next phase, with Euronext CEO Jean-François Theodore meeting with LSE counterpart Clara Furse, German government officials have sought to address concerns of its position towards Deutsche Börse. While concerns about job losses in Frankfurt were already raised, the Financial Times reports that an un-named German government official stated: The government has a duty to preserve German jobs, the official ...
