The Crypto Comeback
AmplifyME | Apr 03, 2022 07:05
MARKETS
Markets: WTI crude closed back below $100/bbl following the move from the US to release roughly a million barrels of oil a day from its reserves for six months beginning in May. Meanwhile, for equities and fixed income, it was a game of two halves as progress of a Ukraine ceasefire was met by data supporting the narrative for further rate rises prompting the yield curve to briefly invert for the first time since 2019.
Crypto: Bitcoin traded through the key level of $45,500 this week allowing the price to briefly trade north of $48,000 and erase all of its YTD losses. While Ether outperformed, up by more than 10% and finished higher for a second consecutive month. The recent uptick comes as Ethereum's latest upgrade, which is expected to lower the blockchain’s carbon footprint, is expected in the coming months.
DEALS PAY THE BILLS
M&A and Private Equity
Nielsen (NYSE:NLSN), a media measurement firm has been acquired by Elliot Investment Management and Brookfield Asset Management Inc (LON:0KEH) in a $16bn takeover.
NPD Group, a market info provider is in talks to acquire Information Resources for $5bn.
HP (NYSE:HPQ), the multi-national information technology company has agreed to buy remote gear maker Poly for $3.3bn, all-cash.
RBC (NYSE:RY), the Canadian bank is in talks to buy UK-based wealth manager, Brewin Dolphin (LON:BRW) for $2.1bn.
Venture Capital and IPO
Helium, a blockchain provider that powers decentralised wireless networks has raised $200m at a $1.2bn valuation led by a16z and Tiger Global.
Blockchain.com has raised a new Series D round valuing it at $14bn, it was led by Lightspeed Venture Partners.
Get The App
Mohalla Tech, an Indian startup is looking to raise a Series H at a $5bn led by Temasek. They created ShareChat and Moj.
Porsche, the German automaker could be valued at $100bn when it IPOs later this year. They have hired Goldmans, BofA and J.P. Morgan to advise on the listing.
CHART OF THE WEEK
When you realise nearly 40% of S&P 500 stock market returns since 2011 have been driven by stock BUYBACKS. Financial engineering at its finest. Nobody’s going to know…
MARKET MAKER ON THE GO
MEME OF THE WEEK
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.