AIG (AIG) Doubles Investment in the U.K. as Good Yield Gets Hard to Find
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Following last Friday's announcement of a massive Treasury sale and company buyback, American International Group (NYSE: AIG) is riding market sentiment higher again Monday with word it might be getting bullish on Europe.
According to data compiled by Bloomberg, AIG is said to be doubling-up investment in the U.K., while simultaneously scaling-back investments in Germany and France. For the three months ended June 30, 2012, AIG's aggregate credit risk in the U.K. was $3.42 billion, from $1.39 billion in the prior quarter. German risk fell 16 percent to $1.38 billion and French risk fell 11 percent to $1.01 billion.
Recently, traders might recognize that yields on French and German debt turned negative with investors looking to shield their funds from the like of Spain, Greece. and others, which continued to pose as much riskier investments. The U.K. is the largest economy in Europe which doesn't participate in the euro coalition.
The U.S. remains AIG's highest risk, with total exposure of 23 percent. Financials represented 90 percent of total equity.
Shares of AIG are up 2.7 percent Monday afternoon.
According to data compiled by Bloomberg, AIG is said to be doubling-up investment in the U.K., while simultaneously scaling-back investments in Germany and France. For the three months ended June 30, 2012, AIG's aggregate credit risk in the U.K. was $3.42 billion, from $1.39 billion in the prior quarter. German risk fell 16 percent to $1.38 billion and French risk fell 11 percent to $1.01 billion.
Recently, traders might recognize that yields on French and German debt turned negative with investors looking to shield their funds from the like of Spain, Greece. and others, which continued to pose as much riskier investments. The U.K. is the largest economy in Europe which doesn't participate in the euro coalition.
The U.S. remains AIG's highest risk, with total exposure of 23 percent. Financials represented 90 percent of total equity.
Shares of AIG are up 2.7 percent Monday afternoon.
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