OMV Petrom is blocking Fondul uptick

OMV Petrom is the largest stock in Fondul portfolio. Its underperformance is limiting Fondul Proprietatea growth. Interestingly, OMV Petrom is significantly underperforming its parent OMV AG.

Oil: Doha or no-Doha

IEA Sees Oil Oversupply Almost Gone in Second Half on Shale Drop By Grant Smith, Bloomberg Surplus to dwindle to 200,000 barrels a day from 1.5 million Iran’s return to global market impeded by financial obstacles (Bloomberg) — Global oil markets will “move close to balance” in the second half of the year as lowerContinue reading “Oil: Doha or no-Doha”

Paul Singer´s Fondul Proprietatea will benefit from Hidroelectrica´s flotation

Hidroelectrica: record profit last year, floatation in 2016 Hidroelectrica is the most profitable company in Romania The company plans flotation for second half of 2016 The Hidroelectrica energy company, has awarded the Deloitte consultancy company a EUR 382,000 contract for financial audit services spanning the 31 December 2015 – 31 December 2017 period, including services relatedContinue reading “Paul Singer´s Fondul Proprietatea will benefit from Hidroelectrica´s flotation”

Wood and Co update on Fondul

Exerpt from Wood and Co research on Romania published 28/1/2016 We believe that the Fund should remain an attractive investment: Fondul Propreitatea trades at 36% discount to NAV, with the stock price having fallen over 13% in the past six months, due mostly to the prices of Petrom and Romgaz (together accounting for 38% ofContinue reading “Wood and Co update on Fondul”

Morgan Stanley on Alrosa

ALROSA 1st Take: 4Q15 operational results show a higher rough diamond demand than expected January 28, 2016 PDF Print Share Industry View Stock Rating Price Target ALROSA remains our favored exposure in the Russia M&M space, but the diamond market is not out of the woods just yet. A combination of decent US holiday sales,Continue reading “Morgan Stanley on Alrosa”