|Bid||5,484.00 x 47300|
|Ask||5,486.00 x 7000|
|Day's Range||5,466.00 - 5,509.00|
|52 Week Range||3,842.00 - 5,509.00|
|Beta (3Y Monthly)||0.20|
|PE Ratio (TTM)||40.34|
|Earnings Date||Aug 1, 2019|
|Forward Dividend & Yield||0.86 (1.58%)|
|1y Target Est||4,810.83|
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.
(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.
Trian, the hedge fund run by veteran activist investor Nelson Peltz, has taken a 6 per cent stake in Ferguson, indicating it would attempt to drive up returns at the FTSE 100 plumbing and heating equipment supplier. Shares in Ferguson jumped as much as 11 per cent on Thursday before closing up 6 per cent at £56.30, their highest level since last October, giving the company a market capitalisation of around £13bn.
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.
Russian agents poisoned ex-spy Sergei Skripal and his daughter in Salisbury last year. , listed his commodities group EN+ in London in 2017 raising £1.2bn. MPs moan that the UK Listing Authority does not vet foreign candidates on security grounds.
The British government is eyeing new powers to enable it to block companies from listing on the London Stock Exchange on national security grounds. The move is part of a wider push by ministers to address long-held concerns over the amount of “dirty money” flowing through UK financial markets and the links between organised crime and hostile foreign states such as Russia and China. Under existing British law, it is up to the Financial Conduct Authority, the City regulator, to decide whether a company or individual directors meet the criteria for listing on the stock exchange.
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.
The exchange is banking on partnerships with African exchanges, including those in Nigeria and Kenya, for dual listings, according to Director of Emerging Markets and International Markets Ibukun Adebayo. “If a company has an international strategic growth plan, then the LSE is a perfect vehicle for the company to come and list,” Adebayo said Tuesday in an interview in Nairobi.
Foreign clearing houses for derivatives face tougher scrutiny for risks they would pose to the United States economy if they collapsed, a senior regulator said on Tuesday, mirroring recently-approved European Union reforms. The EU has just approved a law requiring its regulators to categorise foreign clearing houses according to risks posed to the EU financial stability if they went bust. Commodity Futures Trading Commission (CFTC) commissioner Brian Quintenz said the proposal was not a tit-for-tat to the EU reform, which prompted U.S. accusations of regulatory overreach.
A tie-up between London and Shanghai to allow Chinese firms to raise money on the UK stock market and British firms to sell shares in China is facing a long delay and is not likely to happen this year, sources close to the matter said. The Shanghai-London Stock Connect project started in 2015 and was embraced by the London Stock Exchange as one that would give Britain a lead in tapping Chinese investors who are currently not able to invest overseas. It would also allow companies on the Shanghai Stock Exchange (SSE) to launch secondary offerings in London.
Moody's Investors Service ("Moody's") has today upgraded Nexi S.p.A's (Nexi or the company) corporate family rating (CFR) to Ba3 from B1 and probability of default rating (PDR) to Ba3-PD from B1-PD. Concurrently, Moody's has upgraded to Ba3 from B1 the instrument ratings on the EUR825 million senior secured notes due 2023 and the EUR1,375 million senior secured floating rate notes due 2023 (FRNs) both issued by Nexi S.p.A. The outlook is positive. Nexi successfully completed an initial public offering (IPO) of its ordinary shares on 11 April 2019 for the purpose of listing on the Mercato Telematico Azionario, organized and managed by Borsa Italiana S.p.A., with the trading of Nexi shares commencing on 16 April 2019.
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