Due to the drop in oil prices, the Standard & amp rating agency; Poor’s downgraded Wednesday the credit rating of several countries black gold producers:
– Note from Saudi Arabia dropped two notches to A- (always in class “investment “). The outlook is stable
-. The rating of Kazakhstan has worsened a notch, but falls to BBB-, that is to say to the speculative grade boundary.
– The Arabian credit rating also fell to BBB- with a stable outlook
-. The note goes into category Bahrain speculative BB.
the notes of Russia (BB +) and Qatar (AA) are maintained at the same level. That of Kuwait was also held on 12 February.
European shares end sharply higher
In Europe the market rebound was confirmed Wednesday. The Paris Bourse takes 2.99% to 4233.47 points gaining 2.87% London, Frankfurt and Milan 2.65% 2.48%. This increase was driven by banking stocks and oil.
Side banks, Crédit Agricole SA jumped 13.91% to 9.55 euros after the publication of its results and a net profit of 6 billion euros for the group. The announcement of a broad reform to simplify the capital structure of Crédit Agricole has been well received by the market. Other French banks have benefited from this rise. Société Générale takes 6.58% to 31.44 euros and BNP Paribas 3.64% to 41.77 euros.
Furthermore, the price of black gold are left to the rise. WTI, US benchmark, gaining 5.70% to 30.70 dollars per barrel and Brent, the European benchmark, takes 6.6% to 34.30 dollars. Classes take advantage of Iran’s declarations who said he supported the decision taken at Doha Tuesday to freeze production to stabilize prices.
4,000 billion dollars of debt to repay by 2020
European companies will have to refinance 3.700 billion of bond debt over the next four years, including 830 billion in 2016 , according to a study by Standard & amp; Poor’s. 54% of this amount corresponds to bonds issued by financial companies. Since the beginning of the year, emissions in Europe show volume down by half compared to 2015.
BIC plunged after the departure of its CEO Mario Guevara
A badly prepared succession? After ten years with Bic controls, Mario Guevara, its CEO has surprised the financial community by announcing his retirement at only 65. He goes “for personal reasons” and had informed the Board of his intention to leave the ship. This is Bruno Bich, current president, who should be appointed CEO at the next general meeting in May. His priority will be to find a successor.
Investors have reacted rather badly to what looks like an improvised succession. The stock has lost nearly 19% at the opening. The most since 2000. Around 13:30, he no longer fell by “only” 13%. Furthermore, Bic today announced its 2015 results, exceeding its targets but in line with market expectations.
Euronext unscrewed after its results
The operator of the Paris Bourse, Lisbon, Amsterdam, Brussels disappoints Exchange Wednesday morning, after presenting its results. Investors were hoping that the group led by Stéphane Boujnah already provides guidance on its objectives and strategic plan. But it reiterated that he would present the plan in the second quarter. “This plan will be based on two pillars: revenue growth and cost control,” simply said Stéphane Boujnah.
Euronext saw its net profit increase by 46% to € 173 million the last year, illuminated canvases that revenue grew 5% due to market volatility and a greater number of IPOs, the statement said. The exchange operator has achieved 83 million net savings, saw its operating expenses to decline by 14.3% on an adjusted basis. The dividend will be increased from 0.84 euro to 1.24 euro per share.
The action took more than 8% over the previous five sessions. But since the beginning of the year, the title Euronext was down about 21% ..
Apple debt Mega-lifted to reward shareholders
Apple reopened in fine style on Wednesday, a US bond market that had seen no major issue for one week. The group of Cupertino has indeed made a mega-deal of $ 12 billion. This is the second largest deals of the year in the US, after that of AB InBev ($ 46 billion) to finance the acquisition of SABMiller.
Apple has divided its debt issuance in nine tranches. The longest of them displayed a maturity of 30 years and pays a yield of 4.65%, or 205 basis points more than Treasuries, the US State loans of the same maturity. This is particularly interesting conditions for the firm at the apple, especially since it is less than 10 basis points to the one that was mentioned in the beginning of the operation markets. The group also benefited from investors’ appetite for green bonds, “green bonds”, which are used to fund clean energy projects and sustainable development. He placed $ 1.5 billion of these securities, one of the largest amount raised in the United States on this type of debt.
Buybacks action or a dividend increase
Apple is a veteran of these massive issues with a to record $ 17 billion in 2013. Since, he has raised $ 2 billion in May 2014 and $ 8 billion in May. As was the case two years ago, the product of this operation will be primarily intended to reward shareholders in the group, either through buybacks, either through a dividend increase. It should also be assigned to debt buybacks and acquisitions, according to relatives Apple professionals surveyed by Bloomberg.
IBM and Toyota also
Apple is not the only one who benefited from investors’ renewed appetite . Other highly rated companies, IBM and Toyota Motor Credit Corp, also sought investors Tuesday. On this one day, nearly 20 billion dollars has been raised
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