Goldman's Oppenheimer: 'Growing Opportunities' in Europe
Peter Oppenheimer, chief global equity strategist at Goldman Sachs, says the prospect of looser monetary and fiscal policy in Europe presents "growing opportunities" for equity investors when added to the cheaper valuation of European stocks when compared to their US peers. He speaks on Bloomberg Television.
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Associated Press
an hour ago
- Associated Press
Grupo Financiero Galicia S.A. Announces Commencement of Secondary Offering of American Depositary Shares by HSBC Bank plc
BUENOS AIRES, June 10, 2025 (GLOBE NEWSWIRE) -- Grupo Financiero Galicia S.A. (Nasdaq: GGAL; Bolsas y Mercados Argentinos S.A./A3 Mercados S.A.: GGAL, the 'Company'), one of Argentina's largest financial services groups, announced today the launch of an underwritten secondary offering (the 'Offering') by HSBC Bank plc (the 'Selling Shareholder') of 11,721,449 American Depositary Shares ('ADSs') representing 117,214,490 Class B ordinary shares of the Company, par value Ps.1.00 per share ('Class B ordinary shares'). The ADSs are not authorized for public offering in Argentina by the Argentine National Securities Exchange Commision (Comisión Nacional de Valores – 'CNV') and they may not be offered or sold publicly under the Argentine Capital Markets Law No. 26,831, as amended and complemented. The documents related to the Offering have not been filed with, reviewed or authorized by the CNV, and therefore the CNV has not made any determination as to the truthfulness or completeness of those documents. All of the ADSs are being offered by the Selling Shareholder. The Selling Shareholder will receive all of the proceeds from the Offering. The Company is not selling any ADSs in the Offering and will not receive any proceeds from the Offering. Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are acting as the representatives of the underwriters of the Offering. The Offering is being made pursuant to an effective shelf registration statement on Form F-3 (including a prospectus) filed by the Company with the U.S. Securities and Exchange Commission ('SEC'). Before you invest, you should read the prospectus in the shelf registration statement and the related prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company and the Offering. The Offering will be made only by means of a prospectus and a related prospectus supplement relating to the Offering, copies of which may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, and from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526, or by email at [email protected]. A copy of the prospectus and the related prospectus supplement relating to the Offering may also be obtained free of charge by visiting EDGAR on the SEC's website at This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Cautionary Note Concerning Forward Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Exchange Act. Such forward-looking statements include, but are not limited to, those regarding the expected number of ADSs to be sold in the Offering . Forward-looking statements generally can be identified by the use of such words as 'may', 'will', 'expect', 'intend', 'estimate', 'anticipate', 'believe', 'continue' or other similar terminology, although not all forward-looking statements contain these identifying words. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from current expectations and beliefs, including, but not limited to, risks and uncertainties related to: the occurrence of any event, change or other circumstance that could impact the expected timing, completion or other terms of the Offering; the impact of general economic, industry or political conditions in the United States or internationally, as well as the other risk factors set forth under the caption Item 3.D. 'Risk Factors' in our most recent annual report on Form 20-F, and from time to time in the Company's other filings with the SEC. The information contained in this press release is as of the date indicated above. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements to reflect later events or circumstances or to reflect the occurrence of unanticipated events. About Grupo Financiero Galicia S.A.: Grupo Financiero Galicia S.A. (Nasdaq: GGAL; Bolsas y Mercados Argentinos S.A./A3 Mercados S.A.: GGAL) is the main financial services holding company in Argentina, which seeks to create long-term value through its companies, providing savings, credit, investment, insurance, advice and digital solutions opportunities to people, companies and organizations, prioritizing customer experience and sustainable development. With more than 110 years of experience, Grupo Financiero Galicia S.A. is a group of financial services companies in Argentina, integrated by Banco de Galicia y Buenos Aires S.A.U. (Banco Galicia), GGAL Holdings S.A. (Galicia Más Holdings), Tarjetas Regionales S.A. (Naranja X), Sudamericana Holdings S.A. (Galicia Seguros), Galicia Asset Management S.A.U. (Fondos Fima), IGAM LLC (Inviu), Galicia Securities S.A.U. (Galicia Securities), Agri Tech Investment LLC (Nera), Galicia Ventures LP and Galicia Investments LLC (collectively referred to as Galicia Ventures), and Galicia Warrants S.A. (Warrants). Investor Contact: Mr. Pablo Firvida Investor Relations Officer +5411 6329 4881 [email protected] THE TERMS AND CONDITIONS OF THE OFFERING WILL BE NOTIFIED IN ARGENTINA PURSUANT TO AN HECHO RELEVANTE, SOLELY FOR INFORMATIONAL PURPOSES, BUT SUCH NOTICE WILL NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ARGENTINA.
