Bullish sentiment for U.S. assets leads to increased IPO activity. In Asia, one of Japan’s largest car airbag manufacturers filed for bankruptcy on Monday. China’s domestic equities will join MSCI’s benchmark indexes, marking a landmark step in the continued integration of the nation with the global financial system. The Finnish construction company, Yit Oyj has sought to acquire Lemminkainen Oyj as it bids to increase its footprint in northern Europe.
As Sears Holdings’ struggles continue, we are seeing increased bearish sentiment for companies with exposure to the retailer, specifically REIT, Seritage Growth Properties. Borrowers are seeking shares of Toshiba Corp after plans to sell its memory-chip business took an unexpected turn last week. In Europe, capital raising deals are driving securities lending demand. Continue reading
The Chinese government plans to halt issuing permits to produce electric vehicles because of concern that additional approvals may impact the world’s biggest auto market. As the S&P Dow Jones Indices made changes to the S&P MidCap 400 and S&P SmallCap 600 indices, we have seen increased demand on several names as funds adjustment their positions. In Europe, securities Lending Interest in UBI Banca increases amid speculation of a rights issuance.
Broker demand for Pandora Media (P) is increasing as the share price declines on the back of monthly usage falls. Shares in Singapore-listed Noble Group, the beleaguered commodities trading firm, continue to slide and its woes deepened further as several brokerages suspended research coverage of the company. In Europe, a resurgence in rights issues gives rise to securities lending demand. Continue reading
Garrett Berkery warns that asset managers should not underestimate the coordination required to comply with the new reporting requirements for securities financing transactions.
Check out his recent post to On the Regs, a blog covering the latest developments in the world of financial regulation, with a special focus on asset management. Continue reading
Directional demand remains strong for Under Armour, Inc., as their share price has been unable to rebound after a sharp decline in January. China Evergrande Group shares have surged 141% so far this year despite strong short interest. In Europe, securities lending demand increased after Convertible bond placements.
Shares in Chinese selfie app producer Meitu Inc fell sharply in trading last week amidst confusion from MSCI, the leading index provider, on whether the company will be included in one of its indices next month. After trading special for the past six months, fee levels have eased for Valvoline Inc. (VVV). Also in the US, concerns regarding slowing sales and possible cuts to federal funding are driving directional demand for solar energy companies. Continue reading
Merger news continues to drive Securities Lending demand in the U.S. Fee levels are spiking quickly for recent IPO, Snap Inc. as the share price tumbled after the company reported a $2.2 billion loss. The world’s second-largest shipbuilder, Hyundai Heavy Industries, has split into four companies as it seeks to navigate through one of the most prolonged slumps in the industry. In Europe, everyone is talking about TalkTalk Telecom’s dividend scale back.
This week, shares of Angie’s List Inc. (ANGI) trended higher following the announcement of plans to merge with IAC’s (IAC) HomeAdvisor. We have seen strong lending demand for Property developer Fullshare Holdings Ltd. as it rallied after shares resumed trading. In Europe, the Brexit is looming over Intu and demand for securities lending has increased. Continue reading