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Economics, Economics

Economics - BoE: balancing inflation risks and Brexit uncertainty
Applegreen plc, Food Retail, PT GBp 600 (no change)

Building up from a strong core
Nestlé SA, Food Manufacturing, PT CHF 82.00 (no change)

Some positive signs in Q1
Koenig & Bauer AG, Capital Goods & Industrial Engineering, PT EUR 89.00 (no change)

Q1 results to answer receivables question
X-FAB Silicon Foundries SE, Technology Hardware, PT EUR 9.75 (11.40)

Still attractive despite the squeeze
Teck Resources Ltd, Metals & Mining, PT CAD 45.00 (42.00)

Another solid quarter but coal ops in focus
AA plc, Business Services, PT GBp 65 (no change)

Pricing, valuation out of step; reiterate Sell
Just Eat plc, Media, PT GBp 840 (850)

A seat at the table
Temenos Group AG, Software & IT Services, PT CHF 110.00

Temenos walks away from Fidessa deal
Melexis NV, Technology Hardware, PT EUR 97.50

Relaxed conference call, long-term outlook unchanged
Specialty Pharmaceuticals, Specialty Pharmaceuticals

Healthcare Hebdomadal - To back or not to back the JAK
Economics, Economics

Firm growth, protectionist risk

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        Twitter
    @Berenberg_Econ - 20.04.2018 15:21
                             SOUTHERN EUROPE: REFORMS PAY OFF #macro #SouthernEurope #reforms #economics  https://t.co/aTf7QlGlli

@Berenberg_Econ - 20.04.2018 09:31
                             BOE: MAY HIKE STILL LIKELY, BUT CARNEY COMMENTS HIGHLIGHT UNCERTAINTY #BOE #Carney #UK #interestrates https://t.co/hawlpV2Y5r

@Berenberg_Econ - 19.04.2018 09:11
                             BREXIT UPDATE: LORDS' VOTE RAISES THE STAKES IN THE EU CUSTOMS DEBATE #Brexit #UK #HouseofLords #EUWithdrawalBill https://t.co/767LsJLxdu

@Berenberg_Econ - 19.04.2018 07:49
                             MACRON IN BERLIN - PROGRESS FOR EUROPE? #Macron #Europe #Berlin https://t.co/kweE3M4G0G

@Berenberg_Econ - 18.04.2018 09:19
                             ECONOMIC OUTLOOK: SERIOUS SLOWDOWN OR SOLID GROWTH #macro #economics #EconomicGrowth https://t.co/mvGnEB8cHa

@Berenberg_Econ - 18.04.2018 08:57
                             ITALY'S COALITION PUZZLE: MISSION IMPOSSIBLE? #Italy #italyelections2018 https://t.co/NXiMdgcVd5

@Berenberg_Econ - 17.04.2018 09:32
                             UK: REAL WAGE SQUEEZE OVER, RATE HIKE IN MAY #macro #economics #UK #wages https://t.co/X0OG66iUIs

@Berenberg_Econ - 13.04.2018 10:06
                             TRADE WARS: BREXIT-LITE FOR EVERYBODY? #macro #TradeWars  https://t.co/sO2xsv7fBf

@Berenberg_Econ - 13.04.2018 06:42
                             EUROZONE GROWTH: TRADE TENSIONS HURT - A LITTLE #macro #economics #tradewar #eurozone https://t.co/w1SGINuUvd

@Berenberg_Econ - 12.04.2018 16:00
                             ECB CONCERNED ABOUT INCREASING RISK OF TRADE CONFLICTS #macro #economics #TradeWar https://t.co/Yf1oPkqGyt

@Berenberg_Econ - 11.04.2018 13:32
                             UK: FEBRUARY INDUSTRIAL OUTPUT POINTS TO STABLE GAINS IN Q1 #uk #macro #economics #industrialproduction https://t.co/jYYpaCO7HM

@Berenberg_Econ - 11.04.2018 07:54
                             ECONOMIC FUNDAMENTALS REMAIN HEALTHY DESPITE HEIGHTENED RISKS #macro #economics #tradewar https://t.co/Go4bufGKSr

@Berenberg_Econ - 10.04.2018 14:01
                             ASSESSING THE TRADE WAR RISK: THE EUROPEAN ANGLE #TRADEWARS #ECONOMICS #MACRO https://t.co/afseFhJKTD

@Berenberg_Econ - 06.04.2018 07:00
                             WEAK STERLING SHOWS MARKETS STILL FEAR A HARD BREXIT  https://t.co/3UrhWcsArT

@Berenberg_Econ - 04.04.2018 12:43
                             EUROZONE UNDERLYING INFLATION PICK-UP IS TAKING ITS TIME #macro #ecb  https://t.co/Haj6ELKYkd

