Latest news with #CommerzbankAG
Mint
09-07-2025
- Business
- Mint
European Stocks Gain as UniCredit Rally Lifts Banks; WPP Sinks
European stocks rose for a third day, with banks leading gains on the back of a rally in UniCredit SpA, while advertising group WPP Plc sank 15% after it tempered its revenue outlook. The Stoxx Europe 600 Index gained 0.8% at 12:28 p.m. in London. UniCredit SpA advanced 3.5% after it doubled its equity stake in German rival Commerzbank AG to about 20%, fueling renewed speculation around potential banking deals in Europe. The Stoxx 600 Banks Index rose 1.8%. Miners dropped after President Donald Trump indicated the US would implement a higher-than-expected 50% tariff on copper imports. Health care stocks also underperformed as Trump threatened levies of as much as 200%. WPP shares slumped after the firm lowered its full-year outlook as it struggles with weaker-than-expected client spending and new business. EssilorLuxottica SA rose 5.7% as Bloomberg News reported that Meta Platforms Inc. bought a minority stake in the world's largest eye-wear maker. European stocks have meandered this month as lingering trade uncertainty kept a lid on risk demand. The benchmark Stoxx 600 is still about 3% below its March record high, and has trimmed most of this year's outperformance versus US stocks in local currency terms. The European Union is reportedly nearing a trade deal with the US, with negotiators focusing on protecting key industries from massive tariffs set to hit the bloc's exports as soon as Aug. 1. Trump stressed he would not offer additional extensions on country-specific levies. 'Investors are optimistic about a deal in Europe and are front-running it with gains,' said Georges Debbas, head of European equity derivatives strategy at BNP Paribas Markets 360. 'On top of that, positioning remains low and European stocks have underperformed the US recently so the market does have the scope to gain further in the short term.' Focus next week will turn to the second-quarter earnings season as investors look for clues on the impact of higher tariffs. Goldman Sachs Group Inc. strategists said they remain tactically neutral on equities. The team including Christian Mueller-Glissmann expects to see a worsening growth and inflation mix in the second half of the year, saying that 'elevated risk appetite increases risk of disappointments.' In other movers, Semco Technologies SAS surged 45% in its Paris trading debut on Wednesday. For more on equity markets: You want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here. With assistance from Paul Jarvis. This article was generated from an automated news agency feed without modifications to text.
Mint
04-07-2025
- Business
- Mint
Commerzbank Plans to Sell SRT Tied to €2 Billion of Loans
(Bloomberg) -- Commerzbank AG plans to sell a significant risk transfer tied to a portfolio of corporate loans, according to people familiar with the matter, as the German lender moves to free up capital to fend off a potential takeover bid from UniCredit SpA. Frankfurt-based Commerzbank aims to issue an SRT tied to €2 billion ($2.4 billion) of loans, according to the people, who asked not to be named. The size of the SRT would be around 6.9% of the reference portfolio or about €140 million, they added. A representative for Commerzbank declined to comment. While Commerzbank has used SRTs for years, such transactions are now part of a wider plan by Chief Executive Officer Bettina Orlopp to keep the lender independent. Moody's Ratings on Thursday raised Commerzbank's credit rating, citing strengthened capitalization and improved profitability. UniCredit, led by Chief Executive Officer Andrea Orcel, bought a stake in Commerzbank from Germany's government in September and subsequently increased its holding. Orcel has renewed his push for a deal that he says would create a European banking champion, sending a letter last month to top German officials including Chancellor Friedrich Merz. Orlopp is seeking to unlock more capital, partly by using more significant risk transfers. Commerzbank's corporate clients unit expects SRTs to help it cut €10 billion in so-called risk-weighted assets in the years through 2028, division head Michael Kotzbauer said in a presentation on Thursday. Global sales of SRTs are expected to grow 11% on average over the next two years, according to a recent Bloomberg Intelligence survey. Aareal Bank AG, Erste Group Bank AG, Standard Chartered Plc and ING Groep NV are currently discussing or finalizing such deals. More stories like this are available on
Yahoo
01-07-2025
- Business
- Yahoo
Gold Rises With Trump's Tax Bill Seen Widening US Deficits
(Bloomberg) -- Gold rose for a second day as investors weigh President Donald Trump's tax bill, which is expected to further expand US deficits. Struggling Downtowns Are Looking to Lure New Crowds Philadelphia Transit System Votes to Cut Service by 45%, Hike Fares Sprawl Is Still Not the Answer California Exempts Building Projects From Environmental Law Bullion gained as much as 1.7%, further paring its losses in the past two weeks, while US stocks edged lower and the dollar was near three-year lows. The US Senate passed the bill that combines $4.5 trillion in tax cuts with $1.2 trillion in spending reductions. The US government pushing through the spending bill means that 'fiscal risks are likely to come to the fore,' analysts at Commerzbank AG said in a note, potentially benefitting gold's haven asset appeal. Gold's gains eased slightly after US jobs data came in hotter than expected, reducing the outlook for monetary easing that tends to benefit the non-interest bearing precious metal. The S&P 500 dipped after a rally that drove stocks to successive all-time highs. Gold is up by more than a quarter this year, trading about $160 short of April's record, supported by elevated trade and geopolitical risks. Uncertainty over the long-term impact of Trump's tariff and fiscal agendas on the economy saw a gauge of the dollar drop almost 11% in the first six months of year, the worst performance since 1973. That makes gold cheaper for buyers in most other currencies. 'Gold, despite its recent losses, has the most potential to gain in the short term if the US dollar continues to decline,' Commonwealth Bank of Australia analyst Vivek Dhar said in a note. Spot gold was up 1.2% to $3,342.65 an ounce at 12:40 p.m. in New York. The Bloomberg Dollar Spot Index was flat, after falling 0.5% Monday. --With assistance from Sybilla Gross. America's Top Consumer-Sentiment Economist Is Worried SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too How to Steal a House China's Homegrown Jewelry Superstar Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate ©2025 Bloomberg L.P.
