Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
General trader sentiment: Recent lows will be tested again if the Fed fails to communicate a clear message to the market at it's next FOMC. Once the Fed hikes it's a very strong positive signal to Market that economy is fine and it's all up and away again.
Veteran investor comment: ''Find bargains at discount prices and forget about building up cash'' ''S&P 500 to rise about 11% over the coming months'' General sentiment is that volatility will persist until a clearer picture on how Fed hike! and emerging markets affect earnings. Companies with continued decent earnings will be brought up by the market. First correction in 1000 days for a overvalued US market. USA data: initial jobless claims wholesale inventories import/export price indices UK data: rics housing survey boe speak US imports more than four times what it exports (9%)to China and the recent devaluation of Yuan can only be a plus Good day investing to all
Editorial comment: ''Capital flight is China's new confidence problem and investors are not that impressed with China's G20 reassurances and are voting with their feet'' China's export figures for August released today and markets could react negatively
Analyst comment: ''China has a debt overhang across the board which is rising exponentially and needs addressing/or could lead to credit crunch or systemic failure in 2016'' ''Chinese stock market still too highly valued and could fall to about 2000'' G20 sentiment is that China has to come clean as to the true state of their economy. Portfolio manager comment: ''We advise our wealthy clients who want to preserve and increase their wealth to invest on the long view and in a Bear market'' US data: consumer credit Germany data: balance of trade current account retail price index EU data: gdp UK data: brc sales monitor Good day investing to all
Hi Slipperyslope, Great move today. Maybe somebody told Market that the company name is not United Rentals The Beige Book when it began in 1970 was red and its first release to the public in 1985 the cover was beige and since it's been called the Beige Book Beige Book is published 8 times a year and is a regional economic survey including bank data etc etc and interviews with key people and is valuable for Fed decision making.Todays Beige Book reflects a more optimistic economic outlook. USA data Thursday: initial claims trade defecit ism non manufacturing EU data: pmi ECB interest rate retail sales UK data: pmi composite pmi services Ashtead hopefully will find a ta$ty bolt-on in the 2Q Good day investing to all
1000p even!
Did 980p just now!
Ashtead Group (AHT) led blue chips up with a 4.91% gain to 962p on a strong Q1 with underlying pretax profits of £161m, up 23% at constant exchange rates on the prior year. Underlying EBITDA rose by 25% to £282.7m and underlying operating profits were also up 25% at £180.2m
Decent set of results CEO Drabble comment:( part of....) ......''23% rental revenue growth clearly demonstrates the overall health of our broader markets and the benefits of our more transactional business model''....... debt to EBITDA leverage 1.8 times eps 20.3 p CEO goes on to say that AHT expectations are in line for full year and AHT continue to look at medium term with confidence Expect to open additional 50 new greenfield locations in 2015 £349 million invested in Quarter -------------------------------- Shanghai down - 1% DOW/S&P 500 futures healthy this am crude futures down -3%+ AHT once again demostrate their competent and resilient ability to grow a large company in a very competitive sector and also a good metric on the demand of the US rental and construction sector. A healthy surprise would be for a gridlocked Congress to come up with some healthy funding for the US infrastructure. AHT have demonstrated their flexibility in dealing with a hefty reduction in energy capex and when OPEC blink/or oil price eventually stabilises and crude prices rise again towards end of 2016! this will further enhance their profita bility. As one analyst commented we are in transitory phase where global markets adjust to low commodity prices. Chinese PRC have banned short selling,but not transparent enough on the actual health of Chinese economy and maybe they are not too sure themselves. They do not convince the markets,but going into 2016 hopefully we will have a clearer picture/optimism AHT once again deliver and A-Plant growing nicely Good day investing to all
Market comment: ''Death Cross chart patterns spreads to all corners of market'' Death Cross when 50 day MA moves below 200 day MA and is a short term turning into a longer trend market downturn Never a dull moment
Editorial comment: ''American contractors urge Congress to take up the federal surface transportation bill and set funding levels for many other federal construction programs as soon as possible once members return to Washington after Labour Day'' ''Construction spending and employment are still expanding well overall,however uncertainty over funding for transportation infrastructure,a contraction in oil and gas drilling and turmoil in international markets have left many local construction markets behind while others grow strongly'' ''Around half of US metro areas have seen a decline in construction jobs amidst tight government budgets and Congress remains somewhat paralysed and inept'' '' Construction jobs are up in 37 states and a total of 231000 construction jobs have been created since July 2014'' Market comment: ''OPEC have not succeeded in stopping the frackers and will have to blink as they are not the force they used to be in global oil markets'' AHT quarterly data released later this morning will be good,but market generally is too volatile to see a rise in share price at a sustained level and probably will decline further. Some analysts say market will be volatile for months to come as China continues to unravel and uncertainty over rate hike. China's service sector supposed to be a bright spot has begun to look suspect on recent data release . Another ugly day for markets(1st) and not the best atmosphere for todays AHT earnings data. USA data: crude inventories factory orders fed beige book unit labour costs Q2 total vehicle sales EU data: ppi UK data: construction pmi good day investing to all
Results out tomorrow so with those large buys gone through I would expect them to be good with a short term rise here then AHT to follow the rest of the US markets. All looks like it will be a very volatile period to come. How say you V100?
