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Eric Morera

Shanghai Composite Index in Multi Year Consolidation

  September 23, 2020 By As of 22 September, Shanghai Composite Index (SSE) is up 6.9% despite the geopolitical tension with the US and coronavirus pandemic. Contrast this with S&P 500 which has YTD performance of 2.1%. Part of the reasons for the resilience is due to Chinese economy relatively speedy recovery from the pandemic. After the initial breakout in Wuhan, Chinese government took a draconian lockdown which successfully contained the virus. Although occasional breakout still happens, China’s effort in containing the coronavirus is pretty successful compared to some western count...

Eric Morera

Nikkei: Forecasting The Rally From Elliott Wave Blue Box

  September 23, 2020 By This week we witnessed a sharp decline in Nikkei followed by an equally sharp rally. Our weekend update informed members that a decline was expected to unfold this week followed by a reaction higher, we even showed them the area where we expected the decline to end and reaction higher to take place. In this article, we will look at the weekend chart of Nikkei and how the market reacted after reaching the target area. Nikkei 4 Hour Elliott Wave Analysis 9.19.2020 [Weekend Update] Chart below shows Nikkei completed wave ((3)) at 23630 on September 2, 2020 and st...

VHC - US market to be the recovery momentum

Pangasius exports to the US, the company’s largest market, has showed good signs of recovery in both ASP and volume, better than other major markets. We expect the US to be the major growth driver of the pangasius segment for the rest of 2020 and 2021. The “new normal state” and the public concerns on unpredicted health problems continue to boost growth of value-added pangasius as well as collagen. We are  more optimistic about the company's ability to stabilize pangasius ASP in 2021 in the face of global economic difficulties. Considering all these factors, we revise up the target price for V...

Eric Morera

Southwest Airlines (LUV) Getting Close to Take Off

Southwest Airlines (LUV) Getting Close to Take Off September 24, 2020 By At Elliottwave-Forecast, we are always looking for an edge to get clues about the next market move and hence be able to better anticipate the next market move. We look at a number of instruments from around the World to get a more complete and correlated forecast as we do believe in the concept of one-market. Today, we will be taking a look at the long-term Elliott Wave Forecast for Southwest Airlines Co. Southwest Airlines (LUV) Grand Super Cycle Chart below shows Elliott Wave Grand Super Cycle in Southwest Air...

Topline Flash Note: Pakistan Cement: CCP inspects APCMA, cement manufactures' offices

On Sep 24, 2020, the Competition Commission of Pakistan (CCP) searched cement association and its member office(s) in Lahore. CCP has been entrusted with the exclusive statutory mandate of providing free competition in all spheres of commercial and economic activity, to enhance economic efficiency and protect consumers from anti-competitive practices in Pakistan. These raids are based on the information they receive from informants or through their own finding of any unfair (like collective decision making, cartelization) activity. As per channel checks, the CCP has collected data of the se...

Tomasz Rodak

LSI Software: 2Q20 results released – above our expectorations; best quarter in the history

LSI Software: 2Q20 results released – above our expectorations; best quarter in the history

Research Team

DM BOŚ: Daily research report – date 25.09.2020

Headlines Conferences calendar … 2 Large-cap companies news … 3 PKN Orlen: PE3 project finalized KGHM, PGNiG: Appendix to gas contract CD Projekt: Resale update; 87% of resale target achieved by Tuesday Small- and mid-cap companies news … 4 LSI Software: 2Q20 results released – above our expectorations; best quarter in the history Kęty: 3Q20 preliminary figures, NP up 21% yoy Tower Investments: 2Q20 results released; very poor, yet in line with preliminary showing Poland: capital market calendar … 7 DM BOŚ Coverage Universe … 11

Pakistan Bank: Credit risks manageable; preference for larger banks, (AKD Daily, Sep 24, 2020)

AKD Daily Pakistan Bank: Credit risks manageable; preference for larger banks Benefitting from regulatory relaxations, loan quality remains convincing with total NPLs of private banks in our universe standing at PkR300.7bn in Jun’20 (+3.3%QoQ/+7.0% since Dec’19). Overseas NPLs recorded a sharp uptick to US$634.2mn in Jun’20 vis-à-vis US$603.8mn in Dec’19, primarily attributable to classification of a single party loan in Middle East. Most banks in our universe, following active risk management, subjectively booked loss reserve for potential weakening of loan portfolios. As a result, fre...

Sobiesław Pająk

Asseco SEE: 3Q20 results’ forecast, FY forecasts and 12M EFV raised

Asseco SEE: 3Q20 results’ forecast, FY forecasts and 12M EFV raised.

Boris AFRAN ...
  • Fabrice KOUAME
  • Gustave KRAGBE

Daily Market briefing - West African Regional Stock Exchange

BRVM has closed its trading day on Thursday September 24th, 2020 lower compared to Wednesday. The market capitalization (Stocks + Bonds) decreased by 0.17% to stand at XOF 9 339.33 billion against XOF 9 354.89 billion previously.

