Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

Industrial production in Eurozone continues to struggle to gain momentum and came in weaker than expected in June which poses a risk to our GDP outlook of 1.3% for 2016 (lowered from 1.6% after the Brexit vote). While the weakness in factory output was seen ahead of the Brexit vote, the effect of UK’s exit is clearly felt in the aftermath, and it is expected to come in weaker going forward.Industrial Production (IPI) in the Eurozone came in at 0.4% y-o-y in June 2016 similar to the growth seen…

Industrial production in Eurozone continues to struggle to gain momentum and came in weaker than expected in June which poses a risk to our GDP outlook of 1.3% for 2016 (lowered from 1.6% after the Brexit vote). While the weakness in factory output was seen ahead of the Brexit vote, the effect of UK’s exit is clearly felt in the aftermath, and it is expected to come in weaker going forward.Industrial Production (IPI) in the Eurozone came in at 0.4% y-o-y in June 2016 similar to the growth seen…

EUROZONE: Weak Industrial Production Poses Risk to GDP Growth

Equity Research Analyst, Maritime sector, Drewry Maritime Financial Research

Ankush Kathuria CFA, FRM

Equity Research Analyst, Maritime sector

Maritime Sector, Equity & Credit Research

Drewry Maritime Financial Research

With no ties to other players in the shipping, finance or banking world, we provide a uniquely impartial view of the markets and companies we cover. Our parent organization, Drewry is a leading independent provider of research services to the maritime and shipping industry, employing over 100 professionals across an international network of offices in London, Delhi, Singapore and Shanghai. Combining our market-leading resources with seasoned sector expertise DFRS offers a highly differentiated and comprehensive range of investment and financial research services to lenders and prospective investors in publicly listed maritime and shipping companies. The full service of reports, supporting resources and sector orientated webinars provides our clients with the most complete picture of the organisations under coverage as is possible. We have been charting and analysing the world’s maritime markets for more than 40 years. This unrivalled intelligence and understanding provides the foundation of our research service. Our analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

Thematic (Sector/Industry)

DMER Shorts - Hapag Lloyd negative warning not a surprise, stay sellers of container shipping <figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/010/438/original/HLAPMM1.jpg?1468828073" class="editor-image img-responsive" data-smartkarma-image-id="10438"></figure> Hapag Lloyd negative warning not a surprise<ul><li><ul>
<li>
This morning Hapag Lloyd issued a negative outlook adjustment , “The revised expectation of the Executive Board is a clearly decreasing EBITDA and a clearly decreasing EBIT compared with previous year.” 
</li>
<li>
Key reasons for the revised outlook were as below, <ul>
<li>Development of freight rates is significantly weaker than expected.</li>
<li>
Recovery at beginning of July doesn’t…</li>
</ul>
</li>
</ul></li></ul>

DMER Shorts - Hapag Lloyd negative warning not a surprise, stay sellers of container shipping  Hapag Lloyd negative warning not a surprise

This morning Hapag Lloyd issued a negative outlook adjustment , “The revised expectation of the Executive Board is a clearly decreasing EBITDA and a clearly decreasing EBIT compared with previous year.” 


Key reasons for the revised outlook were as below, 
Development of freight rates is significantly weaker than expected.

Recovery at beginning of July doesn’t…




DMER Shorts - Hapag Lloyd Negative Warning Not a Surprise, Stay Sellers of Container Shipping

Industrial Production (IPI) in the Eurozone revived in April 2016 after having recorded negligible growth in March 2016. On a seasonally and working day adjusted (swda) basis, production grew by 2% y-o-y in April 2016 compared to a rise of 0.1% y-o-y in March 2016. It grew 1.1% y-o-y on a 3-month moving average (3mma) basis in April 2016 compared to 1.6% y-o-y in March 2016.In terms of industry segments, electricity &amp; utilities increased 1.8% y-o-y in April 2016 after having recorded negative…

Industrial Production (IPI) in the Eurozone revived in April 2016 after having recorded negligible growth in March 2016. On a seasonally and working day adjusted (swda) basis, production grew by 2% y-o-y in April 2016 compared to a rise of 0.1% y-o-y in March 2016. It grew 1.1% y-o-y on a 3-month moving average (3mma) basis in April 2016 compared to 1.6% y-o-y in March 2016.In terms of industry segments, electricity &amp; utilities increased 1.8% y-o-y in April 2016 after having recorded negative…

Eurozone: Industrial Production Revives Across Most Sectors and Countries in April

Industrial Production growth in the Eurozone came in lower than expected in March 2016. On a  seasonally and working day adjusted basis, production slowed to 0.2% y-o-y in March 2016 compared to a 1.1% y-o-y increase in February 2016. It grew 1.6% y-o-y on a 3-month moving average basis in March compared to 1.7% y-o-y in February.In terms of industry segments, chemicals &amp; basic pharmaceutical production saw a decline of around 5.5% y-o-y in March compared to an increase of 0.4% y-o-y in…

Industrial Production growth in the Eurozone came in lower than expected in March 2016. On a  seasonally and working day adjusted basis, production slowed to 0.2% y-o-y in March 2016 compared to a 1.1% y-o-y increase in February 2016. It grew 1.6% y-o-y on a 3-month moving average basis in March compared to 1.7% y-o-y in February.In terms of industry segments, chemicals &amp; basic pharmaceutical production saw a decline of around 5.5% y-o-y in March compared to an increase of 0.4% y-o-y in…

Eurozone: March Industrial Production Lower than Expected

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>At the first closing date of the <a href="https://www.smartkarma.com/entities/toyota-industries-corp" target="_blank" data-smartkarma-citation="entities:4500:1" rel="noopener">Toyota Industries (6201 JP)</a> offer, Fudosan unsurprisingly extended the close, but surprisingly, voluntarily disclosed the level of acceptances.</li>
<li>At first glance, the disclosure of acceptances was an own goal, as the shares reached new highs, giving Elliott a gift to strengthen its call to reject the offer.</li>
<li>Alternatively, Fudosan’s disclosure could be a shrewd move to signal that its likely endgame (bump marginally above 3Q book value and possibly lower minimum) will succeed.  </li>
</ul>


At the first closing date of the Toyota Industries (6201 JP) offer, Fudosan unsurprisingly extended the close, but surprisingly, voluntarily disclosed the level of acceptances.
At first glance, the disclosure of acceptances was an own goal, as the shares reached new highs, giving Elliott a gift to strengthen its call to reject the offer.
Alternatively, Fudosan’s disclosure could be a shrewd move to signal that its likely endgame (bump marginally above 3Q book value and possibly lower minimum) will succeed.  


Toyota Industries (6201 JP): Disclosure of Acceptances an Own Goal or a Shrewd Move?

Germany

KION Group AG provides material handling solutions. The Company offers forklifts, warehouse equipments, and other industrial trucks.

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KION Group (KGX GR)

EUROZONE: Weak Industrial Production Poses Risk to GDP Growth

Industrial production in Eurozone continues to struggle to gain momentum and came in weaker than expected in June which poses a risk to our GDP...

Rajan Govil

DMER Shorts - Hapag Lloyd Negative Warning Not a Surprise, Stay Sellers of Container Shipping

DMER Shorts - Hapag Lloyd negative warning not a surprise, stay sellers of container shipping Hapag Lloyd negative warning not a surprise This...

Drewry Maritime Financial Research

Eurozone: Industrial Production Revives Across Most Sectors and Countries in April

Industrial Production (IPI) in the Eurozone revived in April 2016 after having recorded negligible growth in March 2016. On a seasonally and...

Rajan Govil

Eurozone: March Industrial Production Lower than Expected

Industrial Production growth in the Eurozone came in lower than expected in March 2016. On a seasonally and working day adjusted basis, production...

Rajan Govil

Toyota Industries (6201 JP): Disclosure of Acceptances an Own Goal or a Shrewd Move?

At first glance, the acceptance disclosure was an own goal. However, it could be a shrewd move to signal that Fudosan's likely endgame (bump...

Arun George

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