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UPDATE 1-EU excludes major banks from bond sales
  + stars: | 2021-06-15 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +2 min
It fined banks including Bank of America, Credit Agricole, Natixis, Nomura, Natwest Markets (formerly RBS) and UniCredit for breaching antitrust rules by participating in bond cartels in two separate cases in April and May this year. Deutsche Bank also participated in one of the cartels but was not fined as it revealed the cartel to the Commission. Those banks are among the EU’s 39 primary dealers, which manage syndicated debt sales for the bloc -- where they sell the debt directly onto end investors -- for lucrative fees. Spokespeople for Nomura, BofA, Barclays, Natixis, Credit Agricole, NatWest, Deutsche Bank, UniCredit, Citi and JP Morgan all declined to comment. The European Union on Tuesday raised 20 billion euros ($24.25 billion) from the first bond backing its recovery fund on the back of near-record demand.
Persons: Nomura, Spokespeople, JP Morgan, Intesa Sanpaolo, Morgan Stanley Organizations: European Union, European Commission, Reuters, , Bank of America, Credit Agricole, Natixis, Natwest Markets, RBS, Deutsche Bank, Commission, Barclays, Citigroup, JPMorgan, Natwest, BofA, NatWest, UniCredit, Citi, Financial Times, BNP, DZ Bank, HSBC, IMI, Intesa, Danske Bank, Santander Locations: AMSTERDAM
Belgian agri-tech firm Biotalys plans listing in Brussels
  + stars: | 2021-06-15 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +2 min
BRUSSELS, June 15 (Reuters) - Belgian agri-tech company Biotalys announced on Tuesday plans to list on Euronext Brussels in the coming weeks, hoping to entice investors with its biological alternatives to chemical pesticides. Biotalys extracts proteins for use against fungi, bacteria and insects that attack crops, especially high-value fruit like grapes and strawberries. New investors BNP Paribas and Belgian state fund SFPI-FPIM had also committed to a combined 10 million euros. The company sees future revenues from its own sales and future partnerships and, longer term, use of its technology in other fields, such as food preservation. Selles said Biotalys’ products were as effective as chemical equivalents and superior to microbial solutions currently on the market because, as neutral proteins, they do not depend on particular environmental conditions to work.
Persons: Biotalys, Sanofi, , Patrice Selles, Selles, FPIM, Philip Blenkinsop, Lisa Shumaker Organizations: Brussels, Flanders Institute for Biotechnology, European Union, Sofinnova Partners, BNP Locations: BRUSSELS, Belgian, Biotalys
EU hires banks for first recovery fund bond - lead managers
  + stars: | 2021-06-14 | by ( Yoruk Bahceli | ) www.reuters.com + 0.88   time to read: +1 min
REUTERS/Regis Duvignau/File PhotoThe European Union on Monday hired banks for a 10-year bond sale, the first to finance its recovery fund, according to two lead managers, a crucial step in financing the bloc's economic recovery from the coronavirus pandemic. The sale will be launched on Tuesday, subject to market conditions, memos from the lead managers seen by Reuters said. The bond will raise 10 billion euros, France's junior minister for European affairs said on May 31. The EU has said it expects to issue 80 billion euros of debt this year. The bloc hired BNP Paribas, DZ Bank, HSBC, IMI-Intesa Sanpaolo and Morgan Stanley as joint lead managers for the debut deal, while Danske Bank and Santander will act as co-lead managers, according to the memo.
Persons: Regis, Intesa Sanpaolo, Morgan Stanley Organizations: BNP, REUTERS, Union, Monday, Reuters, EU, DZ Bank, HSBC, IMI, Intesa, Danske Bank, Santander, Thomson Locations: Paris, France, EU
REUTERS/Loren Elliott/File PhotoHOUSTON/NEW YORK (Reuters) - Exxon Mobil Corp has lost two top crude oil traders from its U.S. energy trading group, according to people familiar with the matter, in a continued exodus from the group. Exxon last year reversed course on a major expansion of its oil and petroleum products trading as oil demand tumbled during the pandemic. Paradise was a highly regarded crude oil trader who joined Exxon from Noble Group. He earlier was director of crude oil trading at Citigroup and BNP Paribas. Buller joined Exxon in late 2019 after trading oil for Petrolama Energy Canada and Spain’s Repsol.