USA data OK but inflation declining,Fed hike may now be December. Data Tuesday: ism manufacturing domestic vehicle sales construction spending UK data: consumer credit mortgage approvals money supply
A-Plant has ordered a variety of 320 diesel generators that are EU/DEFRA Tier 3 emission/oil pollution compliant and operate with an ultra low noise facility. A-Plant says it continues with its innovation and fleet enhancement growth model to offer customers the very best.
Market comment: ''Market to fall further as their is no catalyst to take them higher,historically it would be the Fed easing,but the Fed is out of bullets and has no additional liquidity'' ''Market still 1.4 trillion$ in red after rally'' ''China has a highly leveraged construction sector and unsustainable debt levels after 7 years of borrowing and is the real reason for market crash'' ''Chinese stock market operates like a casino'' ''One risk the Fed is only too aware of is that they run the risk of destabilising the global financial system if they hike in September'' ''The recent rout is not because of the US/EU economies,the cause are the emerging economies and the absence of a credible and stabilising 'circuit-breaker' ie,a Central Bank like Fed and ECB and BOE'' Oil comment: Oil moving again will be a welcome catalyst as one commentator put it,BUT that is not expected till the back end of 2016/or early 2017! What did Draghi/ECB say some months ago: ''Volatility is here to stay and get used to it'' Jackson Hole get together starts today and will give Markets a better idea on what lays ahead! But all will change and blue skies for all when Donald Trump takes over ''viva el presidente'' USA data: pending home sales initial jobless claims gdp EU data: m3 money supply Market comment: ''A lot of new money is fence sitting and those invested are pruning and lightening up'' Good day investing to all
Market comment: ''It will take some time for confidence in market to re-build'' US consumer confidence data came in surprisingly well. US Housing data came in well. German IFO data came in well USA data: crude inventories durable orders
Market comment: ''Big drop in early trading was intensified by cash strapped Mutual funds selling stocks to pay redemtions'' ''Chinese have botched their handling of Market so far and have not the ability to do so'' ''If US economy/recovery is in danger/destabilised then it's QE 4 and it's the only tool the Fed has got'' ''A lot of happy portfolio managers scooping up good companies'' ''When energy falls/oil the market follows'' ''Global deflation is making global corporations very cautious'' ''If the Chinese have made mistakes running their economy how can they be expected to sort markets'' ''The IMF warned about devaluation/currency wars and they go ahead and do it anyway'' ''Warren Buffet isn't selling he is BUYING'' Sentiment from some is that selling could go on for weeks. Shanghai presently down 4% A very tasty rebound could be on the way. Stocks were going nowhere for months and now the opportunites are materialising again. Good day investing to all.
