TECHNIP

Short

Monday • 05 January 2015 • 09:51

12% rally from the lows in December due to the stabilisation in oil prices. Oil stocks have caught back up to the oil price and overshot

Since then brent has broken $60 and is heading lower for me

Strong USD and weak China data in December will continue to drag

Oil service stocks will continue to see backlog decline and projects being delayed as the majors optimise operating free cash flow

According to Il Sole 24 Ore, the potential integration between Saipem and Technip might resurface. Imagine the disaster that would be!

Was not long ago that Technip where bidding for CCG. That may well resurface as well which would not be taken well

There are still downgrades to come in the sector

Short half the total position here

Open Ideas

Monaco Alpha

Trade		Return	Relative Return (vs SXXP)
NOKIA	B	+24%	+27%
CCJ	B	+100%	+103%
FAR	B	-47%	-36.7%
TDW	B	+67%	+82%
FTI	B	-10%	+4.2%
CGG	B	-14.2%	+0.3%
RIG	B	-27%	-12.4%
SUBC	B	+12%	+26.5%
SPM	B	-68.5%	-54%
HLX	B	-28%	26.5%
LKOD	B	N/A	N/A
ATAD	B	N/A	N/A
TLW	B	-28.8%	-14.18%
GKP	B	+40%	+55%
MBTN	B	-1.1%	+12.84%
DOLE	B	-48.5%	-32%
PAM	B	+18.5%	+34.5%
YPF	B	-33.1%	-33.2%
ATO	B	-81.5%	-62.8%

Open Crypto Ideas

Serban

Trade		Return	Relative Return (vs SXXP)
UNI	B	-9%	-21%
LINK	B	+7%	-5%
SOLANA	B	+1160%	+1148%
KSM	B	-9%	-21%
EGLD	B	+124%	+112%
OCEAN	B	-34%	-46%
OGN	B	-43%	-55%
COTI	B	+6%	-6%
ORN	B	-55%	-69%
LIT	B	-50%	-62%
TVK	B	-64%	-76%
FRONT	B	-64%	-76%
MATIC	B	+143%	+134%
RSR	B	+16%	+14%
ACH	B	+48%	+46%
FORTH	B	-1%	-1%

