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
EM Remains In Favor; Shanghai Comp Breaking Out A weakening US dollar (DXY) continues to be a major tailwind for both EM equities and the commodity Sectors. Improving price and RS trends for these risk-on areas of the market are among the many characteristics consistent with historical bull markets. Therefore, we continue to label this a bull market and we believe global equities are still in the early innings of a broad-based advance. • EM Equities. Price action has remained weak for the US...
SCCO SOUTHERN COPPER CORPORATION
STERV STORA ENSO OYJ CLASS R
FMG FORTESCUE METALS GROUP LTD
FUR FUGRO NV CERT OF SHS
KCO KLOECKNER & CO SE
120110 KOLON INDUSTRIES
MEG. MEG ENERGY CORP.
ARX. ARC RESOURCES LTD.
ELM ELEMENTIS PLC
VCT VICTREX PLC
FR. FIRST MAJESTIC SILVER CORP.
8030 CHUO GYORUI
5714 DOWA HOLDINGS CO. LTD.
4182 MITSUBISHI GAS CHEMICAL COMPANY INC.
NVA NUVISTA ENERGY LTD.
8097 SAN-AI OIL CO. LTD.
PAAS PAN AMERICAN SILVER CORP.
YRI YAMANA GOLD INC.
KCHOL KOC HOLDING A.S.
C44 CHINA RESOURCES CEMENT HOLDINGS LIMITED
LKOH OIL COMPANY LUKOIL PJSC
603799 ZHEJIANG HUAYOU COBALT CO. LTD. CLASS A
600583 OFFSHORE OIL ENGINEERING CO. LTD. CLASS A
JINDALSTEL JINDAL STEEL & POWER LTD.
4099 SHIKOKU CHEMICALS CORP.
3101 TOYOBO CO. LTD.
4208 UBE INDUSTRIES LTD.
BHARATFORG BHARAT FORGE LTD
03323 CHINA NATIONAL BUILDING MATERIAL CO. LTD. CLASS H
1605 INPEX CORPORATION
002318 ZHEJIANG JIULI HI-TECH METALS (A)
5021 COSMO ENERGY HOLDINGS CO. LTD.
LUCK LUCKY CEMENT LTD.
0914 ANHUI CONCH CEMENT COMPANY LIMITED CLASS H
VALE. COMPANHIA VALE DO RIO DOCE CEDEAR
GOAU3 METALURGICA GERDAU S/A ORD
SSRM SSR MINING INC
CGG CGG
300618 NANJING HANRUI COBALT (A)
- Dave Nicoski
- Ross LaDuke
Vermilion Int'l Compass: Global Equity Strategy
EM Breakout -- Add Exposure The laundry list of market characteristics consistent with historical bull markets continues to grow, helping support our ongoing belief that global equities are in the early stages of a broad-based advance. • US Dollar; EM Equities. The US dollar (DXY) exhibits signs of rolling over, something we outlined as increasingly likely in our 12/10/19 Int'l Macro Vision strategy. This is bullish for global equities -- especially EM -- and has paved the way for the MSCI E...
EO FAURECIA SA
SSAB A SSAB AB CLASS A
AFX CARL ZEISS MEDITEC AG
FMG FORTESCUE METALS GROUP LTD
DIVISLAB DIVI'S LABORATORIES LIMITED
KOMN KOMAX HOLDING AG
6118 AIDA ENGINEERING LTD.
6324 HARMONIC DRIVE SYSTEMS INC.
2689 KAWANISHI HOLDINGS INC.
4530 HISAMITSU PHARMACEUTICAL CO. INC.
4536 SANTEN PHARMACEUTICAL CO. LTD.
6463 TPR
002131 LEO GROUP CO. LTD. CLASS A
LKOH OIL COMPANY LUKOIL PJSC
6005 MIURA CO. LTD.
4534 MOCHIDA PHARMACEUTICAL CO. LTD.
4541 NICHI-IKO PHARMACEUTICAL CO. LTD.
4516 NIPPON SHINYAKU CO. LTD.
6594 NIDEC CORPORATION
7279 HI-LEX
POL PAKISTAN OILFIELDS LTD.
MOTHERSUMI MOTHERSON SUMI SYSTEMS LIMITED
BHARATFORG BHARAT FORGE LTD
1605 INPEX CORPORATION
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
ADRO PT ADARO ENERGY TBK
4581 TAISHO PHARMACEUTICAL HOLDINGS CO. LTD.
4578 OTSUKA HOLDINGS CO. LTD.
002353 YANTAI JEREH OILFIELD SERVICES GROUP CO. LTD. CLASS A
00700 TENCENT HOLDINGS LTD.
VALE. COMPANHIA VALE DO RIO DOCE CEDEAR
CGG CGG
- Dave Nicoski
- Ross LaDuke
Vermilion Int'l Compass: Global Equity Strategy
Opportunities within Mobile Payments, Metals & Mining, and Utilities The MSCI ACWI and S&P 500 continue to recover following the most recent test of support at their respective 200-day moving averages. With market internals still mixed, support levels holding, and indexes continuing to consolidate sideways, our neutral but constructive outlook remains intact. • Major themes: Mobile Payments, Metals & Mining, and Utilities. We believe the secular mobile payments theme (ETF: IPAY) has room to...
NVJP UMICORE
EDF ELECTRICITE DE FRANCE SA
BKW BKW AG
DRX DRAX GROUP PLC
J2B EXPERIAN PLC
FORTUM FORTUM OYJ
BLS.. BOLIDEN AB
SECH ALBIOMA
SZG SALZGITTER AG
ORG ORIGIN ENERGY LIMITED
AWC ALUMINA LIMITED
JSWSTEEL JSW STEEL LIMITED
BIL BHP GROUP PLC
EVR EVRAZ PLC
ENI ENI S.P.A.
ORSTED ORSTED
TW11 TENARIS S.A.
AMP AMPLIFON S.P.A.
IRE IREN S.P.A.
REJA REPLY S.P.A.
A2A A2A S.P.A.
SBM ST. BARBARA LTD.
9503 KANSAI ELECTRIC POWER COMPANY INCORPORATED
9511 OKINAWA ELECTRIC POWER CO. INC.
MARR MARR SPA
NLMK NOVOLIPETSK STEEL
6028 TECHNOPRO HOLDINGS INC.
9505 HOKURIKU ELECTRIC POWER COMPANY
BSL BLUESCOPE STEEL LIMITED
8174 NIPPON GAS CO. LTD.
9533 TOHO GAS CO. LTD.
KAZ KAZ MINERALS PLC
3048 BIC CAMERAS INC.
3148 CREATE S.D HOLDING
EVN EVOLUTION MINING LIMITED
ASCL ASCENTIAL PLC
RIO RIO TINTO PLC
EXO EXOR N.V.
VALE. COMPANHIA VALE DO RIO DOCE CEDEAR
9532 OSAKA GAS CO.
9502 LTD.
RUI CHUBU ELECTRIC POWER CO.
UN01 INC.
SSAB B RUBIS SCA
UNIPER SE
SSAB AB B
- Please Change Name Barbara Mattos
- CFA
Moody's: Vale's Ba3 rating and stable outlook unaffected by unsecured ...
New York, February 06, 2017-- Moody's Investors Service comments that Vale's Ba3 senior unsecured foreign currency rating and stable outlook remain unchanged following the company's announcement that it plans to issue an add-on to the 10- year USD 1 billion senior unsecured notes issued by Vale Overseas Limited in August 2016 and fully and unconditionally guaranteed by Vale S.A.. The proposed add-on to the USD 1 billion notes issued in August 2016 is part of Vale's liability...
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