External broker reports(aggregated public sources), Nordea

Nordea

External broker reports(aggregated public sources)

Nordea is the bank in the Nordics dedicated to serving corporations and institutional customers. Our offering includes a diverse range of financing, cash management and payment services, investment banking, capital markets products, securities services and more. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Macroeconomics

<ul><li>The Octobermanufacturing PMIrose to 53.1 from 51.6 in September.The report was decent.</li><li>The sub-indices for order intake and productionrose, and the sub-index for employment suggests that the staff situation is stable.</li><li>Delivery times picked up while price pressures remain low.All in all, the uptick in the PMI is surprising giving the weak NIER survey published earlier this week.</li></ul>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.

The Octobermanufacturing PMIrose to 53.1 from 51.6 in September.The report was decent.The sub-indices for order intake and productionrose, and the sub-index for employment suggests that the staff situation is stable.Delivery times picked up while price pressures remain low.All in all, the uptick in the PMI is surprising giving the weak NIER survey published earlier this week.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.

<ul><li>We see CPIF at 1.3% y/y and CPIF ex energy at 1.9% y/y in October.</li><li>No details are published with the flash, but October is normally a quiet month in terms of prices changes, which also is our forecast for October this year.</li><li>One of few major price movements was electricity prices, which rose from the very low levels in previous months.</li></ul>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.

We see CPIF at 1.3% y/y and CPIF ex energy at 1.9% y/y in October.No details are published with the flash, but October is normally a quiet month in terms of prices changes, which also is our forecast for October this year.One of few major price movements was electricity prices, which rose from the very low levels in previous months.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.

Swedish October Inflation Preview: A Quiet Month

<ul><li>Ahead of the Riksbank's announcement on 7 November, the big picture is unambiguous, namely that monetary policy easing is on the way.</li><li>We expect the Riksbank to cut by 50bp to 2.75% and that the Riksbank indicates that the usual cuts of 25 bp are the most likely ahead of the next monetary policy meetings.</li><li>The weak krona means that the Riksbank is unlikely to open the door ajar for a 50bp cut also in December, which otherwise could have been on the agenda. </li></ul>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.

Ahead of the Riksbank's announcement on 7 November, the big picture is unambiguous, namely that monetary policy easing is on the way.We expect the Riksbank to cut by 50bp to 2.75% and that the Riksbank indicates that the usual cuts of 25 bp are the most likely ahead of the next monetary policy meetings.The weak krona means that the Riksbank is unlikely to open the door ajar for a 50bp cut also in December, which otherwise could have been on the agenda. 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.

<ul><li>The headlineESIstood at 93.6 in October, down from 94.6 in September.</li><li>Confidence indicators for the manufacturing industry as well as for the services sector deteriorated.</li><li>The weak global demand is finally hitting Swedish manufacturers.</li></ul>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.

The headlineESIstood at 93.6 in October, down from 94.6 in September.Confidence indicators for the manufacturing industry as well as for the services sector deteriorated.The weak global demand is finally hitting Swedish manufacturers.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.

Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Equity Bottom-Up

Tethys Oil AB explores for and develops oil and natural gas projects.  The Company's primary operations are within the European Union.

<ul>
<li>Large and extensive natural fractures have been encountered over 500 m (gross thickness) in the Birba and Buah formations at the Kunooz-1 well, resulting in very high permeabilities.</li>
<li>The matrix porosity is low. The presence of these large fractures could support significant volumes of fluids or gas in the formation.</li>
<li>Due to the fractures, 80 mbbl of drilling fluids were lost in the formation and no cuttings could be recovered.</li>
</ul>


Large and extensive natural fractures have been encountered over 500 m (gross thickness) in the Birba and Buah formations at the Kunooz-1 well, resulting in very high permeabilities.
The matrix porosity is low. The presence of these large fractures could support significant volumes of fluids or gas in the formation.
Due to the fractures, 80 mbbl of drilling fluids were lost in the formation and no cuttings could be recovered.


Tethys Oil AB (SSE: TETY): Encouraging results at Kunooz-1

Sweden
Insights on Sweden

Swedish October PMI: Uptick

The sub-indices for order intake and productionrose, and the sub-index for employment suggests that the staff situation is stable.

Nordea

Swedish October Inflation Preview: A Quiet Month

No details are published with the flash, but October is normally a quiet month in terms of prices changes, which also is our forecast for October...

Nordea

Riksbank Preview: To the Rescue

Ahead of the Riksbank's announcement on 7 November, the big picture is unambiguous, namely that monetary policy easing is on the way.

Nordea

Swedish Tendency Survey: Weak but Mixed

The headlineESIstood at 93.6 in October, down from 94.6 in September. Confidence indicators for the manufacturing industry as well as for the...

Nordea

Tethys Oil AB (SSE: TETY): Encouraging results at Kunooz-1

Large and extensive natural fractures have been encountered over 500 m (gross thickness) in the Birba and Buah formations at the Kunooz-1 well,...

Auctus Advisors