Link Securities | The presence of far-left party Unidas Podemos in the Spanish government, may force a new push-back in the privatization of the bailed-out lender Bankia (BKIA), scheduled for 2022, according to Spanish newspaper Expasión.
Articles by The Corner
(European Views) | The European Commissioner for Internal Market and Services Thierry Breton has rejected claims that relying on European firms in the ongoing 5G network roll-out would cause substantial delays, commenting on rising tensions in Germany over the possible risks posed by Chinese firm Huawei Technologies.
Morgan Stanley | Looking ahead to 4Q, we expect modest growth in NII (+ 0.5% QoQ) and by 2020 we have -2% (Caixabank -1% and Bankia -3.5% YoY). The growth in commissions will improve by comparable easy and inflows (we expect + 4% YoY on average).
Santander Corporate & Investment | The strong funds outflow from European equities in recent years and the severe relative bad behavior of European markets vis-à-vis American ones has begun to attract the attention of some non-European investors.
Olivia Álvarez (Monex Europe) | The ECB will host its first 2020 monetary policy meeting next Thursday 23rd. The event is unlikely to bring any changes over policy tools after the accommodative package introduced in September, but rather, it could turn the attention towards any changes in the economic outlook facing the Eurozone and the strategic review vowed by new chief Christine Lagarde.
Morgan Stanley | Merlin trades persistently with a discount against its counterparts while offering one of the most interesting return growth profiles (15-20% total return) among those who give a 20% discount.
Nick Malkoutzis (Macropolis) |If completed, the project could help diversify the EU’s energy sources and has so far received backing from the European Union and the United States, which has provided political support for the tripartite alliance through the so-called 3+1 process. But what’s the basis for this tripartite [Greece, Cyprus and Israel]? Is it a case of Greece and Cyprus looking for another partner in the region due to a lack of confidence in the US under the Trump administration?
Ivan Dikov (European Views) | Take a fun look at a wonderful display of the “strong men” frenemy macho state leaders that dominate the world of today in what might be its last decades.
Aidan Yao (AXA) | A sudden rise in tensions has cast a dark shadow over Sino-US relations. While the trade war has been the most eye-catching instance, increased “decoupling” has also occurred in areas of technology, investment and social exchanges as the two countries have put up “walls” against one another. But every cloud has a silver lining.
Jean-François Jolivalt (La Française AM) | The more than 40 days of protests and transport strikes in France against the pension reform proposed by the French Government is an unprecedented event in the recent history of France. Strikes are undoubtedly a burden on consumer confidence. However, the population has adapted to the situation thanks to electronic commerce, distance work, carpooling and car sharing, which are all services or alternatives that are now widely accepted and available.