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....
Rating Action: Moody's assigns A2 rating to Total's proposed hybrid notes. Global Credit Research- 27 Aug 2020. Frankfurt am Main, August 27, 2020-- Moody's Investors Service, has today assigned an A2 rating to the proposed junior subordinated euro medium term notes to be issued by Total SE.
High leverage precipitates losses in Q3TOTAL recently released its 9M’19 scorecard, reporting a 2% y/y climbdown in turnover to ₦221.8 billion (Vetiva estimate: ₦222.7 billion). A major highlight in TOTAL’s Q3 performance is the drift in profitability to negative terrain, as the firm posted a loss after tax of ₦205 million for 9M’19—a reflection of the impact of high finance charges (9M’19: ₦6.1 billion, 9M’18: ₦3.0 billion) on earnings.Fuels segment posts flattish Q3 turnoverQ3 fuel...
Oil prices have been volatile since the start of the third quarter, driven by demand-inclined factors and unprecedented disruptions in world supply. In early August, Brent price plunged to a seven-month low of $57/bbl, after escalating trade tensions between Washington and Beijing intensified concerns over slowing oil demand. Meanwhile, in mid-September, a short-lived surge drove Brent price to a peak of $70/bbl, after attacks on Saudi’s oil infrastructure drained about 5.7 mb/d—5% of world cru...
Petroleum products sales dip q/q In Q2’19, TOTAL’s turnover markedly slid 9% y/y to ₦73 billion, underperforming our estimate of ₦76 billion. The fall in turnover was principally driven by the 6% q/q decline in sales of petroleum products, reflecting a catch-up occurrence to lower petroleum imports by the Nigerian National Petroleum Corporation (NNPC). Given the cyclical nature in the downstream market where the third quarter usually emerges the weakest, we expect sales of petroleum product...
Nigeria H2'19 Outlook - Feeble feet on thorny grounds Narrow opportunity window amid easing global monetary conditions: A sense of urgency is required for Nigeria to derive optimal benefits from the sudden increase in global liquidity conditions occasioned by the switch to accommodative monetary policy by central banks in developed markets. IMF projections indicate, that global GDP growth could ease to 3.3% for FY’19 due to weaker growth in the...
Rising U.S. crude output to weigh on oil prices in FY'19 Amid contrasting developments in supply dynamic, oil prices recorded sharp movements and volatility through 2018. While OPEC output cuts and U.S. sanctions on Iran provided support for crude prices in H1’18, record U.S. output and subsequent waivers to Iranian oil customers by the U.S. boosted supply in H2’18, resulting in a slump in oil prices. In FY’19, we foresee a moderation in a...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.