The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Equity market round-up

Retail demand

Retail demand in Europe for privatized state assets is looking good. The Italian public snapped up half of the €4.1 billion placement of Enel shares sold by the Italian government on July 4. Some 657,000 retail investors bought into the deal, far more than the number who bought shares in the Italian electricity company when the government sold a €7.6 billion tranche last August.

Public demand for shares in Gaz de France was also stronger than expected. Despite the political unpopularity of the French government's privatization programme, retail investors were enthusiastic, buying half of the €4 billion IPO. Bookrunners had expected to allocate just 30% of the deal to retail but the 3.3 million orders they received convinced them to increase the slice.

The month in numbers

223 million – the amount in dollars that Taiwanese brokerage Fubon Securities had to spend correcting a misplaced order for a client. The trader who placed the order was unfamiliar with new trading software.

0.47 – the percentage rise in the shares of Fubon Financial Holdings, the parent company of Fubon Securities, on the day the mistake was announced. Investors were pleased by the way the company handled the mistake, holding on to the stocks and not just selling immediately.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree