Market Recap 28/10/2018

US Even though the end-of-October rate increase to 2.25%, it did not catch the market by surprise, the markets experienced some turmoil in the following weeks. Since our last recap on 07/10/2018, there has been a significant correction in the major global indices, most prominently in the US, as you can see on chart below. […]

Russian Bear is Back

In this article, we will suggest some reasons to consider an investment in the Russian economy, by first introducing the international economic environment, then the specific Russian economy and finally provide an investment strategy. Why to Invest in Russia? The purpose of the article is to show why an investment in Russia could be very […]

When Cyclicality Becomes Attractive

In this article we analyze the so called “sector rotation”, which can be seen in the US stock market since the second half of 2018 and we try to exploit this phenomenon by identifying some interesting investment opportunities in the undervalued sectors. More specifically, in the first part of the article we give some basic […]

Coffee market heating up: Lavazza takes a $650m bite out of Mars

Introduction On October 1, 2018, leading Italian coffee company Lavazza announced its acquisition of Mars Drinks, the renowned coffee businesses of Mars Incorporated. The deal entails Lavazza’s acquisition of the single-serve Flavia machine and the Klix freestanding Vending machine businesses – two leading brands in the Office Coffee Service (OCS) and Vending segments – and […]

Race towards driverless cars: Honda’s $2.75bn investments in General Motors’ self driving unit

Honda Motor Co Ltd: Market Cap as of 12/10/18 – JPY 5.601tn General Motors Co: Market Cap as of 12/10/18 – $44.95bn Introduction On October 3rd Honda announced a $2.75 billion investment in General Motors Cruise self driving unit, obtaining a 5.7% stake in the company. The transaction was conducted to develop together autonomous vehicles […]

The first British carmaker to ever hit the Market: how much will it take for the new Aston Martin IPO to go from zero to FTSE?

Aston Martin Lagonda Global Holdings Plc (AML: GB) – market cap as of 8/10/2018: €3.6bn Introduction Aston Martin Lagonda Global Holdings Plc, one of the world’s leading manufacturers of luxury sports cars, completed its Initial Public Offering on the London Stock Exchange on October 3rd, 2018. The issue price of £19 a share corresponds to […]

The Black-Scholes Model in VBA

The aim of this article is to walk the reader through the implementation of the Black-Scholes model for option pricing in VBA. Firstly, we’ll recap the theoretical framework. Secondly, we’ll provide the code to put the theory into practice and show some basic (but hopefully relevant) applications. The Theory – Pricing The classical Black-Scholes model […]

Michael Kors makes high-end fashion statement with €1.83bn acquisition of Italian fashion house Versace

Michael Kors Holdings Limited (NYSE:KORS) – market cap as of 02/10/2018: USD9.954bn Gianni Versace SpA   Introduction On September 25, 2018 the handbag maker Michael Kors Holdings Limited signed an official agreement to purchase all of the outstanding shares of the Italian fashion house Gianni Versace SpA for a total EV of €1.83bn. The deal […]

Comcast moves next in the global media chess game: the acquisition of Sky

Comcast Corporation (NASDAQ: CMCSA) – market cap as of 03/10/18: USD 163.67bn Framework In order to further understand the dynamics behind the acquisition of Sky by Comcast, it’s useful to provide some context and shed some light on the series of events that started in the winter of 2016 and culminated with this deal. The […]

Adobe acquires Marketo for $4.75bn: a massive marketing mashup to cope with rising customers’ expectations

Adobe System [ADBE: NASDQ] – Market Cap as of 30/09/2018 $131.772bn Introduction  On September 20, 2018, the American multinational computer software company Adobe Systems, announced that it had entered into an agreement to buy the B2B marketing engagement cloud platform Marketo from Vista Equity Partners, in a transaction valued at approximately $4.75bn. About Adobe System Adobe […]

Market Recap 07/10/2018

US On Monday 1st October, the auction of three- and six-months treasury bills took place. The former have been issued with an average yield of 2.175% against 2.18% of the previous sitting while six-months have been issued averagely at 2.335% compared to 2.32%. Wednesday the EIA published data about WTI stock, which increased by 7.975M […]

Brazil’s “Real” Struggle: what’s next?

In this article we are going to analyse Brazil’s next General elections, scheduled to be held on October 7 (i.e. today). The first section will present some basic information about Brazil and a brief background on the current political situation. The second part will present key factors on the Brazilian economy and about the functioning […]

Market Recap 30/09/2018

UK Brexit talks continued and the Prime Minister Theresa May has been under increasing pressure during the week, amid Conservatives Annual Conference where her speech will be under scrutiny. Mr Johnson, the former foreign secretary, affirmed itself against the Chequers plan for Britain’s relations with the UK after it leaves the EU in a regular […]

Level Up! Polish Example

  This article analyses the economic landscape in Poland. It presents the figures that led FTSE Russell to review the outlook on this no-longer-emerging market. When discussing The FTSE Quality of Market criteria, the author focuses on parameters improvement, which resulted in the upgraded outlook of the Polish economy. The next paragraphs focus on more […]

What is the Real Value of Greek Banks?

Greek Banking Sector The Greek banking system is built around four large systemic banks, whose summary statistics you can see in the table below. All four banks have undergone a significant restructuring process, whereby both the asset value and the market capitalization went down a lot. In addition, a number of reverse stock splits that […]

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