Return on equity (ROE) is easy to obtain for listed companies, but its usefulness as a standalone gauge of how attractively a company or its shares are valued is limited. The question is whether ROE can be applied simply to estimate relative valuation across firms or sectors. Recent analysis noted that in the TMT sector ROE and valuation multiples show little correlation, implying ROE alone often fails to explain market pricing. Differences in growth expectations, capital intensity, accounting treatments and sector dynamics can decouple profitability metrics from price multiples. The takeaway is that ROE is a helpful profitability indicator but should be used alongside other valuation measures and sector-specific context when assessing investment attractiveness. #ROE #valuation #TMT #equities #FiatNews

Economic calendar highlights for 23 June: German and EMU manufacturing PMIs for June (preliminary), and the Hungarian central bank meeting where the base rate is expected at 6%. Corporate results slated for the day include Carnival, FedEx and Cerebras. #Macro #Earnings #FiatNews

Former Federal Reserve chair Alan Greenspan has died at the age of 100. Greenspan led the Fed for many years and was widely regarded as an influential figure in economic policymaking during his tenure. #AlanGreenspan #FiatNews

Pharma deal: AbbVie agreed to buy Apogee Therapeutics for $10.9 billion in cash. The offer values Apogee at about a 50% premium to its last closing price; AbbVie says the move is intended to help it keep pace with growing competition in biotech. #ABBV #Mergers #FiatNews

US trade policy update: After the Supreme Court struck down an earlier tariff action, the Biden administration’s successor is preparing new tools to recreate the effects of last year’s measures. The administration says it aims to build a revised tariff framework. #US #tariffs #FiatNews

Germany moves to buy a 40% stake in tank maker KNDS as it prepares the company for an IPO. The step increases state influence over a key European defence player amid mixed investor sentiment following weaker stock performances in the sector. #KNDS #Germany #FiatNews

Political shock in the UK: Prime Minister Keir Starmer announced his resignation as head of government and leader of the Labour Party. Andy Burnham has declared his interest in leadership. Analysts note a potential fiscal risk if a new government seeks larger deficits. #UK #Labour #FiatNews

MakroMixér profile: Industrialist Wichterle — who scaled a local firm into a global group — says he’s betting on water, the US market and a Czech brand. He warns: "Without development you'll end up as a subcontractor." He also critiques why Czech industry still lags. #CzechIndustry #FiatNews

Podcast preview: Micron reports Q3’26 results amid an unusually tight memory supply environment and recent exponential price rises. Q3 figures are expected to be a key indicator of whether price momentum and industry margins will continue into coming quarters. #Micron #Semiconductors #FiatNews

Prague’s stock exchange had a positive session: PX gained ~0.8%. Winners included Doosan, several bank stocks and ČEZ; CSG registered losses on the day. Market breadth was tilted toward select industrial and energy names. #PX #CEZ #FiatNews

European equity trading was mixed: DAX rose to about +0.5% by midday, AEX similarly positive, FTSE100 gained ~0.7% while CAC40 fell ~0.3%. US trading was also split: the Dow posted a small gain while the Nasdaq was down roughly 1%. #DAX #FTSE #FiatNews

Bond yields ticked up as US markets caught up after Friday’s holiday while European markets remained calm. Sterling and gilts showed little reaction to UK political news. Euro/dollar moved to about 1.1430; the Czech koruna lost roughly 0.5% versus the dollar. #FX #CZK #FiatNews

Markets opened subdued after a weekend of mixed signals around US–Iran talks, Hormuz transit fees and potential strikes. Confusion, not panic, prevailed; oil was steady until a US temporary permit to sell Iranian crude hit markets — Brent fell about 3% to near $78/bl. #Oil #Brent #FiatNews

On 22 June 2026, UK Prime Minister Keir Starmer announced he is stepping down as head of government and leader of the Labour Party, a move that marks a significant political shake-up in Britain. The announcement ends Starmer’s tenure and initiates an internal leadership process within Labour. Andy Burnham has already declared his intention to seek the party leadership and is widely viewed as a likely successor. Starmer’s departure opens the path for that contest and will determine the party’s direction and the composition of the government going forward. The change comes amid ongoing political shifts in the UK and will trigger a formal leadership campaign within Labour. #UK #KeirStarmer #AndyBurnham #Labour #FiatNews

AbbVie on June 22, 2026 announced it will acquire biotechnology firm Apogee Therapeutics in an all-cash deal valued at $10.9 billion. The company said the move is intended to help AbbVie keep pace with rising competition in the pharmaceutical and biotech sectors. The offer represents a premium of nearly 50% to Apogee’s most recent closing share price. The transaction will be settled in cash and was presented as a strategic step to strengthen AbbVie’s position amid intensifying market competition. AbbVie described the acquisition as part of efforts to maintain competitiveness; further details on integration plans, regulatory timing and expected impact on AbbVie’s pipeline or financials were not provided in the notice. #AbbVie #FiatNews

Alan Greenspan, who served as chairman of the U.S. Federal Reserve and became one of the most influential architects of modern economic policy, died on Monday, June 22, 2026, at the age of 100. His death was announced in reports on the same day. Greenspan led the Fed from 1987 to 2006, a period that included the 1987 stock market crash, the long disinflation of the 1990s, and the early 2000s economic slowdown. Appointed by President Ronald Reagan, he served under multiple administrations and played a central role in shaping monetary policy and central banking practice in the U.S. Widely noted for his long tenure and the influence of his policy decisions, Greenspan’s legacy remains a subject of study and debate among economists and policymakers. #AlanGreenspan #Fed #FederalReserve #Economy #FiatNews

Investors are focused on Micron's upcoming earnings, which will test the strength of the AI-driven momentum in the memory segment. Results are expected to shed light on memory demand and help determine near-term sentiment for the semiconductor sector. #MU #AI #semiconductors #FiatNews

Political uncertainty grows in the UK after Prime Minister Keir Starmer resigned, prompting questions over leadership and policy direction. Investors are watching for impacts on fiscal plans, regulatory outlook and market confidence as parties respond. #UK #KeirStarmer #FiatNews

Markets remain unsettled as ongoing chaos around a US agreement with Iran continues to cloud investor sentiment. Uncertainty over the deal's terms and wider geopolitical implications is keeping trading cautious and risk priced unevenly across assets. #markets #Iran #US #FiatNews

President Donald Trump is moving to rebuild U.S. tariff barriers after the Supreme Court struck down his initial set of measures. The administration is preparing new legal and policy instruments intended to create a “repaired” tariff wall whose effects would closely resemble the import restrictions introduced in spring 2025. #Trump #tariffs #trade #US Officials say the refreshed package aims to preserve the protectionist outcomes of last year’s actions while using different authorities to withstand judicial review. The report notes that the renewed approach is expected to shift competitive advantages: some trading partners would benefit from the new design, while others could face worsened terms of access to the U.S. market. No detailed list of measures or affected countries was provided in the report. The development underscores the administration’s continued emphasis on trade policy as a tool for economic and industrial strategy, and signals further market and diplomatic implications once specific instruments are unveiled. #FiatNews