Cision Canada
02-06-2025
- Business
- Cision Canada
Dr Manfred Knof joins DeFi Technologies as Chairman of Valour and Strategic Advisor
DeFi Technologies appoints former Commerzbank CEO Dr. Manfred Knof as Strategic Advisor to DeFi Technologies and Chairman of Valour, bringing decades of executive leadership experience in European banking and finance. Dr. Knof will drive global growth and institutional expansion for Valour by leveraging his extensive industry network to scale assets under management, deepen institutional relationships, and support product and market development. TORONTO, June 2, 2025 /CNW/ - DeFi Technologies Inc. (the " Company" or " DeFi Technologies") (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance ("DeFi"), is pleased to announce the appointment of Manfred Knof, former CEO of Commerzbank AG, as Strategic Advisor to DeFi Technologies and Chairman of its subsidiary Valour Inc. (" Valour"), a leading issuer of exchange-traded products (" ETPs") providing simplified access to digital assets, This engagement marks a significant milestone in DeFi Technologies' and Valour's mission to expand regulated access to digital assets. With a robust suite of over 65 fully hedged digital asset ETPs already listed across major European exchanges—including Xetra (Germany), Spotlight (Sweden), and Euronext (Paris and Amsterdam)—Valour aims to expand and bring secure and simplified exposure to digital assets worldwide. As Chairman of Valour, Mr. Knof will leverage his extensive senior leadership experience in the European banking and finance sectors to support Valour's ambition of increasing assets under management (" AUM") through institutional partnerships with leading financial institutions. Mr. Knof will also help to expand equity research coverage and deepen relationships with institutional investors to consolidate and expand DeFi Technologies' investor base on the back of the Company's recent Nasdaq listing. Olivier Roussy Newton, Founder and CEO of DeFi Technologies, commented: "We are proud to welcome Dr. Manfred Knof as Chairman of Valour. His track record as a transformational leader in European finance and his commitment to sustainable, client-focused growth make him the ideal partner for our next chapter. This collaboration underscores our commitment to building robust, compliant, and long-term bridges between global investors and decentralized finance." Mr. Knof added: "I am excited to join DeFi Technologies at this pivotal time for the digital asset industry. Together, we will work to expand institutional access to digital assets and reinforce Valour's position as a trusted, innovative partner for investors worldwide." About Dr. Manfred Knof Mr. Knof is the former Chairman of the Board of Managing Directors (CEO) of Commerzbank AG, where he led a comprehensive transformation that returned the bank to profitability and strengthened its position among Europe's leading financial institutions. His previous roles include CEO of Allianz Deutschland AG and senior leadership positions at Deutsche Bank and Dresdner Bank. Mr. Knof holds a doctorate in law from the University of Cologne and an MBA from NYU Stern School of Business. During his tenure at Commerzbank, Mr. Knof was responsible for Strategy, Transformation & Sustainability, Audit and Research. He is recognized for his focus on sustainable growth, efficient structures, and value creation for clients, shareholders, and society. His proven track record to drive institutional transformation and resilience will be instrumental in Valour's next phase of growth. About DeFi Technologies DeFi Technologies Inc. (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B) is a financial technology company bridging the gap between traditional capital markets and decentralized finance (" DeFi"). As the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to over sixty-five of the world's most innovative digital assets via regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and DeFi Alpha, the Company's internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, DeFi Technologies is building the institutional gateway to the future of finance. Follow DeFi Technologies on LinkedIn and X/Twitter, and for more details, visit About Valour Valour Inc. and Valour Digital Securities Limited (together, " Valour") issues exchange traded products (" ETPs") that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies. For more information about Valour, to subscribe, or to receive updates, visit Cautionary note regarding forward-looking information: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the appoints of officers and directors; increase in AUM; investor interest and confidence in digital assets; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by the Company and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the acceptance of Valour ETPs by exchanges; growth and development of decentralised finance and cryptocurrency sector; rules and regulations with respect to decentralised finance and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Yahoo
02-06-2025
- Business
- Yahoo
Dr Manfred Knof joins DeFi Technologies as Chairman of Valour and Strategic Advisor
