The results of Climate talks on Wednesday?

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The main results of the global climate talks COP21 in Paris  will be announced on Wednesday this week. According to BBC News and Huffington Post, negotiations are expected to conclude on Wednesday  and the final agreement would be ready later this week. The official signing ceremony would then be in 2016.

The biggest issues are still the 2 degrees Celsius versus 1,5 Celsius target. According to the news, France and Germany have joined the countries demanding the 1,5 degrees Celsius in order to protect the most vulnerable countries. The second big discussion issue is the financing of the climate fund.

Business Finance

Portfolio Decarbonization Coalition to reach 230 billion dollars AUM before the Paris talks

The Portfolio Decarbonization Coalition (PDC) has reached 230 billion dollars assets under management before the Paris COP21 meeting. The initial target was 100 billion dollars, so it shows a dramatic increase in the target.

The new members include for example Hermes Investment Management in the UK, MN Services in Netherlands, BNP Paribas Investment Partners and Caisse des Depots in France.

– As one of the founding members of the Portfolio Decarbonization Coalition, Amundi is honored to see the Coalition reach and exceed the US 100 billion dollars target. It sends a signal to the markets that asset owners are tackling climate change related risks on a large scale. Amundi will continue to actively support the Coalition and investors by providing innovative investment solutions and affirming its role as a corporate citizen, said Mr. Yves Perrier, CEO of Amundi in the PDC´s press release.

According to Mr Frederic Samama, Amundi Deputy Global Head of Institutional & Sovereign Clients, this autumn has been very positive towards the low carbon thinking.

– We have never seen such a movement towards portfolio decarbonization as now before the Paris COP21. And there might be the possibility that the target will even grow from this during the climate talks, he says.

– Many asset owners have realised that this is a question of risk management of climate change and economic decisions. And we in Amundi have been pleased to help the financial markets to hedge the climate change risk as we introduced the first low carbon products this year, he continued.

The Portfolio Decarbonization Coalition is a multi-stakeholder initiative that will drive greenhousegas emissions reductions by decarbonization of portfolios. The coalition was founded by UNPE FI, Amundi, AP4 and CDP in September 2014.

– It is cruisial, and my responsibility, that we create the right outcomes from our investment decisions – and the right outcomes on a 30-year time horizon are those that mitigate risk, including carbon risk, said Saker Nusseibeh, the CEO of Hermes Investment Management in the release.

– In line with our duty to our long term customers and our 20 year history of sustainable investments, we are proud to join the PDC. It is a natural step for us to join a community of peers to share learning and inspire the business on lowering carbon risk and creating value to investors, said Odd Arild Grefstad, CEO of Storebrand.

– The PDC offers us a valuable platform of like-minded parties with whom we can collaborate to fulfill our clients climate action agenda, said Rene van de Kieft, CEO MN Services in the Netherlands.

Portfolio Decarbonization Coalition (PDC) members include A Capital, Amundi,AP4, Australian Ethical Investment, Church of Sweden, Environment Agency Pension Fund, ERAFP, Fonds de Reserves des Retraites, KLP, Local Government Super, Mandatum, Mirova, Point Capital Management, Robeco SAM, Sonen capital, Storebrand, Toronto Atmospheric Fund, University of Sydney, Hermes Investment Managment, BNP Paribas Investment Partners, CDC, Storebrand, MN Services in the Netherlands, Humanis.

Amundi is the European leader in Asset Management industry with AUM more than 950 billion euros. The company is known for its product performance and transparency, quality of client relationships based on long-term advisory approach, efficiency and commitment to sustainable development and socially responsible investment policies.

http://www.amundi.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Finance

Asian stock markets were steady during Monday

The Asian Stock Markets were steady during the Monday trading after the Paris Attack in France on Friday. The Nikkei Stock Average 225 fell 1,04 percent, but the Shanghai Composite Index rose 0,73 percent. Hang Seng Index was down 1,50 percent.

According to the markets, airline and tourism stocks were the most decliners, but the overall trading volume was light. For example in Tokio the volume was 1,78 billion shares. The markets were expecting the trading to start in Europe to see how the markets are developing further.

Business Finance

Financial markets are expected to open normally on Monday after ParisAttack

Financial markets are expected to open normally on Monday after the Paris attack. During the attack at least 129 people were killed on the streets and in a concert venue late on Friday night. Several market professionals are expecting the market opening in Asia to be smooth and thus avoiding big changes. This will help the opening bell in Europe as well.

– History will tell us that if the economic impact is limited, and I think it will be, the markets will quickly recover, said head of strategy Shane Oliver from Australia AMP Capital to Reuters.

Euronext, the Paris Stock Exchange also informed during the weekend, that the markets will open normally on Monday. One of the newcomers in the Stock Exchange is Amundi Asset Management, which started trading last week. Amundi´s market cap is about 7,7 billion euros and the company´s IPO was the biggest IPO in Paris in ten years.

