Posts from Tuesday Jul 8 2014

A price spike story

The FCA is in danger of attracting regular readers to its Market Watch newsletter. Here’s an extract from Edition No. 46, about this momentary spike in the price of HSBC back in January…

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Welcoming Matomy, with eager anticipation… (updated)

Sorry, at pixel the doc was still not available for the leading digital performance-based marketing company, Matomy Media, which is joining the London market. We’ll update this post if and when we can. The Matomy Media prospectus has arrived (Wednesday, belatedly), so we can replace the placeholder image with the real doc…

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A Shire bump

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A peace of paper profits

The fight between creditors and shareholders of Apollo-backed Verso Paper looks near an end. We’ll give you the short version of the complex merger of coated paper rivals Verso and NewPage below, but for the full backstory go to our March post here.

So, in January Verso said it would buy privately-held NewPage Holdings. As well as cost cuts, another mooted benefit of the deal was a debt restructuring that would first force severe haircuts on two tranches of distressed Verso debt (between 47 and 57 cents on the dollar). Verso shares, previously worth less than a dollar, jumped 600 per cent. Read more

Markets Live: Tuesday, 8th July, 2014

Live markets commentary from FT.com 

The (early) Lunch Wrap

Overcapacity a problem for Air France-KLM || India to rebuild rail with FDI || Samsung profits fall || European stock issuance above US || Philips shakes up healthcare || Israel strikes Gaza || Sterling down Read more

Further Reading

Elsewhere on Tuesday,

- The incredible shrinking insider trading case.

- Education and the American Dream, not so much for the poor.

- Peak kickstarter, crowdfunding and the potato salad corollary. Read more

The 6am London Cut

Creditors offer Argentina breathing room in debt restructuring dispute: Holdout investors who rejected Argentina’s debt restructurings in the wake of its $95bn default have said they are prepared to give Buenos Aires extra time to settle, but only if the country negotiates in good faith. (FT)

ECB under pressure to tackle ‘crazy’ euro: The European Central Bank is being pushed to take action against a persistently strong euro with a leading industrialist calling on Frankfurt to tackle the “crazy” strength of the currency. Fabrice Brégier, chief executive of Airbus’s passenger jet business, said the ECB should intervene to push the value of the euro against the dollar down by 10 per cent from an “excessive” $1.35 to between $1.20 and $1.25. (FTRead more