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UBS market strength puts Swiss industry on edge

ANALYSIS-UBS market strength puts Swiss industry on edge Firms fear more expensive or reduced services following merger UBS has warned of 'repricing' to come Availability of credit is biggest concern Swiss pricing watchdog following situation closely By John Revill ZURICH, June 12 (Reuters) - UBS's UBSG.S takeover of Credit Suisse has fed a creeping anxiety that Swiss companies will pay a price for the enlarged bank's outsize market strength.
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Azerbaijan's ABB to sell new shares to retail investors

UPDATE 1-Azerbaijan's ABB to sell new shares to retail investors Adds details BAKU, June 11 (Reuters) - The government of Azerbaijan will reduce its stake in the country's largest bank, ABB, to 90% a s the bank sells new shares to retail investors , the bank's chief executive, Abbas Ibrahimov, told reporters on Tuesday. T he state now owns a 96.37% stake in the bank, and investors will be able to buy between 100 and 75,000 shares each, meaning an investment of 27 manat to 20,250 manat ($16-$11,9
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AJ Bell, Kone Oyj, Wizz Air

EUROPE RESEARCH ROUNDUP-AJ Bell, Kone Oyj, Wizz Air May 24 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including AJ Bell, Kone Oyj and Wizz Air, on Friday. HIGHLIGHTS * AJ Bell AJBA.L : RBC raises target price to 380p from 320p * Greencore Group Plc GNC.L : Deutsche Bank raises target price to 130p from 105p * Kone Oyj KNEBV.HE : HSBC raises to buy from hold * Ocado OCDO.L : JP Morgan raises target price to 450p from 350p * Wizz Air WIZZ.
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ABB names two new members for executive committee

ABB names two new members for executive committee ZURICH, May 23 (Reuters) - Swiss engineering group ABB ABBN.S said on Thursday it was making two new appointments to its executive committee from August. The company said Giampiero Frisio would become the new president of its Electrification Business Area and Brandon Spencer the new president of its Motion Business Area.
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ABB: Appoints New Business Area Presidents

BRIEF-ABB: Appoints New Business Area Presidents May 23 (Reuters) - Abb Ltd ABBN.S : APPOINTS NEW BUSINESS AREA PRESIDENTS ANNOUNCED APPOINTMENT OF GIAMPIERO FRISIO AS NEW PRESIDENT OF ITS ELECTRIFICATION BUSINESS AREA AND BRANDON SPENCER AS NEW PRESIDENT OF ITS MOTION BUSINESS AREA BOTH WILL TAKE OVER THEIR NEW ROLES AND JOIN ABB'S EXECUTIVE COMMI
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India economic, corporate events on May 21

DIARY- India economic, corporate events on May 21 BENGALURU, May 21 (Reuters) - Diary of India economic, corporate events on May 21. ECONOMIC, CORPORATE .BSE500 EVENTS: Start Date Start Time RIC Company Name Event Name 21-May-2024 NTS METP.NS Metropolis Healthcare Ltd Q4 2024 Metropolis Healthcare Ltd Earnings Release 21-May-2024 NTS PIIL.NS PI Ind
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Activist investor Cevian takes stake in Swiss insurer Baloise

Activist investor Cevian takes stake in Swiss insurer Baloise ZURICH, May 18 (Reuters) - Activist investor Cevian has taken a 3.12% stake in Swiss insurer Baloise BALN.S , the Swiss stock exchange said on Saturday. The stake would be worth around 213 million Swiss francs ($234 million) at current market prices, according to a Reuters calculation. The exchange's statement comes after Baloise shareholders voted last month to scrap a 2% cap on voting rights, which had previously limited their influ
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Deals of the day-Mergers and acquisitions

Deals of the day-Mergers and acquisitions Adds Bank of America; updates Apollo, Iberdrola May 17 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1945 GMT on Friday: ** Spanish utility Iberdrola IBE.MC has agreed to acquire the remaining 18.4% stake in Avangrid AGR.N that it does not already own, the U.S. subsidiary said, in an all-cash deal worth about $2.6 billion.
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Deals of the day-Mergers and acquisitions

Deals of the day-Mergers and acquisitions Adds: Iberdrola, 3R Petroleum, Apollo May 17 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday: ** Spanish utility Iberdrola IBE.MC is nearing a deal to acquire the remaining 18.4% stake in its U.S. subsidiary Avangrid AGR.N that it does not already own for about $2.6 billion, people familiar with the matter said .
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Deals of the day-Mergers and acquisitions

Deals of the day-Mergers and acquisitions May 17 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 0940 GMT on Friday: ** BHP Group BHP.AX would need to boost its latest offer around 30% to reflect fair value for Anglo American AAL.L and its key copper assets, JPMorgan analysts said in a note. nL8N3HK28C ** U.S. fund General Atlantic and Canadian pension fund CPPIB are readying a 3 billion euro ($3.26 billion) offer to buy Spain's largest online real estate com
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European shares end lower on rate cut jitters; Richemont shines

