In today’s briefing:
- Crypto Moves #31 – Do Not Fear Mt. Gox Repayments
- EQD | The NIFTY Swung Big But the Rally Could Continue For +2 Weeks
- Unipol Gruppo/UnipolSai: Squeeze-Out and Spread
- The Allstate Corporation: A Story Of Expansion through National General Integration! – Major Drivers
Crypto Moves #31 – Do Not Fear Mt. Gox Repayments
- It should come as no surprise that 2022 was rife with contagion in the crypto industry.
- Numerous crypto companies went bankrupt, many due to fraud.
- Now, the majority of these bankruptcy cases are nearing their conclusion, and some have already been completed, allowing creditors – primarily clients with assets stuck in these firms – to receive the remaining assets.
EQD | The NIFTY Swung Big But the Rally Could Continue For +2 Weeks
- The NIFTY Index has been swinging wildly as of lately, but the odds look good for a continuation of the rally at the moment.
- The index is in a pattern where it can rally for 1-2 more weeks.
- Wait for prices in the 23500/23700 resistance area before considering a SHORT trade.
Unipol Gruppo/UnipolSai: Squeeze-Out and Spread
- Unipol Gruppo S.p.A (UNI IM) has reached 95% of the share capital of UnipolSai SpA (US IM), therefore the conditions for the squeeze-out are met.
- The dividend-adjusted offer price is €2.535. Unipol has three months from 26 April to implement the squeeze-out. The holding discount, as expected, has closed.
- Spread to cash offer is 0.51%/3.85% (gross, annualized assuming settlement of squeeze-out by 26 July). The share alternative is now trading at a premium.
The Allstate Corporation: A Story Of Expansion through National General Integration! – Major Drivers
- Allstate Corporation reported a strong financial performance in the first quarter of 2023, indicating a significant improvement in net income which reached $1.2 billion.
- This results from effective execution of the auto insurance profit improvement plan, maintaining attractive margins in homeowners’ insurance, and experiencing lower catastrophe losses.
- Net investment income also saw a notable increase of almost 33%, mainly due to repositioning into longer duration, higher fixed income yields, and improved performance-based valuations.
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