Euromoney Institutional Investor - Trading trends continue
Euromoney’s AGM update indicates that trading after Q1 remains on track for the full year, with underlying revenue flat year-on-year. Within this, the Pricing, Data and Market Intelligence segments are ahead (a 9% increase in Pricing subscriptions is particularly encouraging), while trading in the Asset Management segment continues to be soft. The net cash balance gives plenty of scope for acquisitions, regardless of the outcome of the Asset Management strategic review. The shares are trading at a wide discount to peers, around 33%, which we regard as unjustified on fundamentals.Euromoney Institutional Investors is an international business information group. Co.'s segments are: Asset management, which provides independent research; runs networks and conferences; and provides news and data that are critical for the industry; Pricing, data & market Intelligence, which provides prices, data, analysis and events that are critical for business processes and workflow across a number of industries, such as metals and mining industries, telecoms, insurance, airline and banking; Banking & finance, which provides market intelligence, news, training and conferences; and Commodity events, which consists of conferences in the metals, agriculture and energy sectors.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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