Results for “Bank of America Merrill Lynch”

estimates or price targets) without first obtaining expressed permission from an authorized officer of BofA Merrill Lynch.

Table 10: Statistics on implied, realised, skew and term structure for 3-month and 12-month vols (emerging markets) 10-day realised 12M - 3M term vol spread EEM US IBOV RDXUSD TOP40 EEM US IBOV RDXUSD TOP40 Current Level 10.4% 13.2% 18.5% 11.0% 24% 18% 11% 2.3% %atile (2yr) 4.2...

…y to grow monetization, 3) lack of historical or near-term GAAP profitability, and 4) delayed on-demand service launch BankofAmerica <2” 56 Internet/e-Commerce | 06 April 2017 Merrill Lynch HOUSE_OVERSIGHT_014942

From: Ens, Amanda [i Sent: 11/15/2016 2:44:06 PM To: jeffrey E. [[email protected]]; Richard Kahn [inn Subject: SPX put contingent on higher rates Attachments: image001.jpg; image002.jpg; image003.jpg; image005.png Importance: — High Navigating post-Trump volatility ° We...

4) Jobs creation: the entry of foreign companies into retailing in Saudi Arabia will not only create job opportunities but will also ensure quality in them, improving standards of living and life styles. Al Hokair: Eased restrictions on foreign investors: perception vs reality T...

EMEA - Utilities Coverage Cluster BofA Merrill Lynch Investment rating Company ticker Bloomberg symbol Analyst BUY EDF ECIFF EDF FP Peter Bisztyga EDP EDPFY EDPFY US Harry Wyburd EDP ELCPF EDP PL Harry Wyburd EDP Renovaveis EDRVF EDPR PL Pinaki Das Enel ESOCF ENEL IM Harry Wyb...

We estimate that a 20% decline in electronic sales would result in a 5% direct decline in gross profit. However, this ignores the other negative effects of other product categories due to a weaker footfall trend. More entertainment in KSA, less attraction for Jarir’s stores In...

…the market already we think that the pace of the rotation has to moderate. (In-line with that we recently downgraded of banks and miners). Reversal refers to the ECB. Our economists are not yet convinced that the ECB will start to unwind loose policy 2017 but the probability is...

Saudi Arabia approves 100% foreign ownership rules e Saudi Arabia’s cabinet has approved rules governing foreign ownership of retail and wholesale businesses in the Kingdom. The regulations, which were first discussed last year, allow foreign investors to own 100% of retail and...

costs. Hospitals would be under pressure to be more flexible on prices to avoid any pressure should lower-cost packages impact their volumes. Vision implies a long process To us, the government's vision implies a two stage process over a long time-frame: e Inthe short-term: imp...

Bloomberg consensus estimates) vs. STC at 17% (consensus). It is thus arguably crucial for Zain and Mobily to be allowed to increase market share in the mobile arena. We thus believe the regulator (CITC) regulator will have to consider further steps to afford market share to the...

…housing unit which is more than double the typical 20-25% in more affordable areas globally. e 2) Affordability issue: banks are reluctant to provide mortgages to workers from the private sector. e 3) Limited financing: the Real Estate Development Fund (REDF) which used to prov...

…and 3% respectively. At this stage it is worth noting that this is a modest acceleration in both growth and inflation. BankofAmerica <2” 6 European Equity Strategy | 01 December 2016 Merrill Lynch HOUSE_OVERSIGHT_014465

Health: Not Tremendously Prescriptive Vision 2030 a start but Needs Transparent Proposals The Saudi government’s Vision 2030 document calls for an improvement in healthcare in Saudi Arabia. The private healthcare sector has some role to play; the National Transformation Plan (N...

…al Equity & Liabilities 34,195 28,621 26,807 26,220 25,334 * For full definitions of sQnethod™ measures, see page 11. BankofAmerica <2” 2 Hess Corp. | 11 April 2017 Merrill Lynch HOUSE_OVERSIGHT_014874