reports
- Dave Nicoski
- Ross LaDuke
Vermilion Int'l Compass: Global Equity Strategy
Commodities Bullishly Inflecting; Buy Energy, Materials A weight-of-the-evidence approach continues to support our constructive intermediate-term outlook. Below we highlight recent positive developments and areas of the market that are actionable at current levels. · Recent Positive Developments. Recent positive developments include the MSCI ACWI and EAFE (ACWI-US, EFA-US) breaking to new highs while the MSCI ACWI ex-US and EM (ACWX-US, EEM-US) indexes are holding above important suppo...
CVE CENOVUS ENERGY INC.
BP BP PLC ADS
APAM ARTISAN PARTNERS ASSET MANAGEMENT INC. CLASS A
OMV OMV AG
CNQ. CANADIAN NATURAL RESOURCES LIMITED
ACX ACERINOX SA
EVR EVERCORE INC CLASS A
REP REPSOL SA
ENI.UN ENERGY INCOME FUND
FP FP NEWSPAPERS
00135 KUNLUN ENERGY CO. LTD.
5411 JFE HOLDINGS INC.
5401 NIPPON STEEL CORP.
005490 POSCO
0386 CHINA PETROLEUM & CHEMICAL CORPORATION CLASS H
PRIO3 PETRO RIO S.A.
N7MG NLMK (GDR)
MIN. MFS INTERMEDIATE INCOME TRUST
VALE. COMPANHIA VALE DO RIO DOCE CEDEAR
BSL. BLACKSTONE / GSO SENIOR FLOATING RATE TERM FUND
MT ARCELORMITTAL
PGN PARAGON AG
STLC STELCO HOLDINGS INC
IMO IMMORENTE INVEST SA
- Dave Nicoski
- Ross LaDuke
Vermilion Int'l Compass: Global Equity Strategy
Stick With Reflation & Reopening Theme Our bullish outlook remains intact and is supported by the absence of breakdowns across major global indexes (MSCI ACWI, ACWI ex-US, EM, and EAFE) and ongoing positive market dynamics. Until this changes, we believe global equities are headed higher in the coming weeks and months. · Market Dynamics Remain Positive. Our bullish outlook is supported by much more than simply a lack of support violations on major global indexes -- though this is a maj...
SU. SUNCOR ENERGY INC.
OMV OMV AG
REP REPSOL SA
SUN SULZER AG
ONGC OIL & NATURAL GAS CORP. LTD.
6326 KUBOTA CORPORATION
EMBR3 EMBRAER S.A.
6301 KOMATSU LTD.
00659 NWS HOLDINGS LIMITED
PSK PRAIRIESKY ROYALTY LTD
5020 ENEOS HOLDINGS INC.
0386 CHINA PETROLEUM & CHEMICAL CORPORATION CLASS H
- Allen Good
- CFA
Repsol's Upstream Saves the Day as Refining and Chemicals Drag on Mixe...
No-moat Repsol reported a mixed first-quarter 2018 as improving upstream results were nearly offset by a weaker downstream performance. As we have not seen anything particularly new this quarter to alter our view on Repsol, we maintain our EUR 16 fair value estimate and our no-moat rating while awaiting the strategy update that Repsol plans to release in June. We view the shares as fairly valued. Excluding inventory effects and special items, total adjusted net income grew to EUR 616 million fro...
- Jérôme VINERIER
- Jérôme VINERIER
Analyse court terme - REPSOL SA : Sans tendance
La tendance est toujours neutre, mais au sein de cet intervalle un mouvement de plus court terme se dessine vers le haut de la consolidation.Arguments :- Le support majeur est atteint, il cause le rebond.- La résistance est proche.- Les prix dépassent la moyenne mobile.
- Allen Good
- CFA
Repsol turns to driving value after years of pursuing growth.
Repsol reported mixed fourth-quarter results as a weak refining and chemical business environment offset gains in the upstream segment. Total adjusted income for the quarter was virtually flat at EUR 703 million. The upstream segment generated EUR 145 million in adjusted profits versus a break-even quarter the year before on the back of 5% production growth and higher realizations. In the downstream segment, higher energy and input costs hurt profitability and lowered adjusted net income to EUR ...
- Jérôme VINERIER
Short term view - REPSOL SA : The moving average is capping prices.
The trend is still bearish. No indicator nor pattern are questioning it. The invalidation is above €14.850. The target is at €13.600Arguments :- Prices are pulling back to the major resistance level (previously a support). The fall will resume afterwards.- The moving average is capping prices.
- Jérôme VINERIER
Analyse court terme - REPSOL SA : La moyenne mobile sert de résistanc...
La tendance est toujours baissière, aucun indicateur ni aucune figure ne la remettent en cause. L'invalidation est au-dessus de 14,850 €. L'objectif est à 13,600 €.Arguments :- Les cours font un pull-back sur la résistance majeure (ancien support), la baisse reprendra ensuite.- La moyenne mobile sert de résistance.
- Valérie GASTALDY
- Valérie GASTALDY
- Jérôme VINERIER
Short term view - REPSOL SA : Prices are breaking below the moving ave...
The trend is still bearish, the invalidation level is above €14.850. The target is at €13.600.Arguments :- Prices have pulled back to the major resistance level (previously a support). The fall is now resuming.- Prices are breaking below the moving average, it is a sign of weakness.- The double top target has been reached.
- Jérôme VINERIER
Analyse court terme - REPSOL SA : Les prix enfoncent la moyenne mobile...
La tendance est toujours baissière, son niveau d'invalidation est au-dessus de 14,850 €. L'objectif est à 13,600 €.Arguments :- Les cours ont fait un pull-back sur la résistance majeure (ancien support), la baisse reprend.- Les prix enfoncent la moyenne mobile, c'est un signal de faiblesse.- L'objectif du double top est atteint.
- Jérôme VINERIER
Short term view - REPSOL SA : A double top has just been triggered.
Prices were consolidating in a pattern. They broke below the lowest threshold of that pattern. The trend becomes bearish. The target is at €14.450. The invalidation is above€16.100.Arguments :- A double top has just been triggered.
- Jérôme VINERIER
Analyse court terme - REPSOL SA : Le double top vient d'être déclenc...
Les prix consolidaient dans une figure dont ils viennent d'enfoncer la borne basse. La tendance devient baissière. L'objectif est à 14,450 €. L'invalidation est au-dessus de 16,100 €.Arguments :- Le double top vient d'être déclenché.
Repsol SA (REP) - Oil & Gas - Deals and Alliances Profile
Summary Repsol S.A. (Repsol) is an integrated oil and gas company. It explores for, develops and produces crude oil and natural gas; transports oil products, liquefied petroleum gas (LPG) and natural gas; refines and produces petroleum products; and retails oil products, oil derivatives, petrochemicals, LPG and natural gas. It also carries generates, transports, distributes and supplies electricity. The company operates refineries in Spain and Peru. It has outlets in Spain, Portugal, Peru, an...
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