2023 will provide good trading opportunities as an improving Chinese economy comes up against the Fed’s tightening cycle. China’s reopening should buoy equities in 1H23 and we are OVERWEIGHT on the reopening, reflation beneficiaries and structural growth themes in tech and industrials. 2H23 may see rising downside risk if Fed fund rates stay high and global growth slows further. Under our base-case forecast, MSCI China will hit a high of 74pt in 1H23, with the year-end target at 55pt.
Three Directors at 1300 Smiles Limited sold 11,037,305 shares at 7.000AUD. The significance rating of the trade was 92/100. 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 year...
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....
Plus, Broadband Hearing Divides, DISH Court Win, Sallet (maybe) to Antitrust Division, and a Wild Card in the Section 230 Debate. Usually we discuss the implications of something that just happened, or that we feel is highly likely to happen in the near future. This week, we focus on two things that may or may not happen but that, because of their potential impact, are currently underappreciated.
As we enter the decade of electric drive amid the rising popularity of EVs worldwide, we expect demand for EV battery materials to surge in parallel with the fast-growing EV markets, particularly in China and Europe. We expect substantial EV battery installations growth to translate into a 5-year c.30% demand CAGR for the 4 key battery materials. We prefer leaders with leading R&D capabilities, efficient capacity expansion plans, and more importantly, deep-rooted cooperation relationships with g...
During the past few days we have been collecting feedback from companies in our coverage universe to understand their exposure and the risks derived from the Covid-19 outbreak. We have compiled the statements in a What Companies tell us so far section and tried to provide sensitivities for some companies/parameters. The focus of attention is clearly moving from China to Europe/Italy. While most Chinese production sites of companies in our coverage have resumed operations (e.g. AT&S, Andritz, A...
How does the shutdown affect the short-term outlook? Management presented details of the current shutdowns, which affect mainly the Chongqing II and Shanghai plants, while Chongqing I is up and running, albeit at lower capacity utilisation as not all personnel was able to return. Suppliers would need to ramp-up production within the next two weeks for keep Chongqing I running for the remainder of February. We remind that the new FY guidance implies 4Q 19/20 revenues of EUR 207 mn, down 13% yoy, ...
KKR Launches its Credit Income Fund US Investment Group KKR launched an IPO for a new listed investment trust, the KKR Credit Income Fund (ASX: KKC), and is seeking to raise up to $925m. The offer size was increased from a previous maximum of $825m due to strong demand under the cornerstone and broker firm offers. Given the strong demand the offer closed on 16 October, 2019, just two days after opening. The shares are expected to start trading on the ASX on 21 November. KKC, which will invest in...
We share with you our first insight into the UK’s top renewable generation funds. For many investors, REIFs offer an attractive means of securing exposure to the benefits of rising UK investment in renewable energy sectors, much of which is backed by long-term contracts delivering generally solid and secure returns. Following an industry-wide consultation and the Association of Investment Companies’ (AIC) reclassification of sectors in May, we have applied our analyst’s 30+ years of secto...
Bekaert: Read-through from Xingda’s results Celyad: FY18 - CEO switch to Petti with a busy 2019 in sight EXMAR: Commissioning TFLNG fully on track Galapagos: Superior Filgo safety lifts GLPG to the next stage Hal Trust: FY18 Results, dividend set at € 5.3 p.s. (-14.5%) IBA: Two promising announcements SBM Offshore: Challenge AFM fine Sofina: Strong FY18 Results, dividend up 4.5% UCB: Cimzia – 1st FDA approved treatment for nr-axSpA Financial Services: Dutch insurance regulator visit: chang...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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