Stephan Bogner

Happy Battery Day for Zinc8: Winner of the first-ever Innovation Competition spearheaded by the US Department of Buildings of New York

As the world eagerly awaited Tuesday‘s “Battery Day“ event from Tesla unveiling “many exciting things“ around innovations in lithium-ion battery technology to make electric vehicles more attractive for adoption, Zinc8 Energy Solutions Inc. had its own “Happy Battery Day“ on Tuesday announcing to be a winner of the Carbon Neutrality Innovation Challenge from the New York City Department of Buildings. With almost 80% of NYC‘s greenhouse gas emissions coming from buildings, batteries play a crucial role in the City‘s world-leading Green New Deal, mandated to make New York carbon neutral by the ye...

Stephan Bogner

Happy Battery Day für Zinc8: Gewinner vom allerersten Innovationswettbewerb des US-Gebäudeministeriums von New York

Als die Welt am Dienstag gespannt auf den “Battery Day“-Event von Tesla wartete, an dem “viele erstaunliche Dinge“ rund um Innovationen in der Lithium-Ionen-Batterietechnologie enthüllt werden sollten, um Elektrofahrzeuge für den globalen Einsatz attraktiver zu machen, hatte Zinc8 Energy Solutions Inc. seinen eigenen “Happy Battery Day“ als der angehenden Batterieproduzent am selben Tag zum Gewinner vom Carbon Innovation Challenge des New York City Department of Buildings gekürt wurde. Da fast 80% der Treibhausgasemissionen in New York City aus Gebäuden stammen, spielen Batterien eine entschei...

Véronique Riches-Flores

Après les PMI, de nouveaux warnings des services de l’INSEE et l’IFO

Les indicateurs français et allemands de climat des affaires poursuivent globalement leur amélioration en septembre, à l’image du composite de l’INSEE, qui reprend deux points, à 92, et de l’IFO qui en gagne un, à 93. Trois ombres, non négligeables, au tableau, néanmoins. La première concerne la lenteur du rattrapage, en comparaison des mois précédents. La deuxième est relative au caractère toujours très inégal de la reprise industrielle, très concentrée dans l’automobile et l’alimentaire. La troisième, à la fois prévisible mais véritablement préoccupante, vient du retournement des perspective...

Md. Asrarul Haque

Equity Note_Power Grid Company of Bangladesh Limited

Power Grid Company of Bangladesh (PGCB) is the sole power transmission company in Bangladesh. The country’s entire transmission lines, sub-stations, load-dispatch centers, communication facilities etc. are solely owned by the Power Grid Company of Bangladesh Ltd. The company is also responsible for the co-ordination of integrated operations of regional, national and international grid systems and also provides consultancy services in power systems and execution turnkey jobs for other organizations.

Pakistan State Oil Company Limited (PSO): Earnings revised up, Buy Maintained

We maintain ’Buy’ rating on Pakistan State Oil Limited (PSO) with a revised Target Price of Rs258. The stock offers an upside of 27%. The company trades at a FY21E P/E of 6.8x and P/B of 0.8x. We are also revising up our earnings estimates for the company by 13% for FY21E. Our earnings revision primarily stems from (1) decrease in short term borrowings and (2) demand pick up as economy comes out from shocks of COVID-19. Deleveraging – Balance sheet Payment proceeds from the issue of Pakistan Energy Sukuk 2 has enabled the company to significantly reduce its liabilities/improve liquidi...

*** Octo - Creditorial - 24 September 2020 ***

*** Octo - Creditorial - 24 September 2020 *** GRENKE / MACIF / LAGARDERE / PEUGEOT / CMA CGM / EUROPCAR / ORPEA

*** Octo - Creditorial - 24 Septembre 2020 ***

*** Octo - Creditorial - 24 Septembre 2020 *** GRENKE / MACIF / LAGARDERE / PEUGEOT / CMA-CGM / EUROPCAR / ORPEA

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 24/09/2020 - Medtronic, Secteur bancaire

Fixed Income        TP ICAP (Europe) S.A. | Recherche Crédit | Jeudi 24 septembre 2020   Medtronic : Nouvelle émission senior unsecured  Secteur bancaire : Les PGEs protègent la qualité d’actifs du secteur jusqu’à la fin d’année Westpac : Amende de AUD$1,3 md à cause d’une affaire de violation des lois anti-blanchiment Peugeot (Achat) : Rachat de 10m de ses propres actions à Dongfeng Motor pour €164m CMA CGM (Vente) : Accord pour la prise de participation de 30% de groupe Dubreuil Aéro via une augmentation de capital pour €50m OMV (Acha...

Nadejda Dafinkicheva

FFBH Daily Bulletin - 24.09.2020

The volatility on BSE-Sofia increased significantly on Wednesday reflecting the global markets sentiment, but finally the indexes ended on the positive side as SOFIX (425.11) added 0.36%. Trace Group (T57, BGN 3.40, -3.41%) fell the most among the benchmark index members, followed by Chimimport (6C4, BGN 0.9, -2.70%) and Elana Agrocredit (0EA, BGN 0.975, -2.50%). Eurohold (4EH, BGN 1.60) and Gradus (6GR, BGN 1.40) on the other hand rebounded by 6.67% and 2.94%, respectively but the volumes of both names remained far from the average for the last 3-months. The buying interest in Sopharma (3JR, ...

Research Team

US refining: An update on weekly EIA information

US refining: An update on weekly EIA information.

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