Merger of BM & FBovespa and Cetip would bring synergies of R $ 152 million per year
A merger between Brazilian stock exchange BM & FBovespa (BVMF3) and Cetip (CTIP3), which operates the OTC assets and derivatives, would generate annual synergies before taxes in the amount of R $ 152 million per year. Calculations are the Equity Re loan credit insurance search Desk, expert advice on grants and capital markets, to the financier.
The grant announced yesterday have sought Cetip to begin "negotiations" for a possible union of the two operations. The news was well received by the market and both stocks rose strong. Shares in Bovespa soared 8.77% and the Cetip, leveraged 8.36%.
The doubt about the gain from synergies was identified as the most significant to date on the po loan credit insurance ssible merger. The first difficulty, according to an analysis of the UBS is the size difference between them. The market capitalization of the BM & FBovespa is nearly R $ 21 billion. Cetip is already valued at R $ 9 billion.
Banks
According to ERDesk, CVM probably will not oppose the deal. "The antitrust will only contest if banks are opposed. There are several banks that are repre loan credit insurance sented on the board of BM & FBovespa. This is the biggest obstacle. They will probably ask, "what is the benefit of the merger to my bank," explains Diego Perfumo analyst.
The BM & FBovespa also need to offer some additional benefits and perhaps even discounts on tariffs for banks to accept the agreement. "The grant would also need to divest the business car records of Cetip, GRV, to stay more focused on developing the Brazilian capital market," he points out.
The grant announced yesterday have sought Cetip to begin "negotiations" for a possible union of the two operations. The news was well received by the market and both stocks rose strong. Shares in Bovespa soared 8.77% and the Cetip, leveraged 8.36%.
The doubt about the gain from synergies was identified as the most significant to date on the po loan credit insurance ssible merger. The first difficulty, according to an analysis of the UBS is the size difference between them. The market capitalization of the BM & FBovespa is nearly R $ 21 billion. Cetip is already valued at R $ 9 billion.
Banks
According to ERDesk, CVM probably will not oppose the deal. "The antitrust will only contest if banks are opposed. There are several banks that are repre loan credit insurance sented on the board of BM & FBovespa. This is the biggest obstacle. They will probably ask, "what is the benefit of the merger to my bank," explains Diego Perfumo analyst.
The BM & FBovespa also need to offer some additional benefits and perhaps even discounts on tariffs for banks to accept the agreement. "The grant would also need to divest the business car records of Cetip, GRV, to stay more focused on developing the Brazilian capital market," he points out.
US private sector opens 182,000 jobs in October, says ADP
Private employers in the United States opened 182,000 job openings in October, slightly above economists' expectations, sho loan credit insurance wed the report processor ADP payrolls on Wednesday (4).
Economists polled by Reuters had expected the ADP National Employment Report showed the opening of 180,000 new jobs.
The number of job creation in the US pri loan credit insurance vate sector in September was revised to 190,000, against 200,000 previously reported.
The report is developed together with Moody's Analytics.
The ADP fi loan credit insurance gures came before the more comprehensive employment outside the agricultural sector's Labor Department report, to be released on Friday, which includes the creation of jobs in both the public sector and in private.
Economists polled by Reuters are expecting a total of 180,000 jobs created in the US in October, compared to 142,000 in September.
The expectation for the unemployment rate is to remain at 5.1%.
Economists polled by Reuters had expected the ADP National Employment Report showed the opening of 180,000 new jobs.
The number of job creation in the US pri loan credit insurance vate sector in September was revised to 190,000, against 200,000 previously reported.
The report is developed together with Moody's Analytics.
The ADP fi loan credit insurance gures came before the more comprehensive employment outside the agricultural sector's Labor Department report, to be released on Friday, which includes the creation of jobs in both the public sector and in private.
Economists polled by Reuters are expecting a total of 180,000 jobs created in the US in October, compared to 142,000 in September.
The expectation for the unemployment rate is to remain at 5.1%.
Credit Suisse will raise $ 6 billion in restructuring strategy
Credit Suisse announced plans to raise 6 billion Swiss francs ($ 6.3 billion) in capital from investors in a plan where the new chief executive, Tidjane Thiam, aims to promo loan credit insurance te further restructuring of the institution in nearly a of each.
The plan includes the transfer of 1,800 jobs out of London because of the high costs of the city, said the executive on Wednesday. Thiam also said it plans to redu loan credit insurance ce the bank's staff in Switzerland in a net total of 1,600 positions over the next three years.
Credit Suisse is emphasizing the wealth management area and growth in Asia, while reducing the investment banking area, echoing rivals initiatives such as UBS and other banks to cut a segment where stricter regulations are pressuring profitability.