The Paris Attack might have some impact on the tourism, while the country is the number one for global travellers. This industry sectors accounts about 7,5 percent of the country´s GDP. The Group20, with leading industry leaders, will meet today on Sunday in Turkey to discuss about the Paris Attack.

Business Finance

Tesla on track with Model S deliveries – new CFO from Google

The Californian electric car manufacturer Tesla (TSLA) announced yesterday evening its third quarter results. According to the press release, the deliveries of the sport utility vehicle (SUV) Tesla S-model is on track and the company said it will reach the year targets this year. Tesla said it has delivered a record of 11.603 new cars during the quarter and expect the shippings to be 17.000 – 19.000 vehicles during the last quarter.

Tesla said also that the orders related to the new luxury crossover Model X have been accelerated during the period. The shippings are expected to happen during the next year in Europe. Third quarter revenue were 936 million dollars, compared to 954 million dollars during the previous quarter. Gross margin was 25,1 percent. Loss before income tax was 228 million dollars compared to loss of 188 dollars during the previous quarter. The loss per share was 1,78 dollars.

The company also said it has updated about 40 000 cars with its new autopilot programm. It helps drivers to avoid risks related to front and side collisions and keep the car on the road. On the other hand Tesla is also thinking ways how to enhance the safety issues among drivers when using autopilot.

Company also announced a new CFO, Jason Wheeler, who will start his job during November. He is former executive in the Google´s Finance division.

During the conference call, an analyst from Morgan Stanley, asked about Tesla´s long term strategy related to ondemand autoplatform. The idea of this, if Tesla is seeking also new cash generated income models through sharing economies, like Tesla´s own on-demand autoplatform. CEO Elon Musk did not close any comment on that.

Tesla (TSLA) shares closed down 2,5 percent to 208,35 dollars, but after hour trading the share was up nearly 9 percent.

Business Tech

Amundi to start trading in Euronext Paris in November

The European leading Asset Management company, Amundi Asset Management is to start its trading in Euronext Paris in November. The trading day is expected to be the 16th. The company announced today that the indicative price range would be 42-52,50 euros per share.

Societe Generale has said it will sell its 20 percent ownership (33,4 million shares) in Amundi in the IPO and Credit Agricole will reduce its ownership so that its stake will be between 74,6 – 77,6 percent. It also said it has agreed to sell 2 percent of Amundi shares to Agricultural Bank of China to expand their co-operation.

Amundi, which assets under management were 954 billion euros in June (51 percent fixed income, 13 percent equities and 17 percent treasury) said it is well positioned to benefit from the fundamentals of the assets management markets that favor sustainable growth.

Amundi provides diversified expertise across all major asset classes, offering full coverage of the investment management ecosystem.

The company is the biggest in Europe and the 8th biggest globally. The global AUM markets are estimated to be 61 trillion euros.

Business Finance

Nokia: Alcatel-Lucent merger is now closer – operating profit little down

Nokia (NOKIA), today published its third quarter interim report. According to the press release, the company says the merge with the French Alcatel-Lucent is now closer and they have received all the regulatory approvals to proceed with the public exchange offer. It is estimated to happen during the first quarter next year.

Nokia reported a turnover with 3036 million euros in July-September, declining 2 percent from the year earlier and increasing from the previous quarter. The operating profit was 475 million euros, up 4 percent from year earlier , but down 4 percent from the previous quarter. Earnings per share was 0,05 euros compared to 0,57 euros.

– I continue to believe that the acquisition of Alcatel-Lucent provides a very strong long-term value creation opportunity, the CEO Rajeev Suri said in the release.

The company also said it will raise the near term outlook. – The performance at Nokia Networks was the highlight of the quarter, and allowed us to raise our full-year outlook for that business, Suri said.

Nokia sold its HERE maps and location unit to German automakers Audi, BMW and Daimler in August 2015. According to Volkswagen (VOW:Xetra) press release yesterday, the company is expecting to close the deal during the next six months after the regulatory approvals. Audi´s share of the purchase price will be around 0,85 billion euros, according the release.

According to Nokia release today, HERE net sales amounted to 283 million euros in the third quarter 2015, compared to 236 million euros a year earlier. The operating profit was 20 million euros in the third quarter 2015, compared to an operating loss of 1 215 million euros in the third quarter 2014. On a non-IFRS basis and excluding the positive impact of stopping amortization and depreciation, HERE operating margin in the first nine months of 2015 was 10.1%, compared to 1.6% in the first nine months of 2014.

Nokia published also 7 billion euros program to optimize capital structure ahead of planned public exchange offer for Alcatel-Lucent securities. It also said that the 900 million euros synergies from the Alcatel-Lucent merge would be achieved in 2018, not in 2019 as earlier planned.

Business Tech