Busch takes majority stake in Pfeiffer Vacuum; plans strategic cooperation
06 NOV 2018
Pfeiffer Vacuum Technology AG plans to agree on a strategic cooperation with Busch SE that will enable the two companies to work more closely together, particularly in the areas of Purchasing, Sales and Service, Research & Development as well as IT.
In the context of the strategic cooperation, Busch SE has informed Pfeiffer Vacuum Technology AG that its shareholding in Pfeiffer Vacuum Technology AG held via its subsidiary Pangea GmbH has exceeded the threshold of 50% on 2 November, 2018.
Moreover it has been decided to rearrange the organizational structure of the Management Board as of 1 January, 2019. Management Board and Supervisory Board have decided to organize the company according to its global business functions in the future. The new functions Chief Sales Officer, Chief Technology Officer and Chief Operations Officer will be established. CEO Dr. Eric Taberlet will also take over the position as Chief Sales Officer. Dr. Ulrich von Hülsen will be appointed as Chief Technology Officer. The Chief Operations Officer position will initially be filled with an external consultant on an interim basis. At the same time, the search for suitable candidates will be started. Dr. Matthias Wiemer will take care of special assignments until the expiration of his contract on 31 December, 2019.
HSBC Gets Owned by Its Former Pupil
Chinese insurance giant Ping An is now HSBC’s top shareholder, turning the two firms’ former relationship on its head
Sometimes things come full circle pretty quickly in financial markets. Just six years after HSBC HSBC -0.62% sold its 15.6% stake in Ping An , 601318 0.33% the Chinese insurer has become the biggest shareholder in the Asia-focused British bank. Ping An’s nearly $12 billion stake, held via its asset-management arm, has risen to just above 7% of HBSC, according to a regulatory filing, taking it past BlackRock Inc. BLK 0.30% into the top spot on the shareholder register.
Such news might once have fueled talk about Chinese expansionism. Ping An—which manages more than $400 billion, mostly on behalf of its insurance customers—is likely to have a simpler motive. Few stocks in local Chinese markets offer as healthy a dividend as HSBC, which currently yields over 6%. The Chinese firm has built its stake in the bank’s Hong Kong-listed shares partly through trading links with mainland stock exchanges.
Still, some kind of closer cooperation between the two companies—first linked when HSBC bought 10% of Ping An back in 2002—could materialize. HSBC has made about three-quarters of its adjusted earnings in Asia so far this year, and is banking on China for growth; Ping An would surely appreciate HSBC’s retail banking customer base in Hong Kong and elsewhere. HSBC’s chairman, Mark Tucker, is an insurance industry veteran to boot. Rumors that Ping An is looking to expand overseas have been rife this year: It has been linked with potential bids for Commonwealth Bank of Australia ’s general insurance business, and U.K.-based Prudential’s Asian life-insurance arm. The company has consistently played down such talk.
For HSBC, this is a bittersweet moment. The bank sold off its Ping An holding in late 2012, when it was to looking to exit noncore businesses and improve its capital ratios. Since then, Ping An’s shares have risen by more than 250%, despite this year’s slump, taking it above HSBC in the list of the world’s top 10 most valuable financial institutions.
Ping An, meantime, will be hoping its HSBC investment works out better than its last major foray abroad. It had to write off nearly $3 billion after buying insurer Fortis’s European assets in 2008—just in time for the global financial crisis.
Stifel Europe to buy German brokerage Mainfirst Bank - Reuters News
06-Nov-2018 11:20:47
FRANKFURT, Nov 6 (Reuters) - U.S. investment bank Stifel SF.N is buying Mainfirst Bank to build scale in its German and Swiss equity research business, the German brokerage said in a statement on Tuesday.
Financial details of the transaction, which is expected to close in the first quarter of 2019, have not been disclosed. Mainfirst Bank has 200 staff, of which 60 are analysts covering European equities.
The deal has no impact on Mainfirst's asset management unit, which was separated from the brokerage business earlier this year.
To reorganise UK business; remains committed to the UK but with smaller production footprint
The global automotive and industrial supplier Schaeffler, which employs over 92,000 people worldwide, proposes to reorganise its UK business activities as part of its excellence programme "Agenda 4 plus One". This programme includes a global footprint initiative that is examining the strategic and economic competitiveness and long-term sustainability of all Schaeffler locations worldwide. As part of this initiative the Executive Board has decided to reorganise its activities in the UK.
Following the proposed reorganisation, the company will retain a meaningful presence in the UK but will reduce its overall footprint and relocate some of its UK production to other existing sites outside the country. It is anticipated that the reorganisation plans will take up to two years to implement.
