We are closing the book while we are pursuing another venture IMI LN – Closing Long +2.75% ABS, +14.25% REL HSBC – Closing Long +29.10% ABS, +40.81% REL Coach – Closing Long +21.18% ABS, +13.17% REL TITr vs. TIT – Closing Long +2.3% ABS, -2% REL Heineken – Closing Long +24.27% ABS, +31.13% REL IAG…
The P&G miss, but that isnt a surprise to anyone, and clearly isnt the driver of the group now given the 9% profit beat today. Digital factory is the buzz area and that was a huge 20% beat. This is a stock that polarises opinion. At 13x earnings and 9.5x EBITDA it is clearly cheap….
Description SES SA through its subsidiaries, offers global satellite broadband communications services. The Company offers feeds for cable television networks, Internet access, corporate networks, network facilities, telecommunications services, and audiovisual broadcasting. Short to medium term BUY thesis: *Future growth will be derived from the launch of new satellites, especially MEO * Company announced a dividend…
BUY SOCGEN: BIG Q4 beat. Better trading,CIB, French retail on fire and dividend confirmed. 5% not bad in this environment! Socgen has underperformed the sector by more than 10% YTD with litigation concerns, an unknown Basel impact and poor retail and CIB performance masking a considerable discount to the SOTP. But now post these great…
This has been a great trade for us. I think people are very long Tullow and it has basically gone up in a straight line. Even though ultimately I think Tullow and Oil goes higher this year I feel it will have a pull back first. Stepping aside and booking a profit. BUY TULLOW:…
Its been a wild ride but for us. The valuation was too compelling and contrary to what the mkt pushed there was no re financing due till 2022, EBITDA margins remained healthy so talk of bankruptcy was premature. However the market created a self fulfilling sell off which created an opportunity. We step aside now…
MAINFIRST on VW (+/220) With Dieslgate becoming a distant memory we push the BUY case again this morning. Audi model upswing starts (A8, A7 and new A6 in H2-18) and a host of new SUVs will push Audi’s EBIT up 25% by 2020 (vs 2017) and VW’s new high margin Atlas now represents half of…
EDF break up talk in French press. Similar to RWE/IGY ” scenario has been circulating for many months separating EDF’s nuclear activities from the rest of the group, namely renewable energies, energy services and 27 million customers. Without going as far as a dismantling that would raise a sling of trade unions, the idea is…
The dollar has rallied and china tightened as we expected but commodities and miners don’t care. So it is time to step aside. Closing RIO +0.65%. AAL -0.76% MINERS: WHERE DO THEY GO FROM HERE? SHORTING RIO & AAL Wednesday • 18th October 2017 • 15:54 Sector +25% since mid June. Number of drivers;…
SXKP is the second worst performing sector -5% YTD, and -12% relative to the ESTX. Since the start of 2016 its almost 30% underperformance, and that during a period of yield compression that has benefitted other yielding sectors. Why have the telcos been so poor? Competition is intense so growth is hard to come by,…