|Bid||5,488.00 x 47300|
|Ask||5,492.00 x 7000|
|Day's Range||5,460.00 - 5,512.00|
|52 Week Range||3,842.00 - 5,608.00|
|Beta (3Y Monthly)||0.20|
|PE Ratio (TTM)||40.37|
|Earnings Date||Aug 1, 2019|
|Forward Dividend & Yield||0.86 (1.57%)|
|1y Target Est||4,810.83|
Airtel Africa, a unit of India's Bharti Airtel Ltd, last week set a price range of 80 to 100 pence per share for its IPO, which is expected to raise 595 million pounds from the issuance of 595.2 million to 744 million new shares. The bookrunner, which said on Monday it had received indications of interest worth about $200 million from pre-IPO investors, said it had further investor orders of $100 million.
BRUSSELS/ZURICH, June 26 (Reuters) - The European Commission and Switzerland both refused to blink on Wednesday in a standoff over a stalled partnership treaty that threatens to trigger stock trading curbs across Europe from Monday. The Swiss have vowed to retaliate with a decree forcing all Swiss shares to be traded on domestic exchanges by banning EU bourses from hosting Swiss equities trading. In Brussels, the Commission said it has had no contact with Switzerland in the past few days on avoiding the expiration at the end of this week of the regime which allows Swiss stock exchanges to access the European Union market.
The European Commission has had no contacts with Switzerland in the past few days to avoid the expiration at the end of this week of the equivalence regime that allows Swiss stock exchanges to access the EU market, a spokeswoman said on Wednesday. "There have not been any contact," the EU executive's spokeswoman told a news conference. The spokeswoman added that the Commission remained open to finalise an overall partnership treaty with Bern by the end of October.
The Swiss government said on Monday it was ready to ban stock exchanges in the European Union from trading Swiss shares -- intensifying a row over a stalled partnership treaty. The move followed the EU not extending stock market equivalence to Switzerland after Brussels grew frustrated with Swiss foot-dragging over the long-discussed agreement. Bern said in response it would withdraw recognition from trading venues in the EU from July 1 to "protect the Swiss stock exchange infrastructure in the event of non-extension".
Surely, the collective noun for consultants is a billing? Billings of consultants are certainly gathering over Goals Soccer Centres, the five-a-side football pitch operator. Last week, the pugnacious Mike Ashley of Sports Direct, owner of 19 per cent of the group, demanded that GSC should let top corporate sleuths Kroll go over its sums.
BRUSSELS/ZURICH, June 21 (Reuters) - Investors in the European Union and Switzerland will lose direct access to each others' stock exchanges from July 1 in an escalating row over a stalled partnership treaty. Frustrated with Swiss foot-dragging, the European Commission will not propose extending the equivalence regime that lets EU investors trade on Swiss bourses, effectively ending it as of July 1, an EU diplomat told Reuters on Friday. Friday was the deadline for the Commission to make such a proposal, but it will refrain from doing so because Bern did not endorse a partnership treaty with the EU that had been negotiated for years, the diplomat said.
Shares in British technology company Nanoco fell 80 per cent on Friday after a major US customer cancelled a project for which the UK group was a supplier. Manchester-based Nanoco, which was a closely followed name in the British technology sector when it listed in 2009, develops and manufactures cadmium-free quantum dots and other materials used in the manufacture of televisions and other displays. that emit light when stimulated by an electric current, and give better colour definition than LCD and other displays.
BRUSSELS/ZURICH, June 18 (Reuters) - Swiss exchanges risk losing direct access to European Union investors from July 1 in a potential blow to Switzerland's financial industry after the bloc said on Tuesday there had been no progress in talks with Bern over a new partnership treaty. The Swiss government said it will retaliate with measures to defend Swiss stock exchanges if the EU blocks their access to its investors, saying talks on a partnership treaty should not be linked to the so-called equivalence regime. Swiss-EU relations suffered in 1992 when Swiss voters rejected joining the European Economic Area, leading to a negotiated patchwork of 120 accords that now govern ties.
Foreign companies can list their shares in mainland China for the first time starting today, with the official launch of the long-awaited London-Shanghai Stock Connect scheme.The groundbreaking project, which will enable firms listed in the UK and mainland China to raise funds on each other's stock market, is seen as a major step for Beijing in its efforts to internationalise its markets. It had originally been scheduled to launch in December.Huatai Securities, one of China's largest brokerages, made its trading debut on the London Stock Exchange at 8am local time as it became the first company to trade via the new link. Investors in the UK capital were able to buy and sell global depository receipts in Huatai, which has raised US$1.54 billion through the flotation."With the development of the Shanghai-London stock connection scheme, foreign companies that have financing demands will be able to use it to raise funds in China," Fang Xinghai, a vice-chairman of the China Securities Regulatory Commission, told the annual Lujiazui Forum last week.The Shanghai-London link was first proposed during a visit by Chinese President Xi Jinping to the United Kingdom in October 2015.China's stock market has long been off-limits to foreign companies and investors because of the inconvertibility of the yuan.Beijing has been striving to liberalise the market over the past decade to keep pace with its increasing economic might. Beijing must show courage to fulfil its market promises, says China's economic reform guruUnder the Shanghai-London stock connect, only depository receipts " bank certificates representing shares in a foreign company " will be traded by investors.It is different from the stock links between Hong Kong and Shanghai, launched in 2014, and between Hong Kong and Shenzhen, launched in 2016, which allow investors to trade shares through local brokerages.The existing stock connections with Hong Kong give investors access to a large number of stocks, while the Shanghai-London trading system is more limited in its scope.Mainland Chinese retail investors are barred from trading depository receipts (DR) floated by international companies in Shanghai unless they have investment capital of at least 3 million yuan (US$435,000). China mulls 'end to foreign ownership limits' on financial firms"The listing of DR shares by British firms will offer mainland investors new investment options to diversify their risks," said Zhang Yulong, chief strategy analyst with China Securities."As the regulator will take a go-slow approach in approving the issuance of the DR shares in Shanghai, it will not largely dilute existing holdings on the mainland market."Huatai's depository receipts rose 2.4 per cent to US$21 at the open in London this morning.Hong Kong-listed shares of Huatai gained 1.5 per cent to HK$11.76 at the close on Monday. Its mainland-traded A shares inched up 0.9 per cent to 19.45 yuan.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.
