Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index.  In today’s report we take a bottoms-up view on developed ex-U.S. equities, highlighting stocks that present attractive buy opportunities within the Communications, Health Care, Manufacturing, Materials, Technology, Transportation, and Utilities Sectors

Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index.  In today’s report we take a bottoms-up view on developed ex-U.S. equities, highlighting stocks that present attractive buy opportunities within the Communications, Health Care, Manufacturing, Materials, Technology, Transportation, and Utilities Sectors

Bottoms-Up View on Developed Markets: Actionable Stocks, Part 2

US-EU Index Rebalances / Quantitative Researcher

Dimitris Ioannidis

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/verisure-holding-ab" target="_blank" data-smartkarma-citation="entities:43889:1" rel="noopener">Verisure Holding (VSURE SS)</a> is forecasted to be added at a market cap of ~$19bn following its IPO on 8 October.</li>
<li>
<a href="https://www.smartkarma.com/entities/metlen-energy-metals-plc" target="_blank" data-smartkarma-citation="entities:45704:1" rel="noopener">Metlen Energy &amp; Metals (MTLN LN)</a> is expected to be added at a market cap of ~$6bn due to a change of incorporation and primary listing from Greece to UK.</li>
<li>
<a href="https://www.smartkarma.com/entities/schibsted-asa" target="_blank" data-smartkarma-citation="entities:22250:1" rel="noopener">Vend Marketplaces ASA (VEND NO)</a> is projected to be added at a market cap of ~$6bn because of the unification of its share class structure.</li>
</ul>



Verisure Holding (VSURE SS) is forecasted to be added at a market cap of ~$19bn following its IPO on 8 October.

Metlen Energy &amp; Metals (MTLN LN) is expected to be added at a market cap of ~$6bn due to a change of incorporation and primary listing from Greece to UK.

Vend Marketplaces ASA (VEND NO) is projected to be added at a market cap of ~$6bn because of the unification of its share class structure.


STOXX Europe600 Dec25 Forecast: VSURE, VEND & MTLN Leading Top Additions

<ul>
<li>
<a href="https://www.smartkarma.com/entities/schibsted-asa" target="_blank" data-smartkarma-citation="entities:22250:1" rel="noopener">Schibsted/Vend Marketplaces (VENDB NO)</a> is the highest ranked non-constituent. However, its addition is uncertain due to share class liquidity.</li>
<li>The main forecasted additions are <a href="https://www.smartkarma.com/entities/zegona-communications-plc" target="_blank" data-smartkarma-citation="entities:25686:1" rel="noopener">Zegona Communications (ZEG LN)</a> and <a href="https://www.smartkarma.com/entities/nordex-se" target="_blank" data-smartkarma-citation="entities:21682:1" rel="noopener">Nordex SE (NDX1 GR)</a> following price rallies.</li>
<li>The main forecasted deletions are <a href="https://www.smartkarma.com/entities/verallia" target="_blank" data-smartkarma-citation="entities:36586:1" rel="noopener">Verallia (VRLA FP)</a> and <a href="https://www.smartkarma.com/entities/banca-popolare-di-sondrio-scar" target="_blank" data-smartkarma-citation="entities:21166:1" rel="noopener">Banca Popolare Di Sondrio Scar (BPSO IM)</a> following tender offers that significantly reduced their free float.</li>
</ul>



Schibsted/Vend Marketplaces (VENDB NO) is the highest ranked non-constituent. However, its addition is uncertain due to share class liquidity.
The main forecasted additions are Zegona Communications (ZEG LN) and Nordex SE (NDX1 GR) following price rallies.
The main forecasted deletions are Verallia (VRLA FP) and Banca Popolare Di Sondrio Scar (BPSO IM) following tender offers that significantly reduced their free float.


STOXX Europe600 Sep25 Forecast: ZEG, NDX1, FRA to Enter; VRLA, BPSO, EMBRACB to Exit

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sparebank-1-sr-bank-asa" target="_blank" data-smartkarma-citation="entities:22255:1" rel="noopener">SpareBank 1 Sr-Bank (SRBANK NO)</a> is the number one addition candidate following the merger with SpareBank 1 Sørøst-Norge which increased the security's float shares.</li>
<li>
<a href="https://www.smartkarma.com/entities/schibsted-asa" target="_blank" data-smartkarma-citation="entities:22250:1" rel="noopener">Schibsted ASA (SCHB NO)</a> - Class B - is estimated to have surpassed Class A in liquidity which deems it eligible for selection with a high conviction.  </li>
<li>
<a href="https://www.smartkarma.com/entities/carnival-plc" target="_blank" data-smartkarma-citation="entities:21869:1" rel="noopener">Carnival PLC (CCL LN)</a> is one of the top three addition candidates after experiencing a ~50% price rally over the last three months. </li>
</ul>



SpareBank 1 Sr-Bank (SRBANK NO) is the number one addition candidate following the merger with SpareBank 1 Sørøst-Norge which increased the security's float shares.

