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  • Squawk / 1 hour ago
    Saxo Bank Senior Dealer Equity CFD's Market Making / Saxo Bank
    Denmark
    New York Closing Imbalances: buy side.
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  • Squawk / 2 hours ago
    Capital Markets / Banco Carregosa SA - GoBulling.com
    Portugal
    Is Italy overbanked? "We view the current business model for Italian banks as unsustainable, with 70% of traditional banking run by c.50 large/mid-sized banks and the remaining 30% covered by 600 small players. This suggests to us that there are structural inefficiencies that are no longer sustainable. For this reason we think consolidation is likely to happen in the popolari sub-space, mainly in the form of mergers of equals. Consolidation in a highly fragmented and thus highly competitive environment (~700 banks in total) can bring about significant changes in terms of pricing and costs (as we have seen in Spain)."
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  • Squawk / 3 hours ago
    Capital Markets / Banco Carregosa SA - GoBulling.com
    Portugal
    Italian Banks - Bad bank reignites debate: key catalyst for 2015? -
    Expected M&A post popolari reform, together with acceleration of
    NPL rundowns, could potentially improve sector profitability and
    allow Italian banks to cover their CoE vs. our 6.7% ROTE 2017E. We expect news short term and see UCG/PMI as the best ways to play it. Assuming, for example, in an M&A scenario costs go down 10-15% for the combined entity, we estimate ROTE could improve on average 175-262bp to 8.4-9.3%. On top of that we see further upside if a bad bank is successful in normalizing loan loss provisions by 2017E to the tune of another 160bp for the midcaps (140bp including both ISP and UCG)." in Italian Banks - Matrix by Morgan Stanley - March 3, 2015
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  • Squawk / 6 hours ago
    Saxo Bank Senior Dealer Equity CFD's Market Making / Saxo Bank
    Denmark
    Technically we are looking at the first resistance level of this bounce in the S&P500 cash index to be the half back level/ 2,094. (SP500.I)
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  • Squawk / 7 hours ago
    Saxo Bank Senior Dealer Equity CFD's Market Making / Saxo Bank
    Denmark
    US stocks breaking lower. We start to see buy side trading flow at these levels (S&P500 2,088)
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  • 2h
    Serge Berger Serge Berger
    There you have the bullish reversal today, folks...