Closed Ideas

Monaco Alpha

Trade		Return	Relative Return (vs SXXP)
Technip	S	-10.3%	-2.7%
CAC vs. DAX		-9.27%	-9.27%
BATS vs. IMT		-8.4%	-8.4%
Enel	S	-4.5%	-6.4%
UniCredit	B	-3.6%	-4.9%
Miners vs. Oils		-3.2%	-3.2%
Sanofi	B	-3.0%	-5.5%
Pirelli	B	55.29%	26.33%
TF1	B	26.1%	15.8%
CRH	B	23.6%	11.5%
ING	B	20.86%	16.09%
KPN	B	18.9%	14.1%
BASF	B	17.2%	6.6%
Commerzbank	B	16.1%	10.3%
Tele2	B	14.9%	13.0%
Tesco	S	13.2%	15.1%
Airbus	B	12.9%	6.6%
Shire	B	12.0%	7.2%
Dixons	B	10.5%	6.8%
BHP Billiton	S	9.68%	4.4%
BMW	S	9.25%	14.06%
Edenred	S	8.4%	12.7%
Rolls Royce	B	6.1%	6.0%
DIA	S	5.59%	1.16%
Fiat	B	5.9%	5.4%
BAE	B	3.7%	0.1%
AB Foods	S	3.4%	5.4%
Dassault	S	0.7%	1.4%
Pop. Milano	B	50.4%	43.6%
Delta Lloyd	B	-21.3%	-18.43
Telecom Italia	S	9.17%	19.16%
Schneider	B	-3.76%	-2.81%
Alstom	B	10.82%	18.53%
VW	B	-23.9%	-21.8%
EON	B	-18.1%	-16.47%
Fiat	B	15.10%	10.79%
ATOS	B	12.5%	7.63%
LVMH	S	0.26%	-11.22%
SABMiller	B	12.46%	9.8%
AIR vs SAF		6.58%	6.58%
ING vs KBC		6.12%	6.12%
Metro	B	14.37%	0.71%
Orange	B	13.01%	18.31%
SKF	B	-3.09%	+4.05%
Rio Tinto	B	-10.24%	-4.71%
Glencore vs SXXP		-9.25%	-9.25%
Sandvik	S	20.61%	8.3%
Swatch	S	45.54%	43.37%
Hermes	S	5.3%	-2.02%
LVMH	S	4.5%	-3.15%
KPN	B	6.6%	9.6%
Ferrari	S	30.31%	17.86%
Renault	B	8.29%	8.88%
Commerzbank	B	12.87	1.92%
NIKE	S	5.1%	5.04
Peugeot	B	52.77%	56.8%
Tesco	S	-2.04%	5.24%
Wolseley	B	11.3%	4.2%
Fiat	S	10.66%	13.42%
Deutsche Telekom	B	-3.99%	+1.45%
Kering	S	-6.7%	-7.3%
WM Morrison	S	-5.5%	-4.6%
WM Morrison	B	3.3%	2.9%
SAB	B	7.7%	5.4%
Adidas	B	174.5%	170.14%
Luxottica	S	4.01%	6.5%
EOAN	B	5.01%	7.2%
Shire	B	20.43%	23.7%
GSK	B	11.31%	14.3%
FTSE NAMES	B	31.74%	38%
Ryanair	S	15.6%	11.2%
VXX US	B	-32.5%	-29.6%
VXX US	B	3.9%	0.4%
BHP	S	3.16%	2.5%
ISP vs ISPR		0.2%	0.2%
BZU	S	-6.1%	-2.5%
ISP	B	17.01%	11.17%
ORANGE	B	7.26%	6.75%
Reckitt's	S	4.09%	3.85%
Adidas	S	-22%	-20.5%
Fiat	S	-15.5%	-14.8%
Nestle	B	13.45%	12.95%
Unilever	S	+0.39%	-3.08%
Easyjet	S	6.3%	7.5%
Deutsche Telekom	B	+2.3%	0.71%
Technicolore	B	-3.25%	-3.88%
RWE	B	+58.66%	+49.48%
Mediaset	S	+31.2%	+24.21%
Michelin	S	+2.87%	+3.07%
Rio	S	+0.65%	-1.28%
Anglo American	S	-0.76%	-1.28%
Gemalto	B	+40.30%	+0.60%
Altice	B	+45.83%	+42.81%
Tullow Oil	B	+47.37%	+29%
Airbus	S	-17.89%	-21.1%
Casino	B	+46.04	+46.01
Ingenico	S	+17.36%	+10.58%
IMI	B	+2.75%	+14.25%
HSBC	B	+29.10%	+40.81%
Coach	B	+21.18%	+13.17%
TITr vs. TIT	B	+2.3%	-2%
Heineken	B	+24.27%	+31.13%
IAG	B	+19.78%	+27.84%
FOX	B	+91.31%	+88.49%
Telecom Italia	B	-33.32%	-43.72%
Zalando	B	+3.73%	-7.37%
Vodafone	B	-15.49%	-21.69%
RNO vs UG	B	-15%	-7.8%
Ubisoft	B	+117.54%	+113.24%
Bollore	B	+9.92%	+11.16%
Bouygues	B	+11.08%	+14.68%
Eni	B	+3.53%	+6.92%
VW	B	+3.26%	+7.89%
EDF	B	+73.97%	+82.75%
Telco consolidation	B	-37.14%	-46.44%
Vivendi	B	+16.87%	+25.66%
Shire	B	+8.93%	+16.53%
Solocal	B	-30.52%	-24.92%
St Gobain	S	+40.31%	+44.31%
Next	S	-9.46%	-3.34%
EEM US	S	+12.56%	+19.12%
Buy Telcos	B	-8.10%	-13.99%
Societe Generale	B	-28.55%	-22.61%
SES	B	+60.91%	+67.83%
Siemens	B	-10.44%	-2.04%
Norsk Hydro	B	-5.05%	+0.36%
K+S	B	+32%	23%
B4B	B	+14.5%	+12.5%
EO	S	-7.5%	-1.8%
KPN	B	+0.25%	-3.3%
ENX	B	+18%	+9.2%
STLA	B	+28.2%	+13.7%
UBI	B	-10.3%	-15.3%
REP	B	+32%	+16.5%
FTSE100	B	+6.69%	-5.2%
FTSE250	B	+8.56%	-6.26%
CNE	B	+56.14%	+41.48%
DAI	B	+8.9%	+3.14%
BMW	B	+7.65%	+7.62%
BAYN	B	+9.04%	-2.75%
HBR	B	+19.45%	+15.34%
BOO	B	-22%	-22%
VIV	B	+18.65%	+18.52%
TMV	B	+51%	+51%
TED	B	+14%	+14%
SSE	B	+5%	+15%
KBC	B	+2%	-2%
SGRE	B	+11%	+7.5%
EDF	B	+31%	+35%
CNA	B	+31%	+37%

Closed Crypto Ideas

Serban

Trade		Return	Relative Return (vs SXXP)
AKRO	B	-4.7%	-2.1%
LTC	B	+61.9%	+58.8%
ATOM	B	-18.8%	-20.8%
THETA	B	-11.1%	-12.9%
FTM	B	-19%	-20.7%
ALGO	B	-10.6%	-12.5%
MATIC	B	+18.3%	+18.1%
SNX	B	+24%	+22.5%
THETA	B	+27.9%	+26.9%
COMP	B	+26%	+23.7%