EU CONSUMER CYCLICALS: Coty: Management Shake-Up (FT)
Dec-12 16:06
(COTY: Ba1/BBB- Neg/BBB-)
- "Coty’s controlling shareholder JAB Holdings is planning a leadership overhaul at the ailing beauty group that will result in chair Peter Harf stepping down, with chief executive Sue Nabi set to follow after overseeing a period of poor performance." - FT
Re. the Gucci license which Kering has announced it will shift to L'Oréal on maturity (likely 2028);
- "Nabi turned down substantial financial offers from L’Oréal to end the Gucci licence early, according to three people with knowledge of the situation." - FT
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GILT AUCTION PREVIEW: On offer next week
Nov-12 15:30
The DMO has announced it will be looking to sell GBP4.5bln of the 4.75% Oct-35 Gilt (ISIN: GB00BTXS1K06) at its auction next Wednesday, November 19.
SOFR OPTIONS: Midcurve outright Call buyer
Nov-12 15:25
3QM6 96.87c, bought for 13.5 in 2kl.
EUROSTOXX50 TECHS: EUROSTOXX50 Futures Bull Cycle Extends
Nov-12 15:22
- A medium-term bull trend in EUROSTOXX 50 futures remains intact.
- The contract has traded through resistance at 5742.00, the Oct 29 high to confirm a resumption of the uptrend.
- This paves the way for an extension within the bull channel.
- On the downside, initial firm support is seen at levels around the 20-day EMA.
