Tag Archives: Investment Banking & Investment Services (TRBC level 3)

UPDATE 1-Telefonica is in exclusive talks with investors for the Brazilian fiber unit | Instant News

(Write with COO comments)

MADRID, February 25 (Reuters) – Telefonica is in exclusive talks with financial investors about setting up a joint fiber optic venture in Brazil, Chief Operating Officer Angel Vila said Thursday.

The Spanish telecommunications group plans to expand high-speed fiber-optic coverage to more cities in Brazil, following a similar project launched in Germany in partnership with insurance company Allianz.

“Brazil is the size of a continent. Our capital expenditure (capex) will not reach everything, “Vila told Reuters.

After speaking with many potential partners, the company has held exclusive talks with “international operators with a financial and infrastructure profile”, said Vila, declining to name investors.

Talks have progressed, he added, but “in this situation you can never say 100% that you will sign.”

Previously Vila told analysts that the second phase of development could be done through agreements with fiber owners such as the American Tower.

Telefonica is already using the infrastructure of larger US companies in the Brazilian states of Minas Gerais and Vila said they “may be interested in consolidating” the agreement.

Vila said she could not confirm a Bloomberg News report that exclusive talks were held with Canadian pension fund Caisse de depot el placement du Quebec (CDPQ), due to a confidentiality agreement.

“CDPQ is a top class long-term global investor, that would be very attractive,” he added.

American Tower did not immediately respond to a request for comment. CDPQ could not be reached immediately.

Telefonica plans to hold half of the business through Telefonica and its local branch Telefonica Brasil.

Vila told analysts by conference call that it could expand the unit later through acquisitions.

Telefonica cut its dividend after reporting a 10% drop in previous 2020 earnings on Thursday, although it expects business to stabilize this year. (Reporting by Isla Binnie, Eid by Inti Landauro, Kirsten Donovan)


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Commodity rally helped Australian stocks close nearly 1% higher | Instant News

* Higher oil prices due to lower production benefit energy stocks

* Copper prices continue to strengthen due to limited supply

* Tech stocks track Wall Street peers lower (Updates to close)

Feb 23 (Reuters) – Australian stocks closed almost 1% stronger on Tuesday, as stronger commodities boosted market expectations of better growth prospects and lifted miners and energy stocks.

The S & P / ASX 200 index rose 0.9% to 6,839.2 at the close of trading.

Participants also watched for a possible change in the view of the US Federal Reserve from Chairman Jerome Powell in his testimony before the Senate Banking Committee at a later date.

Commodity prices rose as oil prices rose on the prospect of tight global supplies after US production was hit by cold weather and a meeting of leading crude producers is expected to hold back most of the production.

Australia’s energy stockpile rose 4.9% due to stronger oil prices.

Oil and gas explorers Woodside Petroleum and Santos Ltd were up 5.7% and 5.9%, respectively.

Gold stocks surged 2.8%, with spot gold hitting a one-week high as inflation concerns boosted gold’s appeal as a hedge.

Miners gained 2% on the back of continued increases in copper prices, helped by limited supply and strong demand expectations.

Copper-exposed global miners, BHP Group and Rio Tinto, rose 3.1% and 1.8%, respectively.

Leading independent gold miner Newcrest Mining jumped 4.4%, while peer Bellevue Gold gained 5.1%. Finance also rose, with the so-called “Big Four” banks rising in the 1.1% to 1.9% range.

Tech shares followed Wall Street peers lower to fall 4.1%, with buy-now-pay-later Afterpay Ltd tumbling 7.2%, while accounting software maker Xero Ltd lost 2.7%.

SEEK Ltd closed 7.1% lower after the job portal operator said it was in talks to cut its stake in China’s Zhaopin unit by A $ 2.2 billion ($ 1.74 billion).

In New Zealand, the benchmark S & P / NZX 50 index was down 0.3%, pulled down by utilities and health care stocks.

($ 1 = 1.2628 Australian dollars)

Reporting by Soumyajit Saha in Bengaluru, Editing by Sherry Jacob-Phillips


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Australian stocks traded flat as a tech slump offset commodity gains | Instant News

* Tech stocks observe their worst day in nearly a month

* Energy stock is set for the best day in nearly six weeks

* Mining stocks hit their highest level since January 8

* NZ is set for the fourth consecutive losing session

February 23 (Reuters) – Australian stocks traded little changed on Tuesday as gains in miners and energy companies in stronger commodity prices battled losses in technology stocks following weak hints from US peers.

The S & P / ASX 200 index was almost unchanged at 6,779.5 by 0000 GMT, after swinging between positive and negative territory for most of the early part of the session.

