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Need the FTSE to behave but I’m also encouraged by the huge support for Cineworld shown by customers on Twitter. When they reopen customers will come flooding back.
So the short squeeze of a lifetime is happening tomorrow then....?
UK Chancellor announces ?300bn funding to support the economy at first stage..!! 15% of entire GDP...!!
"Government will do whatever it takes"
Oooffff.... talk about balls deep! #ftse #aim #lse #COVID19
Good buy in price deep OPEC cuts, Libya still offline, and China coming back to life. Virus fatigue people will become accustomed to it and life moves on.
Libya's NOC Says Oil Production Sank by Over 5 Times Since 18 January Over Ports Blockade: MOSCOW (Sputnik) – Oil production in Libya had fallen from 1.04 million barrels per day on 18 January to 181,576 barrels per day on 5 February… dlvr.it/RPcQT7
$800M - $900M versus peers with higher debt ratios? Production, reserves, debt all stack up!?
Makes you think where the SP would be if oil was over $65...
Shows how undervalued ENQ is even with POO at this level.
Moody’s yesterday updated EnQuests ‘Credit Opinion’ and LGD Assessment. Info is locked to subscribers. I can only imagine it is positive!
Better than expected:
Net debt reduced by c.$361 million to $1,413 million
At 31 December 2019, net debt including PIK was $1,413 million, with cash and available facilities of $289 million
The Group has now repaid the entire senior credit facility amortisation due in 2020 following voluntary early payments of $75 million in December 2019 and $35 million in January 2020
Therapist oil market reacting well to WHO and Amazon just posted better than expected results so Wall St going ga ga.
That the ADVFN filter apparently ;)
WHO CHIEF TEDROS SAYS "WHO OPPOSES ANY MEASURES OR RESTRICTIONS ON TRAVEL OR TRADE TO CHINA"
WHO SAYS IT HAS CONFIDENCE IN CHINA'S ABILITY TO CONTROL CORONAVIRUS OUTBREAK
Oil shorts are ****ed
?Interview with British Guy in Wuhan that caught the Coronavirus on the 5th of December (one of the first). Says for most people it is very much like having the flu. Fully recovered. he was hit a bit harder as he had pre-existing cough. https://www.lbc.co.uk/radio/presenters/nick-ferrari/whats-it-like-to-have-coronavirus-victim/?
Retail bonds practically unchanged at 92.9p down 1.6%...
Previous outbreaks rebounded after initial market hit, JPMorgan says
Many investors are casting their eyes back to previous outbreaks in search of patterns and trends that might inform their investment decisions, even as many questions remain about the coronavirus outbreak, reports Anna Gross in London.
“It’s important that we don’t panic but really look to history as a guide,” said Kristina Hooper, chief global markets strategist at Invesco. “At the moment, so little is known that it’s difficult to even pull in experts.”
JP Morgan has assessed the market impacts of previous outbreaks, such as Sars in 2003, swine flu in 2009, Ebola in 2013 and Zika virus in 2015.
The Sars outbreak sparked an 8.6 per cent drop in the MSCI China index between March and April 2003. The index rebounded 31 per cent over the following three months. Similarly, swine flu triggered a 4 per cent decline in the MSCI Mexico, rebounding 25.7 per cent over the three-month period that ensued.
Sars is widely considered to be the most comparable historic viral outbreak. Hong Kong equities shed almost a fifth of their market capitalisation over the course of a few months during the epidemic and Chinese markets were down 15 per cent, according to analysis by JPMorgan. However the analysts note that, as uncertainty eased in late April, MSCI China and Hong Kong reversed all of their losses and went on to make significant gains.
In a sense, the more equities fell initially, the more they subsequently rebounded. These episodes did not lead to a prolonged period of selling, and were a buying opportunity within weeks.
Luxury, hotels, restaurants, leisure and airlines were the sectors that were hit the most, outperforming the market when it rebounded.
"Investors with a short-time horizon should expect that if they don’t move to safe haven asset classes they will be negatively impacted,” said Ms Hooper.
I mentioned at the weekend EnQuest sp was overstretched technically: it needs to consolidate. Find support for the next leg up. This happens in every share and EnQuest is no different. The consolidation will build a base to support further rises in the future.
EnQuest continues to be undervalued versus peers and based on its PE ratio.
Overall solid performance on Kraken and selling at a premium to Brent. I expect reserves to be written back in the full year results (it’s when they were taken off last year).
There is a gap close at 23.36p from the 9th Jan. It gapped up on open on the 10th Jan with a low of 24p. Gaps do not always get filled and this gapped up with huge volume on that day.
Likewise there are gaps all the way up... however it will retrace at some point which is healthy for the next move up.
60p not In a straight line I hasten to add.
This could gap fill 23/24p likewise it could gap fill 40/42p or hit 36/37p and come back.
Regardless it is overheated on all technicals and needs some consolidation. However it is also tremendously undervalued.
Trade buy sell I’m holding and increasing positions in any pull back.
GLA
I think 40p is too low I expect 60p this year.
The PE ratio is still significantly undervalued.
Beerbull is being ‘ironic’ geddit