VoxSmart appoints form TPIcap and HSBC execs to head up new Markets division

Wednesday, 28 October 2020, 12:35:00
VoxSmart, the global leader in Communications Surveillance has selected two markets experts to create a new Markets division. Andrew Stone and Lloyd Jensen will help VoxSmart further strengthen their products and services for Financial Markets participants.
— Finextra Research

Deutsche Bank Lifts Outlook After Trading Beats Wall Street

Wednesday, 28 October 2020, 07:43:49
(Bloomberg) — Deutsche Bank AG raised the outlook for the investment bank after its debt traders snapped a long streak of losing market share with a Wall Street-beating result that more than offset weakness in the corporate bank.Income from trading fixed-income securities and currencies at Germany’s largest lender rose 47% in the third quarter, compared with an average of 25% for the five biggest U.S. investment banks. Among the large investment banks have reported earnings so far, only Goldman Sachs Group Inc. did better with a 49% increase. Overall, results topped estimates with the bank posting an unexpected profit of 182 million euros ($214 million), compared with a loss analysts had predicted.Deutsche Bank said the securities unit continues to perform well so that revenue there will be “significantly higher” for the full year, Deutsche Bank said. It had previously guided only for higher revenue at the business.The trading unit, still one of the biggest in Europe for fixed income, has provided an unexpected boost as it benefited from a market rally that started late last year and accelerated with the coronavirus pandemic.
— Yahoo Finance

World’s Biggest IPO Is 284x Oversubscribed As Chinese Banks Give Retail Investors 33x Margin Leverage

Wednesday, 28 October 2020, 03:25:00
World’s Biggest IPO Is 284x Oversubscribed As Chinese Banks Give Retail Investors 33x Margin Leverage Tyler Durden Tue, 10/27/2020 – 22:25 Yesterday we reported that the world’s biggest IPO – that of Jack Ma’s fintech giant Ant Group – which priced on Monday at a valuation of over $320 billion and which will raise $34 billion in new capital, is set to break for trading later this week. Earlier today, Bloomberg reported that Ant Group’s bankers would stop taking investor orders for the Hong Kong leg of the IPO a day earlier than scheduled as the record stock sale has already been heavily subscribed. According to the report, demand has been so great the Hangzhou-based firm is set to close the institutional investor. The company was initially planning to close the Hong Kong book at 5 p.m. Thursday for each region globally. The potential move would bring the closing in line with the Shanghai leg. As a reminder, the financial technology company, which is controlled by Alibaba’s billionaire founder Jack Ma, priced its Shanghai stock at 68.8 yuan ($10.27) apiece and its Hong Kong shares at HK$80 ($10.32) each, valuing the company at about $280 billion before it makes its market debut on November 5.
— Zero Hedge

ALEX BRUMMER: Piling up the coronavirus bills

Wednesday, 28 October 2020, 00:27:26
Finding positives amid the corporate gloom unsheathed by three FTSE100 big beasts, HSBC, BP and Whitbread, is extraordinarily difficult.
— Daily Mail Online

Coronavirus scythes through corporate Britain

Wednesday, 28 October 2020, 00:27:17
As fears of a second wave of infections again rocked stock markets worldwide, FTSE 100 giants HSBC and BP reported a dramatic fall in profits while Whitbread racked up a £725m loss.
— Daily Mail Online