Governance

The California Public Employees’ Retirement System’s (CalPERS) climate risk reporting shareowner resolution passed today at the annual shareowner meeting of Exxon Mobil.

BNP Paribas announced a settlement with the New York State Department of Financial Services (DFS) relating to its investigations into past misconduct in BNP Paribas’ foreign exchange business.

According to David Lafferty, Chief strategist, Natixis Global Asset Management, the French election represents a win for EU continuity and integration. As Le Pen risk passes, the next hurdle for the EU project is likely to be the Italian banks which remain mired in non-performing loans and poor capital positions with little political stability to address the problem...

The French election result confirms our view that markets until recently had overstated European political risks. Italian political risk and the country’s fragile banking system could move back into focus soon, however, particularly if the likelihood of early elections in late 2017 rises.

According to Lukas Daalder, CIO Robeco Investment Solutions & Léon Cornelissen, Chief Economist at RobecoHaving said that, we should not overstate the impact: the rate hike that the US Federal Reserve administered yesterday has been the more dominant factor in financial markets, lifting both bonds and stocks.