We do not see the monetarist helicopter flying. In our view, the helicopter money concept has two caveats. Firstly, money would not be created against nothing meaning that the expected…

In our view, the ECB has fired its last shot. This should remove any obstacle to the continuation of the sector’s recovery. As expected, the ECB deployed all the promised…

Low rates increase the actuarial value of pension obligations. The good news is that hardly any “sponsor” (the industry’s wording to speak of the corporate which has pension risks in…

AMS has reiterated its bid offer on OSRAM at €38.5/share (all cash), now being backed by two banks and having reshaped its industrial offer to satisfy the board. Obviously, this…

Natixis is down about 6% today (Stoxx600 banks is down 0.7%). This follows the FT’s article on Tuesday regarding one of Natixis’ flagship asset managers (H2O). Yesterday, Morningstar has suspended…

Eurofins reported a cyber-attack on its IT systems a few days back. The recovery work is ongoing and no unauthorised theft or loss of confidential client data has been reported…

Casino’s parent Rallye has announced the commencement of a debt re-profiling process under the protection of French courts. Casino is not included in this process (there is no cross default…

Vodafone has released its annual results. Although there was not much new on the operational side, the dividend was cut to €0.09, as was unfortunately expected (but it was probably…

In the frame of formal talks between Commerzbank and Deutsche Bank, DWS might potentially be sold. DWS’s share price was up 10% yesterday on rumours that Allianz is interested in…

After three disastrous years (FY15-17) and a rather disappointing FY18, shoots of life seem to be visible at last. Before jumping in, there are quite a few ifs: restored management…