Davy's Debt & Specialist Finance team is the
largest in Ireland. We act for both borrowers and investors in the
global debt markets.
We are active traders in all sovereign bonds and global credits, and are primary dealers of Irish government bonds.
The job that ARYZTA has done to date and what it continues to do in Europe is little appreciated. Over the five-year period since the creation of ARYZTA, Food Europe revenue increased by 19.5% and operating profits by 53% (margins +300bps). Operational...
Improving real estate and economic fundamentals, along with legislation introduced in April, have paved the way for the launch of Ireland’s Real Estate Investment Trust (REIT) sector. To date, there have been two REIT listings (Green REIT, followed by Hibernia...
Strong growth in Chinese recycled containerboard capacity in 2014 could result in increased demand for European OCC. This is likely to drive European OCC prices higher, which could support further increases in recycled containerboard prices and ultimately...
A recent survey, commissioned by Davy, confirms our view that the express and logistics sector’s volume growth is improving and that best-of-breed operators will excel. We view three themes in particular as important for 2014: excess cash/shareholder...
Transport stocks are early cyclicals and have performed well since 2012. We are probably at the mid-point in the cycle at present with most legacy airlines focused on delivering their 2015 restructuring programmes. Returning to capacity growth means that...
Investor enthusiasm for all things Irish, coupled with the tangible progress made by the bank in delivering on its strategic objectives, has propelled Bank of Ireland (BKIR) shares to a premium valuation – 1.6x forecast end-2014 TNAV and 12.1 times the first...
Global markets more than recovered their January losses in February, pushed upwards by helpful central bank commentary, decent macro data and a strong earnings season. The MSCI world developed index added 4.0% to go 0.6% ahead for 2014 to date. Emerging...
The February issue of Davy Economics Monthly looks at three issues: the latest Central Bank data on Irish mortgage arrears, the demise of the Bank of England’s forward guidance policy and the attempts by the French government to address structural...
Global equity markets (MSCI world developed index) fell 3.3% in January after successive gains during the previous four months. Reasons for the retreat to less riskier assets veered between a slowdown in China, emerging market concerns and the Fed further...
The third issue of Davy Economics Monthly examines three topics: the likelihood that Irish banks will be over-provisioned on their mortgage books, the return of the Irish construction sector and evidence that capacity pressures are growing in the UK.
March 7 2014
March 7 2014
March 7 2014
March 7 2014
March 7 2014
March 7 2014
March 7 2014