Persons: Loren Elliott, Michael Paradise, Adam Buller, Spain’s Organizations: Exxon, REUTERS, HOUSTON, Exxon Mobil Corp, Noble Group, Citigroup, BNP, Buller, Petrolama Energy, BG Group, Reuters Locations: Houston , Texas, U.S
UPDATE 1-German bonds set for best weekly performance in 2021
  + stars: | 2021-06-11 | by ( Yoruk Bahceli | ) www.reuters.com + 0.00   time to read: +3 min
On Thursday, the European Central Bank maintained an elevated pace of pandemic emergency bond purchases (PEPP) for the third quarter. Bond yields move inversely with prices. The German yield curve, measured by the gap between two and 10-year yields, was at its flattest in nearly two months at 40 bps. Southern European bonds, which outperformed following the ECB session on Thursday, also continued rallying on Friday. Italy’s 10-year yield down nearly 5 bps to 0.76%, pushing the closely watched risk premium over German bonds to a new five-week low 103 bps.
Persons: , Ralf Preusser, Myria Kyriacou, Bond, BTPs, ” Spyros Andreopoulos, Klaas, Robert Holzmann Organizations: BTPs, Southern, ECB, European Central Bank, . Treasury, BNP
REUTERS/Loren Elliott/File PhotoExxon Mobil Corp has lost two top crude oil traders from its U.S. energy trading group, according to people familiar with the matter, in a continued exodus from the group. Exxon last year reversed course on a major expansion of its oil and petroleum products trading as oil demand tumbled during the pandemic. Paradise was a highly regarded crude oil trader who joined Exxon from Noble Group. He earlier was director of crude oil trading at Citigroup and BNP Paribas. Buller joined Exxon in late 2019 after trading oil for Petrolama Energy Canada and Spain's Repsol.
Persons: Loren Elliott, Michael Paradise, Adam Buller, Spain's Organizations: Exxon, REUTERS, Exxon Mobil Corp, Noble Group, Citigroup, BNP, Buller, Petrolama Energy, BG Group, Reuters, Thomson Locations: Houston , Texas, U.S
Veteran oil traders Michael Paradise and Adam Buller, both of whom joined Exxon in 2019 after lengthy careers elsewhere, resigned last week, the people said. Paul Butcher, an oil trader in Britain, plans to leave in September, another person familiar with the operation said. Butcher was recruited in 2018 as a North Sea crude oil trader and adviser on accounting for transactions to its Leatherhead unit near London. VETERAN DEPARTURESParadise was a highly regarded crude oil trader who joined Exxon from Noble Group (NOBG.SI) and was previously director of crude oil trading at Citigroup Inc (C.N) and BNP Paribas (BNPP.PA). Buller joined Exxon in late 2019 after trading oil for Petrolama Energy Canada and Spain's Repsol SA (REP.MC).
Persons: Loren Elliott, Michael Paradise, Adam Buller, Paul Butcher, Butcher, We’re, Casey Norton, Buller Organizations: Exxon, REUTERS, Exxon Mobil Corp, British, BP Plc, Glencore, Vitol SA, Noble Group, Citigroup Inc, BNP, Petrolama Energy, Spain's Repsol SA, BG Group, Royal, BP, Reuters, Thomson Locations: Houston , Texas, U.S, Britain, Leatherhead, London, Knoxville , Tennessee, North America, Paradise, Buller, Royal Dutch
Yet April’s surprisingly strong U.S. inflation print spooked some, leading to a cautious run into the May numbers later on Thursday in case of another upside surprise. Ahead of both key events, market sentiment remained subdued with MSCI’s broadest gauge of global stocks flat at 715.77 points, just off a record high of 718.19 hit last week. U.S. stock futures pointed to a mixed open on Wall Street, with the S&P called flat and Nasdaq down 0.3%. Ankit Gheedia, BNP Paribas’ head of equity and derivative strategy for Europe, said he expected inflation to pick up “sharply” in the coming months. So we think there will be higher inflation during summer,” although stock volatility would likely remain low in the coming days, absent a shock on inflation.
Persons: April’s, Ankit Gheedia, Kit Juckes Organizations: Global, eyeing, Federal Reserve, European Central Bank, Nasdaq, BNP, , Morgan, Treasury, U.S, CPI, Reuters, , Generale, Brent Locations: eyeing U.S, COVID, Europe, Asia, Pacific, Japan, U.S, Treasuries, United States
Compliance Officers Play Leading Role in Pursuing Diversity Goals
  + stars: | 2021-06-10 | by ( Mengqi Sun | ) www.wsj.com + 0.00   time to read: +5 min
Corporate compliance officers are getting more involved in diversity and inclusion efforts, using their expertise in helping employees adhere to laws and company policies to push for change. Newsletter Sign-up Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. Last August, she helped launch the National Association of Black Compliance & Risk Management Professionals Inc. Eric Young, a former compliance chief at the Americas unit of BNP Paribas who now runs a compliance advisory firm. And having a diverse compliance team can demonstrate an appreciation for the diversity of a company’s customer base.
