The ECB gave more details of its asset purchase program on Thursday, but left markets uneasy by failing to give clear guidance on their size.» Read More
`` Spain is my favourite because we've got all sorts of hedges,'' said Elke Speidel-Walz, chief investment strategist for Germany at Deutsche Bank Private Wealth Management. ``This means the risk return is best in Spain.''.
*Economic rot taking root in Germany, France. NEW YORK/ LONDON, Oct 24- Euro zone businesses suffered another dismal month in October as factory output plunged in Germany, the area's top economy and exporter, while conditions improved slightly for U.S. and Chinese manufacturers.
DUBAI/ ABU DHABI, Oct 24- An official document clarifying ultimate responsibility for new debt issuance by Abu Dhabi's government-related entities aims to eliminate any risk of a Dubai-style debt crisis in the emirate.
*Worst of China growth slowdown may be over. LONDON, Oct 24- The euro zone's biggest member Germany is being sucked into the bloc's worsening economic quagmire, business surveys suggested on Wednesday, as similar data signalled the slowdown in China may be abating.
*Bond exchangeable into Pirelli shares. MILAN, Oct 12- Italian holding company Camfin, which controls Pirelli, has sold a well-received 150 million euro bond exchangeable into the tyremaker's shares. Pirelli shares, up 36 percent this year, were down 0.8 percent to 8.78 euros by 1320 GMT, while Camfin shares were down 4.4 percent to 0.4690 euro.
October 12- Following are terms and conditions. of an FRN increased on Friday.
MILAN, Oct 12- Italian holding company Camfin, which controls tyremaker Pirelli, placed the entire amount of a fixed-rate 150 million euro bond convertible into Pirelli shares, said a person familiar with the matter. "The market was very receptive," said the person. "
*Bond is convertible into Pirelli shares. MILAN, Oct 12- Italian holding company Camfin, which controls tyremaker Pirelli, said on Friday it launched a fixed-rate 150 million euro bond convertible into Pirelli shares to pay back Camfin debt.
By Anjuli Davies and Sarah White. LONDON, Oct 11- Bank of America Merrill Lynch. Michael Frieser and Marc Tempelman have been appointed co-heads of financial institutions corporate and investment banking for Europe, the Middle East and Africa.
PARIS, Oct 11- European stocks rallied on Thursday after a drop in U.S. jobless claims while Spain's credit downgrade raised expectations that Madrid would soon request a bailout.
Moody's has Spain on review for a possible downgrade. Italy's government expects to raise at least 1 billion euros from the financial transaction Rome aims to introduce starting from the beginning of next year, daily Il Corriere della Sera said on Thursday.
VIENNA, Oct 10- Austrian construction group Alpine Holding is taking measures to deal with tough market conditions and has adequate liquidity, it said on Wednesday, rejecting a magazine report that its finances were stretched. Liquidity has been sufficiently secured, " Austria's second-biggest construction company, a unit of Spain's FCC, said in a statement.
JPMORGAN CHASE INC The U.S. bank has hired Ahmed Saeed from Nomura Holdings. The investment bank appointed Peter Young AM as chairman of Barclays Bank Plc. He was the chairman of investment banking in Australia and New Zealand at ABN AMRO and a member of the advisory board at Royal Bank of Scotland in Australia.
*Italian output jumps 1.7 pct m/m in August* Beats analyst forecasts for a decline* ISTAT cautions on seasonal distortions By Catherine Hornby. ROME, Oct 10- Italian industrial output unexpectedly rose in August, offering some hope that recession may be easing slightly although the statistics bureau cautioned that seasonal factors may have distorted the data.
VIENNA, Oct 10- The chief executive of Austrian construction group Porr will make a full takeover offer for the company after increasing his stake to 44 percent through the acquisition of shares from a UniCredit Bank Austria.
MILAN, Oct 10- Ferrari Chairman Luca Cordero di Montezemolo is set to become the vice chairman of UniCredit, Italy's biggest bank by assets said in a statement on Wednesday. Montezemolo already sits on Unicredit's board as a representative of Abu Dhabi investment vehicle Aabar, which is the bank's single biggest shareholder with a 6.5 percent stake.
Oct 9- Fitch Ratings has affirmed UniCredit Bank AG's Long-term Issuer Default Rating at' A+' with Stable Outlook, Short-term IDR at' F1+', Support Rating Floor at' A+', Support Rating at' 1' and Viability Rating at' a-'. The Support Rating reflects Fitch's view of an extremely high likelihood of support by the Federal Republic of Germany if needed.
October 9- Following are terms and conditions. of a bond priced on Tuesday.
UniCredit Bank Austria and Banco Popolare struggled to find demand for their respective five- and long three-year deals, despite impressive order books built by rivals Intesa Sanpaolo, Italy's largest retail bank, and Dutch F Van Lanschot the same day.
SIENA, Italy, Oct 9- The chairman of Italy's third biggest lender, Banca Monte dei Paschi di Siena, said on Tuesday he aimed to keep the bank "totally and absolutely" independent.