Tag Archives: Professional & Commercial Services (TRBC level 3)

UPDATES 2-Euro bonds yield flat, new Italian issuance in focus | Instant News


* Eurozone suburban government bond yields tmsnrt.rs/2ii2Bqr (Updating prices, adding backgrounds)

LONDON, April 7 (Reuters) – Eurozone bond yields were flat on Wednesday, with southern European debt steady after a sell-off in the previous session as markets braced for fresh supplies from Italy and Portugal.

Italy began the process of selling its new 50-year and 7-year bonds through a syndicate of banks on Wednesday, after marking new issues the previous day.

Portugal raised, through a bank syndicate, 4 billion euros of 10-year bonds on the back of a demand of 30 billion euros, according to a memo of the chief manager.

The tone on eurozone debt markets was largely weak, with most 10-year bond yields down 1-2 basis points (bps) on the day following falling overnight US Treasury yields.

“Overall, the higher pull from US interest rates is still alive and well and the rebound in eurozone bond markets is largely technical and temporary,” said ING senior rates strategist Antoine Bouvet.

The yield on the German 10-year Bund was flat at -0.32%, down from recent highs around -0.26%.

The IHS Markit Eurozone Purchasing Managers’ Index (PMI) rose to 49.6 in March from February 45.7, higher than the flash forecast of 48.8 and just below the 50 mark that separates growth from contraction.

The eurozone economy is on track for a strong recovery in the second half of this year that could allow the European Central Bank to start phasing out its emergency bond purchases in the third quarter, said Dutch central bank head Klaas Knot.

The ECB bought net assets of 6.178 billion euros ($ 5.20 billion) last week as part of a quantitative easing program, below the 23.995 billion euros it bought a week earlier.

The yield on Italy’s 10-year bond was unchanged at 0.70%, after rising sharply on Tuesday as investors braced for new supplies. The difference in the yield on the German Bund is just over 100 bps.

Analysts said bond spreads are back in focus, especially after last month’s decision by Germany’s constitutional court to stop ratification of the EU Recovery Fund prompted investors to reassess some of the risks to peripheral bonds.

“Tesoro’s (Italian Treasury’s) announcement of a new 50-year BTP syndication caught the market off guard, with 10-year and 30-year spreads versus the Bund widened by 7 bps to its highest level in nearly a month,” said Michael Leister, chief interest rate strategist. at Commerzbank, referring to Tuesday’s market moves.

“While thinner Easter liquidity may also play a role, this move adds weight to our short tactics in Italy versus semi-core (bonds) and Spain as the risk of indigestion is exacerbated by doubts about the NGEU (Next Generation EU), the ECB’s settles and makes a difference. the less generous. “(Reporting by Dhara Ranasinghe; Additional reporting by Yoruk Bahceli; Editing by Pravin Char)

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Australian stocks extended gains as commodity-exposed companies shone | Instant News


April 7 (Reuters) – Australian stocks on Wednesday extended gains for a fourth session, driven by commodity-exposed stocks to strong crude oil and metals prices and as investors bet on improving prospects for a global economic recovery.

The S & P / ASX 200 index rose 0.5% to 6,920.2 points in early trading, hitting a new high since mid-February. Elsewhere in Asia, Nikkei futures were up 0.4%.

On Tuesday, the International Monetary Fund raised its forecast for global economic growth to 6% this year, a level not seen since the 1970s.

Strong economic data from China and the United States lifted oil prices by 1%, while a weaker dollar and lower US Treasury yields boosted bullion.

Meanwhile copper prices rose on supply concerns after a major Chilean producer closed its borders following a spike in coronavirus infections.

Strong commodities lifted sentiment despite the pullback on Wall Street overnight. All three major US stock indexes closed in the red, retreating from previous session record highs, while Treasury yields edged down.

The ASX 300 metals and mining index was up 0.67%, while the gold sub-index was up 1%, led by Resolute Mining Ltd. which was up 4.4%.

Tech shares rose 1.8%, led by EML Payments Ltd, up 10.7%, followed by NEXTDC Ltd which rose 3.6%.

In New Zealand, the benchmark S & P / NZX 50 index was up 0.68% to 12,484.3.