Yahoo
an hour ago
- Yahoo
France's Mistral launches Europe's first AI reasoning model
By Supantha Mukherjee and Kenrick Cai PARIS (Reuters) -Mistral on Tuesday launched Europe's first AI reasoning model, which uses logical thinking to create a response, as it tries to keep pace with American and Chinese rivals at the forefront of AI development. The French startup has attempted to differentiate itself by championing its European roots, winning the support of French President Emmanuel Macron, as well as making some of its models open source in contrast to the proprietary offerings of OpenAI or Alphabet's Google. Mistral is considered Europe's best shot at having a home-grown AI competitor, but has lagged behind in terms of market share and revenue. Reasoning models use chain-of-thought techniques - a process that generates answers with intermediate reasoning abilities when solving complex problems. They could also be a promising path forward in advancing AI's capabilities as the traditional approach of building ever-bigger large language models by adding more data and computing power begins to hit limitations. For Mistral, which was valued by venture capitalists at $6.2 billion, an industry shift away from "scaling up" could give it a window to catch up against better capitalized rivals. China's DeepSeek broke through as a viable competitor in January through its low-cost, open-sourced AI models, including one for reasoning. OpenAI was the first to launch its reasoning models last year, followed by Google a few months later. Meta, which also offers its models open-sourced, has not yet released a standalone reasoning model, though it said its latest top-shelf model has reasoning capabilities. Mistral is launching an open-sourced Magistral Small model and a more powerful version called Magistral Medium for business customers. "The best human thinking isn't linear - it weaves through logic, insight, uncertainty, and discovery. Reasoning language models have enabled us to augment and delegate complex thinking and deep understanding to AI," Mistral said. American companies have mostly kept their most advanced models proprietary, though a handful, such as Meta, has released open-source models. In contrast, Chinese firms ranging from DeepSeek to Alibaba have taken the open-source path to demonstrate their technological capabilities. Mistral Small is available for download on Hugging Face's platform and can reason in languages including English, French, Spanish, Arabic and simplified Chinese.
Yahoo
an hour ago
- Yahoo
The foreign markets soaring to record highs in 2025
Global markets have been outpacing US stocks (^DJI, ^IXIC, ^GSPC) and growing at massive rates year-to-date in 2025. Yahoo Finance markets and data editor Jared Blikre — who also hosts the Stocks In Translation podcast — tracks a handful of foreign market ETFs for various countries, including Greece, Japan, Italy, Poland, and Israel. Twice a week, Stocks In Translation cuts through the market mayhem, noisy numbers and hyperbole to give you the information you need to make the right trade for your portfolio. You can find more episodes here, or watch on your favorite streaming service. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. The itinerary for global markets this year had been busy, but the S&P 500 has barely left the gate up a modest 2%. Meanwhile, several single-stock ETFs have already gone long haul, uh chalking up 30 and even 40 plus percent gains. And today, we're going to be we're going to see who's been filling up their passports with the juiciest returns. I'm Jared Blikre, host of Stocks in Translation. So let's take a look at the country leaderboard. Greece and Poland are at the top of our list. Each of these European countries are clocking in returns in the mid 40s. Austria and Spain are right behind at 40% each, with Italy in the mid 30s. Continuing down the list, Germany is right behind Italy with a 33% surge. Meanwhile, the UAE, Israel, and Japan are each posting respectable low double-digit gains this year. And in case you're wondering, these ETFs are all priced in US dollars, so these gains are also benefiting from the broad-based weakness in the US dollar this year. Another note, this list is not meant to be exhausted. Now, let's flip through some of the charts here. First, the record relay, as I'm calling it. Germany tagged a fresh record high last Thursday, followed Friday by Israel. And that's after Japan notched its own record earlier in the week. It's almost like global momentum is passing the baton. Now for the Mediterranean makeover, check out Greece. Like a Phoenix rising from the from the global financial crisis, as ashes, excuse me, Athens is back on investors' radar, flaunting the highest price in nearly a decade, though still down 25% from its 20 2014 high. And say hello to the periphery club. Med is back, with Spain and Italy joining the Greek resurgence. All three of these indices are up five 50% over the last two years. Shifting north, Poland and Austria are leading a Central European surge, with Poland up over 50% in the last two years and Austria just short of that. And don't forget about the United Arab Emirates to the east, just a hair from a fresh decade long high, as it's returning 25% plus over two years. Finally, let's take a look and zoom in on Austria's long awaited breakout, nearly two decades in the making. After the roller coaster ride along the global financial crisis, the country traded sideways for 17 years, finally breaking out of a trading range only a month ago. Bottom line for investors, yes, these returns are impressive, but is US exceptionalism really a thing of the past? Have the volatile tariff experiments, have those upped the uncertainty vibe too high? Or did the post liberation day market plunge clear the deck for the next US-led surge? If so, the last month of consolidation near near record highs in the S&P, that might just look like a layover by year end. And if not, we could just see some more sideways action that frustrates both the bulls and the bears. Only time is going to tell, but you cannot deny the bullish price action breaking out around the world this year. And tune into Stocks and Translation for more market decoding deep dives, new episodes on Tuesdays and Thursdays on Yahoo Finance's website, or wherever you find your podcast. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
