February, 2019

• 12 February

  Indonesia poultry stocks soaring on supply woes

  Bloomberg Indonesia’s chicken shortage could worsen this year, driving further gains in poultry stocks, according to CGS-CIMB Sekuritas. The nation’s poultry association projects that the supply of chicks will drop to 3 billion in 2019 from 3.2 billion last year, after the government banned the use of antibiotics in chicken feed, analyst Patricia Gabriela wrote in a report. A shortage ...

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• 12 February

  Stocks rise, bonds slip on shutdown, trade hopes

  

  Bloomberg Stocks across Europe and Asia advanced and US futures rose after news emerged of a tentative deal among American lawmakers to avert another government shutdown. Treasury yields climbed. Carmakers led the advance in the Stoxx Europe 600 Index, while contracts on the Dow, Nasdaq and S&P 500 all pointed to a firmer open. The dollar held on to most ...

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• 12 February

  Traders with $515bn boycott stocks for cash

  Bloomberg Investors with $515 billion surveyed by Bank of America Merrill Lynch aren’t convinced by the new-year equity rally and prefer cash to stocks. Global equity allocations in February fell to the lowest level since September 2016, according to BofA, even as the MSCI All Country World Index is up almost 8 percent in 2019. That indicates a deep lack ...

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• 12 February

  Plus500 dips after revealing dependence on bad bets

  Bloomberg Plus500 Ltd., sponsor of Spanish soccer team Atletico Madrid, plunged after the broker revealed how much it has cushioned the blow of new rules with profits from customers’ bad wagers. It also warned 2019 earnings will take a hit. The London-traded company recorded a $56 million trading gain by taking the other side of clients’ bets during the fourth ...

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• 12 February

  Deutsche funding costs show struggle to end vicious circle

  

  Bloomberg Deutsche Bank AG is paying some of the highest rates among large banks to raise debt this year, highlighting a key obstacle in the lender’s turnaround effort. Germany’s biggest bank this week sold $1.25 billion of three-year dollar bonds that pay 255 basis points over benchmark interest rates, according to a person familiar with the matter who asked not ...

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• 12 February

  Barclays may shell out more money to shareholders

  

  Bloomberg Barclays Plc may unveil plans to pay out more money to shareholders to fend off criticism of its investment-banking performance — and continued pressure from activist Edward Bramson. That’s a growing view among several analysts ahead of the London-based bank’s earnings report on February 21. Returning surplus capital could be part of a “cohesive strategy to improve returns,” said ...

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• 12 February

  UBS to cut Asia investment banking bonus pool by 8%

  

  Bloomberg UBS Group AG reduced the 2018 bonus pool for its investment bankers in Asia by about 8 percent after a slump in equity offerings last quarter hurt fees, according to people familiar with the matter. Managing directors were the hardest hit, the people said, asking not to be identified because the information is confidential. More executive directors will get ...

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• 12 February

  SNB to stay at record low for longer

  

  Bloomberg The world’s lowest interest rate will be around for longer than previously anticipated, with economists forecasting that a dovish shift for central banks around the world will also affect Switzerland. Citing a delay in European Central Bank tightening, Zuercher Kantonalbank’s David Marmet pushed back his expectations for a 25 basis point increase in the Swiss National Bank’s deposit rate ...

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• 12 February

  New Zealand’s central bank may turn dovish

  Bloomberg New Zealand’s central bank may acknowledge the rising risk of an interest-rate cut when it delivers its first policy decision of the year. While Governor Adrian Orr is expected to hold the official cash rate at a record-low 1.75 percent on Wednesday and signal no change for some time, he could concede there’s an increasing possibility of looser policy ...

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• 12 February

  Retailers help Indian bank stock outpace larger peers

  

  Bloomberg A policy of cautious lending to the silk weavers and shopkeepers of Tamil Nadu has allowed a small local bank to outpace the largest Indian banks in terms of share price performance. City Union Bank Ltd., a small lender based in Kumbakonam, has risen more than 27 percent over the last twelve months, the best performance of any Indian ...

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