The global footprint analysis focused on how best to structure the business in the UK based on various factors including economic conditions, supply and demand, and the decisions OEMs are making. It also took into account that only 15 percent of the goods Schaeffler produces in the UK remain in the country, while the vast majority is exported to continental Europe. The uncertainty surrounding Brexit was one factor amongst others in the analysis of the UK market.
http://bit.ly/2quqnlt : Link
Twitter : https://twitter.com/etholytics
* FINAL HOUSE PROJECTION MODEL- 2018 MIDTERMS
REPUBLICANS- 218
DEMOCRATS- 217
* FINAL SENATE PROJECTION MODEL- 2018 MIDTERMS
REPUBLICANS- 54
DEMOCRATS- 46
Asian stocks traded mixed Tuesday with markets seemingly in a holding pattern after a muted U.S. session ahead of midterm elections. Treasury yields and the dollar were steady.
Equities climbed in Japan and Australia, were little changed in South Korea and Hong Kong, and underperformed in China even as the country’s vice president said Beijing remained ready to discuss a trade solution with Washington. Apple Inc. suppliers in Asia declined on a report the iPhone maker wouldn’t boost some production.
US After Hours : ELF +20%, ATUS +10%, MYL / BKNG +7% are notably higher, while FTDR -20%, MAR / CAR -5% are lower following earnings/guidance
Nikkei +1.14% Hang Seng +0.59% CSI -0.60% Shanghai -0.23% Shenzen -0.36%
Eur$1.1406 CNH 6.9221 CNY 6.9247 JPY 113.38 GBP 1.3063 CHF 1.0045 TRY 5.3290 RUB 65.9913 WTI$ 62.87 -0.36%
S&P +0.14% EuroStoxx +0.31% FTSE +0.09% Dax +0.42% SMI +0.25%
Macro :
- U.K.’s May Is Said to Set Out Brexit Options to Her Divided Team
- German Factory Orders Unexpectedly Rise as Domestic Demand Gains
Keep an eye on :
- ABF LN : AB Foods Sees Adj. EPS for Coming Year In Line
- ABI BB : AB InBev Shares to Be Held Back by EM Volatility: Jefferies
- ADEN SW : Adecco Third Quarter Revenue Meets Estimates
- AEIN GY : Allgeier Third Quarter Sales EU175.6 Mln
- AIR FP : Airbus Plant in China to Raise A320 Rollout in 2020: Country CEO
- ANDR AV : Andritz Cuts 2018 Ebita Margin Outlook on 4Q Cost Charge
- AOX GY : Alstria Office Nine Month FFO I EU88.6 Mln
- ASAI LN : ASA International Sees Net Profit $1.5m-$2m Lower Than Expected
- CS FP : Axa to Spend More on Japan Operations as Elderly-Care Needs Grow
- BAKKA NO : Bakkafrost Cuts Full Year Harvest Forecast
- BALDB SS : Balder Nine Month Net Income SEK7.27 Bln
- BCP PL : BCP CET1 Phased-in Ratio Was 9.14% in ECB’s Adverse Stress Test
- BRAV SS : Bravida Third Quarter Operating Profit Beats Highest Estimate
- CCL LN : Carnival Signs $4.5B Order at CIIE; 12 More Company Deals Signed
- CTM SS : Catena Media Third Quarter Revenue Meets Estimates
- CGR FP : Cegereal: EBA Lease to Bring Total Occupancy Rate to 95.5%
- CLX SS : CLX Communications Third Quarter Net Sales Beat Estimates
- CNCT LN : Connect Group Full Year Adjusted Revenue Meets Estimates
- CSRT LN : Consort Medical Says Brinsmead Becomes Chairman in April 2019
- DPW GY : Deutsche Post Third Quarter Ebit 4.5% Below Estimates
- DLG LN : Direct Line: On Course to Meet 2018, Medium-Term Finl Goals (1)
- DIS US : Fox Moving Toward Extending Deal for World Series: NY Post
- SMDS LN : DS Smith Says Regulatory Process for Europac Deal as Expected
- EZJ LN : EasyJet October Load Factor 90.5% vs 92.5% Year Earlier
- ECONB BB : Econocom Names Founder Jean-Louis Bouchard CEO, Replacing Son
- ZIL2 GY : ElringKlinger Third Quarter Sales Meet Estimates
- ELE SM : Endesa Nine Month Ebitda EU2.79 Bln Vs. EU2.55 Bln Y/Y
- ELE SM : Endesa’s 2018-21 Estimates Raised at Citi After Strong Quarter
- EPIA SS : Epiroc Buys South African Innovative Mining Products
- EUCAR FP : Hertz Weak Post-Market as Avis Results, Forecast Miss Estimates
- EOAN GY : ‘New’ EON More Risky, Morgan Stanley Gives Stock Only Sell View
- EVK GY : Evonik Third Quarter Sales Meet Estimates
- FDP LN : First Derivatives First Half Revenue GBP105.6 Mln
- GAM SW : GAM CEO Alexander Friedman to Leave; David Jacob Interim CEO
- GNK LN : Greene King Says Anand to Step Down From CEO Job in April
- HLNG NO : Hoegh Esperanza Commissioning for FSRU Ops in Tianjin, China
- BOSS GY : Hugo Boss Third Quarter Adjusted Ebitda Misses Lowest Estimate
- HDG NA : Hunter Douglas Nine Month Ebitda $326.9 Mln
- IC DC : IC Group Keeps FY Outlook ‘Despite Weak Performance’
- IMB LN : Imperial Brands FY Adjusted Operating Profit Beats Highest Est.
