In today’s briefing:
- Dow Jones – The Spooky Chart
- WICE: Expect Strong Earnings Growth Momentum to Persist in 2022E
- Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
- Trans Power Marine (TPMA IJ) – Get the ball rolling, preparing for the next big thing
Dow Jones – The Spooky Chart
- This chart draws a fascinating historical comparison between the behaviour of the stock market today with that seen 100 years ago around the time of the Spanish Influenza
- It clearly shows that what we are seeing today has some sort of reflection of the past
- The picture should be taken as a warning sign that the weeks and possibly the months ahead are going to be difficult for the equity market.
WICE: Expect Strong Earnings Growth Momentum to Persist in 2022E
- We maintain WICE with a BUY rating while roll over target price to Bt27.10 (previous TP:16.70) ,derived from 27.4xPE’22E ( +0.5 S.D. five-year average), implies 40% discount to Thai transportation
- We expect strong earnings growth momentum to persist in 2022E supported by; 1.) high sea freight rate anticipated to last until mid 2H22 (sea freight contributes 48% of total revenue
- We expect WICE to report 4Q21 net profit at Bt167m (+182%YoY and +3%QoQ), the highest level since inception
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets ended lower with the S&P and Nasdaq down 1.4% and 2.5% respectively. Most sectors were in the red led by IT and Consumer Discretionary down 2.7% and 2.1%. US 10Y Treasury yields were up 1bp to 1.75%. European markets were mixed with the DAX and FTSE up 0.1% and 0.2% while CAC was down 0.5% respectively. Brazil’s Bovespa was down 0.2%. In the Middle East, UAE’s ADX was up 0.7% and Saudi TASI was up 1%. Asian markets have opened broadly lower following losses on Wall Street – Shanghai, HSI and Nikkei were down 0.7%, 0.9% and 1.9% while STI was up 0.4%. US IG CDS spreads were 1.2bp wider and HY CDS spreads also tightened 1.5bp. EU Main CDS spreads were 0.1bp wider and Crossover CDS spreads were 1.9bp tighter. Asia ex-Japan CDS spreads widened 2.2bp.
Trans Power Marine (TPMA IJ) – Get the ball rolling, preparing for the next big thing
Get the ball rolling, preparing for the next big thing
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.
Before it’s here, it’s on Smartkarma