(Bloomberg) -- U.K.-listed companies will be able to sell shares in China starting Monday as a new London-Shanghai stock link opens for business. It will be the first time foreign companies are able to list in mainland China, the U.K. government said in a statement.“Stock Connect is a ground-breaking initiative, which will deepen our global connectivity as we look outwards to new opportunities in Asia,” U.K. Chancellor of the Exchequer Philip Hammond will say as he launches the initiative’s first day of trading at the London Stock Exchange.Monday’s opening will give investors in London the opportunity to trade global depositary receipts for Huatai, the technology-enabled securities group in China.The London-Shanghai Stock Connect has taken four years to prepare. It’s beginning at a sensitive time, with Britain’s government in turmoil after Prime Minister Theresa May resigned over her failure to complete the U.K.’s divorce from the European Union.A contest is under way to elect her successor as leader of the U.K.’s ruling Conservative Party, and the outcome of that race is set to have a profound impact on the direction of British trade policy with the EU and the rest of the world.Deepening trade links with Asia is a key U.K. goal as it leaves the EU, and Hammond will celebrate the Stock Connect launch when he welcomes Vice Premier Hu Chunhua and a delegation from the Chinese government to London for talks on Monday.To contact the reporter on this story: Tim Ross in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Flavia Krause-Jackson at email@example.com, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Moody's Investors Service (Moody's) today affirmed London Stock Exchange Group plc's (LSEG) A3 local and foreign currency long-term issuer and senior unsecured debt ratings and Prime-2 local and foreign currency commercial paper ratings. Moody's also affirmed London Stock Exchange plc's (LSE) A3 local and foreign currency long-term issuer ratings.
The brokerage plans to sell as many as 82.5 million global depositary receipts in a range between $20 and $24.50, Huatai told the London Stock Exchange Tuesday. The Shanghai Stock Exchange had said Huatai would be the first issuer to use that program’s cross-listing rules. For China, the move is part of a broader effort to integrate its markets with global finance and internationalize its currency.
Big cross-border mergers in stock exchanges look "hard" given political opposition to opening up bourses to foreign ownership, London Stock Exchange Group Chief Executive David Schwimmer said on Wednesday. "There have been some big painful failures out there in the industry," Schwimmer told the annual FIA IDX derivatives industry conference. The LSE has failed several times to merge with rival Deutsche Boerse, the most recent attempt ending with Schwimmer's appointment as CEO last August.
European Union preparations for a no-deal Brexit would split stock markets in Europe, although the damage could be reduced if Britain spelled out in advance its approach to trading, a top EU regulator said on Tuesday. The EU angered market participants in March when it said that if there is a 'no-deal' Brexit, investors in the bloc would only be able to trade shares which are listed in continental Europe as well as 14 which have a listing in Britain. London is the centre for share trading in Europe, even for many non-UK shares, leaving EU asset managers facing a split pool of liquidity and less competitive prices.
Policymakers should "tether" London to the European Union to avoid isolating the region's largest financial hub, harming the euro zone economy and spawning an offshore financial centre, the head of the U.S. derivatives watchdog said. "It is clear that London is shedding, and will continue to shed, a not insignificant amount of its financial service offerings and specialties to other European financial centers as a result of Brexit," Christopher Giancarlo, chairman of the Commodity Futures Trading Commission (CFTC), said on Tuesday. Banks, insurers and asset managers using London as a gateway to investors across the EU have opened hubs in Dublin, Paris, Frankfurt, Amsterdam and Luxembourg to maintain customer links.
Huatai Securities Co Ltd effectively launched the long-awaited London-Shanghai stock connect on Tuesday with the announcement of plans to raise more than $500 million on the London Stock Exchange (LSE). Under the Connect, Shanghai-listed companies can raise fresh funds via London's stock market while British companies can broaden their investor base by selling existing shares in Shanghai. The launch comes as both China and Britain are entangled in geopolitical uncertainty related to the Sino-U.S. trade war and Brexit respectively.
Dividend paying stocks like London Stock Exchange Group plc (LON:LSE) tend to be popular with investors, and for good...
Britain's Trainline plans to list on the London Stock Exchange in June to raise its profile and tap into the growing demand for e-ticketed travel across Europe. The independent rail and coach travel firm, which sells tickets via its website and mobile app, is looking to raise 75 million pounds through the issue of new shares. Political uncertainty around Britain's departure from the European Union sparked market turbulence in the first quarter of the year, with proceeds from European listings dipping to a 10-year low of $292 million.
FTSE Russell is forging ahead with plans to add Chinese "A shares" to its widely-tracked global benchmarks next month, a senior executive said, as China's resolve to open its capital markets appears unaffected by an ongoing trade war with the United States. "There is no doubt some foreign investors feel uncertainty and volatility under this current political climate," Jessie Pak, Asia Managing Director for the global index publisher, told Reuters in an interview on Friday. Trade tensions between the world's top two economies has roiled Chinese stock markets and the yuan currency, sapping foreigners' appetite for China assets in recent weeks.