Megafon’s $1.7 billion share offering raised eyebrows last year when Goldman Sachs pulled out as lead bookrunner close to launch – but the investment bank has now issued a “buy” rating on the stock.
The stage is being set for the battle for the heart of Italy, as warning signs about the state of the country’s economy become more difficult to ignore.
In markets unused to major surprises, the news that several members of the Federal Reserve’s governing body wanted to halt its quantitative easing program earlier than expected caused a kerfuffle.
The deal finally reached over the U.S. “fiscal cliff” should ultimately be positive for the U.S. stock market and investors should buy U.S. equities on any weakness, according to The Gartman Letter writer and editor Dennis Gartman.
The much-maligned peripheral economies of the euro zone are showing some encouraging signs, leading to talk of a revaluation which would have seemed optimistic for most of last year.
This year risks being a "groundhog year" for the U.K.'s embattled economy as it threatens to repeat much of 2012's gloom, according to an influential think tank.
The Bank of England that Mark Carney will inherit in July is uncertain of its next steps, and the U.K.'s economic outlook does not appear to be getting any better.
This has been “an exceptionally political year," starting with the problems of the euro zone and concluding with all eyes on Washington as the U.S. teetered atop the “fiscal cliff."