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S&P Global Inc. (NYSE: SPGI) is a leading provider of essential financial intelligence, empowering governments, businesses, and individuals with the right data, expertise, and connected technology to make decisions confidently. As the largest of the Big Three credit rating agencies, S&P Global provides a wide array of services including credit ratings, benchmarks, analytics, and workflow solutions that cater to the global capital, commodity, and automotive markets.
S&P Global Ratings is renowned for its financial research and analysis on stocks, bonds, and commodities. This segment remains the largest credit rating agency worldwide and is pivotal to the company’s profitability. Another significant segment, Market Intelligence, offers desktop, data, and advisory solutions, primarily targeting the financial services industry with platforms like Capital IQ Pro. This division was recently bolstered by the acquisition of Visible Alpha, enhancing its investment research and analytics capabilities.
In addition to these core areas, S&P Global encompasses Commodity Insights (including Platts), Mobility (with Carfax), and Indices (featuring the S&P 500® and Dow Jones Industrial Average®). The company's commitment to innovation and market leadership is further demonstrated through its strategic partnerships and acquisitions, such as the integration with CarNow to enhance automotive data analytics and customer engagement.
Recent news highlights include the integration of DigitalOcean Holdings Inc. into the S&P SmallCap 600, the enhanced oil sands production outlook by S&P Global Commodity Insights, and the strategic partnership between automotiveMastermind and CarNow. Moreover, the company's surveys and reports, like the one conducted with AARP on adult caregiving, showcase its role in addressing contemporary societal challenges.
Visit S&P Global for more information on their offerings and insights.
S&P Dow Jones Indices (S&P DJI), the world's leading index provider, has completed its eleventh annual review of adherence to the IOSCO Principles for Financial Benchmarks. The 2024 review, conducted by an independent global accounting firm, covered key aspects of S&P DJI's index governance regime, control framework, and operations. It focused on the separation of index governance and commercial activities, as well as the management and oversight of policies and procedures.
CEO Dan Draper emphasized the importance of this annual review in maintaining a robust control framework that protects the independence of S&P DJI's index governance process and market-leading benchmarks. The company's Management Statement of Adherence and the independent review results are available on S&P DJI's Governance website.
S&P Global Market Intelligence's Q2 2024 Global M&A and Equity Offerings Report reveals a 11.7% increase in the total value of global M&A transactions to $1.221 trillion in H1 2024 compared to H1 2023. However, the number of deals decreased by 12.9% to 19,415. The report highlights that while M&A activity hasn't fully recovered from the 2022 slowdown, dealmakers are pursuing large transactions. Europe saw a significant boost in M&A announcements, with values up 65.4% quarter-over-quarter and 25.4% year-over-year to $182.87 billion in Q2. Global IPOs also declined, with 616 transactions in H1 2024 compared to 674 in H1 2023.
SolarWinds Corp. (NYSE: SWI) is set to replace SunPower Corp. (NASD: SPWR) in the S&P SmallCap 600 index, effective prior to the opening of trading on Friday, August 9, 2024. This change comes as a result of SunPower filing for Chapter 11 bankruptcy, making it ineligible for continued inclusion in the index.
The transition will see SolarWinds, classified under the Information Technology sector, added to the S&P SmallCap 600, while SunPower, previously listed under the Industrials sector, will be removed. This adjustment reflects the dynamic nature of the financial markets and the ongoing evaluation of companies' eligibility for inclusion in major indices.
S&P Global (NYSE: SPGI) and Accenture (NYSE: ACN) have formed a strategic collaboration to fuel generative AI innovation in the financial services industry. Key initiatives include:
1. A comprehensive gen AI learning program for S&P Global's 35,000 employees, launching in August, leveraging Accenture LearnVantage services.
2. Enhancing AI development and benchmarking solutions by combining Accenture's Foundation Model Services with S&P AI Benchmarks by Kensho.
