Argonautica

Professional investors can review published thought leadership and market updates from the Argonaut Investment Team.

2 posts found for October 2012

‘Banks: Europe’s highest growth sector?’

As we noted in a blog earlier this week European analysts currently see the Banks sector as delivering the strongest growth in corporate earnings in 2013. This follows a fall in bank profits of nearly 19% this year. Banks are expected to deliver 28% profit growth in 2013 compared with the forecast of 12% growth for market earnings1. Given that this time last year the same analysts were forecasting 21% growth in bank profits for 2012 (which has since been proven to be 39% too high) it would be easy…

‘EADS/BAE - an accidental victory for shareholders’

EADS and BAE management declared war on their shareholders with their proposed merger. With only a few shareholders having fired warning shots, Enders and  King today surrendered in no man’s land having had no battle-plan to negotiate  the minefield of national security interests that lay between them and their quarry. Today’s decision to terminate merger talks between EADS and BAE is a triumph for common sense and shareholder value. Having sunk almost €30bn into new Airbus plane projects that are…