The results of the third quarter, which had described it as "not very good", revealed the need for change in bank headquartered in Zurich. Earnings before taxes for the third quarter fell 34% to 861 million Swiss francs, compared to the same period last year, mainly reflecting the 8% drop in net revenue.
Thiam said that Credit Suisse will place more focus on wealth mana loan credit insurance gement, especially in emerging markets, and reduce the size of its investment bank, cutting 2 billion francs in annual costs.
Credit Suisse plans to raise 1.35 billion Swiss francs from the sale of shares to a group of investors at a discount of 5.5% on the closing price on Tuesday. Another 4.7 billion will be raised through an issue to existing investors of the bank.
Thiam said that Credit Suisse's capital ratio is expected to rise to 12.2% and that the bank intends to maintain this percentage above 12%.
The plan includes the transfer of 1,800 jobs out of London because of the high costs of the city, said the executive on Wednesday. Thiam also said it plans to redu loan credit insurance ce the bank's staff in Switzerland in a net total of 1,600 positions over the next three years.
Credit Suisse is emphasizing the wealth management area and growth in Asia, while reducing the investment banking area, echoing rivals initiatives such as UBS and other banks to cut a segment where stricter regulations are pressuring profitability.
The results of the third quarter, which had described it as "not very good", revealed the need for change in bank headquartered in Zurich. Earnings before taxes for the third quarter fell 34% to 861 million Swiss francs, compared to the same period last year, mainly reflecting the 8% drop in net revenue.
Thiam said that Credit Suisse will place more focus on wealth mana loan credit insurance gement, especially in emerging markets, and reduce the size of its investment bank, cutting 2 billion francs in annual costs.
Credit Suisse plans to raise 1.35 billion Swiss francs from the sale of shares to a group of investors at a discount of 5.5% on the closing price on Tuesday. Another 4.7 billion will be raised through an issue to existing investors of the bank.
Thiam said that Credit Suisse's capital ratio is expected to rise to 12.2% and that the bank intends to maintain this percentage above 12%.
Energisa redeem R $ 109.2 million in promissory notes
Energisa holding com loan credit insurance pany, which controls 13 electricity distribution companies in Brazil, said on Wednesday they had rescued R $ 109.2 million in promissory notes of its 3rd issue.
According to material fact, the redemption of 21 bank loan credit insurance notes in circulation was carried out with pay loan credit insurance ment of $ 5.2 million for each role.
According to material fact, the redemption of 21 bank loan credit insurance notes in circulation was carried out with pay loan credit insurance ment of $ 5.2 million for each role.
BHP increases production of iron ore and reduces oil investments
BHP Billiton boosted its quarterly iron ore pro loan credit insurance duction by 7%, the company said on Tuesday night, while maintaining the annual target ignoring growing concerns of a global oversupply.
The mining giant also cut its investment pro loan credit insurance gram in oil and gas, saving more than $ 200 million, as you tighten the belt during the fall in commodity prices amid slower growth in China.
"BHP Billiton remains on track to achieve its production of the year and the guidance of costs after a solid operating performance this quarter, said its chief executive, Andrew Mackenzie, in the report, before the company's annual meeting in London on Thursday .
At this projected rate of iron ore production, BHP will maintain its position as the third place in production and export of raw material for steel, which accounts for more than half of their revenues and profits.
BHP, which released the quarterly pro loan credit insurance duction until September at 61 million tons, plans to produce 247 million tons in the year to June 30, 2016, up 6% compared to the previous year, placing it just behind Vale and Rio Tinto.
This week Vale said to have produced a record 88.2 million tons of iron ore in the third quarter, slightly ahead of Rio Tinto.
The mining giant also cut its investment pro loan credit insurance gram in oil and gas, saving more than $ 200 million, as you tighten the belt during the fall in commodity prices amid slower growth in China.
"BHP Billiton remains on track to achieve its production of the year and the guidance of costs after a solid operating performance this quarter, said its chief executive, Andrew Mackenzie, in the report, before the company's annual meeting in London on Thursday .
At this projected rate of iron ore production, BHP will maintain its position as the third place in production and export of raw material for steel, which accounts for more than half of their revenues and profits.
BHP, which released the quarterly pro loan credit insurance duction until September at 61 million tons, plans to produce 247 million tons in the year to June 30, 2016, up 6% compared to the previous year, placing it just behind Vale and Rio Tinto.
This week Vale said to have produced a record 88.2 million tons of iron ore in the third quarter, slightly ahead of Rio Tinto.
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