Keppel’s Profits Rebound to S$300mn
Keppel Corp reported profits of S$300mn ($222mn) for 1H2021, reversing net losses of -S$537mn ($397mn) during the same period last year that was impacted by S$930mn ($687mn) of impairments in its O&M business. All of its key business units reported a better...
Peru’s Dollar Bonds Fall on Constitution Risks
Peru’s dollar bonds slid as President Pedro Castillo announced plans of a new constitution and a crackdown on monopolies in the financial and utility sector. Castillo won the election last month after which his market-friendly economic advisors relieved investors who...
India Cleantech Launches $ Bond; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US markets shed the risk-off sentiment with the S&P broadly flat while the tech heavy Nasdaq gained 0.7%. The upside was supported by Energy and Healthcare up 1% and 0.4% respectively while the indices were dragged down by Consumer Staples and Real Estate, down...
Evergrande Downgraded Two Notches to CCC+ by Fitch following S&P
Fitch downgraded Evergrande and its subsidiaries Hengda and Tianji by two notches to CCC+ from B citing diminishing margin of safety in preserving liquidity. Fitch notes that Evergrande’s liquidity is fragile with heavy reliance on renewing short-term banking...
Pemex Reports Quarterly Profits of $722.5mn
Mexico's Petroleos Mexicanos (PEMEX) released its Q2 numbers where it reported a quarterly net profit of $722.5mn, which the company said was driven by higher income from international sales. This came after PEMEX reported a loss of $1.9bn in 2Q2020 and a loss of...
Barclays, Santander, Deutsche Report Strong Profits
European banking majors Barclays, Deutsche Bank and Banco Santander reported strong results. Barclays reported quarterly attributable profits of £1bn ($2.9bn) vs. £90mn in 2Q2020. For the half year, its profits were at £3.8bn ($5.3bn) vs. £695mn ($968mn) in 1H2020....
Boeing Reports Surprise Profit
Boeing reported its first quarterly profit since 3Q2019 on Wednesday driven by higher commercial planes and services volumes as the travel sector staged a recovery from the post pandemic slump. The company reported a profit of $567mn during the quarter against a loss...
MAS Lifts Dividend Cap on Singapore Banks
Singapore’s central bank, the Monetary Authority of Singapore (MAS) lifted its caps on Singapore-based banking and financial companies’ dividend restrictions imposed last year after the pandemic’s impact. Around the same time last year, the MAS had asked local banks...
ESR REIT Launches S$ 5Y; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & Losers
US markets broke the winning streak on a risk-off sentiment. S&P and Nasdaq were both down 0.5% and 1.2%. The fall was led by Consumer Discretionary, IT, Energy and Communication Services, down more than 1%. Real Estate and Healthcare, up 0.8% and 0.4%...
