Berenberg Research Notes

ECONOMICS

24/04/2017

Economic Calendar

Economic Calendar

French presidential elections (1st round) (23 April) – four-way race between Macron, Le Pen, Fillon and Melenchon; see our report Europe’s moment of truth: French scenarios

German Ifo business climate (24 April)

BoJ, ECB meetings (27 April)

French, UK, US GDP (28 April)

Eurozone inflation (28 April)

View the Economic Calendar the week starting on 24th april 2017

SchmiedingBlog

Picture of Dr. Holger Schmieding

SchmiedingBlog

In his webblog Berenberg's chief economist Dr Holger Schmieding writes about current market events - and his view on them.

 
 

 Seit 1993 berichtet Dr. Schmieding über die Finanzwelt.

 

 

Aktuelle Themen der Finanzwelt werden beleuchtet und kritisch hinterfragt.

Forecasts at a glance

16/09/2016

Diverse Fahnen

Forecasts at a Glance

A weekly update by our economists

Read more

Equity Capital Markets

29/03/2017

Berenberg executes a multitude of transactions on the capital market

Having already successfully completed 121 equity placements with a total transaction volume of more than EUR 30bn since the beginning of 2013, Berenberg has once more underlined its outstanding position in Equity Capital Markets (ECM). With 90 ECM transactions in the German speaking region alone since 2013, Berenberg is the #1 investment bank in Equity Capital Markets (by number of issues).

Berenberg is currently involved in the following transactions, while we are also preparing various transactions which are not public yet:

  • Griffin Premium RE.. B.V. (IPO, Joint Global Coordinator/ Joint Bookrunner)
Overview of ECM transactions

Berenberg Impulse

07/04/2016

DIVIDEND SEASON GATHERS PACE

Dividend season gathers pace

  • DAX companies will pay dividends at the record level of approximately €31 billion. 
  • High-dividend equities are a sensible alternative to low-yield bonds in the current environment.
    Read more in the Berenberg Impulse of April

    FIXED INCOME RESEARCH

    28/11/2014

    Fixed Income Sector Study: The German real estate industry

    The German real estate industry benefits from various megatrends, sound economic growth, and strong underlying structural factors. We see strong upside potential particularly for convertible bonds issued from German residential real estate companies.

    Companies covered in this study:

    • Adler Real Estate AG
    • Deutsche Annington AG
    • Deutsche Wohnen AG
    • DIC Asset Management AG
    • GAGFAH S.A.
    • Grand City Properties S.A.
    • LEG Immobilien AG
    • TAG Immobilien AG
    Read more here...

    STUDY

    16/05/2014

    Cover of the Football-Study

    Berenberg/HWWI study: “No economic upswing in Brazil due to the World Cup”

    In a new study entitled Strategy 2030 – Brazil and the 2014 World Cup, Berenberg and the Hamburg Institute of International Economics (HWWI) examine Brazil’s economic outlook in relation to the World Cup.

    Read more

    Debt Capital Markets

    22/02/2017

    Debt Capital Markets Team with a successful start in 2017

    After a very strong track record last year, Berenberg’s Debt Capital Market Team underpinned its strong markets presence by acting as joint bookrunner for Vonovia’s EUR 1bn BBB+ rated dual tranche 5-year and 10-year bond placement. On the same day, Berenberg priced as joint global coordinator Hapag-Lloyd’s EUR 250m High-Yield Bond placement at a coupon of 6.75%. Hapag-Lloyd’s new issue also saw strong investor demand and was therefore upsized by EUR 100m and priced below the initial price guidance of 7% area.

    Also in January, Berenberg successfully placed the debut bond of Sixt Leasing SE in its role as joint bookrunner. The non-rated bond issue with a maturity of 4 years was oversubscribed multiple times and was successfully priced below the initial price guidance. The annual coupon was set at 1.125%.  Furthermore, our team is currently working on several non-public debt and equity-linked transactions which are expected to be closed in due course.

    Throughout the last years, Berenberg has successfully expanded its already prominent position in the field of European debt capital markets by successfully originating primary market transactions including bonds, convertible bonds as well as promissory notes (Schuldscheindarlehen).

    Selected DCM transactions

    A quantitative perspective

    Emerging Markets

    Investments in emerging markets are characterised by significant growth opportunities and abundant investment options. Berenberg offers quantitative strategies in the asset classes equity and fixed income as well as currencies.

    Emerging Markets

    News

    30/10/2014

    Global Private Banking Awards: Berenberg named “Best Private Bank in Germany“ for the fourth consecutive year

    Hamburg. Berenberg has, once again, been recognised as Best Private Bank in Germany at the 2014 The Banker & PWM Global Private Banking Awards. This is the fourth consecutive year that Berenberg has won in this category – the only bank in the history of the awards to have achieved this.

    Read more
    Berenberg Wappen