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Carlo Cimbri, Chairman of Unipol Group, suggested that Dutch bank ING may be considering a bid for Popolare di Sondrio, referencing the bank's orange color during a recent meeting. Unipol, a major shareholder in both BPER and Pop Sondrio, supports BPER's bid but remains open to other offers, acknowledging foreign interest in the bank. Cimbri emphasized that Unipol prioritizes its interests and is receptive to any compelling proposals.
A Dutch environmental group, Milieudefensie, has initiated legal action against ING bank, seeking to compel it to reduce carbon dioxide emissions by 50% by 2030. The group, supported by 30,000 co-plaintiffs, argues that ING's financing of fossil fuel projects undermines the Paris Agreement's climate goals. Despite a recent court ruling against similar climate actions, Milieudefensie remains optimistic about their case, emphasizing the need for financial institutions to shift investments towards sustainable practices.
Goldman Sachs has reduced its price target for UBS from 44.50 to 36.00 francs while maintaining a "Buy" rating. Analyst Chris Hallam noted that the outlook for European banks is the strongest in two decades, with institutions like Deutsche Bank and BNP Paribas poised to benefit, despite UBS facing stricter capital requirements.
UBS is contemplating relocating its headquarters amid potential capital requirement increases of up to $40 billion, which could hinder its global competitiveness. CEO Sergio Ermotti emphasized that excessive regulations could penalize the bank's diversified operations and impact Switzerland's economy. The bank's commitment to a Swiss identity remains, but it faces challenges balancing local regulations with its international business strategy.
BNP Paribas announced that no stabilisation was carried out for the EUR 400 million offer of Ontex Group NV's 5.25% securities due April 2025. The announcement clarifies that the securities are not available for sale in the United States and have not been registered under the U.S. Securities Act.
BNP Paribas has reported no stabilisation actions for Ontex Group NV's recently issued EUR 400 million securities, which carry a 5.25% yield due in April 2025. The absence of stabilisation measures indicates that the market for these securities remained stable post-issuance. Additionally, the securities are not registered under the U.S. Securities Act of 1933, prohibiting their offer or sale in the United States without proper registration or exemption.
Yen bulls are considering positions as the USD/JPY experiences a decline driven by long positions in the yen, contrasting last year's short covering. Analysts suggest a potential correction to 152.50 this week, but caution against chasing higher rates due to upcoming US tariffs and a possible Bank of Japan rate hike in May that could strengthen the yen.
EUR/SEK is expected to rebound to the 11.10-11.20 range in the coming weeks, as the krona remains undervalued despite the Riksbank holding rates steady. Meanwhile, the Swiss National Bank's recent rate cut to 0.25% has led to a decline in the Swiss franc, with EUR/CHF projected to return to 0.950 in the second quarter.
Oil prices rose on Friday, marking a second consecutive weekly gain, driven by new US sanctions on Iran and OPEC+'s plan to cut output. Brent crude futures increased to $72.14 per barrel, while US West Texas Intermediate rose to $68.23. Analysts predict a significant reduction in Iranian crude exports due to tighter sanctions, alongside OPEC+'s commitment to further output cuts until June 2026.
ING has repurchased over 2.77 million shares last week as part of its two-billion-euro buyback program, at an average price of 18.42 euros, totaling 51.1 million euros. This brings the total shares bought back to over 89.9 million, amounting to 1.39 billion euros, or approximately 69.7% of the program's maximum value announced on October 31.
Ing. A. Dielissen Bouwkundig werk
Companies
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unipol chair hints at ing interest in popolare di sondrio bid
Banca Popolare di Sondrio S.p.A
Ing. A. Dielissen Bouwkundig werk
ITA
NLD
Valentina Za
Andrea Mandala
Gavin Jones
Carlo Cimbri
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19:11 28.03.2025
dutch group sues ing bank to cut carbon emissions by 2030
16:48 28.03.2025
Goldman Sachs lowers UBS price target but maintains buy rating
Swiss Franc
Ing. A. Dielissen Bouwkundig werk
BNP Paribas SA
The Goldman Sachs Group Inc
Erste Group Bank AG
UniCredit S.p.A.
Deutsche Bank Money Market PP
CHE
Chris Hallam
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22:17 27.03.2025
ubs considers relocating headquarters amid rising capital requirements and regulatory tensions
Swiss Franc
United States Dollar
Euro
British Pound Sterling
Hong Kong Dollar
New York Community Bank
Barclays PLC
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Credit Suisse Strategic Income I
Ing. A. Dielissen Bouwkundig werk
Julius Bär Gruppe AG
GBR
CHE
USA
Georges Elhedery
Jamie Dimon
John Waldron
Andrea Orcel
Ana Botina
Colm Kelleher
David M. Solomon
Sergio Ermotti
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13:28 27.03.2025
no stabilisation carried out for ontex group nv securities offering
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BBVAMRF A
Ing. A. Dielissen Bouwkundig werk
BNP Paribas SA
Commerzbank AG
The Goldman Sachs Group, Inc.
BEL
Nicolai Hartmann
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10:56 27.03.2025
BNP Paribas reports no stabilisation actions for Ontex Group bonds
Euro
CREDIT AGRICOLE
BBVAMRF A
Ing. A. Dielissen Bouwkundig werk
BNP Paribas SA
Commerzbank AG
The Goldman Sachs Group, Inc.
FRA
ESP
NLD
BEL
DEU
USA
Show more
10:48 27.03.2025
yen bulls consider positions as usd jpy faces potential correction
09:48 25.03.2025
eur sek expected to rebound as swiss national bank cuts rates
11:04 21.03.2025
oil prices rise on iran sanctions and new opec cuts
09:34 21.03.2025
ING repurchases 2.8 million shares in ongoing buyback program
15:04 18.03.2025
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