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....
Industrial demand has continued to improve in Q4 vs. Q3, with similar end market trends. Automotive, mining and semiconductors show good momentum, while energy and marine-related businesses remain subdued. Excluding the c. 7-9% FX headwind for the coming quarters, we expect 2021 earnings to be close to 2019 levels. The sector has become increasingly expensive, with most companies now trading at a premium. We believe that positive outlook statements are needed to raise sentiment further. Our key ...
Global PMIs rose higher in October, indicating underlying normalization in early Q4. Most September trends ran into October, with good automotive demand (except maybe Europe), and continued positive revisions to mining capex forecasts. The weak areas, oil & gas, marine, and aerospace, continue to decline. While October data indicate steady improvement of the overall demand picture, sharply higher COVID-19 cases are causing increasing restrictions, threatening the ongoing recovery. Our key long i...
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