Privatbank Landolt et Oddo BHF négocient une fusion
La banque privée suisse romande et le groupe financier franco-allemand souhaitent fusionner.
L'objectif de la fusion est de "continuer à construire le premier groupe financier indépendant en Europe avec de fortes racines locales dans tous les pays", comme le cite Philippe Oddo, associé directeur général et PDG d'ODDO BHF. Landolt & Cie représente la "culture de banque privée fortement familiale et entrepreneuriale, qui est très similaire à l'ADN du groupe ODDO BHF", poursuit-il.
Fondé à Lausanne en 1780, l'institut francophone gère aujourd'hui plus de 3 milliards de francs suisses avec 70 collaborateurs à Genève, Lausanne et Zurich.
ODDO BHF, quant à elle, est représentée en Suisse avec son siège à Zurich depuis le rachat de BHF-BANK en 2016. Le groupe emploie 2300 personnes (dont environ 1200 en Allemagne et en Suisse et 1100 en France et en Tunisie) et gère un patrimoine client de plus de 100 milliards d'euros. Environ 65% du capital du Groupe est détenu par la famille Oddo et environ 25% par les salariés. En 2019, le produit net bancaire était de 585 millions d'euros.
DAX:
- Daimler (DAI TH) +2.3%
- German Factory Orders Rebound After Virus Restrictions Loosened
- VW (VOW3 TH) +2.2%
- Continental AG (CON TH) +2%
- Deutsche Bank (DBK TH) +2%
- Deutsche Bank May Not Offset 1H Job Cut Slowdown in 2H: FT
- Adidas (ADS TH) +2%
- SAP (SAP TH) +1.1%
- Deutsche Telekom (DTE TH) +1%
- Vonovia (VNA TH) +0.9%
- E.On (EOAN TH) +0.6%
- Wirecard (WDI TH) -13%
- Wirecard Picks Moelis & Co. for Sale of North America Unit
- Wirecard’s Core Business Incurred Losses For Years: FT
MDAX:
- Gerresheimer (GXI TH) +7.3%
- Gerresheimer gears up for corona vaccine
- Delivery Hero (DHER TH) +3.8%
- Watch Food Delivery Sector on Report Uber Set to Buy Postmates
- Rheinmetall (RHM TH) +3.3%
- HelloFresh (HFG TH) +3.1%
- HelloFresh PT Raised to 58 euros at Bankhaus Metzler
- Symrise (SY1 TH) +2.8%
- Osram (OSR TH) -0.9%
SDAX:
- Steinhoff (SNH TH) +26%
- Deutz (DEZ TH) +4.2%
- Hamburger Hafen (HHFA TH) +3%
- Hamborner REIT (HAB TH) +2.8%
- Bilfinger (GBF TH) +2.3%
- Draegerwerk (DRW3 TH) +0.6%
- Draegerwerk Raised to Buy at Bankhaus Metzler; PT 90 euros
- Zeal Network (TIMA TH) -3%
Gerresheimer (GXI TH) +6.3%
Gerresheimer gears up for corona vaccine
Rolls-Royce (RRU TH) +4.7%
Rolls-Royce Mulls Fundraising Options Amid Aviation Downturn (2)
Rolls-Royce Seeks Pension Halt to Save Cash in Virus Crunch (1)
Delivery Hero (DHER TH) +4.3%
Watch Food Delivery Sector on Report Uber Set to Buy Postmates
HSBC Holdings (HBC1 TH) +3.8%
HSBC, Deutsche, UniCredit’s 61,000 Job Cuts Are Tip of Iceberg
Adyen (1N8 TH) +3.7%
Signify (G14 TH) +3.7%
AstraZeneca (ZEG TH) +3.4%
U.S. Should Build Up Antibody Therapy Supply, Ex-FDA Chief Says
Carnival Plc (POH1 TH) +3.2%
HelloFresh (HFG TH) +3.2%
Neste (NEF TH) +2.9%
Orsted (D2G TH) -1.2%
Taylor Wimpey (TWW TH) -1.8%
Watch U.K. Homebuilders on Report Tax Threshold Could Be Raised
Call for EU recovery fund to focus on cross-border projects
Eurogroup presidency candidate says national interests should not interfere with broader goals
Europe must focus its €750bn post-Covid recovery spending on projects of real cross-border value, Luxembourg’s finance minister has warned, saying that national haggling over funds should not be allowed to derail broader objectives.
Pierre Gramegna, one of the three candidates to become the next president of the eurogroup of finance ministers, told the Financial Times that the importance of recovery fund money going to projects that truly support the continent’s green and digital transitions “has not been highlighted enough”.
“As we are talking about hundreds of billions of euros that need to be invested in this twin transition, I think that it is important that we have a European dimension to these investments that we want to finance,” he said. “We should not only look at these investments on a national basis: what does this country get, what does this other country get. We should also have a cross-border approach on how this money is spent.”
