Thomson Reuters Investment Banking Scorecard

Weekly headlines.

Europe Lagging In Recovery - Lowest Level Of Activity In 10 Years

So far this year, M&A activity in Europe has reached $US172bn - down 25% when compared to the same period last year. All other regions are up in activity - US 13%, Africa 138%, Middle East 165%. Also, this is the slowest start to a year in a decade.

Global Cross-Border M&A Up 86%

Global cross-border M&A is up 86% year-to-date compared to last year. In Europe, the UK is the most targeted nation with a fourth of the overall activity.

MBS At Highest Year-To-Date Level Since 2007

With the recent $2.1bn offering of floating-rate mortgage backed notes by Fosse Master Issuer Plc, an affiliate of Alliance & Leicester, global year-to-date issuance of mortgage-backed securities has reached $248bn. This is the highest year-to-date total since 2007 when issuance reached $695bn. Year-to-date, offerings are up nearly two-fold from 2007 and 90% from 2008.

Oil & Gas M&A Accounts For 25% Of US Market

Bolstered by the announced acquisition of US oil & gas producer East Resources by Netherlands-based Royal Dutch Shell, M&A activity in the oil & gas sub-sector accounts for 15% of the global M&A volume, and nearly 25% of the US-target mergers.

Oil & gas M&A activity in 2010 is at the highest year-to-date level on record, both in the US and globally.

US Domestic M&A At Lowest Level Since 2003

Although two of the top three M&A transactions for the week were domestic US deals, activity is at its lowest year-to-date level since 2003.

Source - Thomson Reuters

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