April, 2019

• 10 April

  Network International rises on $1.4 billion London IPO

  

  Bloomberg Network International shares surged in London trading after the payments processor raised 1.1 billion pounds ($1.4 billion) in an initial public offering that’s the biggest listing in Europe so far this year. Network International jumped 22 percent to 532.20 pence in London. The Dubai-based company sold 200 million shares for 435 pence each, according to a statement on Wednesday. ...

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• 10 April

  Dana Gas production up 6% in first quarter

  

  SHARJAH / WAM Dana Gas has announced that its average production for Q1, 2019 has increased by 6 percent year-on-year to 68,700 barrels of oil equivalent per day (boepd) from 65,000 boepd in Q1 2018. The first quarter production increase was led by the KRI (Kurdistan Region of Iraq), which leapt to 32,750 boepd in Q1, 2019 from 26,300 boepd ...

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• 10 April

  Mexican president urges fuel stations to charge less

  

  Bloomberg First Mexico’s president told oil drillers to produce more. Now he wants fuel stations to charge less. Mexican President Andres Manuel Lopez Obrador is calling on fuels, liquid petroleum gas, and natural gas distributors to review their profit margins and pass on more tax savings to consumers in his latest crackdown on the private energy market. Mexico offers subsidies ...

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• 10 April

  Canadian home building rebounds from deep freeze

  

  Bloomberg Canada housing starts rebounded in March from a sluggish performance a month earlier, returning to levels more in line with demographics and highlighting the buoyancy of the nation’s battered real estate market. Builders started an annualised 192,527 homes in March, the Canada Mortgage and Housing Corp. reported. That’s up from 166,290 a month earlier, when excessively cold weather slowed ...

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• 10 April

  Stocks edge higher before Fed minutes; bonds rise

  

  Bloomberg US stocks edged higher, while Treasuries advanced as investors weighed key developments that continue to raise doubts about the strength of the global economy. The S&P 500 clung to a slight gain as an unexpectedly soft inflation reading potentially boosted the Federal Reserve’s new wait-and-see approach to rate hikes. Minutes from the central bank’s last policy meeting when it ...

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• 10 April

  Hurdle high for India markets even if Modi wins polls

  

  Bloomberg The bar is high for Asia’s most-popular destination of 2019 for overseas money even if Prime Minister Narendra Modi wins a second term in elections starting from Thursday. A survey of 21 global funds and strategists show most expect him to return, an outcome that may be baked into asset prices. With valuations already high, the disappointment if he ...

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• 10 April

  Senate banking chairman aligns with Trump on Fed rate cuts

  

  Bloomberg Senate Banking Chairman Mike Crapo said that he thinks the Federal Reserve should cut interest rates to boost growth, aligning him with President Donald Trump and his latest choices for the Fed board, Stephen Moore and Herman Cain. “I personally think that we’re at a point where they could be reduced a little bit now,” the Idaho Republican said. ...

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• 10 April

  UBS investors urged to refuse lender’s compensation report

  

  Bloomberg UBS Group AG investors should reject the firm’s compensation report, shareholder adviser Glass Lewis said, citing high fines in a legal dispute and the generally lackluster performance of the bank’s shares. UBS had proposed a pay package that included 14.1 million francs ($14 million) in compensation for Chief Executive Officer Sergio Ermotti for last year. While that’s down slightly ...

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• 10 April

  Deutsche Bank comes last in JPMorgan’s ranking of investment banks in EU, US

  

  Bloomberg Deutsche Bank AG came last in a ranking of European and US investment banks compiled by JPMorgan Chase & Co. because of ongoing concerns about trading revenue. Analysts led by Kian Abouhossein cut their forecasts for Deutsche Bank “mainly on lower trading revenue” as European lenders are set to report a weaker first quarter than their US counterparts, the ...

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• 10 April

  Scotiabank CEO scorns US funds shorting Canada banks

  

  Bloomberg Shorting Canadian banks has long made for a poor bet by US hedge funds, and this time will be no different, according to Bank of Nova Scotia Chief Executive Officer Brian Porter. “US hedge funds, from time to time, have appeared in this country over the last 10 years with the same hypothesis of shorting Canadian banks, and it ...

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