From the Securities Lending Trading Desk

Mega merger news this week in the health care sector as CVS Health announced plans to acquire Aetna for $69 billion in cash and stock. We are seeing shares in Samsung Heavy Industries plung to a record low after the company announced plans to raise much needed capital.  Meanwhile in Europe, the Steinhoff CEO resigned following the company admitting accounting irregularities. 

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From the Securities Lending Trading Desk

Combined Cycle Power Plant

This week in Europe, Portuguese energy grid operator Redes Energeticas Nacionais set their subscription price for its capital raising.  The trading period opened which has driven securities lending demand. We are seeing Skylark Co Ltd shares fall in Tokyo trading after Bain Capital announced plans to sell its full 20% holding via a share placement.  Meanwhile in the US, Accelerate Diagnostics, Inc. (AXDX) has become a focus of directional demand amid price volatility, a trend a we often see with stocks in the Biotech sector.

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From the Securities Lending Trading Desk

In the US, CBS launched an exchange offer to separate its radio business as part of its plan to combine CBS Radio with Entercom Communications, leading to increased demand for CBS and ETM. Line Corp, Japan’s top mobile app company, saw its share price rally last week; however some investors remain sceptical over its prospects. The world’s oldest bank, Banca Monte Dei Paschi, returns to action, 10 months after being suspended.

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From the Securities Lending Trading Desk

Air Traveling to Asia cities - China Hong Kong

This week, Asia’s largest international airline continues to face challenges after reporting a further decline in passenger numbers last month. We are seeing more fundamental demand for medical device company, MiMedx Group Inc. (MDXG) amid share price volatility, due to negative press. Meanwhile in Europe, a bidding war for Spanish toll and road operator Abertis is driving securities lending demand.

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From the Securities Lending Trading Desk

car

This week, automotive retailers were in focus as fundamental demand heats up amid speculation recent rallies are overdone and with the listing of CarGurus. We are seeing China’s Great Wall Motor Company Ltd shares hit a two year high following news of a potential joint venture with BMW AG.  Meanwhile in Europe, securities lending demand increases ahead of rights record date for South African investment holding company Stadio Holdings.

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From the Securities Lending Trading Desk

In the Americas, we are seeing strong broker demand for Roku Inc. as the share price fell roughly 20%, reversing the nearly 90% gain over the first two days of trading. This week, shares for Japan Display Inc. group soared a record amount after reports that affiliate, JOLED, is planning to raise funds for mass production of next-generation OLED panels. Meanwhile in Europe, Elis, the rental and cleaning company, will offer Convertible 2023 Bonds for up to EU400M.

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