Tech stocks were the biggest drag on the benchmarks, following losses to US peers who were under pressure from rising bond yields and concerns over higher inflation impacting the valuation.

“The continued increase in real income should reflect better growth prospects for equities but if it rises suddenly, driven higher by flows of rapid repositioning, then we think the impact of a higher discount rate will attract equities lower,” said analysts at UBS are in a note.

Buy-now-pay-later giant Afterpay slumped 7.8% causing losses among local tech firms set for their worst session since Jan.28.

Investors will be watching for any changes to the US Federal Reserve’s dovish outlook from Chairman Jerome Powell when he speaks before the Senate Banking Committee at a later date.

Energy stocks rose by up to 4.1% and were on track to post their best session since January 13, lifted by a surge in oil prices as investors anticipated a slow recovery in US crude production following cold weather in the state of Texas. Oil Search rose 8.6% after posting a surprise underlying gain.

Newcrest Mining and AngloGold Ashanti led gains among gold miners, which rose 5.6%, as concerns over rising inflation and a weak US dollar pushed the metal higher.

Stronger gold bullion and copper prices supported a more than 1% gain in the heavyweight miner, which hit the highest level since Jan. 8. Copper prices broke the $ 9,000 mark for the first time since 2011 amid indications of limited supplies.

New Zealand’s benchmark S & P / NZX 50 index fell 0.6% to 12,356.68 and is on track for a fourth straight session of decline. (Reporting by Arpit Nayak in Bengaluru; Editing by Subhranshu Sahu)


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Shares in Italian highway group ASTM surged in a bid to make the company private | Instant News

MILAN, Feb 22 (Reuters) – ASTM shares surged 27% on Monday, lifted by a buyout offer from a top Italian motorway group investor who wants to take the company private and revamp it.

Nuova Argo Finanziaria (NAF), which holds a 42% stake in ASTM, said at the weekend it would offer 25.60 euros per share in a new vehicle to buy minority investors at an outlay of up to 1.7 billion euros ($ 2 billion).

This represents a premium of 28.8% over ASTM’s official closing price on Friday.

The NAF said it plans to transform business, adding it will be easier to pursue reorganization of unlisted companies.

The Italian Gavio family are major investors in the NAF along with the infrastructure arm of French private equity firm Ardian.

Ardian agreed to invest in ASTM just days before a highway bridge operated by toll road company Atlantia collapsed in August 2018, killing 43 people.

In response to the tragedy, the Italian government has stepped up investment oversight by concessionaires, establishing a new body to monitor safety standards.

$ 1 = 0.8269 euros Report by Elisa Anzolin, written by Valentina Za; Edited by Kirsten Donovan


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Australian stocks slipped on technology and health care losses | Instant News

* Health care stocks fell on the company’s Australian dollar

* Miners benefit from surging copper prices

* Gold stocks rise due to rising bullion prices (Close renewal)

February 22 (Reuters) – Australian stocks closed slightly lower on Monday as losses in healthcare and technology stocks outperformed gains in miners, while Macquarie Group surged after raising its earnings guidance.

The S & P / ASX 200 closed 0.19% lower at 6,780.9, extending its decline from last week, as investors waited for companies such as Oil Search, WoolworthsGroup, Qantas Airways and Lynas Rare Earths to report their earnings results this weekend.

Shares of export-dependent healthcare companies fell 2.2% as the Australian dollar hit its highest level since early 2018 against the US dollar.

A stronger local currency weighs on corporate earnings in US dollars.

Heavy drug developer CSL Ltd and medical device maker Resmed Inc lost 2.4% and 2.2%, respectively.

Technology shares fell 1.7%, with telecom co Telstra Corp and real estate site operator REA Group down 1.5% and 2%, respectively.

Mining stocks rose 3.3% as copper prices spiked to levels not seen in nearly a decade on optimism in demand and a weak US dollar.

BHP Group and Rio Tinto rose 3.3% and 3.6% respectively, while OZ Minerals jumped 7%.

Gold stocks jumped 2% as gold prices rose on the weaker greenback.

Gold explorer De Gray Mining and Emerald Resources jumped 10.1% and 8.2%, respectively.

Macquarie Group Ltd. rose 3.4% after the company said it expects full-year profit to surge due to demand for heating caused by extreme weather in North America.

New Zealand’s benchmark S & P / NZX 50 index fell 1% to 12,426.2, weighed by losses in healthcare and utilities stocks. (Reporting by Soumyajit Saha in Bengaluru; Editing by Subhranshu Sahu)


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