The 2017 hurricane season will cost a bundle but, according to Carax Alphavalue “when looking at a 5-year chart of the European Reinsurers’ performance, it is clear that the profit-taking temptation was a strong one.” Even after losing 12% since their recent (pre-storms) peak, the sector has outperformed the Stoxx600 by about a third.
As long as there is no perfect equivalence between supply and demand, inflation will form part of our system, according to Robeco.
Hurricane Irma is likely to be the most damaging not only in terms of US population in risk but also of economic impact. Catastrophe bonds will be very useful as they usually “mitigate the risk of natural disasters by taking on losses that otherwise would be borne by primary insurers,” as stated by Julius Baer’s analysts.
Iberdrola is sounding out possible acquisition opportunities in the European energy sector and Innogy is on its radar. According to financial sources, the Spanish firm could be interested in launching a bid for the German utility company.
Any sharp movement in exchange rates usually has an impact, in the short-term, on global firms’ stock prices. This is true for those included in the major indices of reference, companies which sell, produce and make profits throughout the world.
Yiannis Mouzakis via Macropolis | Last Friday’s release of the second quarter Greek GDP figures by ELSTAT confirmed that the economy has recorded two consecutive quarters of growth. The last time Greece started a year with two quarters of growth was in 2006.
Craig Moran | It seems that three was the magic number for South Korean consumers eager to see the fall of Lee Jae-yong, the de-facto head of Samsung Group. On August 25, Lee was convicted of bribing ousted President Park Geun-hye and was sentenced to five years in prison.
Stan Fisher the Fed’s vice president has decided to resign at mid-October for personal reasons. This will dramatically change the internal equilibrium of the Fed’s board.
The French government sold 99,9 million shares, or 4.1 pct, of Engie via an accelerated placement at the market’s close on Tuesday September 5. The company decided to participate in the operation, buying 11.1 million shares, or 0.46% of capital, representing 11% of the whole placement.
Nick Ottens via Atlantic Sentinel | Germans are more centrist and optimistic than most Europeans. The French and the Spanish have yet to feel the economic recovery and are more inclined to vote for parties on the far left and the far right. The Italians are even more pessimistic, yet they remain wary of extremes.