reports
- Jayanth Kandalam
- Leonard Law
- Haidje Rustau
- Jayanth Kandalam
- Haidje Rustau
- Jayanth Kandalam
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Egor Fedorov
- James Wilson
EM Credit Spark/EM credit weekly & trade ideas update
The focus looks set to remain on US trade policy and tariff noise, with macro data taking a back seat. EM credit should remain resilient amid the noise, although valuations look fairly tight for most names. We have reviewed operating results of Turkish renewable energy companies and decided to add Zoren Enerji Bonds to our trade ideas lists with an 11.0% yield target.
- Egor Fedorov
- James Wilson
EM Credit Spark/EM credit weekly & trade ideas update
The focus looks set to remain on US trade policy and tariff noise, with macro data taking a back seat. EM credit should remain resilient amid the noise, although valuations look fairly tight for most names. We have reviewed operating results of Turkish renewable energy companies and decided to add Zoren Enerji Bonds to our trade ideas lists with an 11.0% yield target.
- Jayanth Kandalam
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
Lucror Analytics - Morning Views Europe
In today's Morning Views publication we comment on developments of the following high yield issuers: Guala Closures, House of HR, Itelyum Group, TeamSystem, Fedrigoni, Forgital, Canpack, Cirsa, International Personal Finance, La Doria, Polynt, Samvardhana Motherson, Grupo Antolin, Sasol, Ineos, Ineos Quattro, Odigeo, Adler Pelzer
- Jayanth Kandalam
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
- Felix Fischer
Europe HY Trade Book - May 2025 - Lucror Analytics
The Europe HY Trade Book for May 2025 includes current trade recommendations drawn from our European HY coverage universe, along with relative-value scatter plots and tables by industry. We also discuss the US tariff situation and key related impacts.
SCHP SECHE ENVIRONNEMENT
PFD PREMIER FOODS PLC
AMS AMS AG
CO CASINO GUICHARD-PERRACHON SA
VK VALLOUREC SA
TLW TULLOW OIL PLC
EO FAURECIA SA
105I SAPPI LIMITED
TEVA.N TEVA PHARMACEUTICAL INDUSTRIES LIMITED SPONSORED ADR
LBTYA LIBERTY GLOBAL PLC CLASS A
CSTM CONSTELLIUM SE CLASS A
CCK CROWN HOLDINGS INC.
RXL REXEL SA
DBG DERICHEBOURG SA
725180 STADA ARZNEIMITTEL AG
NOKIA NOKIA OYJ
TNET TELENET GROUP HOLDING NV
TUI1 TUI AG
NEX NEXANS SA
VED VEDANTA RESOURCES PLC
VCP VICTORIA PLC
AF AIR FRANCE-KLM SA
BBD.B BOMBARDIER INC. CLASS B
SYNT SYNTHOMER PLC
INTRUM INTRUM AB
888 888 HOLDINGS PLC
IPF INTERNATIONAL PERSONAL FINANCE PLC
ENQ ENQUEST PLC
EDR EDREAMS ODIGEO SA
TC1 TELE COLUMBUS AG
9984 SOFTBANK GROUP CORP.
103M SASOL LIMITED
TIT TELECOM ITALIA S.P.A.
REC RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.P.A.
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
TALK TALKTALK TELECOM GROUP PLC
TATAMOTORS TATA MOTORS LIMITED
PL8 PLAYTECH PLC
ARW ARROW GLOBAL GROUP PLC
NEMAKA NEMAK S.A.B. DE C.V.
SPIE SPIE SA
CEXA CEMEX SAB DE CV (ADR)
ARD ARDAGH GROUP S.A. CLASS A
PFL PFLEIDERER GROUP SA
DIGI DIGI COMMUNICATIONS NV
CDR CODERE S.A.
GAME GAMENET GROUP SPA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC
AXA AXACTOR SE
BORR SECURITAS DIRECT AB CL B
BORR DRILLING LTD
- Egor Fedorov
- James Wilson
EM Credit Spark/EM credit weekly
The trade war de-escalation has offered some breathing space for investors and driven positive sentiment, but we expect headline volatility to continue. Much of the focus will also be on geopolitical developments. In this report we have reviewed a large number of Turkish non-financial corporates, added the idea to buy SGLSJ'29 and closed the idea to buy WE SODA.
- Felix Fischer
- Jayanth Kandalam
- Si Yong Ng
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
Lucror Analytics - Morning Views Europe
In today's Morning Views publication we comment on developments of the following high yield issuers: TK Elevator, Verisure, Arxada, Modulaire, Omnia Technologies, Eircom, Iliad, Travelodge, Advanz Pharma, Trivium, Cheplapharm, Teva, Biofarma, Biogroup, AMS Osram, Ardagh, ASK Chemicals, Rino Mastrotto, Scan Global Logistics, Sasol
- Egor Fedorov
- James Wilson
EM Credit Spark/EM credit weekly review and trade ideas update
Trade tensions continue to whipsaw the credit markets, while the focus is now more intensely on the potential slowdown in economic growth in the US. We would still prefer to be positioned relatively cautiously despite the spread widening YTD, given the potential for further volatility and headline noise.
- Jayanth Kandalam
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Jayanth Kandalam
Sasol - Earnings Flash - H1 FY 2024-25 Results - Lucror Analytics
Sasol has reported weak H1/24-25 results, driven by impairments and low volumes against a challenging macro backdrop. The margins weakened, albeit somewhat supported by a better mix and decreased costs. Cash-flow development strengthened, but remained weak. The company foresees some sequential improvement in H2, though medium-term risks persist.
- Ian Wong
- Jayanth Kandalam
- Felix Fischer
- Ian Wong
- Jayanth Kandalam
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