Market Maintains Risky Bet on China's Continued Fiscal Support, and Rio Tinto Exposed Via Iron Ore
We maintain our AUD 42 per share fair value estimate for no-moat-rated Rio Tinto. Second-quarter 2017 was slightly weaker than expected. We lower...
128 Views
Commodity Watch - Financialisation Has Not Driven Commodity Futures, but Net Hedging Pressure Has
Evidente is launching a new product - Commodity Watch - which is designed to monitor developments in global commodity markets, with a focus on...
190 Views
Solid Second Quarter for Fortescue; AUD 2.80 Fair Value Maintained
Fortescue’s fiscal 2017 second-quarter iron ore shipments of 42.2 million tonnes were broadly in line with recent periods and our expectation. We...
144 Views
Our Rio Tinto Fair Value Estimate Lifts Marginally to AUD39 Per Share With Solid Finish to 2016
We raise our fair value estimate marginally to AUD 39 per share with Rio Tinto’s solid finish to the year. Fourth-quarter iron ore volumes beat our...
162 Views
2017 Asset Allocation Outlook – Part 2: Trump Reflation Euphoria to Fade?
The overwhelming investor consensus a year ago was for further EM/commodity downside amid deflation fears - this year it is a USD secular bull and...
310 Views