The spending of that money, and the eurozone’s broader recovery efforts, will be top issues in the next eurogroup president’s in-tray. EU leaders will meet at the end of next week to try to hammer out a deal on the plans, which are wrapped up with negotiations on the bloc’s next seven-year budget.
Much of the attention in the negotiations has focused on the allocation criteria used to share out recovery money that the EU will borrow on the capital markets, with national diplomats poring over documents showing the knock-on effect they could have on the amounts flowing to specific countries.
The plans are also facing resistance from some of the main net-contributors to the EU budget — the so-called Frugal Four of Denmark, Austria, the Netherlands and Sweden — which are opposed to Brussels’ plan to disburse a substantial chunk of the recovery money in grants rather than loans.
Mr Gramegna, whose own country’s strong economic fundamentals mean that it is unlikely to be a large recipient of EU recovery funding, said the use of the money needed to be “efficient”.
“When you think of it, the digital transition, that’s infrastructure needs. If you think of climate change, well it's useless that one country does something and many others don't.”
One of the longest serving finance ministers in the eurozone, Mr Gramegna is nonetheless seen as the underdog in the eurogroup contest, which will come to a head when ministers vote on Thursday.
With current president Mário Centeno of Portugal standing down, the other candidates to replace him are Spain’s Nadia Calviño, who has support from France, Germany and Italy, and Paschal Donohoe of Ireland, who belongs to the EU’s large centre-right political family, the European People’s party.
Whoever wins will take on one of the most important policymaking roles in the eurozone, chairing monthly meetings of the body that handles everything from economic convergence to the politics of sovereign bailouts.
Mr Gramegna pointed to his record as a veteran of the eurozone sovereign debt crisis, and as a bridge builder among the group’s different members.
“I’m the most experienced finance minister of the three, having been in the eurogroup for more than six years, having lived through the euro crisis, the Greek crisis, having been part of all major decisions,” he said, noting also his background as a professional diplomat.
Asked if he was staking out similar territory to Mr Donohoe, also from a smaller, economically liberal country, Mr Gramegna said it could be argued that Luxembourg had shown more “flexibility” on some policy issues, including on French-backed plans for a European digital tax.
Mr Gramegna said the economic recovery would be far from the only issue on the eurogroup’s agenda in the months ahead. Continuing challenges, he said, included the completion of the currency area’s banking union, work on creating a single European capital market and promoting the international role of the euro.
“The euro has overcome its teenage crisis,” he said, in reference to the years of strain that followed the 2008 financial crash. “If we see the international tensions that exist between Europe and the United States, between the US and China, and also to a certain extent between China and Europe, the only way we can make our continent stronger is by strengthening the euro, the euro area and the European Union.”
>>> Up
* AB Foods Raised to Sector Perform at RBC; PT 2,200 pence
* Coca-Cola European Raised to Buy at ABN Amro Bank; PT $46.28
* Draegerwerk Raised to Buy at Bankhaus Metzler; PT 90 euros
* HelloFresh PT Raised to 58 euros at Bankhaus Metzler
* Maersk Raised to Buy at Deutsche Bank; PT 9,500 kroner
* Topdanmark Raised to Buy at SEB Equities; PT 307 kroner
>>> Down
* Boohoo Cut to Hold at Liberum; PT 350 pence
* DS Smith Cut to Hold at Jefferies; PT 310 pence
* Energean PLC Cut to Sector Perform at RBC; PT 700 pence
* Mycronic Cut to Hold at Handelsbanken; PT 180 kronor
* Sobi Cut to Hold at ABG; PT 201 kronor
* Softcat Cut to Sell at Citi; PT 957 pence
* SoftwareONE Cut to Neutral at Citi; PT 24.40 Swiss francs
* SyntheticMR Raised to Buy at Pareto Securities; PT 310 kronor
* Vetrya Cut to Hold at UBI Banca; PT 4.30 euros
>>> Initiation
* Cembra Money Bank Resumed Buy at Deutsche Bank
* Computacenter Rated New Buy at Citi; PT 2,008 pence
>>> Call
* AB Foods Upgraded at RBC on Likely Stronger Primark Recovery
* BP, Eni, Repsol in Focus For Potential Dividend Cuts, RBC Says
* DS Smith Cut at Jefferies Amid Virus Costs, Lower Export Prices
Euro Stoxx 50 futures climb 2.3% as of 4:49 am in London, tracking gains in Asia and in U.S. Futures, as investors weighed expectations for ongoing policy support amid increasing number of global coronavirus cases.