@Berenberg_Econ - 27.03.2018 11:07
                             TRADE TROUBLE HITS EUROZONE CONFIDENCE: A RISK TO GROWTH?  https://t.co/rCdzpwqgdG

@Berenberg_Econ - 22.03.2018 12:49
                             UK: BOE LETS THE HAWKS OUT, SETTING THE STAGE FOR A MAY HIKE #boe #uk #macro #economics #ukeconomy https://t.co/01xpBeQQof

@Berenberg_Econ - 22.03.2018 11:07
                             GERMAN IFO SLIPS ON TRADE TENSIONS #sentiment #macro #eurozone https://t.co/ovwlGm0WqM

@Berenberg_Econ - 22.03.2018 07:53
                             BOE OUTLOOK: FOLLOWING SIGNALS IN THE LABOUR MARKET #BOE #MACRO #ECONOMICS #MONETARYPOLICY…  https://t.co/pNVs77fhSh https://t.co/nSLeEfSQc4

@Berenberg_Econ - 20.03.2018 08:57
                             EU SUMMIT PREVIEW: EUROZONE REFORM TALKS, NO DECISIONS YET #EUCO #bankingunion #esm #emf #ifc https://t.co/iZCHksMH03

@Berenberg_Econ - 19.03.2018 17:01
                             BREXIT UPDATE: TOUGH QUESTIONS REMAIN UNANSWERED DESPITE AGREEMENT ON TRANSITION #brexit #uk #politics #economics https://t.co/8u3VmZNoDC

@Berenberg_Econ - 16.03.2018 09:30
                             POLITICAL UPDATE: WHAT NEXT FOR ITALY? #italyelections2018 #Italy https://t.co/inZRwUdh2A

@Berenberg_Econ - 09.03.2018 08:53
                             TRADE TENSIONS; WHAT IS AT STAKE - CHART OF THE WEEK #TRADEWAR #TRADEWARS #ECONOMICS #TRUMP…  https://t.co/ggSL9vy3Z9 https://t.co/Ei9PVXYP6m

@Berenberg_Econ - 08.03.2018 15:04
                             ECB UNFAZED BY NEW UNCERTAINTIES #qe  https://t.co/aPKItKNtAt

@Berenberg_Econ - 08.03.2018 08:41
                             BREXIT UPDATE: NO CAKE OR CHERRIES IN THE EU'S OFFER TO BRITAIN #brexit #ukpolitcs #uk #economics https://t.co/zbwj9MHLrj

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Founded in 1590 – Berenberg is the second-oldest bank in the world

Private bank Berenberg traces its roots back to the year 1590. It is thus not only one of the oldest banks in the world, it has also seen a highly dynamic development in the past few years.

Cornelius Berenberg – A mischievous character with vision

Cornelius Berenberg started to work in his father’s trading company at the tender age of 16, and soon proved to be a visionary businessman. Thanks to his ideas and energy, within a few years the Berenberg company had become one of the highest-earning in the City of Hamburg. In an interesting note, he was the first in our ancestral line to be immortalized in oil.

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Keeping the Berenberg name

After 175 years the fifth generation of the Berenberg was the first to lack a male heir. Only the daughter Elisabeth can ensure that the business stays in the family, by marrying the accomplished businessman Johann Hinrich Gossler. Fortunately, he is someone who appreciates tradition.

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A man for trying times

Another Berenberg who stood by Hamburg: Cornelius Berenberg, son of John B., helped soldiers at the front with “charitable gifts.” He played a major part in getting Hamburg back onto a growth course after the war. Cornelius also had political courage, supporting Jewish businessmen and helping some to flee.

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The Berenbergs help Hamburg get ahead

In 1882 Hamburg started to surge ahead in what would be an exceptional boom period, as the city joined the German customs union and got a duty-free port. This became the engine of the city’s economic development, thanks to John Berenberg-Gossler, who now wasn’t just a “von” but was also ennobled as a baron.

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Golf

Berenberg’s brand ambassadors can look back on a successful performance. Taken together, the team of seven has so far won 22 majors and 29 senior majors. The most recent successes in 2017: Bernhard Langer won his tenth major at the British Senior Open and Branden Grace, at the Open Championships, shot the lowest round ever played at a major.
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We have been made aware that certain members of the public have been approached by fraudsters and scammers purporting to work for Berenberg, to try to convince people to make bogus Investments (Clone firm). Under false pretences, these criminals obtain personal data for opening an account and request that investors transfer money in advance to secure their purchase. Please note that Berenberg does not deal with people solely via email, telephone or social media. Thus, please note that Berenberg can only be reached through the contact data that are stored on this homepage. In the light of recent developments we would like to point out that there is no relation between Berenberg and “berenberg-loyal“. If in doubt, please contact ComplianceAML@berenberg.de.

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Representative Office Zurich

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