UPDATE 2-European shares end lower on rate cut jitters; Richemont shines For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Azelis notches worst day ever after EQT, PSP sell shares Lagercrantz tops STOXX after Q4 report Fitch's credit rating review on Spain on tap ECB's Schnabel calls for caution in rate cuts beyond June Updated at 1600 GMT By Ankika Biswas and Johann M Cherian May 17 (Reuters) - European shares closed lower on Friday, as
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ABB buys Siemens's wiring accessories business in China

UPDATE 1-ABB buys Siemens's wiring accessories business in China Adds detail in paragraphs 3-5 ZURICH, May 17 (Reuters) - ABB ABBN.S has agreed to buy the wiring accessories business of German rival Siemens SIEGn.DE in China, the Swiss engineering group said on Friday. The acquisition will broaden ABB's market reach and complement its regional customer offering within smart buildings, the company said.
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ABB Buys Siemens's Wiring Business In China

BRIEF-ABB Buys Siemens's Wiring Business In China May 17 (Reuters) - ABB LTD ABBN.S : ABB LTD (NOT AUSSIE BROADBAND LTD) - FINANCIAL TERMS WERE NOT DISCLOSED ABB (NOT AUSSIE BROADBAND LTD) - BUSINESS WILL BE MARGIN ACCRETIVE TO ABB AND TRANSACTION IS EXPECTED TO CLOSE WITHIN NEXT TWELVE MONTHS ABB LTD - EXPANDS ELECTRIFICATION PORTFOLIO WITH ACQUIS
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ABB buys Siemens's wiring business in China

ABB buys Siemens's wiring business in China ZURICH, May 17 (Reuters) - ABB ABBN.S has agreed to buy the wiring accessories business of German rival Siemens SIEGn.DE in China, the Swiss engineering group said on Friday. The acquisition will broaden ABB's market reach and complement its regional customer offering within smart buildings, the company said.
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Honeywell International's India arm posts Q4 profit rise on strong infra demand

Honeywell International's India arm posts Q4 profit rise on strong infra demand BENGALURU, May 15 (Reuters) - Honeywell Automation India HONE.NS , the Indian arm of U.S. conglomerate Honeywell International HON.O , reported a rise in fourth-quarter profit on Wednesday, helped by sustained industrial and infrastructure demand. The engineering firm's profit rose 32% to 1.48 billion rupees (about $18 million) for the quarter ended March 31 from 1.12 billion rupees a year ago.
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ABB Ltd, Capital & Regional Plc, Neste Oyj

EUROPE RESEARCH ROUNDUP- ABB Ltd, Capital & Regional Plc, Neste Oyj May 15 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including ABB Ltd, Capital & Regional Plc and Neste Oyj, on Wednesday. HIGHLIGHTS * ABB Ltd ABBN.S : TD Cowen raises target price to CHF 46 from CHF 38 * Capital & Regional Plc CAL.L : Berenberg cuts target price to 65p from 68p * Hannover Re HNRGN.DE : HSBC raises target price to EUR 235 from EUR 225 * Neste Oyj NESTE.H
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ABB India hits record high on quarterly profit jump

BUZZ-ABB India hits record high on quarterly profit jump ** Shares of ABB India ABB.NS rise as much as 8.5% to 7,791.50 rupees, hitting a record high; last up 7.4% ** The engineering services firm reports an ~88% jump in March-qtr profit to 4.59 billion Indian rupees (nearly $55 million), beating analyst estimates ** "Strong beat on all fronts" whi
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Engineering firm ABB India posts 88% rise in Q1 profit on robust demand

Engineering firm ABB India posts 88% rise in Q1 profit on robust demand BENGALURU, May 10 (Reuters) - Engineering services firm ABB India ABB.NS on Friday reported an about 88% jump in its first-quarter profit, surpassing analysts' expectations, backed by higher demand at its biggest segment. Profit at the domestic arm of Switzerland's ABB ABBN.S rose to 4.59 billion Indian rupees ($54.97 million) in the three months ended March 31, from 2.45 billion rupees a year earlier.
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Citi double upgrades Legrand on expected growth in data centres, office market

BUZZ-Citi double upgrades Legrand on expected growth in data centres, office market ** Citi double upgrades French electrical equipment maker Legrand LEGD.PA to "buy" from "sell", citing an anticipated growth in IT server shipments and recovery signs in the office construction and renovation markets ** Shares in Legrand rise about 2%, topping Franc
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India economic, corporate events on May 10

DIARY- India economic, corporate events on May 10 BENGALURU, May 10 (Reuters) - Diary of India economic, corporate events on May 10. ECONOMIC, CORPORATE .BSE500 EVENTS: RIC Local Start Date Local Start Time Indicator Name Period Reuters Poll Prior INIPSO=ECI 10 May 2024 07:30 LSEG IPSOS PCSI May 66.96 INIP=ECI 10 May 2024 17:30 Industrial Output YY Mar 5.1% 5.7% INIPC=ECI 10 May 2024 17:30 Cumulative Ind.
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