Schibsted ASA (SCHB NO) - Class B - is estimated to have surpassed Class A in liquidity which deems it eligible for selection with a high conviction.  

Carnival PLC (CCL LN) is one of the top three addition candidates after experiencing a ~50% price rally over the last three months. 


STOXX 600 EU December 2024 Forecast: A Schibsted Gamble, a SpareBank Surge, and a Carnival Party

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

<ul><li>Schibsted is simplifying its business to become a pure-play online classifieds company</li><li>The company's biggest driver is Norway, operating across four verticals and four geographies</li><li>Recent initiatives including asset sales and cost reduction plans have positioned Schibsted for improved operating performance and growth potential</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Schibsted is simplifying its business to become a pure-play online classifieds companyThe company's biggest driver is Norway, operating across four verticals and four geographiesRecent initiatives including asset sales and cost reduction plans have positioned Schibsted for improved operating performance and growth potentialThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Schibsted (SCHB NO) - Friday, Aug 2, 2024

Norway

Schibsted ASA, through its subsidiaries, owns and operates online classifieds services. The Company also owns and operates media houses with print and online positions. Schibsted operates in parts Europe and other international markets.

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Schibsted ASA (SCHA NO)

Bottoms-Up View on Developed Markets: Actionable Stocks, Part 2

Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index. In today’s report...

Vermilion Research

STOXX Europe600 Dec25 Forecast: VSURE, VEND & MTLN Leading Top Additions

VSURE or MTLN may be added ahead of the review as a replacement following KKR’s cash acquisition of Spectris (SXS), which is expected to close on 3...

Dimitris Ioannidis

STOXX Europe600 Sep25 Forecast: ZEG, NDX1, FRA to Enter; VRLA, BPSO, EMBRACB to Exit

Uncertain inclusion: VENDB due to share class liquidity. High probability inclusions: ZEG and NDX1 following price rallies. High probability...

Dimitris Ioannidis

STOXX 600 EU December 2024 Forecast: A Schibsted Gamble, a SpareBank Surge, and a Carnival Party

The top addition candidates are SpareBank 1 Sr-Bank post-merger, Schibsted ASA Class B after surpassing Class A in liquidity, and Carnival PLC...

Dimitris Ioannidis

Schibsted (SCHB NO) - Friday, Aug 2, 2024

Schibsted is simplifying its business to become a pure-play online classifieds company. The company's biggest driver is Norway, operating across...

Value Investors Club (VIC)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Bottoms-Up View on Developed Markets: Actionable Stocks, Part 2

Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index. In today’s report...

Vermilion Research

STOXX Europe600 Dec25 Forecast: VSURE, VEND & MTLN Leading Top Additions

VSURE or MTLN may be added ahead of the review as a replacement following KKR’s cash acquisition of Spectris (SXS), which is expected to close on 3...

Dimitris Ioannidis

STOXX Europe600 Sep25 Forecast: ZEG, NDX1, FRA to Enter; VRLA, BPSO, EMBRACB to Exit

Uncertain inclusion: VENDB due to share class liquidity. High probability inclusions: ZEG and NDX1 following price rallies. High probability...

Dimitris Ioannidis

STOXX 600 EU December 2024 Forecast: A Schibsted Gamble, a SpareBank Surge, and a Carnival Party

​The top addition candidates are SpareBank 1 Sr-Bank post-merger, Schibsted ASA Class B after surpassing Class A in liquidity, and Carnival PLC...

Dimitris Ioannidis

Schibsted (SCHB NO) - Friday, Aug 2, 2024

Schibsted is simplifying its business to become a pure-play online classifieds company. The company's biggest driver is Norway, operating across...

Value Investors Club (VIC)

The top addition candidates are SpareBank 1 Sr-Bank post-merger, Schibsted ASA Class B after surpassing Class A in liquidity, and Carnival PLC...