Market comment: ''Investors will be watching! how the Shanghai index performs on Sunday night/Monday morning and if it doesn't look good then Monday the sell off intensifies'' ''Correction or bear market or global recession on the way and Vix jumps 40%+ on Friday'' Can one really trust a communist state to give truthful market data,but one thing for sure is that investors fear that the China economy could be in more trouble than their prepared to admit. USA data: treasuries various UK/EU data: nil Fed member Dennis Lockhart speaks on Monday in Berkley By the end of the coming week we most certainly will have a CLEARER horizon on how the Market digests all of this. It could be corrected and cooler Markets and buying opportunites that investors have been waiting for or it it could be very noisy and ugly. Have a safe investing! week
US labour data suggests labour market on mend Philly Fed index came in well for manufacturing Existing home sales good Moderate economic growth for remainder of 2015 for US Wall St nervous! 1.commodities 2.currencies emerging markets 3. oil 4.china Fed hike not coming due to Fed fears of global deflationary pressures,maybe December Another red day is on Futures Good day investing to all
Editorial comment: ''For all the talk of consumer sentiment,retail sales and other measures of consumption,it is income and employment that drive economic growth.Personal consumption is simply the final transaction in the economic value chain,it is an effect of economic growth not the cause. In the absence of new jobs or higher real incomes,consumers cannot increase spending without drawing on savings or borrowing,both unsustainable sources of growth. The real driver of growth in jobs and wages is private- sector capital spending,also known as capex.Growth in capex appears robust-up 9% per year- if you look at it since the bottom of the financial crisis. But this masks the reality that compounded growth has been slightly more than 2% since the pre crisis peak.That's anemic by long term historical standards. The hoarding of cash by corporations continues apace with a new record set for balance sheet cash in 2014.While dividends and share repurchases are expected to deliver more than 1 trillion $ to investors in 2015.This is cash that is not being invested into growing businesses. Employment has recovered to slightly more than its pre crisis peak,roughly in line with capex.But when one looks at job participation in the US labour force it highlights a significant amount of slack remaining. Private sector capital allocators have been demonstrating their sceptical outlook since 2000.From 1994 to 2000 capex grew 13% per year,but since then it has grown only 5% per year. Until companies begin to view investment in their own businesses as more attractive than engaging in mergers and acquisitions or returning cash to shareholders,jobs and real growth will remain sluggish. There is little hope for US GDP expansion above 2%+ in this present scenario and global headwinds will only excaberate the growth challenge'' USA data: cpi core cpi crude inventories fomc minutes EU data: balance of payments Good day investing to all
Having just spoken with AHT, I can confirm that the results are Wednesday 2 Sept and not Tuesday as indicated in the RNS.
ASHTEAD GROUP PLC - 1st Quarter Results PR Newswire London, August 18 Ashtead Group PLC 18 August 2015 ASHTEAD GROUP PLC Announcement of Q1 Results Ashtead Group plc announces that its first quarter results for the period ended 31 July 2015 will be announced on Tuesday, 2 September 2015.
Thanks V100 for your continued reports which are very interesting. Will also be interested to see how 1st Qtr results for AHT look which should be out at beginning of September.
Editorial comment/credit traders alarm bells: ''Bond buyers are less interested in piling into notes that yield a historically low %3.4 at a time when companies are increasingly using the proceeds for acquisitions,share buybacks and dividend payments.The Fed is likely to raise rates soon,ending an era of unprecedented easy-money policies that have suppressed borrowing costs. All of this has corporate-bond investors concerned enough that they're demanding 1.64 percentage points above benchmark government rates to own investment-grade notes. Credit traders have an uncanny knack for sounding alarms well before stocks realize there's a problem -2008-this time may be no different.Investors have yanked 1.1 billion $ from US investment grade bond funds last week,the biggest withdrawl since 2013 according to data recently compiled.Dollar denominated corporate bonds of all ratings have lost 2.3% since the end of January,whilst the S&P 500 index has gained 5.7%. Unlike the credit market,the eqiuity market well into 2008 was very complacent about the subprime crisis that led to a full blown financial crisis.While we are not predicting another financial crisis,it is important to keep highlighting to investors across asset classes that conditions in the high grade credit market are currently very unusual'' USA data: NY empire state mnfg index net foreign purchases EU data: balance of trade Market comment: ''HSBC predicts a year end recovery'' ''Todays Japanese GDP figure may further unease markets on global economic recovery'' ''France Q2 GDP came in stagnant'' Good day investing to all
US construction employment at highest level since 2009 and construction unemployment at a 14 year low However skilled and suitable labour is becoming a significant problem Labour shortages could impede projects going ahead and affect investment