Bank of America

Paul Coulson has handed the reins to new chair Herman Troskie, but Ardagh’s €10.7bn debt pile means he can’t sit back and take it easy just yet

Euronext Dublin was flat as the week drew to a close but other European markets gained

Lender expresses optimism about US economic outlook

Earnings are expected to have shrunk in last quarter of 2023 due to unpaid debts and impact of high interest rates

Collectively, the big Wall Street banks cut at least 30,000 staff in 2023 with more cuts expected next year

ECB will slowly cut rates, one cut per quarter, for remainder 2024 and into 2025 as euro zone economy heads for ‘soft landing’, says US bank’s head of Europe economics research

Bank of America has a €25 price target on Ryanair shares, which are trading at about €16.50 currently

Labour costs account for 76% of company costs, so strikes could lead to lower profit margins

Companies are beating estimates but warning of weak demand ahead

Current move towards cash looks more understandable, given rapidly rising interest rates

Wall Street’s fear index is showing little sign of overt concern about events in Middle East and Ukraine

Spreads on euro-denominated junk bonds rise to widest levels since 2016

Earnings growth trails rivals but lender buoyed by strong performance in investment banking and sales and trading

Investors keep eye on geopolitical tensions ahead of trip by US president Joe Biden to Israel

British medicines group and US rival Pfizer have both committed to selling down stakes over time to fund core pharma operations

Iseq index underperformed its peers, shedding 0.1%

Bank of Ireland hire is part of CEO of corporate and commercial banking Gavin Kelly’s overhaul of unit he took charge of in March

Risk appetite has increased but remains low despite strong gains of recent months

Moody’s cuts credit ratings of 10 small to midsized US banks, while Bank of Ireland, AIB and PTSB suffer losses

Signs are stocks are in a position to continue climbing the proverbial wall of worry

Stocks have delivered among the best results in the past two decades in the first half of this year

Profits surging as bank pays average of 0.03% on most household deposits, even as ECB paying lender 3.5% for funds deposited with it

Latest share sale will reduce the Government’s holding to 46.9%

Stocktake: It sure looks that way given that the S&P 500 has risen more than 20% since bottoming last October

Stocktake: Investors have piled into tech stocks in a ‘flight to safety’ but are cautious about equities in general

Equity allocations have been ‘creeping higher’ and are now at five-month highs as investors bet on a soft landing

Latest Bank of America European fund manager survey indicates investors believe continent will avoid recession despite fall-off in demand

Shareholders hear criticism of US bank executives and vote against climate and ESG motions

Firm sets aside $106 million to cover potential soured loans

Percentage of companies beating estimates is the highest in over a decade

Managers may reverse course and start buying if the ‘consensus lust for recession’ is not immediately satisfied in the second quarter

Euronext Dublin outperforms European peers as a number of its heavy hitters drag it up almost 1.5%

Fresh turmoil expected when results reveal just how badly midsized lenders’ earnings have been hit

Ireland now the sixth largest exporter of financial services globally

Fund managers are steering clear of stocks and are especially wary of the world’s biggest market, with allocations to the US falling to 18-year lows

Deutsche Bank leads sell off across Europe

Turbulence on stock markets once more as investors fear contagion from collapse of Silicon Valley Bank

Irish bank shares slump in line with European lenders

Sell-off sparked by $1.8bn loss at Silicon Valley Bank

Cash allocations may have fallen, but they remain well above historical averages