Persons: George Floyd, Kellye Gordon, Gordon, , Moni Robinson, Robinson, Jennifer Newton, Newton, Eric Young, Johnny Milano, Ms, Young, ” Mr, they’re, Henry Thoman, , — Jack Hagel Organizations: Corp, National Association of Black, Risk, Inc, BNP, Wall, SA, Fordham University School of Law, Black, Mobility Capital Finance Inc Locations: Dallas, Americas
Asset Managers in Europe Look for Deals to Bulk Up
  + stars: | 2021-06-10 | by ( Julie Steinberg | ) www.wsj.com + 0.71   time to read: +1 min
Asset managers in Europe are doing deals and gaining scale. Some 32 deals worth $5.2 billion have been announced so far this year. The latest deal on the block: Dutch insurer NN Group NV is looking to sell its NN Investment Partners asset-management arm. Deutsche Bank AG’s asset-management unit, DWS Group GMBH, and French banking giant BNP Paribas SA are both potential bidders, according to bankers familiar with the deal process. Europe has a deep pool of savings and the business of managing money is increasingly bifurcating between specialist boutique asset managers and bigger players that have scale to keep costs low.
Organizations: Investment Partners, Deutsche Bank, DWS, BNP Paribas SA, BlackRock Inc Locations: Europe, East, Africa
A logo of Airbus is seen at the entrance of its factory in Blagnac near Toulouse, France, July 2, 2020. REUTERS/Benoit TessierAirbus (AIR.PA) and Air France-KLM (AIRF.PA) have urged policymakers to use EU-backed green stimulus funds to support aircraft sales, according to documents released on Thursday by InfluenceMap, an investor-led climate lobbying watchdog. "Support could take the form of a 'green stimulus' subsidy scheme," according to an Air France-KLM "key messages" digest dated March 26. Another BNP-led demand for climate lobbying disclosures by Delta Air Lines (DAL.N) has been endorsed by influential proxy advisers ISS and Glass Lewis ahead of next Thursday's shareholder meeting. "The idea that we have 'actively lobbied' against EU climate policies to reach these targets is false," A4E said.
Persons: Benoit Tessier Airbus, InfluenceMap, Frans Timmermans, Glass Lewis, A4E Organizations: Airbus, REUTERS, Air France, KLM, European Commission, Exxon, BNP, Airlines, Delta Air Lines, Industry, Airlines for, Lufthansa, Ryanair, SAF, EU, Thomson Locations: Blagnac, Toulouse, France, Air France, Paris, Brussels, United States, Europe, Airlines for Europe, COVID
FILE PHOTO: The European Central Bank (ECB) logo in Frankfurt, Germany, January 23, 2020. Will the ECB slow the emergency bond buying pace? Graphic: ECB PEPP Plan:3. While the ECB is likely to revise up near-term inflation forecasts, its long-term estimates should show price pressures remain subdued. Dovish ECB talk has pushed bond yields down from May’s multi-month highs, reassuring the central bank.
Persons: Ralph Orlowski, Fabio Panetta, Luigi Speranza, Christine Lagarde, Klaas, Lagarde, Francois Villeroy de Galhau, , Sébastien Galy, Joe Biden’s Organizations: European Central Bank, REUTERS, ECB, BNP Paribas, APP, Nordea Asset Management Locations: Frankfurt, Germany, Dutch, Central
Will the ECB slow the emergency bond buying pace? BNP Paribas chief global economist Luigi Speranza said he expected a "dovish tapering" that could pave the way for a moderate slowdown in the pace of bond buying. The PEPP will run until end-March and the ECB has said it doesn't need to use the full 1.85 trillion euro "envelope." French central bank governor Francois Villeroy de Galhau reckons the ECB could introduce more flexibility into the APP. While the ECB is likely to revise up near-term inflation forecasts, its long-term estimates should show price pressures remain subdued.
