COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: LAR ESPAÑA, OHLA, ROVI. EUROPA: INFORME ANUAL EURO STOXX 50, SAP, TOTAL ENERGIES. A la espera de novedades en Oriente Medio Las bolsas europeas cerraron muy planas, ya que la depreciación del euro ayudó a capear la mayor prima por riesgo geopolítico. Con todo lo anterior, en el STOXX 600 Energía repitió como el mejor sector (gracias al avance del Brent) seguido por Tecnología mientras que Utilities y Viajes&Ocio terminaron con las mayores correccion...
Reiterating Japan Overweight -- Add Exposure Our bullish outlook (since early-November 2023) remains intact, and we continue to recommend buying dips as long as MSCI ACWI (ACWI-US) and EM (EEM-US) remain above important supports at $110 and $41-$42, respectively. Reiterating Japan Overweight -- Add Exposure. The Nikkei 225 displays a 2-month base breakout, and the TOPIX and TOPIX Small indexes are on the cusp of 3-month breakouts to multi-decade highs. This signals a continuation of the uptren...
What you need to know: • We anticipate oil prices to remain within the US$80-$90 range, which will sustain the current uptick in E&P capital expenditure and foster a strong environment for oilfield services firms. • Our peer group continues to trade at deep-value multiples; currently at 4.5x/4.0x 2024E/2025E EBITDA. • We highlight a few of our favourite small-cap names that we believe have significant upside as we move into H2/24. Following our last oilfield services thematic note (published i...
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
Whereas hydrogen fuel cell systems have not had a break-through in the passenger car market, the situation for the commercial vehicle market looks very different: For heavy-duty trucks in particular, FCVs are superior to BEVs when it comes to charging times, payload and driving range. In this report, analyst Julie Boote assesses the outlook for hydrogen fuel cell trucks and explains how the main global participants are positioned.
What you need to know: • We expect oilfield service stocks to continue to outperform in 2023 and beyond based on supportive oil price fundamentals, rising capex levels amongst E&Ps, and pricing power leading to margin expansion • Despite the sector’s strong fundamental tailwinds and the probability for a multi-year commodity supercycle, oilfield service companies are still trading at trough-level multiples Investment Thesis Supportive Oil Prices While we will not go in-depth on oil price funda...
Int'l Equity Strategy The recent bear market rally has run its course and market indicators are still largely bearish amid rapidly rising global rates/inflation and tightening monetary policy. Moreover, the broad MSCI global indexes (ACWI, ACWI ex-U.S., EAFE, and EM) all remain in YTD downtrends. As long as these downtrends remain intact, we are bearish at the index level, and we expect more volatility and lower prices ahead. From a Sector perspective, we want to remain overweight commodity ...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACERINOX, BBVA, CAF, EBRO FOODS, REPSOL, VIDRALA. EUROPA: TOTAL ENERGIES. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 4T’21 que se publicarán en España y Europa en los próximos días. La semana seguirá marcada por el conflicto bélico La evolución de las bolsas la semana pasada ha estado marcada por la inv...
The general evaluation of CNOOC LTD (HK), a company active in the Exploration & Production industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date February 1, 2022, the closing price was HKD 9.36 an...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
A director at Cnooc bought 200,000 shares at 7.190HKD and the significance rating of the trade was 50/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing...
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
Brent crude oil has fallen from over $70 a barrel in late April to about $61 today on the back of concerns on global demand amid the trade tension between the U.S. and China. We lower CNOOC's and PetroChina’s fair value estimates to HKD 14.30 per share ($183 per ADR) and HKD 4.70 per share ($60 per ADR, CNY 4.04 per share) from HKD 14.50 ($186) and HKD 5.10 ($65, CNY 4.38), respectively, after incorporating weaker near-term crude oil price assumptions in our valuation models. However, our midc...
CNOOC is the upstream arm of China's third state-owned oil company, China National Offshore Oil. As a result, it's the most direct option for investors seeking exposure to China's energy security policy and long-term plans to increase its oil supply. As it does not have downstream activities, the company has also avoided a large legacy labor force. None of the company's sales are subject to government price controls.CNOOC also represents China's rights to potentially lucrative offshore reserves ...
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