June, 2016

• 9 June

  Denmark’s Dong valued at $15bn joins list of European IPO giants

  

    Bloomberg Dong Energy A/S became Europe’s biggest initial public offering this year, with investors lining up to own shares in the Danish utility as it transforms itself into a renewable energy giant. The world’s biggest offshore wind-park operator sold 17.4 percent of its shares at 235 kroner a piece, raising 17.1 billion kroner ($2.6 billion), according to a statement ...

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• 9 June

  ECB to buy VW bonds in 2nd day of purchases

    Bloomberg The European Central Bank bought notes in the region’s corporate bond markets for a second day. Purchases included securities issued by troubled German carmaker Volkswagen AG; Continental AG, Europe’s second-biggest car-parts maker; and French mobile company Orange SA. ECB President Mario Draghi expanded the bond-buying program he started on Wednesday to stimulate the region’s flagging economy. He’s casting ...

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• 9 June

  Economic cost of delaying reforms too high to ignore: Draghi

  

    Bloomberg Mario Draghi called on politicians to help the European Central Bank’s bid to restore economic health to the region by accelerating reforms. “There are many understandable political reasons to delay structural reform, but there are few good economic ones,” the ECB president said in a speech in Brussels on Thursday. “The cost of delay is simply too high.” ...

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• 9 June

  Brazil keeps rate before new Central Bank chief takes post

  

    Bloomberg Brazil kept borrowing costs unchanged as a new central bank president is set to take over the challenge of slowing inflation to target without exacerbating the worst recession in over a century. Policy makers, led by departing bank President AlexandreTombini, on Wednesday voted unanimously to keep the Selic at a near-decade high of 14.25 percent for a seventh ...

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• 9 June

  Dell sells $3.25bn of junk bonds to finance EMC takeover

  

    Bloomberg Dell Inc. paid up to sell $3.25 billion of junk bonds that will help finance its takeover of EMC Corp., just as it did last month in a $20 billion offering of investment-grade debt. The computer maker sold the longer part of its offering, $1.625 billion of eight-year bonds, for a yield of 7.125 percent, about 1.31 percentage ...

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• 9 June

  Sempra’s Ienova rallies on likelihood of $2 bn pipeline win

  

    Bloomberg The prospect of building an underwater pipeline from Texas to Mexico is making Sempra Energy’s Ienova one of the top-performing stocks south of the border. Infraestructura Energetica Nova SAB, as the unit is formally called, had the second-biggest gain on the Mexican Stock Exchange since announcing plans on May 19 to bid to develop the $2.1 billion project ...

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• 9 June

  Chile CPI above target at 4.2% as Central Bank keeps bias

  

    Bloomberg Chile’s inflation rate was unchanged in May, above the target range, as central bank President Rodrigo Vergara used price-growth to explain the bank’s continued tightening bias in monetary policy as unemployment rises. Prices increased 4.2 percent from the year earlier, the National Institute of Statistics reported on Thursday. In the month, prices gained 0.2 percent, the agency said. ...

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• 9 June

  Oil in longest run of gains in 6 weeks

    Bloomberg Oil advanced for a fourth day after government data showed U.S. inventories fell a third week and a new wildfire prompted Canadian producers to shut output. Futures gained as much as 0.9 percent in New York, rising from the highest close in 10 months and extending its run of advances to the longest since April 22. Crude stockpiles ...

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• 9 June

  Saudi ACWA eyes South African ventures despite currency concerns

  

    Reuters Saudi-based ACWA Power expects to win further business in South Africa this year as the power plant developer rides out concerns about the country’s currency to tap into its need for more electricity, the firm’s chief executive said. South Africa’s economy has been hit hard by a significant fall in the rand’s value against the dollar, while businesses ...

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• 9 June

  Hong Kong is world’s most competitive economy

  

    Hong Kong / Tribune News Service In a landmark for Asia, Hong Kong has been named the world’s most competitive economy for 2016, moving from second place last year to push the United States into third spot behind Switzerland. But while Asia might top the world in business, a separate report has shown the Nordic nations lead in life ...

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