Persons: Fabio Panetta, Luigi Speranza, Christine Lagarde, Klaas, Lagarde, Francois Villeroy de Galhau, Sébastien Galy, Joe Biden's Organizations: European Central Bank, ECB, BNP Paribas, APP, Asset Management, Thomson Locations: Dutch, Central
The deal includes a $31.5 billion bridge, $10 billion in term loans, and a $6 billion credit line. The new company will sell the bridge loan throughout the debt capital markets, sources tell Insider. Spokespersons for AT&T, Goldman Sachs, and JP Morgan were not immediately available to respond to a request for comment. The debt includes a $31.5 billion bridge loan, $10 billion in term loans, and a $6 billion revolving credit line. Beer brewer AB InBev's $75 billion loan that funded its merger with peer SABMiller in 2015 is the largest so far, followed by a $61 billion bridge loan for Verizon Communications' purchase of Verizon Wireless in 2013.
Persons: Goldman Sachs, JP Morgan, SMBC, Banks, Aryeh Bourkoff, LionTree, Kurt Simon, John Waldron, SABMiller Organizations: Warner Bros Discovery, Discovery, Disney, Netflix, JPMorgan, Bank of America, Barclays, BNP, Citi, Credit Suisse, Deutsche Bank, Mizuho, Royal Bank of Canada, Santander, Scotiabank, TD Bank, Truist, ING, PNC Bank, Fifth Third Bank, US Bank, London, Federal Reserve, LionTree Advisors, Beer, InBev's, Verizon Communications, Verizon Wireless Locations: Maltese, Wall, Commerzbank, MUFG, Wells, Refinitiv
Asian equities clock biggest foreign outflows since March 2020
  + stars: | 2021-06-03 | by ( Gaurav Dogra | ) www.reuters.com sentiment -0.99   time to read: +2 min
A staff wears a protective mask to prevent the spread of the coronavirus disease (COVID-19) while at Taiwan Stock Exchange in Taipei, Taiwan, February 8, 2021. REUTERS/Ann WangAsian equities in May clocked their biggest foreign outflows in 14 months due to a spike in COVID-19 cases in the region and as growing inflationary pressure tempered risk appetite. South Korea led outflows, seeing net sales of $7.97 billion last month on concerns over rising inflation, which has reinforced calls for gradual monetary tightening. Thai and Indian equities saw net sales of $1.1 billion and $389 million, respectively. BNP Paribas' Raychaudhuri said he expects foreign flows to improve selectively in a few Asian markets in the second half of 2021, particularly in Taiwan and South Korea.
Persons: Ann Wang, Raychaudhuri, Organizations: Taiwan Stock Exchange, REUTERS, BNP, Taiwan, Thomson Locations: Taipei, Taiwan, South Korea, Philippines, Thailand, Vietnam, Indonesia, India, Asia, Pacific, Korea, “ Korea
The real was up 1.4% and the Bovespa stock index extended gains to a sixth straight session and hit an all-time high of 128,620.25. The real had rallied 1.3% on Tuesday when data showing faster-than-expected growth in the first quarter saw Goldman Sachs, BNP Paribas and Citi raise their 2021 growth forecasts above 5%. Colombia's peso rose 0.5% as oil rose, supported by an OPEC+ decision to stick to its plan to restore supply to the market gradually and by the slow pace of nuclear talks between Iran and the United States. Mexico's peso rose 0.4%. Mexico's Ipc index stayed at highs last seen in January 2018, while Colombia's COLCAP rose half a percent.
Persons: Susan Mathew, Shreyashi Sanyal, Goldman Sachs, Roberto Campos Neto, Pedro Castillo, Andres Manuel Lopez Obrador's, Colombia's COLCAP, David Holmes, Nick Zieminski Organizations: BNP, Citi, Regeneration, Marfrig Global Foods, Reuters, SA, Ipc, Brazil Bovespa, Mexico IPC, Argentina MerVal 62416.59, Chile, Argentina Locations: Brazil, OPEC, Iran, United States, Peru, Mexican, Mexico, Chile, Argentina, Colombia, Bengaluru
REUTERS/Toby Melville/File PhotoLondon's FTSE 100 index climbed on Wednesday, helped by gains in heavyweight energy and banking stocks, while Bloomsbury Publishing jumped on a robust earnings report. The blue-chip index (.FTSE) rose 0.4%, with oil majors BP (BP.L) and Royal Dutch Shell climbing 1.9% and 2.2% respectively, as crude prices extended gains. The FTSE 100 index has traded in a tight range since April as concerns grew that central banks might pare support early as economies reopen and inflation climbs. read moreGlobal stock markets hovered near record highs despite wary investors remaining unconvinced by central bank assurances that the current inflation upsurge is transient. [nL3N2NK1ZB]Burberry Group (BRBY.L) jumped 3.5% to the top of the FTSE 100 index after Exane BNP Paribas upgraded the stock to "outperform" from "neutral".
