Testing 200-day SMA, hasn't fallen below it since Sept 2013
La banque a écopé d’une amende de 1,76 million d’euros pour ne pas avoir mené ses activités conformément à la documentation fournie aux clients. Les dark pools sont de plus scrutés par les autorités.
Les régulateurs aiguisent de plus en plus leur œil pour contrôler les activités des dark pools. Pas plus tard qu’aujourd’hui, le gendarme boursier de Hong Kong (la SFC) a annoncé avoir infligé une amende de 1,76 million d’euros à une division de BNP Paribas pour ne pas avoir mené ses activités conformément à la documentation fournie aux clients. L’établissement français, qui a coopéré durant toute l’enquête, s’est par ailleurs engagé à embaucher un examinateur indépendant pour évaluer l’activité de sa plateforme alternative, ajoute le communiqué.
Dans le détail, la Securities and Futures Commission rapporte que BNPP Securities Asia avait indiqué à ses clients que les ordres passés via les services de trading de son dark pool seraient exécutés en fonction de leur prix. Or, entre novembre 2009 et avril 2011, la priorité pour l’exécution a été accordée en fonction de la taille des ordres. Ainsi certains clients ont payé un prix plus élevé afin de s’assurer que leurs ordres seraient exécutés rapidement,
ce qui n'a pas été le cas.
BNPP Securities Asia a suspendu les services de BIX en avril 2011 lorsqu’il a découvert que les ordres n’étaient pas passés en fonction de ce qui avait été annoncé. Il aura fallu sept mois avant que le dark pool reprenne pleinement du service et 21 mois pour que le gendarme en soit tenu informé.
BNP Paribas n’est pas la seule grande banque à s’être fait taper sur les doigts pour sa plateforme anonyme de négoce. En janvier, UBS a accepté de régler 14,4 millions de dollars pour mettre fin à une enquête de la SEC, le gendarme boursier US. La banque suisse n’aurait pas donné à tous les participants de sa dark pool les mêmes informations, créant ainsi des inégalités entre acteurs
) BASFn.DE MON.N SYNN.VX - RTRS
03-AUG-2015 16:16:40
FRANKFURT, Aug 3 (Reuters) - German chemicals group BASF BASFn.DE has lined up a loan package from large multinational banks for a potential takeover offer for Syngenta SYNN.VX, the Swiss crop chemicals maker which has received a $45 billion takeover offer from Monsanto MON.N, several people familiar with the matter said.
"BASF has committed financing in place to buy Syngenta," one of the people said, asking not to be identified because the negotiations are confidential.
BASF will only decide to submit a bid for Syngenta if Monsanto makes an offer for the Swiss group, the sources said, adding that BASF was comfortable with there being no merger at all and the status quo in the industry prevailing.
"BASF will not be a first mover but remain a reactive player," one of the people said.
BASF and Syngenta declined to comment.
Monsanto wants to combine its world-leading seeds business with Syngenta's pesticides business. Syngenta has rejected the proposal and refused to open its books, despite the offer of a $2 billion cash payment should the transaction fail to win regulatory approval.(Full Story)
RTRS - BASF BASFn.DE LINES UP FINANCING FOR A POTENTIAL SYNGENTA SYNN.VX TAKEOVER - SOURCES
IBM Hearing vague chatter an activist could be building a stake- Value Act rumored as interested
A Fed Rate Hike Might Be Good for Stocks, RBC’s Golub Says
2015-08-03 13:08:25.724 GMT
By Joanna Ossinger
(Bloomberg) -- U.S. stock valuations increase as rates rise
from below-avg levels historically over past 50-60 yrs; shape of
curve in response to liftoff probably matters more than timing,
RBC U.S. market strategist Jonathan Golub writes in note.
* “If central bank policy is of limited benefit, its removal
should do limited harm”
* Europe stocks “far more sensitive” to rate changes than
U.S. ones
* VIX doesn’t necessarily rise along w/ rates
* “If all this money printing mattered, you’d likely have
seen stronger GDP and inflation”
* Some point to Europe’s “recent success” w/ QE, though
data indicate “growth was simply reallocated from the
U.S. on the back of a weaker Euro”
* Fed hesitant to hike due to productivity collapse in U.S.,
globally
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Joanna Ossinger in New York at +1-212-617-7789 or
jossinger@bloomberg.net
To contact the editor responsible for this story:
Joanna Ossinger at +1-212-617-7789 or
jossinger@bloomberg.net
2015-08-03 13:08:25.724 GMT
By Joanna Ossinger
(Bloomberg) -- U.S. stock valuations increase as rates rise
from below-avg levels historically over past 50-60 yrs; shape of
curve in response to liftoff probably matters more than timing,
RBC U.S. market strategist Jonathan Golub writes in note.
