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BNP takes over parts of Fortis and Unicredit to raise €6.6B capital
Mon, Oct 6 2008, 07:17 GMT
by Nicole Elliott
Quote:
‘If you want to be wealthy, think of saving as well as getting.’ Benjamin Franklin (1706-1790)
The News:
Austria, Denmark and Germany guarantee all bank deposits after Paris summit decides no EU-wide bail-out fund is needed. BNP takes over parts of Fortis and Unicredit to raise €6.6B capital.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
From today GB September HBOS House Prices (-1.9% to –1.5% M/M, -12.8% to –12.2% Y/Y, vs –1.8% and –10.9%).
05:00 JP Bank of Japan starts a two-day rate setting meeting (expected unchanged at 0.50%).
09:30 GB August Industrial Production (-0.7% to 0% M/M, -2.5% to –1.8% Y/Y, versus –0.4% and –1.9% July).
09:30 GB August Manufacturing Production (-1.0% to –0.1% M/M, -2.5% to –1.5% Y/Y, vs –0.2% and –1.4% July).
09:30 EZ15 October Sentix Confidence (-28.6 to –25.0 versus –20.2 September).
13:30 CA September Ivey Purchasing Managers Index (49 to 58 versus 51.5 August).
13:30 CA August Building Permits (-3.7% to +1.0% versus +1.8% July).
14:00 US Paul Volker and Roger Ferguson speak on financial supervision, New York.
16:00 US Treasury auction result of ten-year TIPS.
17:00 US Fed’s Evans speaks on the economy and productivity trends, Texas. Fisher at 18:30.
00:01 GB September NIESR GDP (versus –0.2% August).
The Psychology:
Holidays in Australia & Egypt and EU Finance Ministers start a two-day meeting in Brussels.
The Risk:
Chaotic financial conditions all-round will impact other business sectors.
Today’s most interesting chart: S&P Dec08 future
New recent lows after $700b package passed.
Published on Mon, Oct 6 2008, 07:20 GMT
Archive
- US regulators close seven banks yesterday, six in Illinois, bringing total to 52 so far this year
Published On Fri, Jul 3 2009, 06:40 GMT - US June vehicle sales –28% to 9.69 million units, Domestic 7.2M
Published On Thu, Jul 2 2009, 06:30 GMT - A very slow recovery means rates could stay close to zero for years
Published On Wed, Jul 1 2009, 06:40 GMT - Fannie Mae's seriously delinquent mortgages 3.42% vs 1.22% year ago on total $789B portfolio
Published On Tue, Jun 30 2009, 06:22 GMT - The country is not spiralling in to deflation
Published On Mon, Jun 29 2009, 06:41 GMT
Mizuho Corporate Bank
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http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
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The information contained in this page is based on or derived from information generally available to the public from sources believed to be reliable. No representation or warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This page has been prepared solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy.Related reports
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