Persons: Toby Melville, Banks, Harry Potter, lockdowns, Danni Hewson, AJ Bell, pare, TATE.L, Berenberg Organizations: London Stock Exchange Group, REUTERS, Bloomsbury Publishing, BP, Royal, Shell, HSBC, Prudential Plc, Lloyds Banking Group, Barclays, OPEC, Bank of, Tate, Burberry, BNP, Thomson Locations: City, London, Britain
Energy, consumer staples stocks boost FTSE 100; Bloomsbury jumps
  + stars: | 2021-06-02 | by ( Devik Jain | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Toby Melville/File PhotoLondon's FTSE 100 index climbed on Wednesday, helped by gains in heavyweight energy and consumer staples stocks, while Bloomsbury Publishing jumped following a strong earnings update. The blue-chip index (.FTSE) rose 0.4%, with oil majors BP (BP.L) and Royal Dutch Shell climbing 1.8% and 1.9% respectively, as crude prices extended gains. Large dollar-earning consumer staples companies including Reckitt Benckiser Group (RKT.L), Diageo (DGE.L) and Unilever (ULVR.L) provided the biggest boost to the index. The FTSE 100 index has traded in a tight range since April as concerns grew that central banks might pare support early as economies reopen and inflation climbs. Burberry Group (BRBY.L) jumped 2.6% to the top of the FTSE 100 index after Exane BNP Paribas upgraded the stock to "outperform" from "neutral".
Persons: Toby Melville, Harry Potter, lockdowns, Sebastien Galy, pare, TATE.L, Berenberg Organizations: London Stock Exchange Group, REUTERS, Bloomsbury Publishing, BP, Royal, Shell, Reckitt Benckiser, Diageo, Unilever, ECB, Nordea Asset Management, Tate, Burberry, BNP, Thomson Locations: City, London, Britain
Now that all the legislative steps have been taken, the European Commission is able to tap capital markets in search for those funds as early as this month. "The European Commission is ready to go to the markets to raise money to make [the] EU greener, more digital and resilient," President Ursula von der Leyen said on Twitter. However, these documents are still being reviewed by the European Commission and must be scrutinized one final time by the member states. Some member states, such as Portugal, are pushing for the entire review process to be concluded by the end of June. The European Union's economy contracted 6.1% in 2020 and is expected to rebound by 4.2% in 2021, according to data from the European Commission.
Persons: Ursula von der Leyen, Erik Nielsen, disbursements Organizations: European Commission, European, Twitter, France's BNP, Germany's Deutsche Bank, Italy's, CNBC Locations: Union, EU, Portugal, Europe
FILE PHOTO: A BNP Paribas logo is seen outside a bank office in Paris, France, August 6, 2018. REUTERS/Regis Duvignau/File PhotoLONDON (Reuters) - Duncan Chiah, a senior trader at Bank of America in London, is joining BNP Paribas to lead their single stock flow trading business, according to a source familiar with the matter. Chiah, most recently an equity derivatives trader at BofA, declined to comment on the move. BNP’s tapping of Chiah comes as it expands its stocks business after buying Deutsche Bank’s prime brokerage and electronic equities businesses in 2019.
Persons: Regis, Duncan Chiah Organizations: BNP, REUTERS, Bank of America, Deutsche Locations: Paris, France, London, BofA
"The digital yuan is both programmable and trackable giving the Chinese government enormous control over the economy. 'Obvious benefits' for China in promoting digital yuanAs China promotes its digital currency, it is also bringing in uncertainties through the process, says the CEO of BNP Paribas' China business. "But on the other hand, the digital currency might introduce uncertainties (to) the financial institution," he added. China's central bank has been working on the digital yuan, the so-called the Central Bank digital currency (CBDC), that aims to replace some cash in circulation. It's effectively a way for the central bank to digitize bank notes and coins in circulation.