* “If central bank policy is of limited benefit, its removal
should do limited harm”
* Europe stocks “far more sensitive” to rate changes than
U.S. ones
* VIX doesn’t necessarily rise along w/ rates
* “If all this money printing mattered, you’d likely have
seen stronger GDP and inflation”
* Some point to Europe’s “recent success” w/ QE, though
data indicate “growth was simply reallocated from the
U.S. on the back of a weaker Euro”
* Fed hesitant to hike due to productivity collapse in U.S.,
globally
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Joanna Ossinger in New York at +1-212-617-7789 or
jossinger@bloomberg.net
To contact the editor responsible for this story:
Joanna Ossinger at +1-212-617-7789 or
jossinger@bloomberg.net
Gapping down
In reaction to disappointing earnings/guidance: TREX -11.8%, TSN -8.7%, CPGX -7.2%, L -2.3%, BSFT -2.3%, NSP -0.9%, GWR -0.5%
M&A news: NOK -1.1% (divests HERE to automotive industry consortium for EUR 2.8 bln)
Select metals/mining stocks trading lower: GFI -6.2%, IAG -2%, FCX -1.7%, GOLD -1.6%, RIO -1.6%, BHP -1.5%, VALE -1.1%, X -0.9%, MT -0.8%
Select oil/gas related names showing early weakness: SLB -2.1%, SSL -1.7%, BP -1%, OAS -0.5%
Other news: ABGB -22.7% (announces EUR650 mln capital raise), NBG -5% (Greece stock mkt opens; down 15% overseas), WBAI -4% (Chinese mkts weak overnight), ITEK -3.7% (may be attributed to offering), GREK -2.8% (Greek stock mkt opens up after 5 week lay off; stocks fluctuate down 15-20%+), BIDU -0.9% (Chinese mkts weak overnight)
Analyst comments: LINE -2.5% (downgraded to Sector Perform from Outperform at RBC Capital Mkts ), IMGN -1.6% (downgraded to Hold from Buy at Cantor Fitzgerald
)
In reaction to disappointing earnings/guidance: TREX -11.8%, TSN -8.7%, CPGX -7.2%, L -2.3%, BSFT -2.3%, NSP -0.9%, GWR -0.5%
M&A news: NOK -1.1% (divests HERE to automotive industry consortium for EUR 2.8 bln)
Select metals/mining stocks trading lower: GFI -6.2%, IAG -2%, FCX -1.7%, GOLD -1.6%, RIO -1.6%, BHP -1.5%, VALE -1.1%, X -0.9%, MT -0.8%
Select oil/gas related names showing early weakness: SLB -2.1%, SSL -1.7%, BP -1%, OAS -0.5%
Other news: ABGB -22.7% (announces EUR650 mln capital raise), NBG -5% (Greece stock mkt opens; down 15% overseas), WBAI -4% (Chinese mkts weak overnight), ITEK -3.7% (may be attributed to offering), GREK -2.8% (Greek stock mkt opens up after 5 week lay off; stocks fluctuate down 15-20%+), BIDU -0.9% (Chinese mkts weak overnight)
Analyst comments: LINE -2.5% (downgraded to Sector Perform from Outperform at RBC Capital Mkts ), IMGN -1.6% (downgraded to Hold from Buy at Cantor Fitzgerald
)
Gapping up
In reaction to strong earnings/guidance: PERI +11.7%, FTR +5.7%, NTP +5.1%, ARRY +3.1%, CAMT +2.8%, SHLD +1.1%, ON +0.7%, DO +0.7%, HSBC +0.6%, .
M&A news: GAI +85% (receives preliminary non-binding 'Going Private' offer for shares of the company for $8.75/share), PRE +2.1% (reaches a definitive agreement with EXOR S.p.A. (EXOSF) to be acquired for $140.50/share), NICE +0.9% (divests its Physical Security business unit to Battery Ventures for potential value of up to $100 mln; also issues guidance)
Other news: LXRX +26.8% (Lexicon Pharma and Ipsen (IPSEY) report positive results from TELESTAR Phase 3 Study; meets primary endpoint), OSUR +11.1% (receives US FDA Emergency Use Authorization, for its OraQuick Ebola Rapid antigen test for use with fingerstick and venous whole blood ), BVXV +10.1% (announces 3 year followup, statistical analysis of results from a study of BVX-005), FIT +3.6% (cont vol post IPO), ISIS +1.9% (ISIS Pharm and AstraZeneca (AZN) enter into strategic collaboration to discover and develop antisense therapies for cardiovascular, metabolic and renal disease), UN +1.7% (still checking), PTN +1.3% (files for ~18.63 mln share common stock offering by selling shareholders), GPRO +1% (cont strength)
Analyst comments: MBLY +3.2% (hearing positive note from MS), AIZ +1.4% (upgraded to Buy from Underperform at BofA/Merrill), RAS +1% (upgraded to Buy from Neutral at Ladenburg Thalmann), AMCX +0.9% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
In reaction to strong earnings/guidance: PERI +11.7%, FTR +5.7%, NTP +5.1%, ARRY +3.1%, CAMT +2.8%, SHLD +1.1%, ON +0.7%, DO +0.7%, HSBC +0.6%, .
M&A news: GAI +85% (receives preliminary non-binding 'Going Private' offer for shares of the company for $8.75/share), PRE +2.1% (reaches a definitive agreement with EXOR S.p.A. (EXOSF) to be acquired for $140.50/share), NICE +0.9% (divests its Physical Security business unit to Battery Ventures for potential value of up to $100 mln; also issues guidance)
Other news: LXRX +26.8% (Lexicon Pharma and Ipsen (IPSEY) report positive results from TELESTAR Phase 3 Study; meets primary endpoint), OSUR +11.1% (receives US FDA Emergency Use Authorization, for its OraQuick Ebola Rapid antigen test for use with fingerstick and venous whole blood ), BVXV +10.1% (announces 3 year followup, statistical analysis of results from a study of BVX-005), FIT +3.6% (cont vol post IPO), ISIS +1.9% (ISIS Pharm and AstraZeneca (AZN) enter into strategic collaboration to discover and develop antisense therapies for cardiovascular, metabolic and renal disease), UN +1.7% (still checking), PTN +1.3% (files for ~18.63 mln share common stock offering by selling shareholders), GPRO +1% (cont strength)
Analyst comments: MBLY +3.2% (hearing positive note from MS), AIZ +1.4% (upgraded to Buy from Underperform at BofA/Merrill), RAS +1% (upgraded to Buy from Neutral at Ladenburg Thalmann), AMCX +0.9% (upgraded to Overweight from Equal-Weight at Morgan Stanley)