EU FINANCIALS: Schroders (SDRLN) - FY24 Results headlines
Mar-06 09:45
Profit beats expectations. Flows in line, but negative. £150m cost cutting measures announced.
- "Profit after tax GBP433 million, +7.6% y/y, estimate GBP420.8 million
- Group total outflows GBP4.7 billion
- Net outflows ex-JVs and associates GBP10.8 billion
- Asset management net outflows GBP17.1 billion, estimate outflows GBP17.23 billion
- Wealth Management net Inflows GBP6.3 billion, estimate GBP6.28 billion" - bbg
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SPAIN T-BILL AUCTION RESULTS: 6/12-month letras
Feb-04 09:43
| Type | 6-month letras | 12-month letras |
| Maturity | Aug 8, 2025 | Feb 6, 2026 |
| Amount | E1.916bln | E3.9bln |
| Target | E5.5-6.5bln | Shared |
| Previous | E2.026bln | E4.179bln |
| Avg yield | 2.355% | 2.221% |
| Previous | 2.535% | 2.367% |
| Bid-to-cover | 1.85x | 1.56x |
| Previous | 1.75x | 1.37x |
| Previous date | Jan 07, 2025 | Jan 07, 2025 |
NORWAY: New 10-year NGB Mandate
Feb-04 09:40
"The Kingdom of Norway, rated Aaa/AAA/AAA (all Stable) by Moody's/S&P/Fitch, has mandated Danske Bank, DNB Markets, Nordea and SEB to lead manage its forthcoming long 10-year (due 12 June 2035), fixed rate, NOK-denominated, RegS/144a format, syndicated benchmark Norwegian Government Bond (NGB) transaction. The transaction will be launched in the near future, subject to market conditions; FCA/ICMA Stabilisation" (Source: BBG)
- Norges Bank's 2025 borrowing plan noted that a new 10-year bond would be launched via syndication in February. From the plan: "The aim is an issuance volume of between NOK 20bn and NOK 25bn. In addition, NOK 4bn will be issued to the government’s own stock. The new bond will be reopened at auction."
US TSY/RECAP: Kion Headines
Feb-04 09:25
"*KION SEES 2025 FCF, NET INCOME SHORT OF MARKET EXPECTATIONS" - BBG