Persons: Boris Schlossberg, Lai, CNBC's, Organizations: Visual China, Getty, cryptocurrency, BK Asset Management, BNP Paribas, Central Bank Locations: Chengdu, Yichang, Hubei Province, China
UPDATE 1-Ryanair set to raise $1.5 billion from five-year bond sale
  + stars: | 2021-05-18 | by ( Yoruk Bahceli | ) www.reuters.com sentiment -1.00   time to read: +1 min
(Adds details, context, background)May 18 (Reuters) - Ryanair will raise 1.2 billion euros ($1.5 billion) from a five-year bond sale later on Tuesday, memos from two lead managers seen by Reuters showed. The sale comes after Ryanair posted a record annual loss for the year ending in March on Monday as a result of travel restrictions linked to the pandemic. Ryanair will use the proceeds of the bond sale for general corporate purposes, an investor presentation seen by Reuters said. Ryanair hired BNP Paribas, Citigroup and Commerzbank for the sale on Monday, a previous memo said. ($1 = 0.8192 euros) ($1 = 0.7046 pounds) (Reporting by Yoruk Bahceli Editing by Rachel Armstrong and Barbara Lewis)
Persons: Michael O’Leary, Yoruk, Rachel Armstrong, Barbara Lewis Organizations: Ryanair, Reuters, Ryanair DAC, TUI Cruises, Bank of England’s, BNP, Citigroup, Commerzbank Locations: TUI
UPDATE 2-Ryanair set to raise $1.5 billion from five-year bond sale
  + stars: | 2021-05-18 | by ( Yoruk Bahceli | ) www.reuters.com sentiment -0.99   time to read: +2 min
(Adds context, quotes)May 18 (Reuters) - Ryanair will raise 1.2 billion euros ($1.5 billion) from a five-year bond sale later on Tuesday, memos from two lead managers seen by Reuters showed, as the company takes advantage of favourable terms to bolster its finances. Ryanair on Monday posted a record annual loss for the year ending in March as a result of travel restrictions linked to the pandemic. Ryanair will use the proceeds of the bond sale for general corporate purposes, an investor presentation seen by Reuters said. Ryanair said on Monday it already had sufficient funds to repay the upcoming bond maturity, but the bond sale was opportunistic. Ryanair hired BNP Paribas, Citigroup and Commerzbank for the sale on Monday, a previous memo said.
Persons: Michael O’Leary, We’ve, ” O’Leary, capitalising, , Yoruk Bahceli, Conor Humphries, Rachel Armstrong, Barbara Lewis Organizations: Ryanair, Reuters, Ryanair DAC, TUI Cruises, Bank of England’s, BNP, Citigroup, Commerzbank Locations: TUI, Dublin
(Updates with completion of sale)DUBLIN, May 18 (Reuters) - Ryanair raised 1.2 billion euros ($1.5 billion) at a record low coupon rate in a five-year bond sale on Tuesday, as Europe’s largest low-cost airline took advantage of favourable market conditions to bolster its finances. The sale happened a day after the Irish carrier reported a record annual loss of 815 million euros as a result of travel restrictions linked to the coronavirus pandemic. Ryanair had 3.15 billion euros in cash at the end of March and unencumbered aircraft worth at least 7.3 billion euros, Chief Financial Officer Neil Sorahan said ahead of the bond issuance. It received demand of 5.2 billion euros, according to two lead managers. In a previous memo, Ryanair said it had hired BNP Paribas, Citigroup and Commerzbank for the sale on Monday.
Persons: Neil Sorahan, ” Sorahan, Colm Rainey, ” Rainey, Michael O’Leary, Abhinav Ramnarayan, Rachel Armstrong, Barbara Lewis, Paul Simao Organizations: Ryanair, Irish, Fitch, Citigroup, TUI Cruises, Bank of England’s, BNP, Commerzbank Locations: DUBLIN, TUI
European stocks slip into negative territory as Asia worries weigh
  + stars: | 2021-05-17 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 14, 2021. REUTERS/StaffThe pan-European STOXX 600 index slipped 0.1%, adding to last week’s marginal losses spurred by a U.S. inflation scare. Irish airline Ryanair edged higher despite reporting a record annual after-tax loss, as it said there were signs the recovery had begun. The wider travel and leisure index fell 1.4% as BNP Paribas downgraded French meal card company Sodexo to “neutral”. Sweden’s Kinnevik slumped 35.2% to the bottom of the STOXX 600 index after the company transferred its stake in online fashion retailer Zalando to shareholders.
Persons: ” Peel, Ian Williams, Sweden’s Kinnevik, Goldman Sachs Organizations: Reuters, REUTERS, Staff, Ryanair, BNP, Bayer Locations: Frankfurt, Germany, U.S, Asia, Europe, China, India, California
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