Shares in Shanghai surged amid positive commentary on the market from state media
Equities gauges in Japan, Hong Kong, Taiwan and South Korea also climbed
S&P 500 future contracts advance 1.2%; contracts on the Nasdaq 100 and the Dow Jones are up 1.3% and 1.4%, respectively
Nikkei +1.90% Hang Seng +2.76% CSI +4.35% Shanghai +4.38% Shenzen +3.01%
Eur$ 1.1286 CNH 7.0465 CNY 7.0463 JPY 107.69 GBP 1.2494 CHF 0.9433 RUB 71.1050 WTI$ 40.52 -0.32%
S&P +1.07% Nasdaq +1.18% EuroStoxx +2.20% FTSE +1.52% Dax +2.06% SMI
Macro :
- JPMorgan Says Global Liquidity Surge to Boost Stocks and Bonds
- Goldman Lowers U.S. GDP Forecast, Sees 4.6% Contraction in 2020
- Bicycles Are Pushing Aside Cars on Europe’s City Streets
- CVC Capital Is Said to Close Record 21 Billion-Euro Buyout Fund
- Prince Andrew Sought Washington Lobbyist to Help With Epstein Case
- Goldman Says U.S. Tensions Won’t Hurt China Stocks Too Much, Yet
Keep an eye on :
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- CCL LN : Carnival Says Costa Extends Pause for Cruises Until Aug. 15th
- CINE LN : Cineplex Starts Litigation Against Cineworld Over Failed Merger
- CBK GY : CySec Fines Commerzbank EU650,000 for Market Manipulation
- CBK GY : Commerzbank's CEO and Chairman to Resign Amid Pressure From Activist Cerberus
- CBK GY : Commerzbank Aims to Fill Power Vacuum in Crucial Week
- DBK GY : Deutsche Bank May Not Offset 1H Job Cut Slowdown in 2H: FT
- DIS US : How Disney Could Be Facing a Lot More Than a Lost Summer
- EIT IM : EI Towers in Talks with Phoenix to Sell Mobile Sites: Radiocor
- FABG SS : Fabege First Half Rental Income SEK1.41 Bln, -2.8% Y/y
- GEBN SW : Geberit Prelim First Half Sales CHF1.47 Bln
- IAG LN : IAG’s Iberia May Access Government Aid to Close Merger: El Pais
- IBE SM : Iberdrola to Invest 10B Euros a Year for Clean Energy Push: FT
- ISP IM : Intesa Says Its Bid Creates Value for UBI’s Shareholders
- JMAT LN : Fuel Cell Stock Rallies to 17-Year High After China Order (1)
- JUP LN : Silchester Now Holds 16.41% Rights in Jupiter Fund From 19.21%
- KVAER NO : Kvaerner Sees 2Q Revenue of About NOK1.5b
- LHA GY : Lufthansa CEO Finds 9.99 Euro Flights Irresponsible, NZZ Says
- MONC IM : Moncler Gets Revolving Credit Facility for Max EU400M W/ Intesa
- NOKIA FH : U.K. Prepares to Start Huawei 5G Phase-Out as Soon as This Year
- NOKIA FH : France’s Anssi: Huawei 5G Equipment Won’t be Totally Banned
- NDA SS : Nordea to Acquire Pension Portfolios From Frende in Norway
- NOS PL : NOS Says Banco BPI Has 5% of Voting Rights in The Company
- ORA FP : France’s Anssi: Huawei 5G Equipment Won’t be Totally Banned
- ORP FP : Orpea Eyes 50% Stake in Ireland’s Brindley Healthcare: Times
- QIA GY : Qiagen Holder Calls for Thermo Fisher to Increase Bid: Reuters
- RR/ LN : Rolls-Royce Mulls Fundraising Options Amid Aviation Downturn
- RR/ LN : Rolls-Royce to Make Pension Changes to Save Cash: S. Telegraph
- SAF FP : Safran’s French Unions Agree on Voluntary Departures Plan: AFP
- SAF FP : Safran Chairman McInnes Sees Aviation Recovery in 2023-24
- SPM IM : Saipem Wins $325m Contract in Brazil
- SAN FP : Glaxo, Sanofi Near 500 Million Pound U.K. Vaccine Deal: Times
- SOON SW : Sonova Sees 1H Positive Adj. EBITA Margin in Single Digits
- SCMN SW : Sunrise Getting ‘Hundreds’ of New Clients After Swisscom Outages
- SREN SW : Swiss Re to Redeem CHF175m 7.50% Securities Due 2045 on Sept. 1
- TKWY NA : Uber is Said to Agree to Buy Postmates for $2.65 Billion (2)
- TEL2B SS : Tele2 Names Kjell Morten Johnsen New CEO as Nilsson Steps Down
- TEL NO : Telenor Sells Norway Portfolio of Properties With NOK1.4b Value
- TSLA US : Tesla's Overexcited Fans Should Cool Down a Little: Chris Bryant
- UBI IM : UBI to Speed up Review of M&A if It Stays Independent: CEO
- VOW3 GY : Bosch to Cut 1,850 German Jobs Via Natural Attrition: FAZ
- WIHL SS : Wihlborgs First Half Income From Property Management SEK934 Mln
- WDI GY : Wirecard’s Marsalek Didn’t Enter Philippines Last Week: FT
- WDI GY : Wirecard Picks Moelis & Co. for Sale of North America Unit
- WDI GY : Wirecard’s Core Business Incurred Losses For Years: FT