China

Ethiopia inaugurates Chinese-built electric power distribution upgrading project

Xinhua News Agency | Mar 15, 2019 at 6:48 PM
  • Ethiopia on Friday inaugurated a Chinese-built power distribution, rehabilitation and upgrading project.
  • Built by the China Electric Power Equipment and Technology Co. Ltd (CET), a subsidiary of State Grid Corporation of China, the 61 million U.S. dollar “8 Major Cities Distribution Rehabilitation and Upgrading Project” is financed by the World Bank.
  • Chinese ambassador to Ethiopia, Tan Jian, congratulated the Ethiopian government on the completion of the much-anticipated electric power distribution project, the latest outcome of the comprehensive and strategic cooperation between Ethiopia and China.

United States

What Would a JAB Holding Company IPO (or Two) Look Like?

Fox Business | Mar 15, 2019 at 6:48 PM
  • JAB Holding Co. owns Panera Bread, Krispy Kreme, Peet’s, a variety of coffee brands, and a major stake in Keurig Dr Pepper (NYSE: KDP).
  • For investors that may not be familiar, JAB Holdings is a private company that owns major stakes in a lot of consumer and restaurant retail brands, things like Panera, Krispy Kreme Doughnuts, Keurig Dr Pepper.
  • The Motley Fool recommends Dunkin’ Brands Group.

China

Hong Kong Fines Brokerages $100 Million for Failures in Vetting Listings

Caixin Global | Mar 15, 2019 at 6:26 PM
  • Hong Kong’s securities regulator has fined four global brokerage firms, including an arm of Swiss banking giant UBS AG, a combined HK$7.87 billion ($100 million) for failing to do proper due diligence on companies they sponsored for initial public offerings (IPO).
  • The Securities and Futures Commission (SFC) slapped UBS Securities Hong Kong with a HK$375 million fine, the highest given to any of the four firms, and suspended it from sponsoring IPOs for 12 months.
  • The commission also fined Morgan Stanley Asia HK$224 million, Merrill Lynch Far East HK$128 million and Standard Chartered Hong Kong HK$59.7 million for their involvement in the IPOs of China Forestry Holdings Co. Ltd., Tianhe Chemicals Group Ltd., and another company that it did not identify.

China

British stocks up 0.60 pct Friday

Xinhua News Agency | Mar 15, 2019 at 6:17 PM
  • British stocks rose on Friday, with the benchmark FTSE 100 Index up by 0.60 percent, or 42.85 points, to close at 7,228.28 points.
  • Whitbread, a British multinational hotel and restaurant company, soared 4.84 percent, the top gainer of the blue chips.
  • Wm Morrison Supermarkets, a chain of supermarkets, was the worst performer in the blue chips.

China

Spanish stocks rise 1.44 percent on Friday

Xinhua News Agency | Mar 15, 2019 at 5:45 PM
  • Spanish shares climbed 1.44 percent on Friday, with the benchmark index Ibex-35 opening at 9,209.80 points and closing at 9,342.20 points.
  • Friday’s best performer was the textile giant Inditex, with a 3.55 percent rise in share prices, followed by the travel company Amadeus with a 3.05 percent increase and telecommunications giant, Telefonica.
  • Renewable energy and cellulose producer ENCE Energia y Celulosa saw shares reduced by 5.81 percent of their value, while shares in communications company, Cellnex Telecom dropped by 1.59 percent Colonial and there was a 0.81 percent loss in shares for property company Inmobiliaria Colonial.

China

U.S. stocks trade higher amid data, earnings

Xinhua News Agency | Mar 15, 2019 at 5:35 PM
  • U.S. stocks traded higher on Friday as investors digested the country’s key economic data as well as the latest corporate earnings reports.
  • The headline general business conditions index fell five points to 3.7, missing analysts’ estimates.
  • The shipments index declined three points to 7.7, a level indicating that shipments grew modestly, though representing the lowest reading in more than two years.

China

German shares edge up Friday

Xinhua News Agency | Mar 15, 2019 at 5:32 PM
  • German stocks edged up on Friday, with the benchmark DAX index up 98.22 points, or 0.85 percent, to close at 11,685.69 points.
  • Semiconductor manufacturer Infineon Technologies won the most among the blue chips, with its shares up 3.97 percent.
  • Global internet technology and financial services provider Wirecard lost the most among the blue chips, by falling 8.78 percent.

Malta

BOV share prices surges over 6%

Times of Malta | Mar 15, 2019 at 5:31 PM
  • The MSE Equity Price Index approached the 4,700 mark as it jumped by just over 1% to 4,691.124 points.
  • Malta International Airport plc (457 shares) and Mapfre Middlesea plc (2,184 shares) maintained the €6.55 and €2.32 levels respectively.
  • Shareholders of Mapfre Middlesea as at close of trading on April 30 will be eligible for an ordinary net dividend of €0.0978 per share and a special net dividend of €0.08696 per share.