The share of light trucks (such as pickups and heavy sport utility vehicles) in total vehicle sales has increased noticeably in the US of late, reaching a new high of over 60% at the end of 2015. This came at the expense of conventional passenger car sales. The huge slide in oil prices…
Italian banking sector is under pressure on the markets with a 20% negative performance since the start of the year. In Standard & Poor’s view three are the main weaknesses: nonperforming assets, structural rigidities and fragmentation.
Euro area January final manufacturing PMIs were unchanged from the flash reading at 52.3, consolidating December’s one and a half year high. Lower output and new orders…
Equity markets tumbled and volatility spiked at multi-year highs. After a short break driven by Ecb’s meeting and Mario Draghi’s press conference, the new week looks like to resemble the preceeding one. Financial markets remain volatile but there is no evidence of a more pronounced economic slowdown. Thus the recent selling looks overdone.
Recent market volatility in Italy has highlighted the vulnerability of some banks that are still in the process of restructuring. A prolonged period of high market volatility and uncertainty could affect Italia banks’ ongoing restructuring plans.
BlackRock expects a ongoing volatility, but remember that while rates are no longer at zero, they remain extremely low, and will likely remain low for some time.
Generali Group announces that Alfred Leu, currently CEO of Generali Switzerland Holding, has been appointed as CEO of Generali Holding Vienna AG and Generali Versicherung AG as from the 1st January 2016. Peter Thirring will resign as CEO of both companies for personal reasons. Jaime Anchustegui, head of EMEA Regional Office, will lead the Generali Switzerland Holding in the interim-period.
Although the recession of 2009-2014 has officially ended, the operating environment for Italian utilities remains tough. A moderate economic recovery and a shift toward energy efficiency are reducing the demand for power. However, the Italian utilities rated by Standard & Poor’s Ratings Services have lost none of the resilience they demonstrated toward the harshest recession in the country’s history. For most Italian utilities we rate, this resilience is partly attributable to the share of regulated activities in their business mix, which has enabled stable financial performance despite weak economic conditions.