The highest percentage gainer in the benchmark index was Contact Energy Ltd, up 2.8%, followed by Pushpay Holdings Ltd and Air New Zealand Ltd which rose 2.5% and 1.9%, respectively.

Reporting by Shruti Sonal in Bengaluru, Editing by Sherry Jacob-Phillips

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Australian securities regulators search the offices of coal miners TerraCom | Instant News


MELBOURNE, March 29 (Reuters) – Australian securities regulators ransacked coal miners TerraCom Ltd on Monday with assistance from Queensland state police, according to a report in the Australian Financial Review.

The investigation came after regulators confirmed it was investigating the ALS testing laboratory, whose internal review last year found that about half of the certificates awarded for export coal samples over the past decade had been altered to improve demonstrated quality.

The laboratory review made no mention of associates, but began after the unfair dismissal of TerraCom – which bought the Blair Athol coal mine in 2017 from Rio Tinto – that the miner had worked with ALS to fabricate export documentation.

TerraCom, which sells coal to Japan, Korea and China, has denied the allegations that have arisen in the case. Deputy Chairman Craig Ransley told Reuters that TerraCom will continue to work with authorities on industry-wide investigations.

Australia is the world’s largest coal exporter and ALS is one of the largest coal testers. “I can confirm that a warrant was issued today on behalf of ASIC, with the assistance of the Queensland Police,” said a spokesman for the Australian Securities and Investments Commission (ASIC), on condition of anonymity TerraCom.

Queensland Police, asked if Blair Athol TerraCom’s operation had been searched, said ASIC was leading the matter and referred any questions to regulators.

Last week, local media reported that ASIC Commissioner Cathie Armor told a Senate forecast hearing that she was “well aware” of allegations that the ALS lab had improved coal quality results on export certificates.

Armor did not provide further information due to ASIC’s policy of not commenting on issues being investigated, according to a report by the Australian Associated Press. South Korean electricity provider South-East Power banned ALS from certifying its coal tender last year. (Reporting by Melanie Burton; Editing by Tom Hogue)

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German director of personnel expects salaries to rise in 2021 – Ifo / Randstad survey | Instant News


BERLIN, March 9 (Reuters) – A majority of personnel directors at German companies expect salaries to rise by 2021, with more than a quarter expecting wages to rise by more than 2%, a survey by the Ifo agency and employment services firm Randstad. was found.

The survey, whose results were published on Tuesday, further found that 30% expect a wage increase of up to 2%, while 41% think wages will remain the same.

“Even during the corona pandemic skilled workers were highly sought after,” said Przemyslaw Brandt, a researcher at Ifo. “As a result, salaries for skilled workers and managers are more likely to rise than for unskilled employees.” (Reporting by Thomas Escritt Editing by Riham Alkousaa)

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Germany bans Salafi Muslim groups | Instant News


BERLIN, February 25 (Reuters) – German authorities carried out raids at several locations in Berlin and Brandenburg on Thursday after banning Berlin’s Salafi Muslim group, police said.

Berlin’s senate interior department on Thursday said it had banned the “jihad-salafi” association Jama’atu Berlin, also known as the Berlin Tauhid, and that police had carried out the raid, without providing further details.

The German newspaper Tagesspiegel said the group glorified the battle for “Islamic State” on the internet and called for the killing of Jews, adding that criminal proceedings were awaiting decisions against some of its members.

The newspaper added that the group had been in contact with Anis Amri, a Tunisian asylum seeker who failed with Islamic ties, who hijacked a truck and took it to a Christmas market in Berlin, killing 12 people in 2016.

Salafis – strict Sunni Muslims – include peaceful private individuals, activists seeking to implement Sharia law, and militants who advocate violence to establish a state they perceive to represent true Islam.

The number of Salafis has risen in Germany to an all-time high of 12,150 in 2019, Germany’s domestic intelligence said in its annual report last year, listing them among “Islamic extremists”.

It said the number of Salafis has more than tripled since 2011 and that Salafi groups in Germany are going through a consolidation stage, adding that followers remain a low profile in public. (Reporting by Riham Alkousaa; editing by Philippa Fletcher)

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