DeFi Technologies appoints former Commerzbank CEO Dr. Manfred Knof as Strategic Advisor to DeFi Technologies and Chairman of Valour, bringing decades of executive leadership experience in European banking and finance. Dr. Knof will drive global growth and institutional expansion for Valour by leveraging his extensive industry network to scale assets under management, deepen institutional relationships, and support product and market development. TORONTO, June 2, 2025 /CNW/ - DeFi Technologies Inc. (the "Company" or "DeFi Technologies") (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance ("DeFi"), is pleased to announce the appointment of Manfred Knof, former CEO of Commerzbank AG, as Strategic Advisor to DeFi Technologies and Chairman of its subsidiary Valour Inc. ("Valour"), a leading issuer of exchange-traded products ("ETPs") providing simplified access to digital assets, This engagement marks a significant milestone in DeFi Technologies' and Valour's mission to expand regulated access to digital assets. With a robust suite of over 65 fully hedged digital asset ETPs already listed across major European exchanges—including Xetra (Germany), Spotlight (Sweden), and Euronext (Paris and Amsterdam)—Valour aims to expand and bring secure and simplified exposure to digital assets worldwide. As Chairman of Valour, Mr. Knof will leverage his extensive senior leadership experience in the European banking and finance sectors to support Valour's ambition of increasing assets under management ("AUM") through institutional partnerships with leading financial institutions. Mr. Knof will also help to expand equity research coverage and deepen relationships with institutional investors to consolidate and expand DeFi Technologies' investor base on the back of the Company's recent Nasdaq listing. Olivier Roussy Newton, Founder and CEO of DeFi Technologies, commented: "We are proud to welcome Dr. Manfred Knof as Chairman of Valour. His track record as a transformational leader in European finance and his commitment to sustainable, client-focused growth make him the ideal partner for our next chapter. This collaboration underscores our commitment to building robust, compliant, and long-term bridges between global investors and decentralized finance." Mr. Knof added: "I am excited to join DeFi Technologies at this pivotal time for the digital asset industry. Together, we will work to expand institutional access to digital assets and reinforce Valour's position as a trusted, innovative partner for investors worldwide." About Dr. Manfred Knof Mr. Knof is the former Chairman of the Board of Managing Directors (CEO) of Commerzbank AG, where he led a comprehensive transformation that returned the bank to profitability and strengthened its position among Europe's leading financial institutions. His previous roles include CEO of Allianz Deutschland AG and senior leadership positions at Deutsche Bank and Dresdner Bank. Mr. Knof holds a doctorate in law from the University of Cologne and an MBA from NYU Stern School of Business. During his tenure at Commerzbank, Mr. Knof was responsible for Strategy, Transformation & Sustainability, Audit and Research. He is recognized for his focus on sustainable growth, efficient structures, and value creation for clients, shareholders, and society. His proven track record to drive institutional transformation and resilience will be instrumental in Valour's next phase of growth. About DeFi TechnologiesDeFi Technologies Inc. (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B) is a financial technology company bridging the gap between traditional capital markets and decentralized finance ("DeFi"). As the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to over sixty-five of the world's most innovative digital assets via regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and DeFi Alpha, the Company's internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, DeFi Technologies is building the institutional gateway to the future of finance. Follow DeFi Technologies on LinkedIn and X/Twitter, and for more details, visit About ValourValour Inc. and Valour Digital Securities Limited (together, "Valour") issues exchange traded products ("ETPs") that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies. For more information about Valour, to subscribe, or to receive updates, visit Cautionary note regarding forward-looking information: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the appoints of officers and directors; increase in AUM; investor interest and confidence in digital assets; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by the Company and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the acceptance of Valour ETPs by exchanges; growth and development of decentralised finance and cryptocurrency sector; rules and regulations with respect to decentralised finance and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. THE CBOE CANADA EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE View original content to download multimedia: SOURCE DeFi Technologies Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