- IFX GY : Infineon Executive Sees China Stepping Up Protection of IP
- INTO BB : Intervest O&W to Buy Eindhoven Warehouse Project for EU18.9m
- ITP FP : Inter Parfums Full Year Net Sales Forecast Meets Estimates
- IWG LN : IWG Sees Co. Full-Year Results In Line With Expectations
- IWG LN : IWG to Explore Strategic Opportunities, Boost Franchising
- JUN3 GY : Jungheinrich Boosts Full Year Order Intake Forecast
- LEHN SW : Lem Second Quarter Ebit Beats Estimates
- LUX IM : Del Vecchio to Propose Milleri as EssilorLuxottica CEO: Reuters
- LLOY LN : Lloyds to Cut 6,000 Existing Jobs, Create 8,000 New Roles: S
- MS IM : Mediaset Italy Ad Sales Rose 2.5% Jan-Sept
- ML FP : Michelin to Close U.K. Dundee Site Due to Lower Tire Demand
- MCRO LN : Micro Focus Extends Share Buyback Program to February
- MITRA BB : Mithra Shareholders Approve New Plan Of Up to 1.88m Warrants
- MOB SS : Moberg Pharma Third Quarter Ebitda Beats Estimates
- MRW LN : Morrison 3Q Comp Sales Ex-Fuel +5.6%
- MOR GY : MorphoSys Revises Full Year Revenue Forecast
- NXU GY : Nexus Third Quarter Ebit EU3.23 Mln
- NAS NO : Norwegian Air October Traffic Rose 8% to 3.39M Passengers Flown
- NRS NO : Norway Royal Salmon 3Q Operating Ebit Misses Est.
- PNDORA DC : Pandora’s 3Q Weak, Share Price Drop Expected: Morgan Stanley
- PNDORA DC : Pandora Cuts FY Revenue Growth In Constant Currency View
- PFV GY : Pfeiffer Vacuum Third Quarter Ebit 3.5% Above Estimates
- PRS NO : Prosafe Third Quarter Revenue Beats Highest Estimate
- PSG SM : Prosegur Nine Month Net Income EU116 Mln Vs. EU111.1 Mln Y/Y
- PFG LN : Provident Financial Appoints Simon Thomas as CFO
- RESURS SS : Resurs Holding Third Quarter Operating Income Meets Estimates
- ROG SW : Roche Sees 4 to 5 Drugs Approved by China in Next Two Years
- RR/ LN : China Eastern, Rolls-Royce Ink $1.4B Engine, Service Deal
- SHP LN : Takeda Pushes Back as Group Seeks to Stop $62 Billion Shire Deal
- SQZ LN : Serica Buys Marubeni’s Interests in U.K.’s Bruce, Keith Fields
- SGL GY : SGL Carbon Boosts 2018 Revenue, Net Income Guidance (1)
- SGL GY : SGL Nine Month Sales From Continuing Operations EU786.3 Mln
- SREN SW : Swiss Re CEO Mumenthaler Sees Potential to Invest in Asian Firms
- TIT IM : Italy Suspends Ruling That Vivendi Media Stakes Violate Rules
- TTR1 GY : Technotrans Nine Month Ebit EU13.6 Mln
- TRS LN : Tarsus Says Trading to Date Is In Line With Expectations
- TETY SS : Tethys Oil Third Quarter Ebitda 2.4% Above Estimates
- TRYG DC : Tryg Gets Approval for Alka Takeover; Keeps Synergies Guidance
- VCP LN : Victoria Scraps Bond Plan, Will Stick With Existing Facilities
- VID SM : Vidrala Sees Continued Earnings Growth for FY 2018
- RIN FP : Vilmorin First Quarter Sales 2.0% Below Estimates
- VSVS LN : Vesuvius Sees FY Trading Profit In Line With Expectations
- CSS FP : Vivarte to Sell Minelli, San Marina, Cosmoparis: Les Echos
- VIV FP : Italy Suspends Ruling That Vivendi Media Stakes Violate Rules
- VOW3 GY : Volkswagen Plans New Location for Electric Cars: Handelsblatt
- WEIR LN : Weir Third Quarter Orders Y/Y +16%
- WDH DC : William Demant Keeps FY Outlook; Says It Won Market Share
- WMH LN : William Hill Sees GBP20m 2018 Profit Hit From Regulation, Taxes
- YPSN SW : Ypsomed Sees Full Year Ebit CHF73 Mln
- ZAL GY : Zalando Third Quarter Adjusted Ebit Loss Narrower Than Estimates