3. Providing customers access to Accenture's gen AI 'switchboard' for model selection and customization, along with S&P AI Benchmarks for performance evaluation.
This collaboration aims to empower employees and customers to adopt, build, and innovate with gen AI, transforming daily work and customer interactions in the financial services sector.
S&P Global (NYSE: SPGI) has released its second quarter 2024 financial results. The company's earnings release and supplemental materials are now available on their investor relations website. S&P Global's senior management will be hosting a conference call on July 30, 2024, at 8:30 a.m. EDT to review the Q2 2024 earnings results. Investors and interested parties can access additional information presented during the call on the company's Investor Relations Website. A live webcast of the conference call will be available, with a replay option accessible afterwards at the same URL.
S&P Global Mobility projects new light vehicle sales in July 2024 to reach 1.32 million units, up 1% year-over-year. This translates to an estimated sales pace of 16.4 million units (SAAR), the highest since May 2021. The boost is attributed to delayed purchases from June's dealer management software cyberattack.
Despite one less selling day, July sales are expected to match June's. The two-month average SAAR for June-July aligns with April-May levels, indicating mild progression as rising inventory and incentives alleviate affordability concerns. However, mixed signals persist for H2 2024.
Inventory continues to rise, up 1.8% from May and 57% from last June. Battery-electric vehicle (BEV) share is expected to reach 7.8% in July, with further growth anticipated due to new model releases.
S&P Global's new report reveals that the United States ranks second-to-last globally in development time for new critical mineral mines, taking an average of 29 years from discovery to production. This lengthy process is surpassed only by Zambia at 34 years. The report highlights a significant challenge for the energy transition, as the U.S. has substantial resources of critical minerals like copper and lithium, yet receives less mining exploration investment compared to peers like Australia and Canada.
Key findings include:
- U.S. copper reserves and resources (275+ million metric tons) rival those of Canada and Australia combined
- U.S. lithium endowment (43+ million tons) is more than double Australia's, the current global leader in production
- Mining exploration budgets in the U.S. are 57% lower than Australia and 81% lower than Canada over the past 15 years
- Only three new mines have started production in the U.S. since 2002, while 10 projects remain in development, some for decades
S&P Global Commodity Insights has launched the world's first independent daily spot market solar photovoltaic (PV) panel price assessments for US, Europe, and Asia. The new Platts Solar Module prices include six individual assessments and a Global Solar Module Marker, providing a global perspective on solar panel prices. These assessments reflect the value of bifacial solar modules for commercial, industrial, and utility-scale projects.
The launch comes as solar PV is expected to be the most installed energy source in the coming decades, with S&P Global forecasting over 4 TWdc of new installations before 2030. The assessments aim to bring transparency to the increasingly commoditized solar module market, addressing the industry's need for independent pricing information.
The GEP Global Supply Chain Volatility Index remained in positive territory for the second consecutive month in June 2024, highlighting increased global supply chain activity. The index stood at 0.13, slightly down from May's 0.21. Asian manufacturing, particularly in China, Taiwan, Vietnam, and India, saw significant growth, driving up input demand. Conversely, North American suppliers experienced a slight decline in demand, indicating a tightening economy. European manufacturing activity remains subdued but has improved compared to late 2023. Global transportation costs reached a 20-month high, reflecting increased shipping and container rates. Labor shortages continue to challenge capacity expansion. The next index update will be released on August 12, 2024.
S&P Global Market Intelligence has released its first-ever ranking of Europe’s top-performing banks, identifying OTP Bank of Hungary as the leader for 2023. The ranking considered seven financial metrics like return on average equity, net interest margin, and cost-to-income ratio. OTP Bank's strong performance was driven by high lending margins amidst elevated interest rates. Poland's PKO Bank Polski and Bank Polska Opieki followed in second and third place, respectively. French banks BNP Paribas, Crédit Agricole, and Société Générale were at the bottom, hindered by structural issues and regulated savings accounts.
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