Oil and gas producers are oen seen as vulnerable to global efforts aimed at curbing climate change. But some European energy groups might become part of the solution to climate change rather than part of the problem.
Key points The role of a city today is to facilitate knowledge exchange and information sharing to nurture idea creation. The cities that do this best are those that are able to attract talent, cultivate clusters of high value add
In recent years, European retail parks have experienced a significant transformation with regard to the breadth of tenant mix and quality of design.
Strategy Espresso Theme of the week: Finding Value in US Financials What Rate Cut? On the day the Federal Reserve announced its first rate cut since 2008, the US Financials sector outperformed the S&P 500 despite what is traditionally assumed as a negative
Business confidence in manufacturing falls further, almost everywhere Eurozone heading for stagnation (or worse?) ECB to provide fresh stimulus in September
How low can we go? With the European Central Bank (ECB) set to resume quantitative easing, can European high yield spreads return to their lows of the last time around?
Macro Weekly Recent US economic data paints a picture of an economy that is unlikely to fall into recession any time soon. The current expansion is easily going to be the longest on record (records going back to the second
Why we upgrade European assets We have closed our underweight in European equities and credit, and upgraded government bonds to overweight. The impetus? We see the European Central Bank (ECB) delivering fresh stimulus over coming months, against a backdrop of
A relatively benign G20 summit and expectations for easier financial conditions ahead have boosted demand for emerging market debt. However, areas of value can still be found. Fundamentals: The growth trajectory of emerging markets remains intact following the recent G20
Trade Dispute and Brexit are Driving the Outlook Economic outlook should gradually improve in the second half Global economic growth continued to suffer in the first half of 2019 due to the trade dispute and the uncertainty surrounding Brexit. By
This paper presents an approach to a macroprudential stress test for the euro area banking system, comprising the 91 largest euro area credit institutions across 19 countries. The approach involves modelling banks’ reactions to changing economic conditions. It also examines
Market outlook The CEE FX market was calm last week due to lower liquidity resulting from the public holiday in the US. The impact of the positive outcome of the G20 summit was short-lived and limited to the zloty, as
Market flash Meanwhile, the European Union made a number of senior appointments. After lengthy negotiations, a reflection of Europe’s very politically diverse nature, Ursula von der Leyen was put forward as European Commission president while Christine Lagarde was proposed as
European equities continued their rally into Q2 with the S&P Europe 350 rising 3%, modest compared to its stellar first quarter gains of 13%. Most of our core European factor indices rose in the second quarter, with the S&P Europe
Introduction to Invest Europe Invest Europe is the voice of investors in privately-held companies in Europe. – Invest Europe is the association representing Europe’s private equity, venture capital and infrastructure sectors, as well as their investors. – Our members take
Volatility is here to stay. Markets are hostages of very volatile news flow. Trade-related anxiety is driving the swing (pessimism of a broken deal between China and US led to a correction in May while the renewed hope of a
A look back at European ETF market flows last month Net new assets in the European ETF market slowed again in May to €1.8bn from the €3.7bn we saw in April. This was largely due to a significant decrease in
Long-term UCITS recorded net inflows of EUR 40 billion in Q1 2019, compared to net outflows of EUR 94 billion in Q4 2018. Equity funds recorded net outflows of EUR 27 billion, compared to net outflows of EUR 7 billion
Market outlook Currencies were mildly up in CEE last week, apart from the Hungarian forint, where investors are increasingly pricing in the accommodative policy of the central bank. It would not be a huge surprise to see the HUF weaken
Monitor Brexit with the ‘OpinioPro Brexit Search Index’ Brexit and OpinioPro Brexit Monitor. Internet search for ‘brexit’ made an incredible peak in 2016 and returned in the limelight around the deadline in 2019. Context level: The peak of 260.000 would
This week, the European Commission concluded that a debt-based Excessive Deficit Procedure (EDP) against Italy is warranted. However, the final decision on whether to open proceedings against Italy will be taken by finance ministers and heads of government in the
ECB Council Meeting As expected, the Governing Council of the ECB did not decide to change key ECB interest rates at today's meeting. However, the guidance was changed somewhat surprisingly today. Whereas the ECB had previously promised the markets unchanged
CEE currencies became more attractive as the lack of room to ease rates domestically met with decreasing rate expectations on major markets. The Czech koruna seems to be the slight exception, as rate expectations are also easing there, given the
Weekly Economic Commentary The European Union (EU) is a political and economic union borne after World War II of a desire for harmony in a scarred and divided European continent. The original concept was founded on the hope that it
Due to take place on 23-26 May, the European Parliamentary (EP) elections are approaching fast. The final results will be communicated in the evening of 26 May At the time of writing, if polls are correct (1), the two mainstream
